Argenina 10 years ago

[BodyPiercingByColt]

I was doing a search and found this thing on the survivalistboards.com.
I am a (very) little familiar with what happened in Argentina ten years ago, but this piqued my interest: http://www.survivalistboards.com/sho...d.php?t=145698

I don't have a mrlockandload account, but would someone be able to tell me where I can find more on this story? http://mrlockandload.com/What_Will_WROL_Look_Like

Thank You

[XDseb]

it was pretty ridiculous...

nobody, including my family could get access to any money they had in banks as basically everyones assets were frozen to try to prevent further collapse. people protested, rioted, people died, president resigned and escaped the country, new president came in, resigned within 7 days. it took the country a long time to recover and in a sense it is still recovering.

http://en.wikipedia.org/wiki/Argentine_economic_crisis_%281999%E2%80%932002%29

[Ripon83]

Some things are written about it on blogs like that one and others. Wiki has a decent write up on it worth reading to help give you some input. Two things I read that stick in my mind....

a) On "Friday" everything was bad but normal, and on Monday the banks were closed and no one could get to their money.

b) The middle class of the nation was considered 55% before the crisis and 10% after. That 45% didn't join the upper class either.

Things to ponder. When your nations debt exceeds all of its gross national product in a year it starts to get a little scarier than when it wasn't. Though we have been trekking towards that for a long time we just happened to jump up on it fast during the last few years.

Those who taking "prepping" seriously will be fine in such a situation; and those who don't ... well there is what left the middle class in Argentina.

[Ripon83]

ooops

[XYZ]

There's a book titled Surviving The Economic Collapse by Feral. It's a manual/story about what happened. Decent read from a first hand account.

[gnatnoop]

i have a L&L account but the site was shut down for reasons unknown to me... I cannot get in


found it...

http://ferfal.blogspot.com/2008/10/thoughts-on-urban-survival-2005.html

[Fjold]

Read about Zimbabwe's economic collapse 5 years ago, where it took 10 trillion dollars to buy a loaf of bread. They use the US dollar now as their standard of currency.

[Kid Stanislaus]

There's a book titled Surviving The Economic Collapse by Feral. It's a manual/story about what happened. Decent read from a first hand account.

The correct spelling is Ferfal, not Feral.

[XYZ]

The correct spelling is Ferfal, not Feral.

Thanks ohsmily

I kid. I kid as his last name is important to find the book or you can use the title of the book to do an Amazon search.

[jyo]

In a previous life, I used to sell motorcycle exhaust systems down Argentina way---business was decent with this one fellow ordering 20-30 at a time. Suddenly, the orders stopped and I did not see or hear from for many years---when I finally did get to talk with him, I asked what happened? He said their money fell off a cliff and he would have to sell one exhaust system for like $15,000 of their dollars---that was the end of that!

[Kid Stanislaus]

Does anybody here know what the situation is down there today?

[Ripon83]

Stagnation

I should not say because I'm not there and have not been in some time, but everything I reads indicates they are stagnated in a lot of ways like Japan had been for some time. The middle class has not recovered and before the crisis was over 50% - after it was about 10%

Does anybody here know what the situation is down there today?

[problemchild]

Bank Of America was one of the key players in the downfall.

[Ripon83]

Player?

Would you call them a player or victim. As I recall they lost and wrote off billions. Their stock took a deserving hit and I don't recall anyone bailing them out.

Bank Of America was one of the key players in the downfall.

[kmrtnsn]

I was in Argentina during the hyperinflation of the early '90's and the conversion from the Austral to the Peso and the pegging of the Peso to the dollar. You didn't have to be Alan Greenspan to see the coming collapse.