MercoPress. South Atlantic News Agency
'K' Day for the future of YPF; shares in Buenos Aires and New York plunge
Shares in Argentina's biggest energy company YPF plunged 5.6% in Buenos Aires on Wednesday while the company's US-listed shares were 5% lower in New York. Read full article
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Disclaimer & comment rulesI think CFK should write a book on how to ruin a country in 8 years or less!
Apr 12th, 2012 - 10:32 am - Link - Report abuse 0“Companies argue they have kept their share of the deals but complained that investments were conditioned by the fact the government of president Cristina Fernandez froze for several years the price of oil barrel extracted in the country.
Apr 12th, 2012 - 12:15 pm - Link - Report abuse 0In effect a whole system of subsidies to public transport and cheap energy for households and industry pushed demand while supply remained virtually stagnant.”
A clear conflict between public need, supported as ever by the radiant Cristina, and the private greed of the oil companies
Actually, a clear conflict between private investment and those who desire to steal it, supported as ever by the “radiant Cristina”, backed by the greed of her political cronies.
Apr 12th, 2012 - 02:52 pm - Link - Report abuse 0Meanwhile on the other side of the Andes, you find a haven of economic and institutional stability. Chile has one of the world’s most business-friendly environments and has attracted a number of foreign investors with its open and competitive economy. Imagine what Argentina with all its wealth could be if it embraced similar free market reforms… YPF is the “golden goose”, a one-time theft of foreign investment that will dampen Argentina's future development.
Yup, Cristina's economic policies are quite barmy. Yet all her apologists will no doubt blame anyone and everyone else for 'undermining' YPF and forcing the cost of share's to drop.
Apr 12th, 2012 - 03:38 pm - Link - Report abuse 0Apparently the White House, UN, EU, Dow Jones, Hang Seng, Dax, FT100, Nikki 225 all take orders from Queen Elizabeth II who is, as any good Cristina supporter will tell you, the evil mastermind and puppet master who runs the whole world from behind the scenes, leaving only Argentina to fight for the freedom of the world! ;-).
It's definitely one of the best conspiracy theories I've heard in a while - if only it were true... :-)
(3) Chicureo
Apr 12th, 2012 - 04:53 pm - Link - Report abuse 0You say:
“Meanwhile on the other side of the Andes, you find a haven of economic and institutional stability.”
I say:
All financed by law 17.450
Courtesy of the U.P.
Compañero Salvador
Presente!
3. Think you post like you are a teenage girl. Argentina has way more resources than Chile there is just too much corruption to ever make good use of them. Too bad you had Peron when they had Pinochet.
Apr 12th, 2012 - 05:11 pm - Link - Report abuse 0Think: Waiting in a long line with our ration books to buy 250 grams of Polish butter and a liter of rancid cooking oil is one of my fond memories of the Unidad Popular. In the beginning, food prices were regulated by Salvador's administration so everyone could afford to buy basic commodities. Private foreign investment was nationalized and import duties were outrageous. Our economy collapsed and our currency became worthless. Sound familiar?
Apr 12th, 2012 - 06:28 pm - Link - Report abuse 0(7) Chicureo
Apr 12th, 2012 - 06:37 pm - Link - Report abuse 0Yuppppp........
All, all to familiar.............
Do you want me to link you to the thousands and thousands of documents released by the CIA, under the “Freedom of Information Act”, about the real “Free Market” causes of the Chilean economic colapse?”
I see however that you do not contest the immense importance and wisdom of law 17.450
Viva Chile, Mierda.
#3 “Imagine what Argentina with all its wealth could be if it embraced similar free market reforms…”
Apr 12th, 2012 - 07:02 pm - Link - Report abuse 0But they did, under Menem and de la Rua, and the result was 2001.
#5&8 Brilliant Think, you'd imagine if the “free market” was so free it wouldn't take dictatorship, murder and torture to force it down people's throats
Think: Most of my generation remember the infamous “Día de la Dignidad Nacional” (DL 17.450) and we really thought we could get away with the outright theft of Anaconda Copper, that was until Dr. Kissinger decided to destroy our economy and collapse the world copper price. In the long run, the nationalization paid off, but our country paid a steep price for doing so. (By the way, it has paid for all those Leopard tanks and F-16s ready attack anyone stupid enough to invade us.) Clearly the CIA and others assisted in punishing our socialist path. The Americans bankrupted our economy and encouraged our military to take over. Then of course, Kennedy punished us for doing so.
Apr 12th, 2012 - 08:05 pm - Link - Report abuse 0BK: Explain the 1990 exchange rate. At least Menem is a lovable con-man that just raped your economy. He had style however and the 1/1 exchange rate convinced Argentineans that you were all millionaires and it was nice until the money ran out. “Free market reforms” require hard work and sound fiscal management.
