Soon the state was left without money to continue its subsidy scheme. But the thrust of death came with the election of Juan Domingo Peron, corporatist fascist extraction, which focused on destroying the rich and encourage popular with middle and lower classes, creating massive social programs and monstrous form unions. High taxes and progressive rhetoric persisted after Peron and the government continued to grow beyond all limits. Hyperinflation exploded in 1989. Final phase of a process characterized by industrial protectionism, redistribution of wealth based on high taxes and greater state intervention in the economy. The government practice of printing money to pay the public debt destroyed the economy. Inflation reached 3,000 percent, the country plunged into chaos.
In 1994 the pension fund had collapsed. Taxes on wages increased from 5% to 26%, but not enough. VAT implemented, new income tax, personal tax and wealth. That destroyed the private sector further damaging the economy. It tested an attempt to privatize government-controlled to save the pensioners, but in 2001 these funds were consumed by the government and Argentina went into default for not having wherewithal to cover the bonds. For 2002 fiscal irresponsibility led to a crisis similar to the U.S. Great Depression. In 1902 Argentina was one of the richest countries in the world.
One hundred years ago to cover its debts writhing amid the drought. Film is forever. It is the progressive ideology that has not yielded positive results nowhere ever in history, because it touches the state ends up in bankruptcy. The current Argentina folk Third is a caricature. Cristina does not dare to travel to China for failing to leave the country in the hands of his vice president, who distrusts, destroying trade opportunities for over 3,000 million dollars. Want to arbitrarily dismiss the chairman of the Central Bank to be sensible and responsible, will not let you use the reserves of the Treasury to pay debts. The government instead of making a structural change and turn toward the center, which is all that can save Argentina, continues stubbornly to their ancient and pernicious Peronism, now flying the flag of the far left, making the country's slide precipitously over the cliff.