Obama's lead policy adviser, Chavez, will test the next Lib Economic plan before America does.The socialist Chavez believes the state should have a weighty role in managing the economy. During his 11 years in office he has nationalized most heavy industry, and business and finance are tightly regulated.
The devaluation is politically risky but means every dollar of oil revenue puts more bolivars in government coffers. That allows Chavez to lavish cash on social projects and fund salary increases ahead of parliamentary elections in September.
It's almost certain now that Socialist Obama will follow this leader.
Just like he followed Chavez in his position on Honduras.
God help us.
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