MercoPress. South Atlantic News Agency
Industrial activity in Argentina down 2.9% in eight months of the year
Industrial activity in Argentina dropped 4.9% during August compared to the same month a year ago, reported the Argentine Industrial Union (UIA), the country's most influential manufacturers' lobby. This represents its sixth straight fall and a 2,9% decline for the first eight months of 2014. Read full article
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Disclaimer & comment rulesHow can industry manufacture when BCRA can't afford to buy the parts?
Oct 10th, 2014 - 12:24 pm - Link - Report abuse 0duh
Its only going to get worse
I can't wait for the layoffs to really get going.
Probably right after Christmas if they can last that long.
I'm bloody amazed that there are any auto plants in Argentina still operating at all. Who's still buying cars...?
Oct 10th, 2014 - 01:34 pm - Link - Report abuse 03. It won't be long before they all close up like they are doing in Venezuela currently.
Oct 10th, 2014 - 01:36 pm - Link - Report abuse 0Economic depression.
Oct 10th, 2014 - 01:45 pm - Link - Report abuse 0No more INDUSTRIAL POPULISM in Argentina. No more subsidised dollars that the farmers produce for the industrial barons who are in bed and well contacted to gov't.
Oct 10th, 2014 - 02:12 pm - Link - Report abuse 0http://www.lanacion.com.ar/1476362-basta-de-populismo-industrial
Just let the free market adapt Argentina to its natural competitive advantages and we will be out of this mess in no time.
rotting roadkill is engaged in a protracted advance into decay and ruin. The dark land should be partitioned.
Oct 10th, 2014 - 02:23 pm - Link - Report abuse 0Good article explaining the train wreck on its way
Oct 10th, 2014 - 02:58 pm - Link - Report abuse 0http://blogs.ft.com/beyond-brics/2014/10/10/guest-post-dont-let-argentina-become-another-venezuela/
BCBA/Meval going through the floor.
Oct 10th, 2014 - 03:08 pm - Link - Report abuse 0@5
Oct 10th, 2014 - 03:16 pm - Link - Report abuse 0You are very naïve that a “free market” exists. Europe and North America do NOTHING BUT industrial “Populism”. Tell them to stop.
Read the article and learn something for a change.
Oct 10th, 2014 - 03:19 pm - Link - Report abuse 0Merval off 19% since 9/29 !
Oct 10th, 2014 - 03:33 pm - Link - Report abuse 0@9
Oct 10th, 2014 - 03:47 pm - Link - Report abuse 0...and what Kicillof's Argentina is doing can only be classified as Economic Warfare against its own citizens.
How long before your Campora “Militia” starts hauling people off to the dungeons for hoarding goods or exchanging dollars?
Hmmm....?
Austral Elvis is so fcking delusional. He thinks increasing public spending will reactivate the economy.
Oct 10th, 2014 - 04:48 pm - Link - Report abuse 0And
He wants the USA Gov't to intervene in their court case with the holdouts.
Otherwise international relations will be damaged.
He is beyond batsh*t crazy.
What is in the water there?
@ 13 yankeeboy
Oct 10th, 2014 - 05:18 pm - Link - Report abuse 0“He is beyond batsh*t crazy.....What is in the water there?”
Batshit. :o)
Delusional is the word. That seems to define their world view. They simply don't seem to understand how a modern democratic civilized country actually works.
Oct 10th, 2014 - 06:09 pm - Link - Report abuse 0In their world I guess judges are there to rubber stamp the Exalted Leadership's decision without any questions.
It seems that lately they have been looking more and more like the other great pseudo-democratic kleptocracies of the world, like Russia, Venezuela etc.
Wouldn't be surprised if they started seizing farms and businesses from “the enemies of the people” and then somehow magically those end up in the ownership of various Whacky Leadership characters...
15. I think they'll start seizing the silo bags if they can find them. They're eyeing them like its their last gasp of air.
Oct 10th, 2014 - 09:03 pm - Link - Report abuse 0and it probably is
Anyhoo Soy went down again today.
