Published On: Wed, Mar 6th, 2013

Robin Hood Chavismo and their deceased Messiah

Jacob Gelt DekkerRobin Hood Chavismo created a mega do-gooder, a demi-god of mythical proportions but no new wealth of the nation.

Redistribution of wealth is macro economically neutral. Taking from the rich and giving to the poor may be deemed a divine, altruistic, socialistic or communistic virtue but it does not make the economy larger. It is nothing more than redistribution of existing wealth and some may call it, social justice.

So redistribution does not create new wealth, more likely, its immediate effect is mostly a net decline since intellectuals vote with their feet and skip out of the country for greener pastures elsewhere. Tens of thousands Venezuelan oil engineers headed for the USA- Key Stone pipeline and Canada’s Alberta oil fields, leaving behind in the Orinoco Delta an unmanned highly sophisticated oil exploration, exploitation and refinery business.
Most of the thousands of Chavez loyalists who replaced these highly skilled workers were trained for warfare in the military.

No surprise that output of Pdvsa, the State oil company, plummeted by 30%- 40%. Only additional production increases could have created additional wealth permanently. So will the poor, who moved to new free social housing, who enjoyed free health care and education also become contributors to a new economy and create lasting wealth for the nation?

So far arrogant governmental indifference ruthlessly exploited countless innocent and ignorant common workhands in the state refineries. They were casually sacrificed when fires raged due to poor maintenance like last September 2012 in El Palito.
Venezuela’s Bolivarian Revolutionary Messiah is dead, leaving behind an economy in shambles with heavily over extended social programs on one hand and waning oil revenues on the other. South America and the Caribbean are bracing themselves for a tsunami of kinds to come.

It is not likely that Venezuela’s finest and best--- its intellectuals and knowhow--- will repatriate soon to a nation in turmoil and total chaos, if ever. They found highly profitable challenges in their new environments.
For over one full year, Venezuela and its people preferred to deny the reality in front of their very eyes; an ailing president suffering from a deadly cancer. The patient was cloaked in top secrecy, bizarre political concoctions and delusional aspirations. More than anything, those very attributes shaped the image, which has become the trademark of his appointed successors. The entire world witnessed that the transitional government of Venezuela was unable to deal with adversity and reality. Instead, they lied to their very own people.
The belligerent leadership of Hugo Chavez built an international reputation on revolt and adversity. A string of delusional assassinations plots were concocted, massive military invasions dreamt up and imaginary coup d’état schemes made up. Even on the very day of Chavez death, officially his demise was blamed on an international poisoning plot, there with eroding every bit of credibility.

Chavez’ international entourage from Fidel Castro, Saddam Hussein, Muamar Gadhafi to Assad and Ahmadinejad already either perished or is themselves in such peril that they rather pose a liability than an asset to Venezuela’s immediate future; does not a rogue nation have rogue friends?

A corrupting flow of cheap or free oil to these so called allies is not sustainable and will most likely be stopped soon. After all friendships for sale run out when the money does.
Inevitable, rather sooner than later, an economic domino effect could hit the recipient states of South America and the Caribbean. Whether this will burst into a full-fledged South American spring revolution like we have seen in Africa and the Middle East a few years ago, is to be seen.

One thing is for sure, in an environment where fact and fiction merge into concoctions, inventions construed to cover up lust for power and the greed for financial gains of a small junta, every forecast is idle. Better brace yourself!

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