You are wrong. For example, you should read about Argentina’s Infamous Decade and later Peronist rule. An excerpt from Wikipedia:

In 1929, Argentina was wealthy by world standards, but the prosperity ended after 1929 with the worldwide Great Depression. In 1930, a military coup, supported by the Argentine Patriotic League, forced Hipólito Yrigoyen from power, and replaced him with José Félix Uriburu. Support for the coup was bolstered by the sagging Argentine economy, as well as a string of bomb attacks and shootings involving radical anarchists, which alienated moderate elements of Argentine society and angered the conservative right, which had long been agitating for decisive action by the military forces.

The military coup initiated the period known as the “Infamous Decade”, characterized by electoral fraud, persecution of the political opposition (mainly against the UCR) and pervasive government corruption, against the background of the global depression.

And a revolution or two later, Peron comes to power:

His government followed an isolationist foreign policy and attempted to reduce the political and economic influence of other nations. Perón expanded government spending. His policies led to ruinous inflation. The peso lost about 70% of its value from early 1948 to early 1950; inflation reached 50% in 1951.