MercoPress. South Atlantic News Agency
Argentine economy expands 9.4% in first half of 2010; inflation fears
Argentina’s GDP expanded 9.4% in the first half of the year compared with the same period in 2009, according to the latest release from the country’s Statistics Institute, Indec. But inflation is becoming a greater challenge as the country moves into presidential electoral year 2011. Read full article
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Disclaimer & comment rulesWow! China and Brazil started cooling their economy when they hit 6.5-7%. This is going to be a hard landing folks.
Sep 20th, 2010 - 03:01 pm - Link - Report abuse 0http://www.mint.com/blog/finance-core/hyperinflation-the-story-of-9-failed-currencies/
sounds very familiar doesn't it? Only $100 peso notes in ATMs what is next $500 peso note next year?
It sound very similar... I lived the Chilean tragedy from 1970-73 with the worst presidential term in our history, when the inflation raised up to over 1.000 % due the bad management of the economy by the Allende's team that made our entirely political, social and economic system collapsed just in three years....Then, it took almost 10 years and a lot of sacrifice to recorver our economy applying the social market capitalism and opening our doors to the world's economy.
Sep 20th, 2010 - 03:23 pm - Link - Report abuse 0Argentina have suffrede the same problem with inflation nearly later then us, due another causes may be, but they have teh experience on it, too.... So take care with it, inflation is the most dangerous tax for the poor people in the country, don´t forget it... It will be better go slower and permanent growth but with controlled inflation that short time boom with uncontrolled inflation.
Don't worry folks.....
Sep 20th, 2010 - 03:45 pm - Link - Report abuse 0All is under control...
We follow the new American Republican Genius: Christine O'Donnell's recipe….
“Picnic” with the witches, mice with human brains and no masturb*****
That will solve all our problems :-)
http://news.yahoo.com/s/yblog_upshot/20100920/el_yblog_upshot/witchcraft-comments-from-past-haunt-christine-odonnell
I wonder what are the causes for Argentina's rather high inflation. Their monetary policy is already rather tight.
Sep 20th, 2010 - 07:43 pm - Link - Report abuse 0SERGIO VEGA:
Sep 20th, 2010 - 07:46 pm - Link - Report abuse 0You should mention that what came after allende's government was a dictatorship that violated humam rigts, and governed your country during 17 years.
Do you justify genocide in order to progress in economic issues?, the true social improvement in chile started in 1990, during democratic times, i admire very much your last president (bachelet).
Regarding our situation, dont we so worryed about it, the inflation level is a problem that musts be solved, but our central balck has enough reserves to paralize any onset in the prize of the dollar, even the most orthodox economists argue that theory, beside we have two rases in our salarys every year, so, the situation is not so grave.
He will not mention that! He agrees with Pin8! No comments!
Sep 20th, 2010 - 10:47 pm - Link - Report abuse 0Not to mention that economic weakness in Chile during Allende's times was caused by, at least in part, by an attempt by *the US* to destabilize the country.
Sep 21st, 2010 - 12:49 am - Link - Report abuse 0That is briefly detailed in here: http://www.hartford-hwp.com/archives/42a/127.html
“ ... we have two rases in our salarys every year, so, the situation is not so grave. ...”
Sep 21st, 2010 - 01:54 am - Link - Report abuse 0??? I think Axel just answered Forgetit87's question !!!
Those raises in salaries might be good for Unions and Government workers but what about the small business owner, maids, taxi drivers, waiters, etc? For egalitarian as Axel wants his country to be he is leaving out a lot of people!
Sep 22nd, 2010 - 01:18 pm - Link - Report abuse 0The country and it''s people are getting poorer everyday they just do feel it yet.
9 fredbdc, you don't know a sh*t about our country. Poorer? Comsuption is raising and that includes food, clothes, mobile phones, notebooks and CARS!!! IGNORANT!
Sep 22nd, 2010 - 06:19 pm - Link - Report abuse 01 current peso = 100,000,000,000 1980 pesos.
