Estanflación

Argentina doesn't work!

Three out of Argentina’s five unions — those that oppose the policies of President Cristina Fernández de Kirchner — began a general strike on Thursday to protest the country’s economic crisis.

Those unions not on strike are the radicals.

....the strike really gained traction on Thursday, when the powerful Confederación General del Trabajo (CGT) joined in. Their action managed to bring to a halt the circulation of trucks, trains, a subway line, intercity buses and airplanes, and they also shut down numerous banks, restaurants, courthouses, gas stations, ports, garbage-collection services and soccer stadium box offices. City buses were still running, but access to the city [Buenos Aires] was blocked.

Cristina Kirchner has recreated that 70s show;

The government has sought to kick start the economy, which contracted 0.2 percent in the first quarter from a year ago. Spending rose 57 percent in June from a year earlier as the government raised salaries and energy subsidies.

Still, unemployment climbed to 7.5 percent in the second quarter from 7.2 percent in the same period last year. Gross domestic product is forecast to contract 1 percent this year, according to the median estimate of 22 analysts in a Bloomberg survey.

Along with an inflation rate between 30-70% annually.