[Marxism] ZCommunications » Argentina

Louis Proyect 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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