World media in overdrive on Argentina

Perry as you like links:

BBC News homepage: https://www.bbc.com/news (no mention of Argentina)
BBC World page: https://www.bbc.com/news/world (Argentina not here)
BBC Business page: https://www.bbc.com/news/business (mmmmmm)

To see news on Argentina which has sent the world's media into apparent overdrive you have to head to the BBC Latin America page, where the latest informaiton (on the controls) is the fourth item behind a story about murder in Colombia, something about Brazil's president missing a summit, etc.

CNN homepage: https://edition.cnn.com/ (no mention of Argentina)
CNN World page: https://edition.cnn.com/world (Argentina not here)
CNN America page: https://edition.cnn.com/americas (mmmmmm)
CNN Business: https://edition.cnn.com/business (What a surprise, no Argentine)

Argentina is such big business on the news agenda that CNN somehow isn't covering the story.

Al Jazeera homepage: https://www.aljazeera.com/ (no mention of Argentina)
Al Jazeera Latin America page: https://www.aljazeera.com/topics/regions/latin-america.html (Yey, Argentina is the fourth story!)

News.com (Australia) homepage: https://www.news.com.au/ (nope)
News.com World page: https://www.news.com.au/world (sorry)
News.com Finance page: https://www.news.com.au/finance (ummm, no!)
News.com South America: https://www.news.com.au/world/south-america (This is awkward, but no)

So, there are four major news outlets from different countries, I also visited the largest news organizations in Canada, Germany, France, and Japan with similar results. The only mention of Argentina is on dedicated Latin America pages (and then only sporadically depending the outlet) or business/finance pages. Now, I imagine the economy sections of most news outlets covered/cover the current state of Argentina, and so they should.

World media in overdrive you say? An excellent example of the world media going into overdrive about a situation happening in one country would be Boris Johnson and Brexit this week, and then I still think the word overdrive is an exaggeration. News outlets all over the world are putting this front page, often as their lead online story. This is an example of a country that does have importance on a global level (we can debate if that's deserved or waning, but that's not the point). Unfortunately, your arguments are not born from facts.
Perry as you like links:

BBC News homepage: https://www.bbc.com/news (no mention of Argentina)
BBC World page: https://www.bbc.com/news/world (Argentina not here)
BBC Business page: https://www.bbc.com/news/business (mmmmmm)

To see news on Argentina which has sent the world's media into apparent overdrive you have to head to the BBC Latin America page, where the latest informaiton (on the controls) is the fourth item behind a story about murder in Colombia, something about Brazil's president missing a summit, etc.

CNN homepage: https://edition.cnn.com/ (no mention of Argentina)
CNN World page: https://edition.cnn.com/world (Argentina not here)
CNN America page: https://edition.cnn.com/americas (mmmmmm)
CNN Business: https://edition.cnn.com/business (What a surprise, no Argentine)

Argentina is such big business on the news agenda that CNN somehow isn't covering the story.

Al Jazeera homepage: https://www.aljazeera.com/ (no mention of Argentina)
Al Jazeera Latin America page: https://www.aljazeera.com/topics/regions/latin-america.html (Yey, Argentina is the fourth story!)

News.com (Australia) homepage: https://www.news.com.au/ (nope)
News.com World page: https://www.news.com.au/world (sorry)
News.com Finance page: https://www.news.com.au/finance (ummm, no!)
News.com South America: https://www.news.com.au/world/south-america (This is awkward, but no)

So, there are four major news outlets from different countries, I also visited the largest news organizations in Canada, Germany, France, and Japan with similar results. The only mention of Argentina is on dedicated Latin America pages (and then only sporadically depending the outlet) or business/finance pages. Now, I imagine the economy sections of most news outlets covered/cover the current state of Argentina, and so they should.

World media in overdrive you say? An excellent example of the world media going into overdrive about a situation happening in one country would be Boris Johnson and Brexit this week, and then I still think the word overdrive is an exaggeration. News outlets all over the world are putting this front page, often as their lead online story. This is an example of a country that does have importance on a global level (we can debate if that's deserved or waning, but that's not the point). Unfortunately, your arguments are not born from facts.

This forum is not about Peronismo versus Macrismo . Unfortunately people like you are trying to divide the argentinian people with non verifiable facts . I have Argentina on google alerts and in the last month there has been an increase of articles on Argentina of over 1000 percent . Most of these articles are negative creating a pessimistic outlook . The vultures are rubbing their hands with glee hoping for a repeat of the 2001 crash sio they can buy up some cheap real estate and assets . We need to ask ouselves in a civilised world if our actions are causing untold suffering to others and to wish for misery on a people just so you can benefit financially says volumes on you as a person .

