MercoPress. South Atlantic News Agency
Argentina announces measures to prop the economy and avoid redundancies
A day after Economy minister Axel Kicillof admitted problems with the Argentine economy, president Cristina Fernandez announced on Thursday a battery of measures to prop economic activity, open the labor market for young people, avoid redundancies and give the property market a thrust. Read full article
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Disclaimer & comment rulesConsume more?
Aug 08th, 2014 - 09:14 am - Link - Report abuse 0Argentineans (as many on here have claimed plenty of times in an an attempt to show how 'strong' the economy is) are flat out consuming as an inflation hedge.
They're definitely not saving.
So how would they consume MORE to boost the economy?
This is economic firefighting to delay the inevitable. Nothing beats sound economic management but Argentina always seems to want a quick fix.
Aug 08th, 2014 - 09:19 am - Link - Report abuse 0I wouldn't be surprised if they eventually renage on all foreign debt under the banner of “sovereignty”
The middle class , agriculture and profitable businesses will be taxed more in order to pay subsidies to loss making , over staffed state businesses and over staffed government bureaucracy .
Aug 08th, 2014 - 10:01 am - Link - Report abuse 0Peronism in a nutshell .
“to consume which is the only way to ensure economic activity”
Aug 08th, 2014 - 10:23 am - Link - Report abuse 0People don't have the money to consume more. So, form now until year end, thje gov will pump another 120,000,000,000 pesos into the system so that people will have enough money to consume. They have just “forgotten” that, with this influx of money, inflation will have pushed prices out of peoples reach. So, what will they do then? Print more money. Genius...
Will the last person to leave please turn the lights out?
Aug 08th, 2014 - 10:43 am - Link - Report abuse 0All I get from these pompous announcements is this: save as many US dollars as you can and get ready for impact, it´s gonna be hard ...
Aug 08th, 2014 - 11:25 am - Link - Report abuse 0So the gov't is going to give a few companies U$130/mo per employee not to fire them?
Aug 08th, 2014 - 12:02 pm - Link - Report abuse 0Rut Ro
It must be worse than even I have been predicting.
BCRA is also forbidding most imports...a huge portion of the Rg economy runs on imported parts. No parts no jobs.
So when day this month does the hold on Int'l companies profits expire?
Dun dun dun
Also does this lithium soaked nutbag think Citibank cares about a few leased store fronts in a 3rd world country? Its very easy to just close up shop in Argentina and lay everyone off. In the end its probably more beneficial to exit the country.
As I am sure we'll be seeing shortly.
Went to Wal-Mart yesterday...needed a few things that they usually carry and the others don't. Seems they don't either anymore. Shelves are half empty, things I needed nowhere in sight. And I have the money to spend. But nothing to buy.
Aug 08th, 2014 - 12:08 pm - Link - Report abuse 0And now we know why Putin was here...to make sure they will sell veggies to his evil empire. And nary a word from la presidenta about what they talked about. But, now we know. All the commies cozying up together.
8. At some point in the very near future Walmart and the rest of the stores will have to close because they have nothing to sell.
Aug 08th, 2014 - 12:22 pm - Link - Report abuse 0Just like all the mom and pop stores have done long ago.
It is hard to fathom how they can think pumping more pesos into the system is a good thing. Inflation is 40% what do they want 100%?
Is her goal to create civil unrest, declare martial law and stay Prez?
I wonder...
So please no more complaints about overspending”, said Cristina Fernandez in a direct attack to the Argentine Industrial Union.
Aug 08th, 2014 - 12:26 pm - Link - Report abuse 0This is nothing more than an Obama look alike panacea. Spend your way to prosperity. Never worked, never will. Socialists always believe this system works, until they run out of other people's money. Which is now.
10. They ran out of other people's money 2 years ago. They've been working on a float since then.
Aug 08th, 2014 - 12:37 pm - Link - Report abuse 0The float is gone and that's why they are panicking.
They were expecting U5B from YPF, U$3B WB/IDB, U$1B Provinces Bonds, this year and it's not going to happen.
And if they reported legitimate trade numbers they'd be negative.
Cretina K and Axel Kissoff will run the printing presses day and night.
Aug 08th, 2014 - 12:41 pm - Link - Report abuse 0And - if they can manage - they will place additional taxes on soybeans retained in private on farm storage in an effort to try to drive the farmers and land owners to liquidate them on an already deteriorating world market as a last ditch effort to inject Yankee dollars into the contracting economy of rotting roadkill.
They - rotting roadkill that is - think that by buying time (deferring) that some alternate fate will be bestowed upon them because of there exercise of resistance and native cunning against the capitalists/neocolonialists. Since nationalzing oil is working so well the rest of elements production must be similarly evaluated. Land reform for all! Loot the pension funds! [Wait they - rotting roadkill - already did that. . . . ]
China! Where are you? Save us!
@ 9 yankeeboy
Aug 08th, 2014 - 12:45 pm - Link - Report abuse 0“Is her goal to create civil unrest, declare martial law and stay Prez?
