Argentina’s crisis shows the limits of technocracy

IF YOU can’t beat them, join them. That seems to be Mauricio Macri’s response to his crushing defeat in presidential primary elections on August 11th. He won 32% of the vote against the 48% secured by the Peronist slate of Alberto Fernández and Cristina Fernández , a populist former president. At first Mr Macri blamed the outcome on the voters for “believing that returning to the past is an alternative”, a scolding for which he later apologised.

Many had high hopes for Mr Macri, a former businessman turned successful mayor of Buenos Aires. After years of economic debauchery under Ms Fernández, he promised that Argentina would rejoin the world as a normal country. He appointed a team of brilliant technocrats. So what went wrong? That alarm was partly because of the rise in interest rates in the United States. A severe drought also cut Argentina’s farm exports, driving up its current account-deficit. But the main blow was self-inflicted: the government’s decision in December 2017 to loosen its own inflation targets, which undermined the credibility of the central bank.

Painfully clueless article, all throughout, and the last paragraph exposes a total ignorance of the play and characters.

how stupid are the comunists

Viva el pueblo!

The first trickle down burn down. Heritage Plantation Foundation. Swamp Rat Economics.!..

Focus on economic solutions and people either get deadly depressed at a decade of solution focus to return to prosperity, or they avoid the hard issues with soft racism, immigration paranoia and attacks on minorities...is how electorates choose the easy way to continuum recession

Just invade us and end our suffering.

stenoedman

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