Friday, August 23, 2002

B.R. 101: Another Economic Mystery brought to you by...... B.R. 101: Another Economic Mystery brought to you by...... The Venezuelan economy shrank by 9.9% in the second quarter, after shrinking 4.1% in the first quarter to give a combined record of 7.1% the largest such contraction for one quarter in the country's history. Isn't this the definition of a depression? Or is that just the way I feel? Way to go Hugo Chavez!! The Government blames the strike in April for this, but the economy had shrunk 4.1% in the first quarter before there was a strike. Remarkably, oil prices have been at extremely high levels all year long and are today at almost the highest historical levels. What can you expect from a Government that misplaces US$ 2.3 billion (or is it more?). 11:30:02 AM    comment []

Digression 7: Affinity: Digression 7: Affinity: Somehow when I saw this cartoon I identified myself completely with it, that's exactly how my mind looks when I relax:       7:49:55 AM    comment []