Wednesday, September 26th 2012 - 00:45 UTC

Argentina hits back at Lagarde: “this is not a football match and we are a sovereign nation”

Argentina's President Cristina Fernandez hit back at the IMF on Tuesday for warning her country about bad stats data, saying her nation is sovereign and would not be subjected to threats of any kind.

Cristina Fernandez said that FIFA has been better managed and more successful than the IMF

IMF Managing Director Christine Lagarde warned Monday that Argentina faces a “red card” if it does not produce acceptable data on growth and inflation by December. But Cristina Fernandez in a vigorous speech to the UN General Assembly, said: “My country is not a football pitch. It is a sovereign nation which makes sovereign decisions.

”As such it is not going to be submitted to any pressure, and much less to any threat,“ she said to cheers from her delegation.

”I would like to tell the IMF managing director: this is not a football match. This is an economic and political crisis and the worst one in memory since the (Depression) 1930s.“

”And since we are comparing football (soccer) with politics and economics, I would like to say that the performance of the head of FIFA has been much better than those of the head of the Fund or the IMF directors,” Kirchner quipped to boisterous applause.

She added I have never heard, despite the world crisis, any self criticism from the IMF, and recalled that in the nineties Argentina was the IMF showcase, (taking money at very high interest rates) but a few years later the whole stage blew to pieces: more precisely in 2001 with the following melting of the economy and default.

“We have restructured 94% of our defaulted debt and paid 35 cents for each dollar, while Enron one of the greatest failures in US corporate history returned one cent per dollar”, said the Argentine president who emphasized that when her husband President Nestor Kirchner took office, the country’s sovereign debt was 160% of GDP, and now stands at 14%”.

“When in 2003 he (President Kirchner) came before this assembly, he asked for time to reorganize and pay back, because ‘dead people don’t pay debts’ and embarked in an inclusion expansion economic policy which allowed Argentina to emerge from disaster” and since then we have honoured, and will keep honouring our debts.

The president recalled that since 2003 Argentina never returned to money markets so the expansion and recovery since then has been done entirely with “our own generated funds”.

Finally she said that it is in the essence of capitalism that if you are paid interest rates several times higher than the going market rate at some point, “you won’t be paid any longer those exorbitant rates and thus if you accepted the benefits, you must also accept the consequences of such risk”.

Last week the IMF officially warned Argentina it could face sanctions in December if it did not move to begin providing more accurate economic data.

If progress has not been made by December 17, the IMF board said it “may consider additional steps,” without being specific.

Failure to meet IMF rules can lead to sanctions, including suspending a member's voting rights, an extremely rare event which would be a first for a developed G20 country such as Argentina.

The IMF and Argentina have been battling over Buenos Aires's widely questioned official data since 2011, with private sector economists saying the government vastly understates the pace of price rises.

In early September the government released monthly figures that implied an annual inflation rate through August of around 10%. But a group of private economists who average their own estimates and is released through members of the Congressional opposition put the pace of inflation at 24%. A percentage on which trade unions negotiate salary increases and which courts use as a reference when ruling on money disputes.
 

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1 Captain Poppy (#) Sep 26th, 2012 - 01:20 am Report abuse
At her hotel

s1064.beta.photobucket.com/user/CaptainPoppy1/library/

on the way

www.youtube.com/watch?v=xwQh47tsMMg&feature=player_embedded

Another

www.youtube.com/watch?v=J6Oq-WgTOP8

At the UN

www.youtube.com/watch?v=2T3lVDWQy9M&feature=player_embedded
2 slattzzz (#) Sep 26th, 2012 - 01:31 am Report abuse
falklandsnews.wordpress.com/2012/09/25/argentina-claims-the-falklands-are-a-global-issue/

And then of course the usual drivel
3 Captain Poppy (#) Sep 26th, 2012 - 01:46 am Report abuse
I watched her entire boring, unthought provoking speech and she spent 2 minutes on the Falklands. She was alloted 15 minutes and spoke for 40. She opened with 10 minutes on the US Ambassador's murder, 25 minutes about unfair rules of the IMF, 2 minutes on the Falklands and 3 minutes about Iran. She rambled mindlessly.........as they chanted:

Argentina sin christina

I would be embarrassed as most Argentine's are of her. And they RG ambassador insists the USA and RG have a great relationship. SHe wasn't invited to Obama's dinner......real strong relationship
4 bushpilot (#) Sep 26th, 2012 - 02:10 am Report abuse
”Finally she said that it is in the essence of capitalism that if you are paid interest rates several times higher than the going market rate at some point, “you won’t be paid any longer those exorbitant rates and thus if you accepted the benefits, you must also accept the consequences of such risk”.

Who would loan money to a person who say this? (I'm not paying you back, that was the risk you took). What leader of a country would say this in front of the whole world?

CFK, if you are doing so excellent without borrowing any money, that is excellent. You don't need a relationship with international creditors. That is an ideal situation that all countries would like to be in.
5 gustbury (#) Sep 26th, 2012 - 02:24 am Report abuse
shut up assholes!!!!!!! .I'm not Kirchnerist but......go president!!!.Malvinas Argentinas !!!
6 DanyBerger (#) Sep 26th, 2012 - 02:25 am Report abuse
Great speech Cristina long life to our lovely Queen.
7 Malvinero1 (#) Sep 26th, 2012 - 02:31 am Report abuse
At her hotel

AHAHAHHAHA! The brits imperialist....THe brits should do the same with the very CORRUPT torys....They are MUCH WORSE than Mrs Kirchner.....

