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Days After Freezing Prices, Argentina Bans All Advertising

Tyler Durden's picture




 

"We are from the government and we are here to help you"

- Anonymous government worker

A week after Argentina resorted to every failing authoritarian government's last ditch measure to (briefly) control inflation before runaway prices flood the nation and result in political and social upheaval, namely freezing retail prices - a decision which never has a happy ending, the country is pressing on through the rabbit hole and in the latest stunner of a government decree (which like Venezuela yesterday is merely a harbinger of what is coming everywhere else), has banned advertising in the Argentina's newspapers in an attempt to weaken what's left of a private, independent media, and to punish those who don't comply with the government's propaganda.

From the WSJ:

Supermarkets and electronics retailers say Argentina's government has ordered them to stop advertising in the country's top newspapers, in a bid to weaken independent media companies as President Cristina Kirchner turns to increasingly unorthodox policies to prevent inflation from derailing an ailing economy.

 

The order, confirmed by retailers and newspapers but denied by government officials, comes after retail executives say price-control czar Guillermo Moreno pressured them earlier this week to agree to freeze prices for two months. Executives say Mr. Moreno then told them to pull all newspaper sales ads in hopes this would somehow curb inflation. "This was an imposition, not a request. He simply decided that nobody should publish any ads. It's not sustainable and will be hard to comply with," said one retail-sector executive.

And yes, a light bulb just went on over the president's head when he read the word "price-control czar."

Why is Argentina resorting to this dictatorial measure? Simple - to stifle the independent press for one simple reason - "misreporting" inflation, or at least reporting inflation numbers which are orders of magnitude higher than the official government numbers.

Mrs. Kirchner played down inflation for years, refusing even to say the word in public. But with economists estimating annual inflation at around 26%, she has been calling on consumers to prevent companies from raising prices. A sluggish economy and Mrs. Kirchner's confrontational political style have also taken a toll on her popularity.

 

The Buenos Aires Newspaper Editors Association said the order was a reprisal against those who publish independent inflation estimates. "This is another display of how far authoritarianism can go in a context that is dominated by discretional policies and bullying," the group said in a harshly worded newspaper ad Friday.

 

The controversy comes as Mrs. Kirchner attempts to implement a three-year-old media law that would overhaul Argentina's media industry and dismantle media giant Grupo Clarín SA, which publishes Argentina's bestselling newspaper, Clarín, and runs a profitable cable-TV and Internet network.

 

"This aims to inflict economic damage on all independent media companies," Clarín spokesman Martin Etchevers said. "On the one hand, it's another attempt to weaken media that don't depend on government money. On the other, it's an attempt to keep people in the dark about inflation."

Two birds with one dictatorial decree stone. However, while the motive is quite clear it shows the danger of having a truly independent media, and one which is not aligned with the government's propaganda: report the truth and we will starve you by banning all your advertising. Ad revenues in the US must be soaring...

Mrs. Kirchner accuses Clarín of using its sway to undermine her government. Clarín officials say the government started targeting it in 2007, when it began reporting that the government was underestimating inflation.

Just as notably, with the witch hunt against anyone whose inflation numbers differ from the government's official lies, it is likely that the organizers of the Argentinian equivalent of the Billion Dollar Price project would get the death penalty.

In 2011, the government started fining economists for publishing their own inflation estimates. To protect them, a group of opposition legislators began publishing the economists' monthly inflation estimates anonymously.

What is most ironic is that it is the same US-based IMF who recently punished Argentina for its inflationary misreporting.

The International Monetary Fund has weighed in on the matter and recently censured Argentina over questions around its economic data. The IMF warned that it could eventually expel Argentina from the organization if the matter isn't resolved.

But perhaps Argentina is not massaging its inflation numbers - perhaps it is merely doing what the US and every other IMF member nation does: ignore those prices which are soaring, and hedonically adjust everything else far lower, to give the general public the impression that the horsemeat lasagna which went up in price... it didn't really go up in price.

At the end of the day, this like every other idiotic measure taken by a government in its last throes is just to preserve power one more month, or week, or day:

Gabriel Gómez, an economist at the research firm Consultora Ledesma, said the government is imposing short-term price controls and advertising limits ahead of a key mid-term election in October.

 

"The only thing the government wants now is to decelerate inflation before October," he said. "Everyone knows that price controls are counterproductive in the long-run, so that's the only way to understand the logic behind this."

 

Top government officials have called on Mrs. Kirchner to amend the constitution so she can seek re-election in 2015. To do so, her coalition would need to win more congressional seats in October.

Or, as is the case everywhere: when the government's self preservation is the bottom line, screw the people. Alas, that is the case now in every "developed world" nation, whose status quo is clinging on to dear life as the legacy socioeconomic and financial system implodes.

Keep an eye on just how far Kirchner will go to keep her place in power - that will be a useful indicator of what is coming to every banana republic next, and quite soon.

 

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Sat, 02/09/2013 - 12:21 | 3228669 kliguy38
kliguy38's picture

Hear no evil ..... see no evil........

Sat, 02/09/2013 - 12:22 | 3228672 goldfish1
goldfish1's picture

Wow.

Sat, 02/09/2013 - 13:22 | 3228686 MrX
MrX's picture

we should just make hardship illegal.  see here:

http://youtu.be/l5dW7-ekX64

with enough power, basic economic principles are null and void.  Liberty is the enemy of "progress".

Get off ma land or someone from the government will eventually show up and put you through a highly inconvenient legal process....unless you are outside our boders.  In that case, you are probably already dead......and all your neighbors.  Well, it is a war I guess and stuff occsionally(every day all day) happens.  At least I am pretty sure we declared war.  We did didn't we?  I thought we did.

