IBOV 171,259 ▲ 0.52% IPSA 10,770 ▼ 1.21% IPC MEX 66,848 ▼ 0.41% MERVAL 3,248,428 ▼ 0.89% COLCAP 2,347.07 ▼ 1.93% BVL PERÚ 57,045.35 ▼ 0.46% USD/BRL5.18▲ 0.78% USD/MXN17.55▲ 0.99% USD/CLP913.39▲ 0.76% USD/COP3,419▼ 0.76% USD/PEN3.39▲ 0.07% USD/ARS1,471▲ 0.62% USD/UYU39.91▲ 1.23% USD/PYG6,064▲ 0.60% USD/BOB6.86▲ 1.93% USD/DOP58.11▲ 0.62% USD/CRC452.10▲ 2.42% USD/GTQ7.62▲ 2.31% USD/HNL26.68▲ 1.40% USD/NIO36.62▲ 0.72% USD/VES619.98▲ 5.68% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.69▲ 0.16% USD/TTD6.69▲ 0.58% EUR/BRL5.90▼ 0.02% BRENT 76.75 ▼ 1.48% WTI 72.86 ▼ 2.62% IRON ORE 161.91 — — COPPER 6.13 ▼ 3.63% GOLD 4,098 ▼ 2.02% SILVER 61.56 ▼ 6.05% SOY 1,144 ▲ 2.55% CORN 437.75 ▲ 6.38% WHEAT 597.00 ▼ 0.08% COFFEE 275.75 ▼ 0.45% SUGAR 13.93 ▲ 4.34% ORANGE JUICE 151.05 ▼ 2.30% COTTON 78.50 ▲ 4.37% COCOA 4,661 ▲ 3.01% BEEF 246.05 ▼ 3.82% CATTLE 368.28 ▼ 0.58% LITHIUM 78.43 ▼ 5.01% PETR4 39.33 ▲ 0.41% VALE3 79.38 ▼ 1.89% ITUB4 41.05 ▲ 0.27% BBDC4 17.84 ▲ 0.91% ABEV3 16.37 ▲ 1.52% BBAS3 19.86 ▲ 1.43% B3SA3 14.72 ▲ 0.14% WEGE3 45.71 ▲ 1.02% PRIO3 56.10 ▼ 1.02% SUZB3 41.95 ▼ 0.21% RENT3 41.78 ▲ 2.35% AZZA3 20.10 ▲ 3.61% CSAN3 3.75 ▲ 2.74% RAIZ4 0.42 — 0.00% PCAR3 2.08 ▲ 1.96% GMAT3 3.84 ▲ 1.32% PSSA3 52.19 ▼ 1.02% CVCB3 1.32 ▲ 4.76% POSI3 3.86 ▼ 1.03% SLCE3 13.46 ▲ 0.30% NATU3 7.72 ▲ 0.65% BRKM5 7.60 ▲ 2.29% RANI3 7.63 ▼ 0.65% CSNA3 5.27 ▼ 1.31% CMIN3 4.28 ▼ 0.47% USIM5 8.66 ▼ 4.94% GGBR4 21.70 ▼ 0.91% ENEV3 25.20 ▲ 2.31% NEOE3 33.80 — 0.00% CPFE3 44.12 ▼ 0.56% CMIG4 10.99 ▲ 0.46% EQTL3 38.20 ▲ 1.46% LREN3 14.54 ▲ 1.04% VIVT3 34.28 ▲ 2.21% RAIL3 12.90 ▲ 3.45% KLABIN 16.81 ▼ 0.71% RAIA DROGASIL 17.00 ▲ 1.25% RDOR3 34.34 ▲ 1.51% HAPV3 10.28 ▼ 3.11% FLRY3 15.07 ▲ 0.67% SMTO3 14.77 ▲ 1.16% UGPA3 25.49 ▲ 1.07% VBBR3 29.39 ▲ 1.58% BBSE3 38.27 ▼ 0.93% BPAC11 52.80 ▲ 1.13% CURY3 34.33 ▲ 1.36% AERI3 2.13 ▼ 1.39% VIVARA 21.88 ▲ 4.64% COMPASS 25.10 ▲ 2.57% VAMOS 2.81 ▲ 2.18% SANB11 26.75 ▼ 0.74% ASAI3 7.94 ▲ 3.12% SBSP3 28.16 ▲ 0.90% WALMEX 50.68 ▲ 0.22% GMEXICO 206.10 ▼ 1.87% FEMSA 223.29 ▲ 2.70% CEMEX 21.37 ▼ 1.79% GFNORTE 184.55 ▼ 1.77% BIMBO 56.02 ▼ 0.36% TELEVISA 9.50 — 0.00% AMX 22.74 ▲ 0.35% GAP 426.86 ▼ 1.15% ASUR 296.01 ▼ 1.41% OMA 235.06 ▼ 1.00% KOF 188.09 ▲ 1.68% GRUMA 