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Monday, October 29, 2007


Argentina's first lady Cristina Fernández de Kirchner, who according to most polls will win Sunday's presidential elections, has been repeatedly described as ``Argentina's Hillary Clinton.''
She's not. Read here why she's no "Hillary," and let us know what you think.


Anonymous Anonymous said...

This is a form of establishing a monarchy in the Americas -Argentina, USA, and Nicaragua. The latter created a different style where the president (Ortega) governs equally with his wife (Murillo). Whoever believes the husbands will not be involved with decisions made by their wives, must be living in another planet. What's next? The children or grandchildren of the family also running for president?

9:02 AM  
Anonymous Anonymous said...

Just 2 families have ruled USA the last 18 years... Are we talking about power dinasties?

12:51 PM  
Anonymous Anonymous said...

Cristinita is Evita II like Hillaryta. Here Evita is the bos!!

2:07 PM  
Anonymous Anonymous said...

from: Paul Thørsen

åndèrš, you are correct in that Arhentina always blames the International Monetary Fund for "holding them back" from greatness. I have never heard any Arhentine blame "Anglo" interference for their woes.
The rest of Latin American blames the USA and the "Anglos" for holding them back from greatness, and they want payback.

10:25 PM  
Anonymous Anonymous said...

Paul Thorsen, either say something intelligent rather than stupid attacks or else shove it.

2:15 AM  
Anonymous Anonymous said...

The fact that the good economic situation in Argentina is connected to foreign circumstances just makes another similarity with Hillary. USA economy had a good period during Clinton years only because the fall of the Soviet Union created a temporary vacuum in the world economy that was filled by the US. Nowadays, that market had returned to Europe through the European Union, that is why the economy of the US has slowed down and Europe's has grown dramatically. If Hillary is the President, the future of the US is not more promising that the future of Argentina with Fernandez.

7:53 AM  
Anonymous Anonymous said...

I truly prefer Nestor Kirchner over his wife. She seems a lot more superficial that her husband.

It is true that Argentines blame the IMF for their situation.

Let's be frank. Argentina's dependence on the IMF as one of many ideological experiments originated from the extreme right in the United States.

The IMF enforced policies intended to weaken and shrink the government much like many extreme right republicans dream of.

These policies were forced into the Argentine government regardless of what Argentine voters wanted. In 1990 Argentines wanted a stronger state but their voted candidate did exactly the opposite. Similiar things happened years before when the dictatorship dismantled a very dynamic industry in favor of more imports and more debt.

In 2001, their dream came true and the collapse started. But to the dismay of these extreme right ideologues, instead of keeping the government weak and crippled, Argentina strengthened the state and had a large amount of economic growth.

Now with 23% of poverty Argentina has the highest level of development in the America's according to the UN. (

Mexico and all the other poster child for free market reforms in Latin America are well below.

Also most Asian economies after DECADES of free market reforms still cannot achieve the level of development as Argentina.

So get a reality check people.

1:17 PM  
Blogger Movimiento Argenlibre said...

Gracias por Luchar por Una Republica con Progreso para todos.
La Republica perdio una Batalla pero no la Guerra.

Fuerza Argentino, Los Republicanos estamos de Pie y con el Doble de Energias.

Un Gran Abrazo Republicano.

Gracias por Luchar contra los Korruptos, y por querer una Argentina COn verdadero Progreso para todos.

Movimiento Argenlibre

8:23 PM  
Anonymous Anonymous said...

Wow, it takes all types of loonies out there to argue that the argentinian economy is growing with a state-controlled economy and poor asia is supposedly lagging behind. Hello, reality check, anybody home?

Argentina had a developed, world-class economy in the early 1900's in terms of wealth and resources as well as decent jobs and growth.
By the 1980's and 1990's, it had already lost much thunder, but it really took a hit during the 2000-2003 period when it's tie to the dollar kept it from devaluating to compete with Brazil after Brazil's devaluation. It also spent massively and piled on unsupportable levels of debt. Shrinking export and rising debt, so gues what happened next? Currency crash.
Now Argentina has a catch-up period after its crash so it can fool itself into thinking that it is a stronger economy than tiny little Korea or Indonesia or Taiwan...
It takes all kinds.

10:54 PM  
Anonymous Anonymous said...

Agentina GDP grows because the prices are higher because of international demand. GDP = Prices x production.