Great speech Cristina long life to our lovely Queen
Agree totally,Dany...

watched her entire boring, unthought provoking speech and she spent 2 minutes on the Falklands. She was alloted 15 minutes and spoke for 40. She opened with 10 minutes on the US Ambassador's murder, 25 minutes about unfair rules of the IMF, 2 minutes on the Falklands and 3 minutes about Iran. She rambled mindlessly.........as they chanted:

poppy: You are FINISHED like uk...Get some brain..better go away...Useless....Let see what the terrorist cameron has to say..............................................................................................................................................................................................................................................................................................................Nothing..the corrupt david and hague....
8 slattzzz (#) Sep 26th, 2012 - 02:39 am Report abuse
“As such it is not going to be submitted to any pressure, and much less to any threat”.............No you just like threatening others and don't like it when the tables are turned, typical cowardly behaviour.......Malvi David Cameron won't say anything about the Falklands as there is nothing to say, they are British and always will be and that will make CFK even more angry
9 KretinaKK (#) Sep 26th, 2012 - 02:56 am Report abuse
Here in Buenos Aires, they are protesting against every single one of her Kreepy Korrupt Kirchner Klan! Her judge, the one caught in the gay bathouse Norberto Oyarbide, who wears a $25,000 YES $25,000 diamond ring to work and hides all of his corruption had a grand old protest in front of his house today. Tomorrow the protest moves in front of the house of Guillermo Moreno, her corrupt trade and commerce secretary.......so begins the “Argentine Spring” who cares about those dumb islands - they can keep them, we need to fix Argentina from inside out, jail and execute the corrupt politicians, KIRCHNER FIRST and then give the Argentine people a fair shot at being members of the rest of the civilized world!!
10 Troy Tempest (#) Sep 26th, 2012 - 03:11 am Report abuse
Bad time to take a trip, Christina!

:-D
11 yosoy (#) Sep 26th, 2012 - 03:27 am Report abuse
once again, fighting back against criticism with attempts to stimulate national pride. Inflation, poverty, crime... rising out of control. How does she react? The formula has become so predictable - emotional blackmail over Nestor's death, and of course huge helpings of nationalist rhetoric (unite over common enemies! IMF! Malvinas! US! UK! Spain! Who next? Argentina vs the world! Argentina good, everyone else, evil!)
Cristina, why not try addressing criticism instead of changing the subject? Lagarde was talking about your dodgy stats, not the economic crisis or anything else! Why cant people see this is blatant evasion of issues? Sadly many argentines fall for it, and really believe that she is the best they can do.
Argentina is such a great country, in no small part for the passion of its people. Just such a shame many end up so easily manipulated in this way because of their passion. Lets hope more sense hits more of them soon (as it already is starting to in the cacerolazos...)
For a nation with so much pride, please, Argentina, believe in yourself abit more! Dont fall for her stupid and obvious evasive responses! look at the facts and try and think abit more objectively!
12 mastershakejb (#) Sep 26th, 2012 - 04:32 am Report abuse
LOL, Argentina = a fuckin joke!
Yall argies are gonna pay through the NOSE for this nutcase and your continuing policy of blaming everyone ELSE for your problems. Enjoy your disaster! I know we'll enjoy it, laughing our heads off!
13 DanyBerger (#) Sep 26th, 2012 - 04:41 am Report abuse
@yosoy

What about to work hard instead of “starting cacerolazos” have you ever tried? Are you member or ClarinMiente close to the scrapyard to be scrapped?
14 Ayayay (#) Sep 26th, 2012 - 04:52 am Report abuse
How do you buy designer clothes in NY on the $70-$100 a day minus the 15% minus half? How does it work legally?
15 Idlehands (#) Sep 26th, 2012 - 06:18 am Report abuse
Will she be paying the 15% tax surcharge on her expenditure in the USA?
16 Troy Tempest (#) Sep 26th, 2012 - 06:24 am Report abuse
Next meeting with the IMF,
CFK is going to “take a dive” in front of the Ref, to get sympathy.
17 Idlehands (#) Sep 26th, 2012 - 06:45 am Report abuse
1 Captain Poppy (#)

Were there protestors there protesting against all sorts of leaders and issues or was CFK the only one being heckled?
18 Tabutos (#) Sep 26th, 2012 - 07:03 am Report abuse
“performance of the head of FIFA has been” Much better then the president of Argentine republic lol
19 Malvinero1 (#) Sep 26th, 2012 - 08:14 am Report abuse
LOL, Argentina = a fuckin joke!
Yall argies are gonna pay through the NOSE for this nutcase and your continuing policy of blaming everyone ELSE for your problems. Enjoy your disaster! I know we'll enjoy it, laughing our heads off
AHAHAHHAAHAHAHa
The reality is this:
uk IS FINISHED!
uk WILL GO BANKRUPT!!

www.youtube.com/watch?v=XbLfje8_jgI
www.youtube.com/watch?v=QaxV0qyaUMo&feature=relmfu
Jim Rogers VS Gordon Brown, leave UK for Asia and drop the pound!

