The economic future of Argentina

[Aqualung]

Griesa's 15D deadline has been overruled by the appeals court. It's been pushed forward to some time in Feb I think.

[Member #2041]

Bond rating agencies get paid by those whom they rate so it is a bit of a scam to say the least. So if Fitch says they are "five steps from default" that probably translates as "one foot in the grave."

The don't ALWAYS get paid by those whom they rate. And in particular, they rate rate sovereign nations as a service to their other paying clients who might otherwise be selling bonds and other securities of those nations through to their clienteles.

If anything, they are overly solicitous in rating securities issued by sovereign nations simply because they are protecting themselves from revenge by those nations' regulatory agencies that could impact them operationally. As a result, a firm like Fitch or S&P might have to soft-pedal bad news about the USA or U. K. Or Germany, but I seriously doubt that they would have any reason to soft-pedal information about Argentina.

[Dickhead]

Bond rating agencies get paid by those whom they rate so it is a bit of a scam to say the least. So if Fitch says they are "five steps from default" that probably translates as "one foot in the grave." I am five steps from my refrigerator so I am five steps from a beer. How long will that take? I wonder if any default has gone through all of these fucking "steps" sequentially. Mostly I bet they have crashed and burned.

The issue with bond ratings is similar to the issue with audits and the issue with audits was at least partially addressed by Sarbanes-Oxley. They / we / you need similar reforms to these fucking rating agencies. If I say,"I will pay you a lot of money for you to say how relatively great I am, and this is a year-to-year deal," I am thinking you will say I am pretty great.

I agree with the Libs on a lot of the free market stuff but I don't see a free market solution to this conflict of interest and so I want to regulate it out of existence.

[HappyGoLucky]

Argentina Heading For Default.

http://www.businessweek.com/ap/2012-...de-is-probable

The Business Day- The credit rating agency Fitch Ratings on Tuesday downgraded Argentina, which is locked in a court battle in New York over its debt, and said the country would probably default.

Fitch cut its long-term rating for Argentina to CC from B, a downgrade of five notches, and cut its short-term rating to C from B. A rating of C is one step above default.

US judge Thomas Griesa of Manhattan federal court last week ordered Argentina to set aside US$1. 3 billion ($1. 6 billion) for certain investors in its bonds by December 15, even as Argentina pursues appeals.

Those investors don't want to go along with a debt restructuring that followed an Argentine default in 2002. If Argentina is forced to pay in full, other holders of debt totaling more than US$11b are expected to demand immediate payment as well.

Argentinian politicians, even those opposed to President Cristina Fernandez, have nearly unanimously criticized the judge's ruling as threatening the success of the debt relief that enabled Argentina to grow again.

Ratings by agencies like Fitch are used by investors to evaluate the safety of a country's debt. Lower ratings can make it more expensive for countries to borrow money on the bond market, exacerbating their financial problems.

Argentina is in a deepening recession and is grappling with social unrest. Besides the court case, Fitch cited a "tense and polarized political climate" and public dissatisfaction with high inflation, weak infrastructure and currency.

Fitch also said that Argentina's economy has slowed sharply this year.

Of the two other major rating agencies, Standard & Poor's has a rating of B- for Argentina, five steps above default, and Moody's rates it B3 negative, also five steps above default.

[CarneValistico]

From some members of the forum I recieved infos about what they are doing for life, so Argento and Exon, Redondo, and some others.

I think that those each in his buiz is doing the best to satisfy their clients and that means a modest way of comunicating. I remember well when I showed up in this forum, offering a lady 4k$ for staying with me 3 weeks. Exon and Jakson were one of those who gave me some friendly advice - without puting a burning cross in my yard;-)

What I do not understand is that adult guys (some even knowing each other well) are getting that furiouse in this board of others posts, anounced her in the forum. I mean, the main thing here is how to get a clean chicka, the results of that meeting, maybe even the price (I prefere the value what you got for that " gift ") and thats it.

And if someone is fine in buying a grape ranch in Medoza, fine! Who knows, maybe he is the only guy who secretely destilate biofuel out of his grapes and makes a huge bundle of cash, who knows? Who cares?

Looking forward to see you, and have a couple of beer together.

You are invited! Yours, C.

[Jackson]

You really should either limit him to his own thread or delete any post he makes that does not directly elaborate actual information / direct experiences about chicas and / or travel experiences (restaurants, apartments, transportation, etc)

If I did that, he'd never post anything.

