Is Christine Lagarde clowing around with the IMF’s expulsion loophole? See you in September.
IMF censures Argentina, threatens “expulsion”: http://www.imf.org/external/np/sec/pr/2013/pr1333.htm
Economist Magazine on the censure: http://www.economist.com/news/americas/21571434-fund-blows-whistle-motion-censure
Chart contrasting the official and unofficial rates: http://www.ambito.com/economia/mercados/monedas/dolar/
Chart of US Dollars to Argentine Pesos: https://docs.google.com/file/d/0B16Nxp5pgJBzVHVBaGxaZHk1TVk/edit?usp=sharing
Paul Krugman gets down on Argentina’s “remarkable success story”: http://krugman.blogs.nytimes.com/2012/05/03/down-argentina-way/
It’s been a year since The Economist’s report on the book cooking: http://www.economist.com/node/21548229
Forbes on the book cooking back in May of 2012: http://www.forbes.com/sites/timworstall/2012/05/04/paul-krugmans-very-strange-ideas-about-argentinas-economy/
Here’s Dave’s question. When you force an agreement out of the grocery stores not to raise prices for sixty days and then you ban media from advertising prices and independent (i.e. non-government sanctioned) inflation reports, are you really losing anything? If retailers are unable to make a profit selling bread or milk and therefore they run out of bread and milk do you really need newspapers because what retailer is going to want to advertise their bare shelves?
I almost forgot. Newspapers are for reporting the news and I guess the news is that there is a disparity between the official government inflation reporting figures and the actual inflation figures. I guess the newspapers can write a story about that.
I almost forgot. Without advertising the newspapers can’t afford to print and distribute the news. I guess they will have to shut down all the media outlets and lay everyone off… that would be terrible.
I almost forgot. Inflation comes from too many pesos chasing too few goods. If everyone in the media loses their jobs then they won’t have too much money to chase too few goods… they’ll have too few pesos to chase too few goods and that ought to solve the problem and get us back to the “remarkable success story” that Paul Krugman wrote about back in May.
Speaking of “remarkable success stories” please click on this AOL Wall Street Journal video report. It’s only had 47 views so far… remarkable.
If you ask Dave, it looks like Paul Krugman’s remarkable success is fraying at the edges: http://www.economicpolicyjournal.com/2013/02/is-krugman-attacking-murray-rothbard.html
It was just nine days ago that Paul Krugman and Joe Weisenthal were giving us the “all clear” signal and now this: http://tradewithdave.com/?p=15231