Guess what?: if you steal from investors, they aren't very thrilled investing more money

It seems like a pretty simple lesson, but Hugo Chavez is learning that capitalists make production possible.

In anticipation of Thursday's Carabobo oil field auction, outspoken Marxist president Hugo Chavez quietly pleaded for foreign investment.

""Investment and experience from foreign oil firms is necessary in Venezuela. We need it," Chavez said, according to Dow Jones.

The statement is a serious turnaround for a government that has nationalized dozens of foreign oil companies in recent years. But they 'need' foreign investment because mismanagement is turning the country into just another failed petro-state. . . .

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Blogger Top of the Chain said...

I so hope they 'quietly' tell that jumped up tin pot paratrooper to go take a long walk out of a high altitude aircraft sans parachute.

1/27/2010 6:53 AM  
Blogger Kevin Crystal said...

"Steal from investors"....you mean like pushing the bondholders to the back of the line in GM and Chrysler's bankruptcies?...

1/27/2010 12:26 PM  

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