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February 11, 2007

Emigration from Venezuela

Revealed preferences it's called. Look at what people actually do to work out how they think:

Middle-class Venezuelans are queuing to leave the country amid fears that its president, Hugo Chavez, is laying the ground for a dictatorship.

At the US Embassy, visa enquiries have almost doubled in recent weeks, from 400 to about 800 a day. "There are normal spikes toward Christmas or another major holiday, but this increase doesn't fall into that category," said embassy spokesman Brian Penn.

The British embassy has seen a similar rise in numbers. "It has been increasing for some time, but what's different now is the tone of desperation," said a British spokesman.

Still, one rather good thing will come out of this. If all the rich people leave then the country will be poorer but more equal. After all, it's the equality that matters isn't it, not the level of wealth?

The Telegraph subs also need to be a little more accurate:

Opponents of his "20th century socialism" are

That would be 21st century socialism: whether there's actually a difference between the two or not is what worries many.

as well as take a larger share of oil operations in the Orinoco River belt, which produces 600 billion barrels per day.

600 billion bpd? I think not. The OPEC quota is around 3.2 million bpd isn't it? The 600 billion looks more like the total reserves than anything else.

February 11, 2007 in Scams and Frauds | Permalink


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Opec produce about 30m a day i think. World is 80m.

Posted by: Matthew | Feb 11, 2007 10:43:02 AM

600 billion bpod????

At that rate, the entire's planet's reserves will be spent within a week!

Posted by: Josh | Feb 11, 2007 11:53:22 AM

So, the wealthy fear redistribution from socialists? I'm not sure that this is an interesting story. Much more interesting is whether poor Venezuelans are nipping across the border, or moving permanently, or whether the flow of people is the other way round.

Posted by: Marcin Tustin | Feb 12, 2007 3:08:24 PM