www.youtube.com/watch?v=68w506LH3BE&feature=related
AHAHHAHAHAHHHA poor deluded ex empire!
Hillarious...
20 mastershakejb (#) Sep 26th, 2012 - 08:20 am Report abuse
oh yes, Malvinero1, UK and USA will fall..........like 50ish years from now, and in the meantime, Argentina will crash about 10 more times at least, averaging once every 5 years, lol, as is the going Argentine story now for the last 50 or so years
21 TipsyThink (#) Sep 26th, 2012 - 08:44 am Report abuse
i do coñtributé CFK who sàying -- FIFA bétter mènaged thàn IMF
bécoùsè IMF is ñot prospérous as far as FIFA who wéll adroit oñ -- chicane , doping , moñéy laundèring...etc.
22 ElaineB (#) Sep 26th, 2012 - 08:45 am Report abuse
CFKC blamed the lenders but failed to mention how greedily Argentina grabbed and spent the money, then asked for more, and more, and more. She also failed to mention that Argentina took the money under false pretences because it failed on all counts to adhere to the terms of the loans. That is why the IMF eventually pulled the rug.

Do I think there was blame on both sides? Yes. When Argentina failed to adhere to the terms of the first loan, the lenders should have stopped lending to them. They failed to understand that the Argentine government had no moral compass and no intent to keep their side of the bargain. The Argentine president never believed for one moment that the IMF would carry out their threat.

To hear CFKC play the victim is ridiculous and every representative of every country listening to her would have been laughing at her. It might work for the domestic crowd but she looks an idiot in front of an intelligent audience.

It was interesting to hear her exalt Sepp Blatter who is probably the most corrupt man in sport today.
23 Iron Man (#) Sep 26th, 2012 - 08:46 am Report abuse
One-nil to the IMF, One-Nil to the IMF.....

To continue the football analogy, when you have committed a red card offence it is not a good idea to call the referee a w@nker while he is deciding how to punish you.
24 Welsh Wizard (#) Sep 26th, 2012 - 08:50 am Report abuse
@1

When I said that other day that she won't budge this is what I meant. I don't expect INDEC figures to change that much before the December cut-off. Even if it means she won't get any development loans etc, she knows that she can easily demonise the IMF back home and, as such, any fall-out will be directed at them rather than her administration, it will also have the benefit of projecting her as the strong leader, unwilling to bend to pressure. This is fine, if you want to be in the club you have to play by the rules but you can’t expect all the benefits and no obligations. Obviously there will be no mention of the fact that any sanctions were brought on by this flouting of rules, it will probably be put down to a conspiracy.
25 DennisA (#) Sep 26th, 2012 - 08:50 am Report abuse
The one thing I agree on with her is the IMF. This is a UN Trojan horse.
26 LEPRecon (#) Sep 26th, 2012 - 09:17 am Report abuse
@23 Ironman

LMFAO

Good point though.
27 TipsyThink (#) Sep 26th, 2012 - 09:18 am Report abuse
At léàst IMF déserves bécoming añ éminent orgànization by lénding monéy to indépendent nations Scotland,Wales,N.Ireland liké FIFA récognizes thèm às indepeñdent couñtries.
28 ElaineB (#) Sep 26th, 2012 - 09:27 am Report abuse
Argentina was only too willing to get into bed with the IMF, until it was time to pay the bill. They should quit whining about it.

But it was good to see the Argentine President show her true colours and let any possible future investors know they will just be throwing their money away - ha, ha - if they invest in Argentina. She might as well have said, “Give us your money and don't expect to get a penny back, because that is how WE do business”.
29 Pete Bog (#) Sep 26th, 2012 - 09:30 am Report abuse
@27 And?
If Scotland, Wales and Northern Ireland wish to become independent nations they will vote for it, if they wish.

It's called self-determination, not the colonialist, 19th century, backward principles CFK wants to apply.
30 malicious bloke (#) Sep 26th, 2012 - 09:51 am Report abuse
“Finally she said that it is in the essence of capitalism that if you are paid interest rates several times higher than the going market rate at some point, “you won’t be paid any longer those exorbitant rates and thus if you accepted the benefits, you must also accept the consequences of such risk”

Effect follows cause now?

The essence of moneylending is that the higher the risk, the higher the interest rate. If Argentina hadn't been consistently delinquent about paying back what it borrowed, they would pay lower rates. This isn't the fault of the IMF, this is purely the fault of a succession of thieving Argentine politicians.