Sep 22nd, 2010 - 08:18 pm - Link - Report abuse 0How do you like them apples, gorge?
Jorge, Do you think a cell phone makes you rich? You are 3rd world.
Sep 22nd, 2010 - 08:48 pm - Link - Report abuse 0http://vimeo.com/14966533
FREDBDC:
Sep 22nd, 2010 - 09:53 pm - Link - Report abuse 0How many times will i have to tell you that inflation is a problem that musts be solved, anyway we all have rases, this is why the problem is not so grave.
Regarding the poverty's rate, private analist say that it's 23%, in 2003 it was 53%, meantime, keep on believing whatever you want, if it makes you happy, beside, why dont you worry about your own poverty's rate, in this website you can find an interesting article about it.
Axel, This site rarely has news regarding The USA.
Sep 22nd, 2010 - 10:36 pm - Link - Report abuse 0All I have to say is our high % of unemployment, poverty etc is your low. Any stats you compare we are better off. You can see that my the 250K illegal Argentinians living in Miami. They could tell you why it is much better to live through our bad times rather than your good times.
You and I both know your good times are coming to an end as are our bad times.
Let's talk in another year and see who is better off.
FREDBDC:
Sep 23rd, 2010 - 02:40 pm - Link - Report abuse 0As usuall you comparisons are so ignorant, and have such a bad faith.
No one doubts that the life standart in your country is much better than ours, you can't compare the usa with argentina, mine is a development nation, and yours is the most powerfull of the world, it's expectable that standart of life is much better in the usa.
I know perfectly that in the usa there are planty of argentines who are in an illigal situation, it's obious that many of them dont want to come back, because they dont want to loss all they coud achieve , maybe i would do the same, beside, the trust in our economy will take many years to recover it, i already explained it to you a couple of weeks ago.
On the other hand, any of the catastrophic predictions that i hear since 2003 from those diviners like you, finally happened, beside all of you are so smart, that you could not even to avoid the crash to fall in your country in 2008, however you are very good on giving advices, and criticising the progress of other countrys.
My question is, should i believe in your failed predictions, or should i doubt of them as usuall?, answer me please.
Finally it would be very interesting to know why many american students come to study in our public universitys, i hope that many of them to keep on coming, because it's a proud for us that foreign students value the public sistem of argentina.
I would guess US students are studying Spanish. I know I did while I was there it was like U$100/mo or something like that. So it is cheap and fun for awhile. Since UBA is not recognized outside of Latin American I am sure no one is getting a degree there. It would be worthless in the USA and a complete waste of time.
Sep 23rd, 2010 - 03:06 pm - Link - Report abuse 0You should prepare for a crash and get keep your $ in U$, Euro or Pounds in a safe deposit box. The demise of your economy is eminent, it is just a matter of time. As I said before the economists never anticipated the theft of private savings or the raid of central bank funds, since there is no more hard currency left in Argentina so steal the gov't is printing more pesos. A 60% yoy increase in sales of appliances is telling me that the economy is overheated and ready to tumble. Even the the gov't anticipates the peso at 4.15/U$ by 1/11 that's a 6% depreciation in 4 months! And that is just to keep the economy rocking until the elections. Your country has gone through this before when you were growing up, are you choosing to forget it? Or don't you see the patterns? Or has Argentina fundamentally changed since the 90's? I will tell you it has not and it has only gotten worse. Regardless if you believe me or not I don't care it is you who will be affected not me.
FREDBDC:
Sep 24th, 2010 - 03:43 am - Link - Report abuse 0You are misinformed as usuall, in argentina there are 17000 american people, some of them learn spanish, and others study diferent carrears.
Beside, the uba is the only one argentine university wich joins the group of the best 500 universitys of the world, there are planty of students from diferent countrys, many of them come from bordering nations, and many others from colombia, ecuador, venezuela. spain,etc etc.
