Thursday 26 December 2013

Rich as an Argentinia​n?.....................from Rico

A century ago, Argentina was so prosperous that the phrase "rich as an Argentinian" was widely used to describe the uber-wealthy of the day. - That was before successive governments managed to squander, fritter-away, over-regulates and generally piss-away that wealth. Now the phrase is meaningless, and has been somwhat 'supplanted' by something akin to "those d#%&ed rich Americans." To be an Argentinian today is to be poor as a church mouse. Taking a look at the performance of major currencies vs. the USD for YTD 2013 gives a sneak preview [read: rerun] of what happens to a nation when its government squanders, fritters-away, over-regulates and generally pisses-away the wealth of their people. - The venerable British Pound held its own. - No surprise that the 'Swissie' did better, or that the Japanese Yen was almost the worst performer (save for Communist South Africa). - BUT that the Argentine Peso performed head-and-shoulders above them all...and especially against the USD...should be cause for grave concern for everyone, especially Americans. Guess who pointedly will NOT be told about this? - Yeah, those lucky Americans who thanks to 'hope, change, and forward' are being 'fundamentally transformed' into poor church mice....without the church.

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