"The project was so successful that the next three generations lived off of the wealth. They had big houses in Buenos Aires and apartments in Paris. They had servants...and most of them didn't work at all."The big problems came in the late 1980s. Then, we had inflation of 20,000%. It was almost impossible to keep up. Or to plan ahead. Wages...the cost of fuel...transportation...everything went up."Then, the Raúl Alfonsín government imposed price controls...on sugar, of course."That, and weak management – there is no guarantee that every generation is going to be as dynamic as the first – caused everything to fall apart."By the late 1980s, all we could do was sell out. We got enough to pay our debts. That was about it."
Gold Price News
Gold Investing In Depth
Gold Investment Analysis
Bill Bonner has co-authored a number of New York Times Bestsellers including Financial Reckoning Day, Empire of Debt and Mobs, Markets and Messiahs. In his own opinion, Bill's most recent title, A Modest Theory of Civilization: Win-Win or Lose, is his best work yet. Bill also founded The Agora, a worldwide community for private researchers and publishers, in 1979. Financial analysts within the group have exposed and predicted some of the world's biggest shifts since that time, starting with the fall of the Soviet Union back in the late 1980s, to the collapse of the Dot Com (2000) and then mortgage finance (2008) bubbles, and more recently the election of President Trump.
See full archive of Bill Bonner articles
Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News.