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Argentine Gubmint Seeks Control of Private Pension Funds

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Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby deMolay » Tue 21 Oct 2008, 19:53:55

This is not good news for those who worked and saved for their old age. Could you see this happening in the USA or Canada? http://www.bloomberg.com/apps/news?pid= ... 12kxRxMeqI
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Re: Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby RdSnt » Tue 21 Oct 2008, 22:48:19

HAHAHA!!! You think the money is there for US pensions? Consider the corporations that have gone belly up and pushed their pension obligations onto the government books. You know, the government that is irredeemably bankrupt.

deMolay wrote:This is not good news for those who worked and saved for their old age. Could you see this happening in the USA or Canada? http://www.bloomberg.com/apps/news?pid= ... 12kxRxMeqI
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Re: Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby RdSnt » Tue 21 Oct 2008, 22:54:54

Expect panic in Argentina and a good chance of a collapse of their currency.
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Re: Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby pogoliamo » Wed 22 Oct 2008, 05:52:23

... And again!
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Re: Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby eXpat » Wed 22 Oct 2008, 13:20:40

RdSnt wrote:Expect panic in Argentina and a good chance of a collapse of their currency.


No panic so far, everybody in Arg thinks that this admistration are a bunch of thieves, so not surprise there.
Today the Merval (local stock market index) went down more that 16% (yikes!!! linky ) and Spain went down as well since Telecom (-33,96%), Banco Macro (-27,33%) and Edenor (-25%) were hit by the Argentian market.
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Re: Argentine Gubmint Seeks Control of Private Pension Funds

Unread postby deMolay » Wed 22 Oct 2008, 19:50:09

This is the kind of move that can touch off civil war. It has in the past.
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