United States of Argentina. How inflation turned a rising power into a pauper.

American Conservative Magazine ^ | Fed 2009 | Philip Jenkins

[Leisler]

Anyone not alarmed by the state of the U.S. economy is not paying attention. As our Dear Leader begins his term, the theory of very big government has the support of an alarmingly broad political consensus. Despite the obvious dangers—devastating inflation and the ruin of the dollar—the United States seems pledged to a debt-funded spending spree of gargantuan proportions.

In opposing this trend, critics face the problem that the perils to which they point sound very theoretical and abstract. Perhaps Zimbabwe prints its currency in multi-trillion units, but that’s a singularly backward African dictatorship: the situation has nothing to do with us. Yet an example closer to home might be more instructive. Unlike Zimbabwe, this story involves a flourishing Western country with a large middle class that nevertheless managed to spend its way into banana-republic status by means very similar to those now being proposed in Washington.

The country in question is Argentina.....

[Leisler]

"The road to economic hell is paved with excellent intentions—a desire to save troubled industries, relieve poverty, and bolster communities that support the present government. But the higher the spending and the deeper the deficits, the worse the effects on productive enterprise and the heavier the penalty placed on thrift and enterprise. As matters deteriorate, governments have a natural tendency to divert blame onto some unpopular group, which comes to be labeled in terms of class, income, or race. With society so polarized, the party in power can dismiss any criticism as the selfish whining of the privileged and concentrate on the serious business of diverting state resources to its own followers.

[Prokopton]

Perhaps Zimbabwe prints its currency in multi-trillion units, but that’s a singularly backward African dictatorship

But it didn't use to be.

[Uncle Miltie]

Don’t worry, everything will be fine....
.....
.....
............until the moment it isn’t. Too late! You’re scr*wed.

[Screaming_Gerbil]

Perhaps Zimbabwe prints its currency in multi-trillion units, but that’s a singularly backward African dictatorship...

But it didn't use to be.

That was when it was called Rhodesia.

Funny thing about majority rule - they put a dictatorship in power and the people are much worse off today than they were before...

[oneolcop]

So, let’s assume that the US is circling the drain at an ever increasing rate. (Probably a pretty safe assumption.) What can a person do to protect whatever assets, family, lifestyle he wishes to protect?

[Henry Belden]

What can a person do to protect whatever assets, family, lifestyle he wishes to protect?

Okay, I'll bite.

Assets: Diversify away from the epicenter of the coming disaster -- that would be my guess. That would mean out of the U.S., out of the dollar, out of dollar-denominated assets in general, especially before the currency controls kick in.

Family: Consider a just-in-case residence in a country that respects personal freedom more than this one now does. Doesn't have to be elaborate.

Lifestyle: RKBA Democrat, who seldom posts here anymore, maintained a Surviving Socialism ping list that focused on all three of your concerns, lifestyle especially.

[oneolcop]

Pretty much what I thought. But always looking for other perspectives.

[Henry Belden]

Well then, here's your other perspective right here:

SURVIVING IN ARGENTINA

Just by coincidence, FerFAL today links to Don't Cry For Me, America, a good Reader's-Digest type summary of how Argentina got where it did, courtesy of JPFO. Good read.