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COMANDANTE PRESIDENTE FERNANDEZ de KIRCHNER
Believe it or not, this is a recent picture of Hillary-clone
Cristina Fernandez Vda de Kirchner. She, like (Sir
Edmund)Hillary, rode to her position entirely on the
horse of her dead husband who had also been President
of Argentina at one time. He also drove the Silver
Republic into bankruptcy. Young Commies turn into
old, decrepit socialists who like to live in palaces, and
they like to try "just one more time" to make socialism
work. Frumpy, like (Sir Edmund) Hillary, incoherent
and clueless, she throws her ashtrays and sheiks orders
but she is a sad thing full of sound and fury meaning
nothing. There is not even enough money to float one
warship over to the Falklands to demand that the
Falklands surrender to Argentine rule.
It grieves El Gringo Viejo that his ego forces him to
gloat. He does not gloat because the Argentines are
suffering, as are the people of Cuba and Venezuela, where
there are many, many good people. He is discomfited
because he cannot resist gloating about the accuracy of
his diagnosis of the inevitable result of taxing the rich to
death and giving away "free" things to the hoi polloi in
a desperate attempt to become the Nueva Evita.
Eva Duarte de Peron, Juan Peron's second wife, ruled
as a queen briefly in Argentina before dying at the age of
33 from female cancer of some sort. Cristina was a
member of a marxist militia during her collegiate
period and has/had something of a "Che" mystique
among the stupid and the permanent wave of puedo-
college students who find out that there is poverty
and want in the world, and that it is America's
fault (Barry Soetoro's First Law of Civilisation).
In a serious vein, Mrs. Fernandez de Kirchner is thought
to be seriously ill, debilitated from the frustrations of
what were probably sincere best wishes and efforts.
But Bolshies never learn that you can't thread a needle
with a meat-grinder. What is also certain is, that even
as we write, the Argentine Peso has lost another 1/4 of
a per cent of its value, even against the weak dollar.
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First came the default, then a proposed debt swap aimed at circumventing a U.S. court ruling that could normalize Argentina’s relations with foreign investors. Now traders foresee a devaluation for the second time this year.
Argentina’s peso sank 1.5 percent this week to 8.4025 per dollar, the biggest drop since the government devalued the currency 15 percent in the week ended Jan. 24. In the black market, where Argentines go to avoid government limits on purchases of U.S. currency, the peso weakened to a record 13.95 per dollar yesterday.
Argentines are demanding more hard currency after the government proposed exchanging overseas debt into notes governed by local law. The plan means it’s less likely President Cristina Fernandez de Kirchner will negotiate a deal with holdout creditors that would lift the court order that has prevented the country from servicing its obligations, according to Bank of America Corp. Prolonging the default would then restrict Argentine borrowers’ access to international markets, putting pressure on policy makers to allow the peso to weaken as dollars become scarce.
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More later on this and other topics.
El Gringo Viejo
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