Saturday, June 04, 2011

Peru at the Crossroads

While many people focus on being out of work and seeing the value of their house devolve to junk bond status, I want to take a look at another country. This weekend the country of Peru is having Presidential elections this Sunday. Who is elected will have a profound impact upon Peru, its people, and its economy.

On one side is Keiko Fujimori, age 36, who is the favorite of the business community. On the other side is Ollanta Humala, a former army commander who tried to lead a coup against Alberto Fujimori, a former president of Peru now in jail and Keiko's father.

If you are still inclined to vote for a military strongman who tried to subvert democracy, then you will probably vote for Stalin without batting an eye. For those who are still sitting on the fence about Humala, ponder this little factoid - he has vowed to prudently manage the economy. Manage the economy? Keiko's campaign assertions that Ollanta will roll back economic reforms seem well founded. We have seen how well the USSR managed its economy, into economic and environmental ruin. We are seeing the same destruction occuring over in Venezuela under Hugo Chavez, who is friends with Ollanta Humala.

One supposedly brillant conservative, because of his personal animus with Alberto Fujimori has come out in support of Ollanta Humala. Nobel laureate Mario Vargas Llosa, who's Nobel is in literature, supports Humala because he sees Fujiko as a puppet for her father's aides. Plus Alberto Fujimori beat Varga Llosa in 1990 for the Presidency of Peru - that probably did wonders to his Nobel ego. This is an amazing flip-flop since Llosa called Humala a Chavez disciple a mere five years ago.

News articles.
Peru Faces Divisive Election.
Leftist Peru Candidate Dogged by Doubts.


Legion said...

The whole southern continent is lost as far as I am concerned. Commie revolutionaries have taken over. We are doomed.

Anna said...

Colombia is still holding on, in spite of Obama and the Democrats.

Meanwhile in Peru, Chavista Humala might have won with 88% of the vote in. Keiko Fujimori has not conceded yet. Meanwhile investors are getting nervous and selling off Peru related holdings.