Argentine Economy

What will CFK and her minions think of next?

[URL]http://www.bloomberg.com/news/2014-09-18/argentina-blames-holdouts-as-black-market-peso-plunges-to-record.html?cmpid=yhoo[/URL]

Tres3.

[QUOTE=Tres3;441363]What will CFK and her minions think of next?

[URL]http://www.bloomberg.com/news/2014-09-18/argentina-blames-holdouts-as-black-market-peso-plunges-to-record.html?cmpid=yhoo[/URL]

Tres3.[/QUOTE]Can we assume a devaluation will occur soon? I would like to travel to BA, but the currency market makes me uncomfortable about travel.

[QUOTE=Tres3;441363]What will CFK and her minions think of next?

[URL]http://www.bloomberg.com/news/2014-09-18/argentina-blames-holdouts-as-black-market-peso-plunges-to-record.html?cmpid=yhoo[/URL]

Tres3.[/QUOTE]Like most statements made by politicians to crowds of idiots, this sounds good but it doesn't pass even a cursory logical review.

The reality is that the holdouts have not the slightest desire to see the Argentina peso fall in value or to otherwise see the Argentine economy crash.

In fact, the holdouts would prefer to see a strong peso and a strong Argentine economy which would improve their chances of being repaid.

To say it more directly: You can't collect a debt from a dead creditor.

Thanks,

Jax.

[URL]http://www.bloomberg.com/news/2014-09-19/argentina-s-poverty-rate-may-quadruple-to-40-world-bank-says.html[/URL] - If this article is accurate I don't understand the part about the goal of raising the percentage of those covered with health care to 50% from 28%.

I thought everyone in Argentina got health care from the government already.

[QUOTE=RetireNTrave;441369][URL]http://www.bloomberg.com/news/2014-09-19/argentina-s-poverty-rate-may-quadruple-to-40-world-bank-says.html[/URL] - If this article is accurate I don't understand the part about the goal of raising the percentage of those covered with health care to 50% from 28%.

I thought everyone in Argentina got health care from the government already.[/QUOTE]Only sort of. The public hospitals are free but insurance coverage is through the government only for government workers. Then you have the unions' and other employers' plans, and then you have private plans. It's known as a "three-tiered system. " So the citizens without insurance can go to the hospital, or they can go to the hospital and wait around in line to make an appointment at some future date, often quite a ways in the future. Works okay if you have say a broken arm, but not so good for chronic medical conditions.

As long as CFK is in power, it appears that Argentina will continue to fight a losing battle. Meanwhile, lawyers for both sides are laughing all the way to the bank, and Argentine poverty continues to grow.

[URL]http://finance.yahoo.com/news/u-court-tosses-argentina-citigroup-appeal-bond-case-183934826--sector.html[/URL]

Tres3.

Soros must know something about Argentina that the rest of the investing world does not.

[URL]http://finance.yahoo.com/news/argentinas-fernandez-meets-billionaire-investor-soros-york-062520167--sector.html[/URL]

Tres3.

[QUOTE=Tres3;441443]Soros must know something about Argentina that the rest of the investing world does not.

[URL]http://finance.yahoo.com/news/argentinas-fernandez-meets-billionaire-investor-soros-york-062520167--sector.html[/URL]

Tres3.[/QUOTE]No, like Esten, he never met a left wing politician that he didn't get weak in the knees at the mere thought of kissing their ass. The bigger the wacko the more George baby genuflects.

Soros owns 3. 5 % or YPF (500 MM) and is clearly incented to clean up the "default" and clear the way for new foreign investment.

He may be willing to negotiate with the holdouts in return for "future considerations".

[URL]http://www.buenosairesherald.com/article/170572/eurnekian-if-it-is-in-soros-hand-to-do-something-i-think-he-will[/URL]

Argentina is willing to negotiate, BUT only if the New York ruling is stayed. I guess that Argentina also believes that pigs can fly.

[URL]http://www.bloomberg.com/news/2014-09-26/argentina-cites-willingness-to-negotiate-with-holdouts-next-year.html?cmpid=yhoo[/URL]

Tres3.

This is what Argentina gets for writing such ridiculous bond terms. A good CAC would have put a stop to all this nonsense. Having said that. These funds better hurry up and negotiate while they still have the upper hand. Global opinion (not just hedge fund investors) is against them. And the voices are growing louder. IMF, WB, UN, EU, US State Department, UK courts, France, Germany, most well respected economists etc.

[URL]http://www.un.org/apps/news/story.asp?NewsID=48682[/URL]#. VCXFzajn8 sI.

[URL]http://unctad.org/en/pages/newsdetails.aspx?OriginalVersionID=783&Sitemap_x0020_Taxonomy=UNCTAD%20Home[/URL]

[URL]http://harvardpolitics.com/world/argentina-holdouts-hurt/[/URL]

What the US governments opinion is on debt and default. As least as far as the US of A is concerned. Luckily we can just print our way out of default.

[URL]http://www.heritage.org/research/reports/2013/09/debt-limit-options-and-the-way-forward[/URL]

He came to BA with a US $100,000,000 line of credit and invented factoring outside of the Argentine banking system by creating financial cooperatives.

He left a billionaire.

[QUOTE=MiamiBob;441487]Soros became a billionaire in BA and still owns a real estate empire in Argentina.[/QUOTE]Including the Abasto Shopping center, which was for years a wholesale grocery market before he renovated and converted it into a modern shopping center.

[QUOTE=Jackson;441489]Including the Abasto Shopping center, which was for years a wholesale grocery market before he renovated and converted it into a modern shopping center.[/QUOTE]Interesting anecdote. Now it makes sense why the only Kosher mcdonalds outside of Israel is located there. I always thought it was curiously random.

[QUOTE=BadMan;441490]Interesting anecdote. Now it makes sense why the only Kosher mcdonalds outside of Israel is located there. I always thought it was curiously random.[/QUOTE]I thought that it was because of the neighborhood that it's in.

I was there one day and a tourist asked me to take a picture of him standing in front of the McDonald's but when I started to take the picture a security guard told me that I could not take any pictures.

I asked the guard if he had a gun and when he said "NO" I said "Fuck You" and took the picture anyway.

Like an English Cop would say "Stop or I'll say Stop Again! ".

Had to laugh!

Paranoid about someone blowing up the McDonald's I guess.

TL.