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justice for all
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I'm on my phone right now. Let me read and I will share my thoughts properly tomorrow (with a keyboard in hand).
 

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Well, that was a short and sensationalist article if I ever read one. I agree with some points, but others are kind of murky... I don't know if it's supposed to be a current socio-economic analysis of the country or is this 100% aimed towards potential investors, looking for opportunities in other countries... ?

Argentina can’t pay its bills. A hard default is coming. Sorry Century Bond holders. It was good while it lasted.
I agree with the first part, but the rest... what was good while it lasted? I don't think this country has had any kind of considerable influx of international investments since... the 90's? (and we all know how that turned out) If the author is talking about Macri's government, then I honestly don't get it because one of the big campaign promises back in 2015 was regarding bringing investors from around the world and that never happened. I remember him begging Trump for him to buy us bananas or something...

Once the new government of Alberto Fernandez and Cristina Kirchner came in, the writing was on the wall for anyone who wanted to read it. The Kirchner leadership that still dominates official politics in Buenos Aires will prove once again why lending money to Argentina is — well — a bad idea.
Again, how was it not a bad idea four years ago? Also, Kirchner leadership... ehh that's a bit iffy... They've pushed her aside for a while now, she was just part of the formula to bring in votes. Her time is up.

The economy is in a recession again. It survives on dollars. Everything about Argentina’s core business, from the commodities trade to wine country and Patagonia tourism to its entire real estate market is done in dollars. No one wants the peso. The poor have it.
I fully agree here, but man that last sentence. Where did that come from? 😅

I don't own dollars, never have. My paycheck is in pesos, I've always payed my rent in pesos. I bought my car in pesos. I wouldn't say I'm poor either. Obviously if you were to invest in some huge business, or start a tourism related company or buy land the price is going to be set on dollars, but how is everything outside that 'poverty'??
 
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That 'article' out of the way... I mean it's not too difficult to see what is happening right now. Right off the bat you're coming from a presidency which saw the economy suffer greatly, particularly the last two years (2018/2019). Now, within those terms, you have an almost completely frozen economy due to the quarantine and the state is burning through the reserves at a quick pace.

It's no surprise that Argentina is an extremely under-developed country. From infrastructure to industry and services. When you freeze a country like that, you don't have a foundation to lean on. There's nothing. A lot of us teachers aren't seeing any kind of income, small and medium business owners are in a pretty rough spot, food and misc supplies are not making their way to the markets. It's a tough situation, and it's happening at a really bad time...
 

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justice for all
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@Awka Liwen thanks, man, it’s good to have an insider opinion. I always thought Argentina had great potential to become a strong developing economy but something (mainly bad politicians) was always holding you back. Hopefully you’ll be fine.
 

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@Awka Liwen thanks, man, it’s good to have an insider opinion. I always thought Argentina had great potential to become a strong developing economy but something (mainly bad politicians) was always holding you back. Hopefully you’ll be fine.
I mean, at its core, Argentina is a third world country condemned not to flourish.

I've always seen my country as one of the most (if not the most) blatant example of a country doomed to fail despite its natural resources. If you take a look at Argentina's geography it's absolutely insane to think we might be in the situation we've always been. And, you know, there are tons of elements to it, from the extractivist nature of the spanish colonization, to multiple military coups, suddent swings from left to right.

But what I personally believe to be the issue, our core foundation (politicians, public employees, unions, you name it) revolves on making money as quickly as possible, with the least amount of effort and not thinking in anybody else, or in the future for that matter. Everything just works with the bare minimum effort, from transportation, to education, to healthcare. Governments come and go, generations of people come and go but there's this accepted way of running things that is ingrained on being an argentinian. Literally to the point where if you, in your job, try to push it to do the best possible effort, first it won't make a difference because the system is rigged against that kind of work philosophy, second, I've honestly had people look at you wrong at work because you're making them look bad. As in "what is this guy even doing?".

At this point in my life, honestly, I just try to do the best I can at my job, take care of my family and try to spread love around. The big picture is not going to change and there's no point in making one's mental health suffer for nothing.

ok, now I'm done venting
 

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Impressively sumed up by Awka . Spot on . 100 % . That's as objective an analysis of this society as you'll ever get.

Perhaps adding a strong fragmentation that is the result of a bunch of different people put together with no national identity despite what everyone seem to believe or appear to be when you hear us talk , that doesn't play out in reality, where it matters ,
There is perhaps a marked romantization of the smart and then the con man . The ones who take advantage of the system or in general in any situation is seen at every level , in every social class, every ideology right or left. That plus arrogance maybe our national traits.

With this lack of some kind of common ground in values, character, attitudes, on identity etc consequently a general consensus on a way to go just plain DON'T EXIST, never have and Im afraid never will.
 

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BUSINESS
Argentina's debt restructuring deal explained
The Argentine government has struck a substantial debt deal with some major creditors, saving it billions. What exactly is the deal about and could it save the ailing economy?


