and look what happens.
Just kidding. Margret Thatcher and (more recently) Merkel display/ed more fiscal responsibility than the bozo we have in office today.
That being said, time to buy more commodities! Cause the same thing is going to happen here!
Enjoy the decline!
Sad really, Argentina is a country that by all rights should be as wealthy as Canada ... expect they have a a populist ineptocracy running it, and for some reason populace that ALWAYS goes for that crap, like Charlie brown and the football.
ReplyDeleteThis is why being anti-austerity and pro-bankruptcy is usually better in the world of politics, if only by accident. "Austerity" means stalling and extracting as much as possible from naive lenders, and threatening a meltdown otherwise. The Greek Strategy.
ReplyDeleteConservatives who play along and try to right the ship succeed only in taking it the chin instead of the forehead. Then they take it in the worst place. (pocketbook duh)
Hey anon 9:32, in the year 1900, Argentina was richer then the US. Argentina has vast natural resources, and very productive farmland. However, being a former colony of Spain, means corruption is a problem. In fact all of South America, suffers from the same scourge.
ReplyDeleteLets face it, if you have any money in Argentina, it will probably end up in a Swiss bank. No wants to risk their capital, in a place like that. A few years ago, the government ceased all private retirement funds. Who would invest in a place like that?
Anon 4:07 I know. Hence my sadness at seeing all that potential wasted by sad nasty populists blinded by leftist rage and stupidity.
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