His speech followed the recent high-profile defection of his former Defense Minister Gen. Raul Baduel, a longtime ally who called the president's proposed reforms a "coup." Others have also broken with the Chavista movement in recent months, including politicians of the small left-leaning party Podemos.

At the moment, Chavez is riding high as he is hugely popular among the country's poor. His promises to redistribute the wealth of the nation resonate with people who have little or nothing and very little hope for the future.

The opposition, meanwhile, is disheartened, intimidated, and divided. It seems a foregone conclusion that the referendum on December 2 will pass and Chavez will get his dictatorial powers along with the ability to keep running for president as long as he is alive.

Wonderful. Great news.