AmigoArtistico
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- Jan 31, 2008
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Matias,
It's easy to stay out of debt -- for a while anyway -- if you print enough money to pay the debt.
Of course, this causes massive inflation, which in turn dramatically increases poverty, which in turn dramatically increases crime.
But, of course, we know that inflation isn't important, right? Ask the jubilados (of which you will be one someday), who receive increases each year of 15% while prices increase each year by 30%, drastically reducing their purchasing power. The same thing has been going on for the people receiving plans (more each day). They just keep getting poorer. Each day I see more people going through the garbage looking for food and sleeping in the street.
Inflation prevents people from being able to save money, since their pesos are worth less with each passing minute.
Inflation also causes a massive decrease in competitiveness and productivity, which ultimately leads to severe recession. 40% of the businesses in calle Defensa have Alquiler signs on them. It's like a ghost town.
There's no money for new investment. The government takes 80% of the money from soybeans, so that the farmers can't modernize. The country's infrastructure is collapsing. Energy imports are consuming the country's remaining reserves at an alarming rate.
And so, now, the government has finally decided that it would like to borrow some money after all. They even admit that they desperately need it. (How could that be so? Argentina is so well managed.)
But where can they get this money?
Oh, yeah. The vast, untapped illegal money market. Laundry done cheap. The problem is that very few people are in a good position to take advantage of it. And those people have serious doubts and worries. "Will the government really pay me back when the time comes? Will they repeal the law and reveal my name? Could I face charges? Will I end up on Periodismo Para Todos?" For a very risky 4% return, I doubt much of that money is going to see the light of day. Most analysts agree.
And in another genius move, as part of this heinous project, they've created the CEDIN. "Better than dollars," says Kicillof. Yes, Kicillof, better than dollars, because they're like travellers checks. If you lose them, they're insured. And you can spend them anywhere. ---- What? You can't spend them anywhere? Only in Argentina? And only if you can find somebody else to buy them from you? And the Argentine government requires that you meet "certain requirements" before you can exchange them for the old, outdated type that are issued by the US government? And the government keeps track of exactly how many you have? Really?
Well, if Kicillof says they're better, who am I to argue?
Anyway, they're almost as good as Disney dollars. But at Disney, you can change your Disney dollars back to real dollars without government permission or the need to fill out any forms. And each Disney dollar will always be worth a dollar. There's still time. Maybe they can change the law and issue Disney dollars instead of CEDINs. I mean, that would be so much more practical. According to Abal Medina and Julio De Vido (how about that -- he has a street named after him now -- we can give him a photo of it to hang in his jail cell when the time comes), everybody in Argentina goes to Miami a few times a year, so exchanging Disney dollars would be much easier than dealing with CEDINs. I might even accept Disney dollars as payment for my apartment. CEDINS, never.
Argentina. Solid as a rock, like never before.
It's easy to stay out of debt -- for a while anyway -- if you print enough money to pay the debt.
Of course, this causes massive inflation, which in turn dramatically increases poverty, which in turn dramatically increases crime.
But, of course, we know that inflation isn't important, right? Ask the jubilados (of which you will be one someday), who receive increases each year of 15% while prices increase each year by 30%, drastically reducing their purchasing power. The same thing has been going on for the people receiving plans (more each day). They just keep getting poorer. Each day I see more people going through the garbage looking for food and sleeping in the street.
Inflation prevents people from being able to save money, since their pesos are worth less with each passing minute.
Inflation also causes a massive decrease in competitiveness and productivity, which ultimately leads to severe recession. 40% of the businesses in calle Defensa have Alquiler signs on them. It's like a ghost town.
There's no money for new investment. The government takes 80% of the money from soybeans, so that the farmers can't modernize. The country's infrastructure is collapsing. Energy imports are consuming the country's remaining reserves at an alarming rate.
And so, now, the government has finally decided that it would like to borrow some money after all. They even admit that they desperately need it. (How could that be so? Argentina is so well managed.)
But where can they get this money?
Oh, yeah. The vast, untapped illegal money market. Laundry done cheap. The problem is that very few people are in a good position to take advantage of it. And those people have serious doubts and worries. "Will the government really pay me back when the time comes? Will they repeal the law and reveal my name? Could I face charges? Will I end up on Periodismo Para Todos?" For a very risky 4% return, I doubt much of that money is going to see the light of day. Most analysts agree.
And in another genius move, as part of this heinous project, they've created the CEDIN. "Better than dollars," says Kicillof. Yes, Kicillof, better than dollars, because they're like travellers checks. If you lose them, they're insured. And you can spend them anywhere. ---- What? You can't spend them anywhere? Only in Argentina? And only if you can find somebody else to buy them from you? And the Argentine government requires that you meet "certain requirements" before you can exchange them for the old, outdated type that are issued by the US government? And the government keeps track of exactly how many you have? Really?
Well, if Kicillof says they're better, who am I to argue?
Anyway, they're almost as good as Disney dollars. But at Disney, you can change your Disney dollars back to real dollars without government permission or the need to fill out any forms. And each Disney dollar will always be worth a dollar. There's still time. Maybe they can change the law and issue Disney dollars instead of CEDINs. I mean, that would be so much more practical. According to Abal Medina and Julio De Vido (how about that -- he has a street named after him now -- we can give him a photo of it to hang in his jail cell when the time comes), everybody in Argentina goes to Miami a few times a year, so exchanging Disney dollars would be much easier than dealing with CEDINs. I might even accept Disney dollars as payment for my apartment. CEDINS, never.
Argentina. Solid as a rock, like never before.
