Janet Yellen’s comment this week that “higher bank lending standards” may make further interest rate increases unnecessary(or less necessary) caught my attention. Are they pursuing an “Induced Recession” policy sans further interest rate increases? Just let a Demand Collapse take care of inflation, keep the government money flowing to the favoured sectors of the stock market(Tech and giant multinational corporations), and voila, the Elites are happy and the Prols.... well, who cares about the Prols. We know the main goal is to find a way to keep the stock market chugging along, as this preserves the billionaires wealth like nothing else, and the rest of us be damned.
It’s getting harder and harder to separate the fly sh!t from the pepper in this world.
I spent a fair amount of time in Buenos Aires 20 years ago, really at least two dozen trips there over 5 years. It was just the start of the train wreck. The Peso was 4:1 ion my first trip and, if memory serves, eventually went down to 2.5:1. Nestor Kirchner was president, enacting all sorts of policies to reward his tribe, fleece the public (particularly soy bean farmers), and entrench he and his wife in power.
But, there was good too. Real estate was still traded in dollars. Even though the Peso held up pretty well when Kirchner began office, the citizenry wasn't fooled. Most had seen this act before with Peron. They put their money in real estate because they wanted assets valued in dollars. There was residential housing construction everywhere -- not new housing starts but remodeling of existing housing. May as well increase the value of those dollar-based assets.
There was serious neighborhood revitalization outside downtown (mercocentro). All the Palermo neighborhoods were being rehabbed -- Palermo Nuevo, Palermo Verde, Palermo Chico, Palermo Viejo, and probably a few I'm forgetting. The restaurants still served the best steaks in the world. Some favored Cabana Las Lilas, but I was always partial to La Cabrera. Argentine cows graze on the Pampas, which (I understand) floods and recedes yielding grasses with high chlorophyl content. Makes the steaks that much more delicious.
It saddens me to see what the Argentine citizenry has had to endure through 20 years of Kirchner thievery and misguided policies. The IMF has also played its part, though not as much as the Kirchners alleged. Still, Argentina was once a rival to the United States in terms of its trajectory a couple centuries ago. Unfortunately, we may be on the same trajectory again soon.
Hi Angus. Only paying subscribers can comment on articles...so you must be paid up. Do you have two email addresses? It may be that you're signed up as a free subscriber with one address and a paid reader with the other. Send us an email at research@bonnerprivateresearch.com (if we tried to make a buck ripping people off we wouldn't be in business for long...happy to resolve your issue as quickly as we can.)
You guys 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁𝗹𝘆 have the patience of Saints.
Between the tech-clueless geezers to the bullies who haven't checked their spam boxes to the whiners who whine if there are three words strung together that don't pertain to "finance or investment" - sheeeesh. I couldn't do it fellas - hats off to ya's...
People like Angus here are why I insulate myself from my adult softball customers with three levels of staff-LOL. Imagine trying to have a rational conversation with a guy whose team just lost a game because of an Umpire's bad call-LOL. Kudos to Joel, Dan and whomever else responds to these types of messages.
Janet Yellen’s comment this week that “higher bank lending standards” may make further interest rate increases unnecessary(or less necessary) caught my attention. Are they pursuing an “Induced Recession” policy sans further interest rate increases? Just let a Demand Collapse take care of inflation, keep the government money flowing to the favoured sectors of the stock market(Tech and giant multinational corporations), and voila, the Elites are happy and the Prols.... well, who cares about the Prols. We know the main goal is to find a way to keep the stock market chugging along, as this preserves the billionaires wealth like nothing else, and the rest of us be damned.
It’s getting harder and harder to separate the fly sh!t from the pepper in this world.
I spent a fair amount of time in Buenos Aires 20 years ago, really at least two dozen trips there over 5 years. It was just the start of the train wreck. The Peso was 4:1 ion my first trip and, if memory serves, eventually went down to 2.5:1. Nestor Kirchner was president, enacting all sorts of policies to reward his tribe, fleece the public (particularly soy bean farmers), and entrench he and his wife in power.
But, there was good too. Real estate was still traded in dollars. Even though the Peso held up pretty well when Kirchner began office, the citizenry wasn't fooled. Most had seen this act before with Peron. They put their money in real estate because they wanted assets valued in dollars. There was residential housing construction everywhere -- not new housing starts but remodeling of existing housing. May as well increase the value of those dollar-based assets.
There was serious neighborhood revitalization outside downtown (mercocentro). All the Palermo neighborhoods were being rehabbed -- Palermo Nuevo, Palermo Verde, Palermo Chico, Palermo Viejo, and probably a few I'm forgetting. The restaurants still served the best steaks in the world. Some favored Cabana Las Lilas, but I was always partial to La Cabrera. Argentine cows graze on the Pampas, which (I understand) floods and recedes yielding grasses with high chlorophyl content. Makes the steaks that much more delicious.
It saddens me to see what the Argentine citizenry has had to endure through 20 years of Kirchner thievery and misguided policies. The IMF has also played its part, though not as much as the Kirchners alleged. Still, Argentina was once a rival to the United States in terms of its trajectory a couple centuries ago. Unfortunately, we may be on the same trajectory again soon.
An Alternate Headline......Like trying to Land a Sea Plane on a Ice Covered Lake and the Fed is flying blind
I paid my subscription but you say I'm not a member. Is that how to make a buck in these hard times?
Hi Angus. Only paying subscribers can comment on articles...so you must be paid up. Do you have two email addresses? It may be that you're signed up as a free subscriber with one address and a paid reader with the other. Send us an email at research@bonnerprivateresearch.com (if we tried to make a buck ripping people off we wouldn't be in business for long...happy to resolve your issue as quickly as we can.)
Bravo!
You guys 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝘁𝗹𝘆 have the patience of Saints.
Between the tech-clueless geezers to the bullies who haven't checked their spam boxes to the whiners who whine if there are three words strung together that don't pertain to "finance or investment" - sheeeesh. I couldn't do it fellas - hats off to ya's...
People like Angus here are why I insulate myself from my adult softball customers with three levels of staff-LOL. Imagine trying to have a rational conversation with a guy whose team just lost a game because of an Umpire's bad call-LOL. Kudos to Joel, Dan and whomever else responds to these types of messages.