Time to Invest In Venezuelan Cert of Deposit??

aztec says on May 7, 2007, 05:41:

miamimike, that might be the most... ...unwise advice given here. Have a friend who invested millions in the Argentina bonds during their crisis. He was convinced their problem was temporary and he would make a killing. He is is still attempting to recover a small pittance on the dollar.

0 funny, 0 helpful.

slguy says on May 7, 2007, 05:55:

I gotta say - anyone who invests anything in a country run by a megalomaniacal marxist populist gets what's coming to them. And it ain't gonna be profits, is my best guess.
Several years ago, a small company I had did LOTS of business in Venezuela. With PDVSA and the Polar beer folks. I adore Ven. - but the moment they elected that clown, we left.
I guess there could be some interesting financial plays there today- but you best view it like Vegas- don't take any more with you than you can afford to lose...
slguy


Now I don't have to tell you good folks what's been happening in our beloved little town. Sheriff murdered, crops burned, stores looted, people stampeded, and cattle raped. The time has come to act, and act fast. I'm leaving.

Before you throw me out, make sure I pay my bar tab

0 funny, 0 helpful.

miamimike says on May 7, 2007, 06:32:

I'll bet George Soros and Warren Buffet are headed in,,, are they financial fools on currency and Investing???,,,LOL Who cares about the Politics of the country you are investing in after all you aren't going for Patriotism LOL Other wise we would not be investing in Communist China or Communist Vietnam,,,BTW, plenty of right wing Cubans(although they profess to hate Chavez are doing a booming export busness with him(chavez) from the shores of Miami. Trade(with Venezuela) already is at a record high and by people you would least expect,,,BTW, USA Farm state Republicans are chafing at the bit to start expanded Trade with Communist Cuba as well as many US based Oil Companies wanting to get in the ground floor of the action,,,


Aztec-you forgot to mention Venezuela has something that Argentina never had and never will have,,,Huge amounts of Badly needed Oil,,,Changes the Scenario 100% ,,,

Aztec--if you Carefully re-read my OP I did NOT advise, I presented the post as a Question,,,

SLGuy-Not all Venezuela's Problems started with Chavez; past politicans have been robbing this country blind for the last 40 years,,,with all the money Venezuela has reaped from its natural resources,Venezuela should have been the Athens of South America. Where did all this money go from past Venezuelan Administrations prior to Chavez???

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

bhill says on May 7, 2007, 06:36:

Go to the casino Just as safe an "investment" and probably more fun.

0 funny, 0 helpful.

aztec says on May 7, 2007, 06:39:

Sorry... ...didn't pay enough attention. Getting lazy. Same problem when I was in college. Starting answering the question before I finished reading the question!

0 funny, 0 helpful.

miamimike says on May 7, 2007, 07:21:

Tinto, the Miami Investors have been investing in Venezuela for the past several years and so far, no reports of any big money loss(if in fact any),,,Some here in Miami(right wing Cuban Looney Tooners) may complain about Chavez out one side of their face but are laughing all the way to the bank out the other side of their of their face due to all the $$$ they have made on record trade with with Venezuela since Chavez came into office. Doubt my word, who is buying those record exports of Caterpillars, Computers, Luxury vehicles, Medical Equipment ect from the port of Miami to Venezuela., ???

BTW, these same so caalled anti communist Cubans are the first ones who will hop on the bandwagon to trade with Fidel/Raul when its legal(many already are through 3rd country dummy corporations)

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

miamimike says on May 7, 2007, 07:54:

Yes but you forgot one Major thing in Today's Market None of these Countries had the Massive Reserve of much Needed Oil and Refining Capcity that Venezuela offers only a short distance off the US Southern Coast. That changes the investment scenario 180% due to the Insatiable apetite US Consumers have for Gasoline and their SUVs. And not to mention Chavez's Citgo Owns like 6(more orless)US Gulf Coast Refineries. He is in the Driver seat for the near future,,,If US Consumers could curb their Energy apetite we could show Tin Horns like Him the door but sadly we cannot,,,No more then the Arab Oil Despots who financed 9/11,,, This lack of refining capacity is what is driving this latest spike in record high US Gas Prices at the Pump,,,No shortage of Crude, lack of refining capacity!

