Lessons Unlearned

So the guy Ecuador just reelected as President, Rafael Correa, doesn’t seem like the sharpest penny in barn. Here’s where things stand now:

While the 2008 default as well as new laws nationalizing the country’s oil reserves provided short-term economic gains for the president since he took office in 2007, the 49-year-old Correa, an ally of Venezuela’s Hugo Chavez, is now paying the cost with stagnant crude output and declines in private investment needed to boost growth.

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Correa’s program moving forward? More of the same.

Meh. I shouldn’t point fingers. It’s not like we did any different or any better last November.

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