Another CFK Corralito

[gsi16386]

I don't know if there have been other threads in regards to this, but just like in 2001 where the gov't confiscated all the money in banks CFK is now basically doing the same thing by limiting the amount of foreign currency each individual is allowed to change their pesos for based upon how much money they make.

Most Argies that want to save for their future quickly convert their pesos to dollars/euros so their efforts aren't thwarted. Without this ability to convert pesos to foreign currency, they're subject to gov't control...in Argentina...with Christina...meaning another inflationary spike. Inflation is about to become a runaway freight train and the only people that are getting fcked are those Argies that have worked hard and saved money for the future. The only people not getting fcked are the lower class pieces of sh!t that voted for her. If you had money in the bank, structured land/asset deals in dollars, and did things the right way, you're once again going to be swatted down by the big evil hand of the Argentine Gov't. Argentines simply cannot win and it breaks my heart to see those that work hard and deserve a good life constantly have it taken away from them.

I only wonder what CFK will do next to keep her people down.

 

[kurtdillard]

...The only people not getting fcked are the lower class pieces of sh!t that voted for her...

That's an incredibly offensive statement. The vast majority of people don't choose to be poor, they get stuck there due to circumstances beyond their control, very often circumstances created by the wealthy and powerful who actually run countries. You're naive if you believe that CFK doesn't have the support of lots of rich Argentinians. It seems to me that she's split the rich and pandered to the less well-to-do in order to stay in office.

I grew up a 'lower class piece of sh!t' but with luck and tons of hard work have built a successful middle-class career. Unfortunately only a small fraction of the poor have even a remote chance to achieve what I have because the systems are rigged against them. I have many friends here and in the US who you would call 'pieces of sh!t,' most of them work harder than I do but just can't get a break.

 

[mariposa]

...The only people not getting fcked are the lower class pieces of sh!t that voted for her...

this is offensive beyond belief but remembering other posts by this person i would not expect anything else. not a class act, apart from the fact that she is pretty clueless.

i know quite a number of upper middle class argentine professionals and academics who voted for CFK.

 

[HeyBA]

I'll third the inanity of the OPs remarks toward the poor, but lets get back to the matter at hand:

Pesos para todos!

But seriously, without taking sides about Christina or claiming to predict the future, could dollar controls be what shifts inflation into high gear? People put their money in dollars, high value goods and real property. So if they can't put it into dollars anymore (or can the connected?), will they turn to goods and real property in a flight from their own currency and thus usher in hyperinflation?

The other option to protect wealth I guess is its expatriation of wealth. It seems to me that this would be a deflationary force for the peso and the economy. It would also take a fair amount of international and local connections, it seems to me.

Or is a combo of the above that is not disastrous to the Argentine economy in the works? I.e. does the socioeconomic strata that markedly benefits from social programs continue to receive them, while white collar and entrepreneurial Argentines dispense with saving and spend their way into the consumption habits of the international middle class, while upper class argentines cool down the economy by pursuing wealth preservation strategies overseas? That would be quite nice for the wonderful people of this country. (But I'm thinking John Lennon's Imagine might need to be the sound track to this paragraph.)

If, God forbid, there is either a hyperinflationary collapse or economic boom that leaves a large portion of the people behind, there would be a period of social instability beyond what is imaginable, as the have-nots descend upon the have-just-enoughs after a decade or so of immersion in the relatively new culture of street criminality and drug trafficking here. At least it seems that way to me. Could be inaccurate, of course.

 

[snowboarder]

What is worse? Insulting the shantytown dwellers (a horrible but widespread Argentinian practice, as in "negros de m...") in a moment of poor judgement, or ripping them off for decades purposefully?

That is exactly what the apparatchi"K" are doing, these millionaire K people are certified kleptomanicas and are corrupt to the bone as can be seen in many widely published examples.

If I had any information (I do not) that they are actually trying to improve the lot of the Argentine underclasses, I still would have a hard time accepting their corrupt practices. Their corruption has halted Argentine advancement for many years and is guaranteed to foil any attempts of helping close the tremendous gulf separating the "villeros" from the middle class. Many, really many children will be born and die in misery thanks to these corrupt sorry excuses for humans.

Of course the K are not the only corrupt ones here, the pathetic hypocritical very wealthy business people playing along with the K machine deserve a special mention. As well as almost all of the plain everyday Argentinians and even us that go along with the low level bribery and corruption daily. When was the last time you complained at a restaurant about not getting a real "ticket fiscal"?

So getting back to the K/PJ managed economy issue raised. I was horrified when I heard about what happened to a friend at "Compumundo" the other day. It seems that if you buy certain luxury items you need to fill in a report with many personal questions. Sounds scary people.

This will not end well, since history repeats itself, I predict another Menem type debacle.

 

[sesamosinsal]

Another CFK Corralito? When was the first one? It would be nice if the "marketplace of ideas" could vote down threads like this, like YouTube video comments, in order to allow it to sink into some dark abyss.

 

[ndcj]

Another CFK Corralito? When was the first one? It would be nice if the "marketplace of ideas" could vote down threads like this, like YouTube video comments, in order to allow it to sink into some dark abyss.

Yeah, we need a "no thanks" button!

 

[snowboarder]

Hey Brad,

Maybe the OP meant another "Corralito" this time by CFK. Why don't you enlighten us with some ideas of your own?

Personally, I would not be so quick to defend the K apparatus. I read 1984, and I watched the "homeland" emerge post 9/11...

Maybe China is a fine place also? Let's not ruffle any feathers...Evil triumphs when the good do nothing and stay quiet in fear...

I am one of the 99% in case you have not figured it out yet.

 

[snowboarder]

Yeah, we need a "no thanks" button!

No thanks!

 

[gsi16386]

Another CFK Corralito? When was the first one? It would be nice if the "marketplace of ideas" could vote down threads like this, like YouTube video comments, in order to allow it to sink into some dark abyss.

There you go...vote me down, shut me up, and get rid of me because I have a different opinion.

The first corral was in 2001 when froze all bank accounts and confiscated all bank assets. How about when CFK took $23B dollars from private pension funds. That would be another example. Do you think the poor have pensions? Do you think they have money in the bank? No, you're once again smashing the middle class and dividing the wealth. What's left are the ultra poor and the ultra rich. The ultra rich may have pensions but they are less affected by a negative effective on recent income because they have campos and other assets from old money. Maybe some of the ultrarich are voting for CFK, but I'm sure it's because their being covered under CFK's agenda in terms of wealth conservation.

How about the example you are setting for those whom are poor that are busting their chops to break into the middle class and then eventually the upper crest (which is, by the way how I came up, but in the US). You're basically saying, ok, you can work hard, but we're going to take all your funds anyways so what's the point. You're just another slave, you're our slave.

I get emotional and express strong opinions when I see hard working, educated, professional Argies once again having their quality of life effected by legislation catering to nonproducers. It upsets me to see aricles about streetsweepers making 10,000 pesos a month while doctors are making 4,000 pesos a month. CFK is the president, she is creating this, and just over 50% of Argentina voted for her again. The other 48% or so want changes, want to break out of the poor, want to break free of the middle class and into the upper class, want to open doors to foreign trade, and want Argentina to prosper....I'm with them.