Posted on 10/31/2010 8:07:27 PM PDT by rdl6989
(Reuters) - Venezuela's President Hugo Chavez ordered the nationalization of local steel company Sidetur on Sunday in the latest of several recent government takeovers in South America's top oil producer.
(Excerpt) Read more at reuters.com ...
followed by shortages, price hikes and imported steel
We should tolerate nothing like this in the Americas. This guy is a cancer who should be eliminated, in the way that Castro never was.
Chavez is sitting on resources to wage war and become the dictator of South America if he gets far enough.
We know where the Kenyan Pretender comes down on this. But where is the Republican Party? Will they vehemently condemn this ominous act?
Back when Marcos took over in the Phillipiens, My grandfather company was nationalized. Not only did he lose it all with in 18 months it ceased to exist. Chavez is doing a great destruction that will take decades to repare.
No, their GDP will go up. Chavez can fix elections and take over companies. He certainly can run the government bureau of economic statistics.
Coming soon to a nation near you.
And don't forget the free-trade policies supported by both sides that did most of the damage.
I overlooked that. But who is he fooling, other than the UN?
Es el Rey Midas al revés. Todo lo que Chávez toca, lo convierte em mierda.
He's King Midas in reverse. Everything Chavez touches, turns into $h**.
When you invest in a foreign nation it's "at your own risk", you don't deserve a bailout or punishment of those govts that take advantage of you unless they violate a treaty of which both nations are participants. Socialism has been proven a failure, any nation that chooses that path deserves the ruin that follows.
Another business down the tubes, in the name of socialism. The goose that lays the golden eggs last gasp.
Cool.
Thanks.
Just throw the company out.
Concerning the Chavez comment about sulfur, he said it about Bush, not Obama. Here’s a link:
The American steel industry could have competed with any country if they were not so saddled with regulations,unions, and other government intrusions. No doubt that some of the free trade agreements were poorly thought out, but that is not the biggest reason the industry has all but folded here imho.
Back in ‘91 many thought Hussein’s days were numbered. As for Venezuela, I wouldn’t make any hasty conclusions. There are still a few buildings standing.
Without a horrendously severe reduction in American steel-industry wages (like 75% or more) and wipe-out of benefits, any tax & regulation decreases would not be enough. Now if you combine the tax & reg decreases with tariffs to wipe out the foreign competitions' otherwise insurmountable advantages (especially with regards to the Chinese) then you'd have a winning combo.
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