These well-to-do nomads tend to live in well to do immigrant ghettoes. They don’t compete with the housing stock locals use.

In the north people always tout the benefits of having immigrants come in —especially the high income highly educated.

But here you’re doing the opposite and saying high income immigrants are bad for the locals. Is that the case only in one direction?

If you want someone to blame for the poor economy, blame local politicians corruption and graft endemic locally.

Compare Argentina to New Zealand. One has many more resources and many more people, both in the south but one has corruption and the other doesn’t. One does well and the other perpetually defaulting and getting nowhere.

Before you blame it on the past dictatorships keep in mind past dictatorships in s Korea, Taiwan, Japan even, have not kept those countries from becoming economic dynamoes. You do have to do the hard work of getting your house in order, instill education and entrepreneurship and a dream to succeed (corruption might favor incumbents for example).