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Washington Post tells whoppers about Greece and Argentina


This WAPO article by Michael Birnbaum and Anthony Faiola said

“But Argentina differs from Greece in deep ways. Argentina is one of the world’s top 25 economies, a commodity-rich nation that exported its way to growth with soybeans, corn and heavy industries such as steel and cars. “

Aside from putting forth the the magic soybean thesis to explain Argentina’s recovery after its 2001 default, a thesis Weisbrot completely rebutted here,  Argentina did not export its way out of a depression. It recovered primarily by breaking free of IMF “advice”. Argentina is also nowhere close to being a “top 25 economy” today, never mind in 2001 when it was in very deep trouble.

Also, by the typically used measures of GDP (which rank an economy’s size and wealth) Greece is a richer country than Argentina even after several years of catastrophic Troika rule.

I have to give the WAPO credit for being able to pack so many howlers into only two sentences.

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