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Argentina's market drops 48% in one day

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:eek:

"The surprise outcome in Argentina’s primary vote roiled the nation’s financial markets, sending the S&P Merval Index plunging 48% in dollar terms.

That marked the second-biggest one-day rout on any of the 94 stock exchanges tracked by Bloomberg going back to 1950. Sri Lanka’s bourse tumbled more than 60% in June 1989 as the nation was engulfed in a civil war."
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Dona Ferentes

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the most popular bank in Argentina is the Mattress Bank, where US dollars are stashed.

Recent travails are merely the latest iteration of their flawed economy.:


and, to think at the start of the twentieth century, Argentina was held up as THE emerging success story. It attracted far more capital than Australia did at the time.
 

Sean K

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Here we go again... Always Argentina

How many times have they defaulted on debt? Must be three or four. Spain really left this entire continent in a crap hole. Not sure if we can blame them now though. Maybe Che is responsible.

A few ASX listed stocks playing in Argentina have had a poor couple of weeks. This may be part of it, but not sure how selling stuff in USD affects them.
 

wayneL

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How many times have they defaulted on debt? Must be three or four. Spain really left this entire continent in a crap hole. Not sure if we can blame them now though. Maybe Che is responsible.

A few ASX listed stocks playing in Argentina have had a poor couple of weeks. This may be part of it, but not sure how selling stuff in USD affects them.
On my bucket list is to go to South America, but jeez those countries always seem to be on the precipice of some sort of coup or financial disaster of some sort.
 

Sean K

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On my bucket list is to go to South America, but jeez those countries always seem to be on the precipice of some sort of coup or financial disaster of some sort.

Some amazing things to see...

It's interesting comparing New World countries that were colonised by either England, France, the Dutch, Spain and Portugal. Some seem to have gone a little better than others.
 

wayneL

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Some amazing things to see...

It's interesting comparing New World countries that were colonised by either England, France, the Dutch, Spain and Portugal. Some seem to have gone a little better than others.
One if my clients is from Uruguay, came out with family. Reckons she'd go back if the rest of them weren't here. Got another client cycling through Columbia, Ecuador and Peru ATM. Will have to wait for the report on that
 
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One if my clients is from Uruguay, came out with family. Reckons she'd go back if the rest of them weren't here. Got another client cycling through Columbia, Ecuador and Peru ATM. Will have to wait for the report on that
Uruguay is the Swiss land of Latin America, a bit boring even...but boring Latino vs Australia..I understand her.:)
Was disappointed by Chile..and expect same in Argentina..a leftist mindset, arrogant, lazy and pseudo intellectual...all same points leading to the fall of my native country which I could recognise with horror in Chile.and expect to see same in Argentina .pending visit...
Interested by Brazil and Mexico , especially the later...time and travel will tell
 

Sean K

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Uruguay is the Swiss land of Latin America, a bit boring even...but boring Latino vs Australia..I understand her.:)
Was disappointed by Chile..and expect same in Argentina..a leftist mindset, arrogant, lazy and pseudo intellectual...all same points leading to the fall of my native country which I could recognise with horror in Chile.and expect to see same in Argentina .pending visit...
Interested by Brazil and Mexico , especially the later...time and travel will tell

What's France's most successful colony frog? Quebec? New Caledonia? I like Vietnam but I'm not sure what you left them except for bread sticks which produced the amazing Banh Mi.
 

Dona Ferentes

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Arriving late '79, I spent 12 months in S. America .. a circumambulation of the continent, mainly on buses.

First stop Chile, one word that was whispered then was desaparecido. People were scared of Pinochet and the military.

Missed the Chilean navy supply ship (no cruise ships in those days) to the Antarctic bases so i crossed from Osorno to Bariloche, hitched to Neuquen and enquired about a train ticket to Bahia Blanca.... 20,500 pesos. Went and changed just enough USD for the ticket, went back to buy and the price was 22,800 pesos. Welcome to inflation, Argentina style.
 
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Sean K

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Arriving late '79, I spent 12 months in S. America .. a circumambulation ot the continent, mainly on buses.

First stop Chile, one word that was whispered then was desaparecido. People were scared of Pinochet and the military.

