"Default cannot be allowed to lapse into a permanent condition or the Republic of Argentina and the bondholders, both exchange and holdouts, will suffer increasingly grievous harm, and the ordinary Argentine citizen will be the real and ultimate victim."
That's a pretty low bar for Argentina. We cannot allow default to become normal!
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Argentina, to be perfectly honest, had this coming. Argentine citizens are already victims. The default would merely be the latest surface condition to bubble up from the rot within.
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that's about as witty as if I take the Sudan crisis and call it "The Free Market at its best" but ok
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I mean considering that argentina, venezuela, et al were doing oh so well under neoliberalism before, but I don't think TheBlaze Dot Com level reporting is gonna be too hep on actually delving into the nitty gritty of that, sooo
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(Post snipped by janitorblade. Spam combined with astute social commentary?)
of Argentina and the bondholders, both exchange and holdouts, will suffer increasingly grievous harm, and the ordinary Argentine citizen will be the real and ultimate victim.