South America

Argentina is once again out of options to satisfy creditors; will the United States follow?

Despite a ferocious crackdown on beleaguered protesters by the socialist regime in Venezuela that has left at least 15 dead so far, demonstrations against totalitarianism and economic collapse across the nation are still growing. While “President” Nicolas Maduro, successor to the late socialist strongman Hugo Chávez, has secured the support of government workers and fellow autocrats in the region, analysts say the escalating uprising has the potential to ultimately bring down the Venezuelan regime — and possibly other tyrants in the region.

 

 

With the Venezuelan economy in full-blown meltdown and massive protests escalating across the embattled nation, the socialist regime of “President” Nicolas Maduro has taken to deploying troops, mowing down student protesters, terrorizing critics, and even arresting leaders of the political opposition. Instead of addressing the root cause of the turmoil — socialism, corruption, soaring inflation, and tyranny — authorities in Venezuela are doubling down and shifting the blame, Chavez-style, onto a foreign “conspiracy” and right-wing “fascists.” At least several protesters have been shot dead so far, with dozens wounded.

Now that credit rating agency Standard & Poor’s has ended the suspense by announcing that it is cutting Puerto Rico’s $70 billion worth of general obligation bonds to junk status, questions about the island’s economic future abound.

Argentinians are discovering once again that using massive debt obligations and inflation to increase the country's prosperity reflects fatal economic ignorance. 

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