[Marxism] ZCommunications » Argentina
lnp3 at panix.com
Wed Aug 14 06:25:51 MDT 2019
On August 12, 2019, financial markets in Argentina crashed. The stock
market contracted 38% in just one day. The currency, the Peso, fell 20%
after falling as low as 30% and recovered to 20% only when Argentina’s
central bank raised its interest rate to 75%. Watch next for bond
interest rates, both government and corporate, and especially dollarized
bonds which Argentina has loaded up on in recent years, to freefall as well.
What’s going on in Argentina? What’s likely to happen next? And what do
the events in Argentina have to do with falling financial asset
prices—i.e. stocks, currencies, derivatives, commodity futures, real
estate prices, etc.—now underway globally as well?
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