Argentina just suffered the 2nd-biggest crash since 1950 for any stock market — and the nation is again on the brink of a financial crisis
Argentina at the turn of the 20th Century was wealthier than the United States. Immigrants from all over Europe came to the country to make their way. But a century of crony capitalism has undermined the once extremely prosperous country. Now, after a slight reprieve the hard core crony capitalists might be coming back.
(From The Business Insider)
Investors fear that if Macri doesn’t win a second term in October, the opposing team of left-leaning Alberto Fernández and his running mate — the former leader Cristina Fernández de Kirchner — will undo the progress Macri has made to regain the trust of investors in Argentina and abroad.
…Investors are now fleeing the country’s assets in hoards, leading industry watchers to question if default is on the horizon.
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