Bolivarian socialism marches forward in Venezuela, and El Universal delves into what plans President Hugo Chavez has for private property:

"At the present time, in the case of the houses that are being built by the government, the recipients receive a deed of adjudication and in the award ceremonies the head of state advises families, 'these houses are for you, they cannot be sold.'

Not only there are restrictions with housing, but also with different assets. For instance, during a broadcast of his TV and radio show 'Aló, Presidente,' Chávez commented that a vehicle 'is a good intended to meet a need: transportation –individual transportation, family transportation, transportation for work.'

Attorney José Vicente Haro explained that in the face of the statements, 'private property becomes a precarious right.' In his view, 'there is some form of ownership with some attributes, but wherever is stated that the individual inherits any property, there is an attempt at preventing trade; therefore, it becomes a sui generis property, void of content, because it cannot be transferred, encumbered or mortgaged.'

In the expert's view, upon delivery of a deed of adjudication, a form of ownership which is not under the Venezuelan legislation applies. 'Nothing prohibits it, or regulates it and somehow collective property begins.'"

Bringing, the Sunday Times says menacingly, "droughts, floods, crop failures and social unrest." Being a Los Angeles native, I just thought that El Nino also meant that L.A. would finally get rain and hopefully not as many wildfires. But here's better insight on the warming in the Pacific Ocean:

"According to scientists at America’s National Oceanic and Atmospheric Administration (NOAA), a new bout of El Niño is under way as the surface of tropical waters across the eastern Pacific has warmed roughly 1C (1.8F) above normal and is still rising.

Further down, some 150 meters (500ft) below the surface, the waters are heating up — by around 4C (7.2F).

...The implications are severe, not just for climate but for the effects on food, water supplies and other commodities. Australia, still recovering from its worst drought in a century, will be hit again if the rains fail to nourish its wheat belt. Indonesia is one of the world’s biggest producers of palm oil — a basic source of income for many of its poor — and a drought would hit this commodity hard.

Farming in India is already suffering from an abnormal monsoon, which scientists think could be related to the emerging El Niño."

An interesting ranking from U.S. News and World Report based on the International Monetary Fund's economic output projections for the rest of the year and 2010:

"The IMF expects at least 11 major parts of the world to have more severe economic contractions than the United State this year, including most of western Europe, Japan, Russia, and Mexico. Europe will still be stumbling along behind the United States next year, as well.

...If these projections come true, it means the United States, despite its overspent consumers, wrecked banks, and insolvent automakers, will be leading the world economy out of recession. Somehow. The developing world will help, but those high growth projections in China and India can be deceiving. China in particular has government policies that practically mandate high growth, and 8.5 percent in 2010 would be just about the bare minimum to keep employment at tolerable levels. And neither China nor India is a major buyer of American-made goods and services; for the most part, it's the other way around. With much of the developed world trailing the United States, it will take American consumers to ratchet up demand for the world's products. Scary thought."

See the whole chart here.

It was supposed to be the return of the ousted leader, but after circling in a Venezuelan jet deposed Honduran President Manuel Zelaya gave up Sunday and flew to El Salvador instead, reports Bloomberg. Telesur, however, reports that he is headed toward Nicaragua; Zelaya told the network by phone in a sort of play by play that the armed forces -- which he had implored to let him land -- were threatening to intercept the plane. Zelaya told Telesur that he would work with the governments of Argentina, Ecuador and Paraguay "to seek an exit to this situation."

"I have to return to my country," Zelaya told the Caracas-headquartered "Bolivarian" network.

Venezuelan President Hugo Chavez told his network that further U.S. intervention was needed, saying "I believe that Obama is a prisoner of the Empire."

Meanwhile, Honduras has been suspended from the Organization of American States.