Sat, 02/09/2013 - 13:24 | 3228770 AlaricBalth
AlaricBalth's picture

Ben Bernanke has created the U.S.'s greatest export: inflation.
Gracias pendejo!

"When the Fed prints money it is just creating inflation in emerging economies. But when the inflation in the EM gets high enough, it will bounce back, it will become inflation in the US." Andy Xie

http://www.zerohedge.com/article/andy-xie-explains-how-us-exports-inflat...

Sat, 02/09/2013 - 13:30 | 3228781 francis_sawyer
francis_sawyer's picture

We are a banana republic... & YES ~ We have no bananas...

Sat, 02/09/2013 - 13:45 | 3228812 SafelyGraze
SafelyGraze's picture

the first sentence has 105 words

Sat, 02/09/2013 - 13:54 | 3228826 DavidC
DavidC's picture

And a Flesch reading ease 0.0, Flesch Kincaid Grade Level 46.1.

Hilarious!

DavidC

Sat, 02/09/2013 - 14:05 | 3228847 a growing concern
a growing concern's picture

Faulkner would scoff at that.

Sat, 02/09/2013 - 14:06 | 3228849 SafelyGraze
Sat, 02/09/2013 - 14:09 | 3228852 Vegamma
Vegamma's picture

You may have hit on something here. Why would the average voter with an 8th grade reading level struggle with an article like this when Dancing With the Stars comes on in a few hours?

Sun, 02/10/2013 - 04:27 | 3230171 MisterMousePotato
MisterMousePotato's picture

I had no problem reading it. Or understanding it. (Indeed, I rather enjoy Tyler's snarky writing.) And I'm not very bright. (My stepfather [whom I miss terribly, God rest his soul] pointed that out on a daily basis for years.)

Sun, 02/10/2013 - 03:24 | 3230127 CompassionateFascist
CompassionateFascist's picture

@ Sawyer: lotsa banana-noses in power tho. 

Sat, 02/09/2013 - 14:23 | 3228872 Never One Roach
Never One Roach's picture

I'm gonna miss the ads, guys, especially the TV ads.  In fact, it's bothersome when those 25 minutes of commercials are interrupted by 5 minutes of the regularly scheduled programming. 

Sat, 02/09/2013 - 15:40 | 3229051 wee-weed up
wee-weed up's picture

Don't anyone tell Nanny Bloomberg about this, whatever you do!

Sat, 02/09/2013 - 17:41 | 3229302 caconhma
caconhma's picture

After all, Mrs. Kirchner was twice “democratically” elected by Argentina people as their President.

It tells me that people are indeed very stupid and lazy and deserve their destiny. It is always irresistibly appealing to get lots for nothing.

It also tells me that when every imbecile has a right to vote it is not good for anybody including imbeciles. Eventually, even imbeciles understand this simple fact. Then they are starting to look for another slave-master.

 

 

Sat, 02/09/2013 - 14:39 | 3228915 disabledvet
disabledvet's picture

Venezuela had a shortage of dollars...that's why it devalued. That is OIL rich Venezuela. We are having problems with FALLING prices in the USA. What hasn't happened yet is a rash of bankruptcies...especially in companies that "cannot fail" because of "an expected inflation that does not arrive." My understanding in Argentina is that they've had a crop failure of some sort. http://seekingalpha.com/article/1169461-wasde-brazil-to-produce-record-s...
Argentina's "depleting weather and crops" was the part that stood out to me. That sounded very ominous...ironically enough at the same time that Brazil is producing all time record harvests. (did someone say sound economic plans from Brazil but not Argentina?) The USA is keeping energy prices high IN THE USA via "massive exports of cheap energy." this used to be very hard to do...but not anymore. What can't be exported very easily is ethanol...of which the USA went from "barely a mention" to "largest in the world" in just a couple of years. That's how big the USA's capital and energy markets are. Now the rest of the world has an "internal development problem." In short outside of Europe and the USA and to some extent (barely) China "they don't have one." Brazil is still my the best candidate for "developing its interior" as it actually has one to develop and since it has the Amazon river it already has a "superhighway" that comes with it. Can they summon the political will to do so however? So far their interest rates have fallen with the rest of the world's...and should the rest of Latin America follow Venezuela's "lead" save Brazil then that will make Brazil into a true economic super-power on the Continent. I'll believe it when i see it though. "no one wants to be told their Apartment isn't worth 500,000 US but 5,000 actually."

Sat, 02/09/2013 - 17:46 | 3229300 TheGardener
TheGardener's picture

Disabledvet, I lived in Brasil for some time and
the running joke was "Brasil was always the land of the future and it will ever be !"

Another joke from those days : How to be worth a million dollars in Brasil within 6 months? Become a permanent resident with 2 million to start with !

Sun, 02/10/2013 - 03:29 | 3230130 CompassionateFascist
CompassionateFascist's picture

Evidently someone else does Disabled Vet's grocery shopping. And for about everything else as well. It's all a debt-bubble now...

Sat, 02/09/2013 - 13:55 | 3228821 redpill
redpill's picture

There was the greatest generation, then the boomers, then gen x, then gen y, and now we have the Horsemeat Lasagna Generation.

I dont often eat horsemeat lasagna, but when I do... hmm, no actually I never eat it. Stay thirsty my friends.

Sat, 02/09/2013 - 15:42 | 3229038 FEDbuster
FEDbuster's picture

I heard they served the Bernak's favorite, Unicorn meat, at Tim Geithner's going away dinner at the White House.

http://3.bp.blogspot.com/_-CZtVxNFsac/TCfB9yyi7-I/AAAAAAAACz8/8D2KC9oxWm...

Sat, 02/09/2013 - 16:06 | 3229100 Wile-E-Coyote
Wile-E-Coyote's picture

Yeah horse meat found to have "Bute" in it, this story gets better by the day.

