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alofatti
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"They never said let the currency slide... they said devalue it and control this devaluation. That is what Cavallo could of done... but they got rid of him. "
Good riddance!
And no, they said to devaluate and let the market decide the right price of the dollar.
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spartak
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quote:
Originally posted by Fez
Thanks, Spartak... I am sorry but sometimes the fact that I am a 18 year old male sometimes influences my debating style... anyways I took you off my ignore list. |
Thank you Fez. I appreciate your apology. In return I apologise for deliberately setting you off. I'm very impressed by the way you came back at the end - so what can I say - except - You won!
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alofatti
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Fez: "Why so? Because he had a plan? "
His plan was a complete crazyness. He was desperate because he was seeing his model crumble before his nose, everyone knew that, even those beurecrats of the IMF. The convertibility was an absurdity, and all his desperates maneuvers to stop the inevitable (the default) only promoted a continued recession.
Lots of economists are now arguing that the deficit in Argentina was mostly caused because it privatized its social security system (another IMF "suggestion") and of the external debt interests.
Fez: "Infact they said the devaluation had to be controlled. And first off the Duhalde adminstration did the entire devaluation incorrectly. "
The story was completely backward. At the beginning, the devaluation was (to a little extent) controlled, but then the IMF imposed, as a requirement for continuing the negotiations, to completely free up the dollar so it would stabilize in its market price.
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alofatti
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"If the privatizations were carried out in the proper manner everything would of been better off in the end. Privatization was absolutey necessary. The convertibility actually worked for ten years... I would of just tweaked it like he was trying to do. "
The convertibility was not a bad thing at the beginning. Thanks to it we were able to stabilize ourselves from the hyperinflation. BUT, it shouldnīt have endured more than three years. Because of the 1 US$ = 1 Arg $, our currency became extremely expensive and so we lost competitivity with foreign markets.
Privatization was not absolutely necessary, instead of state corruption now we have corporate corruption!
Fez:" No it didn't!"
Well, what can I say you... It was.
The corollary of all this is that I am willing to acknowledge some of the responsibilities of the crisis, the complicity of the local government was necessary for this rape.
The thing is that the IMF also has heavy responsibilities in this, and they know it, and now they are trying to defend themselves by criticizing the country.
I want to be optimistic and just say that they did this because they are incompetent and not because they really wanted to sink us (they do have reasons for this)...
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Giancarlo
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Los Angeles
Apr 2000
time: 02:21
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quote:
Originally posted by alofatti
The convertibility was not a bad thing at the beginning. Thanks to it we were able to stabilize ourselves from the hyperinflation. BUT, it shouldnīt have endured more than three years. Because of the 1 US$ = 1 Arg $, our currency became extremely expensive and so we lost competitivity with foreign markets. |
That is why a devaluation of say 10-20% would of been necessary.
quote:
Privatization was not absolutely necessary, instead of state corruption now we have corporate corruption! |
Traditional leftist hot air. Privatization was necessary to curb the inefficient nature of state owned industries. But the privatization was done in wrong ways. Now Spanish companies are losing an arm and a leg because of the inefficiency of the government. Spanish companies are normally very efficiently runned unless they get screwed by some overbloated state.
quote:
The corollary of all this is that I am willing to acknowledge some of the responsibilities of the crisis, the complicity of the local government was necessary for this rape. |
Apparently through your talk you put all of the blame on the IMF and the US. I admit the IMF made one mistake and that was lending money to Argentina. It shouldn't of even gave a dime, if it knew that the money was going to end up in swiss bank accounts. That is a mistake. But Argentina's political system is faulty and pathetic.
quote:
The thing is that the IMF also has heavy responsibilities in this, and they know it, and now they are trying to defend themselves by criticizing the country. |
They have very few responsibilities in this at all. It is your pathetic government and political apparatus that should be entirely to blame. They threw away $140 billion dollars given to them. They didn't spend it right. You continue on with your hot air and ignore the facts. Argentina should of set up a adequate tax agency, an independent commission to prosecute corruption related charges, and a liquidity model based on that of Chile. Without that your country might aswell sell itself to investors because the economy will never grow again. Without neo-classicist reforms you will be marking your own grave.
quote:
I want to be optimistic and just say that they did this because they are incompetent and not because they really wanted to sink us (they do have reasons for this)... |
The political apparatus of your country is probably the biggest blame for all problems facing the country. Corruption, misusage of government money, graft... oh the list can go on and on... yet you continue to blame the IMF.
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red_jon
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Uni of Wales Swansea
Oct 2000
time: 05:21
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I've mapped everyone's scores from this thread. See my 'cut out and keep' thread.
 Attachment: polypolicompass.jpg
This has been downloaded 39 time(s).
Last edited by red_jon on 26-08-2002 at 08:37
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alofatti
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Fez: "Traditional leftist hot air. Privatization was necessary to curb the inefficient nature of state owned industries."
Traditional rightist hot air.
Fez: "That is why a devaluation of say 10-20% would of been necessary. "
You speak with such an authority.Too bad that your presumed "god", the IMF, disagrees with you...
Fez:" They threw away $140 billion dollars given to them."
and to think that we have already pay them $ 200 billion dollars.
Fez:" Without neo-classicist reforms you will be marking your own grave. "
Thats all we did during the 90's!
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alofatti
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and changing a little bit of discussion.
You have 18 years and you are in highschool, you are in a technical school, right? What is your specialization? Do you plan to further study in college and what (of course, I donīt think that you will ever consider studing here...)?
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Dan Severn
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Wellborn, Texas The Warrior Dennis Miller
May 2001
time: 23:21
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quote:
Originally posted by red_jon
I've mapped everyone's scores from this thread. See my 'cut out and keep' thread. |
Where am I? Where am I?
Are you prejudiced against me because I'm Texan?
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Dan Severn
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Wellborn, Texas The Warrior Dennis Miller
May 2001
time: 23:21
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Sorry, Redjohn. I was confusing this with another political thread.
Economic Left/Right: 3.12
Authoritarian/Libertarian: -3.67
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26-08-2002 03:46
It happens more often than I imagine...
As long as you are putting your hormones to good effect it doesn't really matter. 
). And Fez, I was joking, I dont really kill consevatives, I just think that American consevitives are too nationalistic, helps Ariel Sharon kill innocent pallistinians, and they forget about the seperation of church and state, which I treasure.
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