Another fond memory of the UP: About 1972 we came into a few Dollars and travelled over to Mendoza. I still remember feeling so envious of all the goods available to buy. Argentina was heaven. It was like Christmas. The same week after our return, I remember my mother bringing home our family quota of Soviet frozen sea something. The stuff was inedible.
Chile has some of the finest seafood in the world and yet then in our socialist paradise, we were eating Russian frozen fish. “Viva Compañero Salvador”
(10) Chicureo
Apr 12th, 2012 - 08:25 pm - Link - Report abuse 0Nice “Ensalada Mixta ” you prepared here....
You hate Salvador Allende because:
1) the Yankis ruined Chiles economy.
2) The Yankis forced you to eat some untasty Soviet frozen fish.
3) Allende's hinsight and political courage assured Chile's prosperity for the next many decades to come.
Think:
Apr 12th, 2012 - 08:55 pm - Link - Report abuse 0I don't hate Dr. Salvador Allende, he actually meant well in the beginning, but he did destroy our country.
1. Yes, the Gringos bankrupted us, but eventually made us very successful as well as a part of NAFTA. They even paid for part of my university studies.
2. The Soviets just had really bad food. The same stuff they distributed throughout the USSR. During the UP, fresh caught fish was strictly rationed and fishermen were carefully monitored. We’d buy black market Congrio and smuggle it back from the coast, but it was complicated. (By the way, my second unfortunate experience with the Soviet Union was owning a Lada in the early 80’s. Their cars are just about as good as their frozen fish.)
3. No, the Chicago boys “assured Chile's prosperity for the next many decades to come” and the military saved our country from Communist slavery.
12) Chicureo
Apr 12th, 2012 - 09:10 pm - Link - Report abuse 0Even I could be a successful “Chicago Boy” with the billions and billions of dollars of CODELCO as my personal Piggy Bank.
A good comparative example from Europe....
Two Democratic Monarchies.
“Socialist” Norway
and
“Chicago Bo” United Kingdom
Look at their Oil Industry…:
Norway is literally swimming in money, literally free of debt, has full control over their own resources and are the second happiest Country in the World after Denmark.
The UK, on the other way..............
Chicago boys my left foot!!!
Well this ensalada de mariscos needs to finish as I detect a marea roja coming in.
Apr 12th, 2012 - 10:50 pm - Link - Report abuse 0Norway is what, 3 million hard working people with how much oil production? Anyway, Argentina will never be like Chile during the UP, so this debate is pointless. What will happen is that many international investors will make you economic future less than its potential.
I prefer “locos con salsa golf” :-)
Apr 13th, 2012 - 04:28 am - Link - Report abuse 0Funny that, when presented with uncomfortable arguments and examples, so many ”liberales” reach for their guns and mention a “red tide”.
I don’t know anything about any red tide but I know about a pinkish surge that governed Chile for the last ~20 years.
Returning soon………………
And finally, as a Patagonian I would like to leave you with three words...:
No a HidroAysen.
I’m amazed that we agree on some topics.
Apr 13th, 2012 - 10:47 am - Link - Report abuse 0Locos in general, including con salsa golf.
Our very popular, East German educated, doctora Bachelet is probably coming back to office.
The pink tide that’s somewhat successfully governed Chile for the past 20 years has faithfully followed the fundamentals of Dr. Milton Freedman an the Chicago boys.
No – mas - represas
15 Think
Apr 13th, 2012 - 02:51 pm - Link - Report abuse 0Oh do come think... You're not trying hard enough..... go on, call Chicureo a turnip!!
It's only a matter of time...........
#17 “You can't squeeze blood from a turnip...”
Apr 13th, 2012 - 03:36 pm - Link - Report abuse 0(18) Chicureo
Apr 13th, 2012 - 05:02 pm - Link - Report abuse 0I did, indirectly,call you a Turnip about that gaffe with Bodou's wife, remember....
You surely rectified your ways after that faux pas, I must say.
Anyhow......
17/11/13
Michelle, Pres.cl
Camila, Mineduc.cl
Think: Thank you, but I'm mystified by the last three lines...
Apr 13th, 2012 - 05:14 pm - Link - Report abuse 0Sure you are:-)
Apr 13th, 2012 - 05:35 pm - Link - Report abuse 0If you're talking about Michelle Bachelet possibly winning the Chilean presidential election of 2013, it is what most think here in Chile. Camila Vallejo serving as the youngest minister of education is a stretch. The right has no chance of winning, but don't rule out Enriquez-Ominami.
Apr 13th, 2012 - 06:51 pm - Link - Report abuse 0I'm a dreamer...............
Apr 13th, 2012 - 07:19 pm - Link - Report abuse 0Commenting for this story is now closed.
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