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Hugo Chavez is hobbled, but still standing
25 percent inflation, jump in crime rate hurt ratings, but opposition weaker
The Associated Press
updated 1:49 p.m. ET, Sun., Jan. 31, 2010
CARACAS, Venezuela - A new slogan appearing on the T-shirts and banners of anti-government protesters in Venezuela sums up a growing sentiment about President Hugo Chavez after 11 years in power: "You're struck out."
The list of strikes against Chavez keeps growing: Latin America's worst inflation, increased blackouts, runaway violent crime and a scandal involving bankers close to his government.
The socialist-inspired governing model that Chavez calls his Bolivarian Revolution — after 18th-century independence leader Simon Bolivar — is weakened and hobbling. And though Chavez retains close ties with a bloc of leftist governments from Bolivia to Nicaragua, many Latin Americans don't see Venezuela's oil-funded populism as viable.
Among Venezuelans, Chavez's popularity slipped below 50 percent in polls late last year. Last week, thousands of demonstrators denounced the government for yanking the anti-Chavez channel RCTV from cable television, and clashes with riot police killed two youths. Also last week, Chavez's vice president and defense minister, Ramon Carrizalez, resigned, citing personal reasons.
State-imposed economic controls, meanwhile, have failed to contain 25 percent inflation, rapidly eroding the earnings of the poor who have been Chavez's core of political support. Chavez's devaluation of the currency this month — aimed at allowing the government finances to boost public spending — is expected to push prices even higher.
To counter that, Chavez deployed inspectors and soldiers to check, threatening to expropriate any businesses engaging in price-gouging. Some have been temporarily shut down. The government last week seized a French-controlled retail chain, Exito.
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