Returns dolar turista

[Bajo_cero2]

Are you sure you're a lawyer? You keep jumping from argument to argument in an illogical and disoriented manner.

Much has been made about the economy 2F has inherited. As we reflect on Macri, let's not forget the economy he inherited and the urgent changes that needed to be made. Just as Alberto's economy will be strongly influenced by what Macri left him, so was Macri's economy strongly influenced by the dumpster fire Cristina (thief) left Macri.

When Macri took office, inflation was running 45% annually. Argentina's trade deficit was huge. The country was in a disgraceful state of default and capital markets were completely closed to it. Cristina was printing pesos like crazy, which caused the domestic money supply to spin out of control. And due to Argentina's status as a rogue nation, foreign exchange reserves had dwindled to a level equally low to that of now. Last, the only thing that helped CFK in her last year was a strong peso - but the peso gained strength only because Macri was poised to be elected. This encouraged western investors to buy Argentine assets, including bullish bets on the peso. If not for Macri's expected arrival to office, CFK's peso would have been equally weak as her first years, which would have exacerbated her dismal management of the Argentine economy.

CFK left Macri an awful mess. This tied Macri's hands. Macri leaves Alberto a similar situation.

FYI inflation was 24/30% but not 45%:

Índice de inflación anual y mensual Últimos años Argentina

Índice de inflación en Argentina anual y mensual: últimos años

estudiodelamo.com

And CFK left Macri a country wich’s economy was in a lot better shape otherwise he was not going to be able to take so much debt.
Here you have Duvogne confessing they receivef the country indebted:

So, he received and delivered the country in defaul bur with 100 billion extra debt, double the inflation, no vaccines at hospitals, etc.
Meanwhile, his companies made money like never, He flew cheap usd and self forgive debts and money laundry. Nice.

 

[perry]

Are you sure you're a lawyer? You keep jumping from argument to argument in an illogical and disoriented manner.

Much has been made about the economy 2F has inherited. As we reflect on Macri, let's not forget the economy he inherited and the urgent changes that needed to be made. Just as Alberto's economy will be strongly influenced by what Macri left him, so was Macri's economy strongly influenced by the dumpster fire Cristina (thief) left Macri.

When Macri took office, inflation was running 45% annually. Argentina's trade deficit was huge. The country was in a disgraceful state of default and capital markets were completely closed to it. Cristina was printing pesos like crazy, which caused the domestic money supply to spin out of control. And due to Argentina's status as a rogue nation, foreign exchange reserves had dwindled to a level equally low to that of now. Last, the only thing that helped CFK in her last year was a strong peso - but the peso gained strength only because Macri was poised to be elected. This encouraged western investors to buy Argentine assets, including bullish bets on the peso. If not for Macri's expected arrival to office, CFK's peso would have been equally weak as her first years, which would have exacerbated her dismal management of the Argentine economy.

CFK left Macri an awful mess. This tied Macri's hands. Macri leaves Alberto a similar situation.

Your post is misinformed . The mess that Argentina is is now was created 90 percent by Mauricio Macri . The economy was completely destroyed under his watch with small businesses sent to ruin . the demise of the middle class, and a foreign debt taken on by this leader that was unparralled in Argentinas history . The real estate market in 2019 had its worst year ever on record much worse than 2001 . There is no confidence in the argentinain economy now due to the terrible mistakes made under the Macri government . Will it get better now under the new Peronist government I doubt it as the debt is far too big .the foreign reserves far too low , combined with a troubled world financial situation . This is a recipe for disaster which will take a long time to recover .

 

[TheDonald]

Your post is misinformed . The mess that Argentina is is now was created 90 percent by Mauricio Macri . The economy was completely destroyed under his watch with small businesses sent to ruin . the demise of the middle class, and a foreign debt taken on by this leader that was unparralled in Argentinas history . The real estate market in 2019 had its worst year ever on record much worse than 2001 . There is no confidence in the argentinain economy now due to the terrible mistakes made under the Macri government . Will it get better now under the new Peronist government I doubt it as the debt is far too big .the foreign reserves far too low , combined with a troubled world financial situation . This is a recipe for disaster which will take a long time to recover .

Please read posts carefully before you respond. It is clear that you have not read my post carefully.

To blame the current economic situation entirely on Macri is like saying a child abused at home is entirely responsible for bullying others at school. One situation creates a chain of events. As I stated in my previous post, Macri inherited an economic mess from CFK. This is not an opinion; it is a statement of fact. No reasonable economist considered Argentina's economy healthy or sustainable in 2015.

