Argentina Economy, Election, and possible default?

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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 3:07 pm

macri is suppose to speak at 4:30 pm, and because it is after the market close, I suspect he has something big to announce. probably something no one is going to like.
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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 5:42 pm

well macri had some nice things to say about chile vs. Argentina in his press conference:

https://www.df.cl/noticias/internaciona ... 61643.html

basically, chile no es argentina. :roll:
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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 5:43 pm

in other words, elections dont freak out the markets in chile like they do in Argentina.
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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 6:05 pm

now that i think about it, that your current president is slamming your country by comparing it to the neighbor, is pretty sad.
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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 7:18 pm

inter bank lending rate of 86%. I don't even know what the hell that means; but, it can not be good.

https://finance.yahoo.com/amphtml/news/ ... 56305.html
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Re: Argentina Economy, Election, and possible default?

Post by admin » Mon Aug 12, 2019 7:22 pm

I just had a conversation with my brother about shopping for our ski resort; or, at least a nice cabin on the slopes. I never advocate for investment in Argentina, but dam hard to resist the thought.

At least if you are going to be ripped off, it should be cheap. 🤪
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Re: Argentina Economy, Election, and possible default?

Post by tiagoabner » Mon Aug 12, 2019 8:32 pm

Man, Argentinean prices are cheap as heck right now. I was thinking about spending some vacation time there in the next month and prices are way cheaper than in Chile. I guess their exchange rate tanking is good for people earning in dollar, or at least to those who don't live there and who aren't affected too much by their inflation rates.

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Re: Argentina Economy, Election, and possible default?

Post by admin » Tue Aug 13, 2019 4:40 am

That marked the second-biggest one-day rout on any of the 94 stock exchanges tracked by Bloomberg going back to 1950. Sri Lanka’s bourse tumbled more than 60% in June 1989 as the nation was engulfed in a civil war.
well that is a rather dubious distinction.

the kicker is, of the top five biggest one day drops, Argentina has third place too, for the 2002 crash.


https://www.bloomberg.com/news/articles ... nd=premium
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Re: Argentina Economy, Election, and possible default?

Post by admin » Tue Aug 13, 2019 4:41 am

tiagoabner wrote:
Mon Aug 12, 2019 8:32 pm
Man, Argentinean prices are cheap as heck right now. I was thinking about spending some vacation time there in the next month and prices are way cheaper than in Chile. I guess their exchange rate tanking is good for people earning in dollar, or at least to those who don't live there and who aren't affected too much by their inflation rates.
yea, i would stick to buying wine, steak, and tango shows.

defiantly don't buy the century bond (60 cents on the dollar as of yesterday's close).
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Re: Argentina Economy, Election, and possible default?

Post by FrankPintor » Tue Aug 13, 2019 10:05 am

admin wrote:
Tue Aug 13, 2019 4:41 am
tiagoabner wrote:
Mon Aug 12, 2019 8:32 pm
Man, Argentinean prices are cheap as heck right now. I was thinking about spending some vacation time there in the next month and prices are way cheaper than in Chile. I guess their exchange rate tanking is good for people earning in dollar, or at least to those who don't live there and who aren't affected too much by their inflation rates.
yea, i would stick to buying wine, steak, and tango shows.

defiantly don't buy the century bond (60 cents on the dollar as of yesterday's close).
I'm hoping to get to Bariloche before the end of the ski season, we were there last year and it's very nice, cheap compared to almost any other ski resort, friendly, and food and wine are great. My recommendation for eating out there would be Alto El Fuego, I don't know what the current menu prices are but it's really worth stopping there.

On the other hand, property doesn't seem to be cheap here, it's all priced in USD, and price levels in Buenos Aires are at European levels, well over $100k for a studio ("monoambiente") almost anywhere in the Greater Buenos Aires area. It feels strange to be in a recession while a construction boom is going on, from my apartment I can see (and hear) 4 building sites where apartment buildings are going up. I have no idea who buys these apartments :?
Caracas es Caracas. Lo demás es monte y culebra!

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Re: Argentina Economy, Election, and possible default?

Post by admin » Tue Aug 13, 2019 11:10 am

i liked san martin more than bariloche.

seems no one is really sure what the exchange rate is the peso has been collapsing so fast.

https://www.df.cl/noticias/mercados/ban ... 82119.html
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Re: Argentina Economy, Election, and possible default?

Post by seawolf180 » Tue Aug 13, 2019 2:12 pm

Hi all.
Been a while. Hope you all are well.

I’m heading over to Mendoza with my family in a couple weeks.
Haven’t been over there (Argentina) in a long long time.
Wondering whether I should just take my US credit cards, or whether it’s worth hassling with buying dollars here first, and exchanging them in Mendoza.
Would rather bus straight to the airport from here.
Don’t want to go into Stgo just to exchange currency, don’t want to travel with a bunch of cash.

Any recommendations for mid priced lodging, and picadas for eating, wine tours, etc would be welcomed.
Don't Tread On Me Either.

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