Saturday, November 10, 2012

Krugman's "Success Story": 700,000 Strong Protest in Argentina Against Inflationist Prez


Demonstrators marched against rising inflation, crime and corruption under President Cristina Fernandez de Kirchner, whose popularity has plummeted since she was re-elected last year as the economy wobbles, reports the UK's Standard.

In Buenos Aires, crowds filled the Plaza de Mayo in front of the presidential palace and chanted: “We’re not afraid.”


As I wrote in June: Cry for Argentina (They took Paul Krugman's advice)

14 comments:

  1. Krugman and his followers consistently repeat the mantra that Argentina is the perfect example of keynesianism and inflation working.

    I am sure he will now claim if this is brought up that he didn't really say the things we can find on the NY Times website that he said, sort of like his advocating the Housing Bubble and a number of other things he lies about when asked.

    Krugman has failed yet again.

    ReplyDelete
  2. Until now, Kirchner's distraction has been to bluster about the Falkland Islands. I expect another such statement during the week.

    ReplyDelete
  3. When does this statist get called what he is publicly?
    He won't because 85% of the public has been indoctrinated to think like Keyenes. It's sad, viva la revolution, bring on the good dr. Aka dr Paul.

    ReplyDelete
    Replies
    1. That is definitely not true for the under 30 crowd, and why Krugman is terrified of the future.

      Delete
  4. they did not inflate enough...

    ReplyDelete
  5. This inflation is closing the output gap in Argentina and they no longer have a liquidity trap. Now the animal spirits of consumption will take over. The philips curve also tells us that unemployment by definition must be low. Recession over.

    ReplyDelete
    Replies
    1. A+ on your exam lad. ;)

      Delete
  6. I remember on this very blog some Krugman defenders argued with me that Argentina had been a huge success and proof austrians were wrong about the relationship between money supply and inflation and the effect on the economy.

    lol

    ReplyDelete
  7. Sorry for the bluntness, but idiots you all are! Argentines are rich compared to Americans. Argentines have little or no debt. They own their homes, no mortgages (97%), unlike in the US where less than half own their own homes (the banks do!) They have half the unemployment and half the poverty rates of the US. And the protests prove that Argentines have free speech, something Americans think they have but don't. FYI: Argentines have their elected officials by the balls, and squeeze hard when they want change or them to do something. Americans get nothing but slavery from their elected officials! For the past 10 years, Argentina as a country, has had the greatest increase in GDP in the WORLD (over 8% per annum), the GREATEST reduction of debt in the world per capita (whilst the US has had the greatest INCREASE in debt!), and greatest increase in individual wealth (while Americans have seen a REDUCTION of annual income of $4,000 in just the past 4 years!) And, oh by the way, Argentina is the ONLY country in the world that told the globalists banksters to get out of their country because they ARE the cause of the global economic collapse. ALL the other countries in the world line-up lock step with banksters. "Oh, to be as rich as an Argentine!"

    ReplyDelete
    Replies
    1. So the crowds are celebrating then???

      Delete
    2. Yup - plenty of nations have 70,000 strong marches when things are going well with the economy.

      Delete
    3. Pretty obvious you have never been to Argentina or tried to do business there. Petty theft as well as violent crime (pick pockets, muggings, auto theft) are on the rise. After the restriction on the importation of Blackberries we were told not to use them in the street because people were getting mugged for them and the blackmarket price was well over US$1000. But lets not talk about what I do know. Even the US ExIm Bank, the organ dedicated to using US citizens money to guarantee loans to private industry in all countries all over the world in order to boost exports (see tied aid) is refusing to conduct transactions in Argentina, despite what their website says. How do I know? Because that's what I do. Import restrictions as not a common occurrence, they are the ONLY occurrence. Currency controls prohibit Argentine's from traveling as they have little or no access to foreign currencies, because guess what, outside of Argentina nobody wants their pesos. Furthermore, the Argentine government NEEDS to keep the dollars to fulfill their agreement with the IMF.

      As far as comparative wealth and absolute wealth you are still a moron. While I have no way of speaking to your statistics as you haven't quoted anyone but simply rambled off a bunch of numbers, I can speak from personal experience as I am in Argentina about once every two months. The cars they drive, houses they own, clothes they wear and public services they receive are all well below the standard for the same goods in the US. Why? Specifically because they dont allow free movement of goods, and the cost of goods is higher in Argentina as a result.

      Delete
  8. Krugman and his ilk are confidence men (and women). They are simply along for the ride understanding that people love Santa Claus (debt, money printing), which the just completed U.S. Presidential election clearly demonstrates. Insofar as the U.S., he has lambasted not doing enough Santa Claus maneuvers as to why the 'so called' recovery is tepid at best. Argentina offers yet another lesson as to where many European nations, Japan, and ultimately the U.S. are rapidly heading. Krugman (and his ilk) have cashed in big during this time; if they are wise they have secure locations they will go to (and assets that will be tradable) when the riots hit. Confidence men (and women) are like roaches, they scatter quickly when sunlit reality trumps Santa.

    ReplyDelete