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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Dr. Engali's picture

I thought gold was the only thing that went down. That's what CNBC tells me anyway.

Clayton Bigsby's picture

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

kchrisc's picture

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

SemperFord's picture

Naw, a good woman goes down too


Edit: Meant to reply to Doc Engali.

Darth Raider's picture

Meat Packing Cliterarty

-Pink floyd

Darksky's picture

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

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

mayhem_korner's picture



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

Gromit's picture

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.

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%".

EscapeKey's picture

annualized rate of loss of 100%... 

You never go full retard.

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!!!

Jason T's picture

That's Marvelous.  : )

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.

Son of Loki's picture

Has AAPL recovered from its 40% plunge yet?

XOFnews's picture

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

DIgnified's picture

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

GrandPoobahObama blessed her prayers.  

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

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

W T F II's picture

Just a 'healthy pullback' signalling compelling buying opportunities

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.

kchrisc's picture


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


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.

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!

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

Yen Cross's picture

    Looks like Argentine peso is trying to form a base. (heavy sarc)

Element's picture

only 99.5c today ... maybe next week

100pcDredge's picture

Japón no es Argentina?