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According to reports out of Venezuela, President Hugo Chavez was rushed to a Caracas hospital on Thursday after suffering kidney failure. A source told the Miami-based Spanish language daily El Nuevo Herald that Chavez was in critical condition. The 56 year olds health has been deteriorating ever since he underwent cancer surgery in Cuba in June.

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Cuba promised once again this week that private property ownership would become a reality by the end of the year. Of course with options come regulations, and Cubans are expecting strict guidelines like limiting Cubans to one full-time residence and imposing property taxes to suppress the market. Regardless, private property is a cornerstone of capitalism so it’s a huge leap forward for the communist nation.

Venezuelan President Hugo Chavez has returned to Cuba to undergo further cancer treatment. He initially came back from Cuba earlier this month, and has had a much lighter workload on doctor’s orders. He hasn’t given any specific details on what kind of cancer he’s fighting. He’s pledged to return in better shape than he’s in now.

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