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Just since 2010, Argentinian President Cristina Fernandez has–

Nationalized private pensions, plundering the retirement savings of her people. Increased tax rates across the board– income, VAT, import duties, etc. as well as imposed a new wealth tax. Inflated Argentina’s money supply, printing currency with wanton abandon; M2 money supply has increased 215% in the past three years. Driven the value and purchasing power of the currency down by 50%. Street-level inflation is now 30%+ per year. Made a mockery of official statistics, comically understating the level of Argentine inflation and unemployment. She even began punishing economists for publishing private estimates of inflation that didn’t jive with the government figures. Taken over control of one industry after another, most notably the nationalization of Spanish oil firm YPF’s Argentine assets. Imposed export controls of agriculture products from beef to grains, forcing growers to sell at artificially lower domestic prices. Imposed capital controls, reducing her citizens’ capability to dump their poorly performing currency and hold gold, dollars, euros, or anything else. Imposed a two month ‘price freeze’ on items in the supermarket, and encouraged retail consumers to rat out any grocer that doesn’t abide by the government order. Imposed controls over the media, most recently ordered an advertising ban in Argentine newspapers (weakening their financial position).

Cristina’s policies here are leading to shortages in everything from food to fuel to electricity.

1 posted on 02/12/2013 10:43:29 AM PST by Former MSM Viewer
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To: Former MSM Viewer

But really not guilty!

2 posted on 02/12/2013 10:52:36 AM PST by freedumb2003 (I learned everything I needed to know about racism from Colin Powell)
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