Speaking theoretically, if CFK had served another 4 years, she would have had to make the same difficult decisions. A country cannot keep printing money forever. A country cannot maintain rogue nation status forever. A country cannot stay shut out of international markets forever. On and on it went. Macri had to make difficult decisions based on CFK's imprudence.

Macri's decisions have worked out poorly for Argentina. We'll see how 2F decisions work out.

 

[perry]

Please read posts carefully before you respond. It is clear that you have not read my post carefully.

To blame the current economic situation entirely on Macri is like saying a child abused at home is entirely responsible for bullying others at school. One situation creates a chain of events. As I stated in my previous post, Macri inherited an economic mess from CFK. This is not an opinion; it is a statement of fact. No reasonable economist considered Argentina's economy healthy or sustainable in 2015.

Speaking theoretically, if CFK had served another 4 years, she would have had to make the same difficult decisions. A country cannot keep printing money forever. A country cannot maintain rogue nation status forever. A country cannot stay shut out of international markets forever. On and on it went. Macri had to make difficult decisions based on CFK's imprudence.

Macri's decisions have worked out poorly for Argentina. We'll see how 2F decisions work out.

You are not stating any facts with your post . Macri inherited a government with very little debt FACT . The foreign debt was accumulated by him in his term and was not inherited by the previous government . Where is the accounting of all the money that he borrowed .?

This to me is the crime of the century that few people are talking about .

 

[TheDonald]

Your statement that Argentina was healthier because it carried lower dollar-denominated debt is only 50% of the story. It was unhealthy due to excessive printing of pesos, which swelled the money supply and provoked inflation.

Countries that continually print money rarely have high debt balances. They pay their bills by printing money, not by borrowing. This is partly out of necessity; foreign investors won't lend to countries that print lots money.

CFK would have loved to borrow. She tried to borrow. Where do you think the yuan swap came from? That was a structured borrowing from the international mafia that is China. No other country would lend a thief like CFK any money.

You seem to miss my point over and over again: CFK left Macri a mess. Macri leaves 2F a mess. Both former leaders mismanaged the economy.

 

[perry]

Your statement that Argentina was healthier because it carried lower dollar-denominated debt is only 50% of the story. It was unhealthy due to excessive printing of pesos, which swelled the money supply and provoked inflation.

Countries that continually print money rarely have high debt balances. They pay their bills by printing money, not by borrowing. This is partly out of necessity; foreign investors won't lend to countries that print lots money.

You seem to miss my point over and over again: CFK left Macri a mess. Macri leaves 2F a mess. Both former leaders mismanaged the economy.

Why do you not answer the question instead of construing long posts in the hope to convince others of your beliefs . Your name clearly shows that you suffer god complex look it up on google .

Macri inherited a government with very little foreign debt . He then accumulated over 100 billion dollars of debt without any accounting whatsoever . This to me vastly exceeds any crime committed under Cristinas government .

Can I ask you a question Donald why was inflation double under Macri since your excuse was the printing press was working overtime under Christina. There was little money around the last years but inflation was over 40 %. Look forward to your response

 

[perry]

delete

 

[Traveler]

MM kept the USD too low for too long because this is great for financial ganbling and money flight. Now that the economy is destroyed, what difference does it makes. It is going to take years to recover.
You ask for a proper exchange rate? That is scary. You have to see how many usd are at the Central Bank and divide the by the USD plus Lebacs and Leqics. This is very scary.

Sorry bajo...but the economy here was destroyed long before MM. You could thank the K's for that but I know you won't.

 

[perry]

Sorry bajo...but the economy here was destroyed long before MM. You could thank the K's for that but I know you won't.

Lets look at the facts and not spout retoric . Mauricio Macri caused horrific damage to the economy and created the destruction of the middle classes
He inherited a government with very low foreign debt and he left the government with the largest debt in Argentinas history . This money was unaccounted for . Where did it go , what did he invest in , how did he help businesses and people to thrive?

His government was anti capitalist and only favoured 2 percent of the population leaving the rest struggling . Now we are left with a situation that imho will be impossible to surpass in the short to long term .

 

[lunar]

Mauricio Macri caused ...

His government was anti capitalist and only favoured 2 percent of the population ...

In your mind capitalism and socialism are in reverse. You just don't understand the basics. And I think, this is hopeless.