December 20th is the anniversary of the Corralito

[earlyretirement]

Wow where did the time go. December 20 is the 22nd anniversary of the Corralito when I saw Argentina go through 5 Presidents in 12 days. Great article from a few years ago that tells how screwed up Argentina is. My favorite part is this:


Nobel Prize-winning economist Paul Samuelson put forward a similar idea, but without any hint of resigned humor: “Argentina is a classic example of an economy whose relative stagnation does not appear to be the consequence of climate, racial divisions, Malthusian poverty or technological shortcomings. It is its society, not its economy, that appears to be unwell.”

Argentina’s perpetual crisis

A hundred years ago it was one of the richest countries in the world. Since then, it has suffered average annual inflation of 105% and has had to change currency five times. Where does the curse of the Argentine economy stem from?

english.elpais.com

 

[Betsy Ross]

Time flies when you're having fun!

 

[Canada Goose]

It truly is remarkable how civilized the locals are in the face of such diversity and difficulties with their economy over and over.

 

[IrishLad]

Argentines are the strongest and most resilient people I know.

 

[Che Vos]

I am too young to remember that but my family always talks about that. I only read about it in books and magazines. I can't imagine how it must have been like to lived through that.