Argentine Economy

[El Queso]

It's too bad Zelaya's plane was refused permission to land. It would have been real interesting to see what Micheletti would have done with Cristina, as he had previously threatened consequences of some sort for whoever accompanied Zelaya if he tried to return.

The funny thing is, it doesn't seem to matter what Zelaya wants in relation to buddying up to Chavez, it doesn't appear that it's going to happen even if he could somehow change the constitution. Hell, he can't even get back into his country after being exiled.

As far Honduras itself, I'm not sure which side of this to be on. I don't know the Honduras constitution, and whether what their supreme court did was illegal or not, but it was supposedly the civilian branch of the government that booted Zelaya when the supreme court asked the military to do it. And a congressman (Micheletti) was named interim president by civilian authority. Was it legal? Does it matter in this case?

Aside from Zelaya actually being removed from the country, it was a pretty seamless transfer of power, which is good for a former military dictatorship, and I don't think there's any reason to believe they won't hold the elections in November that they were going to have anyway, another seamless transfer of power.

I don't know that the US and the world should be on Zelaya's side in this. It's obvious he was trying to pull a Chavez, and as Sidney notes in his mention of the poll of citizens, the people DO NOT want that at all. I can understand us maybe saying they should have arrested Zelaya and tried him, if he really was guilty of all that drug dealing and such. But that gives even more reason for the world to recognize Micheletti as the rightful interim president.

Of course, Cristina wants to be seen as a power somewhere, since she's obviously no longer much of a power in her own country. And I'm sure she's earning browney points with her buddy Chavez for accomanying Zelaya in attempting to land. Chavez doesn't have the balls to do it, and anyway probably is terrified to leave his country in case someone should rise and up and keep HIM from landing on return. And on top of that, none of them actually thought they would land, it's just show-boating and claim-making.

[Damman]

Some interesting things going on with Argentina's oil industry: China's CNPC, Cnooc Group Said to Seek Stake in Repsol's YPF.

http://www.bloomberg.com/apps/news?p...d=aZq2xVbh.Gt4

Analysts seem to be at a loss for why CNPC would be interested in doing business in Argentina and purchasing Repsol YPF: earnings cap of $42 per barrel of oil exported, with any revenue above that amount collected as taxes. Ever wonder why no one wishes to invest in Argentina?

http://industry.bnet.com/energy/1000...argentine-arm/

YPF (Argentine National Oil Company) went private a few years back and the deal was brokered by Nestor Kirchner when he was Governor. Plus, a major holder of YPF is Enrique Eskenazi, personal friend of Nestor Kirchner and is known as the banker for Kirchner. Something is amiss, China buys an oil company in a country that limits exports? Cannot help but think the Kirchners got their fingers in this deal and are about to join the unemployed politicians in Switzerland.

[Joe Hernandez]

There has been high inflation since 2006.

[El Queso]

The 30s are also known in the north american history for the emergence of the crime industry.

Not all over the country - in the northeast predominantly. And many of those grew out of prohibition and other illegal activies, starting in the 20s. The Depression helped it along, sure. Wasn't the reason for it. And look at Vegas in the mid-40s, particularly in the 60s and 70s - well after the Depression. Or mob violence in southern Florida in the 60s and 70s after Castro took over Cuba. Again not depression-related, nor desparate citizens looking for a way out.

In southern states, kidnapping is developping fast. Even in repressive environment (record inprisonment rate in western democracies) it s easily understandable that the threat of misery can lead desperate armed individuals to criminal acts. Since they don't have anything left to loose.

Well, in the South adjacent to Mexico, yes. And it has nothing to do with desparate times, it has a lot to do with the drug war that is going on and has been going on sometime. And it's being done by drug cartels, not desparate citizens trying to figure out a way to get money.

In Japan for example, known for the discipline of its population and respect for authority, ruined pensioneers are turning hoolingans. Nothing comparable to gang criminality, but a simple expression of despair due to becoming outcasts, undesired in the society they contributed to build. Imagine if weapons were easily accessible.

I don't know about this - I haven't seen anything on it. However, I'd say maybe that's more a sample of what happens when a society is too restrictive and in bad times doesn't have a better outlet. I really couldn't imagine old pensioners in the US roaming the streets like hooligans (really can't imagine it in Japan either)

[MataHari]

And look at the Great Depression in the US. People weren't exactly going nuts in and killing each other in the streets. It went on a helluva lot longer than two years.

The 30s are also known in the north american history for the emergence of the crime industry.

In southern states, kidnapping is developping fast. Even in repressive environment (record inprisonment rate in western democracies) it s easily understandable that the threat of misery can lead desperate armed individuals to criminal acts. Since they don't have anything left to loose.

In Japan for example, known for the discipline of its population and respect for authority, ruined pensioneers are turning hoolingans. Nothing comparable to gang criminality, but a simple expression of despair due to becoming outcasts, undesired in the society they contributed to build. Imagine if weapons were easily accessible.

[Joe Hernandez]

This is not that bad, tourism is going down but Argentina is probally doing better then most of the rest of the world.

[El Queso]

Matahari, I don't know where you're from. I want to say that most people who are not from the US can't understand why we support the right to bear arms. It may seem like chaos or anarchy.

But the foundation for that system is supposed to be, along with self-defense, to give the government something to think about.

"The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants." - Thomas Jefferson.

The problem is that the US government has gotten too big for an armed insurection by its populace, most likely. However, I wouldn't give up that right for anything.

And look at the Great Depression in the US. People weren't exactly going nuts in and killing each other in the streets. It went on a helluva lot longer than two years.

[Joe Hernandez]

Isn't that the reality in most of the rust belt?

[MataHari]

Matahari, with all due respect, that is by far the dumbest post I have read herein.

This is inevitable, we are all the "dumb" of somebody. Valid arguments might help me understand your point of view tho.

[Wild Walleye]

Indeed, long term unemployment is not organised there to avoid social unrest. 2 years with an unemployment rate over 10% would lead to serious anger, in a country where holding weapons is a constitutional right.

Matahari, with all due respect, that is by far the dumbest post I have read herein.

[MataHari]

But the US would not invent those figures, atleast they have not done this untill now and I doubt they ever will.

I do think that the USA does have other things to worry about then high inflation in 2011.

Indeed, long term unemployment is not organised there to avoid social unrest. 2 years with an unemployment rate over 10% would lead to serious anger, in a country where holding weapons is a constitutional right.

[Joe Hernandez]

Very true, but just wait one year or two and you ll see inflation kick in in the US at double digits. This is the only way to balance their accounts and pay back their creditors with funny money. Long term interest rates are already rising even tho the economy is still in recession.

But the US would not invent those figures, atleast they have not done this untill now and I doubt they ever will.

I do think that the USA does have other things to worry about then high inflation in 2011.

[MataHari]

After I read denial of high inflation (which is not so high anymore) I found out you were talking about Argentina and not of the US.

Very true, but just wait one year or two and you ll see inflation kick in in the US at double digits. This is the only way to balance their accounts and pay back their creditors with funny money. Long term interest rates are already rising even tho the economy is still in recession.

[Joe Hernandez]

''Nationalizations, lack of credible government, dubious capital repatriation scheme, high level of debt and slowing growth, lack of consumer demand and private investment, denial of high inflation, and corruption.'' ---BA Herald

After I read denial of high inflation (which is not so high anymore) I found out you were talking about Argentina and not of the US.

[Wild Walleye]

Next to Grouper, Walleye is my favorite fish.

Great job.

Like this?