The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: An Insider's View on Argentina||Date: 10/8/2012 2:38 PM|
|Author: ascenzm||Number: 647698 of 744685|
It's a shame. This country was once wealthy and has so much going for it in terms of natural resources.
The president of Argentina has close economical, political snd personal ties with Chavez.
My country has been subject to a Chavization of daily life in no subtle ways.
We are not allowed to buy foreign currency anymore (traditionally the simplest way to save and fight inflation). It's a mortal wound to our international trade.
Property value was normally stated in dollars. Now with a big recession upon us we must transact real estate in pesos under a 25% inflation. The immediate effect, no one is selling, no one can buy, the construction industry is halted. Jobs loss is significant in one of the principal sectors of the economy.
With the foreign currency restrictions we can not import raw materials. Some industries are ceasing to be able to operate.
Foreign companies, no longer able to export profits are pulling out.
Medical supplies are also seriously affected and there are no local production to replace what we cannot import anymore.
Traveling abroad is now under close IRS observation, they tell you how much currency you can take away, nominately $100 per day to the US. They will sell you the dough and you must provide proof you spent it or they want it back. Local travel can be done using a card with all personal info in it. They can effectively track your movements and routines with it.
The national IRS has become the new Gestapo. People outspoken about policies get audited the bad way.
Much like Chavez, the president singled out a real estate operator who said that pesofication had frozen the real estate market for 6 months -when it happened - in one of her now frequent, a la Chavez, public addresses. He got his ass audited the rough way. His assets frozen and run out of business.
The government is also out to get any opposing Media.
What we see it our collective asses being dragged into a Soviet/Venezuelan/Cuban model. Crime runs unchecked, criminals get all sorts of passes. Victims have no protection. The Middle Class is being systematically dismembered one dude at a time, all losing their shirts in desperation. The state/power that be is funding the unemployed to stay like that but making sure that funds dependency is translated into political allegiance.
A scenario that closely replicates what happened to Venezuela.
The current government is currently composed of a large number of former terrorists fron the 1970s and their descendants.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|