Argentina downgraded FIVE notches !

[prepguide]

Fitch credit agency downgraded Argentina five notches and predicts that the country will default.

http://www.telegraph.co.uk/finance/financialcrisis/9707546/Fitch-downgrades-Argentina-and-predicts-default.html

[bacpacker]

That sounds bad. I have totally missed that they were in bad shape again. That is a huge downgrade, things must be close to collapse down there. It sure bears watching closely.

[Jimmy24]

Yes this is their 2nd go-a-round now. It got pertty bad down there just a few short years ago. Actually they just got a stay on a loan than was due and they can't pay. It will hold off default for a short while longer....but who knows for sure....

Jimmy

[Echo2]

That can't be....all my liberal friends say that they are the model for a speedy recovery after an economic reset.

Maybe it just a double dip recession....you know....like they predict here....:(

[bacpacker]

Iirc that was about a decade ago they went thru this same shit. First greece then spain italy. Last week france now argentina takes a big hit. Wonder whos next?

[Sniper-T]

Hate to say it... but y'all might want to have a quick peek in one of these things...

http://i1276.photobucket.com/albums/y471/KimPehrson79/DSC05889.jpg

[bacpacker]

Thats what worries me T. Plus last time I looked in one of those it broke. :)

[eagle326]

With my face B.P. the wife only allows stainless steel mirrors in the house. :o

[bacpacker]

Shit Id probably break those too.

[Echo2]

Hate to say it... but y'all might want to have a quick peek in one of these things...

http://i1276.photobucket.com/albums/y471/KimPehrson79/DSC05889.jpg

You're full of happy thoughts....:(

[Sniper-T]

Sorry Pal... but we are watching you guys... we will tank shortly after you guys do.

[Echo2]

Misery loves company....

[NWPilgrim]

So it looks like defaulting to IMF and confiscating private accounts allowed them to float along for another 10-12 years. The only lesson our politicians will learn is that they REALLY NEED to grab our obscenely capitalist 401k accounts so they can coast several more years as well. A friend that went through the Brazil collapse said the govt even confiscated private safe deposit box contents.

Wheeee! This stealing stuff is fun and easy!!

[Sniper-T]

I think if the gov't started with Hollywood, and then went on to the 'professional sports figures' all of your debt will be paid, and you'll have money in the bank.

[Willie51]

They won't go after Hollywood....our administration has too many friends there.