Venezuela’s Chavez Nationalizes Steel Company

The hemisphere’s idiot, Venezuelan President Hugo Chavez,  just nationalized another steel company. One that produces 40 percent of the country’s steel products used in construction.

“You will see at what price we buy them, since they belong to the people, and at what price we sell the rods,” he said.

Chavez has ordered several nationalizations in recent weeks, including a big fertilizer plant, a motor lubricants maker and a major local farm supplies company. This, after taking control of the TV broadcast media in advance of, and to the benefit of his party, Venezuela’s legislative elections.

Link: Venezuela’s Chavez nationalizes local steel company | Reuters

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