280.58 ▼ 1.13% KIMBER 37.17 ▼ 0.83% SQM-B 70,150 ▼ 1.41% COPEC 5,967 ▼ 0.22% BSANTANDER 73.00 ▼ 2.58% FALABELLA 5,686 ▼ 3.61% ENELAM 82.80 ▼ 0.72% CENCOSUD 2,159 ▼ 0.05% CMPC 1,043 ▼ 0.48% BANCO CHILE 178.10 ▼ 2.14% LATAM AIR 25.35 ▼ 0.08% YPF 74,700 ▼ 1.06% GGAL 7,965 ▼ 2.45% PAMPA 5,120 ▼ 0.97% TXAR 681.00 ▲ 2.79% ALUAR 1,033 ▲ 2.68% TGS 9,460 ▼ 2.12% CEPU 2,345 ▼ 1.39% MIRGOR 16,425 ▲ 0.15% COME 44.24 ▼ 0.81% LOMA NEGRA 3,810 ▲ 5.03% BYMA 318.50 ▲ 0.32% TELECOM ARG 4,048 ▼ 0.25% ECOPETROL 15.51 ▼ 4.55% BANCOLOMBIA 80.97 ▼ 0.38% GRUPO AVAL 5.31 ▼ 0.56% CREDICORP 368.77 ▼ 3.10% SOUTHERN COPPER 178.57 ▼ 5.97% BUENAVENTURA 31.00 ▼ 4.35% MERCADOLIBRE 1,584 ▼ 0.36% NUBANK 12.59 ▼ 1.56% XP 15.72 ▼ 1.69% PAGSEGURO 8.76 ▼ 0.57% STONE 10.72 ▼ 0.19% GLOBANT 29.28 ▼ 2.30% TECNOGLASS 45.38 ▼ 1.71% GAP AIRPORT 244.10 ▼ 1.94% ASUR 296.01 ▼ 1.41% OMA AIRPORT 107.66 ▼ 1.83% AMX ADR 25.85 ▼ 0.88% FEMSA ADR 127.11 ▲ 1.56% CEMEX ADR 12.16 ▼ 3.34% PETROBRAS ADR 17.03 ▲ 0.12% VALE ADR 15.31 ▼ 2.55% ITAU ADR 7.94 ▲ 0.13% SANTANDER BR 5.26 ▼ 0.94% AMBEV ADR 3.17 ▲ 0.80% CSN 1.04 ▼ 0.95% GERDAU 4.17 ▼ 1.88% LATAM ADR 55.74 ▲ 0.02% BTC 62,693 ▼ 1.97% ETH 1,666 ▼ 3.51% SOL 69.62 ▼ 3.18% XRP 1.11 ▼ 2.09% BNB 577.68 ▼ 2.07% ADA 0.15 ▼ 3.86% DOGE 0.08 ▼ 3.93% AVAX 6.42 ▲ 3.01% LINK 7.61 ▼ 3.29% DOT 0.91 ▼ 2.67% LTC 41.98 ▼ 5.75% BCH 194.70 ▼ 1.30% TRX 0.33 ▼ 1.53% XLM 0.19 ▼ 4.28% HBAR 0.08 ▼ 1.12% NEAR 1.98 ▼ 4.30% ATOM 1.72 ▼ 4.06% AAVE 71.96 ▼ 4.11% SELIC 14.25% EMBRAER 78.80 ▲ 0.59% EMBRAER ADR 61.08 ▲ 0.20% JBS 12.23 ▲ 2.60% JBS BDR 62.80 ▲ 1.45% MBRF3 16.80 ▲ 9.88% MBRFY 3.15 — 0.00% INTER 5.33 ▼ 1.11% EGX 51,770 ▼ 1.55% USD/ZAR16.55▲ 0.87% USD/NGN 1,366 — 0.00% NIKKEI 69,501 ▼ 0.41% CSI300 4,911 ▼ 0.18% HSI 23,494 ▲ 0.68% NIFTY 23,824 ▼ 1.16% KOSPI 8,486 ▲ 3.44% JCI 6,101 ▼ 0.25% USD/JPY161.55▼ 0.01% USD/CNY6.79▲ 0.23% DAX 24,894 ▼ 0.98% CAC 8,341 ▼ 0.71% FTSE 10,429 ▼ 0.09% MIB 52,024 ▼ 1.56% IBEX 19,477 ▼ 0.34% STOXX 634.63 ▼ 0.73% EUR/USD1.14▼ 0.44% GBP/USD1.32▼ 0.04% SPX 7,365 ▼ 1.44% DJI 51,667 ▼ 0.09% NDX 29,347 ▼ 3.29% RUT 2,975 ▼ 0.14% TSX 34,927 ▼ 0.21% VIX 19.49 ▲ 18.84% USD/CAD1.42▲ 0.34% US10Y 4.4930 ▼ 0.35% IBOV 171,259 ▲ 0.52% IPSA 10,770 ▼ 1.21% IPC MEX 66,848 ▼ 0.41% MERVAL 