May 8, 2009  With all the subtlety of blunt force trauma, Rafael Correa has ruinously plunged what prospects Ecuador had and held to a definable failed state.

Correa has insisted that all Ecuadoreans surrender not only their honor, their lives and their livelihood but also what prosperity they may have had in the future.

Here is a political cartoon detailing the fearfulness of socialist grab and spend statism:
                           
Thursday, May 07, 2009, from Michael Ramirez at Inverstor's Business Daily:
 

 
 
 
 
This past week, Goldman Sachs issued this public review of the Ecuadorean scenario:
 
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ECUADOR

Trade Balance Books Seventh Monthly Consecutive Trade Deficit

The trade balance posted a US$168 million deficit in March (seventh consecutive monthly trade deficit); significantly worse than the US$207 million surplus booked during March 2008. Export revenue declined a large 33.8% yoy and imports dropped 8.9% yoy. Oil export revenue declined 55.6% yoy in March.

During 1Q2009 the trade balance posted a large US$820 million deficit; down from a +US$1.1 billion surplus during the same period in 2008.

During 1Q2009, export revenue declined a large 43.8% yoy while imports declined a minor 3.3% yoy. Oil export revenue declined 65.9% yoy (with unit prices down 61.7% yoy and exported volume also down 10.8% yoy) and non-oil exports contracted 4.5% yoy (with volumes down 2.6% yoy). Non-traditional exports declined a large 11.1% yoy in volume (-12.8% yoy in dollar terms).

The non-oil trade balance deficit worsened 8.7% from a year earlier, to a large US$1.37 billion deficit during 1Q2009 from a US$1.26 billion deficit during 1Q2008. The oil trade balance surplus eroded a very large 76.5% from a year earlier, to just US$552 million during 1Q2009 from US$2.35 billion during 1Q2008.

The trade balance is likely to continue to worsen due to lower oil prices and likely lower oil production/exports. The government has recently adopted a number of protectionist measures to limit imports and prevent the trade balance from widening excessively.

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Why, do you suppose, is it that the propaganda continues to pretend that Ecuador is doing great? Why do you suppose that no one inquires as to the root cause of Ecuador's loss of almost 66% of oil export revenues even though as an OPEC nation Ecuador takes the standard OPEC price per barrel band and should be posting no non-speculative losses as such?  Here is a parody on what controlled propaganda by heads of state looks like:

                              

Some of the headlines of Soros-aligned propagandists telling us that Correa has triumphed, when in fact he is an abysmal failure. Why anyone accepts the George Soros do drugs and do lies cartels is beyond us:

Correa Triumphs in Ecuador, and Thereby Becomes One of Latin America’s Most Successful Political Figures

Ecuador re-elects Socialist President Correa in historic win

The LOS ANGELES TIMES is not immune, it seems from taking their non facts from the Soros teams from such as COHA's Larry Birns or Mark Weisbrot in this most dishonest analysis: A more mature Ecuador

And here is what fools look like who continue to Teleprompt propaganda:
 
 
                       
 
The above mentioned fantasy headlines - alternative reality analyses by Soros-enthused speculative /risk profiteering teams who promote Hugo Chavez and Rafael Correa's alternative democracies which are in reality dictatorships, is helpfully denounced for the ridiculous screed that Larry Birns and/or Mark Weisbrot of the anti Uribe / anti freedom lunacy sells,  here:
 
Ecuador grabs for Chevron's wallet

"Corporate America is an easy punching bag in tough economic times, but it often doesn't deserve the demonization it receives. That's the case with Chevron, which was attacked by "60 Minutes" on Sunday for an ongoing lawsuit over old oil fields in Ecuador. The CBS show wrongly took the side of the leftist, tinpot government of Ecuador against the 206,000 stockholders (and, indirectly, millions of American pensioners) who own shares of the American oil company...."  Read the full article here.

This article correctly denounces the excessively corrupt and pathological liar Rafael Correa and his unlawful team as an extortion racket. Racketeers to extort... .are not a welcome event. But the USA of Obama calls Rafael Correa.... a good friend. Here is what these manipulative friends look like:


 

-Pedro Camargo for ECrisis