Anger turns to gloom in Argentina

Boston Globe ^ | March 31, 2002 | David Abel

[sarcasm]

UENOS AIRES - Three months ago, the shattered glass of bank windows littered the city's streets, graffiti screamed from seemingly every corner for the overthrow of the nation's politicians, and daily looting, rioting, and marches led to bloodshed, with one outpouring of fury leaving 27 dead in front of the president's pink palace.

[Norwell]

It reads like an Ayn Rand novel, doesn't it.

[sarcasm]

I have a feeling that we are on the same path.

[Dane]

I have a feeling that we are on the same path.

Actually we are not, IMHO. Argentina was ruined by the poulist demagougues the Peron's. They shut off the country from foreign investment and seized assets of foreigners.

The same thing populist's in the US(the biggest proponent of which is Pat Buchanan) demand. If you want to see the devastation of populist economic theories, one only has to look at Argentina.

[tictoc]

A tragedy, and an under-reported story.

I have yet to see an explanation that makes sense why this happened.

[sarcasm]

The United States is now a net debtor nation.

[DB]

Socialism and corruption make it happen. You take from the productive at gunpoint and give it to the nonproductive for votes. Add a little corruption as a catalyst and presto, you get Argentina…

[tictoc]

Socialism and corruption make it happen. You take from the productive at gunpoint and give it to the nonproductive for votes.

DB, you'll get no argument from me there.

But that can't be the only explanation for the catastrophic collapse that Argentina is undergoing. What about their neighbor Brazil, for example? They seem to be doing a lot better. I remember reading an editorial in the Wall Street Journal that said Argentina's mistake was that it stuck too long with the policies prescribed to it by the IMF.

[marktwain]

This is mostly about people believing you can get something for nothing. Argentina has lived beyond its means for decades. They borrowed money to buy votes. Eventually the debt came due.

It appears that this is the classic case of a democracy...the people finding that they have the power to vote themselves largess, only in this case, despite extremely high taxes and restrictive work rules, the problem was exacerbted by borrowing 140 billion dollars that you refuse to repay.

Now, because of the stupid socialist indoctrination, they are willing to blame anyone but themselves, and they have their hand out, not only whining for more, but claiming a moral imperative not to pay what they owe.

[Brilliant]

Better learn some lessons from this. Our social security and medicare strategy is much like the entitlement strategy that got Argentina into this mess.

[lucysmom]

"I have a feeling that we are on the same path."

Just what I was thinking.

[lucysmom]

"Socialism and corruption make it happen."

Actually its more like privatization and corruption.

[Edmund Burke]

Perhaps they should give up their independence and ask Spain to retake the reins of government. They are obvioulsy incapable of governing themselves.

[Leisler]

Corruption is a constant. In a private market system, the greedy, ignorent, lazy and stupid fall for corruption. In socialized centralized states it is easier to grab the cash wholesale then do millions of small retail transactions. When a centralized, corrupt system goes private, the corrupt stay in power, use the still existing state power, and grab the new cash. Not being stupid, lazy or greedy, I can avoid the private market thieves in our country, unless they are hooked up to their town, state and federal friends. Naturally they wouldn't have the political power if people hadn't surrendered, sold, or traded their liberities to them for some welfare, social security, land use zoning, medicade, medicare, railroad pensions, etc.

So, how's the milk?

[Free the USA]

Check the Bump List folders for articles related to and descriptions of the above topic(s) or for other topics of interest.

[sneakypete]

They shut off the country from foreign investment and seized assets of foreigners.

Maybe they did this in the 30's,but it's perfectly legal for you to go there and buy property today. George Soros owns a LOT of land there,and people like Sly Stallone have bought huge estates there in the last few years. It's long been my contention that Argentina is where the elites of the world plan on flying their families to sit out any revolution they bring about in their own countries.

[lucysmom]

"Corruption is a constant. In a private market system, the greedy, ignorent, lazy and stupid fall for corruption. In socialized centralized states it is easier to grab the cash wholesale then do millions of small retail transactions. When a centralized, corrupt system goes private, the corrupt stay in power, use the still existing state power, and grab the new cash. Not being stupid, lazy or greedy, I can avoid the private market thieves in our country, unless they are hooked up to their town, state and federal friends. Naturally they wouldn't have the political power if people hadn't surrendered, sold, or traded their liberities to them for some welfare, social security, land use zoning, medicade, medicare, railroad pensions, etc."

We are in agreement that "corruption is a constant", however we agree on little else after that. How much did we, the tax payers (perhaps you don't pay taxes) end up paying for the S&L debacle? What about Enron? Its a financial scandal that will end up costing tax payer money before its over. What about large companies that sell the government defective products or overcharge? (They are caught and fined often enough however it must be profitable or it wouldn't continue). Those are my tax dollars they are stealing. Seems to me that corruption impacts all of us and in a big way.

The corrupt have political power because they buy it. They buy it here in the U.S. and they buy it in socialists governments. I guess you can escape the corrupt if you live as a hermit.

[metesky]

Don't forget Ted Turner. In fact before their heartbreaking separation (/sarcasm) Jane made a remark to the Argentine press about sitting out the revolution in safety down there.

[happygrl]

It's long been my contention that Argentina is where the elites of the world plan on flying their families to sit out any revolution they bring about in their own countries.

Yes, I agree with you. Argentina is an underpopulated country, with rich farmland, temperate climate, and a population of Europrean descent. Buenos Aires was, during the early part of the 20th Century, considered the Paris of this hemisphere.

[PGalt]

Thanks for the post...been wondering what's going on there.