Imperial Debt Tyranny Sparks Argentina Riots

by rebel alliance

Wed, Dec 12, 2001 1:27AM

Impending default on Argentina's neoliberal debt to the Empire is creating an enormous social crisis, sparking massive protests and riots. Imperial Liberals commented: "Hey, I've got a lot of debt myself, college loans and Ikea."

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§laissez-faire boomerang

by anticapantistate

Wed, Dec 12, 2001 11:04PM

Just a few years ago Argentina was the shining star of market fetishists. But like Enron, and all the buried dot-coms, Argentina couldn't float upward in a bubble of speculation forever, and now the laissez-faire creeps are eating crow.

According to the December 3rd edition of BBC, Argentina was the 10th richest country in the world in 1913. It's now the 36th. Official unemployment --always assessed conservatively -- stands at 18%. In the past year state pensions and wages over $500 a month have been cut by 13%, and private sector wages have been slashed by 20%.

The Argentine government is now taking measures to avert a run on the banks and the possibilty of a mass devaluation of its currency. With Christmas coming people are pushed to pay on credit -- a boon to the rentiers -- but despite this retail is down 45% from last year. In addition, the gov is trying to push through another round of drastic austerity in order to get another installment of IMF money.....

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