Venezuela's disastrous course

For a fleeting few years the South American nation of Venezuela and its histrionic late President Hugo Chavez made waves on the global stage. While he upended the country's economy and exploited class conflict at home, he blamed the world's woes on the U.S., insulted the American president at the United Nations, and exhorted other leftists in the region to challenge the prevailing economic model and follow his path to "21st century socialism." Since Chavez died, the world mostly stopped paying attention. That, however, may soon change. The stage is now set for what could become a major confrontation. Under pressure from a jailed opposition leader on hunger strike, the government finally set an election date. On December 6, Venezuelans will go to the polls to elect a new National Assembly. The stakes are enormous, and the possibility of serious turmoil is very real. More…