Won't be long before funeral parlours will become meat processing plants!

Sat, 02/09/2013 - 16:17 | 3229125 FEDbuster
FEDbuster's picture

"Soylent Green is people!!"

Sun, 02/10/2013 - 03:34 | 3230132 CompassionateFascist
CompassionateFascist's picture

read Jack Vance's great anti-Socialist Utopia, Wyst: soon we'll all be eating "gruff and deedle, with a bit of wobbly to fill in the chinks..."

Sat, 02/09/2013 - 12:58 | 3228740 kliguy38
kliguy38's picture

Could have gone with "first" but its Saturday and I thought my critical thinking may be suffering from a hazy friday night of booze and pot....besides your "wow" highlights a "critical" post....

Sat, 02/09/2013 - 13:12 | 3228756 MrX
MrX's picture

don't hate the player, hate the game, and hate the score, and hate the post-game wrap-up

Sat, 02/09/2013 - 13:30 | 3228784 kliguy38
kliguy38's picture

friend of mine sent me this today, knowing it was Saturday...keep your eyes on the cross thats the only rule

http://i.imgur.com/opNnoOx.gif

Sat, 02/09/2013 - 14:29 | 3228886 Silver Bug
Silver Bug's picture

The currency wars are just getting started baby!

 

http://jimrickards.blogspot.ca/

Sun, 02/10/2013 - 00:47 | 3229931 sun tzu
sun tzu's picture

Obozo won't have to worry about the media in the US since they already toss his salad on a daily basis

Sat, 02/09/2013 - 12:21 | 3228670 Ignatius
Ignatius's picture

It won't work.

Sat, 02/09/2013 - 12:48 | 3228721 OpenEyes
OpenEyes's picture

Exactly it won't work.  Neither will Venezuala devaluing their currency.  Or, was it Italy that banned all cash transactions a few months back?  

Doesn't it seem that things are beginning to come apart more quickly?  And that these controls are becoming more blatant, more severe and more frequent?

Sat, 02/09/2013 - 13:00 | 3228743 DeadFred
DeadFred's picture

It sems to me that people have a hard time learning. Argentina has been down this path before and it ended poorly. Thousands of people 'disappearing', doctors spending their days scavenging cardboard from the dump, roving bands of thieves raping and stealing through the countryside, wars to claim sheep covered rocks in the middle of the ocean. Maybe I should ammend the part about ending because the country only seems to get brief lulls in the chaos. Maybe I should also ammend the part about learning as well. Their .GOV hasn't learned anything but the people and businesses seem understand they're being lied to, unlike a country I know of that hears BLS statists and thinks "This a great time to buy stocks and re-elect some Kenyan guy"

Sat, 02/09/2013 - 13:14 | 3228758 Karlus
Karlus's picture

Kenyan guy got re-elected because of multiple voting, he is the cool candidate that people idolize, and no one would vote against Santa and his bag of food stamps.

We will go down the price control and rationing route because a large number of our populace is dumb as hammers and can vote.

Just wait until we get involved in a real conflict and that selective service card comes in handy.

Sat, 02/09/2013 - 20:34 | 3229600 ebworthen
ebworthen's picture

+1 for "dumb as hammers"

And the one's with PhD's use a hammer on screws (Ben?  Ben Bernanke?).

Sat, 02/09/2013 - 21:18 | 3229667 Parrotile
Parrotile's picture

If the screw's rusted-in, a quick tap with a hammer (before, or after "help" from WD-40) can work quite a miracle.

Ask anyone who owns (or has owned) a boat . . . . .

Sat, 02/09/2013 - 21:29 | 3229684 Midas
Midas's picture

I use PB Blaster.  I am on a one man crusade against WD-40.  They claim 100s of uses and I say for each of those uses there is something better.

Down arrows to anyone who uses it as a lubricant....

Sun, 02/10/2013 - 04:07 | 3230151 Tijuana Donkey Show
Tijuana Donkey Show's picture

WD-40 is good for rust prevention, that's it. (Also what it was deisgned for, they used it to keep nukes fresh and ready.) PB is the shit for anything stuck....

 

Sat, 02/09/2013 - 14:35 | 3228906 css1971
css1971's picture

No that was an authoritarian Fascist state. This is going to be socialist.

Sat, 02/09/2013 - 18:13 | 3229355 TheGardener
TheGardener's picture

Just go there. See the beauty of Buenos Aires.

Most beautiful capital city left on earth.

In Europe, those cities got either bombed out of existence or neglected or disfigured by commercial interests.

And on decadence , there is no better school.

Go to Chile and you wish Pinochet were the evil dictator he was blamed to be and many more would have disappeared
as alleged in Argentina. Nice places again after the next real dictator.

Sun, 02/10/2013 - 03:39 | 3230135 CompassionateFascist
CompassionateFascist's picture

...aaaaaaaaaaaaaand that's also why the desperate gun-grab. The ZOG knows it won't be able to buy consent with debt for much longer. Next comes the Gulag, and they don't want anybody shooting back.  

Sat, 02/09/2013 - 16:28 | 3229161 DosZap
DosZap's picture

 We are having problems with FALLING prices in the USA.

WHERE and in what?????????????.

We have 10%+Inflation, and we have a 23% UE rate.Also 6.6 Million Americans still looking for work.

Everything I NEED to live, has gone thru the roof,maybe you can elablorate??

Sat, 02/09/2013 - 21:03 | 3229643 Overfed
Overfed's picture

"We are having problems with FALLING prices in the USA.

WHERE and in what?????????????."

 

Sure as fuck ain't ammo, gas, food, or building supplies.

