Mar 28, 2009

CBP en Mendoza, sobre la fascinación argenta por pisar el mismo tereso descalzos cada vez que pasan por esa vereda, absolutamente convencidos de que la próxima vez mutará mágicamente en dulce de leche:

Our friends tell us that a year ago the city was doing very well, thanks to hugely expanding exports of wine. Our local Costco store (in Dana Point, CA) now has a whole section devoted just to Argentine Malbec, which is a close cousin to Cabernet Sauvignon. Most of the Malbec in Argentina is grown around Mendoza. Lately exports have fallen off sharply, and the locals, one of whom we talked to today over lunch, blame it on the Kirchner administration for sharply increasing tariffs on just about all exports. Governments never learn, it seems, especially not here in Argentina. I've followed the economic history of the country since 1980, and I've seen them make the same mistakes countless times: devaluations to boost exports, taxes on exports to boost government revenues, capital controls to keep money from fleeing overseas, wage controls to keep inflation under control, etc. These things never work, they just exacerbate the underlying problems.

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