But I thought everything was okay.......

[dlish]

Are the dominoes starting to fall? It's feeling like it...

1. The stats come out yesterday showing Argentina is officially in recession

Bloomberg - Are you a robot?

2. Blue hits 50% gap against the Dolar Oficial for the first time in half a year

Dólar hoy en vivo: la cotización libre sube a $1.360 para la venta, un nuevo récord

El dólar “blue” sube 30 pesos en el día y acumula en junio un incremento de 135 pesos o 11%, por encima de la inflación. La brecha cambiaria se acerca otra vez al 50%

www.infobae.com

Considering how long it held steady vs the Dolar Oficial, it sure is moving so quickly!

3. Acindar puts its workers on partial employment, critical point being they say demand for steel is down 45% (!!!)

Se agrava la crisis en Acindar: habrá suspensiones de empleados en 4 de los últimos 6 meses del año

La empresa ya había frenado las operaciones en su planta de Villa Constitución hasta el 15 de julio. Ahora ofreció un esquema de ceses temporales para los trabajadores. Dicen que cayó 45% la demanda

www.infobae.com

Workers at the company say demand is lowest they have seen in 20 years. Yikes.

Acindar acordó un esquema de suspensiones para los próximos meses | Punto Biz

La caída de ventas es del orden del 45% y eso obliga a reducir las horas de producción.

puntobiz.com.ar

4. For all of Milei's endless jibber jabber about IMF deals to stabilize the economy, Caputo now admits talks have not even begun with the IMF (and infobae speculates are not starting anytime soon either)

Para Javier Milei es posible salir del cepo sin tener un acuerdo con el FMI que traiga fondos frescos

El Presidente indicó que el único paso que resta para eliminar las trabas cambiarias es “terminar con los mecanismos de emisión monetaria”. El ministro de Economía Luis Caputo, en cambio, considera imprescindible contar con un acuerdo con el organismo. Pero las negociaciones ni siquiera arrancaron

www.infobae.com

While all this is going on, Milei is busy in Europe pontificating on his chances of getting the Nobel Prize.

And purely anecdotal -

a. My regular money changers wouldn't change with me today because it's too volatile. The last time this happened to me was in the crazy couple months before the election.

b. I was walking in Florida, El Ateneo (bookstore) was deserted as were the other shops selling non-necessities. When prices starting going bonkers a couple months ago, those stores were still full and I didn't understand how. It seems to me that stores are much emptier this month than I've been seeing previously. I could be very wrong though!!!!

I wonder if things are starting to free-fall away from Milei's control.

 

[Quilombo]

Do you seriously believe that previous governments are not to blame for the situation that Argentina finds itself in?

I believe they are to blame for some of the issues, yes, just like Macri was with Alberto, but they're starting to sound a lot like the Ks in their rhetoric and I promise you this is going to repeat itself because every Argentine government has done this, balming their predecessors, warranted or not.

That being said, Alberto hasn't frozen the crawling peg at 2% a month, Cristina isn't making imported corn $7/can due to retaining her protectionsit taxes, and Massa isn't signing DNUs to allow HMOs to charge whatever they want in co-payments. What happened to lowering the impuesto PAIS once the Ley de Bases passed? Guess that's Maximo's fault, right?

 

[Ruta Otto]

Do you seriously believe that previous governments are not to blame for the situation that Argentina finds itself in?

We know previous governments were at fault. The issue is what is being done now, other than the blame game and endless junkets to collect participation prizes?

 

[Ronnie Hotdogs]

We know previous governments were at fault. The issue is what is being done now, other than the blame

Too many egotistical Argentines involved.
Someone needs to swallow their pride and do what’s right for the country, not in their blood unfortunately.

 

[Caribbean Cool]

Yes it's getting sweet ... for now; who knows what will be in a week

I wonder, and don't know, if local interest rates are falling (are they?) and money is looking for new places to park....and maybe some of this homeless money is running to the dollar...just a thought.

 

[JoeBoston]

I wonder, and don't know, if local interest rates are falling (are they?) and money is looking for new places to park....and maybe some of this homeless money is running to the dollar...just a thought.

You’re correct, they have dropped