Latin America's rainmakers are not in the habit of eating humble pie. Until just the other day, after all, hyper-popular leaders like Hugo Chávez of Venezuela, Evo Morales of Bolivia and Brazil's Luiz Inácio Lula da Silva could do just about what they pleased, leaving their political foes little choice but to stand by and stew in frustration. But if recent events are any indication, the Latin charismacrats may have to get used to an unsavory set of new rules.

Across the region, democracy is biting back. On Dec. 1, Venezuelans handed Chávez a stinging defeat by turning down a 69-point referendum proposing everything from curbing private property to unlimited reelection. It was El Comandante's first loss at the ballot box, and a sign that the ballyhooed Bolivarian revolution will not be implemented by steamroller. Nor are things looking so rosy for Chávez's closest disciple, Morales, the coca-leaf grower-turned-messianic leader, who vowed to recreate Bolivia by recasting the constitution to redeem the country's teeming poor and forgotten. Now he presides over a nation riven ethnically, between the destitute indigenous majority and the relatively well-heeled light skinned heirs of the Spanish colonialists; geographically, between the hardscrabble Altiplano and the fertile, oil-and-gas-rich lowlands; and ideologically, between the left-wing nationalists who blame foreigners for Bolivia's woes and the globalists who want desperately to connect to world markets. So volatile is the political climate, the constituent assembly had to finish drafting the new constitution under military guard.