Interesting thought.

[Exon123]

As I predicted below Argento, he'll be right back on top of me rationalizing his demented thinking, always having to be right, never wrong. As for CockSuckers, I'll quote "Justice Potter" slightly out of context.

"I can't define a CockSucker, But I know One when I see One"

Exon.

P. S. Now he'll be right back on top of me with more words of wisdom

Told you so, he always hast to have the last word.

Exon

[El Perro]

To add to Rockharders, I am not often surprised by the personal attacks on the forum, and have engaged in more than my share. But, I am frankly surprised with the ferociousness of the attacks on Monger#2041. I'm not interested in taking sides in the "debate", but all the guy did was offer his opinion on the Argentine economy. In addition, unlike alot of absolutely worthless posters such as Redondo, he had a number of informative posts about other topics. He never struck me as someone who was purposefully antagonizing others or spamming. Once he was attacked he didn't roll over which apparently infuriated his attackers who then stepped up the vitriol. It looks to me like the inflation issue and cost of living issue has really got under alot of mongers increasingly very thin skin. Hey, THAT'S LIFE! Take the good with the bad and quit fucking whining about it. If you don't like Argentina no more, move on. Otherwise pop a few Xanax's and leave off boring the fuck out everybody with bitching about how much it costs to fuck a whoare and hail a cab.

[Rock Harders]

Jackson-

Why do you put up with this sort of garbage from Exon in your forum? I like Exon personally, he is a nice guy in person and quite entertaining but all he does on your forum is post worthless opinions and criticize others as he sees fit, which discourages people who have actual information to contribute from contributing. You really should either limit him to his own thread or delete any post he makes that does not directly elaborate actual information / direct experiences about chicas and / or travel experiences (restaurants, apartments, transportation, etc. The most irritating thing is that Exon actually comes to Buenos Aires regularly and has these travel experiences and chica encounters yet he withholds reporting on it because of his open contempt for the members of this forum. Putting up with his bullshit is seriously stunting the growth of your forum!

Suerte,

Rock Harders

[Member #2041]

"I can't define a CockSucker, But I know One when I see One"

Don't be so modest, Exon123, you know one when you are one.

[Exon123]

I must be doing something right if I've got the two most notorious assholes on the forum, Exon123 and Argento all riled up about my posts.

In point of fact, Exon and Argento both originated the "snide demeaning comments" on the subjects at hand - of course, they are conveniently forgetful of this.

AND, for a second fact, I am well aware that it is not CURRENTLY a wise investment to purchase a winery at this particular moment in time - specifically due to the economic conditions at hand. I alluded to this in my prior post. What intelligent investors do is gather information about potential future investments, so that they are prepared to act quickly when the proper opportunity DOES present itself. Of course, neither Exon nor Argento would have a clue how thoughtful investors actually operate. Incidentally, there are a litany of extremely wealthy people in this world who happen to be frugal. It's because I DO respect the value of the assets that I have obtained that I don't squander them on things that have no value to me. I never said that the rest of you are wrong. What I said is that you, Exon, and Argento, are flaming assholes - and my apologies for repeating something so obvious to everyone here.

BTW, Exon, it's not necessary for you to project your cocksucking fantasies on the rest of us. We don't really care what you do in private.

As I predicted below Argento, he'll be right back on top of me rationalizing his demented thinking, always having to be right, never wrong. As for CockSuckers, I'll quote "Justice Potter" slightly out of context.

"I can't define a CockSucker, But I know One when I see One"

Exon.

P. S. Now he'll be right back on top of me with more words of wisdom

[Member #2041]

I must be doing something right if I've got the two most notorious assholes on the forum, Exon123 and Argento all riled up about my posts.

In point of fact, Exon and Argento both originated the "snide demeaning comments" on the subjects at hand - of course, they are conveniently forgetful of this.

AND, for a second fact, I am well aware that it is not CURRENTLY a wise investment to purchase a winery at this particular moment in time - specifically due to the economic conditions at hand. I alluded to this in my prior post. What intelligent investors do is gather information about potential future investments, so that they are prepared to act quickly when the proper opportunity DOES present itself. Of course, neither Exon nor Argento would have a clue how thoughtful investors actually operate. And as a matter of record, the Mendoza area is LOADED with major investments from big players in the California and European wine businesses, made over the past decade or so. There is currently a bit of a pause in this activity because of the economic conditions we've all been talking about, but the simple fact is, the majority of vineyard in Mendoza is controlled by the foreign interests you imply have been all over this concept and rejected it. Just another example of something I happen to know about Argentina and you, Exon, have obviously already either "forgotten", or simply never actually knew.

