Chavez's socialist project badly hobbled

The socialist-inspired governing model that Chavez calls his Bolivarian Revolution — named after 18th-century independence leader Simon Bolivar — is weakened and hobbling. And though Chavez retains close ties with a bloc of leftist governments from Bolivia to Nicaragua, many Latin Americans don’t see Venezuela’s oil-funded populism as viable.

Among Venezuelans, Chavez’s popularity slipped below 50 percent in polls late last year.

The protest slogan "you struck out” recently appeared on banners held up during Venezuelan baseball games, which Chavez himself follows closely, and spread to signs and shirts during street demonstrations.

Last week, thousands gathered to denounce the government for yanking the anti-Chavez channel RCTV from cable television, and clashes involving riot police, government supporters and anti-Chavez students left two youths dead. Also last week, Chavez’s vice president and defense minister, Ramon Carrizalez, resigned citing personal reasons.

State-imposed economic controls, meanwhile, have failed to contain 25 percent inflation, rapidly eroding the earnings of the poor who have been Chavez’s core of political support. Chavez’s devaluation of the currency this month — aimed at allowing the government finances to boost public spending — is expected to push prices even higher.