Argentina: Too Important to Fail

["John Gelles" <johng@xxxxxxxxxx>]

        The United States cannot let Argentina fail as a
        democracy and as a going concern,

        Debt can be reorganized. Loans can be swapped
        for equity, extended, refinanced. Whatever it takes
        --the U.S. must cooperate with the government and
        private sector of Argentina. One Cuba is enough.

        Inside the USA we are still contracting--and this
        too will have to be reversed. I hope the voters
        can establish a ceiling for unemployment. I'm
        anxious for that ceiling to be 5%.  If by summer
        we reach 6%, it could mean the Democrats
        take both houses.

        On the other hand, a wise Bush administration
        may usher in a crisis-based boom that will take
        us below 5% and guarantee the Republicans
        win both--and keep on winning.

        The terror of losing your job and losing your
        economic footing may become comlementary
        to the terror of foreign based attacks by
        lunatics.  Bush may see his opportunity to
        defeat both terrors at the same time.

        If he does, a high deficit, low interest, low
        tax regime will be easy to introduce and win
        with a few good speeches and some solid
        gains in middle class economic security.

        Why would the Republicans do anything
        different?  They can't win if the middle
        class in Argentina and the USA loses.

            John Gelles