Venezuela is broken and Libya is on fire. The Chavez government is incompetent and the Gaddafi regime may be just days away from collapse as chaos fills the streets. Rumors of Gaddafi escaping to Venezuela are unfounded. However, if two men ever deserved each other, these two fit the bill.

Chavez, in all his economic wisdom has brought on over 28% inflation and counting in addition to the Currency Market Takeover Spurs Lines for Dollars. All this wonderful news led me to search for Venezuelan ADR's (American Depository Receipts) in case I wanted to follow the market there, and make a contrarian play, or if I really wanted to get wild short something.

What a terrible message for the holiday season, with consumers swooping up bargains, lines at the Apple, Inc. (AAPL) Store, the stock market only going up, and a majority of economic prognosticators simply glowing at the prospects for 2011. Perhaps it is contrarians that should follow the "don't ask, don't tell" military rule just signed out of existence by president Obama today.

Unfortunately I can't help myself. I have to ask, I have to tell. When I see everyone get too giddy, I start to put on the breaks and slow down. It is not that I wish unhappiness upon people. I just want them to refrain from being lemmings. Some percentage of the market's upswing is short covering, and some can be attributed to momentum investors and market timers (big mistake) but that is 100% speculation and zero percent investing.

If you are looking for high yielding stocks you will find the telecommunications industry is quite obliging. AT&T, Inc. (T) is currently paying a 6.4% yield and Verizon Communications Inc. (VZ) is offering 6.25%. Given that these are such low beta stocks, I have a hard time rationalizing keeping much money in Certificates of Deposits or Treasuries for the peanuts they are doling out.

While these yields are very generous there is a stock that might have you extending your investment world "down under" to Telecom Corp New Zealand (NZT), as they will reward your journey with a 10.99% yield. This is an outstanding return and allows you to diversify your portfolio outside the U.S. but still trade on the NYSE.

MAJOR PAPERS:

• Catchy new Dell Inc (NASDAQ: DELL) computers have launched today, reported the Wall Street Journal (subscription required).
  
• Tyson Foods Inc (NYSE: TSN) said last week that it would produce all of its retail chickens without antibiotics, and that could be good for profitability, reported the Wall Street Journal's "Heard on the Street" column.
• A rebel Vodafone Group plc (NYSE: VOD) shareholder will describe how the company's stake in U.S. mobile phone operator Verizon Wireless is a "cash drain" on Vodafone, reported the Financial Times (subscription required).
  
• The Financial Times also reported that Franklin Resources Inc (NYSE: BEN) is planning a strong push into the U.K., where it has so far failed to gain traction.

OTHER PAPERS:

• The replacement for NZ Telecom Corporation (NYSE: NZT) CEO Theresa Gattung, who is retiring after eight years on the job, is not yet known but expected to be announced before the end of the week, reported the New Zealand Herald.

"We've scoured the world for stable businesses with high yields and the potential for currency-based gains," says Martin Weiss.

In his Safe Money Report he notes that he is focused on firms with steady, stable businesses. And two global telecoms that fit this profile are Telecom Corp. of New Zealand (NYSE: NZT) and Chunghwa Telecom (NYSE: CHT).

He explains, "Telecom Corp. of New Zealand is benefiting from both the strong New Zealand economy and the continuing sharp rise in the NZ dollar. Right now, the company is in the midst of a debate with the government over how to split up its operations."

He continues, "The government wants a reorganization that will promote phone competition and boost high-speed Internet use. NZT wants to make sure any changes won't prove too costly or complex. It's too soon to predict the details, but we're confident that any plan will treat all parties fairly -- including shareholders."

I've just returned from the World Money Show in Orlando where more than 10,000 investors gathered to learn about global investing. I had a chance to meet with many of the U.S. and foreign financial experts featured at the show, and over the next week I will share some of their top investment ideas. To view all of the stocks featured in this special global report, click here.

Investors seeking growth and income should look to New Zealand -- a "gem that shouldn't be ignored," says Martin Weiss. The editor of Safe Money Report notes that New Zealand's short-term government yields of 7.25% are two full percentage points more than the federal funds rate in the U.S.

And, he expects the Reserve Bank of New Zealand to hike rates even further in March -- probably to 7.5%. Meanwhile, he adds, "Growth is strong. While home sales in the U.S. are falling, in New Zealand, they rose 19% year-over-year in December. Consumer spending is rising. So are corporate profits. And the New Zealand dollar is on the upswing, rising about 13% in the past six months.

His top buy on this market is Telecom Corp. of New Zealand (NYSE:NZT), that country's pre-eminent telecom utility. And he points out, investors can buy its American Depository Receipts in the U.S. through a regular brokerage account.