Daily Archives: February 16, 2009

Gideon Rachman

On both sides of the Atlantic, senior officials are issuing dire warnings about global political turmoil. In the US, Admiral Dennis Blair, the director of national intelligence, says instability produced by the economic crisis is now the biggest short-term threat to US national security. In Britain, Ed Balls, a cabinet minister, argues that the financial crisis is “more serious” than that of the 1930s, adding cheerfully: “And we all remember how the politics of that era were shaped by the economy.” Read more

Gideon Rachman

The FT today reports that ecstatic crowds in Venezuela greeted Hugo Chavez’s referendum victory with chants of “Hey ho, Chavez won’t go.” I wonder what that is in the original Spanish?

Perhaps more important, I wonder whether it’s true? Can Chavez continue to function and rule if the oil price is stuck well below $50 a barrel. Read more