Socialism in Bolivia

Today, Evo Morales, the first indian President of Bolivia, has just declared that Bolivia will take control of its resources. What does that mean? That the Bolivian Government has shown its signs of becoming like its leader, a socialist. The claim that foreign companies have "looted" their resources is absurd. The looting will begin once the government takes full control of the resources.
Is this really for the people? What will they see from this other than complete control to a man who thinks he is doing what is right for his people. The partially privatized industries have lost all right to what they have spent their money on. What is it these socialistic Presidents want? Money
They believe that they can control foreign investors and corporations with their bullying. Sadness is that their bullying will only cause an uproar in foreign investment. The foreign companies will pull out and the socialistic country will be forced to take of itself, but without the foreign companies who is going to bring in the technology, the high skilled laborers to further expand the technological identities to improve the companies status? If anything this is sure doom for Bolivia. They look forward with greed and will find that they are further decreasing their chances of becoming a world power, even with a vast supply of resources.
http://www.washingtonpost.com/wp-dyn/content/article/2006/05/01/AR2006050100583_2.html?sub=AR