Thread: Argentine Economy

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  1. #1897
    Senior Member


    Posts: 536

    Beans vs Rice vs Corn

    Quote Originally Posted by Dickhead  [View Original Post]
    Right, the aguinaldo is only one month, or fifteen days in the case of Mxico. I do believe the other poster was referring to vacation time, sick leave, and the plethora of holidays in Argentina, when saying they work for ten months.

    My guess would be that rice grows much better than beans in The Philippines. Of course, the original diet of the indigenous people in much of what is now Latin America was beans and corn, not beans and rice. And unfortunately for filipinos, beans are significantly more nutritious than rice. Sitting here in my apartment in the world's leading olive-producing country, I'm sure glad I don't have to live on rice and beans, but I could sure live on olives for a while.
    You are very correct when you say that beans are far more nutritious than rice. I think that the scarcity of corn caused by slash and burn agricultural practices in Latin America combined with the discovery that rice and beans made a "super food" led to rice supplementing, but not completely replacing, corn in the Latin American diet. Dry land raised rice strains did not hurt either. The still perplexing thing is that there are many types of beans, and there is bound to be a type that grows reasonably well in the Philippines. For example most all of the black beans consumed by humans are grown in Minnesota. I can only speculate that most Filipinos simply have not acquired a taste for beans--too bad. BTW, I never ate an olive that I did not like.

    Tres3.

  2. #1896
    Quote Originally Posted by Tres3  [View Original Post]
    In the Latin countries that I have been to, Aguinaldo is only one month. For the other two months are you referring to vacations and holidays???? The Philippines is really a Latin country that happens to be located in Asia. Spain ruled for over 400 years, and until Mexican Independence, the Philippines were controlled by the Viceroy of Mexico. The strange thing is that even though the Filipinos love rice, beans never became a part of their diet, like in Hispanoamerica.

    Tres3.
    Right, the aguinaldo is only one month, or fifteen days in the case of México. I do believe the other poster was referring to vacation time, sick leave, and the plethora of holidays in Argentina, when saying they work for ten months.

    My guess would be that rice grows much better than beans in The Philippines. Of course, the original diet of the indigenous people in much of what is now Latin America was beans and corn, not beans and rice. And unfortunately for filipinos, beans are significantly more nutritious than rice. Sitting here in my apartment in the world's leading olive-producing country, I'm sure glad I don't have to live on rice and beans, but I could sure live on olives for a while.

  3. #1895
    Senior Member


    Posts: 536

    Aguinaldo?????

    Quote Originally Posted by Dickhead  [View Original Post]
    If you are referring to the aguinaldo, it's the norm in many other Latin countries. Mxico, Chile, Brazil, Nicaragua, Colombia, and even the Philippines have this system. It's also common in France, although not mandatory.
    In the Latin countries that I have been to, Aguinaldo is only one month. For the other two months are you referring to vacations and holidays???? The Philippines is really a Latin country that happens to be located in Asia. Spain ruled for over 400 years, and until Mexican Independence, the Philippines were controlled by the Viceroy of Mexico. The strange thing is that even though the Filipinos love rice, beans never became a part of their diet, like in Hispanoamerica.

    Tres3.

  4. #1894
    Quote Originally Posted by Gandolf50  [View Original Post]
    where else in the world to people work for ten months a year (or less) and collect for thirteen months????
    If you are referring to the aguinaldo, it's the norm in many other Latin countries. México, Chile, Brazil, Nicaragua, Colombia, and even the Philippines have this system. It's also common in France, although not mandatory.

  5. #1893
    There have been a lot of strikes lately. And why not? Under the world famous Argie system of nonsense, employees collect their wages while on strike! After all, where else in the world to people work for ten months a year (or less) and collect for thirteen months???? But only those employees in "blanco" of course.

  6. #1892
    Quote Originally Posted by Ponelover  [View Original Post]
    Saw BBC news report that there was a 24 hour general strike yesterday in BA? They showed some pictures of deserted main streets, Constitution and 9 de Julio. Says security forces had to use water cannon and tear gas to control protesters who blocked the main highway leading from the north to the capital. Report says inflation 40% last year and expected to be about 20 % this year and protesters were calling for increased wages.
    That's terrible news. Well, 'sadly' bad times bring more chicas into the business.

  7. #1891

    24 Hour General Strike in BA

    Saw BBC news report that there was a 24 hour general strike yesterday in BA? They showed some pictures of deserted main streets, Constitution and 9 de Julio. Says security forces had to use water cannon and tear gas to control protesters who blocked the main highway leading from the north to the capital. Report says inflation 40% last year and expected to be about 20 % this year and protesters were calling for increased wages.

