Hugo Chávez' Revolución

May his economy prosper as all other communist nations.

From the AP:

President Hugo Chávez announced plans Monday to nationalize Venezuela's electrical and telecommunications companies, pledging to create a socialist state in a bold move with echoes of Fidel Castro's Cuban revolution.

"We're moving toward a socialist republic of Venezuela, and that requires a deep reform of our national constitution," Mr. Chávez said in a televised address after swearing in his new Cabinet. "We are in an existential moment of Venezuelan life. We're heading toward socialism, and nothing and no one can prevent it."

Mr. Chávez, who will be sworn in Wednesday to a third term that runs through 2013, also said he wanted a constitutional amendment to eliminate the autonomy of the Central Bank and would soon ask the National Assembly, solidly controlled by his allies, to give him greater powers to legislate by presidential decree.