Reply #79: From wikipedia [View All]

On January 31, 2007, Venezuelan National Assembly approved an enabling act granting Chávez the power to rule by decree for 18 months. He plans to continue his "Bolivarian Revolution", enacting economic and social changes. He has said he wants to nationalize key sectors of the economy.<93><94> Chavez, who is beginning a fresh six-year term, says the legislation will be the start of a new era of "maximum revolution" during which he will consolidate Venezuela's transformation into a socialist society. His critics, however, are calling it a radical lurch toward authoritarianism by a leader with unchecked power.

--this is essentially what I heard from the news.