On Argentinians being the first ones to be ripped-off by their own government, who will be next?

Hobbes, forget the Falklands (Malvinas in Spanish), it seems that the Argentinian government has finally decided to follow the master and improve on it.

When you thought outrageous that Chancellor Gordon Brown (now British Premier) dipped into the private pension pot to cover current government expenses, last month President Cristina Fernández de Kirchner announced that she planned to nationalise the 14-year-old private pension system. Yesterday the senate passed the bill.

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On governments mimicking Buffett, funding pension shortcomings with part-nationalisations

Long life to capitalism! So first Warren Buffett and now Wells and Fargo gets the upper hand.
That’s a bit of hope for those who still believe in human nature, not shooting in the dark with no ideas or control.

Amongst all this turmoil, I  don’t get yet why in free markets like UK or US they don’t do a Moscow (suspending temporarily trading). I know that a few weeks ago I supported the opposite view, but human nature and the trumpeted “wisdom of crowds” (or lack of any wisdom at all) requires of exceptional measures like those applied to that lady passenger on 1980’s Airplane! Continue reading