Returns dolar turista

[Traveler]

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 .

Start by finding out just how Lazaro Baez operates, grew fantastically wealthy and hid much of his purloined loot. Then we'll talk.

 

[toongeorges]

Macri inherited a government with very little debt FACT .

Yes and Macri screwed up, but also CFK gave him a mess and the crisis started before Macri.

Argentina had a low debt, because it was still in default and therefore could not borrow money. It had a huge deficit though.

Macri took Argentina out of default, so he could borrow a lot of money. He did not fix the deficit and the inflation and wasted the money and now Argentina is heading for another default.

If CFK had won from Macri in 2015, she would not have received money from the "buitres" and foreign debt would be lower. She would not have reduced the deficit either, most likely she would have gone out of control with printing pesos and inflation would have been much higher.

I guess if CFK had continued, the last 4 years would have been worse, but the future would have been brighter, because of the lower external debt.

It looks like CFK screwed Macri by giving him a bad economic situation and now he is screwing the 2 Fs back by gifting them a looming default.

I think the worst part is still to come.

 

[Bajo_cero2]

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.

It is not the same to make difficult decision by a by a statesman or by a hollow head.

 

[Bajo_cero2]

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.

Your statements makes no sense because MM never stopped printing money plus leliqs and lebacs plus taking debt like crazy.
So, he did the same mistakes plus another 4.
FYI printing money is a way for financing the State without external debt. The Us did it until the WWII.

 

[Bajo_cero2]

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.

The economy was destroyed by the dictatorship 1976/1982. The external debt by 1975 was half a billion usd and 90 billion by the end and the were the most industrialized country in South America with the 2nd widest middle class in the world after the US.
MM followed the same economy program but faster.

 

[Bajo_cero2]

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

MM applied the conomy moder of the viceroyalty of the Rio de la Plata. I think you are clueless about what was happening here.

 

[Bajo_cero2]

Yes and Macri screwed up, but also CFK gave him a mess and the crisis started before Macri.

Argentina had a low debt, because it was still in default and therefore could not borrow money. It had a huge deficit though.

Macri took Argentina out of default, so he could borrow a lot of money. He did not fix the deficit and the inflation and wasted the money and now Argentina is heading for another default.

If CFK had won from Macri in 2015, she would not have received money from the "buitres" and foreign debt would be lower. She would not have reduced the deficit either, most likely she would have gone out of control with printing pesos and inflation would have been much higher.

I guess if CFK had continued, the last 4 years would have been worse, but the future would have been brighter, because of the lower external debt.

It looks like CFK screwed Macri by giving him a bad economic situation and now he is screwing the 2 Fs back by gifting them a looming default.

I think the worst part is still to come.

She was not able to continue. But Scioli did.
He was going to make difficult decisions without paying the vultures, without taking loans, without destroying the economy and the middle class.
We would be much better

 

[lunar]

MM applied the conomy moder of the viceroyalty of the Rio de la Plata. I think you are clueless about what was happening here.

"Conomy moder" and viceroyalty have nothing to do with capitalism and socialism.

 

[Bajo_cero2]

"Conomy moder" and viceroyalty have nothing to do with capitalism and socialism.

Precisely. That's why these categories do not explain what happened that is, in that case, incomprehensible.

 

[lunar]

Precisely. That's why these categories do not explain what happened that is, in that case, incomprehensible.

I guess, every person who is not clueless should mention "viceroyalty" in every post. This is the key to understanding Argentina. Life has little changed since the 18th century here.

Does this "viceroyalty model" apply to other US client states like Ukraine? Or is it only used in former Spanish colonies?