Bloomberg posted:May 7 (Bloomberg) -- Debt traders are pushing up the bonds of state-owned Petroleos de Venezuela SA as they envision a nation without President Hugo Chavez that may free the oil producer from a tax rate as high as 95 percent.
The company's $26.5 billion of debentures gained 2.1 percent last week through May 3, the most among the 50 biggest emerging-markets issuers of dollar-denominated debt, building on April returns of 2 percent, Bank of America Merrill Lynch index data show. The extra yield investors demand to buy debt from the owner of U.S. refiner and marketer Citgo Petroleum Corp. compared with the average for speculative-grade U.S. energy companies has dropped by more than half this year.
"Outside investors think anyone is better than Chavez at this point from an external market position," said Raymond Zucaro, a money manager in Newport Beach, California, at SW Asset Management LLC, which oversees about $230 million of emerging-market corporate debt. "The evil unknown is better than the evil known from the investors' perspective."
The oil producer with crude reserves larger than BP Plc, Exxon Mobil Corp. or Petroleo Brasileiro is drawing interest from debt investors as Chavez, 57, receives radiation in Cuba for an undisclosed form of cancer. Chavez, the nation's leader since 1999, has weighed down the company known as PDVSA with policies making it the "primary source" of government income and social spending, according to Moody's Investors Service.
If Chavez dies or is removed as Venezuela's leader, "it's probably a positive credit event," said Sabur Moini, a money manager who helps oversee about $2 billion of high-yield debt at Los Angeles-based Payden & Rygel. "PDVSA is sort of a quasi- Venezuelan sovereign, so that's a big factor of the price appreciation."
capitalism 
getfiscal posted:remember when chavez exhumed bolivar and communed with his bones and shit. that dude is a mental case.
same except it was all the republican presidential candidates and ronald reagans air force one jet
getfiscal posted:under chavez, pdvsa has tripled the number of employees with no increase in oil output
glad to see he's rejecting the capitalist logic of absolute surplus value
jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
babyfinland posted:jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
seriously though given the past 5-6 years its pretty difficult to put morales in the same bracket as chavez; venezuela is just so far head of bolivia...
jools posted:babyfinland posted:jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
seriously though given the past 5-6 years its pretty difficult to put morales in the same bracket as chavez; venezuela is just so far head of bolivia...
communism is just around the corner in the barrio
babyfinland posted:jools posted:babyfinland posted:jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
seriously though given the past 5-6 years its pretty difficult to put morales in the same bracket as chavez; venezuela is just so far head of bolivia...
communism is just around the corner in the barrio
nah its more like vz is getting as coup-proof as cuba right now. in any case, that's not what you should worry about - it's the backwards elements in the PSUV....
jools posted:babyfinland posted:jools posted:babyfinland posted:jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
seriously though given the past 5-6 years its pretty difficult to put morales in the same bracket as chavez; venezuela is just so far head of bolivia...
communism is just around the corner in the barrio
nah its more like vz is getting as coup-proof as cuba right now. in any case, that's not what you should worry about - it's the backwards elements in the PSUV....
SUVs tend to roll when you turn left or right too hard
babyfinland posted:jools posted:babyfinland posted:jools posted:babyfinland posted:jools posted:You know nothing of Chavez.
thats not significantly different of any other subject i speak about with authority
seriously though given the past 5-6 years its pretty difficult to put morales in the same bracket as chavez; venezuela is just so far head of bolivia...
communism is just around the corner in the barrio
nah its more like vz is getting as coup-proof as cuba right now. in any case, that's not what you should worry about - it's the backwards elements in the PSUV....
SUVs tend to roll when you turn left or right too hard
agreed, thats why you subsume the PSUV into a patriotic popular front that includes the communal councils, afro-venezuelan groups, womens groups and so on
discipline posted:get miss march in here jools
ya good plan
Published on Monday, April 30, 2007
BARQUISIMETO, Venezuela (AFP): Cuban leader Fidel Castro has
written that "market socialism" will make China the 21st century's
superpower, Venezuelan President Hugo Chavez said Sunday.
Castro "wrote me about Mao Zedong and his original vision and
wound up saying how China, with its strategy of market socialism,
has become a superpower and will become the superpower of the
21st century," Chavez said.
"The socialism of the 21st century must adapt to conditions of
the 21st century," Chavez said of Castro's nine-page letter to
his Venezuelan friend and ally.
discipline posted:yah get miss march in here for Q&A time I wanna ask her about Argentina and stuff too
this! thisss!!!!
seriously argentina's experiences over the last decade sound like the greatest story never told and i'm dying to learn more about it
having doctors in every neighbourhood: good idea.
more neighbourhood control over community: good idea.
socialist planning of whole economy any day soon: terrible idea.
getfiscal posted:remember when chavez exhumed bolivar and communed with his bones and shit. that dude is a mental case.
how DARE he not think the same way about dead people the way i, a fat white candian do! wow! racist!
