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View Full Version : Death of Hugo Chavez could set off shock waves across region



Rockntractor
01-05-2013, 09:02 PM
Mr Chavez has instead lavished the windfall of the world's largest known oil reserves to support his left-wing allies abroad and cement the loyalty of the dependant poor at home.

Mr Coronel, a former oil industry executive who tracks corruption in his homeland, estimates that Mr Chavez has spent a mind-boggling $1 trillion of state funds to support foreign allies or domestic political constituencies who support him.

But that lavish cheque-book socialism has taken a disastrous toll on coffers that should be flush thanks to high oil prices.
http://www.telegraph.co.uk/news/worldnews/southamerica/venezuela/9782566/Death-of-Hugo-Chavez-could-set-off-shock-waves-across-region.html
This is a small piece from an interesting article, does any of it sound somewhat familiar?