DON’T CRY FOR ME, AMERICA

41 comments

Posted on 24th April 2014 by Stucky in Economy

, ,

Jumping around the net …. just found this. So many similarities between Argentina back then and the USSA today.

===================================================

Don’t Cry For Me, America

In the early 20th century, Argentina was one of the richest countries in the world. While Great Britain’s maritime power and its far-flung empire had propelled it to a dominant position among the world’s industrialized nations, only the United States challenged Argentina for the position of the world’s second-most powerful economy.

 

It was blessed with abundant agriculture, vast swaths of rich farmland laced with navigable rivers and an accessible port system. Its level of industrialization was higher than many European countries: railroads, automobiles and telephones were commonplace.

 

In 1916, a new president was elected. Hipólito Irigoyen had formed a party called The Radicals under the banner of “fundamental change” with an appeal to the middle class.

 

Among Irigoyen’s changes: mandatory pension insurance, mandatory health insurance, and support for low-income housing construction to stimulate the economy. Put simply, the state assumed economic control of a vast swath of the country’s operations and began assessing new payroll taxes to fund its efforts.

 

With an increasing flow of funds into these entitlement programs, the government’s payouts soon became overly generous. Before long its outlays surpassed the value of the taxpayers’ contributions. Put simply, it quickly became under-funded, much like the United States’ Social Security and Medicare programs.

 

The death knell for the Argentine economy, however, came with the election of Juan Perón. Perón had a fascist and corporatist upbringing; he and his charismatic wife aimed their populist rhetoric at the nation’s rich.

 

This targeted group “swiftly expanded to cover most of the propertied middle classes, who became an enemy to be defeated and humiliated.”

 

Under Perón, the size of government bureaucracies exploded through massive programs of social spending and by encouraging the growth of labor unions.

 

High taxes and economic mismanagement took their inevitable toll even after Perón had been driven from office. But his populist rhetoric and “contempt for economic realities” lived on. Argentina’s federal government continued to spend far beyond its means.

 

Hyperinflation exploded in 1989, the final stage of a process characterized by “industrial protectionism, redistribution of income based on increased wages, and growing state intervention in the economy…”

 

The Argentinian government’s practice of printing money to pay off its public debts had crushed the economy. Inflation hit 3000%, reminiscent of the Weimar Republic. Food riots were rampant; stores were looted; the country descended into chaos.

 

And by 1994, Argentina’s public pensions — the equivalent of Social Security — had imploded. The payroll tax had increased from 5% to 26%, but it wasn’t enough. In addition, Argentina had implemented a value-added tax (VAT), new income taxes, a personal tax on wealth, and additional revenues based upon the sale of public enterprises. These crushed the private sector, further damaging the economy.

 

A government-controlled “privatization” effort to rescue seniors’ pensions was attempted. But, by 2001, those funds had also been raided by the government, the monies replaced by Argentina’s defaulted government bonds

 

By 2002, “…government fiscal irresponsibility… induced a national economic crisis as severe as America’s Great Depression.”

 

In 1902 Argentina was one of the world’s richest countries. Little more than a hundred years later, it is poverty-stricken, struggling to meet its debt obligations amidst a drought.

 

We’ve seen this movie before. The Democrats’ populist plans can’t possibly work, because government bankrupts everything it touches. History teaches us that ObamaCare and unfunded entitlement programs will be utter, complete disasters. Our government is enslaving future generations to poverty and misery. And they will be long gone when it all implodes. They will be as cold and dead as Juan Perón when the piper must ultimately be paid.

 

http://directorblue.blogspot.com/2009/11/dont-cry-for-me-america.html

41 Comments
  1. harry p. says:

    Good find, thanks stucky

    24th April 2014 at 3:46 pm

  2. bb says:

    …….his populist rhetoric and contempt for economic realities…..sounds just like our so called leaders.These people know what they are doing and what the consequences will be.They are traitors and I hope one day they are all hanged starting with Obama.

    24th April 2014 at 6:03 pm

  3. Punk in Drublic says:

    Nice post, Stuck.
    I wouldn’t lay the blame on Democrats only, Republicans aren’t exactly thrifty spenders. And you can see how eager they are to curb our entitlement spending when they call the medicare cuts in Obamacare “rationing” and the group that advises the cuts “death panels”.

