Lessons from Argentina’s Economic Collapse
From The Silver Bear Cafe
(Editor’s note: the article that follows is a very sobering account of the effect that the collapse of the Argentine economy (1999 – 2002) had on its citizens, as seen through the eyes of one of them. The economic collapse wiped out the middle class and raised the level of poverty to 57.5%. Central to the collapse was the implementation of neo-liberal policies which enabled the swindle of billions of dollars by foreign banks and corporations. Many of Argentina’s assets and resources were shamefully plundered. Its financial system was even used for money laundering by Citibank, Credit Suisse, and JP Morgan (sound familar?). The net result was massive wealth transfers and the impoverishment of society which culminated in many deaths due to oppression and malnutrition. I am not sure the same thing is about to happen here, but I am sure that there is a distinct possibility that it might. Just food for thought – JSB)
Wednesday, 13 December 2006
For western countries such as the UK, the first major problems of Peak Oil, assuming there are no oil shocks, will not be the shortage of oil but the economic crises that will occur. Argentina is a recent example of a country that suffered a serious economic crisis, and although Argentina and the UK are not identical, anyone interested in how economic crises can affect individual lives will be very interested in the following vivid description of life for an Argentinian following the economic collapse.
My brother visited Argentina a few weeks ago. He’s been living in Spain for a few years now.
Within the first week, he go sick, some kind of strong flu, even though climate isn’t that cold and he took care of himself.
Without a doubt he got sick because there are lots of new viruses in my country that can’t be found in 1st world countries.
The misery and famine lead us to a situation where, even though you have food, shelter and health care, most others don’t, and therefore they get sick and spread the diseases all over the region.
What got me started on this post is the fact that I actually saw this coming, and posted on the subject here at Frugal’s, months before the new viruses spread over the country and the news started talking about this new, health emergency, which proves that talking, thinking and sharing ideas with like minded people (you guys), does help to see things coming and prepare for them with enough time.
So I started thinking about several issues, what I learned (either the hard way or thanks to this forum) after all these years of living in a collapsed country that is trying to get out an economical disaster and everything that comes along with it.
Though my English is limited, I hope I’m able to transmit the main ideas and concepts, giving you a better image of what you may have to deal with some day, if the economy collapses in your country.
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