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What impact will Argentina defaulting on all its debts, public and private, have on the world economy?
Are they really connected in such a way where it would cause a rippling domino effect? They seem to be so isolated, in their own little Juan Peron-ish way, with no major Fortune 500 well-known companies to speak of, that perhaps there will be little, if any, impact..
They have their own currency, so it is not like Greece/Portugal and Euro connections/implications...I'm not even sure how connected they are economically to the rest of S America, or how vital their industries are....outside of cattle/meat on the Pampas, oil/natural gas, and such, what DO they really have to trade with the larger world anyway? And too late to become a refuge for ex-nazis, as I believe most of them have passed.....in all seriousness, what will happen now? Nothing much?
I can tell you one thing....they are finished......not just because of the loss to Germany in the World Cup(though that did seem to be a harbinger of sorts)......
I can't see any entity investing in Arg's debt, notes, currency, stock, or companies for many years....they have now unilaterally cut themselves off from the world's currency...
Now they will ***** for US dollars like Cuba.....Look for George Washingtons visage to be the currency of choice now, as Arg's inflation should jack up hugely, for a spell anyway...
Is it too late for the World Bank or IMF, or the EU, or the US, to bail these guys, who seem to always be hanging on a precipice, anymore?
Sadly, I think they are finished......thank God there are still plenty of Argentinian steakhouses worldwide to sell to....prob the only way they can get hard currency now, other than starting prostitution rings worldwide.......
wow...again, so sad! Eva is spinning around in her grave now, baffled as we all are at what a once prosperous country has come to...
its funny how they blame these "vultures" that wont accept their deals to pay them significantly less than what is owed. if those companies are willing to take the risk of a bankruptcy, then why should they accept a deal paying them less than what's owed?
..would it have been different if Argentina won the World Cup final?
I really think it would have...they would have had too much national pride going on to default...laugh, but I think
they would not have...after they lost to Germany, I think they just stopped giving a D@mn...
My opinion anyway.....if a world war can start with an out of work serbs gunshot, surely a national default can start with a World Cup loss/humiliation...
ugh, i have some property (small hotels) my dad left me when he passed away in buenos aires that i know some lady is "managing", i havent seen a penny in the passed 20 years from it. i wonder if they are even worth anything now to sell. it seems i physically have to go there to get anything done
Canadian...with the country defaulting, perhaps it is a nightmare to do business there....or it isnt worth much.....hard to say....I guess Penga will explain later.....I bet, with the country defaulting, its worthless now anyway..
Sounds like, if they were up and running the last 20 years, they stole a crapload of cash.....sad.....
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