Alex Kicillof, a young Marxist economist and talented orator, has been the main advisor to Argentinian president Cristina Fernandez. According to sources quoted in the Financial Times, Kicillof “is the economic brains—the first economist she has listened to since Néstor Kirchner died” and is “on the left of the left.”This week Fernandez moved to nationalize the Spanish energy company YPF-Repsol by taking a 51 percent stake. After months of haggling between the government and the private oil company over falling output and rising fuel costs, the move provoked condemnation from investors worldwide and threats of economic and legal retaliation by Spain. YPF has argued that its output has actually increased in recent years, and that the burdensome regulations that keep Argentine oil below market prices are the main impediment to healthier oil output.Fernandez put Kicillof in charge of YPF by decree this past week. On Tuesday, the deputy economy minister delivered a rousing presentation on the bill designed to expropriate YPF, “with rhetoric straight out of the 1970s,” according to the FT. The nationalization of YPF has discredited Argentina in the eyes of investors and dashed the country’s economic prospects. The fact that it was whispered into the president’s ear by a charismatic young ideologue sporting outdated economic doctrines and Elvis sideburns should not fill foreign investors with confidence.Via Meadia has been warning investors for some time that Argentina is moving towards one of its recurring periods of economic instability in which foreign owned assets are even more at risk than usual in this turbulent country. Providence seems to have marked Argentina out for great riches, giving it enormous natural resources in one of the most peaceful and secure places on earth. Argentines, however, seem bound and determined to fight the divine decree and over and over again choose policies that ensure the country falls far short of what it could and should be.It’s their country and it’s their choice, but it is still very sad. Via Meadia advice: money can be made in Argentina if you time the cycles properly. But that is a hard thing to do, and for most investors, the smartest choice is to put your money somewhere safer.