Is the United States the Next Argentina?…(Yep!!)
May 23, 2013
Drive the streets of Buenos Aires, and you will see regal architecture that rivals wealthy European enclaves in Monaco or London.
And along tree-lined walkways, you will witness monuments that speak of the legacy of Argentina’s finest moments.
But all of it is just a façade-a reminder of what used to be.
Despite having one of the most educated and entrepreneurial populations in the world, an abundance of natural resources, and a dynamic agricultural sector, Argentina has been in steep decline now for eighty years.
And things are only getting worse.
Without a doubt there’s a lesson here– even though I recognize U.S. businesses have it comparatively easy when it comes to government mismanagement.
Even still, after spending the week immersed in Argentina’s business culture, it’s hard to argue the U.S. isn’t on the same unsustainable path.
With the U.S. debt and obligations reaching new heights, new arbitrary regulations making it increasingly harder to conduct business, and examples of ruthless big government gone array in the AP and IRS targeting scandals, the parallels are too great to ignore.
This is far different from the recent comparisons to Greece–and actually much worse.
The truth is the United States is in danger of becoming the next Argentina.