Sep 202009

I wonder if this is what John Maynard Keynes meant when he said, “In the long run we are all dead.”

From the Washington Post: “Despair in Once-Proud Argentina : After Economic Collapse, Deep Poverty Makes Dignity a Casualty” by By Anthony Faiola

Argentines have watched, horrified, as the meltdown dissolved more than their pocketbooks. Even the rich have been affected in their own way. The tragedy has struck hardest, however, among the middle class, the urban poor and the dirt farmers. Their parts of this once-proud society appear to have collapsed — a cave-in so complete as to leave Argentines inhabiting a barely recognizable landscape.

With government statistics showing 11,200 people a day falling into poverty — earning less than $3 daily — Buenos Aires, a city once compared to Paris, has become the dominion of scavengers and thieves at night. Newly impoverished homeless people emerge from abandoned buildings and rail cars, rummaging through trash in declining middle- and upper-class neighborhoods. People from the disappearing middle class, such as Vicente Pitasi, 60 and jobless, have turned to pawn shops to sell their wedding rings.

What a way to go, though!