If it gets under $300 I will laugh and laugh
16.
Oct 10th, 2014 - 09:14 pm - Link - Report abuse 0They dont have the capacity to do that Nation wide in practical terms. They can confiscate a first couple of bags with the “Ley de Abastecimiento” or supply law they passed a month ago next day the farmers will just cut open the silo bags for the soy to rot.
17. I didn't say it wouldn't get really ugly.
Oct 10th, 2014 - 09:20 pm - Link - Report abuse 0We all knew it would go tits up for some time, but we have being through this times before, the problem is that 40% of the country depends on the system that crreates the crisis and another 40 % of the country or even more doesn't understand why the crisis occurs.
Oct 10th, 2014 - 09:36 pm - Link - Report abuse 0Even the idiot of Buzzi head of FAA that lead the 2008 revolt is saying that if the Price of Grain regulator that was abolished in Menem's govt and now thee Ks want to implement would be beneficial.
I've said this before but you are mistaken if you think this crisis will be like any you've ever had before. For all the reasons I stated many times before it will be worse and longer.
Oct 10th, 2014 - 09:39 pm - Link - Report abuse 0Nobody will bail out Argentina this time.
Nobody.
Rodrigazo-Tablita de Martinez de Hoz- hiperinflation 1988- 2001 crisis-.
Oct 10th, 2014 - 09:45 pm - Link - Report abuse 0All crisis were worse than previous on, but if you look closely at Argentinas economic history in the last 50 years or so the ability to grow faster and the level of deficit to which the country can be taken is each time less . Its not that you discovered gunpowder.
I don't think you understand what I am saying, in the past the USA or UK have bailed Argentina out of each crisis.
Oct 10th, 2014 - 10:00 pm - Link - Report abuse 0That's not going to happen this time.
Also you don't have enough fuel, neither oil or nat gas to keep your cities lit and your cars powered.
You have no money to buy any.
Just those 2 things will make this crisis the worst in your history.
Your population will also not stand for being cold and hungry.
When this collapses you'll see civil unrest.
Your next Prez, 2 years away will come knocking on doors that will not open.
Wait and see
I meant each crisis has proven more harder socially than the privious one, but the rates of recovery of Argentina after each crisis are faster and the level of deficit in to which the country implodes is always lesser and lesser.
Oct 10th, 2014 - 10:14 pm - Link - Report abuse 0Many countries around the world import energy and we have some enough conventional reserves that -IF- they do things right may just live by and buy some time for non conventional to develop.
I hope nobody bails Argentina out, beecause it would prevent the politicians from doing their homework like reducing the massive State they have and let business develop. The public sector is already heavily indebted with itself (perhaps 100% of real Arg GDP) and the private purses are gone (private retirement funds) as well as sectors to tax. Agro & labour in white. They are way over the Laffer's curve so they will have to cut taxes in order to allow business.
23. Yeah, Argentina will have to go through a massive restructuring and all of these fake intergovernmental loans will have to be written off so everything can start will a clean slate.
Oct 10th, 2014 - 10:24 pm - Link - Report abuse 0You have a lot more faith in your country than I do. For 75 years your citizens have chosen the wrong path at every opportunity. I don't think this time will be any different.
In 2001 when I moved there I thought that's when you had the opportunity to right this sinking ship. The Ks blew that opportunity, burned the bridges then peed on them. There's nobody left that is your ally or even cares whether the country survives or not.
Argentines are plain retards, but the government or whomever comes along doesn't have any choice but to ignore their populist whims and do what its right, there is no rope left to pull from.
Oct 10th, 2014 - 10:35 pm - Link - Report abuse 0The question of them getting the loans in medium to long term is crucial. If they get foreign money the cycle will start again.
At the end of this crisis they will find some piecemeal loans to stumble through the next fews years.
Oct 10th, 2014 - 11:25 pm - Link - Report abuse 0Argentina has both positives (millions of acres of farmland) but many negatives ( millions of assholes who don't want to work, unions, employment regulations where no one wants to employ anyone).
I have been months trying to find someone to clean my house and no one wants to work.