Sat, 02/09/2013 - 21:18 | 3229668 FEDbuster
FEDbuster's picture

or popcorn.  Went to buy another 50lb bag at Sam's Club, it went from $20 to $28 in the past month.  I know it's from the drought, but come on 40% rise in a month?

Sat, 02/09/2013 - 12:24 | 3228676 Stockmonger
Stockmonger's picture

Argentina shall now be known as Krugmania.

Sat, 02/09/2013 - 12:34 | 3228695 Tyler Durden
Tyler Durden's picture

More humor

From Paul Krugman, May 2012

Down Argentina Way

Matt Yglesias, who just spent time in Argentina, writes about the lessons of that country’s recovery following its exit from the one-peso-one-dollar “convertibility law”. As he says, it’s a remarkable success story, one that arguably holds lessons for the euro zone.

I’d just add something else: press coverage of Argentina is another one of those examples of how conventional wisdom can apparently make it impossible to get basic facts right. We keep getting stories about Ireland’s recovery when there is, in fact, no recovery — but there should be, darn it, because they’ve done the “right” thing, so that’s what we’ll report.

And conversely, articles about Argentina are almost always very negative in tone — they’re irresponsible, they’re renationalizing some industries, they talk populist, so they must be going very badly. Never mind this:

Just to be clear, I think Brazil is going pretty well, and has had good leadership. But why exactly is Brazil an impressive “BRIC” while Argentina is always disparaged? Actually, we know why — but it doesn’t speak well for the state of economics reporting.

Sat, 02/09/2013 - 12:41 | 3228709 Rubicon
Rubicon's picture

Dont fuck with Freddy Krugman!

Sat, 02/09/2013 - 12:43 | 3228715 andrewp111
andrewp111's picture

Is that graph of "real GDP" based on real inflation numbers or government massaged fantasy numbers? Argentina wouldn't need to take extreme measures if things were going so swimmingly, would they?

Unless of course Kirchner is diverting the country's entire GDP growth to a nuclear weapons program so she can take the Falklands back from the British.

Sat, 02/09/2013 - 16:32 | 3229176 machineh
machineh's picture

Real GDP is calculated as (nominal GDP - inflation).

So of course, if inflation is too low, then real GDP comes out too high.

Argentina was growing, but the growth likely was exaggerated.

Sat, 02/09/2013 - 21:23 | 3229677 Parrotile
Parrotile's picture

Joking aside, you'd be quite surprised to know how many UK RN submariners were keen on "trying out" a few Polaris SLBMs on a "certain Country" during a "certain war".

That's why there were NO strategic boats anywhere near the Falklands - just in case someone with a big grudge decided to take a pot-shot (as has happened in the past!)

Sun, 02/10/2013 - 17:48 | 3231278 smiler03
smiler03's picture

What a stupid comment. Note that the UK is not in the habit of dislosing the whereabouts of their Nuclear Missile armed subs.

Sat, 02/09/2013 - 12:50 | 3228727 Oldrepublic
Oldrepublic's picture

Tyler is right,many young Spaniards are moving to Argentina

Official figures show that more than 65,000 Spaniards have fled to Argentina since the onset of the 2008 financial crisis, .

Faced with a jobless rate of close to 25pc, many would rather live in Argentina, with an estimated inflation rate of 24pc and tightening trade barriers, than remain in crisis-hit Spain.

http://www.telegraph.co.uk/finance/financialcrisis/9592270/Debt-crisis-S...

Sat, 02/09/2013 - 12:55 | 3228733 Metal Minded
Metal Minded's picture

Nowhere to run, nowhere to hide.

Sat, 02/09/2013 - 13:04 | 3228748 Non Passaran
Non Passaran's picture

Well considering the pain in Spain...

Sat, 02/09/2013 - 13:13 | 3228757 AnAnonymous
AnAnonymous's picture

Spain also have a woman in charge...

Sat, 02/09/2013 - 13:29 | 3228779 IridiumRebel
IridiumRebel's picture

Gender means nothing. Boneheaded leadership is not founded in the crotch.

Sat, 02/09/2013 - 14:00 | 3228836 unrulian
unrulian's picture

not so...i often make boneheaded decisions upon leadership from my crotch

Sat, 02/09/2013 - 15:33 | 3229040 The Gooch
The Gooch's picture

"cyclical"

Sun, 02/10/2013 - 00:52 | 3229918 Parrotile
Parrotile's picture

A situation often referred to as the "downstairs brain" overriding the "upstairs brain" I believe!

Been there, seen it, done it . . . .

 

Sat, 02/09/2013 - 14:29 | 3228887 Never One Roach
Never One Roach's picture

<<many young Spaniards are moving to Argentina>> ...and many young Argentinians are moving to Miami.

Sat, 02/09/2013 - 14:50 | 3228953 First There Is ...
First There Is A Mountain's picture

Wanna guess how those Spaniards are being received in Argentina? lol

Sat, 02/09/2013 - 15:09 | 3228995 YC2
YC2's picture

Probably being welcomed home with open arms from their friends and family they left behind when their ancestry got them an eu passport in 2001

Sat, 02/09/2013 - 15:26 | 3229027 First There Is ...
First There Is A Mountain's picture

If by being welcomed home with open arms you mean threatened with death for taking the few low paying jobs available, then yes, they are being "welcomed home".

Sat, 02/09/2013 - 15:34 | 3229042 YC2
YC2's picture

I am just making the point that 10 years ago there was a mass exodus the other way, and it makes you wonder how many of that 65k are from that group. Back then an Argentinian accent wasn't very welcome over there, either (not that it does you any favors in general!)

Sat, 02/09/2013 - 20:18 | 3229580 StychoKiller
StychoKiller's picture

Time to leap from the fryin' pan!  How hot could the fire possibly be?