BTW, you forgot to mention many of these Nationalized industries you mentioned were in fact bought out by Chavez at Current Market Prices and it has been said any future Nationalizations would be carried out in the same manner so its not a Grab like Cuba pulled way back when. Then, those industries recieved nothing but a Boot in the Ass. Not the case so far with Venezuela,,,

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

miamimike says on May 7, 2007, 09:03:

Tinto, A Buyout is not a complete takeover of an Industry and that is how I read you post, "If the talk about nationalizing steel companies and the banks turns out to be more than saber rattling, you will hear plenty of stories about losing money"---a lot of US industries may complain also with buyouts do to sagging sales, legacy cost ect. Who determines the fair price? Is a Lowball price fair in the USA but unfair when it happens in another country?? Plenty of US workers and some shareholders here in the US then have plenty of similiar complaints when the doors to their US based factories were shuttered and moved offshore to China ect. When I read takeover, I think of what happened to US industries in Cuba when in the early 60s US companies got the Boot or what is happening today in China where the Currency is frozen against other floating currencies. Now thats iron fisted control! You know I will tell you something about those who claim Mexico's sagging production ect. Coming from the Oilfields of North Central pennsylvania I saw many Producers cry wolf repeatedly about how bad their Oil Leases were producing and usually that is when the prices were tanking so then they shutdown the wells for years. As soon as the prices shot back up, miracle of miracles, the Oil wells were uncapped, 5 ported with Chemicals to up production and they were off and running with no complaints. Crying all the way to the bank! Its happening today in this Area of Pa this very moment so I take with a grain of salt some of these Mexico complaints. Some Indy Producers I know would not be happy if Oil spiked to $100/Barrel and thats the truth,,,

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

Wastelandlive says on May 7, 2007, 09:07:

Mike... are you actually smoking weed while posting?

Wasteland

0 funny, 0 helpful.

miamimike says on May 7, 2007, 09:15:

Wasteland why do you ask if I am smoking weed? If you care to make a comment related to the OP, make it please and forego the insults. To date, I believe I have respected your posts and never made an off the wall comment as you made to me. Keep to the post and forget the Insults! Do we have a deal????

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

podborski says on May 7, 2007, 09:21:

I think it would be a very good idea for mike to put his money where his mouth is and invest in venezuela.

The suggestion that warren buffet must be investing there is a joke, at best.

Go ahead Mike, show us how to make some money. I'm investing in argentina and still feel like a complete idiot at times.

0 funny, 0 helpful.

miamimike says on May 7, 2007, 09:49:

Podborski If I invested in Colombia, Venezuela, USA wherever this PBH Public Forum would be the last place I would my discuss private investments,,,LOL How about you?

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

Wastelandlive says on May 7, 2007, 10:05:

OK. You have a deal. I just honestly couldn't tell if you were goofing off or arguing.

Start with this:

MM: "BTW, you forgot to mention many of these Nationalized industries you mentioned were in fact bought out by Chavez at Current Market Prices."

"In fact?" I can't imagine where you heard that, but I don't think that you can support it. How are "market prices" determined for assets of such size? There is no liquid market for oil fields. Corporations have means of valuing the net present value (NPV) of future cash flow, but those valuations depend on forecasts which are debatable. Rarely do buyers and sellers agree on a simple price, and they certainly can't turn to a "blue book" or comps to find one.

Prices simply have to be negotiated. Had they been, we wouldn't be talking about expropriation.

Or... consider the publicly traded companies that he siezed. Did he pay market value for CANTV shares? As Tinto points out, that would be news to the shareholders.

MM: "It has been said any future Nationalizations would be carried out in the same manner so its not a Grab like Cuba pulled way back when."

I'll let the awkward passive construction of "it has been said" slide... and just point out that that statement depends on your prior statement for its meaning. The prior statement is false, ergo...

Moving on to the next post:

MM: "a lot of US industries may complain also with buyouts do to sagging sales, legacy cost ect. Who determines the fair price? Is a Lowball price fair in the USA but unfair when it happens in another country??"

I don't mean to be any snarkier than I usually am... but do you understand the difference between a buyout and an expropriation? When you throw around terms like "fair" do you understand the context? Because it's so much that the price is or isn't "fair..." in a free market, anybody, including the government, can offer any price they want, and buyers and sellers often disagree on what a "fair" price actually is.

It's being forced to accept that price by soldiers that becomes problematic in most Western legal traditions.

Blah. Tinto explains it better than I.

I'm more curious about your growing enthusiasm for Chavismo. Is it because it defies conventional wisdom, and conventional wisdom bores you? Do you really think nationalizing not only oil, but telephone, utilities, vast tracts of land, and major industries is the way to go? Do you think all that money you are seeing thrown around - and I'll agree with you that it's huge - represents healthy economic growth?