26. I hear paul cedron needs a job.
Oct 11th, 2014 - 11:03 am - Link - Report abuse 0@ 26 Klingon
Oct 11th, 2014 - 11:12 am - Link - Report abuse 0He also has his own cement barrow in case your gardener needs a hand and don't forget his antique 'plane in case you want private air transport.
And good luck with that. :o)
@22 You didn't bail us out in 2001. But what do you think will happen with the country? I'm not sure the Peronists will can clean up their own mess but the only alternative are the Narcos. Unfortunately there is nobody who can do “the right thing”, because maybe there is no “right thing” to do. If the goon squad rebels and take over they will turn the country into Sinaloa (or North Korea if the USA embargoes us).
Oct 11th, 2014 - 06:16 pm - Link - Report abuse 0“You have a lot more faith in your country than I do. For 75 years your citizens have chosen the wrong path at every opportunity. I don't think this time will be any different.”
Why not?
The IMF offered to bail you out but you decided to bankrupt every Gov't and Private entity with hard assets and use them to pay your debt.
Oct 11th, 2014 - 06:37 pm - Link - Report abuse 0Bad Choice
Why not? What's changed? The people? I think not.
Greedy, self absorbed and corrupted.
Nothing has changed.
@30 Human beings in general are greedy and self-absorbed, and corruption is in the system.
Oct 11th, 2014 - 09:41 pm - Link - Report abuse 0The IMF offered a bailout IF AND ONLY IF we could reduce the fiscal deficit to zero. Problem is, that was impossible. The people would never allow the end of convertibility (understandably as it ended inflation) and when Lopez Murphy wanted to end the free university there was an uproar and he was kicked out. But the real problem is that the money that the government spends on ñoquis is necessary for the state to function. Cutting that spending would collapse the state. So no bailout.
The good news is that the current fiscal deficit is far smaller than during the 90s but if will not be zero for a long time. Austerity is completely unworkable.
I guess what you don't seem to understand is your system must collapse for you to grow.
Oct 11th, 2014 - 10:12 pm - Link - Report abuse 0Every year, year in and year out if you continue as you have since Peron you'll be poorer and dumber.
For your own sake and the sake of your children you should be hoping for a complete and utter collapse so the system can be fixed.
@32 If the system collapses the narcos will take over. Look at Sinaloa and Michoacan in Mexico for what would happen. Unfortunately, there is no other alternative to the Peronists, and there won't be unless the opposition gets its act together. Even then it will take at least 20 years before they have a chance. For the time being, the best we can hope for is some stability.
Oct 12th, 2014 - 02:42 am - Link - Report abuse 0I would bet the Narcos take over then. At least in 5-10 yrs the USA will have a reason to intervene.
Oct 12th, 2014 - 11:52 am - Link - Report abuse 0Maybe that is your best hope.
Stability as you call it is just a waiting game as you go further into the toilet.
34.
Oct 12th, 2014 - 12:19 pm - Link - Report abuse 0The US has being infiltrated all the way to Maine by the Mexican drug cartels. You will have your own problems to face in the next years and decades to come as you have millions of Mexicans and central americans living in ghettos that will provide a interesting source of soldiers for the cartels.
The good thing about Michoacan are the self defence groups that organized themselves. I think that is the only way to fight the cartels and crime. In a local level, at Federal level is almost impossible. In the US at least the citizens are armed to the teeth.
Im very weary of Argentinas subsidies to mother kids and the portrait of Single mothers as “heroes”. Low class women marry to the State and have heaps of kids with drug addicts, bums and criminals all their lives. The statistics are very against kids that grow up with single moms and broken families.
There is no concept of family any longer. No responsability for ones action.
In all western cultures there is similar patterns as a result of years of social marxism.
Far east Asian low class is more conservative in contrast, that is why they are more cohesive and the most succesful countries in the world nowadays.
35. The media blows our drug gang take over out of proportion. I hate to blame the influx of Central Americans on one person/party but it is Obama that has allowed this to get out of control. If there was a will from the Federal Gov't we could secure the border.
