The economic future from Argentina

[nikad]

Country-risk soars 17.4%


Argentina faces the worst bond drop since crisis
Argentine bonds have not fallen so sharply since 2001 crisis. Investors are leaving emerging countries' bonds, worried about reliability of US real estate market. Argentina is one of the most affected markets together with Turkey. Among peso-denominated papers, Discount loses 5.8 per cent and Par, 5.8 per cent. Dollar-denominated Par, US law, slides 11.2 per cent. BOGAR 2018 slides 6.4 per cent; PRO13, 7.4 per cent; and PRO12, 4.8 per cent. GDP coupon in pesos retreats 6.4 per cent and the one denominated in dollars plummets 6.6 per cent. Argentine country-risk rises 70 basis points, reaching a new maximum of 471 units. This represents a 17.4-per cent hike. Buenos Aires Stock Exchange plummets 4.7 per cent

Bondholders historycally sold before elections, there is no surprise there at all, that is why the dollar exchange rate chaanged in last couple of days

 

[nikad]

PK, buy all the materials now but keep a very, very detailed inventory of every single little thing you have bought, you use and what you should have left. Theft by workers on building sites is very common (and in no way is it unique to Argentina). Do this yourself and do not trust your architect nor your jefe de obra to do all the work for you.

I absolutely agree with you, also, it is always best to check with your own eyes that things are being completed.
nik

 

[nikad]

A request for practical advice. We are building a home in Argentina should we buy all of the materials quickly or take our time. If everyone is concerned about rampant inflation and the possibility of the peso/dollar being revisited it would seem we better get busy. Thoughts?

PK, If I was you and had the money, I would buy as much as possible, things tend to get kind of crazy before elections, and nobody thinks inflation will stop in the coming months.

 

[Granadaiscool]

Country-risk soars 17.4%



Argentina faces the worst bond drop since crisis
Argentine bonds have not fallen so sharply since 2001 crisis. Investors are leaving emerging countries' bonds, worried about reliability of US real estate market. Argentina is one of the most affected markets together with Turkey. Among peso-denominated papers, Discount loses 5.8 per cent and Par, 5.8 per cent. Dollar-denominated Par, US law, slides 11.2 per cent. BOGAR 2018 slides 6.4 per cent; PRO13, 7.4 per cent; and PRO12, 4.8 per cent. GDP coupon in pesos retreats 6.4 per cent and the one denominated in dollars plummets 6.6 per cent. Argentine country-risk rises 70 basis points, reaching a new maximum of 471 units. This represents a 17.4-per cent hike. Buenos Aires Stock Exchange plummets 4.7 per cent



1: Elections are 3 months away
2: This got started by the problems at the subprime market in the USA. Investors sell off high risk bonds and go with less risky investments
3: Mexico, Brasil, Chile and Colombia didn´t lose nearly as much as Argentina did
4: There is widespread lack of credit in the USA. This will affect Argentina
5: If the crisis in the USA is worse, you can't even imagine what will happen to Argentina


Bondholders historycally sold before elections, there is no surprise there at all, that is why the dollar exchange rate chaanged in last couple of days

 

[TatanBsAs]

so let's say, that DC (mostly due to its National Gallery), Philadelphia, New York (Moma, Metrop., Frick Collection) and Chicago (Chicago's Symphony) is all that one of the biggest and most developed world-wide countries has to offer? (Culturally speaking)

How much more do you want? Or does the bar keep getting raised ever higher just to malign the poor United States?
Let's add that the rapid growing cities in the south (which are prone to become the largest by the statistics specially if the mexican immigration continues at this pace) have no cultural offer whatsoever.
That's the Hispanic influence for you.
Even if you take any tiny european village (let's say Santiago de Compostela, Carcassone, Lucca) the difference is such that you can't speak on equal terms of european and american cities.
No-one is seeking to compare European metropolises with their US counterparts: one would think the exercise would be restricted to the New World: both Argentina and the US date back to roughly the same period. And it's simply not possible to compare one with the other -- any such attempt is risible. One is the heart of worldwide empire, the other a South American backwater. One is able to afford to buy anything and everything it wants, the other perpetually broke. One has philanthropists like Rockefeller, Vanderbilt, Carnegie, Mellon, Getty, and a host of others, the other has its rich surreptitiously transferring their wealth abroad (such little faith do they have in their country). To all these proclamations of Argentinian cultural superiority, I'm tempted to say, "The lady doth protest too much."

BigBadRacist. And by the way what the hell is a hispanic?

 

[TatanBsAs]

"Danish Boy you have taken a small section of youth here and defined all Argentines as what you see in Big Brother."

That "small section of youth" represents the whole. What I see on Gran Hermano reflects a way of thinking and acting that is prevalent among Argentine youth. You are really uninformed, my friend... And you obviously haven't read the article, which btw was written by ARGENTINE EXPERTS.

"In actual fact compared to what I see in Big Brother Europe where sex and sleazy behaviour is the norm Argentines are very well behavioured,"

Well, adults have sex ya know... Does that equal bad behavior??? Maybe if the Argentine participants weren't so "histericos" about sex and relationships, they would be doing the same. Funnily enough, that is an Argentine characteristic which is also addressed in the article. The author says that young arguies are known for their "histeriqueo". Does any of this sound familiar to you?

"I have noticed that many people have come to this forum with very little knowledge of this society and have judged it with a arrogance that is grossly unfair and untrue."

Isn't that the pot calling the kettle black? The only arrogance I see stems from Argentines who claim to be superior to other cultures and deny reality.

"This is not a perfect country and it has poverty social inequality and bad footpaths dog*bleep* and terrible drivers but on the other side it has tremendous scenery excellent food and in Buenos Aires City outstanding nightlife."

And your point is?

"I read somewhere in this forum about bookshops and Argentine reading habits and I can tell you that as a citizen here for 4 years that the cultural life is equal to any in the world and the bookshops here are tremendous and numerous . Walk along Avenida Santa Fe and you will see literally dozens of bookshops on every second block there is at least one . One of the most beautiful in the world el Atheneo is located on Callao and Santa Fe . I find this place full night and day with eager readers and buyers as well. Argentines buy a lot of books certainly more per capita than other societies I have lived in ."

Yeah, the bookshops are great. Unfortunately, Argentines' reading habits are NOT.
Here are some facts for you:
"Tres de cada diez argentinos no leen nunca y el 45% no leyó ningún libro durante el año que pasó."
http://www.elcronistaregional.com.ar/cultura/2002/05/15/340

"I do not understand how someone living in small towns of United States Or Europe coould possible judge us without knowing or visiting us."

I said I LIVE IN ARGENTINA and no, I don't come from any small town. I've always lived in big cities.

"I feel that this attitude stems from the feeling that Europeans and Americans beleive that South americans are lesser than them which is a form of ingrained snobbery."

What about Argentines??? Do they ever see their own snobbery? Perhaps they should look themselves in the mirror more often.

Danish boy, nobody is saying we are better then anyone, it is just that everybody is critizing Argentina in a disrespectful manner, even though a lot of the them live hereng here. This only gives the following options:
a) they really like it here.
b) some people are here because their wife/husband/girlfriend/boyfriend, life partner, are Argentine.
c) Its cheap down here.
d) they couldn't be successfull back home.
You pick. By the way, please enlighten us and tell us what denmark is world wide known for?
PS Igor don' t ban me.

 

[igor]

It looks like this thread has gone a bit off topic. Please, start a new one if you feel like it.