Wasteland

0 funny, 0 helpful.

miamimike says on May 7, 2007, 10:06:

Podborski- You may want to rethink that Statement and here is Why. "The suggestion that warren buffet must be investing there is a joke, at best." Not really a Joke! Evidently, Warren Buffet is unaware of it! Really! You want to read that paragraph in the below Link about Buffet owning major shares of COP(conoco phillips)who has a major drilling interests in Venezuela. He (buffet) has been in Venezuela for some time the truth be told,,,

"The documents filed with the Securities and Exchange Commission Monday are the first to mention Berkshire's holdings in ConocoPhillips because Berkshire had sought confidential status for its investment in the company, which was initiated last year.

Berkshire held 9.6 million shares of ConocoPhillips, worth about $559 million, on Dec. 31. Omaha-based Berkshire nearly doubled that investment by March 31 when it held 17.9 million shares worth about $1.1 billion."

"Now he's bought a stake in ConocoPhillips [COP] and GE.

COP is thus officially certified as the oil stock for the value crowd. It also happens to be well diversified oil major, having investments in tar sands projects in Canada and ********** Venezuela,********** in oil production in Russia via a stake in Lukoil, large US oil operations including refining, and, having just bought Burlington Resources, extensive North American land based natural gas production.

But let's not forget GE also has a large energy business which has been targeted for expansion by CEO Jeff Immelt, producing items for natural gas, clean coal, wind and nuclear power generation.

So apparently Warren Buffett knows a little something about energy...."




http://lobg2.blogspot.com/search/label/Warren%20Buffett

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

Wastelandlive says on May 7, 2007, 10:20:

You are arguing that because WB... ... owns shares of COP - and COP has some operations in Venezuela - that demonstrates that he is "heading in" to Venezuela?

Wasteland

0 funny, 0 helpful.

miamimike says on May 7, 2007, 10:24:

Wasteland what I don't like is the UnEqual Criticism I see placed on one person! I think its a fair statement by anyone's standards that Venezuela's Treasury has been looted for the last several decades. Why NO Criticism of the Past half Dozen Presidents when the looting was actually taking place from the 60s up until now? Where was the Outrage then? The Looting did not start and will not end with Chavez either in or out of office! I believe some of the disdain for him are his comments about Bush and his friendship with Castro ; personally I could care less about this. I'm more concerned about those Saudi Oil Sheiks that helped finance the 9/11 Terrorists that killed 3000+ Americans! Is the US angry because he is NOT our handpicked Dictator? Would it be any different if he supported the US in Iraq and dispensed with his Comments on Bush? I believe it would be and then he would be seen as Uribe. We would ignore anything else happening in Venezuela! We(usa) did just that in the past with Chile, Argentina, Nicaragua, Guatemala ect! BTW, Uribe is our friend as long as the Money flows from Plan Colombia, once this stops so does the friendship. The great war on Colombian drugs is a failure as evidenced by increased product and Purity and decreased street prices today. Its not working! Thought that is what the money from Plan Colombia was primarily to be used for,,, The former Venezuelan group who lost their privledged suckling position at the Teat of the Public Money Trough are angry now that another group has moved into their position and they in time will loose their position also.In that country its an endless cycle. BTW, I see few middle to low working class heading to Miami, mostly its those Millionaires buying those fancy homes out on Key Biscayne who are asking for Asylum in the USA. Where was this same group when these past Caudillos were raiding the Venezuelan National Treasury??? When the time comes, if it does and if the Venezuelan people are tired of Chavez, they can vote or revolt and toss him out,,,LOL

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

miamimike says on May 7, 2007, 10:31:

Yes Tinto but ANYONE like Buffet that Owns the Number of Shares Buffet owns is more then a Casual Investor. He is a Major player by any standard,,,17.9 Million Shares,,,Far more then a tiny slice,,,Give me a few shares of BH Stock-I will gladly take those small slices at todays market prices,,,

"Berkshire held 9.6 million shares of ConocoPhillips, worth about $559 million, on Dec. 31. Omaha-based Berkshire nearly doubled that investment by March 31 when it held 17.9 million shares worth about $1.1 billion." I would say by doubling his position in COP
he is in fact heading in,,obviously he is NOT retreating,,,Why would he Double his Position???