3,248,428 ▼ 0.89% COLCAP 2,347.07 ▼ 1.93% BVL PERÚ 57,045.35 ▼ 0.46% USD/BRL 5.18 ▲ 0.78% USD/MXN 17.55 ▲ 0.99% USD/CLP 913.39 ▲ 0.76% USD/COP 3,419 ▼ 0.76% USD/PEN 3.39 ▲ 0.07% USD/ARS 1,471 ▲ 0.62% USD/UYU 39.91 ▲ 1.23% USD/PYG 6,064 ▲ 0.60% USD/BOB 6.86 ▲ 1.93% USD/DOP 58.11 ▲ 0.62% USD/CRC 452.10 ▲ 2.42% USD/GTQ 7.62 ▲ 2.31% USD/HNL 26.68 ▲ 1.40% USD/NIO 36.62 ▲ 0.72% USD/VES 619.98 ▲ 5.68% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 156.69 ▲ 0.12% USD/TTD 6.69 ▲ 0.53% EUR/BRL 5.90 ▼ 0.02% BRENT 76.75 ▼ 1.48% WTI 72.86 ▼ 2.62% IRON ORE 161.91 — — COPPER 6.13 ▼ 3.63% GOLD 4,098 ▼ 2.02% SILVER 61.56 ▼ 6.05% SOY 1,144 ▲ 2.55% CORN 437.75 ▲ 6.38% WHEAT 597.00 ▼ 0.08% COFFEE 275.75 ▼ 0.45% SUGAR 13.93 ▲ 4.34% ORANGE JUICE 151.05 ▼ 2.30% COTTON 78.50 ▲ 4.37% COCOA 4,661 ▲ 3.01% BEEF 246.05 ▼ 3.82% CATTLE 368.28 ▼ 0.58% LITHIUM 78.43 ▼ 5.01% PETR4 39.33 ▲ 0.41% VALE3 79.38 ▼ 1.89% ITUB4 41.05 ▲ 0.27% BBDC4 17.84 ▲ 0.91% ABEV3 16.37 ▲ 1.52% BBAS3 19.86 ▲ 1.43% B3SA3 14.72 ▲ 0.14% WEGE3 45.71 ▲ 1.02% PRIO3 56.10 ▼ 1.02% SUZB3 41.95 ▼ 0.21% RENT3 41.78 ▲ 2.35% AZZA3 20.10 ▲ 3.61% CSAN3 3.75 ▲ 2.74% RAIZ4 0.42 — 0.00% PCAR3 2.08 ▲ 1.96% GMAT3 3.84 ▲ 1.32% PSSA3 52.19 ▼ 1.02% CVCB3 1.32 ▲ 4.76% POSI3 3.86 ▼ 1.03% SLCE3 13.46 ▲ 0.30% NATU3 7.72 ▲ 0.65% BRKM5 7.60 ▲ 2.29% RANI3 7.63 ▼ 0.65% CSNA3 5.27 ▼ 1.31% CMIN3 4.28 ▼ 0.47% USIM5 8.66 ▼ 4.94% GGBR4 21.70 ▼ 0.91% ENEV3 25.20 ▲ 2.31% NEOE3 33.80 — 0.00% CPFE3 44.12 ▼ 0.56% CMIG4 10.99 ▲ 0.46% EQTL3 38.20 ▲ 1.46% LREN3 14.54 ▲ 1.04% VIVT3 34.28 ▲ 2.21% RAIL3 12.90 ▲ 3.45% KLABIN 16.81 ▼ 0.71% RAIA DROGASIL 17.00 ▲ 1.25% RDOR3 34.34 ▲ 1.51% HAPV3 10.28 ▼ 3.11% FLRY3 15.07 ▲ 0.67% SMTO3 14.77 ▲ 1.16% UGPA3 25.49 ▲ 1.07% VBBR3 29.39 ▲ 1.58% BBSE3 38.27 ▼ 0.93% BPAC11 52.80 ▲ 1.13% CURY3 34.33 ▲ 1.36% AERI3 2.13 ▼ 1.39% VIVARA 21.88 ▲ 4.64% COMPASS 25.10 ▲ 2.57% VAMOS 2.81 ▲ 2.18% SANB11 26.75 ▼ 0.74% ASAI3 7.94 ▲ 3.12% SBSP3 28.16 ▲ 0.90% WALMEX 50.68 ▲ 0.22% GMEXICO 206.10 ▼ 1.87% FEMSA 223.29 ▲ 2.70% CEMEX 21.37 ▼ 1.79% GFNORTE 184.55 ▼ 1.77% BIMBO 56.02 ▼ 0.36% TELEVISA 9.50 — 0.00% AMX 22.74 ▲ 0.35% GAP 426.86 ▼ 1.15% ASUR 296.01 ▼ 1.41% OMA 235.06 ▼ 1.00% KOF 188.09 ▲ 1.68% GRUMA 280.58 ▼ 1.13% KIMBER 37.17 ▼ 