$0.77 (1.05%)
09:31PM (15 mins delay)
Nov 12, 2009 - 11:19 AM EST
John M. Mason submits:There was an interesting article inside the Wall Street Journal Thursday morning comparing the fortunes of Brazil and Argentina. (See “Argentina Falters as Old Rival Rises”) In the article, a research paper published in Argentina is quoted: “Since the middle of the last century, Argentina’s economy has endured a notable decline relative to the rest of the region, falling into ‘insignificance in the international context.’”
During this time period the government of Argentina followed a very undisciplined approach to economic policy while it kept itself in power and suppressed dissent. In 2001, Argentina declared the largest sovereign debt default in history. Things have not gotten much better since.
Source: Seeking Alpha (Nov 12, 2009 - 11:19 AM EST)
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