Some of you might find this link interesting. Are we back to 99 again
Like I told not long ago to a very good friend here in Québec as an Argentinian expat: eat our beef, bang our chicks, but don’t put a dime there unless you really know what you’re doing.
Very close people to me made monster deals during the 99-01 crisis and years after. I wish I had at the time the funds I have now. The good thing is my home country won’t disappoint and will bomb it again at some point.
Wow, so their new slogan is basically “do whatever the f we want”.
I had a friend who said “I think it’s time to invest in Argentina.” I just couldn’t see it. I like Argentines, but I don’t see the changes that suggest that things are being managed more responsibly. Admittedly, Kirchner is in a difficult political position.
More generally, I wonder if the echo of the financial crisis is basically putting pressure on central banks in general to be less independent. There are grumblings in Congress about abolishing the fed or changing its mandate to be more about inflation and less about growth. Nothing that looks likely to fly for now, but the fraying of the ideal of central bank independence is something worth noting.