Tuesday, February 05, 2013

Too bad politicians can't be jailed for malpractice

"Argentina Freezes Supermarket Prices To Halt Soaring Inflation; Chaos To Follow" (Zerohedge via Instapundit):

Up until now, Argentina’s descent into a hyperinflationary basket case, with a crashing currency and loss of outside funding was relatively moderate and controlled. All this is about to change. Today, in a futile attempt to halt inflation, the government of Cristina Kirchner announced a two-month price freeze on supermarket products.
The consequences of heavy handed market interventions are predictable and avoidable. To brush what will be the brutal effects away of these desperate acts of a failed ideology as 'unintended consequences' should be criminal.

Update: Zerohedge on Argentina's Financial Collapse, asking "How was it possible that in so rich a country so many people were hungry?"

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