MercoPress. South Atlantic News Agency
Argentina rams ahead with imports rules: “it is understandable people are upset”
The Argentine government ratified it won’t postpone the new legislation on imports as requested by local business leaders and minimized the current conflict with Brazilian industrialists who have bitterly complained about the new restrictions. Read full article
Comments
Disclaimer & comment rules2011 trade surplus was 10B, which puts Argentina on the cusp of collapse. Higher fuel prices, lower soy prices/crop, slowing car exports is having a dramatic affect on their currency exchange. CFK and her minions are going to do everything in their power to keep the trade balance positive. If it goes below 6B there will be a total system collapse.
Jan 24th, 2012 - 01:12 pm - Link - Report abuse 0I think they want the GDP to slow to under 3.7% so that they don't have to pay their GDP growth linked bonds. It will save them some cash so slowing consumer demand through import restriction is deliberate but they probably don't realize that price increases for the remaining goods is inevitable.
They're starting to drop all the balls they have been juggling.
It should be fun to watch.
Wow, an american preoccupied with other countries' economic conditions and “waiting for the fun to watch”.
Jan 24th, 2012 - 06:32 pm - Link - Report abuse 0I guess he's a 1% up in the former land of opportunity. A country that was 52% of world gdp in 1955, now down to 19%. Heck of a decline...
In the early twentieth century Argentina was a land full of promise and wealth. There was a genuine speculation about whether Argentina or the US would be the next economic power. We know how that turned out.
Jan 24th, 2012 - 06:48 pm - Link - Report abuse 0Argentina will never be anything until it ditches the current government, moves into the 21st century and establishes a land without renowned corruption; where people can trust the government will not suppress the media, the right to protest and question the government, and a government that has long-term policies rather than the fire-fighting short-term mess it inflicts on the good people of Argentina. No one trusts Argentina, not even its close neighbours, and that will hinder any chance of it becoming a developed country.
2.
Jan 24th, 2012 - 07:12 pm - Link - Report abuse 0That's one skewed stat you have there....
1955 was right after ww2 and the USA was not invaded. So yeah we had a good % of the worlds GDP. We were supplying the world with food and Mfg goods while they rebuilt their country.
Nice try though...
Yeah I watch Argentina, the USA is a garden of Eden compared to that den of snakes. So I find it fascinating.
yankee boy, you fell for my little trap.
Jan 24th, 2012 - 07:48 pm - Link - Report abuse 0It's a similar case for Argentina, though I will be the first to admit that half of the equation has been Argentina under-performing.
But many here like to talk about how Argentina slipped from 6th largest economy back in 192-oblivion, and it's all its fault... Well, back then there were only about 60 countries on the planet... And Asia and Latin America ex-Argentina were dirt poor, Europe including Scadinavia was in shambles from wars and crisis (except the UK, and France somewhat), and the Arab nations had no oil income. Little “island” countries had no offsore banking economies, etc, etc, etc. And Argentina never had a population “boom” of massive birth rates like Mexico, Brazil, India, Nigeria, Iran, Congo, Pakistan, Indonesia, Colombia, all which have had surging populations which creates by default larger economies independent of policies.
Just some perspective that “rankings” can be deceptive. That was my point for bringing the 52% gdp USA figure. Of course I know that back then, there was no Japan, China, Brazil, and Europe was destroyed, so there was statistical anomalies.
Stats in general can be deceptive but the picture as a whole is telling. And the picture isn't very pretty. It takes the median income of a family, 3 1/2 months to buy and ipad. This takes technology out of the reach of most families. Access to less and less technology is only going make the productivity per person keep sliding and it going to be worse in the coming years not better.
Jan 24th, 2012 - 08:25 pm - Link - Report abuse 0It is the story of that country and wholly due to the malicious destruction of wealth by poor governments. It is only going to get worse as they continue to move down the GDP rankings.
yankeeboy you seem a problematic personality??