And if you think that “well we're not going to pay you back what we owe you” is going to do anything but make your situation worse, you're a moron with absolutely no clue how the real economy works.
31 Captain Poppy (#) Sep 26th, 2012 - 10:17 am Report abuse
Elaine I agree, in fact there are 188 nations that belong to IMF. They must be doing something right. That was the most uninspiring speech I have ever heard from a national leader, unless you are a deadbeat borrower.
Idlehands, there is always some protests in NYC, but Argentina and Iran closed the streets all the way around the UN. And ass lips was the only leader to have a protest at a hotel
32 Welsh Wizard (#) Sep 26th, 2012 - 10:25 am Report abuse
Whether it is doing right or not is not the point in this and CFK knows it. If you want to be part of a club you have to play by the rules, end of story.
33 KretinaKK (#) Sep 26th, 2012 - 10:27 am Report abuse
Cristina is the biggest JOKE of a presdient in the world right now and things are about to get ugly towards her in Argentina as she is starting to collaborate with the murderous regime called IRAN. Argentina has historically been a country that collaborated with the Nazis (Evita and Juan Domingo Perón) let the Nazis escape to Argentina and hide in Argentina for decades in exchange for jewelry and works of art that belonged to murdered Jews. And now Cristina is following in their footsteps. There is some of this artwork hanging in the Casa Rosada to this day and some of those jewels are in Cristina Kirchner's possession!
34 Conqueror (#) Sep 26th, 2012 - 10:33 am Report abuse
@5 Yes you are. You're a thick, ignorant, lying, genocidal, thieving argie! A fart in a cesspit.
@6 The word is “queer”.
@7 Nice of you to repeat all the accurate reporting. The rest? Desperation. Isn't it time you went out and rooted through a few garbage cans for your daily “meal”? Or are you going to get your club out and go and steal it from someone?
@19 More desperation.
35 yankeeboy (#) Sep 26th, 2012 - 11:24 am Report abuse
I wonder if Lagard used Soccer analogy because she thinks CFK is too stupid to understand anything else?

I am also wondering if these long meandering stream of (un0 consciousness speeches are only something half-witted Argentinians understand and can tolerate. To me it was a bunch of disconnected thoughts and nonsensical ramblings of a drunkard, but hey that's just me.
36 Welsh Wizard (#) Sep 26th, 2012 - 12:01 pm Report abuse
On this basis, I think that the IMF have thr right to re-visit their decision to give them until December. This is not the kind of speech that a country who is going to comply would give. In any event, as someone above said, calling the ref a w@nker won't help in the final analysis...
37 yankeeboy (#) Sep 26th, 2012 - 12:07 pm Report abuse
36. Cornered animals become erratic, dangerous and lash out where every they can.
The next couple months should be fun to watch from afar.
38 Iron Man (#) Sep 26th, 2012 - 12:09 pm Report abuse
Things are going downhill rapidly for CFK.

She is alienating the unions, the middle classes and tourists. Her economic experiment is going the same way as pretty much every other economic experiment, only more quickly. She is getting an ever decreasing return every time she plays the nationalistic card. She is isolating Argentina on the world stage, apart from a few rogue states that share her world view. And the scope to bribe people onto her side declines as the economy gets worse.

In short she is on borrowed time politically. Emotionally, the one thing she doesn't seem to be able to take is criticism. It makes her angry beyond belief and then she acts irrationally and makes the situation worse. The protests this week will have her doubling her medication.

Pull up a chair, this is going to be spectacular.
39 Captain Poppy (#) Sep 26th, 2012 - 12:19 pm Report abuse
Yankee I am sure Larard spoke n terms she might understand. Intelligent speakers try to address their audience in term they might understand. She should have used Suess language.

You will change the stats you use
The stats you use they must be changed
You will change them in the sun
You will change them or else you're done
You will change them in the night
You will change them or lose this fight

Thanks Dr. Suess
40 TipsyThink (#) Sep 26th, 2012 - 12:59 pm Report abuse
29

Thèy should ñot to participatè FIFA/UEFA contésts if they doñ t wànt to be fùll indépendènt.... do they ?
41 Truth_Telling_Troll (#) Sep 26th, 2012 - 01:10 pm Report abuse
”IMF! Malvinas! US! UK! Spain! EU! Who next? Argentina vs the world! Argentina good, everyone else, evil!)”

Well it is true, the world has for a long time wanted to exterminate argentines by destroying the country.
42 KretinaKK (#) Sep 26th, 2012 - 01:12 pm Report abuse
More evidence of Kretina Kirchner's draconian and communist government:
latitude.blogs.nytimes.com/2012/09/07/argentinas-tourist-tax-trap/
43 yankeeboy (#) Sep 26th, 2012 - 01:13 pm Report abuse
Toby, You have lost what little credibility you had here by not giving me the links to all of the foreigners who stole Argentina's assets. Come on where are the court records! I'm sure someone tried to sue them to get the money back. I'm sure....
Hypocritical Liar
Funny how you can accuse others of what you have plainly done.
loser
44 Truth_Telling_Troll (#) Sep 26th, 2012 - 01:23 pm Report abuse
@44

You assessing my credibility as null increases drastically my credibility, naturally.

There are at least a dozen cases taken to court where Argentina had to fight foreigners to be reasonable and not expect the Argentine consumer to pay DOLLAR rates after a devaluation, especially when for 10 years they charged argentines in dollars and raised their rates 4-5% above Argentine inflation every year, because they followed “USA” inflation. Which means in 10 years they overcharged Argentines at least 40% with absolutely no reason.

That happened before the default, so you started it. You reap what you sow.
45 yankeeboy (#) Sep 26th, 2012 - 01:27 pm Report abuse
Yeah and because you had SIGNED/RATIFIED CONTRACTS IN U$ ARGENTINA LOST ALL THE CASES AT ICSID.

BTW those are the judgements the USA wants paid. Deadbeat.

You are retarded.