Regarding our situation, even the most orthodox economist argue that our central bank has enough reserves to paralize any onset in the prize of the dollar, beside dont wait me to believe you, because like i said before, since 2003 i hear that our country is going to fall again, i ask you again, did it happen finally?.
The diference betwen you and those economists, is that they are respectable people, that's not your case, i have many diferences with them, because they are liberal, and i am leftist, with our comment of yesterday, you confirmed that you are a shit as a person, i dont know what kind of terrible experience you lived here, to wish us to go through a new crisis.
Like i said before, dont sing victory so soon, becaue maybe you lived a new crash in your country before it happens in argentina.
About the dollar, it has enough rases every year, it's necesary becasue we need our pruducts to be more competitive.
Whatever you believe, that's irrelevant, i only believe in the reality,and it does not coincid with your pathetic catastrophic predictions.
I am not sure where you come up with 17000 because I can only confirm 3700 but both are insignificant. The US has over 2MM university students with 300K studying abroad. That doesn't say much about the values of an Argentinian education
Sep 24th, 2010 - 04:01 am - Link - Report abuse 0UBA is the best you have and it's a joke outside of LA. A degree is absolutely worthless from UBA and the only reason I know is because I had to fight to get it recognized by the University my partner ended up going to for a Masters Program.
Believe what you want I don't care, I will wait for the crash and buy the property I want. It will have no effect on my life. Maybe you will be begging in the street with all the children. I really don't care.
FREDBDC:
Sep 24th, 2010 - 07:32 pm - Link - Report abuse 0You can believe whatever you want, like me, that's irrelevant, the most important are the facts, if the uba is a joke outside of argentina, then why does it join the group of the best 500 universitys in the world?, why do we have so many foreing students, if it soposes that a degree is absolutly worthless from the uba?, are all those students so stupid to study at a university wich is a joke outside of the country?.
Regarding our situation, like i said before, you and i can believe whatever we want, but the facts keep on showing that any of the catastrophic predictions that pathetic diviners and seudo economists like you made, never happened, beside dont spit to up, because it can fall into your face, i did it when i was younger, and idiot like you, and finally it fell into my face in a terrible way, no body knows what could happen in the future, 10 years ago surelly you didnt imagen in absolut that you were going to live a crisis in 2009, so dear fred, be smart and dont keep on giving any of your failed predictions, because the reality tells you that are wrong all the time.
Beside, i know perfectly that you dont give a shit about our situation, but what you omit, is that maybe you can finish beggging in the streets too, before it happens to me in argentina, read the article that was publish in this forum, wich is about the unemploitment level in your country, anyway the diference betwen you and i, is that i dont wish for you that kind of future, i am not a shit like you, i only warn you that no one knows what can happen, anyway i understand that surelly your idiot intransigence wont let you recognize that fact.
Naughty words, axel.
Sep 24th, 2010 - 08:00 pm - Link - Report abuse 0Axel, I guess you have never been to the USA but we don't have children begging in the streets or trying to sell us trinkets to us while we eat. So far with all of my travels I have only seen that south of the boarder of the USA and in parts of the far east.
Sep 24th, 2010 - 08:52 pm - Link - Report abuse 0Believe me UBA degrees or any other degree from Argentina are worthless outside of Latin America. Why do you think there are Argentinian Doctors and Engineers gardening and cleaning pools in Miami? Don't you think they would be practicing their profession if they could?
No one knows what the true unemployment and poverty levels are in Argentina. The USA poverty rate is 14.3%, yours even during this so called good economic time is estimated at 25%. That is drastically different. Our un-employment rate is 9.6% and yours is 8.7% not so very different.
I would bet our stats will be getting better in the next 2 years. Do you think yours will be?
USA Family of 4 is considered to be in Poverty make AR$89,000 pesos a year. That would make them very wealthy by Argentinians standards.
@21 fred. Aren't you forgetting that axel and his compatriots get two pay rises a year?
