Argentina Must Suffer! (page 2)

DaCheech

Botch, look at what happened last year to the rating outfit that lowered the US's rating???

They were put on a presidential witch hunt

Interesting how billions were given to the financial sector, and that is cool. Don't want those fat cats to lose any of their perks because they screwed up. But, when the livelyhoods of millions of average joes are at stake, they should not be helped.

S

problemaddict

Im with Botch on this one. I don't think the US will end up here, but Argentina is a place I have spent some time and invested. I wish I would have done so in 2001 when you could buy a flat in downtow Buenos Aires for 10K! Good Lord!

But they consistantly have not been able to get their financial house in order. This despite the fact they do not need or wish to import very much, they have large foreign invesment in textiles and produce, and that they are next to Brazil the best economy in South America. Tourists, ex-pats and many others all consider Argentina a dream retirement.

I love it there. I think the countries pride is its downfall. They think their crap doesn't stink (hard not to be cocky with such a freaking beautiful country), and that creates a culture that doesn't think, but knows.

Now THAT sounds like where the US can end up. The right choice or compromise, usually comes with a teaspoon of humility.

sizemik

I think the countries [Argentina] pride is its downfall. They think their crap doesn't stink (hard not to be cocky with such a freaking beautiful country), and that creates a culture that doesn't think, but knows.

Now THAT sounds like where the US can end up. . . . problemaddict

You're kidding right?

Either that or you have no idea what's coming.

problemaddict

Armagedon? No but really.

I never know whats going to happen in the future, but I do not believe that the USA will have an Argentinian/Greek/Zimbabwe style crash of its currency economy, or anything else. I expect some rogue going ahead.

My line of work probably puts me on the front lines of some of this stuff a little more than most. Nothing with the government, but at least workign in a frontline of a bellweather of the economy. Sorry I'm so vague. Privacy and whatnot.

But maybe you work for the treasury dept and have been holding out on us? :)

sizemik

I do not believe that the USA will have an Argentinian/Greek/Zimbabwe style crash of its currency economy, or anything else. I expect some rogue going ahead. . . . problemaddict

No argument from me on that . . . the USA's crafting of it's crash is entirely unique. It's our idea of "rogue" that probably differs.

botchtowersociety

Interesting how billions were given to the financial sector, and that is cool.

Who said it was cool? Hmmm?

Satanus

Uhh, sorry, i thought you were a bailout supporter.

The thing that is different between bank loans and loans between two regular people, is that banks can loan money they don't have. It's based on the fractional banking principle. It makes repayment seem seem like a form of theft. If they don't get back some of the money they didn't have in the first place, who cares?

S

Argentina Must Suffer!

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