Cristina Fernandez Kirchner, autocratic Peronist President of Argentina, suffered a substantial setback in congressional elections held over the weekend. Her party lost control of both houses of the legislature. This can be good news for Argentina, a country which needs good news. Go here to see the Associated Press story.
As we've noted here before, Argentina is a country with all the natural advantages a country could ask for. Given that, you'd expect it to be a country doing very well. Your expectations would be wrong. However, a country whose national dish is grilled beefsteak and french fries cannot be all bad.
The problem is politics, the nation is caught in a negative political do-loop. This could be a step in the right direction, or it may not be. Sadly, given Argentina's politics, if you were a betting person you'd bet against progress.
This is another Latin American country to watch.
