Pay attention because Argentina is falling apart

Scandals and a central government out of control?  Too many regulations and a detached president?  An economy that won't get going?  Crony capitalism?  Credit downgrade?

Yes, welcome to Argentina!  

Jaime Daremblum is one of my favorite US-Latin America analysts.  This is how he describes the happenings in Buenos Aires:

"Back in September, Argentines held massive nationwide rallies to protest the autocratic abuses, economic failures, and rampant corruption of President Cristina Kirchner. Two months later, they held even bigger demonstrations. And on April 18, they held their largest protests yet, with roughly two million people marching in cities and towns across the country, including more than one million in Buenos Aires alone.

"I took to the street because we live in a democracy that runs the risk of transforming into authoritarianism," one Argentine university student told Reuters. "This government doesn't want to listen. Every day, we become more like hostages, and somehow we have to make this known."" (Via Fausta)

Some Americans may say:  what's the big deal?  who cares about what happens at the southern tip of the Americas?  Why should Americans care about what The Economist calls "the gaucho blues"?

It matters because Argentina has the 3rd largest GDP in Latin America only behind Brazil and Mexico.  

It would be a problem if there is a debt default or another president decides to distract the public from inflation by invading the Falklands or another round of inflation!

Yes, there is a sound coming from Argentina and it's not tango!

P.S. We discussed Argentina on Wednesday with Soledad Ytuarte of The Buenos Aires, an online newspaper down in Buenos Aires.

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