Kirchner artificially controlled prices and irresponsible state money expenses are only posible because of the extra money comming from venezuela and the international market...

The truth is that because of the intervention of the market no company is investing any money, factories are losing competitivenes and the growing demand is not being followed by a growing offer.

Argentina is heading to a crash, because they are spending their capital on daily expenses.

1:26 AM  
Anonymous Anonymous said...

The only thing that was world class in Argentina in the 90s was its huge growing debt.

A 50% growth of GDP cannot be explained with just soy prices.
Explaining a 50% GDP growth with Chavez and soy prices is 100% nonsense.

It is proven worldwide that the only way a country can grow out of poverty is with a strong centralized government. There are no exceptions out there in the world.

Argentina is not heading into a crash because debt is shrinking and government budgets are better controlled than any other previous administration regardless of what people say out there. Tell me Andres, if

Somebody says that China's massive purchase of soy is sustaining the economy. That is not true. China accounts for less than 8% of exports (source

Even though soy production is growing, it is becoming a smaller section of the economy because there are a lot of other sectors growing much faster than soy exports.

6:47 AM  
Anonymous Anonymous said...


Infant Mortality Rates:

Malaysia 16.62/1000
China 22/1000
India 35/1000
Argentina 14

Life Expectancy in years
Malaysia 73
China 73
India 69
Argentina 76

Literacy Rate in %
Malaysia 89
China 91
India 61
Argentina 97

Source CIA World Fact Book

Now somebody please throw me a bone in here. Argentina, after nearly 100 years of mismanagement still surpasses these poster boys of capitalism after decades of following whatever IMF told them to do.

I think we can agree that this is not a perfect world no matter what. However, those key figures I mentioned are essential and should be key in every discussion about development.

The UN index of development should also be part of this discussion and Argentina today is way way above most asian economies.

Enough said.

I am not the one who needs a reality check, I can come up with numbers from the most respected sources (UN, CIA, etc) that clearly show that most asian economies are not success stories specially when compared to Argentina.

7:03 AM  
Anonymous Anonymous said...

Degree in economics reality check

Here are some of the stupidest things that were said in the earlier comments:

"...A 50% growth of GDP cannot be explained with just soy prices.
Explaining a 50% GDP growth with Chavez and soy prices is 100% nonsense." [what 50% growth in argentina's gdp, it is bouncing back from a major crisis and devaluation]

"It is proven worldwide that the only way a country can grow out of poverty is with a strong centralized government. There are no exceptions out there in the world." [can you say duh, the limits of communist philosophies continue to shield people's minds from the real world]

also the comment about China's current income per capita being the result of being a poster child for capitalism is pretty stupid, since they had a state-run economy from the 1940's to the 1980's and a billion people, but since switching to a more successful capitalist model their economy has truly taken off and their income has grown tremendously more than Argentina's.

Argentina had to go through crisis in 1998-2002 and now has a small bounce back... but they also have a huge inflationary problem. Argentina and Venezuela have the biggest inflation-plagued economies in latin america, so what do you think will happen to savings and investments, banking activity, and the currency?

They are a classic example of governments inflating their economies for short-term benefits. Once commodities stop rising due to China's rapid expansion (due to their capitalist economic policies), Argentina and Venezuela will no longer be able to run from their problems and brainwash their countrymen into believe that all is well with their economies...

3:14 PM  
Anonymous Anonymous said...

By the way, if you want examples of capitalist countries, why not compare argentina to japan? japan has been capitalist much longer than even china's coast.
you want asian success stories to compare argentina's success? let's at least compare it with south korea, singapore, taiwan, and hong kong.

3:16 PM  
Anonymous Anonymous said...

south korea, singapore, taiwan, and hong kong represent a tiny tini mini minority of the Asian population. They are exception not rules.

And these countries did not succeed because they followed IMF.

They did EXACTLY what Argentina is doing right now to promote growth, devalue their currency and not allow anything but essential imports into their country. Once they became all powerful they are sking countries to do what they say not whay they did.

2:19 PM  
Anonymous Anonymous said...

