Sunday, June 20, 2010

Food crisis in Venezuela

Big surprise- price fixing leads to shortages, black markets, corruption...
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Mountains of rotting food found at a government warehouse, soaring prices and soldiers raiding wholesalers accused of hoarding: Food supply is the latest battle in President Hugo Chavez's socialist revolution.

Venezuelan President Hugo Chavez says government-led raids of food markets will reverse exploitation of the poor, whom he needs for political support.
Venezuelan army soldiers swept through the working class, pro-Chavez neighborhood of Catia in Caracas last week, seizing 120 tons of rice along with coffee and powdered milk that officials said was to be sold above regulated prices.

"The battle for food is a matter of national security," said a red-shirted official from the Food Ministry, resting his arm on a pallet laden with bags of coffee.
...
Jose Guzman, an assistant manager at a store raided in Catia, watched with resignation as government agents pored over the company's accounts and computers after the food ministry official and the television cameras left.
"The government is pushing this type of establishment toward bankruptcy," said Guzman, who linked the raid to the rotten food scandal. "Somehow they have to replace all the food that was lost, and this is the most expeditious way." 
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Food prices are up 41 percent in the last 12 months during a deep recession, government figures show, despite the government's growing network of state-run supermarkets that sell at discounts of up to 40 percent and are popular with his poor supporters.

Monday, June 14, 2010

That's ok, schools are twice as good

What could go wrong here

Astounding Mineral Find in Afganistan

Who you calling 3rd world, losers?  Now let's see if they can handle winning the lottery without imploding.
Oh, and so much for that widely reported "peak lithium" problem.


http://www.nytimes.com/2010/06/14/world/asia/14minerals.html?pagewanted=2&no_interstitial

Saturday, June 12, 2010

$400 Million, small catch

Obviously the $400m is insane to begin with, but this is beyond:
President Obama promised a $400 million aid package for the West Bank and Gaza on Wednesday, as the United States scrambled to come up with a way out of the stalemate in the Middle East exacerbated by the Gaza flotilla incident last week.
Mr. Obama, meeting with Palestinian Authority President Mahmoud Abbas at the White House, said that the money would go to housing and schools. White House officials said that the money also would help increase access to drinking water and to help address health and infrastructure needs.
The exact details of how such aid would be used in Gaza remained unclear. Nor was it immediately clear how Mr. Abbas, who has authority in the West Bank but no authority in Gaza, would be able to administer it.
http://www.nytimes.com/2010/06/10/world/middleeast/10prexy.html?partner=rss&emc=rss

Friday, June 4, 2010

Spendulus Brilliance

I know, let's pay people money to destroy assets- that's the ticket! What could go wrong?
Worked exactly the way any rational thinker would have expected- accelerated purchases that were going to be made anyways: