If you happened to be wondering what Argentina’s pro-business, make-nice-with-Paul-Singer-and-the-IMF president has been up to lately, well, here’s what Mauricio Macri has been up to lately.

On Wednesday after market hours he announced price controls on 60 products deemed essential for everyday Argentinians, including rice, milk and sugar. He also launched a new program for subsidies on everything from travel and tourism to construction materials, which has price discounts from 10% to 25% off the market rate for some 18 million eligible Argentinians.

That seems out of character. I mean, Argentina’s kind of been in the shitter for a while now, economically speaking, so what gives?

With elections six months away…

Ah, of course, And while Argentina is unlikely to elect an actor who played a president on TV to the actual presidency, it may do much worse, like elect Macri’s predecessor both as president and as giver away of things they can’t afford.

Polling firm Isonomia has Cristina ahead of Macri by 9 points.

You remember Cristina, surely. ‘Bout yea high? Didn’t like to pay her bills, definitely didn’t like one now deceased judge? Fancied herself a lexicologist and American constitutional scholar? Enjoyed a little racist wordplay at the expense of key trading partners? Maybe did a little light covering up of the Iranian-backed bombing of a Buenos Aires Jewish center that killed 85 people?

Perhaps now’s a good time to dump those can't-miss 100-year bonds.

The Past Is Coming Back To Haunt Argentina’s President Macri [Forbes]

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