Arguably not very profoundly. Commodity prices are at record prices and Argentina is a major commodity exporter. The ones who are suffering, and shall continue to do so, are countries like the UK and US, which have been making their living from speculative bubbles like inflated equity prices and inflated real estate prices."sergio" said:
"London's stock market went on a rollercoaster ride today as new fears over a global recession wiped 157 billion pounds off the FTSE 100".
How will a global recession affect Argentina?
Although a recession in the developed world is now more or less inevitable, China, India and some of the oil-producing countries are in a very strong countertrend. So, the current financial crisis is less likely to cause a global recession than a radical realignment of the global economy, with a relative decline of the US and the rise of China and other countries in the developing world.
At a deep level, yes, the root causes are the same: neoliberalism and financialisation of national and global economies, crafted by the "Chicago Boys" (disciples of that worthless idiot, Milton Friedman, the pox on his soul), which have held sway for the last thirty years. Otherwise known as "free market fundamentalism," which has provided an ideological fig leaf to plunder on a scale that makes a buccaneer like Henry Morgan look like a naughty boy caught with his hand in the cookie jar."Smartypants" said:I have a theory about what Argentina have been through since the crash of 2001 is what the western world and especially with US and UK has to go through soon and it's going to get very ugly.
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