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Meanwhile, In Argentina

Tyler Durden's picture




 

It seems that bubbles can pop? No matter how much a nation tries to destroy its economy, raise its inflation, and devalue its currency - equity market corrections occur... Argentina's MERVAL index (among the best performing equity markets of Q1) is now down 12% in the last 4 days (since we discussed this tongue-in-cheek comparison to Japan) - that is an annualized rate of loss of 100%... Of course, if you were to ask the Argentinian politicians, this drop is actually a rise - and we note that the official (and unofficial) exchange rate has not budged during the last few days.

 

 

As the world stays with the Nikkei...

 

Charts: Bloomberg

 

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Mon, 05/13/2013 - 18:35 | 3558329 Dr. Engali
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I thought gold was the only thing that went down. That's what CNBC tells me anyway.

Mon, 05/13/2013 - 18:41 | 3558348 Clayton Bigsby
Clayton Bigsby's picture

keepin my eyes wide open for that credit anstalt moment - just hope I know it when I see it

Mon, 05/13/2013 - 21:16 | 3558818 kchrisc
kchrisc's picture

I bet that most don't even know what that is, Sigh!                     hujel

Mon, 05/13/2013 - 18:39 | 3558336 SemperFord
SemperFord's picture

Naw, a good woman goes down too

 

Edit: Meant to reply to Doc Engali.

Tue, 05/14/2013 - 19:54 | 3562741 nodhannum
nodhannum's picture

That comment just sucks!

Mon, 05/13/2013 - 18:39 | 3558343 Darth Raider
Darth Raider's picture

Meat Packing Cliterarty

-Pink floyd

Mon, 05/13/2013 - 20:08 | 3558622 Darksky
Darksky's picture

<-- should we shout?
<-- should we scream?

What happened was just a post QE dream.....

Mon, 05/13/2013 - 18:42 | 3558351 mayhem_korner
mayhem_korner's picture

 

 

On the bright side, the MARVEL index is still riding high off of the Spidey and Hulk movies...

Mon, 05/13/2013 - 18:42 | 3558352 Gromit
Gromit's picture

http://www.buenosairesherald.com/article/130965/buenos-aires-stocks-lower-on-blue-dollar-uncertainty

From the Buenos Aires Herald - the fall in the Merval is due to "uncertainty" in the unofficial (blue) dollar rate.

The moneychangers or "Cuevas" have cooperated with the government and curtailed their activities - the blue rate is unchanged form friday afternoon at 10.03.

http://www.dolarblue.net

Mon, 05/13/2013 - 18:45 | 3558353 Long_Xau
Long_Xau's picture

ROFL @ dramatizing and finding a way to use the words "loss of 100%" for any trivial market move downwards. A 2% loss in a day would be about a 99.9993726% loss annualized (365 days), so again, a "loss of 100%".

Mon, 05/13/2013 - 18:47 | 3558367 EscapeKey
EscapeKey's picture

annualized rate of loss of 100%... 

You never go full retard.

Mon, 05/13/2013 - 19:53 | 3558578 DIgnified
DIgnified's picture

I told you banana.

Mon, 05/13/2013 - 18:48 | 3558370 brunoaa
brunoaa's picture

Stocks are not necessarily a good inflation hedge. Depending of its balance sheet structure a company can show a profit which is inflationary (think slow moving stock financed by shareholder equity for instance) on which it will pay tax, and will not survive in the long term. On the other hand supermarkets with negative working capital are killers!!!

Mon, 05/13/2013 - 18:49 | 3558371 Jason T
Jason T's picture

That's Marvelous.  : )

Mon, 05/13/2013 - 18:49 | 3558372 tmosley
tmosley's picture

Of course, they are selling equities so they can buy Argintine bonds that pay 4%.  Wouldn't want to go to jail, after all.

Mon, 05/13/2013 - 19:07 | 3558436 Son of Loki
Son of Loki's picture

Has AAPL recovered from its 40% plunge yet?

Mon, 05/13/2013 - 19:12 | 3558457 XOFnews
XOFnews's picture

So tired of what low-level employees decide to do.

Mon, 05/13/2013 - 20:01 | 3558601 DIgnified
DIgnified's picture

This cannot be real.  As we can see right here,:

http://carlosbaradello.files.wordpress.com/2012/04/obama-kirchner-6-apri...,

GrandPoobahObama blessed her prayers.  

And to have anything but positive happen after?!?  What type of sorcery is this?

Mon, 05/13/2013 - 21:05 | 3558789 Milestones
Milestones's picture

What a standout pair to draw too-- idiot Kirchner and our own step n fetch 3rd rate punk. Marraige made in heaven.       Milestones

Mon, 05/13/2013 - 20:21 | 3558663 W T F II
W T F II's picture

Just a 'healthy pullback' signalling compelling buying opportunities

Mon, 05/13/2013 - 21:00 | 3558776 Freddie
Freddie's picture

ANyone know if I can get a better deal on one of those Doug Casey Haciendas in N Argentina?  Please someone ax'e Simon Black or Doug for me.

Mon, 05/13/2013 - 21:22 | 3558837 kchrisc
kchrisc's picture

Ruh-roh!

I read something a while back which was of the opinion that Argentina would be the igniter of the financial implosion.

Something about them being such buffoons and less connected than say the Japanese, but just connected enough.

I don't know, but just thought that I would share.            hujel

 

Tue, 05/14/2013 - 02:39 | 3559376 CrashisOptimistic
CrashisOptimistic's picture

A NY court ruling is pending on when they must make payments they cannot make.

In fact, I think it's overdue.

Tue, 05/14/2013 - 08:47 | 3559820 machineh
machineh's picture

Yep, the Black Widow is gonna have a hard time spinning a fresh default as bullish, just before Argentina's October elections.

Get ready for a new 'macho latina' campaign, with even campier vampire make-up to give her courage!

Wed, 05/15/2013 - 18:27 | 3566785 kchrisc
kchrisc's picture

I say that they get the Iraq or Libya treatment, but I don't think their is much left for the banksters to steal.       hujel

Mon, 05/13/2013 - 22:42 | 3559078 Yen Cross
Yen Cross's picture

    Looks like Argentine peso is trying to form a base. http://www.google.com/finance?q=ARSUSD (heavy sarc)

Tue, 05/14/2013 - 04:06 | 3559443 Element
Element's picture

only 99.5c today ... maybe next week

Tue, 05/14/2013 - 03:38 | 3559426 100pcDredge
100pcDredge's picture

Japón no es Argentina?

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