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12/5/11

Morgan Stanley reads Argentina badly, as usual

Here's how today's Morgan Stanley regular "This Week In Latin America" pdf kicks off:

Argentina: The Return of Orthodoxy? by Daniel Volberg.
While most investors will be watching the European summit next weekend, we will be watching Argentina for the names of the new cabinet ministers for signs that the new administration may be about to take an orthodox turn. Indeed, we think the most likely outcome is tighter fiscal and monetary policy along with moves to limit wage increases—all designed to regain control over Argentina’s inflation problem

This is what Kirchner inner circle member Daniel Filmus said today:
No surprises. According to Senator Daniel Filmus, the new Cristina Kirchner ministerial cabinet will not have any great changes.


"The cabinet will be, in general terms, the same as that which since 2003 has brought the transformations to the country. There aren't any surprises (in store)."

MS is quite good on other LatAm countries (esp Brazil and Mex) but its coverage of Argentina is consistently dumbass. Personally I think it's the fact that Capitalist mainstream commentators just can't get their brains round the fact that a country doesn't have to do what it's told to by the North in order to grow and prosper. So Daniel Volberg, this one's for you: