it isn’t any of our business.

Dante on April 19, 2012 at 8:01 AM

Then why are you commenting on it? Are you claiming that we’re not allowed to comment on events that take place throughout the world? Are you really this stupid?

Oh, and Dante? Charles Lindbergh called from 1938–he wants his political platform back.

The answer, Quantus, is that it isn’t any of our business.

Dante on April 19, 2012 at 8:01 AM

I think the answer is that you want to pretend you’re not an Ugly American–”Who are we to tell the rest of the world how to live?”–while still being an Ugly American–”If it’s not directly affecting the US, I don’t care about it.”

I wish smugness was a tradeable commodity. I’d suggest Obama nationalize yours.

Doesn’t the American taxpayer own Solyndra? Obama just nationalizes and bankrupts companies!

ConcealedKerry on April 18, 2012 at 1:00 PM

No, he just gave them hundreds of millions of dollars of loan guarantees without getting an effective claim on the company’s assets — the government’s claim was subordinated to private investors. If Obama had nationalized Solyndra, at least the taxpayer would have been left with the company’s inventory of overpriced solar panels. We didn’t even get that.

But I have a feeling you’re not going to be satisfied with any answers.

Quantus on April 18, 2012 at 9:11 PM

You’re right, because you didn’t answer the question. The UK is our ally. Ok, big deal. That doesn’t make their affairs our affairs. Spain is an ally. Ok, big deal. That doesn’t make their affairs our affairs.

Your convoluted reasoning regarding financial systems is the kind of pretzel logic interventionists love to use.

“The great rule of conduct for us, in regard to foreign nations, is in extending our commercial relations, to have with them as little political connection as possible. Europe has a set of primary interests, which to us have none, or a very remote relation. Hence she must be engaged in frequent controversies the causes of which are essentially foreign to our concerns. Hence, therefore, it must be unwise in us to implicate ourselves, by artificial ties, in the ordinary vicissitudes of her politics, or the ordinary combinations and collisions of her friendships or enmities.” – George Washington

Obama admin caught flat-footed by Argentina nationalization of Spanish oil company

In a sense. In the grander scheme of things, they certainly view this as a great thing and look forward to the day they can do it here.

That still isn’t an answer.

Dante on April 18, 2012 at 8:29 PM

-Nationalization of a major oil producer by a Latin American socialist has caused problems for us in the past. Witness Hugo Chavez. We are wise to take notice of similar activities.

-The intentional destruction of stockholder value in a European company has repercussions in our financial system.

-Spain is an ally. So is Argentina. When two of our allies have a major trade dispute, we are wise to pay attention to it.

- The UK is our strongest ally. Argentina has been at war with the UK as recently as the 1980′s. . Since Spain and the UK have intertwined economies, any diplomatic or military intervention is likely going to involve the entire EU, including the UK – who we’re already in a sticky situation with diplomatically because of some remarks by our President directly related to Argentina.

If by “our business” you mean how should the US intervene? I would say we should not, apart from condemning the move publically.

But if by “our business” you mean that we should be interested, then yes, yes we should be interested.

But I have a feeling you’re not going to be satisfied with any answers.

That doesn’t answer the question. Given that it wasn’t our property, this is our business how?
Dante on April 18, 2012 at 8:15 PM

In a direct way it matters because, coupled all the other market signals, it will push the price of oil up (and coupled with the forced hiked that fuel has here for the summer season, you do the math).

Indirectly, take it as a sample of the direction we are headed. For some years now I’ve been seeing things here that I never though could happen in the US, and that make me tremble because they are the beginning of the decadence of a society when everything goes downhill, and things I saw back in Argentina. Not that Argentina is a (or was) a model to follow, but the moment that the US starts behaving like that South American nation instead of the other way around it should be a sign to re-think a lot of what we are doing.

So, other than condemning Kirchner you can’t do anything. It will somewhat affect you at the pump, which should be more than enough to keep everyone hammering the poor energy policies of our administration. But it is a sample of what happens when socialist policies creep into a society who stops caring about personal responsibility.

The same reason (some) people said we should care when Hitler started annexing land, Major Clueless. Such actions will eventually start to hurt US. Nevermind that the Obama administration would do this in a heartbeat if they could, and may be emboldened by the actions of others.

MelonCollie on April 18, 2012 at 8:19 PM

That still isn’t an answer.

