I am not going to bother employing my army of employees to fact-check this, but it looks plausible enough to quote and walk away… (HT2 somebody in the comments of an earlier post.)
Paul Krugman, May 2012:
Matt Yglesias, who just spent time in Argentina, writes about the lessons of that country’s recovery following its exit from the one-peso-one-dollar “convertibility law”. As he says, it’s a remarkable success story, one that arguably holds lessons for the euro zone.
I’d just add something else: press coverage of Argentina is another one of those examples of how conventional wisdom can apparently make it impossible to get basic facts right. We keep getting stories about Ireland’s recovery when there is, in fact, no recovery — but there should be, darn it, because they’ve done the “right” thing, so that’s what we’ll report.
And conversely, articles about Argentina are almost always very negative in tone — they’re irresponsible, they’re renationalizing some industries, they talk populist, so they must be going very badly. Never mind this…
After this text, Krugman posts a chart showing that Argentina’s real GDP is growing better since 2002 than Brazil’s.
Juan Carlos Hidalgo, November 2012:
Today La Nación of Buenos Aires reports [in Spanish] that Argentina will have the worst record in terms of inflation and growth in South America in 2012. The Argentine economy will barely grow 1% this year and inflation will be above 20%, while the rest of the region enjoys healthy growth and low inflation rates.
Ah but see, Argentina is in the Southern hemisphere, whereas the United States is in the Northern, Juan, so your argument is invalid.