Don’t Cry for Argentina, Cry for Venezuela

Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Argentina last week failed once again to elect a statesman who can make the country great again.

It has been more than 100 years since Argentina was ranked one of the richest countries in the world due its agricultural prowess. But it’s been downhill since Juan Peron and his fellow Peronists ruled the South American country. There have been attempts to reverse the downward trend, such as the election of Carlos Menem (1989-1999) and more recently Mauricio Macri (2015-2019).

Unfortunately, both Menem and Macri failed to overcome the big spending policies of the Peronists and made the mistake of financing the growing deficits through inflation.

Now the Peronists will be back in power in November. The disaster continues.

But it can’t be worse than Venezuela. Speaking of which…

In 1968-69, Dave Phillips and I were Christian missionary companions in Venezuela and later Colombia as part of the newly formed Colombia-Venezuela mission… And we’ve been friends ever since.

Dave Phillips and Mark Skousen serve as missionaries together in Venezuela in 1968.

Dave is the founder and president of Phillips Estate Planning Specialists, Inc., in Arizona, and comes every year to FreedomFest to speak on estate planning and insurance. (Go to his website

Fifty years ago, Venezuela was the richest country in South America and ranked #10 in terms of economic freedom. Colombia was one of the poorest nations in South America, suffering from crime and illegal drug smuggling.

Now it’s a reversal of fortune. According to the latest Heritage Foundation’s Economic Freedom Index, Colombia is now the #1 freest country in South America, and one of the richest, and Venezuela is the least free and one of the poorest (#32, dead last, even worse than Cuba, #31).

Exclusive  Analyzing 3 of the Best Blue-chip Stocks to Buy Now

Who would have guessed? Can’t any of the Latin leaders learn from the Chile model?

share on:

Like This Article?
Now Get Mark's FREE Special Report:
3 Dividend Plays with Sky-High Returns

This newly-released report by a top-20 living economist details three investments that are your best bets for income and appreciation for the rest of the year and beyond.

Get Access to the Report, 100% FREE

previous article

Investing expert Jim Woods writes about the Business Roundtable's recent statement.

share on:


Dr. Mark Skousen

Named one of the "Top 20 Living Economists," Dr. Skousen is a professional economist, investment expert, university professor, and author of more than 25 books.

Product Details

  • Forecasts & Strategies
  • Home Run Trader
  • Fast Money Alert
  • Five Star Trader
  • TNT Trader

Bryan Perry

A former Wall Street financial advisor with three decades' experience, Bryan Perry focuses his efforts on high-yield income investing and quick-hitting options plays.

Product Details

  • Cash Machine
  • Premium Income (exclusively for subscribers of Cash Machine)
  • Quick Income Trader
  • Breakout Profits Alert
  • Hi-Tech Trader

Jim Woods

Jim Woods has over 20 years of experience in the markets from working as a stockbroker,
financial journalist, and money manager. As well as a book author and regular contributor to
numerous investment websites, Jim is the editor of:

Product Details

  • Successful Investing
  • Intelligence Report
  • Bullseye Stock Trader

Bob Carlson

Bob Carlson provides independent, objective research covering all the financial issues of retirement and retirement planning. In addition, Bob serves as Chairman of the Board of Trustees of the Fairfax County (VA) Employees’ Retirement System, which has over $2.8 billion in assets.

Product Details

  • Retirement Watch
  • Retirement Watch Spotlight Series
  • Lifetime Retirement Protection Program

Jon Johnson

Jon Johnson's philosophy in investing and trading is to take what the market gives you regardless if that is to the upside or downside. For the past 21 years, Jon has helped thousands of clients gain success in the financial markets through his newsletters and education services:

Product Details

  • Investment House Daily
  • Technical Traders Alert
  • Success Trading Group

Used by financial advisors and individual investors all over the world, is the premier provider and one-stop shop for dividend information and research.

Product Details

Popular tools include our proprietary Dividend Calendar, Dividend Calculator, Dividend Score Card, and many more.

  • Dividend Investor