That doesn’t answer the question. Given that it wasn’t our property, this is our business how?

Dante on April 18, 2012 at 8:15 PM

The same reason (some) people said we should care when Hitler started annexing land, Major Clueless. Such actions will eventually start to hurt US. Nevermind that the Obama administration would do this in a heartbeat if they could, and may be emboldened by the actions of others.

Besides the fact that people who aren’t shills or leeches tend to take note when leftist tyrants outright steal property?

MelonCollie on April 18, 2012 at 8:02 PM

That doesn’t answer the question. Given that it wasn’t our property, this is our business how?

And this is our business how?

Dante on April 18, 2012 at 7:47 PM

Besides the fact that people who aren’t shills or leeches tend to take note when leftist tyrants outright steal property?

Obama admin caught flat-footed by Argentina nationalization of Spanish oil company

And this is our business how?

The move has infuriated Repsol and Spanish officials

If only the Spanish hadn’t spent so much on AGW feel-good projects, they might be able to protect their national interests worldwide.

Pssst….hey White House…thats a hint.

If it has a problem have the gubment take it over.

Obama tried in GM and Chrysler.

He gifted chrysler to the Italians.

blink on April 18, 2012 at 2:04 PM

To say nothing of the impact on the equity prices of even unrelated companies from the assault on the foundations of their private enterprise system.

Destabilize the basis of corporate ownership down there, and pretty soon you can buy the whole damn industrial base for peanuts.

… I’m not going to lose much sleep over Kirchner’s choice.
JEM on April 18, 2012 at 3:51 PM

So, what you are saying is that you are ok with a government seizing private property by force as long as that property is not sold legally to a buyer you don’t like? Yeah… I see the equivalency there… Should we ask somebody from Venezuela to describe how well they are doing under a regime that thinks just like you?

On the other, when the choice is Argentine nationalization or being sold to the Chinese government (Sinopec being one of those not-quite-arm’s-length subsidiaries of the Beijing kleptocracy) I’m not going to lose much sleep over Kirchner’s choice.

StompUDead on April 18, 2012 at 3:29 PM

The Falklands will be fine. Argentina got its army dismantled when the Kirchner’s took power years ago. Think of Ernesto and Cristina Kirchner during the 70′s as the Bill Ayers and Bernadine Dorhn of Argentina for reference, though not as high ranking in the organization as far as i know. The first thing they did was start an all out vendetta against anything tied to the army (through legal means and executive orders).

Argentine has no means of invading anything. The Falklands are just a rallying cry to distract the zombie masses from the power grab and corruption that Kurchner is involved in.

But, a good whoopin’ would serve the country well if you ask me.

If I were President I’d be down there tomorrow laying into President Kirchner(politically) over this. (get your mind out of the gutter) ;)

It appears from the news stories I read that Argentina renationalized YPF by buy 51% of the shares – is this accurate?
Monkeytoe on April 18, 2012 at 12:28 PM
I don’t think so. All the stories I’ve seen have said seized, not bought.
It appears that Evitacita just said “Nice company you’ve got here. 51% of it is mine now.”
Mr. Bingley on April 18, 2012 at 1:29 PM

I’m Argentinean with family still there, so I may be able to shed some light on that (I had the same question when I first heard that, btw). In short, the seized. Kirchner’s plan is to, through force, cause the stock to plummet and then “buy” 51% of the stock to make the acquisition “legal”. The country is broke so she’ll be funding it with money from Argentina’s Social Security (seniors always get the short end of the stick down there). Don’t try to find logic anywhere in her behavior. She is drunk with power and just cares about her and her pals (all the oil research, refineries, and transportation companies that will get the government contracts now that YPF is national again are all friends of hers).

She also nationalized Aerolineas Argentinas (the national Airline company that had been sold to Iberia back in the 90′s) a few years ago. The result? A daily subsidy of like $$200,000 to keep it running.

If anyone wants a great example of how well capitalism works check YPF’s story. Created as a national company in a socialist country was privatized in the early 90′s. In about 2 years it went from being in shambles to a company trading very well in the world market which led Repsol to show interest a few years later. It also saw it’s biggest progress in both research and development at the time.

Now it is going backwards and the country is continuing it’s path to hell (it’s been down that road since the Kirchner’s have been in power).