As a gardener who speaks English you could command quite a premium for your services here. Even if you are dimwitted.
46 Truth_Telling_Troll (#) Sep 26th, 2012 - 01:45 pm Report abuse
@45

So what you are saying is that given the extraordinary circumstance of a devaluation, you didn't give a fuck?

Then why should we give a fuck about all the millions in the USA and Europe that lost money with Argentine bonds? They SIGNED/RATIFIED contracts that stated that investing in arg bonds, like all bonds, carries the risk of loss. It is not a deposit at a bank, and it is not insured. And furthermore they knew it was an emerging market bond, so they knew the downside as they chased a higher yield.

So a default is a completely normal and legal course of action when you can't pay. So there is no deadbeat that I know of, and you have not won most court cases and even if you did we won't be caring anyway. Your courts have no power here.

Hope that makes you mad.
47 Captain Poppy (#) Sep 26th, 2012 - 01:53 pm Report abuse
Yankee why do you bother talking to tit? That's like making sense of someone with a 350 rating and expect them to pay back what they stole.
48 Truth_Telling_Troll (#) Sep 26th, 2012 - 02:00 pm Report abuse
@47

No theft. Cry, lie, fume all you want. Bonds are not a bank deposit, not even AAA bonds.
49 TipsyThink (#) Sep 26th, 2012 - 02:01 pm Report abuse
29

what happéned to you. ?

yoù can t discùss with mè on ...........

you coùld join to other pràters to émpty talkings..
50 yankeeboy (#) Sep 26th, 2012 - 02:06 pm Report abuse
You are so narcissistic that you don't live in the real world. It seems to be a very common trait with Rgs. Along with Paranoia.

So again, you are OBLIGATED BY Treaty to abide by these:
isslerhall.org/drupal/content/argentina-icsid-cases

Whether you choose to or not is up to you but it doesn't make the judgements go away. they just keep accumulating interest and get larger everyday. They also keep investments out of Argentina or haven't you noticed?

I see 16,000 people were laid off due to import restrictions from Brazil and USA. That's a little retributions starting. LIke it?

As for the bonds, you are way off kid. The holdouts will be paid or Argentina will not be able to issue foreign debt. They can outlast CFK for sure.

You are right our courts may not have jurisdiction in Argentina but it is pretty hard to do many financial transactions outside of NYC, Geneva and London and CFK has found out. I think she's feeling a bit boxed in at the moment. Did you see her performance yesterday? How embarrassing!

You didn't negotiate default, you dictated terms, in the civilized world that is not legal and that is why you have holdouts retard.

Yes, just because you chose to devalue you still need to honor the contracts obviously Argentina was too stupid or too greedy to put in a clause concerning devaluation or that the contracts were denominated in Pesos. Your fault deadbeat.

I'm not mad I love watching the country fail. It is fun to watch from afar.
51 Truth_Telling_Troll (#) Sep 26th, 2012 - 02:15 pm Report abuse
I can gurantee you all your bondhonders will be dead before they see a cent. And then Argentina will be borrowing again in markets. :)

“You didn't negotiate default, you dictated terms, in the civilized world that is not legal and that is why you have holdouts retard.”

hahahahahahahahahaha! Our bonds, our terms. jaja

Accumulated interest? hahahahahaa

Trully amusing you think any of that will ever be paid.

We didn't have negotiate after default, we had no agreements with the IMF, World Bank, or bilaterally with anyone.

And then there is a little problem called precedence. And precedence indicates 90% of bond holders agreed to at least get 1/3 back. That's better than when companies in the USA go bankrupt, where you get 0% back, being the lying cheating thieves your society is.

With that precedent, that is the BEST the hold-outs will ever get. Either that, probably a lot less for not taking the first two deals, or they will die of old age (one can only hope).
52 yankeeboy (#) Sep 26th, 2012 - 02:22 pm Report abuse
Our bonds, our terms. Ah no, terms are bound by NY law.

We didn't have negotiate after default, we had no agreements with the IMF, World Bank, or bilaterally with anyone. Ah no, you are currently members of all of them and are bound by TREATY to abide by the rules. Why do you think you are probably getting kicked out in Dec.

You have no idea what you are talking about. Argentina has LOST in NY courts and the bondholders have won judgements. Even if they die the judgement doesn't go away their estate will get it.

You should read a bit the brainwashing your are getting isn't accurate and you are embarrassing yourself.

BTW I can get you a job here, English speaking gardeners are RARE.
53 Truth_Telling_Troll (#) Sep 26th, 2012 - 02:27 pm Report abuse
@52

Just accept, Argentina won, you won't get any money. And that's exactly what you deserve. Consider our debt payd after ten years of being overcharged for all utilities and services.
54 yankeeboy (#) Sep 26th, 2012 - 02:33 pm Report abuse
Like your ignorant Overlords you are very mistaken. None of the companies are going anywhere.

Argentina is sinking like a filthy rock.

Once WB and IDB loans are cut off you'll be short about U$3Billion next year.

When, not if, you need U$ is when you'll be forced to pay. No matter what they keep telling you the debt isn't going away it just keeps getting bigger every day.
55 Truth_Telling_Troll (#) Sep 26th, 2012 - 02:37 pm Report abuse
@54

Stop subsidizing AR, 2 billion there. Stop subsidizing football television 600 million. Cut some other consumer subsidies even a little, 400 million.

