tag:blogger.com,1999:blog-2761684730989137546.post7786877748447726329..comments2024-03-28T20:28:01.733-04:00Comments on Mike Norman Economics: Detroit is the new hip?mike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2761684730989137546.post-23397464878698358312011-07-04T00:27:14.147-04:002011-07-04T00:27:14.147-04:00i wiki'd it and it appears it all centers arou...i wiki'd it and it appears it all centers around economist Cavallo, Menem, and neoliberalism which worked for 1990 to 1995 but then deteriorated eventually.<br /><br />I just was trying to see if they were cutting the deficit while massively privitzing and then barfed since they had no government spending to support jobs and the middle class.<br /><br />The middle class in argentina was created and destroyed within 2 decades.<br /><br />oh wellgoogleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-61502091747603799702011-07-03T19:35:47.338-04:002011-07-03T19:35:47.338-04:00Not up on Argentina.Not up on Argentina.Tom Hickeyhttps://www.blogger.com/profile/08454222098667643650noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-52540588176179011792011-07-03T15:10:18.325-04:002011-07-03T15:10:18.325-04:00I just got finished posting about this on Calculat...I just got finished <a href="http://www.hoocoodanode.org/node/13196#comment-1914521" rel="nofollow">posting about this on CalculatedRisk</a>. Detroit has a lots of problems, but it is making progress.<br /><br />In addition to the energetic, young, creative folks, there has been another round of investment in downtown by civic-minded businesses. It's good that someone is picking up the pieces after capital has moved to places with cheaper labor and newer infrastructure.Detroit Danhttps://www.blogger.com/profile/03718490473585220856noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-26361063994223899162011-07-03T14:25:44.454-04:002011-07-03T14:25:44.454-04:00No way Argentina had a balanced budget. As far as ...No way Argentina had a balanced budget. As far as I know they 'borrowed' dollars from the central bank to fund large deficit spending. In the end, they couldn't maintain the currency peg and the peso collapsed.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-57754061610634355962011-07-03T14:15:52.618-04:002011-07-03T14:15:52.618-04:00Does anyone know if Argentina either faked their f...Does anyone know if Argentina either faked their fed/gov spreadsheets like Greece or if they truly balanced their public deficit in the early & mid 1990's prior to the global investment rush during the mid to late 1990's ?<br /><br />@ TOM :<br /><br />I had a flash of sliver of thought about Argentina during the 1990's -<br /><br />In addition to the pegged currency policy, I am wondering if they were going through some sort of deficit cutting and debt relieving puritanical phase ?<br /><br />They sold the water, electricity, toll road, and other municipal utilities. They must have done something to attract tons and tons of private investment ( which later cratered ). The monies received lined Menem's pockets and the richest families, but maybe ...<br /><br />did they "balance the budget" in the domain of Argentine Federal treasury with the proceeds ?<br /><br />did this present the false confidence in investor attraction to the neoliberal Argentine 1990's ?<br /><br />By balancing the budget it only moved the bubble firmly into the real economy of Argentina and there was no Federal domain to offset and take the shock when the pop came.<br /><br />The shock absorber would have been the currency fluctuation as well as government elastic monetary policy - instead they had to default.<br /><br />Can anyone find out if Argentina balanced their "federal" economy to present false spreadsheets to the world so as to falsely attract investors, etcgoogleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.com