Is Argentina heading toward economic crisis - again? | CNBC Explains
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- Опубликовано: 5 авг 2024
- 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.
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#CNBC #Argentina #Economy
Lending your money to Argentina is like flushing your money down a toilet.
Or Greece
@@jimmytimmy3680 now that was pretty uneducated
Lol
why they do it then?, argentina ask for a credit of 10.000 milions uss and gonna end up paying 100.000, they end u ppaying way more of what they ask, the interest keep going up so ensws up in default, and the pother questions is where is that money going??? where??? cause that money is not in argentina
Please cover a video on Hong Kong economy vis a vis Chinese economy.
De la Argentina te vas 20 días y cuando volves cambió todo. Te vas 20 años y cuando volves no cambió nada.
Igual que Costa Rica solo que en el caso de nosotros es peor.
@@douglassalazar3522 Lo dudo. A menos que costa rica se las arreglara para entrar en crisis económicas cada 20 años, destruir varias veces su propia moneda y dedicarse a exportar cerebros.
@@MolotovKiller No ha cambiado nada por la aberrante corrupción que hay y más en instituciones estatales y de politicos, CR nunca avanzó por la cochinada de gobiernos de los partidos de siempre.
@@douglassalazar3522 Costa Rica igual sigue siendo de los paises mas felices del mundo, tan mal no estan
@@douglassalazar3522 Yo pensaba que CR era el mejor país de latinoamérica. Ahora, Chile es una mierda.
I thought Argentina was always in an economic crisis. Poor people.
Nope they had an income per capita higher than the US at the end of XIX century....and until the great depression Argentina was among the 4 more developed countries measured by income per capita.... However the last 80 years were a real tragedy.....
I can't blame you.
@@Chepicoro we got first screwed by the radicals (something like socialist) in 1916, then by a military strike (they were like fascist) in 1930, and later we got the cancer that was Peron (fascist with a populist character) in 1946, and since then my brainwashed country could never became prosperous again, he got Menem who was a fresh breath, but nothing more.
The main problem is that no Argentina politicians dare to lower public spending, because that will essentially kill their political career. That's the thing, when the citizens receive benefits from the government, many of them would be very reluctant to let it go in the name of "national recovering", so every time the government propose to lower public spending, the people would protest, calling for revolution and impeachment - the vicious cycle keep going around, politician keep raising spending to earn votes, and people keep voting for the one promise to not cut spending.
If there is any politician who actually love Argentina as a nation, he/she would go ahead with cutting public spending even if it means his/her political career is done for.
@@vanlao6367 you are naive. They will not touch the public spending BECAUSE POLITICIANS ADJUDICATE CORRUPTS CONTRACTS TO THEIR FRIENDLIES AND POCKET THE BIG $$$$$$$$$$$$$$.
This is not new for Argentina! It’s always in this stupid economy crisis cycle!
@tk421missing
Marshaaaa... the moment she recovers the $$$$ is paid for the debts n corruptions.
Jibril Saneko in 2001 it was Argentina , 7 years later it went global , so maybe Argentina crisis will indicate another global one , like a pattern
the whole latin america
@@MohamedAbdi-jw2te every crisis is different. I think Argentina's economic problems are not coincidence...it looks like the US and IMF is to be blamed. IMF has long history of making countries suffer around the globe....who wins from this !??? The big American banks of course
I never understood why call it crisis. now most argentinians are losing money, but a 20% is getting better. Is just a internal warfare between 20%, 60% and the most poor 20%.
argentina may lose money but that 20% is getting good . that is why president macri got 40% of votes(20 is winnin more and 20 is mostly ideological or didnt lose to much)
It appears to me that Argentinians deliberately miss their economics class
Keanu Bartolata me as Argentinian , I feel so sorry and sad to see that people vote for a party founded by a dictator that stole a lot of money .
We are the only country to have fallen from first world economy to developing ...
@@Thebester3 bue flaco vos si faltaste a clase de historia jsjs
@@pablosel3857 le respondi a alguien mas ¿ pero ok, mandale mecha habla
@@eugeance8834 Que nada de lo que dice es falso, Argentina se destruyó desde que tomó el poder el dictador neonazi tocaniñas de Juan Domingo Perón.
euge ance lo que digas
CNBC International: Is argentina heading toward economic crisis?
