Edward Schumacher-Matos at The Washington Post thinks that despite having won a referendum that removes term limits and effectively allows him to be president for life, Hugo Chavez's days as president of Venezuela are numbered:
Venezuela is suffering from the worldwide recession, low oil prices, high inflation, and Chavez's mismanagement. Schumacher-Matos thinks that he will soon go the way of so many other socialist leaders in South America who drove their country to ruin.
There is a lesson here for the new Obama administration. It should not engage Ch�vez in public quarreling and certainly should not work privately against him inside Venezuela. Both approaches are a fool's errands, ones that leftover Cold War warriors foisted on George W. Bush during his first term. The clever Ch�vez verbally made Bush into a laughingstock south of the border and badly damaged hemispheric trust in the United States when the Bush administration seemed to endorse a 2002 coup against Ch�vez that failed.
Well, yes, but that's not the only lesson for the Obama administration. High inflation and economic recession are in the offing here at home as well, and these two apocalyptic horsemen have a way of trampling those who have the bad luck to be responsible for them.
President Obama's misnamed stimulus plan requires that we choose from among three unpalatable alternatives to get the money to pay for it: Either we raise taxes - which would strangle in the crib any nascent recovery; or we borrow trillions - if we can find lenders - and go into enormous debt for generations; or we just print the money we need to pay for all the spending the stimulus authorizes - which means we inflate the currency to close to Zimbabwean dimensions.
Whichever we choose we could easily become the next Venezuela, and Obama could be the next Chavez. He has until the summer of 2010 to make the stimulus work. If he hasn't done it by then - and few think he will - if unemployment is high and the value of the dollar is low, the writing will be on the wall. Voters will have weighed the Democrats in the balance and found them incompetent. Republicans will likely take back control of the Congress, if not numerically, at least in terms of being able to block any further manifestations of Democratic recklessness, and if that happens, Obama will either have to bend to Republican will and policies, as did Clinton with welfare reform, or risk being a one-termer.
As of yet it's not clear how Obama expects to pay for all the goodies he's loaded onto his sleigh - although from what I hear the printing presses are running merrily churning out crisp, new inflated dollars - but when we find out it will tell us much about what the next couple of decades will be like in this country.
* See here
RLC
