Argentina Goes Full-Venezuela - Plans To Regulate Prices, Profits, & Production

Zero Hedge ^ | 9-5-2014 | Tyler Durden

[blam]

Tyler Durden
09/05/2014

Just weeks after defaulting (yet again) on its debt (whether technically or not), and shortly after raising the minimum wage by 31% (to $523 a month) amid runaway inflation, it appears Argentina has gone full-Venezuela. As WSJ reports, the great minds that 'run' Argentina have decided to pass legislation (dubbed "the supply law") letting the government regulate private-sector prices, profit margins and production levels. The opposition is up in arms, "this is absolutely ridiculous. It's part of a very primitive ideology that says government officials should decide what people should make, how much they should make and how much they should charge," adding that "we already know exactly what it is like to suffer from these kind of interventionist economic policies," in Venezuela.

(snip)

"But Argentine officials say it's different this time...

(snip)

[TADSLOS]

Paving the Road to Hell Ping.

[E. Pluribus Unum]

Socialists/communists want to "redistribute" the things that capitalism creates.

The problem they face is that socialism/communism produces nothing that can be redistributed except poverty and misery.

[blam]

"worked so well for Venezuela they want to fingerprint you at the supermarket to control how much stuff you buy"

When I was a youngster, still in high school, I worked at grocery store where we were required to report anyone who bought to much sugar. (I forgot the report amount of sugar).

Suppose to stop moon-shinin....

[X-spurt]

It sort of funny that all of Argentina’s neighbors think Argentinians are dumb as dirt.

[rrrod]

Peru, Colombia and Chile are doing quite well these days. I live in Colombia about 6 months a year.

[Chode]

thank you...

[Kartographer]

Preppers’ PING!!

Hat tip to TEDSLOS for the heads up.

[Tolerance Sucks Rocks]

Oh, I’m sure it will work this time. Nothing to worry about here. /sarc

[Nebr FAL owner]

Mr. Mussolini please pick up the white courtesy phone.

[Nebr FAL owner]

Also known as Mussolini Model Fascism.

[Arrowhead1952]

It's part of a very primitive ideology that says government officials should decide what people should make

Just wait until bammer reads about this in the paper. He will be pissed off really bad and madder than hell taking notes for future plans.

[dsc]

“They are using their EBT cards for $18T in borrowed pie right now. It is just a matter of time until the credit card doesn’t work anymore.”

If they were standing in line at soup kitchens, perhaps more people would understand how bad this depression really is.

[tbw2]

Didn’t they do this in the 1990s, too?

[Maigrey]

I have acquaintances in Argentina and she complains a few times a week (in a moderate sized urban area) that the public water supply is turned off for anywhere from 8-12hrs some days.

And yet she can't fathom the problem of slow-imposition Communism because she gets a "free" University education.

I gave up trying to educate her on the pitfalls of Central Supply and control.

[bgill]

If done here, hussein would make min. wage $20/hr. and a Big Mac with large fries $2.50. That would shut down everything within the week and he will have succeeded in finally destroying America.

[CSM]

We need a global tax rate, managed by global governors! -Democrat response to the expected failures.