Argentina defaulted on its debts back in 1999.
A socialist government came to power.
They nationalized private pensions.
Everybody in the west fawns over their impressive economic growth
it looks like they're going to default again DESPITE nationalizing foreign interests.
I'm still trying to figure out how Argentina not only got access to the capital markets after it stiffed its creditors 13 years ago, but how private western companies thought it would be a good idea to invest there.
Oh well, everybody enjoy that decline!