Oct 12th, 2014 - 01:14 pm - Link - Report abuse 0This is one of the big issues in the next election, even with taking over the Senate it won't mean much on the day to day activities but it will have an impact on the next Prez election.
There's a feeling in our country that the BIG Gov't is incompetent and is interfering in our lives too much. That there are too many people receiving assistance, that's is become too Collectiveness for most Americans. Obama has tried and failed to drag the USA to the left.
Hopefully the next Prez can fix the mess he is going to leave behind.
I have hope and faith that they will.
Standard& Poor's Ratings Services published today its “Banking Industry Country Risk Assessment: Republic of Argentina.” We classify the banking sector of Argentina in group' 9' under its Banking Industry Country Risk Assessment. Other countries in group' 9' are Cambodia, Mongolia, and Vietnam.
Oct 13th, 2014 - 12:04 am - Link - Report abuse 0Great, Argentina's banking system sinks a little more along with the country in general
@34 You are completely insane. If the narcos take over it's the end of us, they are maniac genocidals, in 5-10 years they would kill millions, maybe even tens of millions.
Oct 13th, 2014 - 01:23 am - Link - Report abuse 038. Well the Ks invited them in and the general population is too apathetic to do anything about either so you get what you deserve.
Oct 13th, 2014 - 10:54 am - Link - Report abuse 0One of my friends from Central America said he wished the USA would set up death squads and kill all the narcos and corrupt politicians in his country since they're doomed. I said, why would we? What would we get out of it? Why would we care what happens there?
Same goes for Argentina.
39.
Oct 13th, 2014 - 02:12 pm - Link - Report abuse 0Common yankee, do you think that the top dogs in the intelligence community in the US and the Pentagon are cool about the growing instability and rife of crime in Central America??
Even the collapse of the Chavista's in Venezuela will mean problems as the Carribbean and Central american countries will have no cheap energy that Chavez used to give away.
On the other note the Cuban regime will have to be more flexible to the US demands as Venezuela goes down the drain and is unable to support them any longer.
40. The USA is on its way to becoming more insular. I think once this dolt of a Prez is gone we'll militarize the border with Mexico and not give a fig about what happens down there.
Oct 13th, 2014 - 02:21 pm - Link - Report abuse 0They've got nothing to offer us
all they are doing is bringing disease, pestilence and violence to the USA.
That being said, I am very supportive of LEGAL Immigration. I wish we'd set up a process much like Canada, build up a number of points and the State can sponsor your visa. I'd also like to see the visa have conditions on continued employment and no access to any state or Federal benefits for at least 30 yrs after an initial access to a fund to get them set up in the USA. Which they'd be required to pay back so the fund in self sustaining.
I think that the US is becoming more insular yes, but it also is becoming increasingly NAFTA and Pacific orientated. Even countries like Ecuador and Venezuela import the most from the US. One would of thought it was China or Brazil.
Oct 13th, 2014 - 02:37 pm - Link - Report abuse 0I think this is pretty telling.
https://twitter.com/Amazing_Maps/status/507854122763423744
By geography yo are kind of bound to the Carribbean basin and the Pacific.
But we'll always do more business with UK/EU than we would do with SA. The Atlantic trade is HUGE.
Oct 13th, 2014 - 02:53 pm - Link - Report abuse 0Wait until we start exporting O/G to the UK/EU.
I think V trade will drop dramatically as their oil becomes less profitable and we shut off their refining capacity in the USA. That's less than 5 yrs away and they need oil at $120/b to be profitable.
The rest of the trade with SA is inconsequential. Its nice don't get me wrong but nobody would be crying if any 1 country decided to stop buying from us.
Zeihans projections is that something like only a mere 5 % or 4% of US GDP will be linked to the world outside of NAFTA in the future
Oct 13th, 2014 - 03:07 pm - Link - Report abuse 0South America is not your trading partner, Central America is. The natural border of NAFTA and Central America is the Amazon River.
