marylander1940 Posted November 27, 2023 Share Posted November 27, 2023 (edited) Argentina comes from "argentum" the Latin for silver, the River Plate's basin goes from Brasilia to Bolivia and it was called by former Bolivian president Gonzales Samaniego nicknamed "el gringo" the Mississippi that doesn't freeze. Edited November 27, 2023 by marylander1940 Link to comment Share on other sites More sharing options...
MscleLovr Posted November 27, 2023 Share Posted November 27, 2023 I can’t believe I have to write this. The answer is a resounding No. Just a brief reading of Argentine history will tell you: the politicians are corrupt and loot the state; the country borrows money but doesn’t repay loans; and rampant inflation and currency devaluation are long-standing problems. MikePDNA51, + augustus and pubic_assistance 1 2 Link to comment Share on other sites More sharing options...
marylander1940 Posted November 27, 2023 Author Share Posted November 27, 2023 (edited) 1 hour ago, MscleLovr said: I can’t believe I have to write this. The answer is a resounding No. Just a brief reading of Argentine history will tell you: the politicians are corrupt and loot the state; the country borrows money but doesn’t repay loans; and rampant inflation and currency devaluation are long-standing problems. That's been the sad story of Argentina since an actress showed up and started printing money, but it was a very different country in the first half of the XX century! Edited November 27, 2023 by marylander1940 + augustus 1 Link to comment Share on other sites More sharing options...
sutherland Posted November 27, 2023 Share Posted November 27, 2023 For a while it was called "Bargain-tina" since the American dollar went very far there as their economy tanked + Vegas_Millennial and + keroscenefire 2 Link to comment Share on other sites More sharing options...
+ Vegas_Millennial Posted November 28, 2023 Share Posted November 28, 2023 On 11/27/2023 at 7:51 AM, marylander1940 said: Argentina comes from "argentum" the Latin for silver, the River Plate's basin goes from Brasilia to Bolivia and it was called by former Bolivian president Gonzales Samaniego nicknamed "el gringo" the Mississippi that doesn't freeze. I would happily invest in the LAND of Argentina. But sadly, like all socialist economies, the people's ideals make the country a poor investment. + augustus 1 Link to comment Share on other sites More sharing options...
+ WilliamM Posted November 28, 2023 Share Posted November 28, 2023 On 11/27/2023 at 2:37 PM, marylander1940 said: That's been the sad story of Argentina since an actress showed up and started printing money, but it was a very different country in the first half of the XX century! "An actress?" Judy Garland? + augustus 1 Link to comment Share on other sites More sharing options...
Jim_n_NYC Posted November 28, 2023 Share Posted November 28, 2023 49 minutes ago, WilliamM said: "An actress?" Judy Garland? No, I think it was Madonna. 😜 demonito25, EZEtoGRU, + nycman and 2 others 1 4 Link to comment Share on other sites More sharing options...
+ augustus Posted November 28, 2023 Share Posted November 28, 2023 On 11/27/2023 at 2:37 PM, marylander1940 said: That's been the sad story of Argentina since an actress showed up and started printing money, but it was a very different country in the first half of the XX century! Everyone forgets that Argentina was considered rich in the very early 20th century. It took a big turn to the left in the 30s and has been an economic basket case for decades. BSR and + BOZO T CLOWN 2 Link to comment Share on other sites More sharing options...
marylander1940 Posted November 28, 2023 Author Share Posted November 28, 2023 15 minutes ago, augustus said: Everyone forgets that Argentina was considered rich in the very early 20th century. It took a big turn to the left in the 30s and has been an economic basket case for decades. In the 30's they were still doing great and barely affected by the depression, but it was in the late 40's with populism that things changed for bad. Every 20 years the country has a huge crisis. The government nationalized the industrial debt in the 70's, hyperinflation in the 80's, later in 2001 a default, and nowadays at the edge of hiperinflation again. Uninterrupted democracy since 1983 and last coup attempt in 1990, those are certainly positive signs. pubic_assistance 1 Link to comment Share on other sites More sharing options...
BSR Posted November 29, 2023 Share Posted November 29, 2023 4 hours ago, augustus said: Everyone forgets that Argentina was considered rich in the very early 20th century. It took a big turn to the left in the 30s and has been an economic basket case for decades. Blessed with almost ideal geography and an abundance of natural resources, Argentina was indeed one of the wealthiest nations in the world pre-1930. Today, more than 40% of Argentines live in poverty. Would I invest in Argentina? Eek! No way!! But I still dream of visiting Buenos Aires one day for a long stay, like at least 3 months. That porteño accent just melts me. + augustus and pubic_assistance 2 Link to comment Share on other sites More sharing options...
mike carey Posted November 29, 2023 Share Posted November 29, 2023 We were twins in 1900, two of the richest countries in the world, thriving under Austral stars. The austral turned out no better than previous or later iterations of the currency. marylander1940 1 Link to comment Share on other sites More sharing options...
marylander1940 Posted December 4, 2023 Author Share Posted December 4, 2023 On 11/28/2023 at 4:45 PM, Jim_n_NYC said: No, I think it was Madonna. 😜 Link to comment Share on other sites More sharing options...
