The U.S. is not Argentina. Certainly not.
Real wages in this country aren't 20 percent lower than they were seven years ago, goods imported from Europe don't cost more than four times as they did then and 40 percent of the population isn't living in poverty.
Still, there are some disturbing parallels between the U.S. of today and the Argentina of the 1990s when the country was living well beyond its means, borrowing abroad to finance large budget and current account deficits, while government leaders ignored the urgent need for more prudent fiscal policies.
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