Economics and Investing:
By way of Tam at the View From The Porch blog comes this account of multiple mass inflations in Argentina: “¡Qué Quilombo!” Here is a key quote: “What seems peculiar about Argentina’s case is the government’s Herculean effort to ignore the immutable laws of economics in their pursuit of grand larceny. The country has seen five currencies in just the past century, averaging a collapse every twenty years or so. In 1970, the peso ley replaced the peso moneda nacional at a rate of 100 to 1. The peso ley was in turn replaced by the peso Argentino in 1983 …