 

Sat, 02/09/2013 - 13:02 | 3228745 Tsunami Wave
Tsunami Wave's picture

That guy is so unbelievably dangerous.  I bet he'll squeal loudly like a pig when he's taken out back and shot for his treasonous crimes against this country and for acting as the economic reporting proxy to the dangerous organizations that makes sure he keeps his job, nobel prize, etc.

Sat, 02/09/2013 - 13:35 | 3228786 francis_sawyer
francis_sawyer's picture

Kill a jew?... That's against the rules [& you're an antisemite for even pondering such an act]... He'll be promoted to king...

Sat, 02/09/2013 - 13:53 | 3228823 Tsunami Wave
Tsunami Wave's picture

I forgot he was a jew.  I just think of him as a treasonus non-human. 

We need to put back in our textbooks for our children to read the principles of capitalism that made this and many other countries so great.  And review as case studies the other economic systems that have their benefits and downsides.

He'll be known as one of the many douchebag enablers that pimp this pervasive economic illiteracy so generations of people can not think for themselves and do dumb things like vote away their freedoms, etc.

 

Sat, 02/09/2013 - 14:27 | 3228882 AnAnonymous
AnAnonymous's picture

a treasonus non-human.
_______________

Can non humans be something else than treasonous?

Signed: an American.

Sat, 02/09/2013 - 18:20 | 3229368 Poor Grogman
Poor Grogman's picture

Can Annoying-Mouse posts be something other than annoying and not to the point?

Signed a Nameless Tibetan prisoner.

Sat, 02/09/2013 - 18:35 | 3229396 TheGardener
TheGardener's picture

Annoynymulus is automated and you better not feed the algo....

Sat, 02/09/2013 - 15:00 | 3228908 francis_sawyer
francis_sawyer's picture

That's funny [& eminently laudable]... Congrats on having achieved first class 'PC' brainwashed moron status...

~~~

I was just thinking that I remember watching these movies on TV back in the day [produced & directed by 'random faceless humans' ~ more or less as you describe]... I remember Charlton Heston [Moses] thinking of Ramuses II as a 'treasonus non-human' in The Ten Commandments [not EGYPTIAN]... I also remember him thinking of Masala as a 'treasonus non-human' in Ben Hur [whereby Judah had zero distain for ROMANS]...

I seem to remember a bunch of Spielberg movies [whether they be Indiana Jones, Schindler's List, Saving Private Ryan, or otherwise], where the NAZI's were 'treasonous non-humans'... All the rest was forgiven...

~~~

I'm very happy to see you've trained yourself & evolved to such a point that you can utterly dissect your focus... Seems 'PEOPLES' [from the past] were incapable of doing so... [or is it the 'reporting'? ~ I forget]...

Sat, 02/09/2013 - 13:03 | 3228746 IridiumRebel
IridiumRebel's picture

Krugman is a fool. He will be exposed as math cannot be ignored. NYT loses Chris Hedges, but keeps this fool. 

Sat, 02/09/2013 - 13:25 | 3228771 Karlus
Karlus's picture

Dude, he is a Nobel Prize winning mouthpiece for "the ends justify the means."

There is no difference between him and Joesef G or Baghdad Bob

Sat, 02/09/2013 - 13:28 | 3228775 IridiumRebel
IridiumRebel's picture

Obviously, giving that once elegant award to the EU, Krugman and Obama minimizes it's worthiness. 

Sat, 02/09/2013 - 13:28 | 3228776 jmcadg
jmcadg's picture

Baghdad Bob was far more believable.

Sat, 02/09/2013 - 13:30 | 3228782 IridiumRebel
IridiumRebel's picture

I gave him a +1 for the baghdad Bob ref.

 

Sat, 02/09/2013 - 14:07 | 3228850 Karlus
Karlus's picture

I think Obama should ration upvotes and downvotes to keep the one guy who just spend 40 downs just hitting every message in a thread....

Or Obama could be the most transparent in history and identify upvoters and downs

Sat, 02/09/2013 - 15:52 | 3229068 wee-weed up
wee-weed up's picture

Karlus said... Or Obama could be the most transparent in history and identify upvoters and downs

Fear not, our comments, up-votes, down-votes... it's all being entered into our secret gov't dossiers.

Sat, 02/09/2013 - 18:29 | 3229388 Poor Grogman
Poor Grogman's picture

Great

That means annoying mouse will be put in charge of us at the FEMA camp.

I will be forced to learn annoying-mouse-speak...

Sat, 02/09/2013 - 13:32 | 3228788 imapopulistnow
imapopulistnow's picture

+100,000,000,000,000 .... (adjusted for inflation)

Sat, 02/09/2013 - 13:56 | 3228829 earleflorida
earleflorida's picture

the bilderberg selects the nobel prize recipients in economics, period! started in 1968 [note that date'd timeline, because in a few short years... you had the Nixon Shock!?]... and it is the Rothschild's whom created the bildenberg, in all it's glory! any questions: refer em to who gives a fuck!

Sat, 02/09/2013 - 14:33 | 3228902 css1971
css1971's picture

The economics Nobel prize is to Nobel prizes what Scientology is to Science.

Sat, 02/09/2013 - 16:20 | 3229134 NumberNone
NumberNone's picture

Posted this on the Krugman article, but in 1949 they gave the Nobel to the inventor of the lobotomy.  Personally looks to me like they missed a lobotomy candidate in Krugman before they stopped the procedure.

http://en.wikipedia.org/wiki/Lobotomy

Sat, 02/09/2013 - 17:57 | 3229329 thisandthat
thisandthat's picture

He was never awarded any Nobel. There's no such thing as a Nobel in Economics: http://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences

Sat, 02/09/2013 - 19:17 | 3229474 Poor Grogman
Poor Grogman's picture

All part of the global spin doctoring, notice how the Nobel family wanted nothing to do with the prize, but somehow it ended up with their name on it.

