Thursday, September 21, 2006

Tinkerbell K

Yesterday, Argentina's beloved human rights conscious president, Néstor Kirchner, was present at the NYSE to ring the bell that started operations in the mecca of capitalism. It is paradoxical, coming from a president whose mandate will be associated to high legal insecurity, a freeze on the bondholders' oustanding debt following the country's debacle at end 2001, and 2003-level prices for inflation-sensitive prices (crude, oil products, utility fares, etc).

Similarly, Kirchner is well-known in his Southern homeland for his gratuitous sense of humor, his excessive self-confidence, and his success in securing votes and popular support despite his total absence of charisma. Of course, he is also famous for his diatribes against the IMF, the US, and whatever looks like the "right", either domestically or abroad. However, he could not resist the temptation to have some "pro-market" anecdote attached to his period in office, and he accepted the invitation to Wall Street.

In years to come, when Argentina suffers yet another crisis and his government is finally revealed for what it is, another stage in the long-lasting comedy of manipulations that shapes this country's fate, everybody will be once more cursing, and shocked to have believed "this time was different". Do not be deluded. K is only another card in the game, and will go down with irritating anecdotes, just as his predecessors have since Independence was declared.