C&B Notes

Déjà Vu All Over Again

Argentina’s current political mismanagement, economic struggles, and accelerating inflation are far from rare, as the country has defaulted numerous times since its independence from Spain in 1816.  The citizenry has paid a high economic price — the country was in the top ten of wealthiest nations per capita in the early 1900’s, but had slipped to No. 55 by 2012 (behind nations such as Venezuela, Kazakhstan, and Equatorial Guinea).