Posted on 09/05/2014 2:37:28 PM PDT by 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)
(Excerpt) Read more at zerohedge.com ...
Well, I ain’t crying for them.
You’d think by now, everyone on the planet would understand that kind of central planning simply does not work.
I wouldn’t be surprised that all of Latin America follows suit, except maybe Colombia and Costa Rica. Wow.
Point One: All workers, wage earners, and employees of any kind whatsoever shall henceforth be attached to their jobs and shall not leave nor be dismissed nor change employment...
Point Two: All industrial, commercial, manufacturing, and business establishments of any nature whatsoever shall henceforth remain in operation, and the owners of such establishments shall not quit, nor leave, nor retire, nor close, sell or transfer their business...
Point Three: All patents and copyrights, pertaining to any devices, inventions, formulas, processes, and works of any nature whatsoever, shall be turned over to the nation as a patriotic emergency gift...
Point Four: No new devices, inventions, products, or goods of any nature whatsoever, not now on the market, shall be produced, invented, manufactured or sold after the date of this directive...
Point Five: Every establishment, concern, corporation or person engaged in production of any nature whatsoever shall henceforth produce the same amount of goods per year as is, they or he produced during the Basic Year, no more or no less...
Point Six: Every person of any age, sex, class or income, shall henceforth spend the same amount of money on the purchase of goods per year as he or she spent during the Basic Year, no more and no less...
Point Seven: All wages, prices, salaries, dividends, profits, interest rates and forms of income of any nature whatsoever, shall be frozen at their present figures, as of the date of this directive. (But taxes will be allowed to increase as needed for the public good)
Point Eight: All cases arising from and rules not specifically provided for in this directive, shall be settled and determined by the Unification Board, whose decisions shall be final.
That was Directive 10-289 from Atlas Shrugged. The latter, I am told, was supposed to be a work of fiction.
worked so well for Venezuela they want to fingerprint you at the supermarket to control how much stuff you buy
“... it’s different this time...”
hahahaha
Next, we await los desaparecidos, II
LOL. You must not live in a Blue State or know any Democrats. They truly believe that if a Harvard Liberal doles out ‘fairness’ to all citizens and non-citizens from our hard work...the work of the little people, things will go great.
It fails every time, but the indoctrinated victim classes keep voting for someone else’s pie until the pie is eaten.
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.
Its sad really. Its a big country blessed with all kinds of natural riches.
But many people there are dumbed-down leftist sheep. And an idiot statist/socialist like Kirchner can garner a lot of support and do a lot of damage.
If you want to know the future of what life will be like in the USA, study Argentina.
its still a relatively rich country, compared to Africa, and no one starves. But the destruction and lost opportunity done in the name of progressivism there is appalling.
Its society, its economics, its politics - everything they have been through shows similar trends here.
We’re next. Watch.
Check your calendar.
This happened in the US in 1971.
” 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.”
Obama’s wet dream.
Yes, they should know this already yet it happens again and again... I’m guessing left wing leaders assume everyone else who tried communism just wasn’t as smart as they are. OR they started to go down that path and found it too emotionally repulsive to admit that it can’t work.
Beat me to it.
Rand was a prophet, unfortunately.
Curious as to why the Stupid Party can't put some ads together highlighting this fact. A good, powerful ad would be juxtaposing the conditions between NK and SK and explaining the differences to the sheeple.
Yes, when you create a upper-middle bureaucratic class that does little to have a nice, lifetime lifestyle on the backs of business, it expands.
Government growth, employee and benefits, makes the entitlement mentality grow.
I've said exactly that since it became clear a few months after the election where Obama is taking the country. An economic Utopia and the Tooth Fairy are much easer for the power brokers to sell to the masses than hard work and personal discipline. Obama is our Juan Peron.
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