"It Might Be Time To Get Out Of Argentina"

[Silvie]

Hi Rich are you sure that Mcdonalds was on Santa Fe and Callao in 2001? I remember that there was a well known cafe at that time and Mcdonalds came in 2009 .

Back then, it could have been The Embers.

 

[Rich One]

Hi Rich are you sure that Mcdonalds was on Santa Fe and Callao in 2001? I remember that there was a well known cafe at that time and Mcdonalds came in 2009 .

I stand corre

Hi Rich are you sure that Mcdonalds was on Santa Fe and Callao in 2001? I remember that there was a well known cafe at that time and Mcdonalds came in 2009 .

I stand corrected it was Sta. Fe almost Pueyrredon, during 2003! The Callao Mc opened much later! 2009?
c

 

[Rich One]

What a crock to make people believe that the dollar moves because mom and pop buying greenbacks...? a few hundred at a time, The purchases by individuals is a drop in the bucket..:
The dollar moves because of foreign hedge funds that are taking out billions due to the new 5 % tax on LEBACS and other finance capital gains.

 

[Rich One]

Macri waiting on new foreign investments to rain on Argentina . Why do foreign companies already established in Argentina don`t re invest on new projects or expansions etc? For instance the 500 or more USA companies doing business here? I wonder? They know better..?

 

[Rich One]

Now there is Media Terrorism every TV program 24/7 announcing a Crisis .. dollar inflation tarifas...They ask the audience, is this a new 2001??

 

[garryl]

People will invest when the whole thing collapses. Macri can let it go. Argentina can enjoy another good 15 years when everything resets.

 

[RandomS]

Peso is going down again. It crossed 23 per dollar today. The 40% interest rate could not keep things together for more than 2 days. Govt is now thinking about taking a loan of $30bn USD from IMF.

https://www.reuters.com/article/us-...-imf-to-address-peso-volatility-idUSKBN1I92FC

 

[toongeorges]

Peso is going down again. It crossed 23 per dollar today. The 40% interest rate could not keep things together for more than 2 days.

40% interest is crazy, unless you expect the inflation to be close to 40%

 

[garryl]

Now it is clear that Macri does not want peso to go down. 40% can not be there long.

 

[perry]

I am looking forward to leaving Argentina asap as this is a trainwreck waiting to happen . Whenever the IMF visits a country something big happens a few months down the track . In 2001 just before the crash the IMF stated that Argentina was in excellent shape and its economy was doing nicely . The exact same remarks by the current director Christine Lagarde . Now just three months later we are begging them for the loan on top of the hundreds of billions of dollar of new debt taken on by the new government of Macri. The external debt of Argentina is now double what is was in 2001 and is equivalent to trillions if it was United States ( with the difference we cannot print us dollars) .

I am fearful for the future for all my friends and aquaintances here as the next time it will be much much worse than 2001 as we do not have the world economy to help us this time and a financial collapse will take many many years to resolve itself .