BTW, is COP the only company that Buffet has large positions in,,,or are their others like Caterpillar,VE subsidary ect?

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

Wastelandlive says on May 7, 2007, 10:50:

Well, I might surprise you. I couldn't care less about the theatrics, either.

And yes, ALL of Venezuela's prior administrations were both populist and corrupt.

I would credit the lack of criticism or - more accurately - the milder criticism of earlier governments to two things:

1) US interests weren't effected. Truth be told, they are only beginning to be effected now... oil companies haven't fought back because they have been making money hand over fist, and they don't want to suspend operations.

Maybe that can go on forever... I don't know. It's hard to see energy getting cheaper. But I CAN see Chavez getting more and more drunk on power, and making increasingly bad decisions. And that means IMHO that there will come a point where multinationals turn to there respective governments for help... that is the way the world works.

2) Prior governments, while corrupt, were not nearly so divisive nor irresponsible with the state finances.

For example, there was transparency at PDVSA. And banks acted according to internationally accepted banking norms. The central bank was independent.

That's all falling away as Chavez slips into his delusion that he can order the tide to come in or go out...
_________________

No doubt a lot of the criticism you see is just politics, the grousing of the class of people he has thrown out of power and replaced with his own.

But is it all? Is the creeping militarization simply a figment of their imaginations? How about the expropriations... do you really think this is benign? I mean... forget about the owners that have been stolen from, for a moment... what was phone service like in Venezuela BEFORE CANTV was privatised?

What will it be like now?

(I wonder what the incentive is for successive administrations to reverse prior publicise/privatise decisions... do you think that they might benefit, as individuals, from negotiating those deals? Take a small slice of the massive funds that change hands? Whose watching them?)

How are the companies that he expropriated and turned over to the employees doing?

How about all that land he expropriated... are we seeing a new generation of yeomen farmers rising up in Venezuela?

(Looks like a new generation of carjackers, hostage takers, and ATM thieves, if the government's own statistics are to be believed.)

MM: "When the time comes, if it does and if the Venezuelan people are tired of Chavez, they can vote or revolt and toss him out,,,LOL"

It's not funny if you are a middle aged man who's entire net worth, friends and families are all in Venezuela. It's not funny when it costs blood to take back rights that were won generations ago and presumably guaranteed by your government.

It's not funny at all.

Wasteland

0 funny, 0 helpful.

Wastelandlive says on May 7, 2007, 10:53:

"Why would he Double his Position???" Because energy is a smart play right now, and COP is developing some very important fields... in Asia, in particular.

Did you read something that lead you to believe that Buffet was investing in COP because of their Venezuelan operations?

Wasteland

0 funny, 0 helpful.

podborski says on May 7, 2007, 13:16:

Didn't I read that conoco was the one firm holding out against chavez's offer?

I am a big buffett fan, and he MIGHT invest directly in Venezuela if he had some other form of gov't guarantee, or IF the prices were so ridiculously low they made the risks/benefit look ok, but it's a stretch to say the least.

I'd talk about my investments on the internet more readily than I would with people I know and who know me.

Right now I am holding only 3 stocks, all ones that people and traders are sick of, or even hate: Wal-Mart, Microsoft and Pfizer. The more people hate them, the better I like them. I have done very well being a contrarian, like Buffett.

Kind of boring but I don't need any risk with my savings, I'm already out on a limb with starting my own business in a foreign country with a wacko socialist govt.

0 funny, 0 helpful.

miamimike says on May 7, 2007, 14:33:

Wasteland-Thats the Trouble with the Venezuelans and the Cubans. Instead of staying and fighting for their beliefs they "Cut and Run" and then complain from the shores of Miami. This US Veteran has no sympathy for them. They should either stay and attempt to reform what it is about their country they dislike or then foment a revolution and remove the guy from power. What they should not do is cut and run to Miami. Money to fianance a revolution is not a problem in either case(cuba or Ven) as evidenced by the massive amounts of $$$$ the Venezuelans invest here(business, real estate) Rich Miami Cubans could easily send supplies back to Cuba, seeing how large smuggling boats tread in and out of cuba daily. They simply don't have the willpower. I'm not concerned about either country as neither is a threat militarily to the US but if they cut us off on OIl it may harm the economy. So far that is not the case as I saw the Big Gas Hog SUVS stepping up to the Pump and paying $3.55/gallon on south beach last night! My vote would be to get along with the guy as we do with the Saudi Arabs(worse then chavez-they supported the 9/11 guys)as if we have a choice. As long as we (not I)in the USA want those big gas hog SUVS, we have to sadly pay the price. We have dealt with worse foreign governments in our history as a country!

