The Devil's Excrement
Observations focused on the problems of an underdeveloped country, Venezuela, with some serendipity about the world (orchids, techs, science, investments, politics) at large. A famous Venezuelan, Juan Pablo Perez Alfonzo, referred to oil as the devil's excrement. For countries, easy wealth appears indeed to be the sure path to failure. Venezuela might be a clear example of that.
Last updated:
4/22/2008; 11:21:16 PM


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Thursday, March 13, 2008


The New York Times has this slideshow of how Venezuelans flock to Curacao to obtain their preferential rate dollars. Very pictorial, I have heard gripes from people from Curacao that we are making life miserable for them, because we empty their ATM's of US dollars and there are periodic shortages. So now we also export shortages...

(Note added: I was not aware the slide show accompanied an article on the subject, thanks to "Gringo" for pointing it out in the comments)

10:54:18 PM    comment []




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Last update: 4/22/2008; 11:21:16 PM.
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