{"id":10538,"date":"2015-07-30T06:21:30","date_gmt":"2015-07-30T11:21:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=10538"},"modified":"2015-07-30T06:21:30","modified_gmt":"2015-07-30T11:21:30","slug":"the-south-american-financial-crisis-of-2015","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=10538","title":{"rendered":"The South American Financial Crisis Of 2015"},"content":{"rendered":"<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-south-american-financial-crisis-of-2015\" target=\"_blank\">The South American Financial Crisis Of 2015<\/a><\/h3>\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-south-american-financial-crisis-of-2015\/south-america-public-domain\" rel=\"attachment wp-att-9046\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-9046\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/07\/South-America-Public-Domain-460x460.jpg\" alt=\"South America - Public Domain\" width=\"460\" height=\"460\" \/><\/a>Most nations in South America are either already experiencing an economic recession or are right on the verge of one.\u00a0 In general, South American economies are very heavily dependent on exports, and right now they are being absolutely shredded by the twin blades of\u00a0<a title=\"a commodity price collapse\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/commodities-collapsed-just-before-the-last-stock-market-crash-so-guess-what-is-happening-right-now\">a commodity price collapse<\/a>\u00a0and a skyrocketing U.S. dollar.\u00a0 During the boom times in South America, governments and businesses loaded up on tremendous amounts of debt.\u00a0 Since much of that debt was denominated in U.S. dollars, South American borrowers are now finding that it takes much more of their own local currencies to service and pay back those debts.\u00a0 At the same time, there is much less demand for commodities being produced by South American nations in the international marketplace.\u00a0 As a result, South America is heading into a full-blown financial crisis which will cause years of pain for the entire continent.<\/p>\n<p>If you know your financial history, then you know that we have seen this exact same scenario play out before in various parts of the world.\u00a0 The following comes from a recent\u00a0<a title=\"CNN article\" href=\"http:\/\/money.cnn.com\/2015\/07\/28\/investing\/strong-dollar-hurts-emerging-markets\/index.html?iid=hp-toplead-dom\" target=\"_blank\">CNN article<\/a>\u2026<\/p>\n<blockquote><p>The dollar\u2019s gains should make history nerds shake in their boots.\u00a0<strong>Its rally in the early 1980s helped trigger Latin America\u2019s debt crisis<\/strong>. Fifteen years later,\u00a0<strong>the greenback surged quickly again, causing Southeast Asian economies, such as Thailand, to collapse<\/strong>\u00a0after a run on the banks ensued.<\/p><\/blockquote>\n<p>In particular, what is going on right now is so similar to what took place back in the early 1980s.\u00a0 At that time, Latin American governments were swimming in debt, the U.S. dollar was surging and commodity prices were falling.\u00a0 The conditions were perfect for a debt crisis in Latin America,\u00a0<a title=\"and that is precisely what happened\" href=\"https:\/\/en.wikipedia.org\/wiki\/Latin_American_debt_crisis\" target=\"_blank\">and that is precisely what happened<\/a>\u2026<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South American Financial Crisis Of 2015 Most nations in South America are either already experiencing an economic recession or are right on the verge of one.\u00a0 In general, South American economies are very heavily dependent on exports, and right now they are being absolutely shredded by the twin blades of\u00a0a commodity price collapse\u00a0and a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[2251,7661,90,7662,151,1851,195,6431,4375,5983,6061,312,4901,7663,1264,7664,7665,7666,7667,7083,851],"class_list":["post-10538","post","type-post","status-publish","format-standard","hentry","category-economics","tag-argentina","tag-borrowers","tag-brazil","tag-businesses","tag-commodities","tag-commodity-price-collapse","tag-debt","tag-economic","tag-economic-recession","tag-economiccollapseblog","tag-financial","tag-financial-crisis","tag-michael-snyder","tag-pay-back-debts","tag-recession","tag-south-america","tag-south-american","tag-south-american-economies","tag-tremendous-amounts-of-debt","tag-u-s-dollar","tag-venezuela"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10538"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10538\/revisions"}],"predecessor-version":[{"id":10539,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/10538\/revisions\/10539"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10538"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}