Posted on 08/17/2023 9:17:07 AM PDT by Kaiser8408a
On Monday, Argentina’s central bank raised #interestrates to 118% as Argentina 30-year mortgage is now at a record 82.2%.
There is a record 350 Argentine Pesos for each US Dollar. All courtesy of Argentina’ version of Bidenomics … top down direction of spending and regulation and an out of control Central Bank.
Don’t cry for Argentina. .They voted for endless Peronist polices (Justicialist Party).
Say, are Joe and Jill Biden the new Juan and Eva Peron?
(Excerpt) Read more at confoundedinterest.net ...
Can’t argue that point
FNC this morning had it as “Bidemonics” on the chyron.
Argentina now has a 2000 peso bank note.
https://qz.com/argentina-2000-peso-banknote-inflation-nazi-sympathizer-1850464422
Argentina has introduced a new peso banknote as it battles soaring levels of inflation.
A 2,000 peso-note entered circulation yesterday (May 22), with a value equivalent to only about $8.50 on Argentina’s official market, and $4 on the country’s thriving informal market. Previously, the largest bill in Argentina was the 1,000 peso-note.
You can get one of these on Ebay for 11 bucks.
Muy bueno Brandon.
A snapshot glimpse into our future.
Easy to solve. Just print more money.
That is the American way.
Si. Muchas gracias Presidente Biden.
Things could be changing soon.
Just standard Argentina economics. Argenina bankrupts periodically. It is a Juan and Evita Perón legacy.
I flew many flights to Buenos Aires in the 1990’s
The peso was pegged, 1-1 with the US$.
Argentine economics was stable, and a great place to visit, (then)
If they think that “Bidenomics,” is good, they are kidding themselves.
Brazil was having a horrible time with inflation, so bad that we did not take any of their money home because a week later it would be worth less. I think it was around 40% at times.
The “Crucero” was 70,000 for $1.00 dollar.
Then they wiped off the three zeros to make it 70 and in a few weeks the new “Real” was 2,100 for$1.00!
YUK
“Argentina’s central bank raised #interestrates to 118%”
Can I open a savings account there without changing my money into pesos?
Argentina bankrupts periodically
Biden catching up fast
Bonus round: Banks getting lower ratings by the day.
Biden needs his Captain Chaos uniform back from the cleaners his work isn’t finished yet.
I’ve always felt the Argentines will be the first to tire of the Socialist experiment. They’ve run the cycle tragically a few times now. It would be a new refuge for the classical libertarians of the world. Alas, it seems there is no end to the excuses for the left’s failures there (and everywhere else).
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