*glass breaks*
The sun in argentinian flag: _I AM THE ECONOMIC CRISIS_
Messi did not pay the taxes properly 🤣
10 socialists dislike this video
Trust me, if you live here you’ll evade taxes too... It is impossible pay all of them 😣
15 socialists dislike this video.
@@mauriciokevincaimi4159 these crashes aren't coincidental....they are made ....most people don't understand how finance works .... financial markets even less .if a currency crashes it ain't because of some economic development....most time somebody is behind the crash.
Messi is Catalan not Argentinian... 😒😒
It’s always the same thing here in argentina, the government spends more than what it earns with taxes(which are huuge by the way) , and solves the issue by printing money and asking for loans. Our future is as nice as mud.
Is the same because you voted de same: peronismo!
Regards
Hahaha, not me, just my stupid compatriots. We are dummed.
And when they vote for the opposition, the opposition themselves call them "peronistas" and act the same as the "progressive" socialist party
I really love how CNBC recognised the RUclips audience and put in effort on their videos
Argentina is heading toward a HYPERINFLATION
IM ON A HIIIIIIGHWAY TO HEEEEELLLL 🎶🎵🎶🎵🎶
Heading? It went from 16 peso to 60 in less than 2 years. Not quite Zimbabwe/Venezuela but give it some time.
So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...
Do one on Pakistan. They are also looking at a IMF bailout
That's too bad....IMF has destroyed a lot of countries around the globe
@@kirilmihaylov1934 The US*
@@kirilmihaylov1934 imf has had saved a lot of countries repeatedly.... Some countries are just meant to... U know....
@@legitwords5788 you don't know how IMF functions
@@kirilmihaylov1934 because I don't agree with u huh?
Ahh the country looks like my ex spend spend spend and refused to do anything’s had to divorce guess I was imf to Argentina
Argentina is the wife/gf you dump and forget she ever happened
There are not heading, they already there.
In Macroeconomic courses, Argentina is always the only example of the term 'growth disaster'. How it went from the top 10 to an economic disaster, and how there are almost no other examples like this.
Please cover Asian Financial crisis of 97-98
Soros screwed over Asia and was the biggest winner in the end. What he did wasn't technically illegal but holy shit was it a dickbag move
@@shatteredstar2149 indeed. To think that he's being revered as philanthropist. Smh
Do a video of their neighbor. Chile and how their economy has been and how the future seems for the country. Apreciado👌🏽
totaly , also shows how even with diferent goverments we have the same issue . is not a political problem
I mean sure Chile is doing good economically but it has its own issues
Chilean economy have few "scrooge"owners,
Doesn't matter when you ask this, the answer is always YES.
Government of Argentina took away Reserves of their Federal Bank. Main cause.
It looks like some falls in currencies and different financial markets are done on purpose by US run institutions....most people don't understand this game because they are stupid. Protectionism cannot devalue a currency or crash a bond market....
Kiril Mihaylov for leftists is always USA empire fault...
No!!!! The main cause is for printing more money than it has! This causes inflation!!!
They have always done that. what's new? that's what socialists do
The main cause is the fiscal deficit, taking away reserves of the Central Bank is just an effect.
'Heading towards'? Isn't Argentina always like this? 🤷♂️
That headline has been true for the past 80 odd years.
I used to think we had it bad... But this is on an entirely different level
We had quarter of trillion% of inflation since 1935, what did you expected?
The problem is that each president destroys what the previous one did, they don't continue a model. In addition, military dictatorships (5) indebted the country and destroyed industries. So the governments that made the economy grow also had to restore almost everything.
totaly
... - again?
What do you mean? Argentina has been and still is in an economic crisis. Wasn't Macri supposed to have rescued Argentina with a Wall Street playbook? Didn't work, huh?
This crisis cannot be solved in four years. It will take an entire generation leading hard lives for them to learn.
@@NotKimiRaikkonen it can be solved in a month, the thing is that yet Macri had a lot of help from other countries he did structural changes that were either insufficient or simply wrong. Just having a lot of money doesn't solved anything.
So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...
Great historical clip!
More than half of the county is in deep poverty entire families don’t have food to eat 😔
A Nii Why though? They’re one of the biggest food exporters. Have so much resources. Don’t understand why are they poor?
