Posted on 01/11/2010 3:28:16 AM PST by brucek43
*
Listen to Coach every Tuesday at 8:30 AM Eastern Time. The Wakeup Call, with Ken Walsh. WFTW 1260 AM from Fort Walton Beach, Florida. WFTW listen live. Ken Walsh is a retired Air Force Jag Officer.
Every Wednesday at 8:30 AM Eastern Time. The Captain’s America with Matt Bruce. WSRQ 1220 AM from Sarasota Florida. The Captain’s America Matt Bruce is a Viet Nam veteran who is a retired Fire Rescue Captain.
Real Americans will love the give and take on both of these shows. They’re both Coach Approved and two thumbs up.
At the start of the twentieth century Argentina was among the wealthiest countries in the world. It’s farm burst with produce and its countryside was covered with telephones and cars and railroads. Argentine beef fed much of South America. Nevertheless, in 1916 a new president promising “fundamental change” which appealed to the middle class who overlooked the fact that his new party lived up to its name “The Radicals.” He introduced mandatory: pension insurance, health insurance,and low-income housing to “stimulate” the economy. The government took control of Argentina’s economy and new payroll taxes to pay for its adventure. Soon the country’s treasury overflowed, but its entitlement programs grew faster eventually the outlays outpaced intake. By 1946 when Juan Peron became president the Argentines were so lulled to sleep by 30 years of socialism they actually welcomed Peron and his flashy young wife Evita. Peron used the fascism he had learned from Mussolini to turn on “the rich.” Before long “the rich” became what was the middle class and Peron made them a target to be fleeced and destroyed. Government and taxes grew larger and larger as did labor unions. Ignoring reality
(Excerpt) Read more at collinsreport.net ...
Thanks for posting this - I used Argentina’s decay in an earlier thread - but it deserves special attention. Most commonly we refer America’s decent to the fall of the Roman Empire - but 20th century Argentina is a more accurate and frightening comparison for this current American crisis. i.e. the Obama socialists have now claimed that their Nationalized Health Services Bill will add 4 million jobs!! How can paying 4 million new employees to create & keep medical records (for government bureaucrats) save money??
ping for later
Video - Argentina’s Economic Collapse
http://vodpod.com/watch/1258780-argentinas-economic-collapse-full-version
good post...thanks
repeat often
Historical examples such as Argentina, Wiemar Republic, Zimbabwe do offer some parallels and warnings for our current situation.
However, the major difference is that none of the above countries currencies functioned as the reserve currency. Today, all major central banks hold dollars and US debt. The Europeans appear to have problems with increase debt risk (Ireland, Greece) and they will probably mirror the dollar at least to some extent. Britain’s pound is highly leveraged.
Other developing countries such as India, China, Brazil are rightly slowly and carefully divesting or their exposure to USD. Nonetheless, they too will be adversely affected by US monetary and fiscal policy.
So,inflation in the US may be somewhat mitigated by worldwide exposure. The penalty will be a worldwide currency and global governance.
Fleeced and destroyed Government and taxes grew larger and larger as did labor unions. Ignoring reality. Sound like anybody we know?.
Eek.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.