    24th April 2014 at 6:10 pm

  4. Anonymous says:

    “In the early 20th century, Argentina was one of the richest countries in the worldonly the United States challenged Argentina for the position of the world’s second-most powerful economy.”

    what kind of shit are you smoking?
    give us stats like gold reserves, coal production, steel production, railways, energy, foods, ect…
    a fast growing country maybe

    24th April 2014 at 6:50 pm

  5. David Evans says:

    What do we have to do to get this to the main stream media. Everything in her is true. I had a good friend that was heavily invested in Argentina in the 70s. He lost everything, or, I should say the government stole it from him. Exactly the same thing is happening in the USA. If the government promises something for nothing you will pay for it with your life and your childrens lives.

    24th April 2014 at 6:54 pm

  6. AWD says:

    “The American government’s practice of printing money to pay off its public debts had crushed the economy. Inflation hit 3000%, reminiscent of the Weimar Republic. Food riots were rampant; stores were looted; the country descended into chaos.”

    Socialism always ends the same way. I don’t know how we’ve lasted as long as we have. Oh yea, we have reserve currency status, and the petrodollar. All the people the NSA is spying on don’t like it too much. The Russians and Chinese are sick and tired of holding our IOU’s. They were dumb enough to give us oil and baubles in exchange for the IOU’s. Americans aren’t going to like “food riots” very much, and especially when the buffets and McShits close down. How can an entire nation (the USSA) be so stupid, so clueless and so greedy? How can people follow Obama and the Fed and the banksters as they destroy our country? Pretty amazing, and people don’t think it’s going to happen here. They’ve guaranteed it will happen here. Their history will be our present. Nobody ever learns.

    Good post, Stuck.

    24th April 2014 at 7:07 pm

  7. archie says:

    i enjoyed the post stucky. thanks.

    24th April 2014 at 7:15 pm

  8. Zarathustra says:

    “It was blessed with abundant agriculture, vast swaths of rich farmland laced with navigable rivers and an accessible port system. Its level of industrialization was higher than many European countries: railroads, automobiles and telephones were commonplace.”
    ——————————————————-
    Ok, I have to call bullshit on this. I took an econ history course in college and I remember reading about the very thing Stucky posts about, although I recall Argentina being a top 5 economy, not second to Britain, but at any rate, in Europe the Germans, French, Italians and who knows who else built their own cars, and railroad locomotives. I double dog dare you to name a single Argentine manufacturer of automobiles (that isn’t a licensee of some european company or merely an assembly plant). If Argentina was such an industrial powerhouse, then why isn’t there even ONE PRODUCT from that era or afterwards that is indigenous to Argentina?

    Go ahead and wiki the fuck out of yall. I bet right here and now that “famous Argentine industrial product brand names” is an even smaller book than “Famous French Victories in War” or “Famous Italian Admirals.”

    24th April 2014 at 8:06 pm

  9. FortuneSeek3rz says:

    Educational, thanks.

    24th April 2014 at 8:12 pm

  10. nof says:

    Coming soon!

    24th April 2014 at 8:29 pm

  11. AWD says:

    The U.S. only has one asset of any value whatsoever: Gold, and we’re rigging the price of gold (to support our monopoly money fiat dollars). China is getting our last assets….then it’s game over….

    U.S. Exports A Record Amount Of Gold To Hong Kong In January
    Submitted by Tyler Durden on 04/24/2014 – 20:03

    The figures are out and it looks like the United States exported a record amount of gold to Hong Kong in January. Not only is this 3 times more gold exported than January 2013 (17 mt), it was 84% more gold than the record month set in August (31 mt). As we can see, gold bullion is fleeing the U.S. and heading to the East. Again… that 57 mt figure is just gold bullion. As the West continues to play games with Monopoly money and Derivatives manufacturing, the East accumulates as much gold as it possibly can. While Main Stream Media and its Banker cohorts release bearish $1,050 price targets for gold, the Asians and Indians smile as they build the largest amount of gold stocks in the world.

    24th April 2014 at 8:54 pm

  12. Stucky says:

    I did NOT write the article.

    So, I also disagree with the author’s stance that only (mostly?) Democrats are to blame.

    Regarding Argentina not being rich at one time. You two posters need to learn how to do internet searches.

    “Argentina possesses definite comparative advantages in agriculture, as the country is endowed with a vast amount of highly fertile land. Between 1860 and 1930, exploitation of the rich land of the pampas strongly pushed economic growth.[ During the first three decades of the 20th century, Argentina outgrew Canada and Australia in population, total income, and per capita income. By 1913, Argentina was the world’s 10th wealthiest nation per capita. In 1910 Argentina’s GDP was 80% that of the USA. As recently as 1965 Argentina’s GDP per capita was higher than Japan’s.”
    ——— http://en.wikipedia.org/wiki/Economic_history_of_Argentina

    Whether 3’rd or 10th you miss the point. Argentina was once wealthy …. until government destroyed it.

