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Malbec World Day (Henry Levin, USA, 04/23/12 1:42 am)

And, while raising that glass of Malbec and celebrating the great Lionel Messi, we should ask what the f---  Cristina Fernández de Kirchner is doing in charging her economists who report inflation honestly with a crime against the people and nationalizing YPF, which is largely an investment of Repsol, the Spanish oil company. This is even bigger than the Spanish monarch's expensive trip to Africa to kill an elephant. Perón has again arisen from the grave. Of course, it is Easter season.

JE comments: I'm still angry at King Juan Carlos, and plan to be for a long, long time. However, today is Malbec World Day, and Argentina is in the spotlight. Is President Fernández de Kirchner (CFK) capitalizing on her election landslide of last October to revive Perón's hoary "third path" economics? As our colleague Robert Whealey always says, she should read her history: it was inflation that led to Perón's ouster. Even more ominously, presidents in Argentina have rarely been good at completing their second terms. Inflation can only be swept under the rug for so long, and then it can only be contained with austerity (read: pain). I'm glad I'm not an adviser in the Casa Rosada.

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