Missed the Chilean navy supply ship (no cruise ships in those dsys) to the Antarctic bases so i crossed from Osorno to Bariloche, hitched to Neuquen and enquired about a train ticket to Bahia Blanca.... 20,500 pesos. Went and changed just enough USD for the ticket, went back to buy and the price was 22,800 pesos. Welcome to inflation, Argentina style.

Screenshot 2023-08-16 at 8.14.19 pm.png
 
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What's France's most successful colony frog? Quebec? New Caledonia? I like Vietnam but I'm not sure what you left them except for bread sticks which produced the amazing Banh Mi.
As pointed in my post, the french ideal of intellectuals sipping coffee, not working, hating money and fromenting revolution is not exactly an economic winner.
We did well a lonnnng time ago by helping the creation of the USA (constitution etc), and Napoleon thru his European empire did bring civil laws, democracy systems,engineering and national schoolings, police department etc..but since the fall of France after wwi..no real french colony I would dream of...
Africa is a dumpxxx where the french intellectuals created their own anti colonialist movement, and where most countries have been going backward in the last 50y..but for population numbers ,numbers now overriding the colonial power on the mainland.
Places like la reunion, and Guadeloupe are a kind of success in a multi racial and multi religious integrated into a french nation/lifestyle but the last 30 y of socialism has transformed these in our equivalent of NT: multigenerationsl welfare dumps in paradise.
At least, even the far left there is not yet planning to give them yet the voice?.
So no brilliant ex colony or still attached colony I can think of.
By nature, the heavy PS, centrally controlled french government does not fit well with a distributed territory.
Paris making decision on the legal fishing size or rent fixed price in st Miquelon off terra nova, or Tahiti....nope does not work well.
And we left these government models as legacy in former colonies.
Maybe someone can think of a success story?
 

Sean K

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Maybe someone can think of a success story?

French Polynesia is going pretty well from what I can tell. Only visited Tahiti and Bora Bora some time ago but it seemed like a happy place. Paul Gauguin and his cohorts might have caused a little trouble with an STD plague though. But that might have been started by Fletcher Christian et al.

I'd still count Eastern Canada as French success. They think they're French anyway.

Is this the Argentina stock market or travel thread? :)
 

IFocus

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First stop Chile, one word that was whispered then was desaparecido. People were scared of Pinochet and the military.

Still were in 87 and they had good reason to be afraid, lovely place and people.
 

Dona Ferentes

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The radical conservative libertarian, Javier Milei, surprisingly won the first round of the Argentine presidential election (30%) and is now the favorite to win the run-off in November.
 

Sean K

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The radical conservative libertarian, Javier Milei, surprisingly won the first round of the Argentine presidential election (30%) and is now the favorite to win the run-off in November.

But does he like mining?

Screenshot 2023-08-18 at 4.58.22 pm.png
 
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As pointed in my post, the french ideal of intellectuals sipping coffee, not working, hating money and fromenting revolution is not exactly an economic winner.
We did well a lonnnng time ago by helping the creation of the USA (constitution etc), and Napoleon thru his European empire did bring civil laws, democracy systems,engineering and national schoolings, police department etc..but since the fall of France after wwi..no real french colony I would dream of...
Africa is a dumpxxx where the french intellectuals created their own anti colonialist movement, and where most countries have been going backward in the last 50y..but for population numbers ,numbers now overriding the colonial power on the mainland.
Places like la reunion, and Guadeloupe are a kind of success in a multi racial and multi religious integrated into a french nation/lifestyle but the last 30 y of socialism has transformed these in our equivalent of NT: multigenerationsl welfare dumps in paradise.
At least, even the far left there is not yet planning to give them yet the voice?.
So no brilliant ex colony or still attached colony I can think of.
By nature, the heavy PS, centrally controlled french government does not fit well with a distributed territory.
Paris making decision on the legal fishing size or rent fixed price in st Miquelon off terra nova, or Tahiti....nope does not work well.
And we left these government models as legacy in former colonies.
Maybe someone can think of a success story

Tasmania ?? sure it was only a tiny scientific research station but at least they didn't leave it in chaos
 
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