    24th April 2014 at 8:56 pm

  13. Zarathustra says:

    Stucky says:

    In 1910 Argentina’s GDP was 80% that of the USA. As recently as 1965 Argentina’s GDP per capita was higher than Japan’s.”
    ——— http://en.wikipedia.org/wiki/Economic_history_of_Argentina
    _____________________________________________

    Key word, Agricultural. Japan had their own indigenous steel, automobile, aircraft and a shitload of other products, all of their own design by the early 1920’s. Despite being nuked and nearly bombed to oblivion, the world today is awash with Japanese products from Japanese companies that came up with their own shit by themselves.

    Argentina? *sound of crickets*

    24th April 2014 at 9:10 pm

  14. El Coyote says:

    Zarathustra says:

    “in Europe the Germans, French, Italians and who knows who else built their own cars, and railroad locomotives.”

    Stuck is comparing the trajectory of two agricultural economies before and after the game-changing world-wide depression but Anon and Z-man want to argue about which country built more cars and computers. There was a time when Hitler scoffed at the USA for being a country that could only make fridges and washing machines. Those who do not know history are doomed to repeat MSM drivel.

    I am reminded of a woman who was out hanging clothes on a clothesline, her kids in nothing but underwear playing on the bare yard of their Thousand Oaks shanty. She had tucked a lottery ticket in her apron pocket and later learned that she had won $80 Million. I told my wife, when they grow up, those kids will forever deny they ever played in their bare feet in the dirt. I hope they still have that money.

    24th April 2014 at 9:12 pm

  15. AWD says:

    Stuck

    Your post was excellent…

    Never mind Z and his rant. He’s pissed ’cause billy gave him an ass-reaming today…

    24th April 2014 at 9:12 pm

  16. Zarathustra says:

    AWD says:

    Stuck

    Your post was excellent…

    Never mind Z and his rant. He’s pissed ’cause billy gave him an ass-reaming today…
    ______________________________________

    That’s ridiculous. Billy wouldn’t recognize a neo-con if it climbed up his ass and excited his g spot.

    24th April 2014 at 9:18 pm

  17. AWD says:

    Stuck is the usual arbiter of shit-fests, but I’m no slouch. Billy handed Z his ass on a platter, it wasn’t even a contest. Accept your beating with humility, or it will continue.

    24th April 2014 at 9:22 pm

  18. Zarathustra says:

    AWD says:

    Stuck is the usual arbiter of shit-fests, but I’m no slouch. Billy handed Z his ass on a platter, it wasn’t even a contest. Accept your beating with humility, or it will continue.
    ___________________________________

    Puhleeze, it’s not even a contest. Billy has no idea who he’s dealing with. Is this a “libertarian” blog or what? I would love nothing else (if I have time), to destroy the “tea party.” I would start with Palin being a frankenstein creation of the odious Bill Kristol. Do you people know anything or what?

    24th April 2014 at 9:35 pm

  19. Zarathustra says:

    Palin_Tea.jpg

    24th April 2014 at 10:11 pm

  20. SSS says:

    Sheesh. Much ado about nothing.

    Argentina was in fact a “wealthy” nation at the turn of the 20th Century. In terms of income per capita. So was Chile. All mainly based on agriculture and trade. That’s just about it. Better wealth distribution? Uh, no. A growing and educated middle class? Not so much. How in the fuck do you think Juan Peron came to power and his Peronistas remain a strong force today.

    Pffft. No parallels to learn here. Zero. Let’s move on.

    24th April 2014 at 11:24 pm

  21. Llpoh says:

    Z says Japan had indigenous steel. Hey Z, check out Japan’s iron ore situation and get back to us.

    25th April 2014 at 1:04 am

  22. Llpoh says:

    The first mass produced steel manufacturing in Japan was set up in 1907 by – gasp – the fucking British. So much for indigenous Japanese steelmaking. And in WW2, guess where they got there ore? Hmmm. Anyone ever wondered why they attacked westward?

    25th April 2014 at 1:17 am

  23. El Coyote says:

    Zarathustra says:

    “Despite being nuked and nearly bombed to oblivion, the world today is awash with Japanese products from Japanese companies that came up with their own shit by themselves.”

    I guess Edwards Deming doesn’t warrant any credit in your book.

    25th April 2014 at 1:19 am

  24. Joe says:

    Tell that to the loser twat, Harry Reid.

    25th April 2014 at 2:58 am

  25. Punk in Drublic says:

    Well, not a direct response to my post, so the silent treatment is still on. But an acknowledgement that I posted something, and an agreement with what I wrote.

