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News Link • Economy - Economics USA

Argentina: A Case Study in How An Economy Collapses

 "When you ask any Argentinean person what concerns them the most, the first thing they’re going to be telling you is the crime problem. And the second one is the financial problem. Those are by far the top concerns the average Argentinean person has and I think that eventually it will happen in the U.S.A., as well. I think that five years from now or so you’re going to be talking to people and the thing that’s going to be concerning them is that Joe down the street suffered a home invasion and got beaten up, maybe even got killed. All kinds of crime that didn't used to happen in the good parts of town. It’s going to be one of the greatest concerns people will have eventually.

And, of course, the financial situation as well. If you look into what people are worried about right now they’re worried about losing their jobs not being able to put food on the table the next month. They see that if they lose their jobs it’s not as easy as it used to be to find another one as well. That’s terrible because it’s very cold when you look at it in numbers but it’s—I’m telling you—it’s so much different when it happens on a social level and you see that on the street . When you see the people picking up garbage on the streets to eat."

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