Can Argentina Survive the Kirchner Curse?

Economist

The sudden death of former Argentinian president and key power-broker Nestor Kirchner has triggered a surge in stocks and bonds trading within the Latin American nation. Kirchner is considered largely responsible for the anti-business policies of Argentina which helped depress the business climate there in recent years. But is it realistic to assume that Kirchner's death will change anything?

Argentine bonds posted big gains and stocks hit a new record high Thursday as markets anticipated a more business-friendly environment following the death of former president Nestor Kirchner.

While presidents from across the region and supporters filed past Kirchner's coffin to pay their last respects, Argentina's Merval Index of leading shares topped a new record, rising 1.17% to 2954.86 points.

The gains were led by power and gas providers amid speculation that the government of President Cristina Fernandez, Kirchner's wife, may consider easing rate controls following his death...

...Kirchner, who was president from May 2003 to December 2007, died of a heart attack at the age of 60 in his home province of Santa Cruz early Wednesday. His wife succeeded him in the presidency. However, Kirchner was thought to play an active role in crafting economic policies in his wife's government that were characterized by heavy state intervention in the economy and hostility toward the private sector.

Many political analysts had expected Kirchner to run in the October 2011 presidential election as a way for the husband-and-wife team to alternate in power and avoid constitutional restrictions on term limits.

Besides stocks, investors also snapped up Argentina's sovereign debt amid the positive sentiment. _WSJ

Leftist leaders such as Obama and Raul Castro have expressed their deepest condolences at the death of Kirchner, while businessmen and economic traders of Argentina secretly celebrate and not so secretly begin buying assets and making hopeful plans for the future.

The future of Argentina depends upon whether Kirchner's widow, President Cristina Fernandez, is able to change course from the suicidal anti-economic policies influenced by her husband. Cristina's plan to steal private pensions for use by the federal government is typical of the stupidity of the Kirchner - Fernandez coalition -- but even if Cristina cannot learn, perhaps the people of Argentina can outgrow their Cinderella fixations.

The video below suggests that the inconsistencies of the Argentinian populists may come back to bite them. (via Cato, in Spanish)...

in a 1973 speech, none other than Juan Perón emphatically condemns the nationalization of private pensions, calling it “theft” and referring to public pension systems as generally “inefficient” and “unsafe.” He describes a previous episode in Argentina when a government in need of money nationalized private pensions and depleted workers’ retirement funds, using them for other purposes. It was an “assault.” _Cato

If the uber-populist Peron condemned the federal theft of private pensions, Cristina (without Kirchner's backing) may find it difficult to push through such oppressive, fascist, anti-private sector policies. But her inner core -- such as it is -- is not likely to improve or grow wiser.

Don't Cry for Me, Obamanistas, Zombies, Slaves

An Argentinian Photo Album

When the leader of the world's superpower consciously embarks on a mission to destroy the integrity of his nation's economic and political infrastructure, one should understand the perversely tragic aspects of the situation. Mr. Obama's dreams of conquest over the evils of the colonial western world are near their climax. It is unfortunate that he lacks the insight into his own motivations, and that he fails to see the parallels between his own suicidally quixotic quest, and the many similar futile quests of leftist justice over the past century and more.

20 years after the collapse of Soviet Eastern Europe, and as Chavez' Venezuela falters and Castro is acknowledging the failure of his own revolution, Mr. Obama has just begun to institute his own revolution of destruction against the Great Satan of the Islamists, and the bane of leftists around the world.

Although it is still the world's superpower military hegemon and the economic anchor of the world's economy, the steep upward trajectory of the US government's debt was already a cause of concern even before Mr. Obama was elected. But Obama has increased the acceleration of economic doom by an order of magnitude -- and in so many ways that it is impossible not to suspect that it is an intentional agenda of destruction. The Obama Pelosi regime has made sure that there is no political way out of the quagmire, despite the worst the Tea Party may try to achieve to restore constitutional government.

Obama's plan does amount to an elaborate revolution and bloodless coup against the constitutional political and economic protections put in place over 2 centuries ago. The energy starvation aspects of the Obama Pelosi regime alone are enough to destroy the private sector eventually, but the hidden malignant aspects of Obamacare and the Dodd-Frank act -- among many other new regulations, provisions, and laws -- will accelerate the destruction beyond the comprehension of those who think in simple political and economic terms. And so it goes without end -- an ambitious coup against the "negative aspects" of the US Constitution. Because Mr. Obama's genius cannot be constrained by such an ancient document of restraint.

And so it comes down to insurrection. But a bloodless coup does not require a bloody insurrection to counter it. In fact, Americans should not even want the America that existed before Obama's election -- although Obama Pelosi has made many Americans look back with nostalgia to pre-OP times.

What kind of insurrection will it take to bring about a constitutional government with equal protections under the law and abundant opportunities for expanding the economy?

A comment on a previous article -- which mentioned voluntary alteration of tax compliance by citizens -- contains the beginning of an idea which needs to be expanded and transformed. But governments cannot go on indefinitely spending more than they receive. The government printing press contains the ink of its own destruction, as the Perons of Argentina and other tyrannical populists throughout history have learned to their regret.

More on the peaceful insurrection later. Assuming the Obama zombies allow that option.