Thursday, March 5, 2009

Venezuela and the US Are Alike

Mar 05, 2009 07:08

Venezuela and the US Are Alike

U.S. Treasury Secretary Timothy Geithner is no better or worse than President Hugo Chavez when both vow to use state control over private industry to live out the beliefs of one constituency against another.

Venezuela bankrupted itself by believing the Peak Oil hoax and budgeting to $60 oil, while the US destroyed its auto industry by believing the Climate Change hoax.

"Chavez is seeking to ensure that his core support, the poor, can still fill their shopping baskets with food," by tax and regulatory force while the equally contemptible Geithner said "oil and natural gas producing companies should not receive federal subsidies in the form of tax breaks."

The US is like Venezuela in that both have industrial policy: "U.S. energy policy will focus on promoting renewable energy," while in Venzuala, "Production quotas and prices have now been set."

It is good that there is enmity between Chavez and Obama since both statist should be tried.