by Martin Armstrong, Armstrong Economics:

Government mismanagement comes at a high cost. We saw Argentina’s new president slash half of the useless federal administrations this week on his first day in office.  Governments are incompetent to run even a gumball machine. These agencies come into the fold, create useless regulations, dish out contracts to their connections, and nothing gets done. The current construction on the Golden Gate Bridge is a great example of government incompetence.