I do not hope for a crash but it seems designed and planned for by the powers to be . Argentina has been under fiinancial attack for over 50 years with a clear pattern of booms and busts . There is a group that benefits from this and I believe 100% what is happening now is designed for a very sinister purpose . This will become clear in the next years .
 
The vultures are rubbing their hands with glee hoping for a repeat of the 2001 crash so they can buy up some cheap real estate and assets.

At least a few of them have actually been honest enough to say so...here in the forum...

...but I can't think of anything else good to say about them.

PS: While I certainly hope the GOB would never "seize empty apartments and give them to others" as one member here recently hypothesized, I can't help but "feel" it would "serve them right" if it did.

After all, those who profit from government meddling with the economy which negatively impacts some should not expect to be immune from also being subject to negative impacts at some point.
 
I always find vilification of financial markets and of investors to be amusing. Such vilification always comes from people who have never worked in markets and have never studied the process. Let me explain a different perspective.

People talk about "vultures" and "greedy rich people" and "opportunists." But let's examine this from the perspective of Argentina. A little over a year ago, Argentina issued some $60B in bonds to international investors. Then the IMF loaned Argentina roughly $57B (assuming the final tranche gets filled). Argentina signed bond indentures, which are legal promises to pay. Argentina backed those promises with the full faith and credit of the Republic of Argentina. Under those pretenses, investors lent Argentina money. Argentina expected to pay for that money (through interest payments) and investors expected to be paid for lending that money (through interest payments). With the bonds and IMF loan, total Argentine debt is a little over $100B, let's call it $105B.

So far so good.

Now Argentina is poised to default. Argentina has already failed to make maturity payments on certain bonds. Restructuring talks have begun on other bonds and the IMF knows full repayment is impossible.

The original buyers of the Argentine bonds were pension funds, 401K funds, life insurance companies and medium risk bond funds. So if you are a participant in a pension or 401K, you have suffered losses at Argentina's inability to pay. If you hold a life insurance policy, you have suffered losses at Argentina's inability to pay. If you hold a medium risk bond fund or an emerging market ETF, you have suffered losses at Argentina's inability to pay.

The IMF is funded by its members. The United States funds 18% of the IMF. Of the $57B lent to Argentina, United States taxpayers have paid over $10B (57 x .18 = $10). If you are a US taxpayer, you have suffered losses at Argentina's inability to pay.

Let's put those losses into perspective. Argentine bonds are currently trading in the high 30s. They were sold roughly at par. This means investors have suffered losses of around 62% of principal. If there was $105B in original principal outstanding, total investor losses on Argentine bonds have summed to about $65B, Remember who those investors are: pension funds, 401K funds, life insurance companies, medium risk bond funds, emerging market ETFs, and the IMF - of which US taxpayers fund 18%. If you participate in any of those financial vehicles, you have suffered losses due to Argentina's inability to pay.

Let's quantify the losses. If the debt is restructured at 40% of principal, which is the going consensus right now, investors will permanently lose $62B due to Argentina's inability to pay. This means the nation of Argentina has received $62B in free money. That money was paid for by investors and the IMF, 18% of which is the US. Let me repeat: in a restructuring at 40 cents on the dollar, Argentina will lock in $62B in free money.

There are roughly 45 million people in Argentina. Divide $62B by 45 million and you get: $1,378 dollars. In other words, every man, woman and child in Argentina will receive a free gift of $1,378 dollars. Multiplied by 60 pesos per dollar, every Argentine will receive almost 83,000 pesos in free money from pension funds, 401K funds, life insurance companies, medium risk bond funds, emerging market ETFs and the IMF - which is funded 18% by US taxpayers. Le me repeat that: in a restructuring at 40% of principal, every Argentine will receive a gift from investors of almost 83,000 pesos.

I fail to see financiers and investors as the vultures.
 
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This forum is not about Peronismo versus Macrismo . Unfortunately people like you are trying to divide the argentinian people with non verifiable facts .
Where in my post with news links did I meantion Macrismo or Peronismo?

You are making it about that divide. Because people disagree that everything wrong in Argentina is Macri's fault you go on multi-paragraph rants about vultures. Find one post I have made on this board about "the vultures". You won't be able to find one for a few reasons:

  • I don't know enough about the subject to pass proper opinion. Others here clearly do. I would advise you follow my lead because you seem as equally clueless as me. Or if you do know what you're talking about, start showing it.
  • On the surface and with my level of understanding, I agree with you that there are people waiting in anticipation for Argentina to crash so they can profit. I am not one of those people.
A non-verified fact is saying the world's media is in overdrive when it wasn't. The world media in overdrive is something like when Notre Dame went up in flames, where the lead story on major news outlets is that subject, agencies send reporters to the scene, and many other stories offering myriad persepctivies are provided. In terms of interest in Argentina, I agree the media paid more attention to the country than normal, especially on financial pages. A 1000% spike is nothing (I could also find no 1000% spike on Google Trends, but hey ho) and you can test that in the coming days. Put an alert for iPhone 11 on Google and see the rise you will see when Apple launches that device in 5 days time. I guarantee a simple smartphone launch will see more than a 1000% spike in interest.

