IMF about to censure Argentina

[Montauk_Project]

Glad to see a lot of people on this forum agree: IMF, the gig is up!

 

[fifs2]

Yup 3 people question the IMF..can see their days are numbered. David v Goliath wins again...choke, splutter, PLEASE!

 

[ghost]

It's not about the IMF [screw them] It's about false INDEC numbers, Cheating bond holders out of billions of $$$$$, and swindling companies out of hard assets.
Argentina will never do business with the IMF again............So what? That's a good thing. However, based on the other 3 counts Argentina has become a very poor venue for any form of investment by almost anyone. And that's a self inflicted wound that is likely to become fatal.

 

[cbphoto]

Naturally, the IMF will censure Argentina...shortly there after the countries economy will collapse and the IMF (not the Argentine Queen and her minions) will be blamed.

 

[Davidglen77]

The larger problem is that that no country can really stand on it's own in what is now a fully global economy. Most developed nations that have robust economies follow the IMF's instructions and recommendations to the letter. So if Argentina is censored, that will spell disaster for this country, whether or not they follow the IMF or not. Because any other country that has money to spend will avoid Argentina like the plague, including possibly china, and Argentina will be forced to devalue the price of their most robust export, "soy" and the government's coffers wil empty out even more quickly than what is already happening. I love Argentina, but I will never understand why there are so many people that are hell bent on destroying it - over and over again.

 

[Noelle]

The larger problem is that that no country can really stand on it's own in what is now a fully global economy. Most developed nations that have robust economies follow the IMF's instructions and recommendations to the letter. So if Argentina is censored, that will spell disaster for this country, whether or not they follow the IMF or not. Because any other country that has money to spend will avoid Argentina like the plague, including possibly china, and Argentina will be forced to devalue the price of their most robust export, "soy" and the government's coffers wil empty out even more quickly than what is already happening. I love Argentina, but I will never understand why there are so many people that are hell bent on destroying it - over and over again.

There are more countries having been damaged by IMF policies than prosperous ones happy with their rules...that is sadly the whole Europe case nowadays and dont get me started on how IMF enjoys the US banks bad loan and credit card giveaways, massive dollar printing and loan borrowing.
It is true some countries cant stand on its own due to lack of diverse resources and/or technology but there is something called FAIR TRADE, which China promotes with the rest of the world. That makes an economy grow, unlike funding an oposicion to bring the president down, make the economy crash to later "help bring wealth democracy and freedom" by providing massive cash loans, seize natural resource as leverage and imposing austerity measures in complete disrespect for human rights and social needs.
There are alternatives...they start by cutting ties with IMF and strenghtening treaties with countries producing what is needed in exchange for national goods. THAT is what Arg has been doing...no wonder why IMF is so upset?
Now the main issue in Argentines seem to have do basically but not limited to aversion to pay taxes, historical distrust in Arg banks and need to take money out of the country. People are used to make LOTS of money in Arg...if instead of just using ARG to make money they truly loved their country they would understand their responsability to keep the boat afloat.
The southamerican countries are bonding not only among themselves but also with Asia and Middle Eastern countries. The old recipe of looking forward to US and Europe investments is in decline. While we write here the Chinese are wasting no time investing everywhere, including countries with current economical turbulence such as Argentina and US. Every crisis brings need for reform and subsecuent opportunities.

 

[arlean]

I study economics ad nauseum but I'm still in the dark. I know there are smart economists here and maybe someone can help me. I will confess ahead of time to having read John Perkins Confessions of an Economic Hitman about how he was paid to give these countries fake figures in order to entice them to borrow, but it was with the purpose of ripping off their resources because they KNEW they would not be able to pay. This is the outrage of it all.

WHY can't they stand on their own? Why can't they borrow from their own people (government bonds) and work to build their own industry? That's what I don't get. But I believe in families running their finances the same. We financed a house but paid it off and didn't finance a bigger one. 'Course in this environment you can't keep savings in currency, for the most part you have to make good decisions about that as well. But what is wrong with that plan (speaking of a country here, the family was only an example in micro). Can anyone explain it in a few words? I just don't get it.

 

[ghost]

I study economics ad nauseum but I'm still in the dark. I know there are smart economists here and maybe someone can help me. I will confess ahead of time to having read John Perkins Confessions of an Economic Hitman about how he was paid to give these countries fake figures in order to entice them to borrow, but it was with the purpose of ripping off their resources because they KNEW they would not be able to pay. This is the outrage of it all.

WHY can't they stand on their own? Why can't they borrow from their own people (government bonds) and work to build their own industry? That's what I don't get. But I believe in families running their finances the same. We financed a house but paid it off and didn't finance a bigger one. 'Course in this environment you can't keep savings in currency, for the most part you have to make good decisions about that as well. But what is wrong with that plan (speaking of a country here, the family was only an example in micro). Can anyone explain it in a few words? I just don't get it.

A few words.....................Argentina won it's last World Cup by cheating. And so goes the collective mentality in every facet of the national norm.

 

[DavieW]

A few words.....................Argentina won it's last World Cup by cheating. And so goes the collective mentality in every facet of the national norm.

Yup.
"The end always justifies the means." Should be the national byline that appears in brackets every time the word "Argentina" is printed.

 

[Davidglen77]

WHY can't they stand on their own? Why can't they borrow from their own people (government bonds) and work to build their own industry? That's what I don't get. But I believe in families running their finances the same. We financed a house but paid it off and didn't finance a bigger one. Can anyone explain it in a few words? I just don't get it.

I can't explain all about it in a few words, but look at it like this.......Argentina can not stand on it's own without trading and getting some type of financing and income in foreign currency from the rest of the world. I mean it´s a pretty basic concept, how do you expect them to manufacture everything needed for daily living in the modern world? You think Argentina manufactures hospital equipment, every type of medicine, machinery, electronics, just to name a few things? And then who is going to buy the millions of tons of soybeans if they "stand on their own", are you going to buy soy and corn and wheat and 1000s of liters of sunflower oil from the corner verdulería? You mention a family's finances - well yes a family can decide to run it's finances the way it wants with it's disposable income, but no family I've ever known produces everything they need to live - does your family grow all of it's own food, make it's own furniture, medicines, and appliances? Or do they have to be purchased elsewhere? Think about it, it's kind of the same concept on a much larger scale. The human race are no longer "hunter gatherers" we are now living in a fully globalized economy and those countries that don't play by the rules and lie about their economies to international organizations and their trade partners, will only to great damage to their governments and citizens.