Argentina's Economic Ranking

[sergio]

http://www.zerohedge.com/news/2015-12-18/argentinians-are-now-poorer-citizens-equatorial-guinea-after-massive-devaluation

 

[AmigoArtistico]

This article is an amazing example of the incredible ignorance with which the rest of the world sees Argentina.

Really beyond belief. And people actually get paid (outside of Argentina) to write this shite.

Apart from the overall tone of the article, I'll borrow from GringoBoy and suggest that you "count the errors," (though a careful analysis could take you a few hours).

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About the source, zerohedge.com:

[background=rgb(249, 249, 249)]From noahpinion.com:[/background]

It has been known for quite some time that individual investors - this means you, sitting at your computer clicking away on e*Trade - almost all underperform the market. In other words, you suck at investing. In 1999, Odean found that a lot of this poor performance comes from the fact that individual investors trade too much. In other words, one reason you suck at investing is because you have an itchy trigger finger. And this 2001 Barber and Odean paper found that men have itchier trigger fingers than women.

Which brings me to the website Zero Hedge.


Zero Hedge is a financial news website. The writers all write under the pseudonym of "Tyler Durden", Brad Pitt's character from Fight Club. Each post comes with a little black and white icon of Brad Pitt's head. On Zero Hedge you can read news, rumors, facts, figures, off-the-cuff analysis, and political screeds (usually anti-Obama, anti-government, and pro-hard money). On the sidebars, you can click on ads for online brokerages, gold collectibles, and The Economist.

From money.cnn.com:

If watching the news doesn't satisfy your hunger for scary stories,Zero Hedge is the place for you.

Zero Hedge, a financial blog, offers a deeply conspiratorial, anti-establishment and pessimistic view of the world.
Even though stocks have zoomed to record highs since Zero Hedge launched in 2009, the site continues to hold serious sway among hedge funds, traders and others in finance. That's because Zero Hedge's dark perspective has struck a chord with the sizable portion of the public who remain deeply skeptical of the stock market and economy.
Sometimes the site gets it right before everyone else. Zero Hedge is credited with flagging financial issues like high-frequency trading before they became sexy mainstream stories.
"It's extremely influential in the New York, London and global hedge fund community. I meet clients in London and they mention it, and I meet regulators in Washington and they mention it," said Nicholas Colas, chief market strategist at ConvergEx Group, a brokerage firm.
Zero Hedge's outlook is nicely summed up by the tagline at the top of its website: "On a long enough timeline the survival rate for everyone drops to zero."
If those words sound familiar, it's because they're from "Fight Club," the 1999 film starring Edward Norton and Brad Pitt.

Amazingly, a lot of people (especially in the US and Europe) apparently follow this blog, written by staff who don't even use their real names.

But as its article about Argentina suggests (and I suggest that you browse some of the other provocative titles of articles from the site, all by authors writing under pseudonyms):

• Truth and fact-checking have little to do with success on the internet
• Many people will believe anything
• A fool and his money are soon parted
• There's a sucker born every minute
• And so many, many more

Just to close, when Time Magazine (where fact-checking and legitimate journalism disappeared long before the internet was a gleam in Al Gore's eye) rates zerohedge.com as number 9 in its list of the 25 most influential and useful blogs, although the comments of their pseudo-peer review are telling:

From Time Magazine:
9. Zero Hedge

By Paul KedroskyMonday, Mar. 07, 2011


Here is how I can tell when I've been reading Zero Hedge too much. I find myself rolling my eyes at CNBC or the Wall Street Journal while saying things like "There's more to it than that!" or "Suuuure, it may seem that way." I know Canadian equity strategist David Rosenberg's latest perma-bearish musings, and the same from the preternaturally gloomy Albert Edwards of Société Générale. After prolonged exposure, I have to turn off my wi-fi not to sell all my U.S. dollars for physical gold, start an anti–Goldman Sachs blog and buy a Kansas soybean farm protected by a moat.
But here is the crazy thing: Zero Hedge — a morning zoo of pessimistic financial blogging — is fun. Granted, you (O.K., I) can't read it for long without the aforementioned soybean-farmer effect, but the downbeat site has found an entertaining niche at the intersection of The X-Files, finance and tireless anti–Goldman Sachs–ishness.
So while I don't read Zero Hedge regularly — it's too bearish, too conspiratorial and too much of an intellectual monoculture — I like knowing that it exists. Any time I'm feeling like things might just turn out O.K. on planet Economic Earth, I know where to turn to be disabused of that stupid idea.
Kedrosky is a columnist for Bloomberg and the author of the blogs Infectious Greed and Paul Kedrosky on Bloomberg.com.

 

[AmigoArtistico]

Who else feels beaten down by the message, "Your post needs approval before it is posted on the site?"

In this case, it was complicated, with a number of quotes, and I'll now have no option to fix any glaring formatting and grammatical errors.

Cambiemos!

 

[nicoenarg]

Lol funny article. Quoting FT it says: "Argentines woke up on Thursday richer than Poles, Chileans and Hungarians [but] by bedtime they were not only poorer than all three, but also more pecunious than Mexicans, Costa Ricans and the good people of Equatorial Guinea."

Right. That's like saying, "last night I had a dream I was a billionaire, in the morning when I woke up I could barely make ends meet...MACRI EVIL!!!!!"

Fact of the matter is argentines felt "richer" because of fake numbers. Reality hit and now some are starting to whine because they prefer their dream over real life.

 

[toongeorges]

The article also says

"The peso devaluation is a bitter pill for Argentinian households who kept their savings in pesos"

Who is saving in pesos anyway?

 

[AmigoArtistico]

Sorry for the poorly constructed post above, but it "needed approval," which gave me no opportunity to edit it into something readable.