As you know, I only occasionally revisit pure economics and that's if I have a very interesting economic observation or epiphany. Most of what I use economics for today is mere citation or statistical support of a larger philosophical (or in the case of the Manosphere) sexual argument. And once again the reason is simple - nobody is willing to listen to data and statistics. Economics falls on the deaf ears of those who need it most - leftists. And since most of the economists, lieutenants, and agents in the field here already have intellectual honesty and a desire to seek out truth, throwing up more charts showing that, yes, indeed, socialism still sucks, it pointless.
That being said I always love a good economic whipping of idiotic South American countries whose peoples are sometimes so galactically stupid they wonder why they're perpetually in 2nd world status. Specifically Venezuela and now, Argentina.
In short, both countries implemented socialist policies. One by a now-deceased crusaderist ideologue and the other a whorish looking president, Christina Kirchner. We all knew Venezuela, pursuing near Marxist policies would end up having lines and shortages for basic staples of life. But what the media in the US doesn't report is more or less the same thing happening in Argentina. Price controls, police shutting down companies that do not comply. It's just another datapoint to add to the already-sickening number of datapoints where idiotic politicians think "this time it will be different," but only manage to show their truly and outstanding ignorance of basic economics.
However, the interesting thing about Argentina's economic problems is that they're failing to gain traction in US media. The answer is simple:
Obama deep down insides envies Kirchner's socialist policies and her stealing every Argentines' private pensions, and the MSM knows it.
The sad truth is that if Argentina's economic problems were highlighted some people would realize nationalizing pensions does not provide any medium or long term economic fix. Matter of fact, it just is an omen of worse economic times to come. And sadly, nationalizing private retirement accounts is one of the last tricks the socialists/democrats/Obama have in their leftist bag of economic tricks to keep the "Never Ending Keynesian Stimulus" going. The media, of course, just doesn't have the heart or journalistic integrity to point it out.
Thankfully for Obama, however, the average American is too stupid to care. Between the average American male idiot filling out his "brackets" for March Madness to the average obese American female reading People magazine whilst gorging on cupcakes, both are way too pre-occupied with the irrelevancies of life to study the structural problems of the US federal deficit.
Again why this blog has turned from one of strictly economics and data, to one of philosophy, mockery, ranting, and enjoying the decline.
I avoid thinking of Argentina, too. I'm a touch older than the average reader, and I remember vividly the last time they went bankrupt. It wasn't that long ago, and, if I'm not mistaken, they've already defaulted on the repayment of that last payout, so they're on their own.
Finally, it's worth noting that the socialist government of Argentina IS the government appointed by the will of their people. Chickens=roost.
Argentina has been a basket case forever and a day.
This comes down to those horrible race-related truths that you - among others - tend to find unpalatable: third world people create third world gov'ts.
Unless genetics are forcibly trumped by training...well, that Kenyan imposter is going to do what a Kenyan is going to do.
I think Secession is going to be a big deal with some regions of the USA really quick.
Nothing new here. Google Peron.
Argentina's last vacation from socialist hell was ended when the military government thought they could try to take some islands from the British.
They should have stuck to tossing socialist hippies out of aircraft and into the Atlantic.
I saw a TV programme about Gorbachov and the collapse of communism.
Some commie planner was explaining that, unlike The West, they had no market to set prices so it was done by a the govt.
He produced a stack of books which had the prices of everything.
He explained that under Perestroika things were different and produced a pile of floppy disks.
Yes, now, the prices of everything was computerised!
I am guessing you are aware that the designation of "2nd world" refers to cold war dynamics and refers to the Soviet/Eastern Bloc membership. It has nothing to do with haw advanced or retarded a society is economically.
1st world = USA, Canada, Western Europe, Japan.
2nd world = Soviet Russia, Eastern Europe.
3rd World = Everyone else.
Argentina's actually predominantly white - Spanish and Italian stock mostly. We all know how those countries are doing. Argentina's rapid rise in the 19th century however had a disproportionate English influence
Re: Race relations in Argentina - aren't the majority of Argentinians of European extraction?
Christina Kirchner. Sounds like a very German name to me.
Also, when do you think they will get around to seizing (stealing) the pensions/401k's of fedgov workers?
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