IKN

Ask any Argentine about “placas de Cronica”: A national institution

In Argentina, Interior Minister Anibal Fernández responds to the recent media circus cooked up by TV stars (TVland holds the people who truly set the the agenda in the land of estilo no sustancia) and says that Argentina “is the safest country in the region”. IKN agrees, but also assumes that Fernández is referring to the region East of Chile and South of Bolivia/Paraguay/Brazil/Uruguay.

In Peru, the nation’s inferiority complex with Chile is a generous and unending source of political capital for its pathetic and vomitworthy ruling class. The Toledo gov’t (pre-Twobreakfasts) is the one that made the Free Trade Agreement with the USA happen, but now ex-PM of the Toledo era, Carlos Ferrero, says that the brand new FTA with Chile “damages the independence of Peru”. Your humble correspondent is confused about this; how can you damage something that was smashed into a thousand pieces years ago?

In Brazil, Petrobras (PBR) watched the absurd trick Citigroup (C) pulled with its leaked “we’re making a profit” documents and thought “hey! cool! let’s do that too!”. Unfortunately for PBR, unlike the anglosaxon world Brazil actually has a regulatory body that does some work occasionally and now the episode is being investigated. Market Memorandum tells you more on this link.