Jan 24th, 2012 - 10:53 pm - Link - Report abuse 0Argentina GDP per capita is going up not down. and also Human Development Index in 2011 Argentina was in the developed category.
really i don't understand why you want Argentina to fail so much. ok nobody is perfect i know, Argentina is not like North Europe of-course. but i think they can pass Portugal and maybe someday have the same GDP per capita with Italy.
Be happy :)
You think you are going to move from #51 and pass #29 Italy, I want whatever you are smoking! Care to tell me how? hahahaha That is absolutely never going to happen. Plus I wouldn't say Italy, Portugal or Spain are countries you should aspire to....hahhahahaha
Jan 24th, 2012 - 11:23 pm - Link - Report abuse 0Thanks you made my night!
This taxes are a great move for Argentina I would hope the tax for gas climbs to over 25% like in canada and the tax for minerals go as high as 30% way below Australia and Canada, anything below that is theft of resources by outsiders.
Jan 25th, 2012 - 01:11 am - Link - Report abuse 0Sure yankeeboy, anything can happen.
Jan 25th, 2012 - 09:46 am - Link - Report abuse 0http://en.wikipedia.org/wiki/Economic_history_of_Argentina#Post-Peron_era_and_the_1960s
click the image.
“ The UN has said since a long time ago that the self-determination doesn´t apply to this case . . . ” johnfarrel2050 (#13)
Jan 25th, 2012 - 10:25 am - Link - Report abuse 0This is amazing - the only historically settled place in the world that the UN agrees should not have self-determination!
I wonder if the United Nations have told their own (South American) UN C24 Committee that their work to change the status of TFI is 'off limits', and that the TFI must become part of Greater Argentina?
More amazing is that 'john farrell' actually believes this!
Come on, guys. Can't you see a wind-up from this unconvincing troll.
Poor Yankee he is such a bitter little man.Id say he was never past Norwich.
Jan 25th, 2012 - 01:38 pm - Link - Report abuse 0The notion that one would want to live in the North of England rather than Ital;y,Spain or Portugal well I really dont need to say any more about this poor sad pelotudo.
Hes been telling us for over a year now Argentina is going to collapse NEXT WEEK NEXT WEEK ITS FU..ED.
From now on I will refer to this poor imbecile as WOLF hes cried it so often.keep it up Wolfie youll get it right in 15 or 20 years sometime just once just once in a very blue moon youll get it right.
Meanwhile in the real World Argentina grew 9,2% whereas in old England its fell 0,2% in the last quarter.If its fell in London you can imagine the scene where he is.
GeoffWard2 the Malvinas are not a historically settled place.There were no native people.They were taken over by the most horrible evil empire in history who used its oldest tactic of sending the badly treated local plebs to inhabit illegally other lands.That is called Colonialism nothing more or less
12. You are mistaken I have never given a timetable I only said soon. And soon is sooner than you want to believe.
Jan 25th, 2012 - 01:53 pm - Link - Report abuse 0You think Arg actually grew at 9%, and you think inflation matches that at 9%, what if both were inversely incorrect? Inflation 30% and growth 3-4%? Which is much closer to reality.
If Argentina was actually growing you would have Foreign investment like Brazil, Chile or Peru, you have none, well not none but practically speaking NONE.
If Argentina were actually growing you would not have had an 80 BILLION Peso deficit this year. ( NOT INCLUDING STOLEN ANSES CONTRIBUTIONS OF COURSE)
If Argentina were actually growing your government would not be restricting imports.
If Argentina were actually growing the Peso would not be declining,
If Argentina were actually growing BCRA wouldn't have to spend precious reserves to try to smooth the Peso deceleration. ( U$400 MILLION LAST WEEK 100 MILLION MON TUES THIS WEEK)
I can go on and on little man...you are doomed and you don't even realize it yet...sad sad sad it seems you are as nuts as CFK and that is saying a LOT.
What's with the hate for yankee?
