Argentina's Economic Collapse (good, cost, America, buying)

[GodBlesstheUSA]

Very good.


YouTube - Argentina's Economic Collapse - Part 1 of 12

[IndigoLight]

Yes, I've seen it. Very good, informative and thought provoking.

[teachertype]

I've had this piece on the Argentina collapse in my bookmarks for a while:
The Silver Bear Cafe

[Gungnir]

Originally Posted by teachertype

I've had this piece on the Argentina collapse in my bookmarks for a while:
The Silver Bear Cafe

Good read teachertype, I liked that on page 4 he mentioned the agro-exports. Not something that many people know about, that in 2001 it was in 8th position internationally for exports of agricultural products. However people in Argentina were literally starving as the ships left the docks. Just goes to add weight to Amartya Sen's paper on famine and poverty.

The one stand out thing though for me (with ominous clarity) was the discussion of the "4th pyramid" with the middle class dropping into the poor, there's something disturbing about that and the current situation in the US, with falling buying power, increasing taxation, increasing unemployment, all we'd need is increasing interest rates and the stage is set for this to happen with alarming alacrity.

[Northern Maine Land Man]

Increasing unemployment in the middle class is bad, but what is worse is the enormous taxation of the working Americans.

[texdav]

As lo0nhg as taxes a5re ioncreased no matter on who directly it will come back even then as a indirct tax. The rst is all rethoric. The only other way os for the reduction of prodcut cost which 75% involves labor cost.Witht eh expnading world economy that same laboer is less of a factor in increased profits because more and more will come from sales to emerging markets.

[Gottasay]

The sad part is what they are protesting against: austerity measures. What's wrong with austerity measures? It has to happen at some point. I can definitely see that type of large-scale protests and looting happening here too, moreso in the big cities. I guess that's why the gov't keeps renewing unemployment coverage. They don't want to find out.

[Northern Maine Land Man]

They know. Lyndon Johnson's grand society has created a whole underclass of people who have been told they are entitled not to work. It will not be a smooth transition back to a society where people work for what they earn.