@ government corruption. People pay 60-70% in taxes yet have broken storm water drains flooding their streets. The streets are littered with garbage, no clean up teams but every single street is covered with 20ft posters when election time rolls around. The local government will give a 'choripan y gaseosa' to the poor people to paint their slogans on every single street pole in the city. The place is such a mess, I have never seen such incompetence and arrogance in my life. I feel bad for the minority of hard working Argentinians who are weighed down by their corrupt over lords and their army of brainless underclass scum bucket pawns. Most Western people who travel their don't see the real Argentina.A bottle of Malbec and a steak dinner is not Argentina. I really fear for that nation coz its not far from Venezuala economically.
Hola para los argentinos, me gustaría saber que opinan sobre el nuevo gobierno, consideran que las cosas van a mejorar?
@@DarckAngel11 Van a mejorar por 6 meses (rebote) y después en la segunda mitad del año se va todo a la mierda
@@silviaferraro876 consideras que la ideología del nuevo gobierno es como la de Venezuela? Eso dicen, pero me gustaría saberlo por parte de alguien de allá.
What a brilliant idea to explain Argentina's economic defeat directly from London, UK. Well done CNBC, nobody remembers Argentina X UK war.
Article on India's economic history
Its not a big deal . Eventually each person adapts on living in economic collapse . You start making groceries at the begining of the month because of inflation . You postpone the deadline of your bills so you can gain a little interest during that time by purchasing dollars and selling it again the last day . And you improve your skills of negotiation on every price because they are variable . For the few people that can manage it , it has a good side .
thank you for sharing this useful data! Greatly appreciated
Yes! It is! ... and you coming with us as well
Kindly create one video explaining about the currency valuation and how exchange rates take place and their effects on economy of a country.
Also explain about derivatives and volatility, if you know something about it!
You can google many such videos👍
@@olivergilpin Yes I can. But I kinda like the way CNBC explains the stuffs with details. But thanks anyway. 👍
Kindly make a video on Pakistan economy
😂😂😂
Yes 👍
😂😂
😂😂
@@lavish4094 what's so funny about the Pakistani economy?
Cover Bolivia current political crisis, please!
Ivan Aranibar agree
Politics Destroyed them, most every state is going to be Destroyed by politics 😢😢
Politicians?
Chile, Venezuela, Argentina
Those are fairly large nations.
Oz jak 😂 😂 “ they’ll pump you in the ass”
Add india to that list as well
They Get Elected, because they Give you No Choice, either them or a More Fuck up politician. Look 👀 at America Politics None of them is going to help. But cause more Problems no choice just B.S.🤬🤬🤬🤨
The long rope given by imf to Argentina is baffling
If it was a poor Asian nation I fail to see them getting so many chances and messing it up
Heading? They have been in economic crisis for a century.
Would look into economies like Jamaica, Bahamas and Uruguay please?
You should do a video on the economic history of Bolivia, as it has been the country in South America that has grown the most for the last decade but at the same time is going through a social crisis.
Very “Democratic” when an entire countries economy is at the will of foreign investors.
Well, it is very democratic indeed, since it were the democratic elected officials from Argentina who decided to take the loans in order to maintain the continuity of the public expenditures...
BS. The country is socialist and corrupt. The marxists are the ones who ask for IMF money.
Im argentinian, it isnt true, but at the same time, if you ask for money you have to pay back, and if lenders set conditions before hand, you have no objections.
@@tube.brasil not really(I'm sure they didn't hate it before, but do now because is a way to make people thing it's not their policies fault), the ones that asked the loans weren't Marxist, they however were socialist.
Capitalism facilitates the hiring of employees, production and free market of companies where it continually favors GDP for a country to grow economically ... if we “abolish capitalism”, and you prefer a more conservative policy where people are not free of power create a company, because the government in addition to undermining competitiveness, makes all citizens pay very high taxes and unnecessary taxes as invented only to grant and offer "free goods and services" ... while production and the free market is declining and does not grow ...
Now going the other way, look at the more developed countries, they are ALL capitalists, and the funny thing is that the poorest are from the left and even from the center like Macri.
First it began with the dictatorship of 30 ', then Peronism, then the other dictatorships until Videla, then Menem, La Rúa, CFK, Macri and now Los Fernández.
Macri was the option to save Argentina, the only thing he had to do was eliminate the left-handers in Juntos por el Cambio. We lost Macri last year to replace him again by thieves K. Although he is also left-handed, he should make self-criticism and that Patricia Bullrich has the command. Macri screwed up putting Pichetto in.
