I would think by now that almost everyone understands the consequences of price caps - shortages. When will people understand that government involvement in monetary affairs is what causes graft and corruption? Maybe the Argentinians will look across their border at the Chileans and wonder why they're doing so much better.
The argentinian people are not stupid. They understand perfectly well what is causing the economic problems but are unable to replace their leader with someone better. It is a real tragedy and I hope they will be okay. The zerohedge article is rather biased though, the statistical manipulation in argentina is in no way comparible to the adjustments made by the american BLS, if only because the original data and time series are all available along with multiple different derivations. The BLS has an interesting article where they respond to criticisms over their inflation calculations and I found it to be persuasive.
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