Most of our readers know that we are big fans of Argentina because it points the way to the future. What has been happening in Argentina since the 50's is now beginning to happen world-wide, with one difference. We now have a new contestant.
Ladies and gentlemen of the public!
Introducing first: fighting out of the light blue corner, this country has a freestyle socialist / nationalist / kleptocraptic fighting style. It stands 3,650 km tall covering 2,766,890 sq km. It holds a professional mixed screw-up record of 200+ years of financial loses and serial defaults, with 0 wins through free markets. It is the current, reigning, and defending Champion of the Title "County in Permanent State of Economic Debacle". Fighting out of South Latina America: The Republic of..."don't cry for me"...ARGENTINA!
Introducing the contender: fighting out of the dark blue corner, this country has a long history of nationalistic demagogues and dictators switching in modern times to a more communist fighting style. It stands 940 km tall covering 131,957sq km. It holds a professional dictatorship/communist screw-up record of 200+ years of financial loses and economic debacles, with 0 wins through free markets. It is the challenger, upcoming and heavy weight of public debt (175% of GDP). Fighting out of South Europe: The Republic of…"ridiculous growth forecasts"…GREECE!
That's right! Greece is now at the point at which Argentina begun its permanent cycle of economic debacles. This was unavoidable (see Greeces Siren Call and Greece Bites The Dust). Of course, people don't believe us but perhaps now that a "developed" EU country -nonetheless- has entered this cycle we may just begin to gain some credibility. Our detractors will say that Greece is not really a "developed" EU country and that it never was. Fair enough. We also give you Portugal, Spain and Italy. Their turn will come soon enough. And then what? What will be their justification to ignore those countries? That they were on the periphery to begin with? Fair enough, but then what will be the excuse when France finally collapses under their unpayable debt? Bad luck?
Give us a break.
Look, the issue is very, very simple. Communists and communists-light (aka socialists) they spend. They tax, they borrow and they print in order to spend. This process is aided and abetted by democracy which is in turn enabled by the existence of governments. This process produces debt and more debt and then some more. This is so obvious as to be invisible. Its only possible outcome is a spiral into oblivion paused only by short and temporary reprieves.
The only question is; will Greece surpass Argentina in terms of misery or will the champ retain its title? We shall see in the next evolutions of the destructive cycle as both countries battle each other for the privilege to achieve maximum misery. The suspense is killing us (metaphorically speaking), unfortunately a lot of people are going to die (for real).
Do you still believe that communism/socialism works? That it is worthwhile? But wait! Don't answer yet. Wait until you are in the midst of the endless destructive cycle. Then and only then give us your answer. Not before.
Note: please see the Glossary if you are unfamiliar with certain words.
