Monthly Archives: February 2009

Weekend Readings

US Economy in Worst Fall Since ’82 – Output Sank 6.2% Last Quarter; Plunging Trade, Investment Signal Trouble Ahead (More here) Citigroup: World’s Worst Investment to Get Even Worse (Ritholtz) Losers double down. The classic trading rule which the US … Continue reading

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Angkor Wat

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Venezuela fails annual US drug test

The government of President Hugo Chavez got slammed twice in a week by the US government, first on human rights and then on drugs. No surprise there. President Chavez and other barking Bolivarian burrocrats immediately condemned the US administration, and … Continue reading

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A High-Profile Kidnapping

Germán García-Velutini, president of Vencred Casa de Bolsa and brother of Banco Venezolano de Credito’s President Oscar Garcia Mendoza, was kidnapped shortly after 4 p.m. on 26 February near his office in San Bernardino. News reports about the abduction have … Continue reading

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Rumors of Mini-Madoffs

The Economy & Finance Ministry issued a statement saying it is “investigating” a “campaign of rumors” allegedly being promoted by “sectors interested in provoking bank runs by diffusing lies, falsifying the government’s financial policy, and trying to panic savers.” The … Continue reading

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Sir Robert Allen Stanford

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Hypocrites…or something else?

Former Vice-President/Defense/Foreign Minister Jose Vicente Rangel warned on his 22 February Sunday television show “Jose Vicente Hoy” that the Bolivarian Revolution of President Hugo Chavez “could founder…due to exhausting daily conflictiveness.” Rangel’s televised warning came two days after Chavez rejected … Continue reading

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Excerpts of the State Department’s 2008 Human Rights Report

Politicization of the judiciary and official harassment of the political opposition and the media characterized the human rights situation during the year. The following human rights problems were reported: unlawful killings; harsh prison conditions; arbitrary arrests and detentions; a corrupt, … Continue reading

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Sunrise Moonrise

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US debt repudiation, boiled frogs, fake smiles and taxing tokers

Paths to US Sovereign Debt Repudiation The United States eventually will repudiate its public debt. The means by which this happens is unclear. However, there are several paths to the same place, and it’s not necessary to choose only one … Continue reading

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