Is Venezuela Stabilizing?
Is Venezuela Stabilizing?
It looks the inflation rate in Venezuela maxed out in January at an annuualized rate of 192,000 % , whiich fell by September to 4,600% rate, still in hyperinflationary teritoryy, but clearly coming down substantially. I am not a fan of this regime and never was, unlike some prominent economists saying nice t8ings about their economic performance, especially back in 2007, just before the world crash, when indeed their numbers looked prtty good. But, not more recently unfortunately. But maybe they are slowly returning to a more functional economy now, with still a long way to go.
There are also reports that oil production in Venezuela has recently risen. Reportedly some of the recent possible stabilization in Venezuela may reflect influence of Russian advisers.
Barkley Rosser
Venezuela is a mess and the Russians being there will be a long term problem for the US.
But the United States now has a failed state on its southern border. And no US politician can claim innocence in rendering the Mexican government subordinate to the drug cartels.
The US government should have shut down the movement of illicit drugs and the profits across our southern border by any means necessary. If that takes shutting down our southern border then so be it. Half measures have all failed as the power of the drug cartels grew.
Here is a summary of one drug cartel’s victories.
From: https://en.m.wikipedia.org/wiki/Joaqu%C3%ADn_%22El_Chapo%22_Guzmán
In 1993 El Chapo was arrested and sentenced to 20 years in a Mexican prison. But after bribing his guards he escaped in January 2001. He was not recaptured until 2014. He escaped again in July 2015 but this time he escaped through an elaborate tunnel. He was recaptured again in January 2016. In January 2017 El Chapo was extradicted to the United States.
A Mexican federal judge who was involved with the extradition was assassinated while jogging near Mexico City in October 2016.
The latest dramatic evidence of the Mexican government’s fear of the cartels was the capture and release of El Chapo’s son Ovidio Guzman on 19 October 2019. About thirty six men had gone to Ovidio Guzman’s home and captured him. A large gun battle then ensued and the Mexican government decided to release El Chapo’s son.
The President of Mexico defended the release of Ovidio. Stating “This decision was made to protect citizens,” he said. “You cannot fight fire with fire,” he added. “We do not want deaths. We do not want war.”
From : https://www.foxnews.com/world/el-chapo-son-us-arrest-warrant-compensation
And: https://www.nytimes.com/2019/10/23/opinion/el-chapo-son-mexico.html
Mexico is already in a war and President Obrador is in the process of accepting the Mexican government’s subordinance to the cartels. The Mexican government is now admitting that it can not control its organized criminals. Mexico’s law enforcement officers will not continue to risk their lives if the national government will not back them up with what ever force is necessary! Innocent Mexicans are being killed when caught between warring drug cartels. Are some deaths more acceptable than others?
Colombia fought the FARC, a communist movement and later a drug cartel, for over 50 years. But the FARC never controlled large urban areas.
This situation in Mexico is dramatically worse. And it will not be reversed until the US government stops the flow of drugs and money across our southern border.
So much for political correctness!