Economists Quake as Argentina Votes

WSJ ^ | October 22, 2011 | MATT MOFFETT

[Brilliant]

BUENOS AIRES—As Cristina Kirchner heads for an expected landslide re-election in Sunday's presidential voting, few Argentines are resting more uneasily than 12 economic consultants who face sanctions from her government for contradicting its calculation of the inflation rate.

In a bitter showdown, the 12 consultants are fending off government investigations, accompanied in most cases with fines of 500,000 pesos ($119,000) under an obscure consumer-protection statute called the "commercial loyalty law." Three of the most outspoken consultants have been singled out for additional criminal charges under a financial-speculation law. Their offense, in the eyes of the government, is insisting in press ...

[Brilliant]

Sorry folks, you need a password to read the whole article. But I thought it was an interesting example of what we can expect from socialism.

[Travis McGee]

Argentina ping.

[KarlInOhio]

The article says the government reported inflation rate is 9.9% while the estimates are two to three times that. Even the unions aren't using the official rates in their wage negotiations.

Kind of hard to hide a 20-30% annual inflation rate.

[blam]

The U.S. Is Headed For Revolution, As Debt Slaves Whisper Treason

[the invisib1e hand]

Christina Kircher's Disastrous First Year As President

Guilty.

[nascarnation]

Not bad for 58. Probably in the upper quartile.

[the invisib1e hand]

Not bad for 58. Probably in the upper quartile.

For gawdsakes man! She's Guilty!

[the invisib1e hand]

she must have the Jets put on her eyeliner for her.

[the invisib1e hand]

[Beagle8U]

The NY Jets?

[raybbr]

Sorry folks, you need a password to read the whole article. But I thought it was an interesting example of what we can expect from socialism.

Unfortunately this only works on Google.

Copy the title of the article into the Google search bar and "enter". The first result will probably be the WSJ link. Click on it and you should be able to read the story.

Don't know why this works on Google but it does.

[TheOldLady]

Click the Pic               Thank you, JoeProBono

Harriet’s Stunning Wedding Photo

Follow the Exciting Adventures of Gary the Snail!

Abolish FReepathons
Go Monthly

If you sign up
A sponsor will donate $10

[The Great RJ]

This socialist will take Argentina down the same path to hyperinflation the Argentinians suffered in he 1980s. You would think people would learn.

[Brilliant]

Dang... You’re right. Another tidbit from the article:

“Graciela Bevacqua, who oversaw the government’s inflation index before getting forced out in early 2007 by Mrs. Kirchner’s late husband and predecessor, Néstor, nearly comes to tears when she talks about the strains caused by the criminal charges and other government legal actions. She said at her low point she had to be medicated for depression.

Ms. Bevacqua, who is a mathematician rather than an economist, has had to look outside Argentina to find consulting work, she says, because prospective employers have felt pressure not to hire her. The government’s Internal Commerce Secretary, which has been heading the actions against the consultants, didn’t return phone calls.”

[Lorianne]

You can read it one time.
If you try to go back to the article, you can’t access the whole thing again.

That is my experience with WSJ ... so they must somehow track your isp

[The Duke]

It's pretty bad when you're only credential for office is that your husband had the office before you. Even Hillary knew she had to build some credentials of her own.

The most capitalist nation I see in this world seems to be poor little Honduras.

[whitedog57]

From Zero Hedge. Our own Argentina moment:

“1987 Was Last Year When Wages Exceeded Inflation (Social Security Payroll Data) - And It’s Getting Worse!”

When real wages are collapsing, we will hit a brick wall.

http://confoundedinterest.wordpress.com/