Funded by a central bank, who would have thought...

Sat, 02/09/2013 - 14:50 | 3228952 First There Is ...
First There Is A Mountain's picture

I don't know what Matt saw that I didn't as I just returned from BsAs two days ago, but let me tell you what I saw: a country on the verge of total socioeconomic collapse. Crime rates soaring and inflation eating away at everything in sight. Ostensibly the reason for the price freeze, according to some nice Argentine guys who were working for me, was that wages were about to increase dramatically in April (not nearly enough to compensate for inflation, but do they ever?) and this was a calm before the storm as EVERYTHING was about to hit the ceiling - buses, subte, groceries, gas, natural gas (still subsidized to an amazing degree) and electricity. Yes, shit is about to hit the fan in Argentina and the people are growing increasingly tired of being told what they can buy, sell, exchange, etc.

Sat, 02/09/2013 - 16:44 | 3229200 machineh
machineh's picture

Across from Plaza Italia in Buenos Aires sits the grounds of La Rural, the agricultural association which holds a long-established livestock show and rodeo every year, traditionally attended by the president.

Last year, Cristina tried to expropriate La Rural (it's some of the most valuable real estate in the city). The Argentine courts stood up to her and said 'No.'

So what happened? All police protection was withdrawn, and vandals trashed La Rural with political graffiti ... 'La Rural belongs to the People,'; etc.

This is the level of degeneracy Argentine politics have reached: what the peronist Black Widow can't steal outright, she sends her thugs to vandalize in the middle of the night.

Sat, 02/09/2013 - 13:31 | 3228785 BanksterSlayer
BanksterSlayer's picture

Argentina has platinum, right? Can't they just mint a platinum coin and fix everything? I love the name Argentina -- Argent -- Silver -- mmmmmm

Sat, 02/09/2013 - 13:52 | 3228818 CPL
CPL's picture

https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html

 

They have alot of everything.  In theory Argentina could break off from the rest of the world and be wholly independent except for third wave technology.

Sat, 02/09/2013 - 12:25 | 3228677 toady
toady's picture

I always tell my kids ; if you don't have anything nice to say keep your DAMN MOUTH SHUT!

Sat, 02/09/2013 - 12:35 | 3228697 Matt
Matt's picture

Disney programming kids not to spread bad news, or report the truth?

Sat, 02/09/2013 - 15:53 | 3229075 wee-weed up
wee-weed up's picture

Hey, the MSM has been doing it for over 4 years now!

Sat, 02/09/2013 - 18:05 | 3229340 thisandthat
thisandthat's picture

just 4?

Sun, 02/10/2013 - 02:04 | 3230060 toady
toady's picture

MSM lying for 4 years?

WAY more than that!

The last one I remember being half truthful was Cronkite ... how long ago was that?

Sun, 02/10/2013 - 04:13 | 3230159 Tijuana Donkey Show
Tijuana Donkey Show's picture

if you don't have anything nice to say, post it in the comments section of ZH......

Sat, 02/09/2013 - 12:26 | 3228678 myptofvu
myptofvu's picture

Hey I got an idea! Why list any prices at all. Just take the groceries to the check out isle and have them tell you how much you owe......then you could give them a blank piece of paper and say its a coupon and tell the checker how much its worth. Why does anyone need to bother with prices and values it seems so unnecessary.

Sat, 02/09/2013 - 12:36 | 3228698 Matt
Matt's picture

Why not just have the government decide who gets what food from the supermarket? Here you go, one coupon for rice, one coupon for beans ... seems "fairer" to me.

Sat, 02/09/2013 - 12:48 | 3228723 Winston Churchill
Winston Churchill's picture

Worked so well in the USSR when I was there.

That flagship department store on red square always had empty shelves

whenever I went into it.

Forward.

Sat, 02/09/2013 - 14:43 | 3228929 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

The shelves are empty in old USSR because the people purchased the high quality, low priced goods immediately causing constant supply outages.

 versus

in the USA the shelves are full because nobody has any money to buy the goods, it’s just for show.

Argentina has banded shelves all together to avoid this problem.

 

Sat, 02/09/2013 - 15:50 | 3229066 lincolnsteffens
lincolnsteffens's picture

Soviet customer says "I see you have a sign that says Red Herring, 3 kopecs a kilo. I'll take 2 kilos."

Soviet store clerks says "Yes we have a sign but we are out of Red Herring."

Soviet customer says "When will you have some more Red Herring?"

Soviet clerk, "I don't know."

Soviet customer, "When you do get some more how much will it cost?"

Soviet clerk, "I don't know."

Soviet customer, "When will you know?"

Soviet clerk, "When we have some."

Sat, 02/09/2013 - 12:26 | 3228679 mvsjcl
mvsjcl's picture

The inflation in arrogance is breath-taking.

Sat, 02/09/2013 - 12:28 | 3228681 suteibu
suteibu's picture

"The IMF warned that it could eventually expel Argentina from the organization if the matter isn't resolved."

For some reason, this doesn't seem like a bad thing at all.  More countries should self-expel themselves from the IMF.

Sat, 02/09/2013 - 12:36 | 3228699 buzzsaw99
buzzsaw99's picture

The imf exists to protect the bankers and extract a pound of flesh. Argentina is no worse off under gubbermint control than we are under kleptocratic control. Crime pays extravagantly.

Sat, 02/09/2013 - 15:58 | 3229085 wee-weed up
wee-weed up's picture

Agreed... the IMF is a corruption facilitator - not a corruption preventer.

Sat, 02/09/2013 - 12:28 | 3228682 Rustysilver
Rustysilver's picture

This is not a problem; only socialist countries are affected. Oh, wait...