0.83% SQM-B 70,150 ▼ 1.41% COPEC 5,967 ▼ 0.22% BSANTANDER 73.00 ▼ 2.58% FALABELLA 5,686 ▼ 3.61% ENELAM 82.80 ▼ 0.72% CENCOSUD 2,159 ▼ 0.05% CMPC 1,043 ▼ 0.48% BANCO CHILE 178.10 ▼ 2.14% LATAM AIR 25.35 ▼ 0.08% YPF 74,700 ▼ 1.06% GGAL 7,965 ▼ 2.45% PAMPA 5,120 ▼ 0.97% TXAR 681.00 ▲ 2.79% ALUAR 1,033 ▲ 2.68% TGS 9,460 ▼ 2.12% CEPU 2,345 ▼ 1.39% MIRGOR 16,425 ▲ 0.15% COME 44.24 ▼ 0.81% LOMA NEGRA 3,810 ▲ 5.03% BYMA 318.50 ▲ 0.32% TELECOM ARG 4,048 ▼ 0.25% ECOPETROL 15.51 ▼ 4.55% BANCOLOMBIA 80.97 ▼ 0.38% GRUPO AVAL 5.31 ▼ 0.56% CREDICORP 368.77 ▼ 3.10% SOUTHERN COPPER 178.57 ▼ 5.97% BUENAVENTURA 31.00 ▼ 4.35% MERCADOLIBRE 1,584 ▼ 0.36% NUBANK 12.59 ▼ 1.56% XP 15.72 ▼ 1.69% PAGSEGURO 8.76 ▼ 0.57% STONE 10.72 ▼ 0.19% GLOBANT 29.28 ▼ 2.30% TECNOGLASS 45.38 ▼ 1.71% GAP AIRPORT 244.10 ▼ 1.94% ASUR 296.01 ▼ 1.41% OMA AIRPORT 107.66 ▼ 1.83% AMX ADR 25.85 ▼ 0.88% FEMSA ADR 127.11 ▲ 1.56% CEMEX ADR 12.16 ▼ 3.34% PETROBRAS ADR 17.03 ▲ 0.12% VALE ADR 15.31 ▼ 2.55% ITAU ADR 7.94 ▲ 0.13% SANTANDER BR 5.26 ▼ 0.94% AMBEV ADR 3.17 ▲ 0.80% CSN 1.04 ▼ 0.95% GERDAU 4.17 ▼ 1.88% LATAM ADR 55.74 ▲ 0.02% BTC 62,693 ▼ 1.97% ETH 1,666 ▼ 3.51% SOL 69.62 ▼ 3.18% XRP 1.11 ▼ 2.09% BNB 577.68 ▼ 2.07% ADA 0.15 ▼ 3.86% DOGE 0.08 ▼ 3.93% AVAX 6.42 ▲ 3.01% LINK 7.61 ▼ 3.29% DOT 0.91 ▼ 2.67% LTC 41.98 ▼ 5.75% BCH 194.70 ▼ 1.30% TRX 0.33 ▼ 1.53% XLM 0.19 ▼ 4.28% HBAR 0.08 ▼ 1.12% NEAR 1.98 ▼ 4.30% ATOM 1.72 ▼ 4.06% AAVE 71.96 ▼ 4.11% SELIC 14.25% EMBRAER 78.80 ▲ 0.59% EMBRAER ADR 61.08 ▲ 0.20% JBS 12.23 ▲ 2.60% JBS BDR 62.80 ▲ 1.45% MBRF3 16.80 ▲ 9.88% MBRFY 3.15 — 0.00% INTER 5.33 ▼ 1.11% EGX 51,770 ▼ 1.55% USD/ZAR 16.54 ▲ 0.21% USD/NGN 1,366 — 0.00% NIKKEI 69,501 ▼ 0.41% CSI300 4,911 ▼ 0.18% HSI 23,494 ▲ 0.68% NIFTY 23,824 ▼ 1.16% KOSPI 8,486 ▲ 3.44% JCI 6,101 ▼ 0.25% USD/JPY 161.56 ▲ 0.02% USD/CNY 6.7886 ▲ 0.06% DAX 24,894 ▼ 0.98% CAC 8,341 ▼ 0.71% FTSE 10,429 ▼ 0.09% MIB 52,024 ▼ 1.56% IBEX 19,477 ▼ 0.34% STOXX 634.63 ▼ 0.73% EUR/USD 1.1379 ▼ 0.08% GBP/USD 1.3202 ▼ 0.01% SPX 7,365 ▼ 1.44% DJI 51,667 ▼ 0.09% NDX 29,347 ▼ 3.29% RUT 2,975 ▼ 0.14% TSX 34,927 ▼ 0.21% VIX 19.49 ▲ 18.84% USD/CAD 1.4207 ▲ 0.01% US10Y 4.4930 ▼ 0.35%
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Guest Opinions Latin America

