OilBurner wrote:IIRC, they stopped the mass withdrawal of cash to prevent the banks crashing during rapid devaluation of the peso.
This was an emergency law known as "corralito" or "little fence".
So, in the event of economic meltdown in the US, what's to stop the US gov employing a similar tactic?
Let them eat cake, as it were?
There was starving... guess where? Not in the city, but in the land!
There was starving... guess where? Not in the city, but in the land!
SamIAm wrote:Yea, what went wrong that turned Argentina from one of the wealthiest countries in the world to a hell hole was socialism, the preferred form of salvery for many of you advocates of government solutions on this site.
During the "dirty war" of the 1970s, military rulers arrested tens of thousands of people, 15,000 of whom never resurfaced. And when then-President Carlos Menem touted New Capitalism in the 1990s, the rich got richer -- many illegally -- while the poor got poorer.
DomusAlbion wrote:It took Argentina some fifty years to get to this state. After WW II the country was rather wealthy. Lots of things went very wrong.
k_semler wrote:More on Argentinan Collapse
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