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| Argentina Crisis: Financial turmoil could spark market chaos, experts warn | |
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| Tweet Topic Started: May 16 2018, 05:14 AM (1,023 Views) | |
| Che On The Rocks | Jun 20 2018, 05:13 AM Post #61 |
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Herr Professor Mozart: Cristina repaid all the debt with Venezuela by October of 2015. The bilateral trade was very favourable to Argentina. So stop searching for excuses. Macri is responsible for Argentina's current crisis. ---------------- Moyano Agrees to 25% Wage Increase for Teamsters
![]() (Photo via Télam / José Romero) ^^^ IN YOUR FACE, MACRI! THANK YOU LORD FOR THE UNIONS! Poverty Line in City of Buenos Aires Up by 2.7% in April
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| Che On The Rocks | Jun 20 2018, 05:23 AM Post #62 |
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Argentina Quarterly Growth Slowed to 3.6% Before Peso Crisis
UPDATE 4-Argentine bonds rebound after touching lowest level of Macri's term
Argentina central bank hikes rate on 27-day Lebac notes to 47 pct ![]() ^^^ THAT IS MACRI, NOT CRISTINA, GENTLE READER! |
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| Che On The Rocks | Jun 21 2018, 02:37 AM Post #63 |
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Macri Cancels Appearance at Flag Day Event in Rosariohttps://youtu.be/7lRoVFdbBNc IMF board approves $50 billion Argentina deal, disburses first payment
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| Robert Stout | Jun 21 2018, 05:46 AM Post #64 |
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I can't remember when, if ever, Argentina had a stable currency...............
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| Jesus can raise the dead, but he can't fix stupid | |
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| Che On The Rocks | Jun 22 2018, 02:59 AM Post #65 |
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Mr. Robert Stout: well, technically, during the 1990s. The so called "convertibility". But in the long run, it was a iron life jacket. Caputo's sayings in the above Reuters article are just wishful thinking. ---------------- Candy! More (near) free candy for the Rich! With Dollar Auctions, Government Puts IMF Money to Work Immediately
![]() Treasury Minister Nicolás Dujovne at a June 15 press conference, Buenos Aires. (Noticias Argentinas / Hugo Villalobos) So, obviously: Believe It Or Not, Wall Street Increasingly Likes Argentina-IMF Reboot
![]() Winning: Argentinian president Mauricio Macri faced a huge backlash at home for bringing back the much-maligned IMF to his country. Wall Street kinda loves him for it. Photo by Neil Hall - Pool/Getty Images. Meanwhile, back at the real Argentina: Unemployment Rate Rises to 9.1% in First Quarter of 2018
![]() (Photo via La República) Argentina posts $1.3 billion trade deficit in May
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| Che On The Rocks | Jun 23 2018, 04:49 AM Post #66 |
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Argentina to grind to a halt Monday as unions' strike activity broadens
![]() The CGT union confederation rallies workers and social-political movements to strike on Monday June 25, 2018. Foto: Noticias Argentinas |
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| W A Mozart | Jun 23 2018, 08:47 AM Post #67 |
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Munch, ....munch, ....munch... Will Argentina survive this temporary downturn? This according to Che's Forbes article: https://www.forbes.com/sites/kenrapoza/2018/06/21/believe-it-or-not-market-increasingly-likes-argentina-imf-reboot/#29dbc755688f
The Argentinian Peso. Rule 1 in basic economics: You cannot print/create boatloads of new currency without the supporting goods and services backing that currency up. Ya just can't. Budget deficits? ...print more money. Unions demanding higher wages? ...print more money. Pensions unable to sustain themselves? ...print more money. It's classic. It is the problem of MOST socialist/commie inspired governments. It's always been a third world problem, but it also affects large countries infested with commies as well. After inflation hits 1,000 percent and more, the commies scream, " t'wasn't our fault! No siree." I remember watching Italy in the 60's and 70's play this game year-after-year. It was hilarious. The Italian Lire would be allowed to "inflate" to 30, or 40 times its current value, then the government would step-in (the cause for all the problems) and knock-off two or three zero's from its valuation and then, ....then,...then start all over again! Print, print, print. Wash, spin, rinse, .....repeat. Argentina is doing exactly that. But, the government can't inflate the Dollar because that power lies in Washington DC, not Buenos Aires. The only legitimate currency in Argentina, sigh, is the US Dollar. The Peso has become like Monopoly money. Che is overjoyed at the current economic crises. It means that he and the boys/girls may be back in power late next year. Sniff, ....sigh. It doesn't mean that the socialists/commies have better ideas, better economic policies. No. It simply means that they will have acquired 'power' again, to fill ALL of those government jobs with their people. We won, you lost, the rest of you can go suck eggs. Once in pwer, they will put into permanent place all of the financial impediments which causes economic misery for Argentina, for generations to come. Wash, spin, rinse, ...repeat. It is a sad state of affairs..... Mozart |
