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Argentina Defaults
Yahoo Finance ^ | 7/30/14 | Linette Lopez

Posted on 07/30/2014 3:24:33 PM PDT by jimbo123

Argentina has defaulted again.

Argentine Finance Minister Axel Kicillof is now addressing the world from Argentina's consulate in New York City.

He has delivered the news that Argentina is in default, having failed to satisfy the demands of a group of hedge fund creditors negotiating over $1.3 billion worth of debt owed to them for over a decade.

"The Argentine Republic has filed for a stay [on payment] with Judge Griesa... The Judge decided that if the vulture funds said there could be a stay there would be a stay," said Kicillof. "The vulture funds were not willing to grant the stay."

Without the stay and without payment, Argentina is in default.

(Excerpt) Read more at finance.yahoo.com ...


TOPICS: Business/Economy; News/Current Events; Politics/Elections
KEYWORDS: argentina; fail; socialism

1 posted on 07/30/2014 3:24:33 PM PDT by jimbo123
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To: jimbo123

2 posted on 07/30/2014 3:25:42 PM PDT by jimbo123
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To: jimbo123

Time to invade the Falklands.


3 posted on 07/30/2014 3:25:44 PM PDT by dfwgator
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To: jimbo123

Save that headline. You’ll be able to use it again in a few years. It’s as reliable and predictable as the tides.


4 posted on 07/30/2014 3:26:34 PM PDT by Paine in the Neck (Socialism consumes EVERYTHING)
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To: dfwgator

What do they have these days to invade the Falklands? If the Argies call it that other name, the wun will at best do nothing or at worst give real aid and assistance to slap the Brits in the face.


5 posted on 07/30/2014 3:27:15 PM PDT by wally_bert (There are no winners in a game of losers. I'm Tommy Joyce, welcome to the Oriental Lounge.q)
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To: jimbo123

Venezuela also cannot pay it’s debt


6 posted on 07/30/2014 3:27:24 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: jimbo123

Sell some beef.


7 posted on 07/30/2014 3:28:22 PM PDT by Paladin2
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To: jimbo123

“vulture funds?” Well, Argentina if you paid your bills maybe the “vultures” wouldn’t be circling your deadbeat a$$.

CC


8 posted on 07/30/2014 3:28:23 PM PDT by Celtic Conservative (tease not the dragon for thou art crunchy when roasted and taste good with ketchup)
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To: dfwgator

Buenos Ares better leave the lights on. The country might be repo’ed overnight.


9 posted on 07/30/2014 3:29:15 PM PDT by Tallguy
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To: jimbo123

Not to worry. Argentina can simply get the IMF (aka The United States of America) to guarantee then a whole new round of debt that they can default on again in the future.


10 posted on 07/30/2014 3:29:29 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
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To: jimbo123

Marxists NEVER learn.


11 posted on 07/30/2014 3:30:09 PM PDT by Carbonsteel
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To: Paladin2

Sell Messi.


12 posted on 07/30/2014 3:30:55 PM PDT by dfwgator
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To: jimbo123

I knew that going happen


13 posted on 07/30/2014 3:31:27 PM PDT by SevenofNine (We are Freepers, all your media bases belong to us ,resistance is futile)
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To: jimbo123

And the money kept rolling out....


14 posted on 07/30/2014 3:31:34 PM PDT by dfwgator
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To: berdie

later


15 posted on 07/30/2014 3:32:20 PM PDT by berdie
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To: jimbo123

Argentina needs its own Augusto Pinochet. Socialists can not be adequately be dealt with by democratic means.


16 posted on 07/30/2014 3:33:25 PM PDT by Objective Scrutator (All liberals are criminals, and all criminals are liberals)
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To: jimbo123

It’s time for the IMF to loan them the money to bail out the creditors and then submit to austerity again


17 posted on 07/30/2014 3:35:51 PM PDT by bert ((K.E.; N.P.; GOPc.;+12 ..... Obama is public enemy #1)
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To: dfwgator

“Sell Messi.”

He wasn’t worth much when it counted.


18 posted on 07/30/2014 3:36:43 PM PDT by truth_seeker
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To: Objective Scrutator

Peron ruined Argentina. They should have been an economic powerhouse.


19 posted on 07/30/2014 3:38:07 PM PDT by dfwgator
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To: jimbo123

Happened again? What a shock.

20 posted on 07/30/2014 3:41:03 PM PDT by colorado tanker
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To: GeronL

>> “Venezuela also cannot pay it’s debt” <<

.
But they have oil to foreclose on.
.


21 posted on 07/30/2014 3:42:53 PM PDT by editor-surveyor (Freepers: Not as smart as I'd hoped they'd be)
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To: GeronL

“Venezuela also cannot pay it’s debt”

And you know what? We can’t either...


22 posted on 07/30/2014 3:43:59 PM PDT by babygene ( .)
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To: jimbo123

so nationalizing the oil fields, take over of pension funds and utilities didn’t work out so well for them? whoda thunk?


23 posted on 07/30/2014 3:46:39 PM PDT by blueplum
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To: jimbo123

Oh, so communism isn’t self-sustaining, Komrades 0 and Christina?


24 posted on 07/30/2014 3:47:24 PM PDT by Jane Long ("And when thou saidst, Seek ye my face; my heart said unto thee, Thy face, LORD, will I seek")
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To: jimbo123
"Vultures"

People who loan money and expect it to be paid back.

Don't forget to add that one to your urban dictionary.

