Argentina market crash, first domino

a reply to: paraphi

www.dw.com...

Most governments around the world owe a fortune. But the Italian debt pile would make most others blush. Italy owes $2.3 trillion (€2.06 trillion) in public debt. That's around 133% of its GDP — a massive ratio that puts it in the top five in the world.

While the majority of that stock of borrowing is weighing down banks in Rome and Milan, European banks are severely exposed in the event of anything going wrong. France is in the hole for a potential €285 billion according to a study by Bloomberg, while German, Spanish, British and Belgian banks also have cause for concern.

www.investopedia.com...

What is Italexit (Italeave) Italexit, short for "Italy exit," also known as Italeave, is an Italian derivative of the term Brexit, which refers to the June 2016 United Kingdom vote to leave the European Union. Other countries with extremist parties that have acknowledged their own versions of the possibility of leaving the EU include France (Frexit), Austria (Oustria) and the Czech Republic (Czech-out).

Buy cheap.
Argentina is a beautiful land.
Been thinking about heading that direction.
$2900 per hectare.
Not too pretty bad.

a reply to: toysforadults

Of course Argentina's market crashed... a left wing fascist just received a majority vote against their seated moderate right wing president in their first presidential primary election on Sunday. It looks like they will elect someone who stands against everything stock markets, money value, and prosperity represents so, obviously, their market will respond by taking a massive dump.

I don't think this serves as any premonition for the US or the west in general, except as a wonderful reminder: "Don't elect leaders who espouse social justice, state run corporatism, and socialism through fascist dictatorial control ideologies. When you do so, your economy goes down the toilet and your country's standards of living and value certainly follows suit."

originally posted by: Homefree
Buy cheap.
Argentina is a beautiful land.
Been thinking about heading that direction.
$2900 per hectare.
Not too pretty bad.

Looking at Bariloche myself, if they elect this government and they go full blown left wing I'm out otherwise I[m buying cheap

just need maybe another year or 2 before I'm ready to get a job in their telecomm industry

Money is a made up thing by humans
All of this in irrelevant..

originally posted by: Spacespider
Money is a made up thing by humans
All of this in irrelevant..

People keep saying that, and it sounds oh so "enlightened." Yet, at the end of every day, money is and will for the foreseeable future continue to be what each human requires to exchange for a roof over their head, clothes on their body, electricity running to their home, food on their table, and even the computer and web connection you typed that little nugget of enlightened virtue signalling on. You can be philosophical and die starving, naked, and homeless blathering on about how "irrelevant" money is while absolutely nothing in the world around you changes to coddle your opinion on it, or you can be realistic and recognize that "Hey, I may not like the idea of money... but I sure as hell need it to pass pleasantly through this life."

YOLO SPY calls tomorrow good luck

a reply to: PsychoEmperor

LMAO..you think so eh.

You are in for a shock soon enough! I wonder what your excuse will be

a reply to: toysforadults

Gold just hit its all time high.
So Junior Mining is a great low risk choice.
The junior gold companies that are trading at $.30 - $1.00, will see an increase.

a reply to: burdman30ott6

Hahah!
“Little nugget of enlightened virtue”
But your completely correct.
Unless we have some sort of an apocalypse tomorrow and currency as we know it is deemed worthless, people are still gonna need to bust their backs bringing in that paper.

a reply to: Macenroe82

$1 is my price point but I buy anything that's sitting on minable gold or silver

Once commodities go up miners buy up smaller mines and make them profitable

originally posted by: FamCore
a reply to: toysforadults

US 30-year Ts are yielding 2.051%, an all-time low!

We'll be seeing negative interest rates by next year at this time

Zero Interest Rate Policy (ZIRP) won't be enough, even the Fed will start doing Negative Interest Rate Policy (NIRP)?

Japanification in the US... that should be making people really nervous (US budget deficit is also $1.09 Trillion for FY 2019). States like Illinois and municipalities are also going bankrupt (Pensions are getting slaughtered as well).

Where will we go from there? Choo-choo... the freight train is picking up speed :/

This ignores a few important points like what’s putting downward pressure on the long end of the curve, whether or not the US can service it’s debt (it can - comfortably) and the fact we have a long way to go to get to neg rates. When you take the hyperbole out of the media the bear case is still a little hard to make yet.

That said... the Fed is dumb and could jack up our situation materially.

I always felt that when we implemented “theoretical” monetary policy in 2008 - something had to break eventually. We did too much QE, finally stopped and the economy got better! But now we’re slowing economically and the fed is without several arrows for its quiver.

Do we turn into Japan? Maybe. If demand for Treasuries surges in a mass risk off trade I wouldn’t be shocked.

a reply to: St Udio

Greenspan, the former Fed Head, is playing the role of Paul Revere on the eventual ZIRP that both the Treasury and the Federal Reserve will be pushing upon the shriveled-up middle-class survivors that are clinging to the sides of the lifeboats launched by the Ship pf State

They are talking about below zero interest rates, so that would be NIRP and not ZIRP

a reply to: vonclod

Do you mean similar to the shock you have had to deal with for the last three years? Were you one of the ones who believed the economy would crash the minute Trump won the election?

If there is a NIRP, how does that affect prospective homebuyers, and what does that do to people locked into their current mortgage interest rates? Is this going to be another 2008 where under water homeowners walked from their home loans?

originally posted by: Fools
It had this same issue in the 1990's and yet it keeps electing the same crew as leadership from Buenos Aries.
I would kind of suspect that this time they may be a bit smarter next election cycle and pull off what Brazil has recently pulled off.

We have been ruled by the right these last four years, so as you say a different crew was elected, and they made every human and economic aspect worst in every possible way, this is the reason why we are definitely going back to the right.