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Argentina Halts Soy Exports As Food Protectionism Soars
Argentina Halts Soy Exports As Food Protectionism Soars Russia’s invasion of Ukraine disrupted the global food supply chain as the prospect for dwindling stockpiles catapulted food prices to record highs. Governments worldwide are beginning to enforce protectionist measures to safeguard domestic food supplies. According to a memo signed by Javier Preciado Patino, the secretary for agriculture markets, Argentina made moves […]
Unwelcome Inflation Heats Up in Mexico, Brazil, and as Always in Argentina
Unwelcome Inflation Heats Up in Mexico, Brazil, and as Always in Argentina Brazil’s central bank struck back with shock-and-awe rate hike. Mexico’s central bank faces tough spot after big hit to economy. Argentina’s inflation exceeds 42%. Around the world, there has been massive fiscal and monetary stimulus, an unprecedented growth in government-guaranteed lending, an explosion […]
Argentina Imposes Currency Controls
Argentina Imposes Currency Controls Late on Friday, when we noted that according to Argentina’s next president, Alberto Fernandez, the country’s upcoming bond default, its 9th since declaring Independence, was the IMF’s fault as much as that of outgoing president Mauricio Macri, we pointed out that Buenos Aires has a more pressing problem: running out of money. Specifically, we […]
Argentina Proposes IMF-Humiliating ‘Debt Re-Profile’ As It Soft-Defaults For 9th Time Since Independence
Argentina Proposes IMF-Humiliating ‘Debt Re-Profile’ As It Soft-Defaults For 9th Time Since Independence Less than a week after we suggested The IMF is in for humiliation over the collapse of Argentina – just months after its unprecedented $56 billion liquidity crisis bailout – it appears the South American nation is set to default for the ninth time since […]
Blain’s Morning Porridge – Aug 13 – Argentina, Legarde and Europe
Blain’s Morning Porridge – Aug 13 – Argentina, Legarde and Europe “I’m going down to Yasgur’s farm, gonna join me a rock and roll band.…” Global Credibility Under Pressure – We’ve been Tangoed! This morning’s headlines are screaming how Argentina and President Mauricio Macri have precipitated yet another crisis upon the stressed geopolitical battlefront… Relax. […]
The Lesson Of Argentina: You Can’t Stabilize A Bankrupt Economy
The Lesson Of Argentina: You Can’t Stabilize A Bankrupt Economy So the U.S. puts Republicans (the party of small government) in charge, and gets… trillion dollar deficits as far as the eye can see AND a revival of socialism among Democrats. Scary as this may seem, the real (and even scarier) lesson is that it’s […]
Will The ‘Next Permian’ Ever Be Developed?
Will The ‘Next Permian’ Ever Be Developed? The Vaca Muerta Shale Basin in Argentina is the only unconventional play outside of North America where activity has already made the transition from exploration to full-scale development. The potential prize is huge – geographically, the Vaca Muerta Shale is three times the size of the highly prolific […]
The Stock Market Just Crashed In Italy, And Argentina Has Panic-Raised Interest Rates To 65 Percent
The Stock Market Just Crashed In Italy, And Argentina Has Panic-Raised Interest Rates To 65 Percent In the 9th largest economy in the world, the financial markets are crashing, and in the 21st largest economy in the world the central bank just raised interest rates to 65 percent to support a currency that is completely […]
Argentina Hikes Rates To 65% As Peso Plunges To New Record Low
Argentina Hikes Rates To 65% As Peso Plunges To New Record Low It appears the market is willing to test BCRA’s mettle as it pukes pesos down to a new record low against the greenback and pushes towards the bottom of its new “no intervention” band. The new record low is now 41.54/USD… While not […]
Argentina Gets Record $57 Billion As IMF Boosts Bailout, Creates “No Intervention” Zone For The Peso
Argentina Gets Record $57 Billion As IMF Boosts Bailout, Creates “No Intervention” Zone For The Peso Just a few months after the IMF announced in June what was a record-setting $50 billion, 36-month bailout agreement with Argentina, the International Monetary Fund said it would expand the credit line to $57 billion in an attempt to […]
Trump Admin Accelerates Push to Export Fracking to Argentina
Trump Admin Accelerates Push to Export Fracking to Argentina In June, U.S. Secretary of Energy Rick Perry traveled to Bariloche, Argentina, for a G20 Summit where he expressed his desire to help Argentina become more like Texas, his home state. “The technology that has allowed for the shale gas revolution in America, we want to make […]
Good Times…
Good Times… My son wanted to know why it is that Venezuela (a topic that gets discussed around the dinner table at home) chose such painfully, obviously asinine policies. After much thought I explained it thus. Hard times create strong men. Strong men create good times. Good times create weak men. Weak men create hard […]
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes
Major Currencies All Over The World Are In “Complete Meltdown” As The $63 Trillion EM Debt Bubble Implodes The wait for the next global financial crisis is over. Major currencies all over the planet are in a “death spiral”, many global stock markets are crashing, and economic activity is beginning to decline at a stunning […]
Don’t Cry for Me Argentina – It’s a Global Debt Crisis
Don’t Cry for Me Argentina – It’s a Global Debt Crisis QUESTION: Mr. Armstrong; Our government here in Argentina has told us we should expect more poverty and there is no hope for the future. Socrates has been amazing on its forecasts on our currency. There are enough of us down here who would sincerely […]