Do not pretend that Argentiy purposefully devalued its currenty as a growth strategy. Argentina had an unorthodox 1 to 1 tie to the US dollar even though its trade and manufacturing competition could continue to devalue their own national currencies. As Brazil devalued, making its good cheaper on international markets, Argentina could not do the same because of their 1:1 tie to the US dollar. They also had out-of-control spending. The terms of trade and trade balance faced a worsening situation while the government had huge and unfixed debt and spending problems. How could it finance this debt and continue to suffer in manufacturing while keeping its currency fixed? Eventually it was running out of international reserves. It had to devalue, inflation was out of control, and it had to raise interest rates.
The IMF didn't force it's way in,
Argentina needed to borrow its money or suffer even more on its own. The politicians new what they had to do to avoid an even bigger crisis.
The Argentinan politicians also know what they have to do to stay popular now: blame the IMF for giving them their loan in a time of need, suck up to Chavez for his ability and willingness to purchase Argentinian bonds in exchange of their international support, and take credit for the rise in global commodity prices that have been a boon to countries such as Brazil and Argentina where their huge commodities crowd out their own manufacturing facilities (dutch disease) while they fail to pass reforms that would help them become competitive due to the unpopularity of the nescessary reforms.
They are stuck with largely commodity-based economies until they get their own Calderon's in office or to pass reforms democratically using great political skills or to rely on a pro-reform strong government (which they have a pro-reform anything right now).
They're slipping, but they're hoping the high-commodity-price punch bowl doesn't get taken away during their terms in office.

Here's what Asian countries did to become successful: high rates of savings & investments including in capital and people's education, strong pro-technology policies, realizing they had little national wealth relative to other countries they turned to tough economic policies to grow rapidly for expanded periods of time, they opened up to world trade and became export-based economies that added value to good as they had little else to export in terms of resources or wealth.

Don't pretend you have borrowed from an emergency lender that will have to charge you high rates because of something that was their fault. Also don't blame them for your debts.

Here is what Chile did: a military government happened to listen to experts on how to set up a sound economy with sound institutions and sound economic policies with flexible labor markets, low regulatory regime, a savings fund when commodity prices are high that kicks in automatically regardless of the political pressure, the put their money outside the country and developed consistently rathern than bringing it all in when commodity prices are high, they are one of the top educated countries now in latin america and have a good national savings rate due to their policies and have invested n their countries and people.

The Argentinians started off very well in the early 1900's, with all their natural resources, and its people have a good middle class and decent education. However, its economic policies don't compete with Chile's or Asia's. That why Chile, Asia, and a lot of the rest of the world like Eastern Europe is headed up with growing economies that don't rely on commodities while argentina prays for rais and continued high international commodity prices.
They have the Chinese to thank for their growth until they develope better policies. They have high inflation that doesn't allow effective economic activity. Devaluing your currency isn't an economic policy so much as a way to temporarily provide your manufacturers and exporters a boost (in a way sacrificing the price of your country's assets across the board as a "sale") and bring in foreign investments / purchases / business. Countries thereby put their money in other currencies and purchase their own only on certain occasions. This alone is not enough if your commodity boom ends due to outside forces. What will the Argentines do to calm their out-of-control prices and improve their credibility in maintaining stable prices? Have they increased their use of savings, technology, investments, etc? Are they streamlining their regulatory enviroment and opening up to foreign investments or are they saving enough to invest in themselves? Do they attempt to benefit from trade enough or are they still afraid or unable to deal with the politics of unpopular trade?
Perhaps the new president will be more friendly towards investors and pro-growth policies, but it is not likely to catch up to Chile or Asia anytime soon... it has a long way to go to change its direction and keep up with the competition in the world.

4:41 PM  
Anonymous Anonymous said...

This is what the poster above INTENTIONALLY didnt mention:

Here is what Asian countries ALSO did:
Their growth was strongly fueled by ruthlessly protecting their industry from FAR SUPERIOR imports. That allowed them to eventually become competitive.
Their growth was also fueled (and still is) by violating countless numbers of US and european patents.

And here is what Chile did:
The ony and only one and most important contributor to Chile wealth was........ TO PUT THE ENTIRE COPPER PRODUCTION INTO GOVERNMENT HANDS AND TAKE IT AWAY FROM THE US.

The state owned copper production in Chile is perhaps the most efficiently run large corporation in the world This proves that state owned enterprises can be more efficient private owned corporations.

And the reason the copper industry is state owned is due to a decision from former socialist leader Salvador Allende.

More than 70% of Chile's exports is due to the ever more expensive copper and derivatives.

5:49 PM  
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