Posted on 08/13/2019 10:37:26 AM PDT by C19fan
Argentina’s currency collapsed on Monday and stocks and bonds crashed to a degree not seen in 18 years as voters flirted with a return to interventionist economics by snubbing President Mauricio Macri and his market-friendly approach in favor of the opposition in the country’s primary vote on Sunday.
The Argentine peso initially dropped 30.3 percent, to a record low of 65 per one United States dollar, after Alberto Fernández, the opposition candidate whose running mate is Cristina Fernández de Kirchner, the former president, dominated the primary by a 15.5 percentage point margin that was much wider than expected. The currency recovered some of its value later in the day, reacing 55 per dollar.
(Excerpt) Read more at nytimes.com ...
Look at the bright side...if you want to go to Patagonia your trip just got a lot cheaper.
Maybe the Pope should pray for Argentina...
Or better yet....go back there and make everything right....just like he has done in Rome.
It NEVER ENDS. Eventually the Leftists there will get tired of playing softball, and go full Stalin on their opposition.
...and don’t, for a moment, think it can’t happen here. All they need are the courts.
Who in the hell would lend these people money?
Once they had a taste of Peron it became ingrained in their culture and it is never going away.
That is the danger of electing just ONE Socialist President.
Before Peron, Argentina has a per capita income nearly as high as US.
My wife is Argentinian and her mother and sister still live there. She talked to her on Sunday and yesterday. Food prices skyrocketed overnight with the news of the election results. She’s been urging them to move to either Spain, where her mom is from, or Brazil.
We’ve been to Patagonia. What a wonderful place for outdoors activities. We stayed a week at the Singular...great place.
You know things are really bad when someone from Argentina contemplates moving to Brazil. A massive blow to their pride.
They live in a tall apartment building and they have had many people ringing their bell asking for food. She gave a little milk to a lady with nothing to give her baby.
Argentina just can’t give up their love affair with Peronism.
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