I wonder.”
She would need a strong 'Presidential Guard' for that and she doesn't have the resource unless La Camping It Up are going to be armed?
@9, 13 She doesn't have enough support. She's losing followers, and her presence on television isn't anywhere near what it used to be.
Aug 08th, 2014 - 01:22 pm - Link - Report abuse 0There are foreigners that are taking jobs for 6 months to a year that have not heard of La Campora until we discussed it. All she's doing now is embarrassing herself. The washed up crone doesn't have much time left.
I'm a bit confused. Didn't she say, the other day “Every time that Argentina has become viable, that is when the missiles and permanent bombardments begin”. Doesn't that imply that argie land is viable? Why does she need to “prop up” her economy? Isn't ECLAC predicting negative growth? It's all good fun. Let's all sit back, continue making helpful comments and watch scumland die. Then we can buy it.
Aug 08th, 2014 - 01:34 pm - Link - Report abuse 0“Let's all sit back, continue making helpful comments and watch scumland die.”
Aug 08th, 2014 - 01:59 pm - Link - Report abuse 0Conqueror, your gringo amigos salute you!
This bitch is such an embarrassment to Argentina.
Aug 08th, 2014 - 02:06 pm - Link - Report abuse 0What's next? She nominates fat max as her successor?
My sympathy lies with the millions of Argentine citizens who have been duped by this dreadful woman and her cronies.
Aug 08th, 2014 - 02:39 pm - Link - Report abuse 0Will the trolls kindly tell us what the solution should be?
The long term problem is whether there is anyone more capable or competent to replace her. I don't think just getting rid of CFK will resolve anything.
Aug 08th, 2014 - 03:07 pm - Link - Report abuse 019. The person taking the reigns after the Ks have completely destroyed the economy and functioning gov't is doomed.
Aug 08th, 2014 - 03:11 pm - Link - Report abuse 0I don't know why anyone would want that job unless the reason is solely to enrich themselves.
Any Argentine posters care to suggest who the next president will be?
Aug 08th, 2014 - 03:46 pm - Link - Report abuse 0@9 CFK´s plan is to keep printing money until the next guy takes over and is forced to take austerity measures so she can get back. Problem is, it doesn´t seem she can keep buying time.
Aug 08th, 2014 - 04:23 pm - Link - Report abuse 0@21 It´s too soon to tell but my bet is Sergio Massa who is running 1st at the polls and already has half of Peronists in his side, including a lot of people from La Campora, He was a Kirchnerist, but we can´t really tell what he will do once he gets into power since Peronists only show their true colors once it is too late. He might be less insane than CFK but he´s definitely just as corrupt as her. Otherwise he would not be even in the running.
@21
Aug 08th, 2014 - 05:28 pm - Link - Report abuse 0No one you, the EU, or the US will like.
In other words, no boot-licker.
10,000 people a day are queuing up because their gas bill went up 300%.
Aug 08th, 2014 - 05:31 pm - Link - Report abuse 0They'r lucky they even have gas. Wait until Arg can't afford LNG shipments any longer.
Bahahahaha
@21
Aug 08th, 2014 - 06:03 pm - Link - Report abuse 0No one you, the EU, or the US will like.
In other words, a corrupt, cheating, stealing and lieing Argentine politician.
We thinks it is time to sell the family silver...lol
Aug 08th, 2014 - 06:46 pm - Link - Report abuse 0@23
Aug 08th, 2014 - 07:13 pm - Link - Report abuse 0“no boot-licker”
lol
Are you really referring to the government that has been pitifully pleading to be allowed to pay their creditors?
“pleading boot-licker” would be more accurate.
.. but not only pleading boot-lickers, you pay top dollar to international investors on the boots you are allowed to lick. Which other country pays so well?
Investors love the grateful pleading boot-licking and CFK (and followers) apparently love the humiliation.
@ 21 Hilarious Hector
Aug 08th, 2014 - 07:20 pm - Link - Report abuse 0CHRONIC BREAKS IT DOWN FOR YOU!
Aug 08th, 2014 - 07:56 pm - Link - Report abuse 0Elvis Kissoff's Mentor and BFFL - Joe Stiglitz - Descredited.
In 2002 Joe wrote in “Implications of the New Fannie Mae and Freddie Mac
Risk-based Capital Standard” the following:
“The paper concludes that the probability of default by the GSEs is extremely small.”
A short six years later the quality of Sitglitz's analysis and prediction was put to the test and found wanting.
Stiglitz discreditted himself in this most critical of times and bears at least partial responsibility for the Great Recession of 2008 by supplying the U.S. government with a wholly inaccurate assement of the inherent risks of these enterprises.
Shame on you Joe.
@27
Aug 08th, 2014 - 10:52 pm - Link - Report abuse 0Pleading? You mean demand.
Of course they are going to demand. It's part of the strategy to show they are willing to pay. If they just kept quiet it would look strange to the 92% that cannot get paid right now.
It has all to do with politics and posturing and not any of the other 'reasonings' of Argentina to which you masturbate to at night.