Imagine if Argentina had taken the political path of Germany for example? With tremendous territory, low population density, different types of climates, varied resources. The last decades we went from crisis to crisis thanks to the first government of Peron and the failed attempts to make justicialism disappear.
The years passed and in the end we have not learned anything, we are a complicit and responsible society for everything that happens in the country, today we continue to vindicate corrupt politicians and failed economic models.
Argentine history repeats itself over and over again as if it were a conspiracy to keep this country and its citizens eternally in political and economic instability.
The main enemy of this country is Peronism / Kirchnerism. They are creating generations of poor, ignorant, the country is split in half, it is the working people against the socialist style of government and their sadly called "thermos heads" who ate a verse, a story, people indoctrinated by criminals Cristina Fernández de Kirchner, the most repulsive being there can be in this beautiful land (and for those K fans, I'm not a macrista). 6 months later, they are melting the country incredibly. In one province there were like 900 million in reserve and now there are 9 thousand and something left, in addition to all the other problems.You realize that a large percentage of the people are ignorant when you see Alberto and Macri fighting the elections. Now to last 4 more years, I hope that by 2023 we will have learned.
The day will come when we get rid of the stupid rift and fanaticism, and we decide to fight together as a united people.
Obrigado
The panning of that helicopter audio ❤
imf keeps lending America's money to Argentina. loll
Yung Kim we coming for you next you keep running ur mouth.
WE ARE LEGION
Please do a episode on pakistan's economy!
What economy
I'd like to get some coverage on Ethiopia (history and prospects) as well as their proposed stock market.
Could you talk about the situation in Peru. How is it possible that even though they are going through a political crisis, they keep their econony growing. Thank you
I feel like there’s gonna be that one day where there not gonna bail out Argentina. Hopefully it doesn’t turn out to be Venezuela.
relax ....So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...
@isak Thats turkey. Your problem not mine.
I am from Argentina and we are going through difficult times
sorry my bad english. :)
You guys should cover honduras!
Heading?
It's been there
I thought they were already in one.
When is Argentina not in an economic crisis?
@@saswatrath609 never lmao we haven't had any growth since 2002 but no one seems to care. We are too busy watching football and eating choripan.
@@blustgt8814 Bring back Mauricio Macri. He'll fix Argentina.
So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...
The crises has already hit Argentina. It started a few years back. No surprise.
We don't have economic growth since 2011.
01:33 Free CNBC stake, good for you reporter!
Hopefully the fact that Argentina hora bankrupt Will push interest rates to higher levels!!!
Our hearts go to the people of Argentina. Indonesia also experiences every 15- 20 years. greedy politicians are everywhere
Weren't they already in one?
Covering the Israeli present&future economy should be interesting
Waw que orgullo como argentino...
I really loved the way you simply tips to the yesterday to today
I feel sorry for those, guys they will be both by who knows?
Those csgo items gonna inflate hard again huehuehue
But seriously,this Argentina economy inflation is a big problem.
It's happening in most countries down there in South America. People pretend that nothing is happening until nothing is happening.
Have you covered Romania? No one talks about what's going on with their economy and their political situation within the EU.
Are sure about everything this guy is telling you? Just because he is presenting this story, you have to believe?!
@@ionpielaru4455 No one is saying I believe this video or not, the request was to comment about the limited reporting of what's going on in Romania within Europe. Also, I'm not sure of your educational background, but most of what is being reported in this video is fact. Nothing here is "opinion-based"...Take care my dude...1
I was born in London to Spanish parents. Let me provide some key facts that I have observed and experienced in Argentina.
-Way too much focus on art, sexuality, looks, fashion and entertainment. The news is 50 percent entertainment and 50 serious information.
-They are still stuck in the Italo-Franco style of education focusing solely on the the glory days of old Europe.
-There are NOT any institutional private corporations for the youth to implement a career.
-There is mob mentality and out of control chaos especially during football matches.
-Lack of diversity in school, thoughts and teamwork based on gender, race, nationality, ethnicities, etc.
-Open racism often towards non-whites (my wife is from Thailand) and I saw it with my own eyes how they treated her.......In the Argentine's mind, it's funny and no big deal.
-Although, they dress really well and modern, there is a lack of seriousness in country building, education and reform.
"The World breath"
Argentina: HELP I NEED MONEY!!!
yeah-
Has ever been without a crisis in the last like 10 years?
other countries approx 10 defaulting on their debt soon. Interesting to know why and how did they survive so long ?