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

slguy says on May 7, 2007, 14:39:

Well- I have to admit, it's intriguing to see a guy who obviously is educated become an apologist for Chavez.

Did anyone see the quote from Chavez mentor, the old politician (can't recall his name just now)that first encouraged El Payaso to run for president? He resigned his cabinet post after 3-4 years, and shortly afterwards, when asked if Venezuela has a political crises, replied "No, Venezuela has no political crises. Venezuela has a psychological crises- living in the President's house."

And no - I couldn't care less about Hugo's name-calling. While you can rail all you want about the sins of the past governments - never has there been an exodus of professionals from that country to anywhere NEAR equal the flight today. But that's OK- let Hugo's illiterate backers from the slums of Caracas fill those engineering, legal, and technical jobs. No problem, right?
slguy


Now I don't have to tell you good folks what's been happening in our beloved little town. Sheriff murdered, crops burned, stores looted, people stampeded, and cattle raped. The time has come to act, and act fast. I'm leaving.

Before you throw me out, make sure I pay my bar tab

0 funny, 0 helpful.

miamimike says on May 7, 2007, 14:43:

I would say that by Doubling his shares is evidence that he(wb is in fact heading in financially! He sure is not pulling out! Usually Investors who are dissatisfied with a country or company sell off shares to display their dissatisfaction with a Fund's direction or in this case a country's direction/policy ect. This does not appear to be the case with Venezuela and Buffet. If I am not mistaken he pulled out of Investments way back when Apartheid was the rule of day in south africa.

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

miamimike says on May 7, 2007, 14:51:

Slguy-I believe those who are bailing on Venezuela presently "never has there been an exodus of professionals from that country to anywhere NEAR equal the flight today. But that's OK- let Hugo's illiterate backers from the slums of Caracas fill those engineering, legal, and technical jobs"

are from the older controlling money families in Caracas. When they feeding at the goverment trough and draining Venezuela's federal coffers for the last 30-40 years, it was OK! Now they have been removed and a new group happens to be doing the feeding and they simply are angry. So they leave and look for a new oppurtunity! As I posted, the facts are there are record exports of New Luxury Cars, All types of Consumer goods, Industrial goods, Computers heading out of the Port of Miami daily to Venezuela. Now if the Venezuelan economy was in such dire straits, pray tell where are all these exports headed to?

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

scotty says on May 7, 2007, 16:45:

invest in venezuela? yea, right! I'd rather buy a bunch of lottery tickets or go to Vegas and roll the dice.

Get Rhythm, when you got the blues. Johnny Cash

0 funny, 0 helpful.

slguy says on May 7, 2007, 20:27:

Mike I don't work at the port of Miami, so I can't say what is going where from there - can you?

But I do know that LOTS of middle class folks, middle managers, attorneys, engineers, etc are leaving Venezuela. NOT wealthy, prominent families only, but professionals whose only trough has been hard work. How do I know this? Because many of them are friends and acquaintances. The crime, the inflation, political uncertainty - all are factors driving middle class and upper middle class families from their country.

These are NOT the folks you describe. These are good, decent people trying to preserve what is left of their life savings, and some quality of life for their children.

Rant all you wish about the prominent families, and all the stuff headed to Venezuela. Maybe it's true- but I don't buy it. And I know for a fact that FAR more people than the oligarchs you describe are leaving in droves. I suppose it's the old money families appearing at the border with Colombia every day, as reports I've seen state?
slguy




Now I don't have to tell you good folks what's been happening in our beloved little town. Sheriff murdered, crops burned, stores looted, people stampeded, and cattle raped. The time has come to act, and act fast. I'm leaving.

Before you throw me out, make sure I pay my bar tab

0 funny, 0 helpful.

miamimike says on May 8, 2007, 01:30:

SL Guy-its mentioned in the Business section many times here in the Miami Herald concerning trade between Venezuela and the USA-sure no secret. BTW you needn't work at the port of Miami, Ship Sailing times and their destinations are common knowledge as well as their Cargo types. You may not want to buy it but its fact and fairly transparent.

