ARGENTINA: Under the Snow

When Juan Perón is at his bluffing best, he has few peers among the world's rulers at giving visiting notables a snow job. Last week 16 junketing U.S. Congressmen listened to the President talk for an hour, and were nearly buried in the drifts.

Said Perón: "From the economic point of view I can assure you gentlemen that Argentina has absolutely no problems." Actually, Argentina's vital exports have slumped disastrously, her overall trade balance is unfavorable, her gold and foreign-exchange assets have plunged below $500 million, her credit is poor, her currency has slumped to 28 pesos to the dollar...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!