MercoPress. South Atlantic News Agency
CFK begins her second mandate with the budget and energy bill in the red
Cristina Fernandez takes the re-election oath on Saturday with government accounts and the energy bill in red, which contrasts with the surplus condition enjoyed by Argentina when she first took office four years ago. Read full article
Comments
Disclaimer & comment rulesNot yet paid back a defaulted debt, running a deficit (especially on energy) and interest rate of 7% and rampant inflation.
Dec 07th, 2011 - 06:57 am - Link - Report abuse 0Sounds like Argentina is finished?
BEEF you are clearly a serious economic guru.Imagine.if La Nacion.is correct for a.moment which it isnt but we will imagine it to satisfy your little illusions.It claims as a worst caee scenario a deficit of 2;65% of gdp.HOW ANY EUROPEAN COUNTRY WOULD LOVE INCLUDING ENGLAND(its about four times that)TO HAVE SUCH A SMALL DEFICIT..
Dec 07th, 2011 - 08:29 am - Link - Report abuse 0Dream on poor boy Argentina will grow in 2012 by at least 4,5% while you poor people and me return to anever ending grinding miserable austerity
ou poor people fall back into another grinding
OGara - Yes I guess my PhD in Health Economics does give me a reasonable background in economics.
Dec 07th, 2011 - 09:36 am - Link - Report abuse 0Ask yourself this question. Why is the UK still AAA rated. hmmmm
Could it be that our owned (and valued) assets outweigh our deficit and debt?
Let us look at the actual growth from nominal GDP for Argentina and the UK and suppose a growth for Argentina of 4.5% and the UK of 0.9% (downgraded to this at the Autumn statement).
Arg - 435.2b x 0.045 = 19584000000
UK - 2.480t x 0.009 = 22320000000
That mean that the UK will grow a total of $2736000000 more than Argentina (and that is before we have to make adjustments fro inflation which is a dirty word in Argentina).
Go back to bed O gara or at least start to think before your put your name to such pathetic arguments.
Oooh! Oooh! Oooh! Another red-hot nail in the coffin?
Dec 07th, 2011 - 09:42 am - Link - Report abuse 0@ 4 in your dreams, chilean mickey mouse :)
Dec 07th, 2011 - 09:59 am - Link - Report abuse 0I think Argentina has a very bright future ... but, NOT under this management. Time for the adults to take over (if there are any left) and have this self-adoring lady step aside. Although, based on recent elections, the Argentinean public apparently sees that differently. I see CFK as an unfortunate blending of Peronist, Fascist, Socialist and False God. Good Luck, my Argentinean freinds.
Dec 07th, 2011 - 10:07 am - Link - Report abuse 0@6 1/3 of the voting public (about 10m) voted for CFK. 1/3 did not bother to vote and 1/3 voted for anyone but her. The reason for the apathy given by many Argentines is that there simply was not a reasonable opposition or that CFK is corrupt but so is everyone else in Argentine politics. Not much of a choice.
Dec 07th, 2011 - 11:23 am - Link - Report abuse 0@3 Something some Argentine posters here cannot grasp is the difference between a developed economy and one that is attempting to develop but has the reputation of a bad debtor. You explain it so well.
And guess what, the devulation of the peso will only increase the deficit as it will become more expensive to pay back foreign debts and purchase imports too. Oh just how blind are the mindless argentina bloggers are on here. They buy their food knowing full well the prices have increased significantly over the last year or 2, yet they are still in full denial that their economic bubble is springing leaks and about to burst.
Dec 07th, 2011 - 11:24 am - Link - Report abuse 0By the way devaluation of currency also causes inflation to increase, so though it maybe 30% annually by the end of this year i expect it to sky rocket by the end of 2012 to at least 37 -38%. As the higher inflation gets the more out of control it gets, and the more out of control it gets the it increases at a faster rate.
#6 you might be right in one thing, there are no adults left in Argentina, This is why they elected the only adult in Argentina CFK, in four years you will have another chance to change presidents but untill then why don't you try to find a honest Argentine politician to become president, rather then waste your time trashing your bad luck on others, you know what they say! if you can't beat them! join them! I guess you will sit here and cry untill next elections waiting for us to tell you again to groom other leaders as I am telling you now, by then it will be too late and you might end up here again with CFK as your elected president, you might want to start looking now in the endangered species list if there is a honest Argentine politician that is a good place to start looking, good luck ! seems like you are going to need it more then the rest of Argentines who did elected the right leader, last year there was at least 30.000.000 Argentine looking for an alternative and ended up with CFK, you can always find friends of Menem, Galtieri or videla still walking the halls of casa rosada, only if that could actually be considered an option, your lack of understanding of politics leaves my bad spelling and grammar in the dust.
Dec 07th, 2011 - 11:40 am - Link - Report abuse 0#3 if you are not here to help, you are getting in the way of progress, you would think europids would have better things to do with their time then trolling in a banana nation news blog, unless you want to push the word looser to a new level, are you sure the office said PHD and not HIV ???