"Trade: Exports (2006)--$64.5 billion: petroleum ($ 57.8 billion), aluminum, steel, chemical products, iron ore, cigarettes, plastics, fish, cement, and paper products. Major markets (2005)--U.S. 57.5%, the Netherlands 5.2%, Mexico, 4.5%, Colombia 4.5%. Imports (2006)--$31.3 billion: consumer goods, machinery and transport equipment, manufactured goods, construction materials. Major suppliers (2006)--U.S. 30.2%, Brazil 10.1, Colombia 9.9%, Mexico 6.8%, China 6.7%."

Here in Miami where I live, I'd like to see where those middle/lower class Venezuelans live and work.I get around Miami quite often be it the beaches, Bal Harbor, Kendall, Weston, West Palm Beach, Pompano ect . Most Venezuelans live in Key Biscayne,Weston, Pompano Beach ect and these are far from Middle lower working class enclaves, very far from it.


http://www.traveldocs.com/ve/economy.htm

More on US/Venezuela trade: http://www.worldcityweb.com/home/MIA/statistics/view/99/

"South Florida exporters can barely keep up with shipments to Venezuela, where demand for consumer goods and construction equipment is growing at a fast clip. On the import side, Venezuelan shipments of gasoline are also on the rise."

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.

miamimike says on May 8, 2007, 02:06:

Miami Venezuelans Comments on Chavez "hundred impassioned Venezuelans dressed in black staged a demonstration on Wednesday in front of their country's Miami consulate to protest the policies of their nation's populist president, Hugo Chávez.

``No to communism!'' they shouted. ``Liberty.'' ``We don't want a Cuba in Venezuela.'' Their voices, and the sound of them blowing whistles and hammering on pots and pans, filled Brickell Avenue and caused many drivers passing by to honk their horns in a show of support.

Diego Arguello, 67, a retired businessman from Miami Beach, said the gathering was timed to coincide with similar protests in New York City and Washington, all staged to show support for the hundreds of thousands of Venezuelans marching in the streets of Caracas and other cities on Wednesday in opposition to Chávez's leftist-leaning government.

It was one of the first political demonstrations staged by the mostly business- and professionally oriented Venezuelan community in South Florida, estimated by protest organizers at between 80,000 and 100,000 people" So out of 80k-100K Venezuelans who supposedly live here in S Florida, 200 mostly upper class types turn out to protest, where are the other 79,800 to 99,800 to show their displeasure with Chavez?
http://www.latinamericanstudies.org/venezuela/miami.htm

********"While UPPER-Class Venezuelans have been trickling out for years, the Exodus appears to have stepped up after Chávez's resounding electoral victory in December secured him another six-year term.******** The president has since ramped up his divisive rhetoric and began purging the government, his political party and even the military of anyone who is not aboard his project for ``21st Century socialism.''

'At all levels, it is required . . . to raise the flag that says `fatherland, socialism or death,' '' the president told a military audience last month, adapting a phrase from one of his mentors, Fidel Castro. ``If anyone doesn't feel comfortable with this, it's better they retire from the [military] service.''

Ruth Capriles is among those Chávez opponents who went from the ballot box to the ticket counter after the president's landslide reelection in December.

''After that, I realized we're not going to be able to get rid of him,'' said Capriles, who moved to Florida a month ago and now lives in Miramar. ``I finally reached a point when I decided there was nothing else left to do but leave.''

Capriles was active in groups working against Chávez, going door-to-door to campaign for the candidate who ran against him, Manuel Rosales.

''I wasn't politically persecuted, but after doing that kind of opposition work everything becomes more difficult,'' she said. ``Finding work or any dealing with the government becomes more complicated, so we decided to give living here a try.''

Despite his passionate detractors, Chávez remains immensely popular. He has won three elections since 1998, fought off a recall referendum in 2004 and is financing vast social programs that offer health and education services in areas long neglected by governments past.

His economy is rumbling along with the help of high oil prices, and Chávez's supporters say he's spread the country's wealth.***** A recent study by Caracas-based Datos Information Resources said that the buying power of Venezuela's lowest socio-economic class has increased by 150 percent in the last 3 ½ years,***** and that half of all Venezuelans have made use of at least one of Chávez's social programs.

*******''I don't think leaving the country is going to resolve anyone's problems,''****** lawyer Marbelis Valero, 38, said as she waited in line for a short-term tourist visa at the U.S. embassy, "People exaggerate what's going on here."




http://www.miamiherald.com/579/story/92081.html

Avatar Legend: Bush "If any of you Reporters are wondering, it was a Size 10"

0 funny, 0 helpful.