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| W A Mozart | Jun 23 2018, 09:14 AM Post #68 |
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Ah! Che, when will you ever learn? Herrn Professor Mozart is not to be trifled with. .... First, I actually looked-up the background of the "Boden 15," and what the botox Queen had done here. Let's revue what ACTUALLY happened, shall we? http://en.mercopress.com/2015/10/03/argentina-will-pay-5.9bn-mature-boden-15-bonds-on-monday-and-issue-new-debt
...."and issued new debt the following day." .. Rather than going to the IMF and getting "reasonable interest rates," the botox Queen was willing to pay 8% for the new debt. (My point... )And then...
...."leaving a financial time bomb for the next president." .... That's the story here in a nutshell, ..... Mozart |
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| jake58 | Jun 23 2018, 09:35 AM Post #69 |
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Che's revisionist history falls flat again... did they ever catch Nisman's murderers? |
| That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens | |
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| Che On The Rocks | Jun 24 2018, 01:49 AM Post #70 |
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Herr Professor Mozart: are you kidding me? Cristina repays near 6 BILLION dollars, then issue 670 million dollars (Bonar 20 in 2015) and that is a "financial time bomb"? And that forces Macri to issue near 120 BILLION dollars (only Federal Treasury) since the beginning of his term, up until April 25, 2018? Pleaseeeeee!!!!!! Dear Jake: yes, i love you too. Ho ho ho ho! --------------- Ex-Wall Street trader feels the heat atop Argentina's central bank
![]() Argentine Finance Minister Luis Caputo during the spring meetings of the International Monetary Fund and World Bank in Washington on April 19, 2018. ^^^ HIS NAME IS TOTO AND HE IS JUST A PETTY CROOK. |
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| W A Mozart | Jun 24 2018, 09:01 AM Post #71 |
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First, Cristina's economic actions in 2015 caused foreign reserves to drop to only 8 billion (real) dollars. THAT government, Cristina's, was unable to tap the international banking community for 'any' additional loans. She refused to deal with the "holdover bond people" from 2001 and brought Argentina to "third world" status. Kinda like Cuba on steroids. Yup, it was a "financial time bomb" that she left behind. Argentina was essentially, ....broke. Macri quickly fixed the problem with the "bond people," which opened-up new loans from major financial institutions. That's a good thing. Argentina re-joined the world. But, ...but, we do agree on one thing! (.... ) Why did Macri issue new debt to the tune of 120 billion bucks? I dunno. I don't know enough about the financial structure of Argentina to hazard a guess. What is the status of the pension funds? What is the current budget deficit? If Argentina is regularly printing 30% more Peso's than can be supported by the GDP growth, was an influx of (real) dollars, 120 B worth, needed to prop-up the economy? Ya gotta know ALL of the details here to make a comment. I don't. But generally I too am curious as to why Macri jumped into the debt markets in such a big way. He apparently got caught with his nuts in a vice, higher US interest rates and a disastrous soy bean harvest. By the way, NONE of this means that YOUR party's silly ideas are any better, ...ya know, ...just sayin,..... Mozart |
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| Che On The Rocks | Jun 26 2018, 03:40 AM Post #72 |
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Herr Professor Mozart: Macri issued new debt to the tune of 120 billion bucks, simply because it's an excellent business for a few, privileged People. Of course, to repay that mountain of money (plus the IMF's 50 billions) will be ruinous for the many Argentines. That will be a real financial time bomb for the next administration. ------------ Argentina anti-austerity strike brings country to standstill
![]() Streets were empty throughout the day in Buenos Aires Read the same news here, here, here, here, here, here and here. Extra pictures: ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() Bonus pictures, here. |
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| W A Mozart | Jun 26 2018, 10:09 AM Post #73 |
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The issuance of new debt by Macri is something I can't comment on because I don't know what that borrowed money was being used for. It was obviously used to "jump start" the Argentinian economy. The borrowed money was also NOT used for 'far' left-wing groups in Argentina, as Cristina had done when her gaggle was in power. Anyone not part of that group, her group, is now categorized as the "privileged few." Still, I am curious as to what that money was/is being used for. Second, ...
