The US is becoming Argentina

Monday, August 8, 2016
By Paul Martin

By: David Nichols
GoldSeek.com
Monday, 8 August 2016

Although many are confused by these markets, there is a simple explanation for every strange thing going on right now: The United States is rapidly devolving into a Third World country.
We’ve got the politicians to prove it. On one side is the classic insider, handing out favors to cronies and corporate big-shots while not-so-secretly covering her tracks and lining her pockets; on the other side is the classic Strongman, full of machismo, bluster, simple sloganeering, and even a trademark hair-do/spray tan combo. Just slap some epaulets and a row of chest medals on Donald’s blazer and he could easily pass for our first Yankee Generalissimo.

But the analogy goes even deeper with monetary policy, debt, and spending. We are swimming in debt and deficits, with no other plan but “even more,” which leads eventually to an Argentina-style default. Actual economic growth is anemic, while the insiders that live in Washington D.C. and environs grow ever richer on fat contracts and sweetheart legislative deals for big corporations, written by an ever-expanding minion army of lawyers and lobbyists. It’s Third World cronyism on a grand scale.

So instead of peering into history to dig out just the right analog, we should instead point our gaze at the Fed’s unintentional (?) financial role model — Argentina.

And here’s where it gets surprising. It’s well-established that the Argentinian economy is terrible. You could search high and low and not find a single favorable article about on-the-ground economic conditions in Argentina.

But look at Argentina’s stock market over the last 5 years.

The Rest…HERE

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