Pundits and commentators on the Left and Right are pronouncing 'the end of the progressive cycle in Latin America'. They cite the recent presidential elections:
1. Argentina, where hard-right Mauricio Macri was elected;
2. Brazil, where President Dilma Rousseff has appointed a neo-liberal 'Chicago Boy' economist, Joaquin Levy, as Finance Minister and launched an IMF-style regressive structural adjustment policy designed to reduce social expenditures and attract financial speculators; and
3. Venezuela, where Washington channeled millions of dollars to far-right parties, as well as violent extra-parliamentary and paramilitary groups, to destabilize the center-left Maduro government; right-wing Democratic Unity Coalition (MUD) won the legislative elections in December 2015 with more than 2:1 margin over the Chavista Venezuelan United Socialist Party (PSUV).