Sep 25th, 2010 - 01:01 pm - Link - Report abuse 0FREDBDC:
Sep 25th, 2010 - 02:38 pm - Link - Report abuse 0As usuall you insist with you ignorant comparisons, and dont know anything about the reasons why we have the serious problems that we still have.
I have no doubt that in your country maybe there are no so many children begging in the streets, and there are no people who are selling trinkets, that's explains why the usa is a developed nation, and argentina is a development country, so, dont keep on being so stupid and ignorant, and dont compare your situation with mine.
About our rates, i told you that i dont belive in our indec, but there are also private analists who i trust, to know about our social, and economic situation.
Poverty's rate: Betwen 23% and 32% for the first semester of 2010 (by private analists).That porcentage was 53% in 2003.
Unemploitment: Betwen 8,3% and 9,5% for the first semester of 2010(by private analists). That porcentage was 22 in 2003.
As you can see there is still a lot to do for our people, but no one can deny that our situation improved so much, like it or not.
Regarding our profesionals who are working in the foreign, you have a reduced knowleadge about our reality, maybe what you say it's true, and there are many profesionals who work in the cleaning service, but you ignore that there are also many argentine scientists who inmigrated to others countrys, because there were no chances in argentina in the past, MOST THEM STUDYED AT OUR PUBLIC UNIVERSITYS, SPECIALLY IN THE UBA.
Beside since 2003 came back to argentina more than 700 scientists, because now they have much more oportunitys to develop their investigations, they recieve full support form the ministery of science and technology, i could know about many of those cases.
On the other hand, maybe in the usa, the degrees from the uba are not so important, but the usa is not the only one country that exists in the world, dont you wonder why there are so many students from the foreign who study in the country?.
700 scientists in 7 years doesn't sound like a very successful program the pay scale must be pretty low. Since patents and private property rights are not respected in Argentina I can't imagine a scientist with talent or drive would stay there.
Sep 25th, 2010 - 09:27 pm - Link - Report abuse 0For the size of your population you have very few foreign students and they are mainly from Spanish speaking countries.. There are only 3600 USA students in Argentina out of a total of 700000 studying outside of the USA. That's 1/2 of 1 %! Again, I would image most of them are studying Spanish so they can speak to their maids when they get home.
As for degrees from UBA, I am sure they are better than ones from Paraguay or Bolivia but that is not saying much is it?
FREDBDC:
Sep 26th, 2010 - 01:04 am - Link - Report abuse 0Like i said before, you and i have right to believe whatever we want, that's irrelevant, but what really matters are the facts.
You can keep on slandering, or undrestimating my country all the times you wish, that wont impide that we keep on progressing, in spite of the serious problems that we still have.
Regarding the american students who live here, i already told you what most them study, and about all the rest of foreign students, i told you too where most them come from, meantime, you will always have right to create your fancy world, maybe ignoring the reality could be a choice for living for you.
Regarding our scientists, are they so stupid, that they are going to come back to a country where there are not oportunitys, most them where living in countrys from the first world, and where very prestigious, beside, like io said before, most them studyed at our public universitys, there you have the soposed worthless degrees from the uba.
Beside, what is wrong, if most our foreign students come from speaking spanish countrys?, what is the diference betwen them and the american, and the europeans?.
Well if it is only 700 scientists in 7 years I would guess those are the dumb or lazy ones that couldn't make it in the 1st world.
Sep 26th, 2010 - 09:31 am - Link - Report abuse 0Show me where you are getting your facts on USA students in Argentina because I think you are wrong. These are the only ones I have found http://opendoors.iienetwork.org/?p=131592
What is wrong with most of the students being from Spanish speaking counties, it shows that they are coming from countries worse than Argentina, such as Bolivia, Paraguay, Venezuela, Ecuador that probably can't get into school in the USA, can't afford it or can't get a visa. Also show me a link to what you think the USA students are studying, are they are on track for a degree or just learning Spanish and drinking for a semester? In 5 years living in BA I never met an American student in a degree program in Argentina. It would be a waste of time. Why would someone choose to go to a bad University that is not accredited where they live? Free or not you are wasting your time and getting a worthless piece of paper.
