Argentina's Economic Collapse

Discussion in 'Economy' started by GigiBowman, Oct 24, 2008.

  1. GigiBowman
    Offline

    GigiBowman Active Member

    Joined:
    Oct 21, 2008
    Messages:
    947
    Thanks Received:
    157
    Trophy Points:
    28
    Ratings:
    +157
  2. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,768
    Thanks Received:
    11,056
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,103
    Of course, economic incompetence has long been a hallmark of Argentina.

    A few days ago, the government seized private pensions to fund their spending because they are shut out of global capital markets. What a joke.

    Bloomberg.com: Worldwide
     
  3. sparky
    Offline

    sparky VIP Member

    Joined:
    Oct 19, 2008
    Messages:
    3,327
    Thanks Received:
    324
    Trophy Points:
    83
    Location:
    paradise
    Ratings:
    +341
    what goes around comes around.....
     
  4. BaronVonBigmeat
    Offline

    BaronVonBigmeat Senior Member

    Joined:
    Sep 20, 2005
    Messages:
    1,185
    Thanks Received:
    160
    Trophy Points:
    48
    Ratings:
    +160
    It's also worth noting that Argentina used to be quite wealthy, easily on par with countries in Europe and only a little bit below the US. Cuba too, for that matter. When people laugh and say "pffft, this is america, it can't happen here!" they are mistaken.
     
  5. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    It is already happening here, Baron.

    The DREPRESSION much like the revolution, will not be televized
     
  6. Skull Pilot
    Offline

    Skull Pilot Platinum Member

    Joined:
    Nov 17, 2007
    Messages:
    31,806
    Thanks Received:
    4,499
    Trophy Points:
    1,130
    Ratings:
    +10,099
    One has to wonder if our retirement funds are next
     
  7. editec
    Offline

    editec Mr. Forgot-it-All

    Joined:
    Jun 5, 2008
    Messages:
    41,427
    Thanks Received:
    5,598
    Trophy Points:
    48
    Location:
    Maine
    Ratings:
    +5,617
    Pension funds are in trouble right now, yes.

    Employers' pension funds really depend on those industries being going concerns to keep them solvent.

    Since so many American based industries are in serious trouble, it's a drop dead certainty that those pension funds are suspect.


    I fully expect the standard of living in this nation to continue its decline over the next decade no matter who is POTUS< and no matter which party controls congress.

    The Fundamentals are in the tank, and since we the people can't keep borrowing to keep the consumer driven economy going, it's damned sure that it's not going to get better UNLESS WE CHANGE THE RULES OF THE GAME.

    In other wrods, while there are major policy shifts we could take to fix this nation's economy, I doubt we'll do those things.

    the people on the top benefit too much personally for them to tgive up the advantages they've worked so hard (over the last 30 years) to grant themselves and their class.

    And sicne they have about 1/3 of the population convinced that their well being is tied to the superwealthy getting even super duper wealthier, I see virtually no change that this downward trend will change direction.

    I hope I am completely wrong, but I do not see any way this is going to change in one or two presidental election cycles.
     

Share This Page