Argentinien Lehrer demonstrieren in Buenos Aires (picture-alliance/AP Photo/V. R. Caivano)

Argentina owes a fortune — $323 billion (€274 billion) as of the end of 2019 — which it cannot pay back. That has been the case for many years. It owes several billion to the IMF and to bondholders of various shapes and sizes all around the world, particularly in the US. The roots of its mess go back several decades.
Since the start of 2020, the country was careering toward its ninth sovereign default and the third of the last 20 years. It officially defaulted in May.
The government has been negotiating with a group of large US investment firms, led by BlackRock, to which it owes billions, in an attempt to mitigate the latest crisis. According to the Argentine government, a deal has been done.
So, what is the deal?
American investment corporation BlackRock, the world's largest asset manager, has been negotiating with the Argentine government on behalf of three different creditor groups to which Argentina reportedly owes more than half its overseas debt.
The three creditor groups are known as the Ad Hoc Group of Argentine Bondholders, the Exchange Bondholder group and the Argentina Creditor Committee. The negotiations have been over the restructuring of around $65 billion in debt which the Argentinean state owes to these and other bondholders.
BlackRock, a major Argentine creditor, negotiated on behalf of three creditor groups
The investors have agreed to drop their defaulted bonds for new bonds, which will be paid back at under 55 cents of every dollar of the original value. That means they will lose a significant amount of their original investments.
The government had set a deadline of Tuesday, August 4 for a deal to be done. According to Bloomberg, the breakthrough reportedly came during a phone call between Argentinean Economy Minister Martin Guzman and BlackRock Managing Director Jennifer O'Neil over the weekend.
Is the deal important?
The deal is very important for the Argentine government as it means the country won't be locked out of international credit markets, and because it avoids the huge reputational damage that would come with a full, open-ended default.
When Argentina defaulted on more than $80 billion of debt in 2001, it led to years of litigation and legal cases taken by several disgruntled bondholders. Some roots of the present crisis can be found there. The bondholders eventually won in court, leading to another default in 2014 before a settlement in 2016.

Coronavirus exacerbates Argentina's financial woes
So in short, if this latest deal is rubber-stamped, it would mean that bondholders have made significant concessions to Argentina, saving the state not just money but also part of its already battered reputation and its place at the table of international credit borrowing.
Why now?
The COVID-19 pandemic made a deal much more likely and necessary from the bondholder side, according to several analysts. Argentina has been in the grip of a bad recession since 2018 and the pandemic has only worsened an already dire situation.
The likelihood of the bondholders holding out successfully for a better deal was slim. A backlash in terms of public opinion would have been inevitable had they pursued the country in court in the middle of an economic crisis that has caused poverty and suffering.
Many in the populist Argentine government, including Vice President and former President Cristina Kirchner, tend to blame Argentina's economic problems on foreign creditors and the IMF.
"I think there certainly was a role played by COVID-19 in reducing the expectations of creditors of what is reasonable and what is acceptable almost morally in this context," Nicholas Saldias, a political analyst told The Wall Street Journal.
 Hedge fund protests in Argentina
Banners blaming hedge funds and investment firms for Argentina's debt problems are a common sight at protests in Argentina
"For the creditors, it would look bad if you are asking in the middle of the worst economic recession since the Great Depression and a pandemic which is killing hundreds of people…in the country for an exorbitant amount of money."
Is the end of the matter?
Even with the deal now struck, it is certainly not the end of Argentina's economic problems. Rather than be seen as a cure, it is more of a bandage that allows the country time to pursue a more lasting treatment for its ills.
Argentina also owes around $44 billion to the IMF, a figure it will also likely need to restructure if it is to have any hope of paying it back.
Beyond the immediate problems of debt and debt reissuance, Argentina has basic economic problems to contend with. The country's economy is expected to contract by 10% this year and with a currency crisis and spiraling inflation on top of the chaos of the pandemic, there is obviously no one-size-fits-all deal that will pull it to safety. The road ahead remains long and treacherous.
 

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I mean, at its core, Argentina is a third world country condemned not to flourish.

I've always seen my country as one of the most (if not the most) blatant example of a country doomed to fail despite its natural resources. If you take a look at Argentina's geography it's absolutely insane to think we might be in the situation we've always been. And, you know, there are tons of elements to it, from the extractivist nature of the spanish colonization, to multiple military coups, suddent swings from left to right.

But what I personally believe to be the issue, our core foundation (politicians, public employees, unions, you name it) revolves on making money as quickly as possible, with the least amount of effort and not thinking in anybody else, or in the future for that matter. Everything just works with the bare minimum effort, from transportation, to education, to healthcare. Governments come and go, generations of people come and go but there's this accepted way of running things that is ingrained on being an argentinian. Literally to the point where if you, in your job, try to push it to do the best possible effort, first it won't make a difference because the system is rigged against that kind of work philosophy, second, I've honestly had people look at you wrong at work because you're making them look bad. As in "what is this guy even doing?".

At this point in my life, honestly, I just try to do the best I can at my job, take care of my family and try to spread love around. The big picture is not going to change and there's no point in making one's mental health suffer for nothing.

ok, now I'm done venting
Practically everything u mentioned has also been gradually occurring in the so-called north western oriented ‘advanced civilisations’ & the finger can b pointed directly at the globalist elites, central bankers or simply TPTB that control these governments & policy makers.
 

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Practically everything u mentioned has also been gradually occurring in the so-called north western oriented ‘advanced civilisations’ & the finger can b pointed directly at the global elites, central bankers or simply TPTB that control these governments & policy makers.
Oh, for sure. But I think the key difference is that in most of these countries, even within this context you're describing, the average quality of life is at least acceptable. Which is more I can say for this disfunctional attempt of a state.
 
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There is perhaps a marked romantization of the smart and then the con man . The ones who take advantage of the system or in general in any situation is seen at every level , in every social class, every ideology right or left.
I feel this applies to Chile too. We're doomed, ain't we?
 

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Also I wanted to ask why Argentinian movies are good/great (at least the ones that make it abroad) and the Chilean ones suck so much?
 
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