Also, you say most the coverage was negative. Well, duh! A negative thing happened and Argentina is a mess worthy of plenty of negativity. This is especially the case from the outside. The world largely has little interest in Argentina, so when the spotlight is shone on the country, the problems here probably evoke negativity. People from other countries don't care enough to spend time understanding that Argentina has potential. Btw, potential eventually turns to failure if not acted upon.

It was normal media reaction to an event and nothing more. I don't care about your Macrismo or Peronismo, I would not vote for either, but I reject your shoddy rhetoric that has become increasingly rambling over recent weeks. What's hilarious about it is you're so lost that you scupper your own point. For the most part, I agree with what you say about Macri, he has been a failure (and increasingly so in recent weeks). Furthermore, I don't neccesarily buy the argument he was given an unfixable situation so is not culpable. However, your ranting without nuance puts you across as a bias person at best and a raving partisan at worst. Someone who doesn't even recognize the systemic failures were not born from Macrismo is looking to shift blame. It seems to be your M.O. as you admit you voted for Macri so were likely displeased by the previous regime. Who will you blame in four years time?

Your way of picking a side and running with it at all costs is the reason Argentina fails and will fail again, so don't put the blame on Macri or for that matter, Peronismo.
 
At least a few of them have actually been honest enough to say so...here in thee forum...

...but I can't think of anything else good to say about them.

PS: While I certainly hope the GOB would never "seize empty apartments and give them to others" as one member here recently hypothesized, I can't help but "feel" it would "serve them right" if it did.

After all, those who profit from government meddling with the economy which negatively impacts some should not expect to be immune from also being subject to negative impacts at some point.


Where in my post with news links did I meantion Macrismo or Peronismo?

You are making it about that divide. Because people disagree that everything wrong in Argentina is Macri's fault you go on multi-paragraph rants about vultures. Find one post I have made on this board about "the vultures". You won't be able to find one for a few reasons:

  • I don't know enough about the subject to pass proper opinion. Others here clearly do. I would advise you follow my lead because you seem as equally clueless as me. Or if you do know what you're talking about, start showing it.
  • On the surface and with my level of understanding, I agree with you that there are people waiting in anticipation for Argentina to crash so they can profit. I am not one of those people.
A non-verified fact is saying the world's media is in overdrive when it wasn't. The world media in overdrive is something like when Notre Dame went up in flames, where the lead story on major news outlets is that subject, agencies send reporters to the scene, and many other stories offering myriad persepctivies are provided. In terms of interest in Argentina, I agree the media paid more attention to the country than normal, especially on financial pages. A 1000% spike is nothing (I could also find no 1000% spike on Google Trends, but hey ho) and you can test that in the coming days. Put an alert for iPhone 11 on Google and see the rise you will see when Apple launches that device in 5 days time. I guarantee a simple smartphone launch will see more than a 1000% spike in interest.

Also, you say most the coverage was negative. Well, duh! A negative thing happened and Argentina is a mess worthy of plenty of negativity. This is especially the case from the outside. The world largely has little interest in Argentina, so when the spotlight is shone on the country, the problems here probably evoke negativity. People from other countries don't care enough to spend time understanding that Argentina has potential. Btw, potential eventually turns to failure if not acted upon.

It was normal media reaction to an event and nothing more. I don't care about your Macrismo or Peronismo, I would not vote for either, but I reject your shoddy rhetoric that has become increasingly rambling over recent weeks. What's hilarious about it is you're so lost that you scupper your own point. For the most part, I agree with what you say about Macri, he has been a failure (and increasingly so in recent weeks). Furthermore, I don't neccesarily buy the argument he was given an unfixable situation so is not culpable. However, your ranting without nuance puts you across as a bias person at best and a raving partisan at worst. Someone who doesn't even recognize the systemic failures were not born from Macrismo is looking to shift blame. It seems to be your M.O. as you admit you voted for Macri so were likely displeased by the previous regime. Who will you blame in four years time?

Your way of picking a side and running with it at all costs is the reason Argentina fails and will fail again, so don't put the blame on Macri or for that matter, Peronismo.

The forum is a safe place to be able to express ones views . I have found over the last years anyone who dared to critisize the current government was labelled a Peronist or a leftist . This has been most unfair.

I like most expats who live in Argentina love this place and do not wish to see it go down in flames. I agree that Argentina has deep problems that have been inherent in the society for 50 years or more.

The imf loan should never have been taken out in our name . The money was mismanaged and now Argentina will have to pay this back . This is the mayor reason that Argentinas future is in diré straits whooever wins power.
 
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