A century ago, Argentina was one of the 10 richest countries in the world. Since then, however, a long series of economic crises have made it the only nation in modern history to regress to developing country status. CNBC’s Sam Meredith explains what is behind its boom and bust cycle.
Man it feels like Argentina’s economy nowadays is always either: on the verge of economic collapse, or in an out of control economic tailspin.
LOS DOS PAISES MAS CREIDOS,DE SUDAMERICA TERMINARON LIS MAS POBRES VENEZUELA, ARGENTINA.,DE ESTA NO TIENEN SALIDA.
The host seems happy with what happen to argentina, what kind of media you guys.
Argentine: "We are a first world country"
The World: ok…
Argentina has to stop feeding their appetite for foreign debts and stop borrowing money from the IMF and World bank as these institutions are like the commercial banks and they charge hefty interest rates. Currently, Argentina is paying 4.25 % compared to the 1.25% that the Federal Government of the US is paying. This situation will not happen to the US, as the US prints its own money and sells its debts to China. US can print money of whatever they want, even if the tax obligations to collect it, out weighs its debts as it occurred. In comparison, Argentina cannot print more money and nobody wants to buy its internal debts. US dollar is the traded currency of the world. Of course, Argentina can borrow to the Central Bank of Japan to finance its debts and the Japanese can manage and owes its debts by having them pay much cheaper interest rates. And all Argentina has to do is to export more of its product to Japan and in exchange Argentina buys lots of Japanese imports. The City of Tokyo Japan generates the highest GDP cities of the world, about $1.456 Trillion a year, and of course the Japanese can manage to buy Argentina debts in this regard.
Second, is to borrow to the Asia Development Bank of Asia in the Philippines. The Philippines is the largest depository of the Asia Development Bank amounted close to $1.456 Trillion dollars and Japan second contributor of over $500 Billion. During the Marcos era, the Philippine Maharlika gold was retrieved by President Marcos and transferred to the Forth Knox in Tennessee, USA worth $10 Trillion Dollars, and the rest of the gold bullion under the Central Bank of the Philippines worth $10 Trillion. Recently, the US returned worth $120 Billion to the Philippines. Today, the Philippines remains one of the poorest population in Asia because of corruptions and mismanagement of funds. Under, the new President Rodrigo Duterte, he is releasing some funds to built projects all over the Philippines and using its reserves to fund it. All borrowed money is just the media, but it is actually the Philippine money deposited by Marcos to some 1,000 largest banks around the world. The Philippines has plenty of money, Go to the You tube channel the Philippines and the Marcos gold.
Nationalism should help it and not leftist leadership. Look what happened to Venezuela. No Zionism in Argentina. It’s only good for them and not Argentines who are of Spaniard, Italian and Germans decent (non English European decent).
Atleast they have messi
"The World breath"
Argentina: HELP I NEED MONEY!!!
Nice thing is, Brazilians can cross the border and eat even cheaper steak. Best steak and pastries of the planet!
Yes. Argentina's economy is deeping down, why ? Because they're lazy socialists.
Sad, considering they have one of the prettiest women in the world
"Why does Argentina seem to be stuck in this pattern?" … EASY … Socialism.
Argentina is allways on the verge. Fix.
Waw que orgullo como argentino…
Jesus Christ!! Our hideous reality explained by gringos!!🤦🏻♂️🤦🏻♂️
All they have to do is cash in all that Nazi gold, and their troubles well be over with.
Argentina, socialista's = corruption, Left fascists……they ALWAYS are in a state of decomposing, but every few years it shows real
I'm amazed how well this guy avoided saying the problem is socialism, while explaining it was socialism. Worlds richest country- 40% for the depression. Then government intervention, welfare, more regulations. Boom the big government went corrupt and the country is starving. They put all the eggs in one basket and that basket had their leash
NYPD105PCT.LIVE.STREAMING.COM
Isn't like a couple years too late?
Argentinans should take the Falkland islands from the British and sell’em to Trump. Maybe he can find some… titanium?
It's ironic that CNBC/NBC talk about economic crisis when in the US they want the left party (democrats) to win and can't stop to criticize president Trump.