We have experience xD
Venezuela, what is happening there right now? its too silent lately.
The Messi effect
Messi is now a Spanish citizen.
I think this was meant to be a pun. Messi, Messy?
I'm a huge fan of Messi. Great informative video Indeed.
The 10 year cycle isn't that unusual. While not as severe, things in the US weren't rosy during the mortgage crisis (2008 ish), dot-bomb (2001 ish), post-Gulf War recession (1991 ish), and Stagflation (like most of the 1970's to the early 1980's?). That's roughly a ten-year cycle of feast and famine.
Can you cover the current economic crisis in Lebanon, which has resulted in the biggest wave of demonstrations' in the country's history as well as the resignation of the government
Yes !
Please analyse Chile economy. thanks
Cover economic scenario of india
it's bad
@@superbenbenhahaha nO No ItS noT beCauSe boLlY WooD Is RiSiGn , So eCroNmY Is RiSing !t TOO ! !
ANTI NATIONAL !!! *grabs stick*
So the moral is never lend and Argentinian money? Was that a correct summary of your report; seems straight forward from the facts made in the video
We're always on crisis. The news would be Argentina having an actual good time.
Make this type of video on Pakistan
A "please" might help get it done
@@georgehancock2307 English is not his first language. He never meant to be rude or demanding
@@sivaranjinisenthilkumar6822thanks for clarifying
I am not rude
@@MuhammadAhmed-qh7ut you could say please first
@@MuhammadAhmed-qh7ut don't worry only Canadians apologize for snow. Please forgive my jokes regarding please. 🙊
Are u still having doubts about that?
Please do more videos on Indian Economy
CHUPALA CNBC! Aguante La Patria Grande! Saludos desde Argentina para toda américa latina!
The host seems happy with what happen to argentina, what kind of media you guys.
What's new?
Stop lending them money, let them put their house in order
So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...
How you head to the place you are already?
What about north African as a whole ( Egypt, Morocco, Tunisian etc..)
& if I may Jamaican?
Cover pakistan
Argentina does not need to borrow any money. It can eliminate it private central bank and issue debt free money. It can pay off all debt in one day. With that, there is no reason to bow to the IMF or to worry about foreign investment. Therefore, a major reason for Argentina's problems is that the are being manipulated by private banking interests.
But they’ve won two world cups🏆🇦🇷🏆
By cheating
😂🤣
0:27 there's a guy wearing GUUCI!
In my experience, Gucci is very popular with the poor.
😂
Maybe a clone.
You can buy Gucci sunglasses from Ecuadorians on Avenida Corrientes for 100 peso. "no es falso senor"
I'm will to bet a $100 that's it's some fake stuff bought on the streets.
Could you do a video about India and it's IT boom
Argentina has two states - in crisis or between crises.
I won't invest a single dime there, nothing will change already a lost cause..
i hope noone does. our corrupt politicians will last alot less time if they cant get extra cash
I seriously doubt you have any money to invest anyway so no worries lol
@@DanCreaMundos yeah, you're right unfortunately..
@@leosabat4636 So Its populists that save the day once more, closing a deal with creditors saving the country of the 9th default. Saving the population of the coronavirus with only 6000 casualties while brazil chile and peru are a bloodbath. No civil unrest, no riots and with a deal for produccing the Covid vaccine in our country for the whole Latin Americas. Damn Populists!! you´ve done it again...Fy
What about Chile?
Corruption....corruption & more corruption.......that's what is killing us.......
Can you do russian economy vid please?👍
Answer: Corruption
Short answer: Socialism in particular National Socialism even more particular Peronism
if you call corruption making money easier for the sector you represent yeah is alot of corruption. we have politics that get 55% of votes and stop growing the country , and the others that represent big money factions .
we are screw no matter what.
This was actually product of neoliberalism but people like to talk out of their ass
Bienvenido a Argentina brother jej
Why don’t you take a look at the history of the Guatemalan economy? It’s size, compared to the rest of Central America, and its currency, el quetzal. Excellent video, by the way.
Why? I can tell you why. Peronismo and corruption
Peronismo and corruption is the same!
Crisis in Argentina, classic
They think there 100% European.
@@heraldomedrano6993 No, but the majority have european heritage mostly Italian. Example the actual president Macri is argentinian but his father was born and rise in Rome.
@@homertime93 they think there above every body else. They have now body but to blame them self.
Whole world brother... Why only Argentina 😂😂