On Sep 30, 2008, at 11:45 PM, Joanna wrote:
> Argentina used to be a rich country (the 6th richest in the world),
> after many years of socializing private debt, the middle class was
> destroyed and the country pauperized.
Argentina was rich in the early 20th century because it exported grain and beef to Britain. It never industrialized, so it followed the path of all commodity exporters: down.
Doug