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March 21, 2013
Yoani Sanchez is wonderful but wrong about the embargo
Yoani Sanchez is a wonderful lady. She has single handily put Cuba's repressive state on the front pages. Her trip to the US and other places has been a great success even if there were demonstrators calling her a CIA agent. I hope that they don't email the editors of American Thinker that I am an agent of the CIA, too.
By the way, do these demonstrators know that such demonstrations are not allowed in Cuba? It's amazing to me the extent to which the left will go to make fools of themselves.
Yoani is wrong about the embargo. I am not angry with Yoani about that. I think that she has never been told, or heard about, the real story of the embargo and why the Castro dictatorship is desperately trying to lift it.
Cuba does not have an embargo problem. Instead, it has a "we can't get credit anymore" problem. Cuba also has a "socialism does not work" problem.
Cuba can do business with any country on earth.The world is ready and willing to sell its goods and services to Cuba. Unfortunately for the Castro dictatorship, "credit lines" are not being extended. No one wants to sell Cuba on credit, a reflection of the island's inability to service its debts.
I repeat: Cuba has a "socialism is a GRANDE PROBLEMA" problem!
Cuba restructured its foreign debt in November 2011. In fact, Cuban debt is such "basura" (Spanish for junk) that some speculators are buying it at "6 to 10 cents on the dollar" hoping that they can make a huge return after Castro dies: "Leadership change is frequently good for deadbeat sovereign bonds!"
Who would benefit from lifting the embargo? Not the Cuban people! Not Yoani and her husband! Not my cousin and family still living in Cuba!
The real beneficiary will be the Castro dictatorship who will now have access to US credit lines, specifically export financing available to US companies. For example, Alabama sells to Cuba but on a "cash" basis.
The second beneficiary is the Castro family businesses. There is no "free press" in Cuba but we understand that the family fortune is over $1 billion! These businesses operate in tourism and other trade with Cuba.
"Castro Inc" is a huge capitalist enterprise operating for the benefit of Fidel and Raul Castro, the same two who are greeted by leftist crowds all over as champions of the poor and providers of free health care for their people. In fact, the only thing that Fidel & Raul Castro know about poverty is that they've created lots of it! And the only thing that they know about health care is that they rely on foreign doctors when they get sick.
With all due respect to Yoani, she is wrong about lifting the embargo. We learned from Yoani that there are many dissidents in Cuba, such as Dr Biscet, who do not want a relaxation of the embargo.
Let's hope that they convince Yoani so that we can expedite the collapse of the Castro dictatorship. In the meantime, please let me repeat that Yoani is a wonderful but very wrong on the embargo.
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