Economic challenge for Venezuela

President Chavez has created a revolutionary movement that promises to better the life of every citizen of Venezuela. This challenges the capitalist ideology of George Bush and the republican party in the United States. The United States has adamently opposed any market restrictions that require accountability by corporations operating in the global market. This has now proven to be a total disaster with the collapse of the Bear Stearns bank. Law professor Michael Greenberger of Maryland University in his interview with NPR (national public radio) on April 3rd defined the cause of this collapse as the 2000 republican party conspiracy led by President George Bush and the republican congress to deregulate the markets and Wall Street specifically. The deregulation of the markets allowed speculators to control the markets with no accountability of the speculators. President Bush in his tunnel vision approach to politics has allowed the United States to become involved in an Iraq war quagmire that has cost $3 trillion and and rising which has made President Bush seem foolish and extravagant. President Bush has the lowest popularity ever recorded for a President of the United States at 28%. This made President Bush paranoid and motivated him to misuse his presidential office and authorize warrantless wiretaps of political opponents which were the democratic party officials. This spying on political opponents snared Govenor Elliot Spitzer in a sexual scandel
that forced his resignation and ended the sheriff of wall street making accountability necessary for market speculators. A major concern for the markets now is will further misdeeds result in the collapse of the markets entirely. Venezuela may well hold the key to American markets because President Chavez has succeeded in gaining majority control of the oil companies operating in Venezuela. This means that the oil companies will be held accountable for their misdeeds. Obviously Exxon Mobil is rebelling against the prospect of being held accountable and will resist to the bitter end. President Chavez has created social democracy that may become a model for the United States to emulate. We will follow events in Venezuela with great anticipation.