Monday, December 26, 2011 – by Staff Report, Daily Bell
Is Latin America's Boom Over? A Pall, Personal and Economic, Falls Over a Regional Summit ... A pall was cast over the summit of Mercosur nations in Uruguay this week when Iván Heyn, Argentina's Undersecretary for Foreign Trade, was found dead, hanged with a belt in his Montevideo hotel room. Heyn, only 34, was a rising star and close friend of the family of Argentine President Cristina Fernández de Kirchner, who was just sworn in Dec. 10 after her landslide re-election victory. Visibly upset, Fernández, who is taking over as chair of the South American trade alliance, could have been speaking in a personal as well as macroeconomic context when she told her fellow heads of state at the end of the summit on Dec. 21, "We have to protect each other." Uruguayan investigators say they're trying to determine whether Heyn's death was a suicide or possibly accidental asphyxiation. – UK Telegraph
Dominant Social Theme: Now South America! What's going on, fellows? This ain't fair.
Free-Market Analysis: Oh, boy, who couldn't see this coming? We've written about the BRIC inflationary instability – especially Brazil and India – and now this economic insight has been blessed by that maven of behind-the-times analysis, TIME Magazine.
Yes, TIME Magazine, which only a little while ago, from what we can tell, discovered that China was on the way down, has now figured out that South America is bound to slow down too as its engine, Brazil, sputters and fails. Argentina, of course, has long ceded its economic dominance.
But one needs to ask why should this be? Why should a "boom" yield to a TIME Magazine-analyzed bust? Is it merely the tenor of the times? Is it simply the way the world works? Or is there some other unstated manifestation?
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