Jan 25th, 2012 - 02:10 pm - Link - Report abuse 0YB is one of the few who makes reasoned comments; brings to light other factors that aren't immeadiately visible and stays on topic.
And glossing over the second world war as 'a statistical anomaly' is rather narrow sighted when talking about global economy.
When the members of the CFK fan club cannot make a reasoned argument they resort to personal insults. Attack the messenger and try to undermine their credibility. It doesn't work, it just proves they feel unnerved by the message.
Jan 25th, 2012 - 04:01 pm - Link - Report abuse 013/14The reason for the attack on Yankee is because he has been predicting Argentinas collapse since he arrived on the board.
Jan 25th, 2012 - 06:51 pm - Link - Report abuse 0He cant recognize growth being growth.Argentinas growth of 9% is indeed real all you have to see is the massive increase in car production,car sales and indeed the massive growth of autoparts not to mention agri exports,wine,bio diesel,tourism, mining.show me the reality Yankee where any of these industries in actual fact grew at the 3% you rattle on about.
Argentina doesnt have the same interest in foreign golondrina investment having learned a sad lesson 98-02.
15 When English ladies cant put up a reasoned argument they move into daydream territory imagining empty bookshops in Corrientes or imagine friends in Argentina who cant find malbec,or beef or even a good Pizza
@16 quod erat demonstrandum.
Jan 25th, 2012 - 07:06 pm - Link - Report abuse 0I don't want to waste too much time but here are a few quotes in Spanish:
Jan 25th, 2012 - 07:06 pm - Link - Report abuse 0De las estadísticas oficiales surge que en forma casi ininterrumpida mes a mes la actividad fabril fue disminuyendo . Arrancó en enero con un 10,3% respecto a fines de 2009 (un año de crisis) y concluyó en diciembre con un 1,4% por encima de igual mes de 2010.
Un ejemplo fue el sector más dinámico, el automotor, que siguió liderando el ranking de producción y finalizó el año pasado con una suba del 13,1% cuando venía creciendo a más del 20% anual.
En particular, diciembre fue un mes negativo para los autos porque por el parate de las ventas a Brasil y la falta de algunos insumos importados, la producción retrocedió un 20,8% respecto de igual mes de 2010.
I kept them in Spanish for you, even though you swear to be Irish your English is very hard to understand...
Facts yankee not quotes from Clarin.In 2010 Argentina produced 716540 cars this increased in 2011 to 828771 an increase in ACTUAL PRODUCTION of over 15%,
Jan 25th, 2012 - 07:19 pm - Link - Report abuse 0In 2010 Argentina exported 447,953 cars in 2011 that figure was 506715 again an increase of around 15%.
In 2010 Car sales was 652402 in Argentina in 2011 sales increased by 30% to 846790 a record.
these figures are from ADEFA the car producers association.
Hard Facts not quotes from an organization totally opposed to the goverment.
Gracias querido por su gentilleza de escribir en Castellano.la verdad es mucho mejor que tu Ingles.Quizas sos un Hispano en drag
Oh yeah, I forgot Clarin and LaNacion lies . BTW what was the Dec/10 and Dec/11 figure for car production and exports? Was that down 20% on a month to month comparison or did I misread something?
Jan 25th, 2012 - 07:41 pm - Link - Report abuse 0Listen with regard to trends in reality you need a period of at leat six months.If you want to play silly buggers sales in the first 2 weeks of January are 4% up on jan 2011 which was an all time record
Jan 25th, 2012 - 09:15 pm - Link - Report abuse 0You come up with comments anybody can make I speak of reality.
Wine exports in the year 2011 exceeded a billion dollars for the first time ever growing over 20% year on year while nearly every other major producer was in decline.
So 2 weeks in January is OK, that's a trend, but comparing the same month 1 year later isn't?
Jan 26th, 2012 - 01:51 am - Link - Report abuse 0You are a clown.
