Global recession: An Argentine expat view

[igor]

I can't see that overall inflation is very high in the US. What is the inflation rate?

3.6% as of June. But anyway, I believe deflation is the danger, not inflation. When salaries are low, unemployment is high and stocks are down, people don't buy anything.

 

[chris]

Yes I agree Igor...and property prices are low also.

 

[captainmcd]

Argentinians are used to economic upheval, it is the USA I worry about. Argentina has had numerous devaluations and bouts with hyper-inflation. I remember the pesos of the 60's, Pesos Ley, Pesos Argentino, Australes, Pesos pegged to the dollar, and finally the present peso. Each new name meant the removal of naughts or zeros after the denomination. I wonder how the USA will react when we come out with the "new dollar" and all old dollars are declared of no value. As for USA inflation figures, they are really questionable, since those publishing the numbers have the ability to change the selection criteria as they see fit, there is no standard formula. If we continue to print money, we will indeed have hyper-inflation.

 

[Barney]

And how is the impact on Argentina and expats?

 

[ghost]

And how is the impact on Argentina and expats?

If you have followed the posts here over the last 3 years you will note that there is increased discomfort with the inflation aka "cost increase" or what ever name Xtina and crew want to assign to it.
The impact here is inflation followed by...............?[take your pick]
No economy in the world escape "global", they just react differently and re-brand the solutions.
Here's a nice little primer for those who care.
http://news.yahoo.com/p-downgrade-short-term-meaningless-long-term-spot-144651692.html
At the end of the day when the ship of fools hits the wall, we're all screwed.

 

[perry]

The engineered crash will destroy the value of the euro and the dollar . Since 2007 I have been mentioning this and now we are just months away from financial oblivion. If you have euros cash them in now for anything that holds value gold, silver, land that can produce income and food .

Once the euro and dollar crashes they will be technically worthless or at a demonated rate of 70 % less minimum . The world bankers will bring out a new world currency of course backed by gold.

 

[Reinaldo]

Exactly Ghost. The shock doctrine. This so-called debt crisis was jumped on in order to concentrate more power at the top. Recall that when George Bush The Younger began his second term, what was the first thing he pushed for? The privatization of Social Security. Though the effort failed then, the debt ceiling (or debt "crisis" if you will) has produced the opportunity to once more chip away at Social Security and other "entitlements" using, as the justification, fear & the rhetoric of right wing populism (or what I would call billionaire populism).

 

[Barney]

Wouldn't be better to just focus on this topic and about predictions for the economic future somewhere else?

 

[deeve007]

Dude, you asked for "Argentine expat view" and got it. If the direction of the public forum discussion isn't to your liking ask a question to redirect/focus rather than, in effect, telling people off because they've written something you didn't want.

 

[Barney]

Dude, you asked for "Argentine expat view" and got it. If the direction of the public forum discussion isn't to your liking ask a question to redirect/focus rather than, in effect, telling people off because they've written something you didn't want.

I am just more interested in the things I wrote in the first post, there are plenty topics where you can discuss the global economy, I think it would be more interested how the effect would be on Argentina and there expats(we?)