At The Financial Times: Mauricio Macri Reformer & more. Almost Marx comments

How can Macri be The Knight of Neo-Liberal Faith and Action when he and de Kirchner were both clients of Mossack Fonseca?

Read this TLS review of The Panama Papers by Edward N. Luttwak. A passage worthy of quotation:

If anyone tried to work back from company number 123 to the original money-sending company by way of the 122 companies in between, a lifetime of investigations might not do it, especially because those 122 companies could be registered anywhere in the world, not restricted to the places where Mossack Fonseca had and still have offices, to wit: Anguilla, the Bahamas, Belize, the British Virgin Islands, Costa Rica, Cyprus, Hong Kong, Malta, the Netherlands, Panama, Samoa, the Seychelles, the United Kingdom and two US states: Nevada and Wyoming. Those companies, moreover, could be legally incorporated yet have no identifiable owners at all, because their equity might all be vested in nameless “bearer” shares. Not even the ultra-formidable billionaire Paul Singer, who had bought up heavily discounted Argentine debt, had refused “haircut” payouts and was employing lawyers and investigators everywhere to track down anything of value that he could impound (he did succeed with an Argentine naval vessel), could do anything about the $65 million sitting tantalizingly close to him in Nevada – but now all the data was revealed (too late for Singer because Argentina’s new President, Mauricio Macri, also a Mossack Fonseca client as it happens, had already decided to settle and pay him off, along with all the other hold-out claimants).

Read the global overview of the Panama Papers here:

My question will not be answered here at the Financial Times, which is part of a cheering section of ‘journalists’ who celebrated Paul Singer’s victory in an  American court, and Macri’s negotiation with the Vulture Capitalist as the in-order- to of rejoining the Family of Neo-Liberal Nations. De Kirchner was corrupt, but the question remains about the why of Macri being a client of the most notorious tax dodging/money laundering organization in history. No honest politician needs such a service!

Who is Gustavo Grobocopatel, Argentine farmer? More likely an Argentine Agribusiness owner, that provides a bit of that old reliable Austrian Schumpeter’s ‘creative destruction’ garnish, to this essay celebrating the rebirth of a vigorous functioning Capitalism in Argentina . In both America and Europe a vigorous functioning Capitalism would be a most welcome change from our perpetual economic doldrums. But it seems our economies overdosed on that ‘creative destruction’ otherwise called theft on a mass scale.

Almost Marx


About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer. 'Polemic is a discourse of conflict, whose effect depends on a delicate balance between the requirements of truth and the enticements of anger, the duty to argue and the zest to inflame. Its rhetoric allows, even enforces, a certain figurative licence. Like epitaphs in Johnson’s adage, it is not under oath.'
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