I hate to say I told you so, but I did. As well as the Economist, the WSJ has taken notice. What I didn't say last year, was that Velasco has also developed his political skills. He has not completely abandoned his professorial demeanour, but he is a much smoother schmoozer than he was at the start of this government, and a clear candidate for 2013 -- although some have even put him forward as a possible replacement for Frei should the latter's campaign not take off in the coming months. That would be a mistake, but if he has not already done so, Velasco should do some serious soul-searching. Will he return to Harvard next year, or lay the foundations for 2013? The José Miguel Insulza experience should teach him that he cannot do both.