An alliance of pipsqueaks

It might not sound like it, but this is the best news Dick Cheney's had in weeks.  Iran's president Mahmoud Ahmadinejad was in Venezuela over the weekend, where he and president Hugo Chavez came up with a crackerjack idea: Teaming up to bankroll investment projects for other governments also hostile to Washington.

Other countries can now join in on a $2-billion fund that Ahmadinejad and Chavez had previously set aside to fund projects in their own countries.

We pause here for some of the usual grandiose rhetoric from Chavez.

"It will permit us to underpin investments … above all in those countries whose governments are making efforts to liberate themselves from the [U.S.] imperialist yoke."

It all sounds very intimidating, and I'm sure Cheney is popping a vein or two as he's briefed on these sessions, issuing orders to accelerate regime change in Tehran and unleash all manner of devastation.  But if he were smart, he'd just lie low and let these guys keep on doing what they're doing.

Iran could run out of oil to export by 2015, and Venezuela's pitiful national oil company can keep pumping only by compromising Chavez's rhetoric and cutting deals with the demon Big Oil.  So if these guys want to blow a couple billion here and there on foreign aid, and weaken their economies that much more, Washington should do nothing to stand in their way.

From Venezuela, Ahmadinejad went on to Nicaragua.  He'll also stop by Ecuador and Bolivia this week.  To which I can say only, keep it up, Mahmoud.  Spread around your wealth, as much as you can, as fast as you can.  It will only hasten the doom of all your socialistic regimes, and if you do it fast enough, you might even spare the rest of us from the horrors unleashed by a neocon attack on the Islamic Republic.

The Daily Reckoning