Life in the socialist paradise - don't cry for me Argentina
When some mastermind imposes a top-down statist ideology, the capitalists bolt.
From
Bloomberg:
Argentine Growth Halts as Fernandez Tightens Controls
Argentine President Cristina Fernandez de Kirchner�s efforts to stem capital outflows and extend her control over South America�s second-largest economy has brought growth to a standstill.
Gross domestic product was unchanged in the second quarter from a year earlier and shrank 0.8 percent from the first quarter, the national statistics agency reported today. Economists had forecast year-on-year growth of 0.5 percent, according to the median estimate of 10 economists surveyed by Bloomberg. This was the first time GDP hasn�t grown annually since a 0.3 percent contraction in the third quarter of 2009.
�The government�s policies have halted growth because they led to lack of confidence and of investments,� said Walter Molano, head of sovereign research for emerging markets at BCP Securities in Greenwich, Connecticut, an investment bank that focuses on developing nations. �Argentina could have easily continued growing 7 percent or 8 percent for years.�
Will these morons ever learn?
Posted by DaveH at September 22, 2012 1:11 PM