Is Argentinas Economic Collapse Imminent?

[ajoknoblauch]

The folks of the USA are getting poorer and poorer by the day as well. Hence the migration to BA. After the 2008 debunkel here I cant make 1/3 of previous years. So why not head to BA and live off want I saved? There are many poor people here and its not getting better either. Our middle class is dropping like fly's. Check out the last week on NYSE. Average savings loss of 7%, just when we had bounced back after 6 long years.If you could hold out and not cash in your chips at 50%. Dont cry for me Argentina, we have 3 more years of Obama to weather out.

In the real world, we have three more years of Republican obstructionism to weather.

 

[Joe]

BAexpatters need to take a page from the US MSM and

Don't Worry - Be Happy:

http://youtu.be/KZ1mA1NeUmU

 

[thorsten]

Your source of information about what you are writing?

I do not think you have one. I have lots of them that are saying quite the oppsite. IMF, WB, OXFAM, CEPAL, CARITAS, UN, Juan Carr, and so on.

What are you referring to?

 

[Musicman]

I have to admire all you expats putting up with all that chaos and imminent economic meltdown - it takes a brave person to live in these type of circumstances risking ones savings and earnings. It's times like these that I really appreciate the stability in the USA.

 

[Joe]

I have to admire all you expats putting up with all that chaos and imminent economic meltdown - it takes a brave person to live in these type of circumstances risking ones savings and earnings. It's times like these that I really appreciate the stability in the USA.

The USA is also facing imminent economic meltdown - you just don't know it.

But don't worry, be happy!

 

[sergio]

Thousands of people get poorer and poorer on a daily basis anyway - thanks to the current government. Even though I agree that hoping for a collapse is kind of weird, the problems Argentina is facing are home made. And honestly, I'm not sure if they actually might need another collapse to understand that their basic economic system just doesn't work and caused the low welfare of this country.

Unfortunately Argentines do not learn from their mistakes. I lived through the last crisis. The people had a chance to change things but they soon forgot and voted for the same politicians all over again -- and voila, look what has happened!

 

[nicoenarg]

Is it a plane? Is it a bird? No its another SUPER...boring thread about Argentina's imminent collapse and the eventual end of the world...

 

[nicoenarg]

I have to admire all you expats putting up with all that chaos and imminent economic meltdown - it takes a brave person to live in these type of circumstances risking ones savings and earnings. It's times like these that I really appreciate the stability in the USA.

This isn't about putting up with all the chaos. We all know that things are bad here. But the thing is we live here. A lot of us have made this our home for the time being there's no point bringing the same thing up over and over and over.

Its like this: You live in a house, the roof is leaking, you know it, the people you share the house with know it and you are trying to deal with it the best you can. Imagine how you would feel if everyday some stranger, who has no idea what you've been dealing with and how much you know about the situation that your roof is in, comes along and tries to remind you, "Don't you think you should do something about that roof? IT'S ABOUT TO COLLAPSE!"

Point is, we know what the economic situation is like here. We have about a gazillion threads on it already but that still doesn't stop people from going, "boy, what are you going to do?! I mean, OH MY GOD!"

It...is...getting...tiring!

 

[nicoenarg]

Now to answer your question and getting back on topic, even though its been discussed to death. No you are not going to see economic collapse from one minute to the next. The only thing that will happen, ceteris paribus, is the reserves will slowly run out by the end of Cristina's term (Dec 2015). Imagine feeling a whole lotta pressure in your stomach and then letting out a wussy little fart. That is what will happen. And then the next administration will build it up (or will claim to build it up) and people will forget anything ever happened.

People worry about "another default". Honestly? Who cares? Not like Argentina is flowing with FDI and any future default will ruin Argentina by investors taking all their money elsewhere. Again, picture the fart scenario above.

 

[Reneige]

The way Argentinians react the politics and business reminds me a lot of how Italians do. There is a fundamental lack of knowledge about economics and because of this, economic phenomena are blamed on outside sources, eg Big businesses, foreign influence, banks / "speculators", etc. The inevitable outcome is that when things meltdown, a government promising economic orthodoxy is voted into power, they then (sometimes) actually attempt to implement painful reforms, and the austerity rapidly causes the government to be quickly ousted by the voters and things revert back to the status quo of economically incompetent governments who promise everything. I really suspect the next government will take most of the blame for the current governments never never land economics.