tag:blogger.com,1999:blog-9068633250101025716.post5154199824246695085..comments2023-09-29T11:23:38.668+02:00Comments on For what we are... they will be: SorceronomicsMajuhttp://www.blogger.com/profile/12369840391933337204noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-9068633250101025716.post-85195418515976934472011-01-03T17:45:18.516+01:002011-01-03T17:45:18.516+01:00Urte Berri on!
What I have noticed is how incredib...Urte Berri on!<br />What I have noticed is how incredibly bad all kinds of people predict the development of the commodity markets.<br /><br />Now: how was it with Venezuela?<br />http://www.bloomberg.com/news/2010-10-06/imf-wrong-to-predict-continuing-venezuela-recession-finance-minister-says.html<br /><br />http://www.abbanetwork.com/finance/the-imf-predicts-a-recovery-in-the-andean-economy-in-2010/<br /><br />So: IMF was wrong with capitalist Chile, Argentina and so on. But it was not that bad with feudal Venezuela. In fact, it was rather "optimistic".<br />I checked some numbers for next year. Oil prices, the A and O in Venezuela, were 26% higher this year. Taking a look at previous years, one would expect an economic growth of more than 7% but no, Venezuela will be lucky to have 1.5% growth.<br />Only Venezuela does pretty bad for what oil gives for free.Keplerhttps://www.blogger.com/profile/11125538872924743270noreply@blogger.com