Argentine Economy

[Canardly]

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".

http://www.buenosairesherald.com/art...-think-he-will

[Spirit Rider]

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

http://finance.yahoo.com/news/argent...7--sector.html

Tres3.

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.

[Tres3]

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

http://finance.yahoo.com/news/argent...7--sector.html

Tres3.

[Tres3]

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.

http://finance.yahoo.com/news/u-cour...6--sector.html

Tres3.

[Dickhead]

http://www.bloomberg.com/news/2014-0...bank-says.html - 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.

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.

[Retire N Trave]

http://www.bloomberg.com/news/2014-0...bank-says.html - 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.

[Jackson]

What will CFK and her minions think of next?

http://www.bloomberg.com/news/2014-0...tml?cmpid=yhoo

Tres3.

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.

[Riina]

What will CFK and her minions think of next?

http://www.bloomberg.com/news/2014-0...tml?cmpid=yhoo

Tres3.

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

[Tres3]

What will CFK and her minions think of next?

http://www.bloomberg.com/news/2014-0...tml?cmpid=yhoo

Tres3.

[Yujin]

I had a good laugh reading this article about CKF's plan to build the tallest building in Latin America. This confirmed my suspicion that she's lost touch with reality?

http://abcnews.go.com/International/...lding-25415173

Argentina Plans Latin America's Tallest Building.

Argentine government says 'patriotic' tower will be Latin America's tallest building.

The Associated Press.

BUENOS AIRES, Argentina.

Argentina says it will build the tallest building in Latin America.

President Cristina Fernandez says the 1,165-foot (355-meter) tower is expected to cost around $300 million and will serve as a center for the entertainment industry, including television and movies studios "Hollywood" style.

Architectural plans released Wednesday depict it as being in the shape of Argentina's map while an outdoor stadium for 15,000 people at ground level is shaped like the map of the Falkland Islands. The British territory in the South Atlantic is claimed by Argentina, which calls it Las Malvinas.

Fernandez says the building, which will be lit in the sky-blue and white colors of the national flag, is to be constructed on state lands with private funding. It will be located on Demarchi island in southern Buenos Aires overlooking the River Plate and is planned to rise higher than the 984-foot (300-meter) Costanera Center tower nearing completion in Santiago, Chile.

The winning design for the Buenos Aires project was announced on Fernandez's Facebook page Wednesday. It comes as her government struggles with a recession, a shortage of dollars and one of the world's highest inflation rates.

The half-pipe ramp-like design of the building produced hundreds of comments on social media, including by professional skateboarder Tony Hawk. "Just after we left Argentina, they approve this skyscraper design (1200 feet tall). Coincidence?" Hawk said on his Twitter account.

Others took to social media to poke fun at the plan by posting images of King Kong on top of the building or a line graph resembling the structure that shows Argentina's spiraling inflation.

The building is expected to be completed within five years. Fernandez ends her presidential term in December 2015.

[Gandolf50]

http://www.bloomberg.com/news/2014-0...t-comment.html

Argentina is following right behind. Cristina is using the same game plan but without Venezuela's huge oil reserves.

[Retire N Trave]

http://www.bloomberg.com/news/2014-0...t-comment.html

[Tres3]

It will be interesting to see how many bonds are actually converted.

http://finance.yahoo.com/news/argent...095208938.html

Tres3.

[Gandolf50]

I would NEVER advise anyone to hold Argentine sovereign debt (regardless of jurisdiction) OR any other assets within the borders of Argentina. The cancer is so profoundly deep in all things Argentina that it's not worth the risk or trouble. That being said, after the RUFO clause expires in January I believe the government will be obliged to negotiate a settlement with the so-called vultures because there simply will not be any money to pay for essential imports (energy, capital goods, medical supplies). I fully expect a particularly rotten summer as there is no way the government will be able to keep the electricity on in the CABA.

Electricity is a huge problem now a days. Its normal to have electric cut every other day here while they try to patch the system up. I am waiting for two years for electric to a new house. On a street that HAD electric ten years ago. Edenor slowly cannibalized all the wire, transformers and even the poles until there was nothing left because at that time no one lived on that block. They finally put new poles in three months ago but now they are waiting for cable! All this because they have not been allowed to raise their rates for over ten years and they can't even maintain what they do have!

[ElAlamoPalermo]

I would NEVER advise anyone to hold Argentine sovereign debt (regardless of jurisdiction) OR any other assets within the borders of Argentina. The cancer is so profoundly deep in all things Argentina that it's not worth the risk or trouble. That being said, after the RUFO clause expires in January I believe the government will be obliged to negotiate a settlement with the so-called vultures because there simply will not be any money to pay for essential imports (energy, capital goods, medical supplies). I fully expect a particularly rotten summer as there is no way the government will be able to keep the electricity on in the CABA.