“Venezuela, one of Latin America’s most populist countries has a very high inflation rate, control on market prices and shortages. This seems to be a constant practice for countries with this type of regime, and even more so in this region where governments define this practice as “redistribution of wealth”. It seems like the only thing that they distribute is inflation,” says Paola Pecora.

Brazil is a lot like a person who gets a new job, pays off some of his debts, and has his credit score upgraded.

A quarter-point interest rate cut by the United States Federal Reserve helped propel the Canadian markets higher during Wednesday trading.

“Being rich is bad,” declares Venezuela’s president. But someone’s forgotten to tell his people. Because this place isn’t some dour socialist paradise… you can see the money everywhere!

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The Kingdom of Saudi Arabia is the world’s leading petroleum exporter. Officially, it has reserves of about 260 billion barrels of crude oil – approximately 24% of the world’s total proven petroleum reserves.

Foreign countries drop their U.S. dollar reserves. We depend on foreign investment in our currency to bolster its value or, at least, to slow down its fall. When that thinly held balance changes, our dollar loses its spending power.

Venezuelan President Hugo Chavez said a few months ago that if the United States invades Iran, we could expect to see oil at $200 a barrel. With oil already approaching the $120 mark, we may get there even without invading Iran.

After years of denials $100-a-barrel oil has been recognized as a reality by Uncle Sam, reports The Wall Street Journal.

The WSJ reports that the “normally bearish” US Energy Information Administration forecasts that crude oil prices will remain above $100 this year.

Soaring demand in China, India, and Russia will continue to keep prices high. Lack of spare capacity worldwide will also continue to push up prices, according to the report.

In short, apparently these countries need the price of oil to stay high to pay for their welfare expenses…which means that they will necessarily be raising oil prices again pretty soon.

U.S. jobs suffer, unemployment rises, record number of Americans say U.S. on “the wrong track”. How the subprime housing crisis could keep your kid from going to college. Congress prepares multibillion-dollar housing bailout…who will benefit and who won’t. Chavez at it again…which industry has become the latest Venezuelan nationalization.