Is Argentina the Next Venezuela? Let’s Hope Not

Just when we thought it could not get any worse for Argentina, it just did.  The populist leftist duo of Alberto Fernandez and Cristina Kirchner has scored a stunning victory over the pro-business president Mauricio Macri this past week, and they are poised to become Argentina’s next president and vice president.

For your information, Cristina Kirchner was the leftist two-term president whom Macri defeated in 2015.  As the Washington Post reports, Cristina is currently “facing trial on nearly a dozen charges of bribery, embezzlement and money laundering from her time in office.”

If this is not enough, here is what she had to say about capitalist economic policies:

”I understand less and less those capitalists, who call themselves capitalists but want the people to die of hunger and not to consume or spend,” as cited by the WaPo.

Sure Cristina.  As my friend Andres Oppenheimer writes in the Miami Herald:

“Predictably, Argentina’s markets crashed the day after the [election] and many Argentines rushed to buy U.S. dollars.  They feared a government run by these two would start to irresponsibly print money to pay for ever expanding social subsidies, worsening the country’s inflation rate.”

That is how the road to hell got started in Venezuela.

Is Argentina the next Venezuela?  Let’s hope not.