“The dog returns to his vomit, the sow returns to her mire, and the burned fools bandaged finger goes wabbeling back to the fire.”
This has a much chance of improving things as the Mexican reforms to their oil industry, which is to say none. Why should any business invest in these places when much more profitable opportunities are sitting in the US, and incur much less risk. Argentina has been stealing developments from foreign businesses, so what idiot is going to develop anything there? So if I invest $250 million I will get to keep 20% of the hard currency it “might” earn, oh so generous, but I think I’ll pass for an investment that lets me keep all my profits less any taxes, and has 0% risk of having my entire investment stolen by the Government.
Argentina is fast on its way to becoming Venezuela and Cuba and the only folks in Argentina doing just fine are the Castro loving Kirchner, her close aides and their Swiss bank accounts.
The Spanish oil company REPSOL had their assets stolen by Kirchner and company recently, and Argentina has defaulted on their bonds TWICE in the last 15 years. The real inflation rate there is about 20% per year. Only an idiot would invest in Argentina.
For Argentina to attract any investments, the existing government has to be overthrown; not un-elected, not voted out of office, but totally and completely overthrown and the top leadership there has to be liquidated; there simply is no other way to rid that government of it’s pro-Castro politicians.
What a shame. In the early 1900s, Argentina had one of the highest standards of living in the world and a world class economy. But, the Latin American disease – populism / socialism – infected Argentina, and ever since then it has been downhill.
Argentina will not recover . The government is to corrupt and the voters there, in their stupidity, have voted for economic and political suicide, repeatedly.
Just watch, the worse things get in Argentina – and they will get worse, Kirchner will get closer to Cuba’s Castro, Maduro of Venezuela, to Iran and Russia.
Losers love hanging with other losers.