Caracas Chronicles

If any final confirmation of the fundamental lack of seriousness of the chavista project were needed, VTV’s ecstatic reception of JPMorgan’s decision to upgrade Venezuela’s bond ratings surely must be it.

Lets stop and ponder this little nugget for a moment: the Chávez government makes a decision that shifts purchasing power from El Pueblo to The State,  improving the latter’s creditworthiness at the expense of the former’s. The Ultimate Symbol of International Financial Capitalism – we’re talking about JPMorgan, ferchrissake! – notices this, thinks "bloody hell, Venezuelans may not have any money to buy groceries by the end of the year, but the Venezuelan government sure is going to have the cash to pay off international financiers!" and proceeds to upgrade its estimation of how likely those capitalist are to get a return on their investment.

And the people’s revolutionary government highlights this as an achievement in its première propaganda organ!!!

Are these people mad?! Wasn’t the old oligarchy’s willingness to prioritize the needs of international capital over those of everyday Venezuelans at the very center of their critique of the ancien regime? Its conceptual nub?

I sort of sit here and try to picture Lenin bragging in Pravda about how the Soviet Union is now going to be able to pay off the Rothschilds, or Fidel making sure Prensa Latina highlights a glowing press release about the revolución from the United Fruit Company.

Seriously, the mind boggles.

[Hat Tip: Bruni.]