News In The Usa Is Argentina Might Default Again

[Montauk_Project]

In 2005 I was editing a short film with another editor. The editor showed me his new purchase, that he had spent weeks to save for: a pen to write on dvds. That is a bad economy.
Write now I have a hard time getting workers, everyone is booked.
Gotta put things in perspective.
But if you wish for things to get bad enough, it might just happen.

 

[John.St]

World's debt clock

Sometimes we forget that if everybody owes somebody else, then those somebody else must be owed something.

A owes B who owes C who owes D who owes A - extremely simplified.

 

[John.St]

For an economy in the tank, it is very hard to get a spot in my favorite sushi place!

"Apres moi, le deluge" and "eat, drink, and be merry, for tomorrow we die".

 

[Joe]

Sometimes we forget that if everybody owes somebody else, then those somebody else must be owed something.

A owes B who owes C who owes D who owes A - extremely simplified.

Debts that can't be paid won't be repaid. Massive amounts of defaults lead to a lost of confidence and economic slowdown or outright collapse. Argentine economic history adequately demonstrates this.

 

[John.St]

There is 30 billion left more or less, why might be there a default?

If e.g. you own 100 and must pay 120, and your creditors don't trust you, a default may be the only way out.

 

[John.St]

Even in early 2002, restaurants in Palermo were packed.

All the expensive restaurants were packed. I remember one of my favorite places, Chiquilin in Sarmiento - at least 60% occupied on a Monday or Tuesday night.

 

[Greg2231]

There is 30 billion left more or less, why might be there a default?

Is there really 29.xxx Billion left, how much is cash/gold, and how much of that is bonds, some of which are bonds from other government agencies? hard to find reliable figures on the exact makeup of the reserves, could be for a reason I suppose

 

[Gaucho_ec]

Sometimes we forget that if everybody owes somebody else, then those somebody else must be owed something.

A owes B who owes C who owes D who owes A - extremely simplified.

Sorry for my ignorance, but how can I see that in that map? All I see is what countries owe.
Or should I look for the surplus in the "Richest companies/persons" list?

 

[sleslie23]

That was a great movie! Wait ... weren't there earthquakes, violent tornadoes in Los Angeles, and a giant tidal wave that swamped Manhattan - and then it froze? I didn't think they were ever going to get out of there, especially with all of those zombies!

You've confused a movie with a typical Alex Jones broadcast. Not that anyone can fault you. It's impossible to tell the difference.

 

[Jaredberryman]

Look, it could be much worse than it is right now in Argentina, and it has been in the past. Things just do not look good, but they were in a much worse position in 2001. Unemployment in 2001 was like around 30 percent or so. Right now people still have jobs, and the government does have at least a little leeway with some dollar reserves. So things are not going to collapse like they did in 2001. What we might begin to see is a heavy recession in this country of steadily growing unemployment and a strong devaluation of their currency, but at this point in time, I really don't think it's going to collapse like a house of cards. It is still worrisome though.