Archive for March, 2013

Happy Easter!

Sunday, March 31st, 2013

Happy Easter 2013

Saturday night tango: Hugo & Angeles

Saturday, March 30th, 2013

Hugo Mastrolorenzo & Angeles Chanaha dancing in Princeton,

Peru’s definitely not Cyprus

Saturday, March 30th, 2013

Last Tuesday in Rick Moran’s podcast I mentioned that the flight of capital from the EU might make emerging markets very attractive.

Well, look at Peru:
Peru intensifies currency fight (emphasis added)

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For the eighth time in 10 months, Peru’s central bank has raised deposit requirements on dollar-denominated accounts to stem the flow of hot money into its fast-growing economy and dampen currency appreciation.
With the sol approaching a 16-year high, Peru’s central bank said that as of April 1, the reserve ratio will rise 0.25 percentage points. The bank, which has ruled out Brazilian-style capital controls, has also been aggressively buying dollars in the spot market to slow the trajectory of the sol.

So far, its strategy has worked, with the sol weakening 1.33 per cent against the dollar this year, after appreciating 5.7 per cent in 2012.

The Peruvian bank’s struggle to rein in its currency is shared by fast-growing neighbour Colombia, which last week said it was willing to double its spending on dollars, to $10bn, this year to take some of the steam out of the peso.

Both countries are enjoying the fruits of years of prudent economic management – but rapid economic growth and low inflation have come hand-in-hand with the kind of current appreciation that makes exporters squeal.

Hmmm. . . Prudent economic management.

Are you listening, Paul Krugman?


BBC’s Book of the Week: Comandante

Friday, March 29th, 2013

Abridged and available right now. Via Caracas Chronicle, who says

It’s a great chance to hear Rory’s book read by a professional, but hurry: they don’t leave these online forever.

You can also purchase the book through the Amazon link above.

Meanwhile, over in the country with the strictest gun control laws in our hemisphere,

Friday, March 29th, 2013

Thousands of armed vigilantes takeover Mexican town, arrest police and shoot at tourists after ‘commander’ is killed and dumped in the street. Tierra Colorada is in the southern state of Guerrero on the way from Mexico City to Acapulco

‘Community police’ arrest former director of security in Tierra Colorado [sic]
They allege he took part in killing of their leader, 28, for criminal cartel
State prosecutors agree to investigate official’s links to organised crime
Vigilantes have been stopping traffic at checkpoints and searching homes
Tourist injured after vigilantes opened fire because he failed to stop his car
Takeover comes amid growing ‘self defence’ movement against cartels

Obama heading to Mexico and Costa Rica

Thursday, March 28th, 2013

On May 2-4, “to take up trade, economic growth and immigration”

The trip comes as Mr. Obama is pressing Congress to pass a broad immigration overhaul that would provide a path to citizenship for the estimated 11 million people living in the U.S. illegally— many of them Mexicans.

An estimated 60% of all illegal aliens are Mexican.

“We’re fully cognizant of your current political calendar and agenda vis a vis immigration reform,” a Mexican official said. Mr. Peña Nieto “has expressed in the past his willingness to work in whatever ways we can to move help move these processes forward.”

And gun control, too, even when Eric Holder is still mum on Fast & Furious.

Over at the border,

REPORT: OBAMA ADMIN LEAVING BORDER UNATTENDED, ‘NAKED’ FOR HOURS AT A TIME

Uncommon Knowledge: Ted Cruz

Thursday, March 28th, 2013

h/t Babalu & WSJ

Venezuela: Maduro vs Lechuga

Thursday, March 28th, 2013

If you disseminate currency exchange information on the internet, Maduro will have you jailed and indicted:
Venezuela interim president Maduro takes on currency exchange website

Video in Spanish,

Venezuela’s interim president, Nicolás Maduro, came out Tuesday fighting the acute depreciation of the bolivar against the U.S. dollar by ordering the indictment and jailing of the creators of lechuga.com, a popular website that thousands of Venezuelans consult everyday to check currency exchange quotes in the parallel market.

Maduro issued the order as part of his government’s effort to contain the impact on the economy of the two back-to-back devaluations of the Venezuelan currency. The first one — of 32 percent — was announced on Feb. 7, when the exchange for special sectors went from 4.30 bolivars per dollar to 6.30 bolivars. The second one took place five weeks later, with the decision of auctioning foreign currency for another group of sectors.

Of course, Maduro blames the “capitalist oligarchy” for the state of the economy, rather than the disastrous Chavista mismanagement. Last month the annual inflation rate rose to 22.8%, the highest in our hemisphere.

Lechuga.com is gone, along with its Twitter and Facebook accounts. As of the writing of this post, no one had been arrested.

DollarToday, however, is still up.

Related:
The Puzzle of SICAD: First Auction Result Above Bs. 10 Per US$

Venezuela Stays Mum on Rate at Auction

Le maduro la lechuga…

UPDATE:
Linked by Hot Air. Thank you!


New hairdo, new contest! UPDATED

Wednesday, March 27th, 2013

Watch the video and you can enter for your chance to win!

First the hairdo: How to style blunt bangs, easy enough I can do it,

And the contest,

Hair Sweepstakes Offical Rules week 1

Get gorgeous hair & WATCH TO WIN!

UPDATE,
And now for the sexy loose bun. . . with more chances to win!

The fighting cholitas hit the mainstream

Wednesday, March 27th, 2013

Cholitas are Bolivian women wrestlers, and they kick butt,

Bolivia’s Wrestlers
In the wrestling rings of Bolivia, skirts fly as cholitas fight back!

And now the Fighting Cholita is a collectible

Madame Alexander dolls new 8-inch fully articulated Fighting Cholita-Bolivia, with a Latin skin tone, brown eyes and long brunette braids with bangs, may be a female wrestler but she¹s a pretty one. She¹s dressed in a red and white micro check shirt, calf-length turquoise dirndl, pale green bolero style jacket, multi-color striped shawl and her black molded bowler hat. Metallic gold sandals and a guitar shaped like an armadillo completes the overall look for Fighting Cholita-Bolivia.

Don’t know about a “Latin skin tone,” since the wrestlers are women of Aymara, not Latin, descent, but you can buy two and hold your own wrestling match without anyone getting hurt.