November 28, 2006

HISTORY ALWAYS CATCHES UP:

The revolutionary dream in Latin America is fading away (Maria Zaldivar, HACER)

The revolutionary dreams that encouraged indigenous-Bolivarian populisms in South America are decolouring at a high speed. Evo Morales’ authority in Bolivia is deteriorating at a vertiginous rate, and he is not able to avoid the secessionist attempts that are under way. Fidel Castro’s imminent death further obstructs any support for a regime characterized by systematic illegitimacy and the despise and systematic violation of basic human rights, and this is how, thanks to God, Castro’s utopia is dying with its founder.

The hegemonic dream of the Argentinean president is not doing any better. Néstor Kirchner is being hacked by the same reality that helped him appear to be leading a successful administration during the first years of government. At that time the general conditions of global economy, China’s opening and its wide demand of commodities, the sustained growth of the whole region and a gross devaluation of Argentine currency were the framework in which the current administration started. However, things have changed. The valuation of commodities is down from the sidereal values of 2004 and 2005; oil and gas reserves are exhausted due to a disinvestment that is starting to hit home; regional economy is drifting apart from the profitability margins of the last two years, and inflation has started to devour the benefits of the currency devaluation. Besides, Argentineans keep more than 100,000 million dollars abroad because the country does not offer the necessary guarantees for the capital to stay. President Kirchner himself is among those holding millionaire deposits outside national frontiers.

Posted by Orrin Judd at November 28, 2006 8:01 AM
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