Re: Argentina's got it right?

[Matias Vernengo <vernengo@xxxxxxxx>]

True it's promising that he wants to "spend its way out of a four-year
recession." So did Lula in Brazil.  However, one of the first measures
was to increase the target primary surplus to 4.5%, in order to get US$
9 billion.  Balance of payments constraints are also binding in
Argentina.  But one can hope I suppose.
Matias

Warren Mosler wrote:

> (also, 'The Euro is NOT a US Problem' is at
> www.mosler.org)
>
> LOOKS PROMISING-
>
> Rio Gallegos, Argentina, May 15 (Bloomberg) -- Nestor
> Kirchner, who yesterday learned that he will be
> Argentina's next president, says his bankrupt country
> should spend its way out of a four-year recession.
>
> ``We're going to have a lot more public works projects
> to inaugurate,'' Kirchner said at the May 10 opening
> of 23 kilometers (14 miles) of newly paved road in
> Santa Cruz, the southern Argentine province he has
> governed since 1991.
>
> Former President Carlos Menem's withdrawal yesterday
> from this weekend's election runoff means Kirchner,
> 53, will have four years to fulfill promises to create
> jobs and revive the economy. Kirchner says he will do
> that by boosting spending for projects such as
> building 3 million homes. As governor, he used oil
> royalties and federal funds to construct highways,
> hospitals and schools, creating 43,000 jobs and
> keeping Santa Cruz's unemployment rate at 3 percent,
> compared with 18 percent nationwide.
>
> =====
> Warren Mosler, www.mosler.org
> c/o James River Capital Corp
> 5007 Chandler's Wharf, Suite 201/202
> Christiansted, USVI  00820
> 340-719-8813 office phone
> 340-719-8804 Fax
> Primary email contact:  mosler@xxxxxxxxxxxxxx
>
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