Sat, 02/09/2013 - 12:29 | 3228683 lasvegaspersona
lasvegaspersona's picture

sad sad sad

tick tock tick tock tick tock

Sat, 02/09/2013 - 12:30 | 3228684 nmewn
nmewn's picture

"Top government officials have called on Mrs. Kirchner to amend the constitution so she can seek re-election in 2015. To do so, her coalition would need to win more congressional seats in October."

lol...like who? Her family members and cronies in top government positions?

Roll out the tanks, we don't like these silly rules we've made to live by! They're an impediment to the good deeds Der Furher has planned for us all!

Sieg, Heil!!!

Sat, 02/09/2013 - 13:34 | 3228790 BanksterSlayer
BanksterSlayer's picture

So the people in Argentina still expect their government to adhere to their Constitution? Silly people. Why doesn't Evita just use the magic power of the Executive Order? Declare the Fourth Estate as a Terrorist, send in a couple of drones, and be done with it.

Sat, 02/09/2013 - 12:33 | 3228690 ciscokid
ciscokid's picture

Gold!! anybody?

Sat, 02/09/2013 - 12:34 | 3228692 Jack of All Trades
Jack of All Trades's picture

Coming soon to a country near you.

 

Directive 10-289

Sat, 02/09/2013 - 12:37 | 3228700 andrewp111
andrewp111's picture

Maybe she will go out in a blaze of glory in a new Falklands war, as parts of London and  Buenos Aires go up in mushroom clouds. She had better buy or build her nukes fast if she wants to take on the British before she is taken out by food riots.

Sat, 02/09/2013 - 13:30 | 3228783 Karlus
Karlus's picture

The only way anyone would allow GB to nuke is if London got hit first....

Sat, 02/09/2013 - 15:55 | 3229078 lincolnsteffens
lincolnsteffens's picture

Oh, GB would not allow itself to be so insensitive. That would be an

act of moral depravity and an gross indifference to human life.

Sat, 02/09/2013 - 16:05 | 3229096 wee-weed up
wee-weed up's picture

As fucked up as GB is economically, I doubt they would have the stomach to wage another war thousands of miles away like they did over 30 years ago. The world is much different now. I don't think those freezing rocks down in the South Atlantic would be worth it.

Sat, 02/09/2013 - 18:44 | 3229416 TheGardener
TheGardener's picture

So the Malvinas get liberated and London rebuilt into
a proper city ? Radiation is overrated, growth upon the
City ? No price too high !

Sun, 02/10/2013 - 00:56 | 3229952 Parrotile
Parrotile's picture

Countries can always find money to wage ward. Finding money to look after the needs of the population is an entirely different matter of course . . . .

Sat, 02/09/2013 - 12:38 | 3228703 Joe A
Joe A's picture

Well, they can always invade the Falklands to take attention away from rising prices.

Sun, 02/10/2013 - 01:00 | 3229956 Parrotile
Parrotile's picture

Well another Falklands Conflict would be very bullish for BAe Defence Systems stocks.

Any "future invader" of these particular rocks might be in for quite a surprise. The particularly bleak "climate" has turned out to be an excellent testing ground for a lot of "interesting weapons technologies".

Sat, 02/09/2013 - 12:38 | 3228705 blabam
blabam's picture

Remember, there are a lot of women out there who believe the world would be a better place with more women in charge. Fucking lol.

Sat, 02/09/2013 - 12:57 | 3228737 W74
W74's picture

Watching a movie last night in the theatres (zero-dark thirty, the first movie I've seen in theatres in over a year and which promotes the tortureing of innocent freedom-loving mountain and desert dwelling peoples) I said to my friend during a scene when the protagonist (a young control-freak female) meets another character on the team and that they were going to be working together I said "ut oh, two women in the workplace, this can't end well" loud enough for the people a row ahead and diagonal to hear.  Of course the ladies in that group turned around with scowls (because they knew it was true).  Well in the end the older woman (head strong, knew what she was doing) decided to circumvent protocol and got not only herself but 6 men (expendable I guess) killed.  The protagonist later got her boss fired and took control over the guy who replaced him.

If you want to impliment a communist/facist regime whether here on in Argentina you can forget about Stalin or Andrescu, just find a woman with a power kick and she'll do a far more vicious job of tearing a cuntry apart for power and personal gain.

Sat, 02/09/2013 - 13:36 | 3228795 BanksterSlayer
BanksterSlayer's picture

Enter, Stage Right ... HILLARY CLINTON!

Sat, 02/09/2013 - 16:10 | 3229107 wee-weed up
wee-weed up's picture

W74 said: "innocent freedom-loving mountain and desert dwelling peoples"

Oh, pah-leeeeze!!!

Sat, 02/09/2013 - 16:22 | 3229141 Rick64
Rick64's picture

It makes no difference whether its a man or a woman, its how much control you have over your ego.

Sat, 02/09/2013 - 13:48 | 3228719 Monedas
Monedas's picture

Ask that know it all .... government hole licker .... Chris Hedges .... he'll tell us what they need to do !

Sat, 02/09/2013 - 12:47 | 3228722 Kaiser Sousa
Kaiser Sousa's picture

my lady hates when i use the word cunt while driving on the freeway in the "pot hole" state (California)

 

Kirchner - what a fucking cunt you are...................

Sat, 02/09/2013 - 14:00 | 3228837 haskelslocal
haskelslocal's picture

Get out of your car when you say that!

Is a Cunt a Pot Hole?

Sat, 02/09/2013 - 15:14 | 3229003 Kickaha
Kickaha's picture

I am certain you could Google many images of a young woman "smoking" a blunt with her private parts.  The internet is good for finding such things.

Sat, 02/09/2013 - 12:49 | 3228724 Bunga Bunga
Bunga Bunga's picture

The elites hate Argentina for defaulting on government debt.