+ keroscenefire Posted December 11, 2023 Share Posted December 11, 2023 I don't know about investing but it's aparently an absolute bargain to travel there. You can get 364 Argentinan pesos to the dollar and the value actually holds up. I had friends visit a few months ago and they said they could eat at a very nice restaurant: Literally servers in tuxedos, multi-course meals, wine, really good steak, dessert, etc. They said they got the bill, did the exchange rate math and it was less than $20 per person for a meal they said would easily be $100+ in the US. + Vegas_Millennial, BSR and + augustus 2 1 Link to comment Share on other sites More sharing options...
marylander1940 Posted December 12, 2023 Author Share Posted December 12, 2023 On 12/11/2023 at 12:59 AM, keroscenefire said: I don't know about investing but it's aparently an absolute bargain to travel there. You can get 364 Argentinan pesos to the dollar and the value actually holds up. I had friends visit a few months ago and they said they could eat at a very nice restaurant: Literally servers in tuxedos, multi-course meals, wine, really good steak, dessert, etc. They said they got the bill, did the exchange rate math and it was less than $20 per person for a meal they said would easily be $100+ in the US. If you go to an "arbolito" (street seller) you'll get an even better deal. The minimum salary in nearby Uruguay is almost $600 per month, that monthly income is only reached by the top 10% of Argentines, most of them live with barely $100 per month. Link to comment Share on other sites More sharing options...
Bokomaru Posted December 13, 2023 Share Posted December 13, 2023 On 12/12/2023 at 10:55 AM, marylander1940 said: If you go to an "arbolito" (street seller) you'll get an even better deal. This is true. In fact you’ll get around double the official exchange rate. Several friends of mine were just there last month. marylander1940 1 Link to comment Share on other sites More sharing options...
EZEtoGRU Posted December 13, 2023 Share Posted December 13, 2023 (edited) Argentina's new president devalued the peso by over 50% today. This is one of multiple economic measures of his economic plan to shock the economy into the real world. I have been traveling to Argentina for decades and I have witnessed many economic changes. I still love Argentina in spite of it all. Great wine...great steak...beautiful men. I remember when Ford Falcons (remember those??) were seen driving all over Argentina and Uruguay. Edited December 13, 2023 by EZEtoGRU clarity + Lucky, marylander1940, + WilliamM and 2 others 4 1 Link to comment Share on other sites More sharing options...
MscleLovr Posted December 16, 2023 Share Posted December 16, 2023 30 minutes ago, marylander1940 said: At least Goldman Sachs trust Argentina now! Not so. I’d term it “a triumph of hope over experience” 😐 30 minutes ago, marylander1940 said: Goldman Sachs added Argentina’s sovereign bonds to its basket of preferred emerging-market distressed credits to go long With bonds trading at 37 cents on the dollar, and their view that they may strengthen to 45 cents, that’s a nice percentage gain (21.6%).…PROVIDED THAT you are both smarter and can trade better than the Goldman dealers on the other side of that trade 😉 marylander1940 1 Link to comment Share on other sites More sharing options...
+ Lucky Posted December 16, 2023 Share Posted December 16, 2023 I would much prefer to invest in Argentinean men. thomas, + WilliamM, Cooper and 5 others 2 2 2 2 Link to comment Share on other sites More sharing options...
marylander1940 Posted January 2 Author Share Posted January 2 Interesting analysis about why Argentina if it's able to do math has nothing to lose in the future! Link to comment Share on other sites More sharing options...
+ Vegas_Millennial Posted January 2 Share Posted January 2 2 hours ago, marylander1940 said: Interesting analysis about why Argentina if it's able to do math has nothing to lose in the future! Argentina's brightest days are in the future. They always have been, and always will be. 😂 + augustus 1 Link to comment Share on other sites More sharing options...
marylander1940 Posted January 2 Author Share Posted January 2 3 minutes ago, Vegas_Millennial said: Argentina's brightest days are in the future. They always have been, and always will be. 😂 Actually that's based on a joke about Brazil Brazil, it is often and not quite fairly said, is the country of the future and always will be. As the Olympics focuses global attention on the country, it's worth exploring the various ways in which this maxim is -- and may not be -- true. Brazil Is Still the Country of the Future | Mercatus Center Link to comment Share on other sites More sharing options...
Rudynate Posted January 2 Share Posted January 2 On 11/28/2023 at 1:55 PM, WilliamM said: "An actress?" Judy Garland? Evita Peron, I'm guessing. Link to comment Share on other sites More sharing options...
SouthOfTheBorder Posted January 10 Share Posted January 10 (edited) political corruption & inevitable political instability by those seeking to retain power and influence at all costs are the undoing of many countries. Categorizing it as left or right is just lazy - it's seldom about ideology, although that is what they feed the masses to justify their actions. Edited January 10 by Kevin Slater MikePDNA51 1 Link to comment Share on other sites More sharing options...
marylander1940 Posted February 20 Author Share Posted February 20 The economic shock is paying off! Argentina Sees First Monthly Budget Surplus In 12 Years WWW.BARRONS.COM The Argentine government in January saw its first monthly budget surplus in nearly 12 years, as new President Javier Milei continues to push for strong spending cuts, the... + Vegas_Millennial, + augustus and + nycman 3 Link to comment Share on other sites More sharing options...
MscleLovr Posted February 20 Share Posted February 20 And the monthly rate of inflation has been published as having fallen to only 20% ! BSR, marylander1940, + Vegas_Millennial and 1 other 1 1 1 1 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now