Thursday, April 19, 2012

Cristina doing "the Obama" or distracting voters with gimmicks

What's going on down in Argentina? 

First, we hear irresponsible statements about claiming Las Malvinas.  How did that work out the last time that a junta decided to put that stupid idea to a test?  Does Argentina want to get into another war with the UK? 

Second, Pres Cristina Fernandez, an embarrassment of a president, decided to go after foreign investment in Argentina:

"An angry row has broken out between Spain and Argentina after the Argentine government announced plans to renationalise the Spanish oil company YPF.
Buenos Aires has put forward a bill that would allow it to take a controlling stake in YPF, a company owned by the Spanish energy giant Repsol. Shares in Repsol plunged 8% when the stock market opened.
Madrid has promised to take decisive action against Argentina in the next few days." 

This is a very bad move and it should be followed by international repudiation.

And it should start with the US!  Yet, where is Pres BO?  

As far we know, Pres BO did not say anything in Cartagena about this.  Nevertheless, we understand that US investors will be hurt!  Capital markets will also be impacted. 

Argentina can not play in the financial big leagues if they are going to behave like a banana republic.   This action is a display of misguided "populismo" reminiscent of Pres Lopez-Portillo "nationalizing" Mexican banks in 1982 or more recent excesses from Venezuela's Chavez or Bolivia's Morales.

Cristina's motives are clear:  She needs to do an "Obama" or distract voters from the reality facing her government.  

Yes, Cristina wants to dance "the Obama" to distract her population from the corruption and mismanagement down in Buenos Aires.

The world is asking:  Where is Pres BO?  When will Pres BO stand for the rule of law that is essential to attract investors?

Where is Pres BO?  He is on Univision "dancing around" his failure to pass an immigration package by scaring Latinos that Republicans want to send their mothers back to Mexico OR pass laws that will call on the police to stop every driver in the US who looks "hispano". 

Cristina is doing an "Obama" & Obama is doing a "Cristina".  These two are made for each other.  The good news is that we can get rid of Pres BO in November.  The bad news is that Argentina is stuck with Cristina for a few more years!

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