On The Insider: Britney's Bikini-Clad Top 10
BNET Business Network:
BNET
TechRepublic
ZDNet
TalkBack 28 of 35:
Next »
« Previous
NOT -- Ask any Argentinian if this is wise
Argentina followed this economic model during the 90s and had a very hard crash in 2002 from which they still have not recovered.

For they have done just what you said, IMPORT everything and sell only what they could make profitably, followed this economic model for over 10 years while Mennen was in power... and during 2002 had a terrible crash.. I stopped by Buenos Aires for the last two weeks of May 2002, and no credit or debit card could be used on any ATM, it was terrible. I had to go to Montevideo Uruguay to obtain some cash. Business man (CEO types) were begging in the streets for change to take the metro home.

Went back twice during 2003 and was there again during January of 2004. Only this year did I see any kind of recovery. Yet still you would see beggars on the street, something that I never saw in down town Buenos Aires since I first stopped there in 1975.

The real problem is spending. When a country spends more than they can save or make, than the country becomes poorer. When a country imports more than it makes for a long period of time (like my native country), unless it has some financial backing (foreign aid) chances are, its economy will dwindle into nothingness or its inflation and/or devaluation will kill its economy (35 years ago 1US = 10 pesos, now with all the devaluation suffered by the US dollar 1US = 8 000 000 pesos) thats the future of this kind of mentality with the Pound the Euro being the bench mark.


After over 60 years did the country I come from export more than it imported this year, yet only corporations made money out of the transaction, all others were left to rot. And this is the reason I am here in the US. Yet it seems the US may follow these steps towards a poorer middle class.

The way US is being handled at present, it will likely set it up for a huge economic crash in the future (3-7 years from now). This can still be avoided, but the way its shapping up, and while the focus is not on the economy but on other matters, chances are it may happen.

Ask any Argentinian if its a smart move.
Posted by: Uralbas   Posted on: 10/03/04 You are currently: a Guest | Members login | Terms of Use
Reply to Story Reply to Message

Alert moderator to an offensive message

Subscribe to this discussion via Email or RSS

Oh No!  Hemlock Stones | 10/01/04
boo hoo  doh123 | 10/01/04
Where ignorance is bliss.... tiss folly to be wise.....  tootse | 10/01/04
RE:Where ignorance is bliss.... tiss folly to be wise.....  jwschull@... | 10/04/04
toot toot tootse  Outside T. Box | 10/04/04
they hire them  V Sanders | 10/02/04
ture, but...  cuppachino | 10/02/04
Blue Light special in aisle 5....  ibabadur1 | 10/01/04
Greed is only one factor  Chad_z | 10/01/04
Radical suggestion - Hire Americans  Chad_z | 10/01/04
Right On. We Don't Need to Overcrowd This Country  brenthawkinsmd | 10/02/04
Grow up!  cuppachino | 10/02/04
Radical Suggestion-shop someplace besides Walmart  Paco20 | 10/03/04
No kidding  voska | 10/04/04
I guess it's off to Elbonia ...  Eggs Ackley_z | 10/01/04
You can be sure after election the party in power ....  redstone | 10/01/04
americans are becoming a minority  V Sanders | 10/02/04
Why would you want ot slave labour?  voska | 10/04/04
lol - and it is only day 1, out of cheap labor already  V Sanders | 10/02/04
Out of cheap labor? I don't think so! I know your kiddin but  Squawkbox | 10/02/04
When does the executive suite...  ordaj@... | 10/02/04
As a recent Legal Immigrant to the US (45 days)  Uralbas | 10/02/04
ESL classes?  AbsolutelyNot | 10/04/04
Welcome to the global economy folks.  nanunanu | 10/02/04
Can we get some of that globalization locally?  ordaj@... | 10/03/04
Globalization for US rethinked - 2 routes to take....  redstone | 10/03/04
Why protectionism won't work  interlocutor | 10/03/04
NOT -- Ask any Argentinian if this is wise  Uralbas | 10/03/04
Because it has not happened in the US....  redstone | 10/03/04
Why OFFSHORING won't work  ddmattison | 10/04/04
Ricardo's other theory.. IRON LAW OF WAGES..  thetruth_z | 10/04/04
Bogus!  Outside T. Box | 10/04/04
Train & retrain American workers first!  TurboFord | 10/04/04
Why not just hire...  BitTwiddler | 10/04/04
Americans should move up the ladder  interlocutor | 10/04/04

What do you think?

SponsoredWhite Papers, Webcasts, and Downloads

advertisement
Click Here
advertisement