Venezuela Falling Behind

Christopher Frank writes "Seems Venezuela's lack of power has finally caught up with them! MSNBC has the story: 'If you thought Venezuela's political crisis seemed to be dragging for an impossibly long time -- you were right. In a bizarre mass-malfunction, Venezuela's clocks are ticking too slowly due to a power shortage weakening the electric current nationwide. By the end of each day, the sluggish time pieces still have another 150 seconds to tick before they catch up to midnight.'"

Comments

corrections!

[lingqi]

It's not the lower power / current / whatever. It's the lower frequencies on the AC lines.

And besides any quartz clock won't be affected anyway. The ones that will suffer is those bedside alarm clocks you plug in - those red / green ones that are oh-so-common in the US.

Any idea why there are 0 of them in Japan? Japan runs on 50Hz east side and 60Hz west side, which would make clocks like that completely fall over itself. (something about buying geneator equipment from siemens (europe) for the east side and from US for the west-side - and stuck)

Interesting, but I don't think it's really that much of a "news." should at least up the "it's funny" icon

Re:I know far less than I should.

[gmajor]

Cesar Chavez was a Mexican union activist in the 1960's. Hugo Chavez is the man you want, a man who attempted his own coup in 1992. When that didn't work, he ran for el Presidente. And won.

About 70% of the population is in poverty, the base from which Chavez draws his support. The middle class (and upper class) seemingly hate him, which is why his communist ideas resonate with most poverty-stricken Venezuelans.

Oil Curreny War To Blame For Problems

[muscleman706]

The link below discusses not just the Iraq war, but the how oil is tied to the world economies at a very low level and how Venezuela is in some sense at the heart of the matter with their use of oil as a fiat currency in lieu of the US dollar among their latin american trading partners. http://www.ratical.org/ratville/CAH/RRiraqWar.html Although completely suppressed by the U.S. media and government, the answer to the Iraq enigma is simple yet shocking -- it is an oil currency war. The real reason for this upcoming war is this administration's goal of preventing further Organization of the Petroleum Exporting Countries (OPEC) momentum towards the euro as an oil transaction currency standard. However, in order to pre-empt OPEC, they need to gain geo-strategic control of Iraq along with its 2nd largest proven oil reserves. This essay will discuss the macroeconomics of the `petro-dollar' and the unpublicized but real threat to U.S. economic hegemony from the euro as an alternative oil transaction currency. The author advocates reform of the global monetary system including a dollar/euro currency 'trading band' with reserve status parity, and a dual OPEC oil transaction standard. These reforms could potentially reduce future oil currency warfare.