Professor Elam

As Hugo Chavez continues to blame his problems on foreign investors, his expropriation of their property continues. Jim Rogers predicted it would end this way, when others were worried about the rise of socialist governments in South America he remarked that none of those programs would work anyway, sure enough, here we are.

I suspect oil will peak this summer in the $60 range. Then oil and stocks sink again, that will be the real test of whether the Chavez types can stay in office.