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Chavez' Oil Bubble is Bursting

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Now for some good news: The vultures are beginning to circle the Caracas palacio of Hugo "Little Castro" Chavez. The sitings are slow to be reported, but they do have a certain vividness to them.

If Chavez couldn't pay his bills last fall, how do you suppose he is holding things together now when oil is a half what it was in October?

The hopeful winds from Venezuela are not all that unique. The United States may be in bad shape economically, but that doesn't necessarily open up opportunities for our natural foes in the Hemisphere. This fine piece on "Latin America's Quiet Revolution" by Stephen Haber in The Wall Street Journal ran several days ago, but did not get enough attention.

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