Comment removed by the editor.
Aug 09th, 2014 - 12:29 am - Link - Report abuse 0What a wonderful post Brassiere, you are my idol,NOT
Aug 09th, 2014 - 07:12 am - Link - Report abuse 022. Its sad that you don't have anyone capable to run for Prez. Your options are Dumb and Dumber.
Aug 09th, 2014 - 11:54 am - Link - Report abuse 0I don't know how anyone with the slightest ambition or an ounce of brains can live in Argentina.
It must be because they think every other place is a nutty and horrible as that place.
Its not.
You'd feel like you were waking from nightmare be moving to the USA or even Canada.
I think Argentina is now in a downward spiral that will last for many years.
Aug 09th, 2014 - 03:02 pm - Link - Report abuse 0Outlook: very gloomy
@33 “I don't know how anyone with the slightest ambition or an ounce of brains can live in Argentina.”
Aug 09th, 2014 - 06:38 pm - Link - Report abuse 0It's simple, emigrating from Argentina to the USA or Canada is about as hard as escaping from North Korea, with the added dose of racism as the embassy chooses those with the whitest skin to give out visas.
There are other reasons of course, but that one is the most important.
@35
Aug 10th, 2014 - 12:22 am - Link - Report abuse 0What an imbecile. You can cross the border any time you want. You insult North Koreans with your comparative stupidity.
@36
Aug 10th, 2014 - 02:06 am - Link - Report abuse 0Maybe to Chile or Brazil, not to the USA.
So, on topic. Some new buses and 'consume more'. That is an economic policy?
What happens when Argentina can't import spare parts or gasoline? You can't eat a bus.
This is the Beginning of The End.
Outlook: Poor, with a good chance of riots.
I don't know! Argentina always seems to be able to pull a rabbit out of a hat.
Aug 10th, 2014 - 05:58 am - Link - Report abuse 033 - regale me with tales of dubya.
Aug 10th, 2014 - 03:27 pm - Link - Report abuse 037 - will they be as big as the London riots ?
these comments are nonsense!
Aug 10th, 2014 - 06:45 pm - Link - Report abuse 0@23, 30, 36. I know you won't like anything I say. That is encouraging. Best possible chance that you will die. Do I care if you die? I reserve my caring for human beings. No point in you “demanding”. Nobody's listening. PAY. Nobody's going to get paid until you do what the Judge ordered. Just think. He's sitting there, nice and warm in New York, inside the country that could destroy you in seconds. And you “demand”? Pitiful little turds. But we see where you get your ideas from. Cross into NK frequently, do you? Now we know where you get your commie, ignorant ideas. Argieland, Iran, North Korea and Russia. Is that your new “Axis”? I'd give you a week. 3 days for Russia, 2 days for North Korea and a day each for Iran and argieland. Quit thinking you can overcome real power.
Aug 10th, 2014 - 07:50 pm - Link - Report abuse 0@40 celene
Aug 10th, 2014 - 11:00 pm - Link - Report abuse 0well that was helpful. Not!
What have you got to say?
@41 Here's a helpful link for you: http://www.nhs.uk/Conditions/Bipolar-disorder/Pages/Treatment.aspx
Aug 11th, 2014 - 12:43 am - Link - Report abuse 0@ 43 Klingon
Aug 11th, 2014 - 12:03 pm - Link - Report abuse 0Why do you link a bi-polar site to Conqueror, he is not bi-polar. He may be aggressive but what has that to do with being bi-polar?
You clearly do not understand what it is to be bi-polar, or more correctly a manic-depressive, to use the original term before the PC brigade decided it was too ‘strong’.
Manic depressives are NOT maniacs, they exhibit ‘manic’ behaviour in that they are at the extreme end of euphoria, quite often waving their arms about and singing or shouting loudly, THEN they go into the depressive mode which can be extremely dark and result in the suicide of many M-Ds.
Perhaps you should visit one of the many thousands of shrinks you have in TDC and have yourself examined for the condition: you never know. I for one would be as depressed as hell if I were and argie and incapable of escaping what passes as reality in TDC.
Glad to be of help, no need to thank me.
I love the article about RR Donelley the Chicago company closing it's doors after 22 years in Argentina.
Aug 11th, 2014 - 07:25 pm - Link - Report abuse 0http://www.buenosairesherald.com/article/166840/printing-giant-rr-donelley-files-for-bankruptcy-in-argentina
The Buenos Aires province Minister of Labour Oscar Cuartango scheduled a conciliatory hearing for today at 4 p.m. in La Plata seeking to “guarantee the jobs” of RR Donnelly's 400 employees. Did he lose sight of the big word there...BANKRUPT......good luck getting them to pay. Yes .....it was a great ten years topped off by another default and no imports and masses downsizings on the way.
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way - in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.”
@44 ChrisR
Aug 11th, 2014 - 10:04 pm - Link - Report abuse 0l sincerely thank you for that post. Too many people throw around phrases they have heard on trash TV with out any understanding of what they are saying.
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