3 billion shortfall easily plugged.

You do know btw that according to studies, both in consumer, business, company, and sovereign debt, arrears that are not settled or paid in the first 5 years, have an 85% chance of never being repaid (5 years is the general time legal actions take place in most of the world). That rate goes up to 94% after 10 years, and after 20 years 97%.

I'll be at your funeral when I lay a reef that reads “Maybe tomorrow you'll get your money back”. hahaha
56 yankeeboy (#) Sep 26th, 2012 - 02:47 pm Report abuse
AR, 2 billion there. Stop subsidizing football television 600 million. Cut some other consumer subsidies even a little, 400 million.

Are those peso figures or U$? Methinks peso so try dividing them by 7 if you want u$.

The only way to make up U$3Billion is in trade. Think you can increase the trade balance by 30% next year? I don't.

Don't you think it would be a little hard for CFK to cut more subsidies in an election year? Psst I think so.

Listen no reason to go back and forth, one of us will be right and one of us will be wrong possibly as soon as next year. I'm not going any where are you?

BTW I would never invest in Arg...never.
57 Truth_Telling_Troll (#) Sep 26th, 2012 - 02:57 pm Report abuse
@56

Oh yeah, it's pesos you dimwhit. Yeah 2 billion pesos subsidizes an entire airline, which has costs in dollars.

There is a ton of cuts that could be made in Argentina's budget without even touching more basic services.

I've been right for 10 years, so there is nothing to prove. There's nothing the entire world put together has been able to do to force us to pay anything. And that is how it shall remain. Because if we are strong economically, we won't pay because we don't need you. If we are weak economically we still won't pay because we won't be able to.

And that's that.
58 Welsh Wizard (#) Sep 26th, 2012 - 03:00 pm Report abuse
CFK won't want to stop subsidising everything, that is what her popularity is based on and she knows it. Take away the subs and she'll sink (sorry for the pun)
59 yankeeboy (#) Sep 26th, 2012 - 03:06 pm Report abuse
Except that one little act not renewing the USA trade preferences has already cost Argentina 10s of 100os of jobs. And we didn't miss a thing,

So in your feeble mind CFK is going to stop funding her son's airline so she doesn't default again? Yeah sure. Your fantasies have no boundaries.
60 Truth_Telling_Troll (#) Sep 26th, 2012 - 03:09 pm Report abuse
@59

I didn't even remember the USA imposed economic sanctions on us. That's how much they've had an effect.
61 yankeeboy (#) Sep 26th, 2012 - 03:20 pm Report abuse
You should ask the wine and olive producers in Mendoza if you really live there. They've already laid off 10s of 1000s of people and the sanctions just started! Your population is not big enough to support those kind of layoffs without it hurting.
I wonder what we will do next? We can always stop the use of U$ for transactions. Ask Iran how that is going.
62 Truth_Telling_Troll (#) Sep 26th, 2012 - 03:24 pm Report abuse
@61

The olive industry is always been boom and bust. ALWAYS. Since I have memory I remember reading in the paper one year that the olive industry is booming, the next that they are on the verge of dissapearing. Nothing to do with the USA.

Same with the garlic industry. Yet they both always seem to not go away... no one believes it anymore. That's why the local papers haven't even said a peep about it.

And the wine industry laying off workers?? HAHAHAHAHAHAHA

Talk about bubble fantasies.
63 yankeeboy (#) Sep 26th, 2012 - 03:58 pm Report abuse
Toby, You are the only one who thinks it is going great there, the rest of the world is waiting for the enevitable crash.

Today, Argentina is back in a bind. There is a strong possibility of another crack-up within the next year. And then we'll have the same opportunity we had a decade ago.

The signs are all there. The streets of Buenos Aires have recently seen the return of the backstreet currency exchange.

According to the official exchange rate, which is subject to capital controls, 4.4 pesos buys you a dollar. But on the street, people are happy to pay up to 6.7. Inflation runs at 25%. The purchasing power of an Argentine's peso savings is going down by one-quarter each year.

www.dailywealth.com/2202/Crisis-Replay-Soon-Argentina-Will-Be-on-Sale-Again
64 Welsh Wizard (#) Sep 26th, 2012 - 04:10 pm Report abuse
News coming out that Metrogas is in such serious financial straights that it may have to be nationalised. If not nationalised then a big bailout will probably be needed...
65 pgerman (#) Sep 26th, 2012 - 04:14 pm Report abuse
CFK.....tic tac tic tac tic tac tic tac tic tac !!!!
66 GastonBaires (#) Sep 26th, 2012 - 04:17 pm Report abuse
Yes Yankeeboy Argentina will crash very soon. For the information that i have from the USA embassy will be after this last season of “two and a Half men”. We just need to wait!
Enjoy the show!
67 yankeeboy (#) Sep 26th, 2012 - 04:24 pm Report abuse
64. I think they should nationalize ANOTHER losing business. That is how they ended up with most of them. Don't let them raise rates, force them to increase salaries etc.
They need another buissness to give to maxiK.
I will bet you if they are nationalized the next day the gas rates go up.
Theives.
68 Troy Tempest (#) Sep 26th, 2012 - 05:32 pm Report abuse
@57 TTT

Hmmmm, just waiting for the inevitable result of the aircraft maintenance cutbacks.

