Counterpunch
The Return of the Coup in Latin America
Manuel E. Yepe, lawyer, economist and journalist, and a professor at the Higher Institute of International Relations in Havana
Tuesday, April 26, 2016
Manuel E. Yepe — The Return of the Coup in Latin America
Counterpunch
The Return of the Coup in Latin America
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2 comments:
So some appraiser allegedly putting a few extra 10's of thousands on a home for sale in the US in 2006 is somehow leading to "coups" in South America toilet paper challenged hell-holes now 10 years later?
I'd like to see how you connect those dots...
1. Low US rates posts crisis sent financial capital (hot money) scurrying around the world in search of return.
2. As contagion spread from banking to finance to economics, economies and trade faltered, and hot money ran for safety.
3. The supply glut resulting from economic contraction was not only disinflationary but affected the price of commodities, including oil.
4. Many economies, especially EM's, took a hit as assets were dumped when hot money fled to safety.
4a. Less developed economies dependent for funding imports with foreign reserves were hit when commodity prices collapsed, since that was their major source of funding imports.
5. EM's governed by leftist government found themselves under attack by neoliberal forces as their economies weakened and general discontent arose.
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