Argentina: You won’t believe what law the government just passed

Argentina Price Controls
October 14, 2014
Buenos Aires, Argentina

In the pantheon of utter political stupidity in our time, the competition is pretty fierce to see who ranks #1.

But I have to imagine that, even with so many rivals, Argentina’s Cristina Fernandez de Kirchner makes a pretty compelling argument to be the champion.

And though the productive class of Argentina is no stranger to being vilified by a populist government whose grasp on power[...] Click here to continue reading

This is what textbook capital controls look like

Reporting from Buenos Aires, Argentina

Selling snake oil and issuing unbacked paper currency are not so different. They're both wildly successful ploys for the guys pulling the strings. And they're both complete scams that depend solely on the confidence of a willing, ignorant public.

But once the confidence begins to erode, the fraud unravels very, very quickly, and the perpetrators resort to desperate measures in order to keep the party going.
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What’s your breaking point?

You probably know the story of the boiling frog.

The premise is simple.  If a frog is placed in a pot of water that is already boiling, it will immediately sense danger and jump out, relatively unscathed. If it is placed in a pot of cool water, the frog will happily stay in the pot while it is slowly heated to a boil.  By the time the frog realizes the danger, it is too[...] Click here to continue reading

Mailbag: Answering your questions

Greetings-- lots of questions this week so I'm going to jump right into it:

Thanks for the emails and comments from yesterday's Nestmann interview, I'll try to do more things like this... and thanks to Matt for doing such a great job on the interview. The most common question was whether there is a great book like Nestmann's Lifeboat Strategy specifically for Canadians.

We asked Mark, and he said[...] Click here to continue reading

Mailbag: Answering your questions

Today I wanted to get down to the business of answering some of your questions from earlier this week:

First of all, I apologize if I failed to make things clear when I started this letter: I am no longer part of Without Borders; Notes from the Field is not affiliated with Casey Research or Without Borders.  Furthermore, Notes is free and not tied to any other subscription that you might have.

[...] Click here to continue reading

Argentina is still doomed

Argentina is still doomed.

If you don't know Argentine politics well, I'll give you a quick history: the country has vast natural resource wealth and was once one of the richest in the world. It has been serially run by a group of incompetents ever since the Perons first came to power after World War II.  After years of military dictatorship, several revolutions,  and a crippling financial crisis, Argentina has never regained its status[...] Click here to continue reading