25 posted on 07/30/2014 3:48:38 PM PDT by Mariner (War Criminal #18)
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To: Objective Scrutator
"Socialists can not be adequately be dealt with by democratic means".

Never have truer words been written.

26 posted on 07/30/2014 3:50:16 PM PDT by Mariner (War Criminal #18)
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To: jimbo123

Once the IMF and bankster’s b*tch, always the IMF and bankster’s b*itch.


27 posted on 07/30/2014 3:52:31 PM PDT by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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To: Paine in the Neck

“Save that headline. You’ll be able to use it again in a few years. It’s as reliable and predictable as the tides.”

Yup....’fraid so....


28 posted on 07/30/2014 3:53:34 PM PDT by Cold Heat (Have you reached your breaking point yet? If not now....then when?)
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To: Admin Moderator

Why was this removed from Breaking News? If this isn’t Breaking News, then what is?


29 posted on 07/30/2014 3:56:21 PM PDT by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: babygene

exactly


30 posted on 07/30/2014 3:58:23 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: jimbo123

Where’s Bono now to wave his hand and forgive debt?

Argentina, if you’re bothered by what you’re so cleverly, and officially, calling vulture funds, fear not. Just prepare for the replacement: no funds.


31 posted on 07/30/2014 4:03:34 PM PDT by OldNewYork
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To: OldNewYork
Where’s Bono now to wave his hand and forgive debt?

Probably in Holland going over his tax-free accounts with his banker.

32 posted on 07/30/2014 4:04:22 PM PDT by dfwgator
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To: jimbo123

These two grinning idiots are a testimony to incompetent, disconnected, and gibsmedat voters.

That, in addition to vote fraud and vote buying.

It astonishes me that such incompetent, blinkered jackasses lead major western countries.


33 posted on 07/30/2014 4:07:02 PM PDT by bkopto (Free men are not equal. Equal men are not free.)
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To: jimbo123
<Socialism> It's only money, just print some more. </Socialism>
34 posted on 07/30/2014 4:09:06 PM PDT by MrBambaLaMamba (Obama - "I will stand with the Muslims")
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To: MrBambaLaMamba
" It's only money, just print some more. "

That sounds like it would be Obama's advice. It's all just pretty pieces of paper.

35 posted on 07/30/2014 4:25:30 PM PDT by Truth29
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To: jimbo123
Funny...not a peep on most lib sites...

/ S

36 posted on 07/30/2014 4:33:21 PM PDT by Popman ("Resistance to Tyrants is Obedience to God" - Thomas Jefferson)
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To: dfwgator
The Videla regime had lots of promise to make Argentina into an economic powerhouse, especially with the brilliant Martinez de Hoz in charge of setting economic policy. One of the big reasons his regime failed was because some officers of the junta were opposed to privatizing much of the government functions, since these officers were nepotists and wanted to be guaranteed a cushy government job. Unfortunately, Videla and the other leaders either couldn't or didn't want to kill them.

The other problem was Bignone, who was stupid enough to get into a spat with the UK over the Falkland Islands and weaken the country over the resulting war. Bignone compromised with the socialists/unions too much in the aftermath of the war, letting the odious Alfonsin take control of the country. Argentina's been run by socialism ever since 1983.

It's very important for conservatives to read up on the history of Chile, Argentina, and several other Latin American countries dealing with socialism. If Admiral Barackbar or the Hildebeast give up their subtlety and push even harder for tyranny, we would do well to learn of their successes and failures.

37 posted on 07/30/2014 4:33:32 PM PDT by Objective Scrutator (All liberals are criminals, and all criminals are liberals)
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To: Carbonsteel
Marxists Bankers NEVER learn.

Fixed it for ya.

38 posted on 07/30/2014 4:35:09 PM PDT by Straight Vermonter (Posting from deep behind the Maple Curtain)
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To: Paladin2

omg they have some of the best too. They’re all socialist fools unfortunately!


39 posted on 07/30/2014 5:19:44 PM PDT by Roman_War_Criminal (Bible Summary in a few verses: John 14:6, John 6:29, Romans 10:9-10)
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To: Carbonsteel

The people of Argentina never learn...


40 posted on 07/30/2014 5:21:36 PM PDT by Hotlanta Mike (‘You can avoid reality, but you can’t avoid the consequences of avoiding reality.’)
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To: jimbo123

Socialism works.


41 posted on 07/30/2014 6:31:36 PM PDT by NormsRevenge (Semper Fi - Revolution is a'brewin!!!)
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To: jimbo123

I love going to visit the South of Argentina. BA is sketchy and I avoid at all costs. Next door in Chile things are going quite well.

One country embraced capitalism and private enterprise. The other embraced socialism and strong command and control government. Guess which country did which.


42 posted on 07/30/2014 6:32:56 PM PDT by Organic Panic
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To: jimbo123

bump


43 posted on 07/31/2014 4:36:33 AM PDT by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
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To: Organic Panic

Chile has a deal with China to mine large areas.....and several SA countries are following suite...it pays to watch their deals with China, as they move closer and closer to them economically. That communism is going to be a factor in a couple of years for Chile, Ecuador, and other SA countries. Socialism is already the government in Uraguay.

China needs those natural resources but once their tenacles are in a country it will be impossible to remove them.


44 posted on 07/31/2014 4:46:48 AM PDT by Kackikat (ELECTED officials took an OATH...Time to honor it....be a Patriot.)
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