Rogoff and Reinhart wrote an excellent book about sovereign bankruptcies and bank crises, “This Time is Different.” After each bankruptcy, the government in question claims to be reformed, tightens up the ship, and then borrows and spends, convincing investors that “this time is different.” It’s Argentina, for god’s sake. Serial socialist deadbeats.
Remember, at the beginning of the 20th century Argentina was considered every bit as advanced as Europe or the US. Then it’s government went awry.
Then it’s government went awry.
No, it went communist (socialist until they bring out the guns).
"Argentina's population is overwhelmingly European in origin (principally from Spain and Italy); there is little mixture of indigenous peoples. An estimated 97% of the people are of European extraction, and 3% are mestizo, Amerindian, or of other nonwhite groups. The pure Amerindian population has been increasing slightly through immigration from Bolivia and Paraguay."