tag:blogger.com,1999:blog-8939666320943790100.post4162902079749782487..comments2024-02-11T01:14:21.904-08:00Comments on SURVIVING IN ARGENTINA: Credit and Financial Situation in ArgentinaFerFALhttp://www.blogger.com/profile/07578136334334588454noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-8939666320943790100.post-7234978399809264642009-06-24T02:15:59.758-07:002009-06-24T02:15:59.758-07:00Out of topic, but if you read french, a small arti...Out of topic, but if you read french, a small article in Le Monde (most prestigious french newspaper) is about La Salada.<br /><br />http://www.lemonde.fr/ameriques/article/2009/06/23/la-salada-marche-des-pauvres-de-buenos-aires-attire-desormais-la-classe-moyenne_1210280_3222.html<br /><br />Very soft as usual in Le Monde, it just says that illegal markets become popular among middle class in Argentina because of the crisis.<br /><br />Hmmm, not long before it comes in 1st-world countries, with very heavy bureaucrataxation (who said France?)Pompompomnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-74961212090630178582009-06-23T07:47:35.558-07:002009-06-23T07:47:35.558-07:00Ferfal, what about the aspect of question no. 1 re...Ferfal, what about the aspect of question no. 1 relating to things like paying the mortgage during 2002? How did that work? I.e., could somebody write a check for the mortgage in excess of the cash withdrawal limits?<br /><br />Thanks.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8939666320943790100.post-64249494236935990092009-06-21T09:13:36.143-07:002009-06-21T09:13:36.143-07:00I have been reading your blog for weeks now. I kn...I have been reading your blog for weeks now. I know my country (USA) is in danger of soon becoming a third world country from our outlandish spending and wasteful practices of both our citizens and our government. There are a couple of differences in my country and Argentina that I would like to hear from you about. I think it could change the way things turn out here. I don't know if it would be for the better or for the worse but I don't feel it will be the same.<br /><br />First, in Argentina, there was massive debt created by both the government and the people as your economy began its' stronger growth period. This debt was issued in Euros or American dollars instead of the Peso. From what I understand, many people mortgaged their homes and banked in these currency. Here, we borrowed and bank in our own currency since we are fortunate enough to have convinced the rest of the world that our currency is the one that they can secure assets with worldwide. In almost any country, prior to this debacle, people would accept US currency as if it were even more valuable than their own. Almost as if the US dollar replaced gold as a standard to base other forms of money on. (A stretch I know, but hopefully you get my point)<br /><br />Second, there were many government businesses Argentina had that the government was able to privatize to generate revenue. I realize the corrupt government stole most of the money received but they were there to sell nonetheless. My government has no such assets. The airlines, water companies, electrical companies, oil companies, railroads, etc. are already private corporations and most are already heavily subsidized by the government. The government still controls the lower education schools (prior to college), the military, the police, and, strangely enough to me, the mail delivery system, and the libraries. What does my government have that it could sell to use to repay debt? I think in place of selling assets, my government will just create higher taxes, both directly to the citizens and indirectly through taxing imports and purchases.<br /><br />Third and finally, I think the people in Argentina were less greedy and selfish even during the growth period than they are here in the United States. I have never been to Argentina but from the things I have read and heard, it seems that people have/had a higher respect for family and experience. Here it has become a game of kill or be killed (figuratively speaking). It is common to hear of children suing their parents in court, mothers killing their children so she could run away with a lover, fathers killing the entire family and then commit suicide. This has extended from the cruel society where it is applauded to frame a co worker so he is fired, steal from the rich, etc. We have TV shows that exploit spouses that cheat on each other and people that try to humiliate each other for the watchers' entertainment. It seems like we are the Romans sending the Christians out to be eaten by the lions!Anonymousnoreply@blogger.com