Sat, 02/09/2013 - 12:57 | 3228735 AnAnonymous
AnAnonymous's picture

Ummmm.... Buzzzzer.... Wrong.

Sat, 02/09/2013 - 13:48 | 3228815 Tsunami Wave
Tsunami Wave's picture

"They hate us for our pollutions"

Signed: A chinese citizensism citizen

Sat, 02/09/2013 - 16:33 | 3229179 Rick64
Rick64's picture

  I agree. Who owns the newspapers? The elites.  The elites just saw their profits decline. This is a battle between the elites and Kirchner the same battle that Chavez has been in.  The MM is always owned by the elites which report more disinformation than factual info to their advantage. The IMF is of course on the side of elites. They want to get control back and to sway public opinion to elect their puppet in the next elections.

Sat, 02/09/2013 - 16:49 | 3229208 machineh
machineh's picture

The elites hate Argentina for defaulting on government debt.

So do the Italian grandmothers who held their life savings ... 50 or 100 thousand euros ... in what they thought were 'safe' Argentine bonds.

They got thirty cents on the euro.

Glad it wasn't your granny ...

Sat, 02/09/2013 - 12:49 | 3228726 Rusty Diggins
Rusty Diggins's picture

Two dry fingers for the stinker, poor average anyman in that place.

Sat, 02/09/2013 - 12:51 | 3228728 Schmuck Raker
Schmuck Raker's picture

Does this include junk mail?

It would be tempting to support such a policy.

Sat, 02/09/2013 - 12:53 | 3228729 AnAnonymous
AnAnonymous's picture

Hard to imagine 'american' nations banning advertizing in media.

How would you convect marketing and mass consumption without advertizing?

Sat, 02/09/2013 - 12:53 | 3228730 Quinvarius
Quinvarius's picture

Women are incapable of learning from their own mistakes or the mistakes of others.  All they know is "I want".  Argentina has a woman president and a woman central banker.  They are going to go straight down the toilet.

Sat, 02/09/2013 - 12:59 | 3228741 AnAnonymous
AnAnonymous's picture

You mean that an 'american' male put in charge could change the situation?

Well, the only thing an 'american' male would change is the perception of his job.

Argentina could fare even worse that 'americans' would cheer up at the success of their 'american' ways.

Great improvement for the Argentineans.

Sat, 02/09/2013 - 13:08 | 3228754 Quinvarius
Quinvarius's picture

I am saying you can easily find a white male capable of honestly putting his own interests and bias aside and fixing the issue. You cannot find a woman that can do that anywhere.

Sat, 02/09/2013 - 13:16 | 3228760 AnAnonymous
AnAnonymous's picture

I am saying you can easily find a white male capable of honestly putting his own interests and bias aside and fixing the issue.
_______________________

Woooo, strongly reduces the number of elegible candidates.

From the go go, you can rule out any 'american', male or female from the list, able of honesty and putting own bias aside, fixing an issue. Three things 'americans' are unable to do.

Severely reduces the pool of white males able to do the job...

Sat, 02/09/2013 - 13:59 | 3228827 Ham-bone
Ham-bone's picture

Seriously, what stupid generalizations...there are no lack of great men, women, American, Argentinian, etc. who want to do "the right thing" for their families, communities, and nations but alas the nature of the systems are the true failure and the people are failing for not correcting this.

Cloward-Piven gone global.

Sat, 02/09/2013 - 14:30 | 3228890 AnAnonymous
AnAnonymous's picture

There is no shortage of 'americans' either.

Quite the issue of the present world.

Sat, 02/09/2013 - 16:38 | 3229189 Rick64
Rick64's picture

It makes no difference whether its a man or a woman, its how much control you have over your ego.

Sat, 02/09/2013 - 14:53 | 3228959 jerry_theking_lawler
jerry_theking_lawler's picture

don't you think this may have been why the founding fathers did not allow women to vote. just saying....they were all really smart guys.

Sun, 02/10/2013 - 00:34 | 3229895 NaN
NaN's picture

Quinvarius: "Women are incapable of learning from their own mistakes..."

Announcing your bigotry and stupidity to the world is not very wise.

 

Sat, 02/09/2013 - 12:55 | 3228734 adr
adr's picture

Barhammy Obammy's new economic advisor team:

Price Control Czar
Advertising Directive Czar
Presidential Skeet Shooting Czar
Disinformation Czar
Inflation Adjustment Czar
Michelle Makeup Procurement Czar
Middle Class Assrape Czar

Bammer must be watching Argentina, yelling, "Now that's how you run a country, bitch. Oh hell yeah."

Sat, 02/09/2013 - 13:26 | 3228772 W74
W74's picture

You know how zoos have a team that goes around scrubbing some of the larger animals (like Hippos) to keep them clean and healthy?  I think we need one of those for Mooch-elle.  I imagine she STINKS, both naturally and from that stench produced by layers and layers of folded rolls (like Hippos).

Sat, 02/09/2013 - 16:15 | 3229119 wee-weed up
wee-weed up's picture

From now on, you best look up when ever you go outside. Just sayin'...

Sat, 02/09/2013 - 16:34 | 3229183 Richard Head
Richard Head's picture

$50 says Obummer never goes skeet shooting again for the rest of his life.

Sat, 02/09/2013 - 12:58 | 3228736 Smegley Wanxalot
Smegley Wanxalot's picture

President Cristina Kirchner is another "wise latina" according to Comrade Barack.

Sat, 02/09/2013 - 13:35 | 3228791 Karlus
Karlus's picture

The good news here is when push comes to shove and things get violent a certain race and sex have shown an amazing accumen for waging war.

I wouldnt put my money on wise latinas or anyone like that to last too long.

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