Please Cry for me Argentina!

 

FEDERAL CRIMINAL CHARGES FILED

Saturday - July 9, 2011 - The Federal Government has filed criminal charges against the managers of an economic consulting firm, escalating its prosecution of independent economists. A federal court official said Friday that a judge is evaluating the charges to decide appropriate action in investigations into the charges.  Further, the criminal complaint alleges that data also lead to speculative behavior in the bond market.  According to officials at the National Statistics Agency,  the consumer prices rose 9.7% from a year ago, not annual inflation surpassing 20% as stated by virtually all other economists, angering government officials who dismiss inflation as a national problem.

Why enter into the eye of a Hurricane when you have time to avoid it?

That news story about the Federal Government is absolutely mind numbing to see happen. If we did not have our United States Constitution, it could be a reality like that which just happened in Argentina this week. According to the Wall Street Journal, 'the criminal complaint, initiated by the Commerce Secretariat, is the worst in a series of legal measures against economists.'

So, the century-old saying, "Figures don't lie, but liars do figure" still holds true. In this case,  it is the government who wants to keep the lid on inflation by deflecting blame to others like private independent economists. That bombastic rhetoric sure sounds real familiar these days before the upcoming Presidential 2012 Election Day!

'The United States economic decline precariously resembles Argentina's economic collapse, which started in 1998 and landed Argentina in a depression by the end of 2000. What began in Argentina as a recession mushroomed into a full-fledged depression due to bad economic and monetary policy. The Obama administration and its congressional Democrat lackeys are on the precipice of following Argentina's disastrous economic and monetary policy decisions.' [1]

So,  Obama's answer to pay down the United States debt woes are similar to Argentina.  'Many economists recognize, though they many not publicly admit it, that inflation is the only feasible alternative. The government is limited to three possible revenue sources: taxing, borrowing, and inflating. Any sensible person realizes the country cannot tax its way out of a $13-trillion debt or sustain existing entitlement programs, much less government-run health care. The government borrows money by selling government-backed securities to investors. Eventually, investors will either stop purchasing government securities or demand substantially higher interest rates due to the increased risk. The only feasible alternative is to monetize the debt -- in other words, Inflate it.'  [2]

~  REMEMBER... 

VOTE 2012!  ~

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[1]  American Thinker - An Argentina-like Economic Crisis by Scott Strzelczyk - 07/01/11

[2]  Ibid