Lessons From Argentina’s Economic Collapse - Esteban Morales
Napsal: 24.12.2010 8:49
Editor’s note: the article that follows is a very sobering account of the effect that the collapse of
the Argentine economy (1999 - 2002) had on its citizens, as seen through the eyes of one of them.
The economic collapse wiped out the middle class and raised the level of poverty to 57.5%.
Central to the collapse was the implementation of neo-liberal policies which enabled the swindle
of billions of dollars by foreign banks and corporations. Many of Argentina’s assets and
resources were shamefully plundered. Its financial system was even used for money laundering
by Citibank, Credit Suisse, and JP Morgan (sound familar?). The net result was massive wealth
transfers and the impoverishment of society which culminated in many deaths due to oppression
and malnutrition. I am not sure the same thing is about to happen here, but I am sure that there
is a distinct possibility that it might. Just food for thought - JSB.
http://www.silverbearcafe.com/private/10.08/tshtf1.html
the Argentine economy (1999 - 2002) had on its citizens, as seen through the eyes of one of them.
The economic collapse wiped out the middle class and raised the level of poverty to 57.5%.
Central to the collapse was the implementation of neo-liberal policies which enabled the swindle
of billions of dollars by foreign banks and corporations. Many of Argentina’s assets and
resources were shamefully plundered. Its financial system was even used for money laundering
by Citibank, Credit Suisse, and JP Morgan (sound familar?). The net result was massive wealth
transfers and the impoverishment of society which culminated in many deaths due to oppression
and malnutrition. I am not sure the same thing is about to happen here, but I am sure that there
is a distinct possibility that it might. Just food for thought - JSB.
http://www.silverbearcafe.com/private/10.08/tshtf1.html