EmanuelaOrlandi posted:getfiscal posted:remember when chavez exhumed bolivar and communed with his bones and shit. that dude is a mental case.
how DARE he not think the same way about dead people the way i, a fat white candian do! wow! racist!
well i guess he'll find out he's wrong soon enough
heres a video of him from when he was fit + talked all educated like if you prefer that
Francisco_Danconia posted:caloric intake in venezuela has doubled in the last decade
yeah but how do the statistics look if you take hugo chavez's consumption out of the equation?
i mean besides living in a gated community to avoid the crime-ridden nightmare that is modern caracas
getfiscal posted:what do you plan on doing in venezuela
i mean besides living in a gated community to avoid the crime-ridden nightmare that is modern caracas
studying biology and no
perhaps you are thinking of these creative young people out to change the world:
i want to make an effortpost on this video for people who don't speak spanish
"I wish I could fold Caracas up like a Polly Pocket, shake out all the people I don't like - hope they fall! - and stick it in my handbag, take it wherever, take it out whenever. Doesn't hurt to dream"
"Caracas is this city...where... if I die, they're gonna, like, bury me here."
"I want to be able to go out at 3AM and not get robbed. Well, I don't know if it's stupid of me, but I go out at 3AM a lot, and nothing's happened, but,"
"Venezuelans all have some kind of mental disorder... well, I'm Venezuelan, but I can't stand it..."
"Caracas is great. Except for the people."
it's gone viral - you can actually see right-wingers apologizing to chavists on the internet for these hipster fucks
Edited by Francisco_Danconia ()
Goethestein posted:venezuela more like vuvuzela *makes the awesome face*
they both blow
Francisco_Danconia posted:getfiscal posted:
what do you plan on doing in venezuela
i mean besides living in a gated community to avoid the crime-ridden nightmare that is modern caracas
studying biology and no
perhaps you are thinking of these creative young people out to change the world:
i want to make an effortpost on this video for people who don't speak spanish
"I wish I could fold Caracas up like a Polly Pocket, shake out all the people I don't like - hope they fall! - and stick it in my handbag, take it wherever, take it out whenever. Doesn't hurt to dream"
"Caracas is this city...where... if I die, they're gonna, like, bury me here."
"I want to be able to go out at 3AM and not get robbed. Well, I don't know if it's stupid of me, but I go out at 3AM a lot, and nothing's happened, but,"
"Venezuelans all have some kind of mental disorder... well, I'm Venezuelan, but I can't stand it..."
"Caracas is great. Except for the people."
it's gone viral - you can actually see right-wingers apologizing to chavists on the internet for these hipster fucks
sounds like what lfers say about americans
Francisco_Danconia posted:getfiscal posted:what do you plan on doing in venezuela
i mean besides living in a gated community to avoid the crime-ridden nightmare that is modern caracasstudying biology and no
perhaps you are thinking of these creative young people out to change the world:
i want to make an effortpost on this video for people who don't speak spanish
"I wish I could fold Caracas up like a Polly Pocket, shake out all the people I don't like - hope they fall! - and stick it in my handbag, take it wherever, take it out whenever. Doesn't hurt to dream"
"Caracas is this city...where... if I die, they're gonna, like, bury me here."
"I want to be able to go out at 3AM and not get robbed. Well, I don't know if it's stupid of me, but I go out at 3AM a lot, and nothing's happened, but,"
"Venezuelans all have some kind of mental disorder... well, I'm Venezuelan, but I can't stand it..."
"Caracas is great. Except for the people."
it's gone viral - you can actually see right-wingers apologizing to chavists on the internet for these hipster fucks
lmao at that video
Francisco_Danconia posted:hi it's me, miss march. hugo chavez is super cool and it's sad that he has cancer. he thinks he's dying so things are pretty serious! cristina fernandez is super cool and she has cancer too but she'll probably be okay. ask me things about these super cool people and maybe i'll make an effortpost or something iuno. there's a chance i'll be in venezuela for a year soon so you can ask me about that too
if hugo does die who will succeed him / are they cool or not / is the chavez coalition stable enough to withstand his death without falling onto the road more traveled*
*the capitalist road
Tsargon posted:Francisco_Danconia posted:hi it's me, miss march. hugo chavez is super cool and it's sad that he has cancer. he thinks he's dying so things are pretty serious! cristina fernandez is super cool and she has cancer too but she'll probably be okay. ask me things about these super cool people and maybe i'll make an effortpost or something iuno. there's a chance i'll be in venezuela for a year soon so you can ask me about that too
if hugo does die who will succeed him / are they cool or not / is the chavez coalition stable enough to withstand his death without falling onto the road more traveled*
*the capitalist road
unless diosdado cabello/godgiven hair is actually a coupist - which is a genuine possibility - the pretty natural course of events shouuuuld be that nicolas maduro becomes president in october, despite massive financing for the opposition as usual. nicolas is prepared, i think - i've met him - former bus driver, very educated, very competent. cabello could also become president, but it's difficult to say what's going on with him.
they will probably try to pull a gaddafi on nicolas maduro, and it will probably not work. hugo is also a colonel, so mutiny in that department is unlikely, and there are lots and lots of well-trained well-armed peasant militias as well. the psuv project is not comparable to previous democratic failures in that respect alone.
Edited by Francisco_Danconia ()