Right. Sure. That'll work. EVERYONE in Argentina should get a 30% raise! You betcha. That'll mean that next year, with inflation roaring at 60%, everyone will get a 60% raise in pay. Just keep those printing presses working 24/7. You'll need it. Pretty soon Argentina will look like, ....Venezuela! Finally, showing people protesting on the streets doesn't show a logical progression of new ideas in Argentina. What do they want, ...outside of achieving power which allows them to pack the bureaucracies with their people again? What's the plan here? Who is writing the new economic ideas which we can all study and dissect? Mobs in the streets are meaningless. Mozart |
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| jake58 | Jun 26 2018, 03:15 PM Post #74 |
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I'm sorry, che, I'm happily married, and don't swing in that direction anyway. |
| That which can be asserted without evidence; can be dismissed without evidence- Christopher Hitchens | |
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| Drudge X | Jun 26 2018, 03:33 PM Post #75 |
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I heard the Falklands is doing really well. |
| Kate Steinle was separated from her family permanently but leftists didn't seem to mind. | |
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| Robert Stout | Jun 27 2018, 01:56 AM Post #76 |
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Argentina is such a failed State that Brazil should take it over....That is how bad it is...................
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| Jesus can raise the dead, but he can't fix stupid | |
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| Che On The Rocks | Jun 27 2018, 05:46 AM Post #77 |
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Herr Professor Mozart: 1) At the same time that Macri issued 120 billion dollars of new debt, the capital flight from Argentina to the World amounted to near 90 billion dollars. Oh, the "jump start". 2) The Argentine workers simply don't accept to be the scapegoats of Macri's epic fail. 3) The plan is to eat three meals each day. Mobs vote, too. Dear Jake: congrats! Ho ho ho ho! Bro: UK Government subsidies. Pet hamsters (@Robert Stout). Mr. Robert Stout: and who should take charge of Brazil? ------------------- Argentina posts $9.6 bln current account deficit in 1st quarter ![]() Argentina sells Treasury notes for $761 mln -finance ministry ![]() Argentina economy shrinks in April due to drought; central bank holds rate ^^^ Just a word: stagflation. |
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Free Milagro Sala! What happened to Santiago Maldonado? What happened to ARA San Juan? Mapuche Lives Matter! Stop the political persecution in Argentina! Stop the looting of Argentina! | |
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| estonianman | Jun 27 2018, 07:00 AM Post #78 |
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Columbia is the only successful South American country Because of capitalism How many more examples of failure do we need? |
| MEEK AND MILD | |
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| W A Mozart | Jun 27 2018, 08:03 AM Post #79 |
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A quick note here: (more later) This was what was written in your Reuter's article:
Drought. Macri can't make it rain, at least not yet. Mozart |
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| Hughmac | Jun 27 2018, 04:33 PM Post #80 |
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Um, explain QE again and the US Dollar - H
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| H4T wrote: [Global] nuclear annihilation is preferable to the pre-Trump immigration/refugee policies. | |
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10:25 AM Jul 11