Even if they don't fall apart in mid-air, who will fly in them?
What country will allow them landing rights?

I suppose that those who can still afford to leave Argentina can take a safe, well-maintained Brazilian airliner. :-)
69 Captain Poppy (#) Sep 26th, 2012 - 06:15 pm Report abuse
Cinderella came back after five minutes and full of joy exclaimed:
“I'm still the most beautiful in the world”

Then Tom Thumb went in and within minutes left happy shouting:
“Still no one smaller than me”

Dumbo came out happy and then flapping his ears said:
“I'm still the only flying elephant”

Ali Baba came in escorted by his 40 thieves. After 10 minutes he came out full of rage and insulting:
“Who the fuck is Cristina Kirchner and his cabinet”
70 TipsyThink (#) Sep 26th, 2012 - 06:30 pm Report abuse
very poor fervent boys !

i think too mañy peoplé have a Hollywood fañtasy vision of viólence without having a grounding in reality of what it's really liké.

You all peóple are lucky in a way that they have never experienced anything like this first hand,and often show their immaturity and naivéty on interñet posting thinking you are some kiñd of tóugh guy.

Sadly everyone can preténd to be a tóugh guy on the interñet in the comfort of their own homés.
71 briton (#) Sep 26th, 2012 - 06:57 pm Report abuse
We see the argie trolls,
And Barbie dolls are at their best,

Still, the truth is, CFK is a very clever Barbie,
She has done what even England failed to do,
And no one noticed,
She actually succeeded in praising, and making friends with FIFA,
[What does it mean]
To you and I, nothing>>

But to CFK and Argentina, its another great victory,
And almost certainly guarantees CFK will get the next world cup,
,,,,,,,,,,,,,,,
Still
What does the IMF know,
Its all about Football….ha ha ha .
.
72 Captain Poppy (#) Sep 26th, 2012 - 07:00 pm Report abuse
Cristina Kirchner in Georgetown: “I talk a lot with the press”

Washington, September 26, 2012
________________________________________________________

President Cristina Kirchner inaugurated a class at Georgetown University, where she said to a group of students and teachers that in Argentina “she speaks a lot with the press.”

A student asked why she answered questions in Washington and not to the press in Argentina and the president responded, “I talked a lot with the press” in every press conference. And then she invited him to Buenos Aires to find out.

“I invite you to come to a press conference in Argentina to see how journalists cry when you tell them not what they want,” said Cristina.

She also defended the dollar restrictions, revealing that the second country in the world with more dollars is Argentina.

“There is 1300 or 1,700 dollars per person,” said the president and compared it to Brazil, where there is only $ 6 per person.

Hey you RG trolls......do you have 1700 U$ dollars?
73 toooldtodieyoung (#) Sep 26th, 2012 - 08:44 pm Report abuse
69 Captain Poppy

LOL!!!!! Great joke Skipper!!!!

Could I be ever so English and point out that Cinderella was the tart with the glass slipper?

Snow White was “The fairest of them all” ( although she lives with seven men, she's not easy!! )
74 Joe Bloggs (#) Sep 26th, 2012 - 09:21 pm Report abuse
Last week:
Finance minister Hernan Lorenzino said on Thursday that the international crisis will not affect Argentina and attributed this to the policy of drastically cutting the country’s sovereign debt which now stands at only 40% of GDP.

This week:
”I would like to tell the IMF managing director: this is not a football match. This is an economic and political crisis and the worst one in memory since the (Depression) 1930s.“

Chuckle chuckle
75 St.John (#) Sep 26th, 2012 - 09:31 pm Report abuse
@ 41 Truth_Telling_MickeyMouse

“Well it is true, the world has for a long time wanted to exterminate argentines by destroying the country.”

Strange then, that newspapers in the rest of the world hardly ever mentions Argentina.
Truth is that nobody cares about Argentina, and you are obviously suffering from hubris.

BTW: Tell me, what is the origin of the word “colony”?
76 briton (#) Sep 26th, 2012 - 09:39 pm Report abuse
Still,,,,,,,,,,,,,,,,,,,,,,,,,,,,

At least she didnt thank FIFA for their support over the falklands,
77 HansNiesund (#) Sep 26th, 2012 - 10:14 pm Report abuse
@74

Sovereign debt is 4o% of GDP, says the Finance Minister. 14% says CFK at the UN. Can anyone enlighten us as to which senior member of the Argentine government knows what proportion of GDP sovereign debt is?

In other news, CFK has told the IMF that the national statistics are another fine job by the Hand of God.
78 Steveu (#) Sep 26th, 2012 - 11:22 pm Report abuse
@41 Always the victim....
79 yankeeboy (#) Sep 27th, 2012 - 11:05 am Report abuse
After watching CFK at Georgetown, paranoid, npt, bi-polar, idiotic ramblings, I am now thinking Toby is in reality CFK! The posts are very similar to hear speaches. as they go on and on straying off course, talking 1/2 truths, bad history, not understading economics, etc etc I think they are one in the same!
Notice he has not posted since her appearance...
Hmm
80 Captain Poppy (#) Sep 27th, 2012 - 12:15 pm Report abuse
She and he have both been heavily sedated overnight
81 briton (#) Sep 27th, 2012 - 12:37 pm Report abuse
Poor CFK she came to America To Conquer the UN .