Pirat - HIV is tested via blood test and not a two hour viva voce. Your comment is deeply offensive to those who suffer HIV often through no fault than they happened to be born from a mother who happens to have been infected.
Dec 07th, 2011 - 12:54 pm - Link - Report abuse 0I guess this speaks volumes about your integrity.
@5 No dreams - reality! What does that make you, then - Tribilin Colorado or Pepe Farsante?
Dec 07th, 2011 - 02:08 pm - Link - Report abuse 0Like China, Argentina's growth has given it stability. Both have a pact with the population, give us growth, put $ in our pockets and we will let you stay in power. When growth slows you will see the pact begin to fly apart, 100s of protests in China daily, union wage demands starting to surface in Arg. It is all about to unravel and there is not much CFK will be able to do about it. The only $ left in the system is Union dues and their insurance. I give it until March until it's in her pockets.
Dec 07th, 2011 - 08:55 pm - Link - Report abuse 0In 2012 4.5% grown but 20% inflation and a peso around 6 is not going to make many people happy. How many months does a typical RG have to work for an ipad, median professional monthly wage Arg $3300 ipad about $10,600 pesos, right now you have to work 3 months to buy an ipad at 4.5 pesos but at 6/1 you have to work 4.5! That is a big difference and shortly you will know the pain.
@ 12 I couldn't agree more with you.
Dec 07th, 2011 - 09:01 pm - Link - Report abuse 0Yankee, X-box - do you want me to buy you both an iPad for Christmas?
Dec 07th, 2011 - 10:49 pm - Link - Report abuse 0If you want an iPad then I suggest sticking some money in RKH as we should have the results of the final appraisal drill soon and if it comes in then you will be able to grab yourself an iPad with the profits. if it doesn't come in then we are due an upgrade after the 14/10-09 result so you will still make a tidy sum.
You know it makes sense.
3 beef really they are throwing around qualifications in England these days but EDUCATION NOW SORRY THAT YOU DONT HAVE.
Dec 07th, 2011 - 10:56 pm - Link - Report abuse 0As for poor old pobrecita she will surely convince herself soon with her pathetic attempt at statistics that only Santa Cruz voted for Cristrina and really 96,4567893245% didnt really want her.
She will also convince herself as England heads to the dungheap that really it will grow 3,245785649875% next year.
She will even convince herself that Beef is an economic genius who cant get any books on Calle Corrientes
Enjoy the delusion must be wonderful on whatever you guys are on
@ 14 hahaha ok, but my family has done that already, I mean sticking some money in RKH, I think I've said it before? =P
Dec 07th, 2011 - 11:13 pm - Link - Report abuse 0Xbox - welcome on board, there are some great financial apps for the iPad as well, I like the shareprice app as it allows you access to live prices and has the iii discussion feeding straight into it (good for a slow day inthe ivory tower).
Dec 07th, 2011 - 11:50 pm - Link - Report abuse 0OGara - whatever that incoherent string of words is, I am sure you meant well. I see you haven't been able to challenge the figures above which are based on openly accessible data and the growth forecasts? If you can't bother to bring something constuctive to the debate then don't bother.
Regarding UK Higher Education, you will find that the UK is the destination of choice for those academically capable, and they pay a fine some for te privilege of being selected. Hmm looking forward to supervising those Brazilian scholarship students next academic year.
Beef your figures are of course pie in the sky.According to the CIA factbook The English economy is as you say PPP 2,48 trillion in 2010.Argentinas on the other hand is PPP 0,596 trillion.Growth in 2010 in the England will be stagnation more or less while Argentina will grow over 8% reaching 0,643 trillion.
Dec 08th, 2011 - 10:13 pm - Link - Report abuse 0So if the UK grows 0,9%(very optimistic)it will just surpass 2,5 trillion while Argentina with a (very pessimistic)4,5% will reach 0.6719.
If as you say you have a degree in health economics and cannot see the incongruity of your statement on rampant inflation and interest rates of 7% it truly is no wonder Europe is on its knees.
As for the merits of English education(highly dubious if you are telling the truth)could I be so bold to suggest that they really should help their third level students in spelling.It makes your arguments clear if not coherent.
Finally dont adopt the holier than thou English attitude of telling me what you find constructive, I will take part in whatever debate I wish to.
I hear fishing in the Antartic brings exellent income in tax revenues. and the europeans love fish. Greece will surely enjoy the competition in prices and variety of taste in the food basket. it might be too early to say but I hear EU economy is falling apart, the echos “we are working hard to keep the EU together” where heard from most member, in some extremes cases words like “desintegration” and “collapse” where used to desctrive the situation, I doubt anything better could be expected from Argentina when Argentina natural wealth was supported by the same regime that dictates EU laws, just follow the money. red books are good it keeps pirats and thieves away, if you don't believe me look at Libya and Iraq today.
Dec 10th, 2011 - 03:33 am - Link - Report abuse 0Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!