The Curmudgeon on the Second Coming

By · January 15, 2013 · 3 min read

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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL – Nicolás Maduro aspires to be the reincarnation of Lula. He may just get his wish. He’s the appointed Vice President and anointed successor of Hugo Chávez, moribund caudillo of Venezuela.

The Curmudgeon, also known as Michael Royster.
The Curmudgeon, also known as Michael Royster.
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Of humble origin, Maduro is a former bus driver with a high school education who got involved in labor union politics, turned out to be very good at it, and throve. Rising from the ranks of labor union leaders into politics, he achieved the post of President of the National Assembly, then was named Foreign Minister before becoming Vice President.

Lula, the lathe-worker has a remarkably similar background.

Notwithstanding the above credentials, Mr. Maduro faces opposition from two strong rivals, both of whom are potential candidates for President. One is Diosdado Cabello, now President of the National Assembly, who maintains close ties to the military and to Chávez. He might, under the Constitution, inherit the Venezuelan Presidency.

The other is Elias Jauá, a former VP appointed (but then un-appointed) by Chávez, a dedicated socialist and influential member of the National Assembly, well known for his outspoken leftist ideology.

Those of us who remember History will recall that, not so many years ago, Brazil faced a vaguely similar situation.

Tancredo Neves, indirectly elected in January of 1985, fell ill shortly thereafter but delayed a much needed operation, hoping against hope that he would survive until March 15th and be sworn in as the first civilian President of Brazil in over twenty years.

Vice President-elect José Sarney, with very close ties to the military, stood in the wings, unsure whether his fate would be to become President, succeeding Tancredo, or to remain as Vice President until new elections were called. Ulisses Guimarães, a dedicated socialist and the President of the National Assembly, knew that he might, under the Constitution, inherit the Brazilian Presidency.

In 1985, the Constitution called for the President of the National Assembly (Ulisses) to become President pro tempore, and call new elections, if Tancredo could not be sworn in. However, a consensus quickly arose that Sarney, sworn in by Congress as Vice President, should assume the office of President, if Tancredo was not able to be sworn in. And so it transpired.

Sound familiar?

Maduro, heir apparent, seems like the new Lula. A labor leader, a negotiator, a practical sort of person, just as was (is) Lula. Cabello, the putative heir, is the new Sarney, with connections to the military, but they are keeping a very low profile. Elias Jauá, the ideologue, waits in the wings for a sign which will not come.

So, Compañero Maduro, here’s to you! May you in fact be more a labor union leader than an ideologue, and may you negotiate with those who wish you well, and those who wish you ill, as Lula did. If you do, you will almost surely be elected President of the Bolivarian Republic this year.

In closing, the Curmudgeon notes that the USA has steadfastly refused to utter one single solitary syllable about the Venezuelan succession. Why? Because the USA is sure that Nicolás Maduro will be the next President of Venezuela, and believes he will be much easier to deal with than his current rivals.

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Michael Royster, aka THE CURMUDGEON first saw Rio forty-plus years ago, fetched up on these shores exactly 35 years ago, still loves it, notwithstanding being a charter member of the most persecuted minority in (North) America today, the WASPs (google it!)(get over it!)

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