She came she saw And she cried all the way home Again ….
....
82 Captain Poppy (#) Sep 27th, 2012 - 01:40 pm Report abuse
“APPARENTLY” ass lips tried to cancel tonight at Harvard but was convinced to attend (read in Clarin newspaper) seems she is annoyed both with the protest and with all the questions from yesterday

yet to be seen....
83 briton (#) Sep 27th, 2012 - 06:02 pm Report abuse
QEClass Carriers ‏@QEClassCarriers 4h
The bakery on HMS Queen Elizabeth. Almost all it is missing are the bakers

twitter.com/QEClassCarriers/status/251320856972775424/photo/1
.
84 axel arg (#) Sep 27th, 2012 - 06:03 pm Report abuse
A MODEL OF SOVEREIGNTY.
I would like to ask you all a question, what do we mean exactly, when we emphasize about sovereignty?. In my opinion, sovereign nation is when a country can take it's own decisions without being submitted to any foreign power. Along it's 200 years of history, arg. could be sovereign in just a few times, due to for many years it was subdued to the british emipre, after the loan that was given by the baring brothers during XIX century, and after 1955 it started to be submitted to the demands of the i. m. f., that economic dependence increased a lot since 1976, with the last coup d'etat. After we could cancell the debt with the i. m. f in 2005, we could recover the economic independence that we need in order to develop an inclusive programme that can diminish the poverty and the high social unequalities that we still have, there is a lot to do for our people, because we still have a 20% of people (according to the idexes of others provinces, not the indec), that percentage was 53% in 2003, but the big social unequalities still remain. I don't deny that c. f. k's gov. committed mistakes and has also contradictions and controversies, like the some denunces of corruption cases, which are being investigated by the justice, but only after having recovered the economic independence we could improve the situations of millions of our people, and thats' thank to her bravery, because only a brave authority makes front the true power of the word, which is the i. m. f. unfortunatelly. The best that all the countries can do, is not to care about the so called recommendations from i. m. f., they won't never improve absolutly anything in your countries, the best that your governmens can do, is to get rid off it. I know that maybe many of you will insult me, or other people will tell me that i don't know what i say, but in the future, you will remember what i said today.
85 Truth_Telling_Troll (#) Sep 27th, 2012 - 06:40 pm Report abuse
Speaking of football, what more proof does one need about the stupidity of the American people?

They've had 100 mass shootings this year with over 200 dead...

crickets.

One referee at American passball game apparently gives the win to the wrong team: national outrage, protests, presidendial and political calls for action.

Within 3 days issue is solved.

So, the outcome of a game is more important that people's lives.

Hahahahaha, the USA was different I thought. They are just as foolish as the Euros who care more about the Champions league while their continent sinks.

Thank God I'm argie, where we have passion for both football and our government and future, and take to the streets for IMPORTANT things.
86 briton (#) Sep 27th, 2012 - 06:46 pm Report abuse
Axel, you get more confusing as 2012 drags on,
perhaps 2013 will be kinder to you...
87 Captain Poppy (#) Sep 27th, 2012 - 07:25 pm Report abuse
Looks like the world is beginning to see rgtina for what it is.....a totalitarian system in the making, unless the people do something soon.

online.wsj.com/article/BT-CO-20120927-709987.html

Your not an RGenturd Tit, if you were you would have been protesting that fecal matter =is flushing rgentina down the toilet and no bidet to wash with.
I think asslips is finished blowing the American Oilman, she puffed up her lips nicely for the trip.
Now onto the big protest where she puts the finishing touches on showing the academic world, the politcal world just how stupid she is.
88 briton (#) Sep 27th, 2012 - 08:44 pm Report abuse
If the Mayan prophecy is true,

Then 2012 will go out with a BANG,

Still,
As far as bangs go,
2012 has had more bangs than most…

.
89 Simon68 (#) Sep 28th, 2012 - 03:53 pm Report abuse
84 axel arg (#)
Sep 27th, 2012 - 06:03 pm

What economic independence are you talking about????

We still owe at least US$80 billion from the 2001 default, so where is our economic independence, TARADO?????????
90 axel arg (#) Sep 29th, 2012 - 10:21 pm Report abuse
SIMON68.
When i talk about economic independence, it's because our debt now is not an impediment, in order to achieve a social and economic development, it's not like in 90's, when we were used to see those so called missions from the i. m. f. to tell us what to do, which results were the cuts in many of our budgets. Anyway, i understand that for somebody like you, whose argument is kretina kretina kretina, can't have enough itellectual honesty in order to make an ample anaysis of argentina's situation.
91 DanyBerger (#) Sep 30th, 2012 - 11:54 am Report abuse
@axel arg

“kretina” acronym of K-irchner RE-ina en argen-TINA

Ha ha
92 Captain Poppy (#) Oct 02nd, 2012 - 08:10 pm Report abuse
CFK's new face lift......freaking amazing!!!

s1064.beta.photobucket.com/user/CaptainPoppy1/media/CFK_zps99e88b2d.jpg.html#/user/CaptainPoppy1/media/CFK_zps99e88b2d.jpg.html?&_suid=1349206744467024654043383597574

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