Last week, the Wall Street Journal ran an op-ed by an Argentine who lamented that nation’s sad decline into crony capitalism, corruption, inflation, lawless government, etc. Here is a superb response in today’s paper. The writer is absolutely correct in observing that a) nations can go past the point of no return once that advanced stages of politicization have set in and b) the US is heading down the same ruinous path as Argentina.

It Is Too Late to Cry for Argentina

For those who would like a free lesson in what is at stake in this November’s election, Pierpaolo Barbieri’s “A Lesson in Crony Capitalism” (op-ed, Aug. 9) is a good start. My family immigrated from Argentina in the mid-’60s after its first major devaluation of the peso which began the long and systematic elimination of one of the most productive middle classes in the world. That era ushered in the start of a non-ending tidal wave of government control, limit-less corruption and the destruction of individual self-sufficiency.

Once in the top five in the world for standard of living, Argentina now has become a bottom feeder third-world nation. The husband and wife Kirchner governments have created a completely dependent population which is controlled by throwing them the usual nationalist bones such as the Falklands, anti-American and anti-success rhetoric against productive nations, and the ever-present shouts of a long lost pride “Argentina, Argentina!” Unfortunately, the Argentine nation is too far gone into the abyss of corrupt government mismanagement and there is likely no way out of this in the next several decades, if ever.

In hearing Mr. Obama and his vision for America, we can peek into the future that awaits the U.S. if we continue on the path that he has set for this still-great nation. It is too late to cry for Argentina. Let’s act now so we won’t have to cry for the U.S.

Hugo Folli

San Clemente, Calif.