Molano: Washed up, proven wrong by plain facts, clinging to dogma
.........but his analysis is of a man totally out of touch with the region. Take this article on Ecuador published this week in Latin Business Chronicle, for example:
In Molano's view, there are only two types of democracy in South America. You get the choice between
".....known for its political instability, Ecuador went through six presidents in a period of 10 years."
....and...
"...the PhD in economics (i.e. Correa) became the most powerful caudillo to govern the Andean nation since León Febres Cordero. Like his Bolivarian brothers, Correa is only interested in one thing—remaining in office for ever."
What a beautiful, binary world he lives in. Political instability is bad, but political stability is quasi-dictatorship. Fact is that the new Ecuador constitution (a document that Molano obviously hasn't bothered to read before revealing his ignorance in print) allows for a single re-election of its President. Just like....errrr...the USA.
As for his chosen subject this week, Ecuador is.....
"A third-rate producer of oil and bananas"
....which is strange, because according to the facts Ecuador is the world's biggest exporter of bananas and also a member of OPEC, the world's biggest influence on oil production. Or maybe I read him wrong and he just thinks the country is third rate? Molano even manages to pack in three factual errors in the first paragraph of his pathetic analysis when saying:
Ecuador is heading towards debt default, an end to dollarization, soaring inflation and economic decline.
In Molano's view, there are only two types of democracy in South America. You get the choice between
".....known for its political instability, Ecuador went through six presidents in a period of 10 years."
....and...
"...the PhD in economics (i.e. Correa) became the most powerful caudillo to govern the Andean nation since León Febres Cordero. Like his Bolivarian brothers, Correa is only interested in one thing—remaining in office for ever."
What a beautiful, binary world he lives in. Political instability is bad, but political stability is quasi-dictatorship. Fact is that the new Ecuador constitution (a document that Molano obviously hasn't bothered to read before revealing his ignorance in print) allows for a single re-election of its President. Just like....errrr...the USA.
As for his chosen subject this week, Ecuador is.....
"A third-rate producer of oil and bananas"
....which is strange, because according to the facts Ecuador is the world's biggest exporter of bananas and also a member of OPEC, the world's biggest influence on oil production. Or maybe I read him wrong and he just thinks the country is third rate? Molano even manages to pack in three factual errors in the first paragraph of his pathetic analysis when saying:
Ecuador is heading towards debt default, an end to dollarization, soaring inflation and economic decline.
- Debt default? Not according to Ecuador's foreign minister yesterday. Here's Bloomie with the story that shows just how wrong Molano is.
- An end to dollarization? Not according to Ecuador's FinMin last week. Viteri specifically said there was no end in sight for dollarization
- Economic decline? Not according to Ecuador Central Bank and IMF forecasts. Check 'em yourself. I have.
Three blatant lies in the space of 15 words and the thing about inflation is subjective and dubious, too.
It's tough to believe that anyone takes this fool Molano seriously any more. The world's worst financial analysts are the ones that cloud their economic forecasts with their own personal political dogma and history has left their corpses scattered along its path. Go join the club, Molano. Your time is up. Jeeesh, what a dick...........
It's tough to believe that anyone takes this fool Molano seriously any more. The world's worst financial analysts are the ones that cloud their economic forecasts with their own personal political dogma and history has left their corpses scattered along its path. Go join the club, Molano. Your time is up. Jeeesh, what a dick...........