Tuesday, April 17, 2012

So Lets Have Another Little War

In the name of maximizing domestic production, the good little socialist President of Argentina has decided to nationalize a Spanish owned oil company YPF and setting of a diplomatic confrontation with Madrid. Just what the Spanish need in the wake of Iran announcing that it will cut off oil shipments to Spain is serial failure Argentina expropriating another source of oil it desperately needs even if it economy is contracting. The government in Madrid has promised that it have “forceful response.” This is of course open to a variety of interpretations but it’s unlikely that Spain can handle having $5 Billion sucked out of its economy at the point of it already facing imminent collapse.

Never mind that Spain was the first if not the only European nation to come to Argentina’s aid during their latest currency failure. But I guess this is how Argentina’s President Fern├índez and would be Avita Peron thanks Spain for its help.

If there is any country in South America that has mimmicked Europe’s failed welfare stateism it is Argentina. Just how many times does it’s economy have to collapse before it becomes apparent that this socialism crap just does not work?

Meanwhile back in Spain where unemployment is at 23% and youth unemployment is over 50%, the Cental government is talking about taking over the financies of the provences because their even more out of control than the cental government’s. Now looking down the barrel of another $5 billion hole in its GDP one can only imagine the anger and panic set in motion by this little backstabing from Argentina. So much for Ibero American solidarity.

Neither can the dithering hands of the EU in Brussels be happy at this. One more unpredictable turn of events threatining the EU ponze scheme. If it all was not so economicly dangerous it would be hilarious.

Well it’s not like Spain could actually go to war with Argentina but I’d bet they wish they could. One would have to wonder just how Obama will stick his bumbling fingers into this pie and make things even worse. But then I’m sure his refering to the Malvinas Islands as the Maldives has so endeared him to the hearts of the Argentines.

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