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IPFS News Link • Argentina
Argentina's Faded Dream Is a Warning to America
• Doug Casey's Crisis InvestingLast week, my missus, the kids, and I left our green refuge in Paraguay for the country of Argentina.
Despite being just a 2-hour flight from Asuncion, the capital of Paraguay, Buenos Aires feels worlds apart. Asuncion is cozy and relaxed, while Buenos Aires boasts grand European-style buildings, a bustling vibe, and crowds always in a rush. Plus, being in the Southern Hemisphere, the weather is much colder here in winter.
Whenever I'm Argentina, I'm reminded of what the country could have been.
Not many people know this, but in the late 19th century, Argentina was the richest country in the world. It had a GDP per capita of $5,786, with the United States in second place and Belgium in third.
In fact, Argentina was so rich that the French used the phrase "riche comme un Argentin" ("rich as an Argentinian").