Reply #15: Who are they?

[Braulio]

I wonder, who are THEY in your mind?

Most people prize the ability to own property, to live free of crime, where there's no corruption, where one can speak openly and oppose the government without reprisals. Where one can get a decent paying job, and get decent medical care, where justice is fair, and swift.

Neither Cuba nor Venezuela have governments which focus on these very common aspirations, to one extent or the other. I happen to have very hard information on these countries, because I track their economic performance, and this is in turn is driven by political stability and a vibrant middle class. Neither Cuba nor Venezuela have governments which understand the fundamentals to create a successful economy and society - as defined by the common man. They're somewhat different in their characteristics, wealth, and design, but they do share in common one thing: they are headed in the wrong direction.

If you have doubts, just check their bond ratings, or pick up The Economist and look at the consensus projections for GDP growth (Venezuela is listed every week, Cuba is so insignificant, it doesn't even merit listing). You'll see Venezuela is projected to have the worst economic performance in the world during the combined 2009-10 cycle, after Zimbabwe and a couple of other basket cases.