Skip to comments.Cry for Me, Argentina
Posted on 02/27/2014 5:49:54 PM PST by Kartographer
A bon mot doing the rounds in post-commodities-boom South America is that Brazil is in the process of becoming Argentina, and Argentina is in the process of becoming Venezuela, and Venezuela is in the process of becoming Zimbabwe. That is a little harsh on Brazil and Venezuela.
(Excerpt) Read more at nytimes.com ...
Twenty-five years ago I left a country of hyperinflation (5,000 percent in 1989), capital flight, currency instability, heavy-handed state interventionism, dwindling reserves, uncompetitive industry, heavy reliance on commodity exports, reawakening Peronist fantasies and bottom-of-the-world complexes
All I could think when reading that is that that will be the USA soon under Obama and endless QE.
I disagree with the author of this piece. I have information from a friend in Argentina.
Argentina has gone through cycles of failure MANY times. This is just one more. It isn’t Venezuela. The deplorable leader (Kirchner), will be gone.
People who live there - particularly older people - expected this and expect the good times that will follow.
In the meantime, Brazil has increasing crime and a decreasing economy.
Both nations have a lot going for them.
Chile is where it is really happening.
Then I wonder then why Ferfal linked the article to his blog?
Argentina is going more socialist every day. That always ends up in the same place.
Who is “Ferfal”?
“Argentina is going more socialist every day. That always ends up in the same place.”
Oh, I think it is a disaster for the country. It isn’t the first time. Historically, I don’t think the coming disaster will be the last either. In between the coming disaster and the next disaster, life will continue on in a great country with great people.
If socialism ‘always’ ... ends up in the same place, the US is screwed. It probably is, but I hope it is forestalled.
Yeah a few million will die and more will suffer terribly. But eventually things will get better.
From America 2024:
Then, to give expression to its uniqueness, America invented its own political philosophy: a strange mishmash of nationalism, romanticism, fascism, socialism, backwardness, progressiveness, militarism, eroticism, fantasy, musical, mournfulness, irresponsibility and repression. The name it gave all this was Obamanomics. It has proved impossible to shake.
All of that text and he never gets around to the truth: Argentina was ruined by socialism, a dependency culture, and unions tied to the govt. Sound familiar?
OK, thanks. I knew the name was familiar.
Hence, why I said it will be a disaster...
During the Falklands war I learned that 40% of the nation was ethnic European. What they need is an infusion of capitalists-retired or otherwise to show them the right way. The Falklands? Much ado about nothing. It’s a good subject changer.
He is an English speaking blogger from Argentina talking about its collapse and survival tips he’s learned, recently moved to North Ireland - one of the few places in the UK where you can own a gun.
“Argentina is the child among nations that never grew up. Responsibility was not its thing. Why should it be? There was so much to be plundered, such riches in grain and livestock, that solid institutions and the rule of law seemed a waste of time.”
Replace “Argentina” with “Obamanation” and you have the US today.
Yes, I remember him. He was in BA at the time... I think I’d favor the western wine-growing region near the Andes.
Each region is semi-autonomous in how it implements law. The further from the capital, the better for freedom.
Truly beautiful and great weather. If the world collapses, not much will happen here to change life... except you may have more wine available to drink locally at better prices...
And apparently failed to learn after each cycle.
“And apparently failed to learn after each cycle.”
Absolutely! My original point is that it is a great and wonderful country with a deplorable leader... who will be gone eventually.
Chile *IS* where it is really happening. That and Peru, which is projected to be the 5th fastest growing country in the world in 2014.
I recently sold my business and plan to relocate at least six months out of the year in S.A., starting a business to provide consulting services to students who are coming to the USA to study. I own(ed) an insurance brokerage here in the USA, and have a card file/google contacts list of a bunch of students from Duke (MBA and International law) who have promised me leads to others doing the same. We will see how that goes, but it is still exciting to visit Colombia, Peru, Chile and a number of other countries. Chile especially has 1) a non corrupt police force 2) a completely privatized “interstate” highway system which was back up and running in less than 2 weeks after the recent earthquake (shows what the private market can do) and 3) a national pension system that is INDIVIDUALIZED. You put your funds in a segregated account, invested at your discretion, and it grows with the market. 30 years ago, they gave Chileans a choice between a national pension (like our SS) and a private plan. The national pension of a pool for workers (again, our Social Security) completely collapsed. It has been 30 years now, and the first generation of retirees is going out of the productive system. The average Chilean makes 40% of the USA citizen, but HE NOW RETIRES WITH MORE ASSETS.
I have a bunch of students from Chile as clients and they are sharp as tacks. Sectors of Latin America have a very very bright future, mostly because they laugh at Marxism in the universities there, and our kids have it force fed to them.
Doug Casey, a speculator and libertarian, has formed a community of retirees up in the wine country of Northwestern Argentina. He says that all the crap in Buenos Aires doesn’t really affect them, except to make their dollars go further.
We are thinking along the same lines. Also just sold our businesses.