Chavez’s brilliant economic management continues

Cause (January 9, 2007):

Chavez to nationalize electricity and telecommunications

Venezuela President Hugo Chavez yesterday announced plans to nationalize Venezuela’s electrical and telecommunications companies, pledging to create a socialist state in a bold move with echoes of Fidel Castro’s revolution in Cuba.

Effect (today):

Venezuela Announces Nationwide Energy Rationing

Venezuela’s government is starting rolling blackouts of four hours every other day throughout the country to combat an energy crisis.

It took just two years for Chavez to run Venezuela’s electricity infrastructure into the ground.

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