Kirchners Lose Election in Argentina
The election results were counted up last night. The Kirchners - the husband and wife team that governed Argentina - lost. The winner was the man accused of drug dealing...Francisco Narvaez.
As we remarked above, we're suckers for underdogs, die hards and scalawags. That is probably one of the reasons we like Argentina; it is all those things and more. It is a measure of the lost cause status of the pampas that news of the election was hard to find. We looked through the TIMES and found no mention of it. The International Herald Tribune did pass along the news - on page 4.
Something went wrong in Argentina. The country was once a rival of the United States of America - with nearly the same income per capita...and about the same prospects. Now, it has less income per person than Chile and exports less beef than its tiny neighbor, Uruguay.
What went wrong?
Well, life is not exactly under our control. We doubt that a group of Argentines ever got together and decided to become a second rate country. Things happen.
And here at The Daily Reckoning we watch...and wonder what will happen next.
Until tomorrow,
Bill Bonner
for The Daily Reckoning Australia
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About the Author
Best-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.
Comment by Ross on 2 July 2009:
Fuedalism is dead, long live the rest of us.