Sorry yankee I didnt realize it until now you are. illiterate.Sorry pal I didnt know you cant understand English.Tell us do you have another tongue or is it your iq is that bad.Either way try and get help.
Jan 26th, 2012 - 07:50 am - Link - Report abuse 0Maybe you should re-read your post. One of us is not a native English speaker and I wonder which one it is?
Jan 26th, 2012 - 01:07 pm - Link - Report abuse 0Since my IQ is obviously well under yours please explain to me how the Peso is $4.85 (gray mkt) after BCRA has spent over 2B supporting it in the last couple of months?
Also how do they plan to make up those funds when tax revenue will be so low this year? Soy down 8% yoy and a 30-40% less crop...where oh where is the tax gonna come from? All the software Argentina exports? hahahaha
I HAVE BEEN READING THE VARIETY OF POSTS OVER THE PAST COUPLE OF DAYS AND I TEND TO BELIEVE MOST OF WHAT YANKEE BOY HAS WRITTEN. I HAVE BEEN LIVING HERE ALMOST 10 YEARS AND THE COUNTRY UNDER THE KIRSCHNERS HAS BEEN DETERIORATING RAPIDLY. UNDER THE LEADERSHIP OF “LA REINA KRISTINA”, A MIS-NOMER FOR SURE, WE ARE HEADING FOR DISASTER. NOW THAT THE GOVERNMENT SUBSIDIES ON ELECTRIC, GAS, WATER AND PUBLIC TRANSPORTATION HAVE BEEN REMOVED ALL UTILITIES WILL RISE A MINIMUM OF 30%, BUS AND SUBWAY 100%. ADDITIONALLY, ANYONE WRITING OR PUBLICALLY DISPUTING THE INFLATION RATE PUBLISHED BY “INDEC” IS FINED $125,000USD FOR DOING SO! A “RAW” CHICKEN HAS BECOME A LUXURY, WITH SUPERMARKETS CHANGING PRICES UPWARD DAILY! WHY SHOULD AN IPOD SHUFFLE COST $49usd IN THE U.S. AND $250.00USD HERE? IMPORTS ON IPHONES HAVE BEEN BANNED AS WELL AS SPARE AUTO PARTS AS IN THE CASE OF FIAT. THE ONLY WAY TO EARN A DECENT WAGE IS TO WORK IN A UNION BACKED JOB. PROFESSIONALS EARN AT THE LOWEST LEVEL. MY PORTER EARNS DOUBLE WHAT I DO AS A LAWYER AND GETS FREE HOUSING,,,,,,,,,THE NEWLY PLACED CONTROLS ON CHANGING PESOS INTO DOLLARS HAS HAD A SERIOUS IMPACT ON FOREIGN TRAVEL, ESPECIALLY TO URUGUAY WHERE IT HAS FALLEN THIS SEASON BY 30-40%. I FOR ONE AM JUMPING SHIP AND RETURNING TO THE U.S. IN A COUNTRY WHERE MORTGAGES ARE VIRTUALLY IMPOSSIBLE TO GET WHAT HOPE IS THER FOR THE YOUNG WORKERS TO BUY A HOME OF THEIR OWN, WITH INTEREST RATES OVER 20% AND AS HIGH AS 33%, AND NO HOPE OF SAVING A PESO! PRICES FOR CARS, APARTMENTS AND HOUSES ARE QUOTED IN DOLLARS AS ARE MOST RENTAL CONTRACTS. I CALL IT INSANITY. WHEN A BOTTLE OF COKE IN THE SUPERMARKT COSTS $2.50USD YOU CAN IMAGINE THE REST. THE LATEST PROJECTIONS FOR ARGENTINE INFLATION IN 2012 IS 30%, WHILE THE NON-UNION SALERIES HAVE STAGNATED FOR THE PAST 3 YEARS!! THE MIDDLE CLASS IS VANISHING BY DOUBLE DIGITS!
Jan 30th, 2012 - 04:19 pm - Link - Report abuse 0Commenting for this story is now closed.
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