Benazir Bhutto’s death in Pakistan this morning is a huge blow to the global political infrastructure. While her reign in office was marked by corruption and poor policy decisions, political stability and law and order are essential to the progress of developing countries such as Pakistan. Her death has caused (more…)
The International Herald Tribune had a fantastic article today on how the growth of China is causing monumental changes throughout all of Southeast Asia. In particular, they profile the plight of Loatian farmers who previously collected crops and transported them by foot (more…)
The recent proposal by the Bush administration to freeze certain interest rates on sub-prime mortgages is one of the biggest steps away from capitalistic thought since the New Deal era. The proposition essentially will allow the government to hold interest rates below market value for those who are unable to afford them. Hugo Chavez would be proud of any proposal like this that rewards poor financial knowledge by providing the ‘less fortunate’ with greater access to capital than those who were intelligent about their real estate dealings.
Venezuela is undergoing an election of monumental proportions today that may give Socialist leader Hugo Chavez the ability to be in office for the rest of his life. The election is a complete redraft of the constitution and perhaps the most important vote in the history of the country. Many former supports of the government have recently defected, calling the newly drafted constitution a step in the wrong direction and giving far too much power to the current President. Even with such public defections and anti-constitution protests that have been seen all over the country the past week, the chance for approval is seen as greater than 50/50. (more…)