Incidentally, there are a litany of extremely wealthy people in this world who happen to be frugal. It's because I DO respect the value of the assets that I have obtained that I don't squander them on things that have no value to me. I never said that the rest of you are wrong. What I said is that you, Exon, and Argento, are flaming assholes - and my apologies for repeating something so obvious to everyone here.

BTW, Exon, it's not necessary for you to project your cocksucking fantasies on the rest of us. We don't really care what you do in private.

[Exon123]

Argento.

We're dealing with a "Psycho" here with Member #2041.

Below I posted a link which pretty much validated everything he'd said in a previous post from a creditable source. And what does he do, he posts a "Snide" demeaning comment, "I already posted that two days ago"

Again the guy's and authority on Argentina after spending 3 weeks in country, one of them out in the "Boonies" in Mendoza. The other 2 weeks in a Cheap apartment with no lap top or internet using only a cell phone which works any where in the world. In which he claims is orginal posting, not knowing that subject has been beat to death over the years on this forum.

Then claims he can save $10 dollars a day by doing so and in almost in the same breath eludes to the fact he's got "Deep Pockets". And is considering making a middle 6 figure investment in a "Grape Ranch" in Mendoza with hopes of someday making wine.

I frankly doubt he's ever seen "Middle 6 figures" in cash with all the tax's payed on it sitting in cash in his bank account in his life. And even if he does he sure as hell didn't earn it himself, he'd have more respect for it, But suppose he does have that knid of money. Only a "Fool" would invest that some of money in Argentina at this time, given the facts of whats going on in the country. He'd be much better off buying some destressed Condo's in Florida. Or any other investment in which he'd get a return over time. But a grape ranch in Argentina, there's just no way. Trust me the "Big Guy's" in the wine business have already looked at it and passed on the idea.

Number one he'd never get a return, ROI, on his money. And number two its doubtfull he'd ever get his money back given the illiquidity of Argentine real estate. Not even considering the Governments missmanagment of the economy, plus the corruption which run's threw out the entire Argentine society on all levels. The very mention of that type of investment shows that this guy is made of.

Argento, his guy is very defensive with his aggression in his posts, a Psycho. He's got to be right and the rest of us are wrong, CockSucker & MotherFuckers if you will. Now I submit theres something wrong with this type of thinking.

Finally, Member # 2041 will post on top of this more "Snide Demeaning" comments since the "Psycho" in him has the prove he's right and the rest of us knowing nothing about Mongering or Argentina itself.

Well I'll post this before he comments back, because he will. He's always got to have the last word, sorta like BadBoy13, some of us remember.

That I've forgotten more about Argentina than he knows, moreover, probably than he'll ever know. And I truly hope he's the "Big Shot Fool" he proports himself too be and buy's a "Grape Ranch" in Mendoza, where he'll have his head handed to him on a platter.

Exon

[Member #2041]

I should have added 'a big-noting 6 figure prickhead.' Sorry.

Argento

Argento, there's no need to call yourself a prickhead - everyone who posts here already is aware that you are. But in any case, thanks for another worthless, uninformative post of the type that you are known here for.

[InArgentina]

DH writes.

'Trade surplus (deficit) + budget surplus (deficit) = current account surplus.''

DH is wrong again!

A current account is absolutely separate from the government's budget.

The correct formula for a current account is.

Current Account = Balance of Trade + Net factor income from ABROAD +

Net unilateral transfers from ABROAD.

http://en.wikipedia.org/wiki/Current_account or anywhere else for that matter.

You write that.

'You'd see that this actually took place in my state'

A Current Account applies to nations not states.

DH - the only state you are is a state of pure ignorance. You have absolutely no knowledge of economics.

DH – don't involve Kangaroos in this.

DH - you continually boast about your fluency is Spanish - ad nauseum. The only reason you know Spanish is because you are regularly on your knees before your local Meth dealer!

I suggest that after you make the next visit - you put your teeth in - and go repay the subprime loan on your caravan (because the world need Americans you can actually repay their debts)