Since I know you can't afford to travel to the USA why don't you do some online campus tours and see what nice, good Universities are supposed to look like. I spent a lot of time hanging out at at UBA and for being the “best” one in the country it is really run down and disgusting. No doors on the bathrooms, no toilet paper, graffiti everywhere, walls falling down exposed electrical wiring, roofs leaking etc. It is really bad.
http://opendoors.iienetwork.org/?p=131592
FREDBDC:
Sep 27th, 2010 - 01:21 am - Link - Report abuse 0If education sistem in ecuador, bolivia, paraguay, ect is worst than in argentina, that's not relevant for us, the point is that many of them come to study to our public universitys because they can get a good degree, they are not idiot , they are not going to waste their time, studing at a university wich tittle is not going to worth in their countrys dont you think?.
In fact, last night at the disco, i met a great friend of mine, who is civil engineer, he works as a profesor at the university of engineering from la plata, he told me that there are planty of foreign students, specially from peru, and i knew in many oportunitys at the disco, or at others places, many people who are foreign, and study at the uba.
On the other, you insist on comparing your situation with mine, i am sure that the level of the universitys at the usa, is much higher than ours, that's one more explanation about why the usa is a developed nation, and argentina is a development country, dont keep on making ignorant and meaningless comparisons.
Anyway you are right regarding the state of our universitys, i think it's shamefull, but the most important is the academic level, and that's very worthy, ask your self why, the uba is the only one argentine university, wich joins the group of the best 500 universitys of the world.
Regarding outr scientists, i already told you that a lot of them were working at countrys of the first world, and most them studyed at public univeritys, you can speculate whatever you want, but that's the reality, i could know many about those cases, that's a good explanation abut the soposed worthless degree from our public universitys.
Axel, It is so frustrating trying to explain something to you. I hope it is your English level and not your utter stupidity. Our discussion has been centered around USA students studying in Argentina with my denying it. I agree that you may have foreign students from Latin American but not from developed countries. And in your last post you proved my point. Of course you will get upper middle class students from Latin America as foreign students, there is no language barrier and it is very cheap to study in Argentina. I am sure they would rather study in the USA but for various reasons can't. I don't know what you don't understand?
Sep 27th, 2010 - 12:03 pm - Link - Report abuse 0FREDBDC:
Sep 27th, 2010 - 04:52 pm - Link - Report abuse 0What you dont want to understand, is that not all american students are just studing spanish at the uba, i recognize that most then are studing our language, but some of them study others carrear, i could know about diferent cases.
Beside, in my comment i just wanted to refute about your assertion regarding the soposed worthless degrees from the uba, i already explained you why.
With over 300K USA students studying abroad, statistically you have to have a few at UBA. There is a huge difference attending a semester and working towards a degree, can you find me how many USA students are in Argentina obtaining a degree? I would be surprised if there are more than 5. I would find it very hard to believe someone from a developed country would go to an undeveloped country to increase their knowledge. We have computer/electronics here that you may never have available in Argentina.
Sep 27th, 2010 - 09:28 pm - Link - Report abuse 0what a sad little man you are fredbdc: I can resume all this shit you've talking about saying that Argentina is better now than when you came and lived here.
Sep 28th, 2010 - 07:40 am - Link - Report abuse 0Uba was the 1st latinamerican university and it's on the list of the most important universities of the world followed by universidade de sao paulo (Brasil).
There're scientists, and doctors and professors working in universities of United states (most of them have studied in UBA,) that may explain that harvard is a club of fools if they hire Argentine professors whose have studied in public univ. isn't it?
I don't know what do you have against my country, a heartbroken that let you ill-feelings?, bad experiences? i don't really care but you're so stubborn that it's disgusting.
