Venezuela’s commie caudillo, Hugo Chavez, steals U.S. property.
Hugo Chavez, the firebrand President of Venezuela, delivered a fresh blow to foreign investors yesterday, saying that he would not pay market value for the US-owned telecommunications company that his Government is seizing.
Shares in CANTV, which is controlled by Verizon Communications, of the United States, plunged 16 per cent in New York. CANTV’s stock had taken a beating two weeks ago when Mr Chavez announced his intention to nationalise the company, along with other utilities.
But he’s a friendly dictator, who gives cheap heating oil to America’s poor. Or at least he’s no worse than evil, exploitative American companies. Or so says Joseph P. Kennedy II.
If objections to Venezuelan oil are about democracy, then critics should look at the December elections won by President Hugo Chavez with nearly 70 percent of the vote. Venezuelans have now spoken four times in his favor.
I’m not going to defend or demonize Chavez for his moves toward socialism, but it does seem like we favor selective socialism here in the United States for big corporations that get to socialize risks and privatize profits.
Because we wouldn’t want to demonize the expropriation of private property.
Kennedy’s message: “I have seen the future, and it works!” In Venezuela, that is.
More on Chavez’s latest move toward Cuban-style dictatorship is available in this good summary of foreign press reports.
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