“We really believe in Argentina. We really believe that you’re going to show some leadership,” he said in a video posted to social media. “I think it’s very unfair what has happened to the currency. It’s like, not right for the Argentine people.”
Argentina has a political crisis and 60% interest rates, but the lead singer of a multiple Grammy award winning band can’t be wrong, amiright??
Bono truly is a total c unt
I think he has good intentions… He is just a “mimbo”.
lol. no idea it was such a shitshow. i cant imagine it being worse than venezuela. now that is pure shit.
Venezuela is much worse. Argentina’s inflation rate is maybe 30%. In Venezuela it is hyperinflation - like 1,000,000%. Everything those guys own is worth zero now. It’s pretty scary.
is it just me? but when shit like this happens, i kind it find it funny. lol anyways its good research. seeing what they are doing to fix the problems.
rampant inflation is a price discovery issue. people have to constantly raise get the proper value for product. to counter inflation people try to raise rates. to maintain the value of bonds.
they tried to chop of the zeros, just so their computers can handle the large number volumes to buy a simple item like a tv.
anyways, imo. its interesting to see that many the peole who own real estate are trying to figure out what to charge. many are actually buying their stock market as its best store of money. if i was a person at venezuela. i would exchange everything i am paid into usd or a neighboring country with a safe currency.
if i was the government. i would stop the massive printing. raise taxes. cut social benefits. make trade deals to be paid in foreign currency. hoard foreign currency. if i dont make a trade deal, i would threaten to default on my debt. institute emergency measures. id find the people/corporations with a lot of assets and find dirt on them to justify the confiscation of their assets.
Dafuq?
Why doesn’t Venezuela just borrow against it’s 401k at 45% IRR to pay off their debt?
Auction rate securities denominated in pesos? Sign me up 