We have flaws but we've improved a lot, i reckon there's a long way to go...but the important thing is that we are on track now, if you like it good for you if not... it's just the same for us
Elian: Why don't you explain the structural changes Argentina has made to it's economy and society that is guaranteeing that you “stay on the right track”. I am sure you can't because you have not made any. Your gov't defaulted and stole 100's of BILLIONS of U$ from private (domestic and international) investors and has flooded the economy with the cash. Of course you can see increased consumerism, the gov't is pumping the economy with pesos! Well now the peso is worth less, inflation is very high and you are less productive then you were in the 80s. How is that better? Do you think it can last? If so how long? Maybe just long enough to get another K elected? Then what?
Sep 28th, 2010 - 12:50 pm - Link - Report abuse 0I think your county is beautiful, it is too bad it is full of a bunch of lazy corrupt people who don't care about heir future and only want to live for the day.
FREDBDC:
Sep 28th, 2010 - 01:15 pm - Link - Report abuse 0You are misinformed as usuall, our piupirls from secondary sector, who go to public schools, are recieving a netbook from the government, because they must be better prepared if they want to go to the university, beside the budget for education represents this year 6 points of the gdp, and for next year, it's forescasted the same porcentage, there is a lot to do to improve our public sistem.
Regarding your compatriots, i recognize that most the are just studing our language, but some others are studing others carrear, i already told you that i could know about diferent cases, beside what i really wanted, was to refute your ignorant assertion and bad faith, when you refer the soposed worthless degrees from the uba, i already explained you why.
Axel; Don't you think a safe heated school is more important than a netbook? BTW nobody is buying netbooks here, they are out of date and given away free with e mobile phone contract. You are 3-4 year behind the technology curve.
Sep 28th, 2010 - 01:22 pm - Link - Report abuse 0Please give me a a link as to how many USA students are in degree programs at UBA, just because you think it doesn't make it so.
FREDBDC:
Sep 28th, 2010 - 03:59 pm - Link - Report abuse 0I really can't believe that you insist on comparing your situation with mine, i alredy explained to you ten times that it's expectable that the education sistem and technology in your country is much better than ours, ¿why do you insist with those meaningless comparisons, please?. this is the last time i tell it to you, your country is developed, it's the most important nation in the world, it's obvious that in every aspect the usa has better levels than argentina.
My country is a development nation, where there was a great improvement in the social and economic levels, but we are still a very unequal society, ¿can you understand this dear fred, o i will have to repeat it?.
I agree absolutly that a safe school is more important than a netbook, this is why the budget for education represents now 6 % of the gdp, and there is still a lot to do to improve our sitem, because it suffered decades of abandon.
There are many schools that are being through improvements in their buildings, but is still so much to do.
Regarding the usa students, i dont have any link to provide, but i already told you that i could about diferent cases, you can believe me or not, that's irrelevant.
Axel: You are the one who brought up the netbooks as an example of how advanced your schools were becoming. I just pointed out that as advanced as you think you are you are 3-5 yrs behind the rest of the world. Now that the peso is 4/1U$ it is very expensive to purchase electronics or travel outside of Argentina so I understand why you don't know any better.
Sep 29th, 2010 - 10:04 am - Link - Report abuse 0You stated you KNOW there are USA students in degree programs at UBA, if you can't prove it I must assume there are none. Every university in the USA can tell you what country their foreign students originate. I would assume UBA keeps track of them too.
FREDBDC:
Sep 29th, 2010 - 09:39 pm - Link - Report abuse 0Last year it was approved a new law, to promote the fabrication of electronic products in tierra del fuego, products like, netbooks, celulars, splits, etc, very soon we wont need to import those productions.
Tierra del fuego used to be a great electronic centre during the 80, it was a very prosperous province, but all that prosperity was desmantled last decade, you must gues by who.
Regarding the technology in your country, i already said that it's expectable that you are more advanced that us.
About the usa students, i have nothing more to add, i already said all i know, i didnt get into any website from the uba to know how many usa students are studing in degree programs, you can do it if you are interested. Beside i only told you that could know about diferent cases.
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