    That’s mighty white of you, Stucky.

    25th April 2014 at 9:01 am

  26. Stucky says:

    Punk In Drublic

    No silent treatment.

    While I don’t always agree with you …. you are a FINE poster, an ASSET to this site, and it’s GOOD to see you here.

    Herr StuchenWhiteBoy

    25th April 2014 at 9:17 am

  27. Punk in Drublic says:

    I’m an asset to the site, am I? That’s a far cry from losing all respect for me a little more than a month ago. You sure you don’t want to tone it down a bit? Dial it back a little to “everyone gets a second chance”? Even I would hesitate to call myself an asset to The Burning Platform.

    If I didn’t know any better I would say your’re kissing my ass to make up for harsh judgments before. But Stucky isn’t the ass kissing type, so what gives?

    25th April 2014 at 5:40 pm

  28. Llpoh says:

    Punk – I have said you are an asset, and am glad you are back. II would not lie about that stuff.

    25th April 2014 at 6:13 pm

  29. Punk in Drublic says:

    Thanks, LLPOH. Really.

    My gilfriend and I split up a few weeks ago. I’ve been hold up in my house playing call of duty, which is a testament to how depressed I am.

    Maybe I need to stop dating liberals.

    25th April 2014 at 7:10 pm

  30. Stucky says:

    Punk

    I don’t kiss ass.

    I also don’t hold grudges forever. I am Stucky The Peacemaker. While this site gets thousands of readers per month, the “regulars” only number around 50 or so. We are a small family.

    If I held a grudge against everyone who offended me, or pissed me off, I would hate almost all of you, including Admin. And I’ve pissed off and offended many … without your forgiveness, I wouldn’t have a single ally here. So, it works both ways.

    The only person I probably can never make peace with is Nonanonymous. We are mortal enemies. Mostly because HE is a maroon.

    25th April 2014 at 7:49 pm

  31. El Coyote says:

    Punk in Drublic says:

    “I’m an asset to the site, am I? That’s a far cry from losing all respect for me a little more than a month ago.”

    Stucky lost all kinds of respect for LLPOH when he went after Clammy for tax evasion. Doesn’t mean he won’t talk to you on another post.

    Cheer up, Punk, the chick will have to come a begging. Where else is she going to get the cooder rooter, cunt-splitting white snake? We can kick Billy’s ass around while you wait.

    25th April 2014 at 8:43 pm

  32. Punk in Drublic says:

    My mouth gets me into trouble sometimes, too. A while back I had the following exchange with my girlfriend.
    Her: Hey, you never noticed my new hair clip.
    Me: Well I guess you don’t show me the back of your head often enough… Oh there it is.

    She didn’t appreciate my sense of humor.

    25th April 2014 at 8:51 pm

  33. Zarathustra says:

    Punk in Drublic says:

    “I’m an asset to the site, am I? That’s a far cry from losing all respect for me a little more than a month ago.”
    _______________________________

    Llpoh is the self-appointed arbiter of who is an asset to this site. I was on his shit-list once, but then I got removed from it. I’m still not sure how.

    25th April 2014 at 9:14 pm

  34. El Coyote says:

    Zarathustra says:

    “Llpoh is the self-appointed arbiter of who is an asset to this site. I was on his shit-list once, but then I got removed from it. I’m still not sure how.”

    No mystery really. Stucky may be the ref but LLPOH is the guy outside next to the velvet rope. SSS is the gumshoe in the joint. And just as SAH claimed, ladies get in free.

    25th April 2014 at 9:42 pm

  35. Rick Caird says:

    Bad government can quickly destroy a country. We have bad government. That is why Canada’s middle class is doing better than the US middle class. The have better government.

    We have also created an oligarchy. We have a consortium of politicians an the rich who are dedicated to running this country. They provide bread and circuses to the underclass to keep them quiet. They ignore the middle class. This is all reminiscent of the fall of the Roman Empire.

