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Peru: A Shooting Star Turns Red
IBD Editorials ^ | June 6, 2011 | Staff

Posted on 06/06/2011 5:59:55 PM PDT by Kaslin

Elections: For years, Peru has been Latin America's top-performing economy, leading the pack on GDP, inflation, poverty eradication, free trade and markets. So why did Peru's voters suddenly elect a communist?

Markets plummeted in Peru on Monday after leftist Ollanta Humala won Peru's presidency with nearly 51% of the vote. Stocks on the Lima exchange fell 13% at last glance, their biggest one-day drop since records began in 1990. Bonds and the currency were down, too.

It was painful because Peru had been the brightest light among Latin America's economies. Embracing markets over two decades had paid off handsomely for Peru. Last year, the Andean state posted 7% GDP growth, the highest in its region; and 2.7% inflation, the lowest. Per capita GDP had risen to $9,330, and the poverty rate had dropped to 30%.

Peru didn't just have "Asian-tigerlike numbers," as Latin Business Chronicle Executive Editor Joachim Bamrud told IBD, it also outperformed its Latin American rivals like an industry leader. During the 2009 economic crisis, when investment fell 40% across the region, Peru's foreign investment rose 28% to $6.2 billion. At a time when average GDP in the region fell 1.8%, Peru's grew 0.9%.

So what made voters in such an enviably growing country want to elect someone like Humala?

(Excerpt) Read more at investors.com ...


TOPICS: Business/Economy; Culture/Society; Editorial; Foreign Affairs
KEYWORDS: latinamerica; peru

1 posted on 06/06/2011 5:59:55 PM PDT by Kaslin
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To: Kaslin

Without reading the article I’m guessing an appeal to tribal loyalties much like those in Bolivia.


2 posted on 06/06/2011 6:04:10 PM PDT by saganite (What happens to taglines? Is there a termination date?)
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To: saganite

With the election of Barack Obama, nothing should be surprising.


3 posted on 06/06/2011 6:06:08 PM PDT by 1rudeboy
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To: Kaslin
'You shall not covet your neighbor's house; you shall not covet your neighbor's wife, nor his male servant, nor his female servant, nor his ox, nor his donkey, nor anything that is your neighbor's.'

Communism is all about breaking this commandment.

Peru's Humala voters, known as the resentidos, resented the success of others even as the benefits spread across the country.

Humala's supporters like all communists are covetous ingrates.

4 posted on 06/06/2011 6:06:56 PM PDT by A message
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To: Kaslin
I had no idea that Peru had ever been doing well, I always thought it was a 3rd world hell hole.
5 posted on 06/06/2011 6:18:41 PM PDT by Husker24
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To: Kaslin

Being successful is a guaranteed way of drawing the looters out of hiding to plunder by promising the have nots that they will steal from the haves and give it to them.


6 posted on 06/06/2011 6:19:07 PM PDT by Blood of Tyrants (Islam is the religion of Satan and Mohammed was his minion.)
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To: Kaslin

This could get real ughly really fast. They have elected a complete POS! We can hope the army is still on the right side!


7 posted on 06/06/2011 6:20:08 PM PDT by WellyP
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To: Kaslin
Proof that you can take the morons out of the craphole but--you can't take the crap out of the morons.

Sooner or later the dog returns to his vomit.

8 posted on 06/06/2011 6:25:45 PM PDT by hinckley buzzard
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To: A message
'You shall not covet your neighbor's house; you shall not covet your neighbor's wife, nor his male servant, nor his female servant, nor his ox, nor his donkey, nor anything that is your neighbor's.'

Communism is all about breaking this commandment.

Amen

9 posted on 06/06/2011 6:26:34 PM PDT by frogjerk (Liberalism: The ideology of envy.)
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To: Kaslin
We'll have a giant war in South America one day and we'll have to remove 10 million communists.

Then we'll have to move north and take care of our own.

10 posted on 06/06/2011 6:42:03 PM PDT by Mariner (War Criminal #18)
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To: Kaslin

“It’s not the people who vote that count. It’s the people who count the votes.” - Josef Stalin


11 posted on 06/06/2011 7:02:00 PM PDT by CharlyFord
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To: WellyP

They elected a communist just like the one 52.9% of American voters elected in 2008. That just pi$$es me off... in BOTH instances.

LLS


12 posted on 06/06/2011 7:09:44 PM PDT by LibLieSlayer ("If you lie hard enough and sell your soul... you can scam your way to the top" barack obama)
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To: 1rudeboy

“With the election of Barack Obama, nothing should be surprising.”

Nope. The Islamic revolution wildfire is part of it too.


13 posted on 06/06/2011 7:16:31 PM PDT by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: A message

You are correct. Makes a beeline from covetousness to murder too. Every single hard communist country does, and sooner rather than later.


14 posted on 06/06/2011 7:17:46 PM PDT by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Mariner

We’ll have a giant war in South America one day and we’ll have to remove 10 million communists.

Then we’ll have to move north and take care of our own.

*****************************

Reverse the order, I think.


15 posted on 06/06/2011 7:18:38 PM PDT by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Kaslin

It seems contrary to the trend elsewhere...


16 posted on 06/06/2011 7:19:06 PM PDT by RockinRight (Who is "Generic Republican" and why does he poll so much better against Obama than anyone else?)
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To: LibLieSlayer

It probably represents an authentic support in the mid to high 40 percentile. The rest is fraud. Here, anyway.


17 posted on 06/06/2011 7:19:55 PM PDT by Psalm 144 (Voodoo Republicans: Don't read their lips - watch their hands.)
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To: Kaslin

Latin Americans are very susceptible to class envy. If they feel that the “rich” are growing faster that the “poor” they fall for the message that they are doing so on the backs of the poor.

Furthermore, they are addicted to government intervention in solving their personal financial problems. The first response to any grievance is “why doesn’t the government do something about it?”

The common person in Latin America admires capitalism but insists that it is “cruel”, that is, it produces losers, as well as winners. In the long run, most don’t want to take the risk that capitalism requires.

At least these are my observations in the 20 years I have lived and/or worked with the middle and lower middle classes.


18 posted on 06/06/2011 7:27:02 PM PDT by Chaguito
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To: Psalm 144
About 38 to 42% of the population would vote dim even if there were no dim on the ballot... heck... even dead dims vote for dims... and they are DEAD!

LLS

19 posted on 06/06/2011 8:09:14 PM PDT by LibLieSlayer ("If you lie hard enough and sell your soul... you can scam your way to the top" barack obama)
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To: Husker24

Judging by the number of Peruvians still arriving in NJ every day, I assumed it wasn’t too well off. Our Peruvian Day parade is much larger than our St. Patrick’s Day parade, for which we used to be very well known.


20 posted on 06/06/2011 8:30:51 PM PDT by kearnyirish2
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To: A message; frogjerk

Yes, I have often thought that there was a special message to us that the final commandment was about coveting. People find all kinds of ways to justify breaking it, and doing so leads to the worst kinds of evil and societal destruction.


21 posted on 06/06/2011 10:49:34 PM PDT by Pining_4_TX
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To: Pining_4_TX
Yes, I have often thought that there was a special message to us that the final commandment was about coveting. People find all kinds of ways to justify breaking it, and doing so leads to the worst kinds of evil and societal destruction.

You are correct. The Social Justice leftists of the Church use the ignorance/breaking of this commandment in the pushing of their communist agenda in the Church.

22 posted on 06/07/2011 6:17:16 AM PDT by frogjerk (Liberalism: The ideology of envy.)
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