CHAVEZ RUNNING VENEZUELA INTO THE GROUND

Hugo Chavez and his policies are yet more proof that Socialism doesn't work ... ever:

Here’s what Chavez’ Socialist revolution has to show for itself. Barely a dent taken out of poverty, GREATER dependency on foreign banks and governments, MASSIVE economic contraction. Adjusting for their rate of inflation, the economy is half the size it was 8 years ago, effectively making even those he’s “helping” poorer than they were a decade ago.

- In 1998 GDP was $185 billion (£93 billion); in 2006 it is $162 billion

- Inflation: 38 per cent (1998); 16 per cent (2006)

- Proportion in poverty: 44 per cent (1998); 34 per cent (2006)

- External debt: $27 billion (1998); $34 billion (2006)