Argentina Defaults

Yahoo Finance ^ | 7/30/14 | Linette Lopez

[jimbo123]

Argentina has defaulted again.

Argentine Finance Minister Axel Kicillof is now addressing the world from Argentina's consulate in New York City.

He has delivered the news that Argentina is in default, having failed to satisfy the demands of a group of hedge fund creditors negotiating over $1.3 billion worth of debt owed to them for over a decade.

"The Argentine Republic has filed for a stay [on payment] with Judge Griesa... The Judge decided that if the vulture funds said there could be a stay there would be a stay," said Kicillof. "The vulture funds were not willing to grant the stay."

Without the stay and without payment, Argentina is in default.

[editor-surveyor]

>> “Venezuela also cannot pay it’s debt” <<

.
But they have oil to foreclose on.
.

[babygene]

“Venezuela also cannot pay it’s debt”

And you know what? We can’t either...

[blueplum]

so nationalizing the oil fields, take over of pension funds and utilities didn’t work out so well for them? whoda thunk?

[Jane Long]

Oh, so communism isn’t self-sustaining, Komrades 0 and Christina?

[Mariner]

"Vultures"

People who loan money and expect it to be paid back.

Don't forget to add that one to your urban dictionary.

[Mariner]

"Socialists can not be adequately be dealt with by democratic means".

Never have truer words been written.

[riri]

Once the IMF and bankster’s b*tch, always the IMF and bankster’s b*itch.

[Cold Heat]

“Save that headline. You’ll be able to use it again in a few years. It’s as reliable and predictable as the tides.”

Yup....’fraid so....

[Red in Blue PA]

Why was this removed from Breaking News? If this isn’t Breaking News, then what is?

[GeronL]

exactly

[OldNewYork]

Where’s Bono now to wave his hand and forgive debt?

Argentina, if you’re bothered by what you’re so cleverly, and officially, calling vulture funds, fear not. Just prepare for the replacement: no funds.

[dfwgator]

Where’s Bono now to wave his hand and forgive debt?

Probably in Holland going over his tax-free accounts with his banker.

[bkopto]

These two grinning idiots are a testimony to incompetent, disconnected, and gibsmedat voters.

That, in addition to vote fraud and vote buying.

It astonishes me that such incompetent, blinkered jackasses lead major western countries.

[MrBambaLaMamba]

<Socialism> It's only money, just print some more. </Socialism>

[Truth29]

" It's only money, just print some more. "

That sounds like it would be Obama's advice. It's all just pretty pieces of paper.

[Popman]

Funny...not a peep on most lib sites...

/ S

[Objective Scrutator]

The Videla regime had lots of promise to make Argentina into an economic powerhouse, especially with the brilliant Martinez de Hoz in charge of setting economic policy. One of the big reasons his regime failed was because some officers of the junta were opposed to privatizing much of the government functions, since these officers were nepotists and wanted to be guaranteed a cushy government job. Unfortunately, Videla and the other leaders either couldn't or didn't want to kill them.

The other problem was Bignone, who was stupid enough to get into a spat with the UK over the Falkland Islands and weaken the country over the resulting war. Bignone compromised with the socialists/unions too much in the aftermath of the war, letting the odious Alfonsin take control of the country. Argentina's been run by socialism ever since 1983.

It's very important for conservatives to read up on the history of Chile, Argentina, and several other Latin American countries dealing with socialism. If Admiral Barackbar or the Hildebeast give up their subtlety and push even harder for tyranny, we would do well to learn of their successes and failures.

[Straight Vermonter]

Marxists Bankers NEVER learn.

Fixed it for ya.

[Roman_War_Criminal]

omg they have some of the best too. They’re all socialist fools unfortunately!

[Hotlanta Mike]

The people of Argentina never learn...