At least your analyst consider so. Just like the Sahara desert is the natural southern border of the EU. The Rio de la Plata network (mercosur) should be another region or economic trading zone, the fact that Brazil is painted in the American flag on that map is more of an indicator of the failure of Argentina to become a consolidated exporter and an open ad competitive country than anything else.
@39 Are you saying we deserve to get killed by narcos? Once again you've proven to be scum. No surprise here, Americans like you, who happen to run the government and corporations, would love to send us Latinos to gas chambers.
Oct 13th, 2014 - 03:34 pm - Link - Report abuse 0It is not up to the general population to change anything except through the democratic process. Anything else would be TERRORISM. And that's very very wrong.
45. You are not getting the point. Who are the people who suffer from the Narcos the most ?? Its the villeros and the peronist voters that elect people like Anibal Fernandez and the drug lords that have infiltrated the State. They have no dignity and get what they give on the long term. The rest of Argie society should start arming herself and take the Michoacan alternative.
Oct 13th, 2014 - 03:46 pm - Link - Report abuse 0@46 I get the point but the Peronists voters are not the only ones who will get brutally murdered. In fact they won't be the ones the narcos are looking to wipe out. The villeros are already under narco power and it seems they like it.
Oct 13th, 2014 - 03:50 pm - Link - Report abuse 0I know its not clean cut. But it would be more clean cut if the rest of Argentina weaks up from the Matrix and decides to change its way of thinking.
Oct 13th, 2014 - 03:58 pm - Link - Report abuse 0Have you noticed how the vigilante groups appeard by minutes in Cordoba last year when the nominal rule of law collapsed and the cops went on strike?? Or the lynching earlier this year?? We need more of that. We dont need politically correct idiots like the disgusting villero Pope who mandate us from Rome to w kneel and bend over in order and garantee the end of term of Cristina and “stability” to be upheld or to put the other cheek when these animals shoot us, rape us and rob us.
45. Deserve? Maybe a better word is inevitable.
Oct 13th, 2014 - 08:11 pm - Link - Report abuse 0You seem like a fairly intelligent poster I am kind of baffled that you don't see a connection to a population voting one corrupt inept gov't after corrupted inept gov't and then absolve them of all responsibility.
I really don't understand your thinking.
You voted for these boobs its your job to get rid of them.
I will not absolve you of your responsibility and I believe you won't learn until you are in utter chaos and ruin.
Its your own fault and you need to live with the consequences of your actions.
Simple
@48 Self-defense militias are for self-defense only and should only be set up in response to a real threat. Otherwise they would be terrorists. I don't think militias are the solution, merely the sympton of a problem.
Oct 14th, 2014 - 02:56 am - Link - Report abuse 0@49 You don't seem to understand do you? The only people who could and can rule Argentina are all corrupt and inept. If there is someone who isn't corrupt or inept (there isn't), that someone would get kicked out in less than a year by the mafia, or the trade unions, or the media, or the wealthy. It seems you believe that the people just voted an idiot instead of someone intelligent, but that isn't the case. Since 1930 the circustances forbid any competent government from forming.
The whole political system is broken, and it is not up to the people to change it, but the politicians'. The people only vote the politician. If all the politicians are corrupt or inept, and they are unwilling to change, that is not our fault. Yes, someone can choose to be a politician but you cannot expect most people to switch to a different career, one most can't handle, especially in Argentina.
By the way, I never voted for those idiots in power, though I am certain that the people I voted for wouldn't even last a single term in power. There are no good choices. But anyway, I will never take responsability for actions I did not make.
And even if I wanted I couldn't take these boobs out of power. After all, all the other politicians are too incompetent to even compete with them.
Of course, I know you must blame us so you can justify your denigration of us.
Are you a suicidal Emmo?? Well just cross your arms and sit on top of the Obelisco for someone else to do things for you... The yanks, the State, the Aliens I dont know.
Oct 14th, 2014 - 04:02 am - Link - Report abuse 0Uffff
50. You are the problem and you deserve exactly what you get.
Oct 14th, 2014 - 11:32 am - Link - Report abuse 0Commenting for this story is now closed.
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