"The trouble with lying and deceiving is that their efficiency depends entirely upon a clear notion of the truth that the liar and deceiver wishes to hide."
Hannah Arendt
We understand that Mr. Chavez can not be pleased with the GDP data released by his Central Bank showing an economic contraction of -5.8% for the quarter. He is deceiving all of his constituents by blaming the poor result on “the capitalistic calculation method” the index uses.
Lets examine the facts: Mr. Chavez ordered 20 percent cuts in electricity usage, and industrial production plunged -9.9 percent in the quarter. His incendiary speech against the private sector as well as his nationalization decrees are in great part responsible for the commerce sector and financial sector contractions of -11.6 percent and -9.7 percent respectably. More troublesome, Venezuela’s oil industry contracted -5 percent, the non-oil sector fell -4.9 percent in the quarter and private consumption dropped -5.9 percent.
In our opinion, a new “Socialist-friendly gauge”, could be obtained my multiplying the final result from the index by negative one which will immediately take the Venezuelan economy from being the worst performing economy in Latin America to the best performing one.
The commandant should know that “Liars begin by imposing upon others, but end deceiving themselves”
Thursday, May 27, 2010
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