The improbable economic growth of Argentina.

Over the last hundred years or so, Argentina as swung violently, and with increasing frequency, between policies of on the one hand constitutionalism, rule of law, and the free market, and on the other hand populism, bureaucratic decree, and national socialism.  It has also swung violently between being one of the wealthiest countries in the world, and being a typical third world poverty stricken hellhole.

After the last crisis, it swung violently towards national socialism, populism, and bureaucratic decree – and yet is reportedly experiencing tremendous economic growth, greatly reduced poverty, vastly improved equality, social justice, public health, great medical care, and so on and so forth.  And everyone is reportedly happy and loves the government for its wise, good, and successful policies.

Reported real growth in GDP is 8%pa.  Reported inflation was 3.6%pa. 

Actual inflation was 21.6%pa, which would mean real growth was something like 8%+3.6%-21.6%, which is negative ten percent per annum, a massive economic shrinkage, at which rate they will be back to third word hell hole mighty fast.

Now that we are hearing less of the wonderful health care of Cuba, we will probably be hearing more of the wonderful economic growth of Argentina.