    25th April 2014 at 10:14 pm

  36. Horacio says:

    Hola todos, soy Argentino y fanático de la historia! como argentino me siento honrado de ver como extranjeros analizan mi historia, mi país. Debo aclararles que lo expuesto es realmente pobre, carece de tiempos y esta versionado, trato de aclararles.
    1- Argentina fue colonia económica inglesa desde su independencia hasta Peron. teníamos una economía muy fuerte pero solo en manos de representantes de la corona inglesa, el pueblo moría de hambre y era explotado laboral mente
    2- Peron fue elegido por el pueblo (los explotados) en democracia, lucho contra los representantes de inglaterra en el pais (la clase acomodada que nombras tu) generando la verdadera independencia.
    3- ME LLAMA PODEROSAMENTE LA ATENCIÓN QUE NO HAYAS NOMBRADO TODAS LAS DICTADURAS INSTAURADAS POR USA A TRAVÉS DE LAS FUERZAS ARMADAS Y PODER ECONÓMICO, con el fin de saquear las riquezas y empobreciendo al pueblo.
    4 – después de Peron fuimos colonia de USA
    5- USA coordino el plan Cóndor y participo en la desaparición de 30.000 ciudadanos para mantener su poder dentro del país.
    6 vuelve la democracia en el 83, USA operan contra la argentina en todos los foros económicos al ver que el Presidente Alfonsin intenta independizar al `país para ser un nación soberana e independiente.
    7 -USA y el FMI operaron para voltear a Alfonsin, golpeando la economía de manera brutal
    8 -logro el cometido e instauro a un gerente que solo le faltaba ser parte de la familia Bush, Menem saqueo la nación y toda la riqueza fue a parar a USA y Europa hasta que ya no había mas que robar.
    9- 5 presidentes en una semana. el país en quiebra, la gente con hambre en un país que produce alimentos para 400 millones y somos hoy solo 40 millones.
    10- gana elecciones Nestor Kirchner,independiza el país, y hace crecer la economía al 9% anual durante 10 años, incluyendo a millones de personas, llevando el desempleo a 8% hoy el hambre esta prácticamente erradicado, queda bastante por hacer pero sin dudas es el mejor momento de nuestra historia.
    Espero que les sea útil la información.
    saludos!

    9th June 2014 at 8:51 am

  37. Stucky says:

    Hey El Coyote, el Beaner extraordinaire, … what’s Horatio sayin’?

    9th June 2014 at 8:57 am

  38. Horacio says:

    La foto de Sara Palin claramente no es la bandera Argentina, hay en Latinoamerica varias banderas parecidas a la de Argentina dado que EL Almirante Brown libero a estos pueblos de la flota naval de los Españoles y el llevaba la bandera Argentina y estas naciones liberadas copiaron la bandera haciendo algunas variaciones. incluso llego a California y desplazo la flota española e hizo flamear la bandera durante 14 dias luego entrega la ciudad a los independentistas.

    9th June 2014 at 8:59 am

  39. Horacio says:

    Hello everyone, I am Argentine and history buff! Argentine as I am honored to see how foreign discussed my history, my country. I must clarify that the above is really poor, no time and this versioning, try to clarify.
    1 – Argentina was British economic colony since independence to Peron. had a very strong economy but only in the hands of representatives of the English Crown, the people starved and was exploited labor mind
    2 – Peron was elected by the people (the exploited) in democracy, representatives fought against England in the country (the gentry to name your) generating true independence.
    3 – very striking ME YOU HAVE NO NAMED ALL DICTATORSHIPS introduced by USA THROUGH THE MILITARY AND ECONOMIC POWER, in order to plunder the riches and impoverishing the people.
    4 – after Peron went colony USA
    5 – USA coordinated the Condor plan and participate in the disappearance of 30,000 citizens to maintain their power within the country.
    Democracy back June 83, USA against Argentina operate in all economic forums to see that President Alfonsin tries to wean the country `to be a sovereign and independent nation.
    7-USA and the IMF operated to flip Alfonsin, hitting the economy so brutal
    8-achievement and the role I restore a manager who lacked only be part of the Bush family, Menem looting the nation and all the wealth went to USA and Europe until there was no more to steal.
    9-5 presidents in one week. the country bankrupt, hungry people in a country that produces food for 400 million and are today only 40 million.
    10 – Nestor Kirchner wins elections, independent country, and the economy grows at 9% for 10 years, including millions of people, bringing unemployment to 8% today is practically eradicated hunger, remains to be done but certainly It is the best time in our history.
    I hope you find it useful information.
    Greetings!
    Traductor de Google para empresas:Google Translator ToolkitTraductor de sitios webGlobal Market Finder

    9th June 2014 at 9:00 am

  40. Horacio says:

    The photo of Sarah Palin is clearly not flag Argentina, in Latin America there are several flags similar to that of Argentina since EL Almirante Brown libero these people naval fleet of the Spanish flag and wearing these liberated nations Argentina and copied the flag making some changes. even came to California and I move the Spanish fleet and did fly the flag for 14 days after delivery to the independence city.

    9th June 2014 at 9:02 am

  41. Horacio says:

    9th June 2014 at 9:08 am

Leave a comment

You can add images to your comment by clicking here.