  8. #1890
    Senior Member


    Posts: 536

    Macri has a "Tough Row to Hoe"

    I agree that Macri is a breath of fresh air, BUT the country is run by civil servants, and the majority of them are Peronistas. Since 1900 the country has defaulted on its foreign debt nine (9) times. They seem to always find another sucker to loan them more money. 6.5% is not much of a risk premium. A person might make some money on this ponzi scheme, if he cashes out early, and leaves someone else holding the bag. There is a reason that real estate in this country is traded in USD, and smart Argentines have most of their money in USD.

    Tres3.

  9. #1889

    Zulauf recommends going long the Argentine Peso

    The guys in the Barron's Roundtable are not always right but they have been around the block a few times. Does anyone know how you actually do the following trade?

    Have you other investment picks?

    In the next year, there will be an investment opportunity in Argentina, where there has been a fundamental political change after 70 years of a combination of socialism, conservatism, nationalism, and corruption. This change could be as important as the Reagan presidency was to the U.S.

    Mauricio Macri, Argentinas new president, is open-minded, with an international view. He has a great team of experts in place in finance and economics, and at the central bank. He lifted export sanctions and currency controls. Thats why the dollar/peso ratio shot up to almost 16 from nine. It pushed inflation rates up, but inflation is expected to decline next year as the impact of the one-time devaluation disappears. Argentina also has settled its problems with foreign creditors, and has come back to the capital markets. In addition, Macri has announced a tax amnesty that will bring in more tax revenue.

    What is the best way to invest in Argentinas progress?

    Im bullish on the Argentine peso. You can buy it against the dollar on a one-year forward basis. The interbank forward rate is 17.31 pesos to the dollar, versus the spot rate of 13.95 pesos. This gives you a carry of 19.4% for 12 months if the spot price stays unchanged.

    Argentina has recently issued $16 billion of dollar-denominated bonds with maturities of three, five, 10, and 30 years. I bought the three-year, which carried a coupon of 6.25%. The yield has already fallen to 4.5%. If you are more adventurous, you can buy five-year debt.

    In the near term, things arent easy in Argentina. The economy is in recession. The inflation rate is 40%. There are demonstrations and strikes. The next nine to 12 months is critical, until people see that inflation is normalizing. But Argentina has little government debt. It couldnt tap the capital markets for a long time.

  10. #1888
    Senior Member


    Posts: 536

    Argentina: Why Invest In Largest Emerging Debtor Of 2016?

    The below link is to an article about the proposed Argentine bond issuance. Personally, I would not touch the bonds with a ten foot pole.

    http://blogs.barrons.com/emergingmar...rrons&ru=yahoo

    Tres3.

  11. #1887
    Senior Member


    Posts: 536

    The Latest: Argentine politician cited in offshore documents

    The attached link names not only Macri, but a whole laundry list of worldwide politicians who set up offshore accounts using the Panama law firm. I speculate that this list is only the tip of the iceberg.

    http://finance.yahoo.com/news/latest...062350554.html

    Tres3.

  12. #1886
    Senior Member


    Posts: 536

    Argentine Congress approves deal to end debt standoff in US

    The below article shows a surprising amount of common sense on the part of the Argentine Congress and a repudiation of CFK. The big question now is who will buy the new debt that Argentina plans to sell so that they can pay the old debt. I guess that Argentina believes that P.T. Barnum is alive and well.

    http://news.yahoo.com/argentine-sena...210725713.html

    Tres3.

  13. #1885
    Senior Member


    Posts: 536

    Argentina Settlement Surprise Leaves Some Investors in the Cold

    It looks as if Argentina has once again proven that one cannot change the stripes on a zebra.

    http://www.bloomberg.com/news/articl...=yhoo.headline

    Tres3.

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  15. #1884
    Senior Member


    Posts: 536

    Argentina, creditors agree to $155 million more in default settlement: mediator

    If I have read the below linked article correctly, it looks as if the Argentina Government is robbing Peter to pay Paul.

    http://finance.yahoo.com/news/argent...--finance.html

    Tres3.

  16. #1883
    Senior Member


    Posts: 536

    Try to end the confusion

    Quote Originally Posted by DaddyRulz  [View Original Post]
    I realize this is a very complicated issue but I'm confused about something.

    I always through that Singers group had bought up the default bonds for pennies on the dollar. I assumed that for years until I was directed to some information that said they paid around 70 cents on the dollar. If that is true, how could the original debt have been 80 billion, Argentina will be paying I think the article said around 10 billion and Singers group will see nearly 400% on the original investment?

    Not disputing, just curious.
    Singer's group bought mostly "floating rate" bonds. See my earlier post on Feb. 9 for more details.

    Tres3.

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