Effects Of A Default On Expats

[French jurist]

Back to what's really important (the future of Argentina, not the future of scammers who operate from the Caimans), seems the possibility of a limited default is discussed since a few days among the business actors in Argentina.

http://www.clarin.com/politica/deuda-buitres-griesa-kicillof_0_1178882503.html

Politically, it can be doable on the Argentine scale (CFK protecting Argentina from the Vultures who tried to capture the fragata Libertad, etc.).

 

[French jurist]

Another example of how Singer steals (or call it the way you want) US pension funds money (here in Rhode Island)... While using the Caimans to escape US taxes... While pretending to fight for US taxpayers...

There are many examples to dig out. US taxpayers (rightly) don't give a damn about Argentina's trouble, but properly informed, I'm sure they'd consider this as a serious issues.

That's one of the methods Argentina should use to fight back (Argentines + US taxpayers against the Vulture funds).

Nor did anyone know that part of Raimondo's strategy for saving money involved handing more than $1 billion – 14 percent of the state fund – to hedge funds, including a trio of well-known New York-based funds: Dan Loeb's Third Point Capital was given $66 million, Ken Garschina's Mason Capital got $64 million and $70 million went to Paul Singer's Elliott Management. The funds now stood collectively to be paid tens of millions in fees every single year by the already overburdened taxpayers of her ostensibly flat-broke state. Felicitously, Loeb, Garschina and Singer serve on the board of the Manhattan Institute, a prominent conservative think tank with a history of supporting benefit-slashing reforms. The institute named Raimondo its 2011 "Urban Innovator" of the year.

Read more: http://www.rollingstone.com/politics/news/looting-the-pension-funds-20130926#ixzz38CUZ0IWr
Follow us: @rollingstone on Twitter | RollingStone on Facebook

 

[French jurist]

We should create an Expat Task Force for Argentina, aimed at the Vultures (I would be glad to contribute both financially & in person)

We could likely get a few newspaper articles talking about us.

 

[French jurist]

904.000.000 USD more from the US taxpayers to the Vultures...

http://www.thenation.com/article/170644/mitt-romneys-auto-bailout-bonanza

 

[domthegreat]

Obviously, the peso will crash, and the economy will drop as a result. All our non-dollar-earning friends will be worse off while we improve marginally in the short run. In the long run, you might begin to see effects in that foreign companies begin leaving again (no more KFC!!!), foreigners begin leaving again, and eventually the increase purchasing power of the dollar.

Regardless of the morality of the situation, it will benefit those earning dollars and hurt peso earners. But more than that, it could very well affect the entire makeup of the country.

Although, I do think it will be much different from the last time they defaulted...apart from this scandal they are much better off than before.

 

[French jurist]

Maybe are the Vultures seeking a global default from the scratch in fact (it's unknown how many CDS they purchased)?

It's another terrible aspect of this croony capitalism (capitalism that creates jobs & wealth is great): the CDS are like if you can subscribe an insurance covering your neighbour's house against fire... After that you just need some gasoline and a lighter.

Obviously, the peso will crash, ../.. foreigners begin leaving again,

Maybe for some expats making an income in pesos, after getting tired, but a bunch of new expats would arrive like in 2002/2003... We'll see many new threads like "Where can I find a good pizza" & "I love this place, it's so cheap!" and such.

Anyway, we'll know better today -_-

 

[camberiu]

It's very fashionable to criticize Putin but a neutral look at the data since 1999 proves he did a good job for the Russian economy (remain indeed the issues of Human Rights, corruption –since it’s believe Putin owns something like 40 billion USD-, geopolitical issues –Crimea was in fact Russian since a long time, now the appetite for more territories must indeed be slowed down).

Since 1999:
-GDP has doubled
-Current account has become strongly positive (and for a long time to come)
-Inflation is back to normal levels
-Employment keeps increasing
-Public debt went from 90% to 10% of the GDP in 7 years only (wow!)
-Poverty level has diminished by 50%

Russian politics (mixing sovereignism & liberalism) proved to be efficient.

Things are not black & white, as always

Yes, he did a great job. What an amazing leader. I am sure that the change on crude oil prices (US$8.66/barrel in 1999 vs. US$100 today) had nothing to do with it. It was all skills and statesmanship from mr. Putin.

 

[French jurist]

Yes, he did a great job. What an amazing leader. I am sure that the change on crude oil prices (US$8.66/barrel in 1999 vs. US$100 today) had nothing to do with it. It was all skills and statesmanship from mr. Putin.

Indeed true, that helped a lot.

If Vaca Muerta gets finally fully exploited (will take quite a long time, 100 billions USD required), and if corruption is contained (Some AR leaders were great: Illia, etc.)... Then Argentina might finally get the "future" it was awaiting for.

 

[French jurist]

Meeting started 30 mins ago -> https://twitter.com/DanCancel

 

[ajoknoblauch]

Indeed true, that helped a lot.

If Vaca Muerta gets finally fully exploited (will take quite a long time, 100 billions USD required), and if corruption is contained (Some AR leaders were great: Illia, etc.)... Then Argentina might finally get the "future" it was awaiting for.

The country of the future - and it always will be.