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...

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