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IN THE NEWS:
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GREENSPAN WARNS AGAINST BUDGET DEFICITS- Cutting Social Security benefits among recommendations made by Fed chief.  February 25, 2004 - By Marc Gongloff, CNN/Money
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NEW YORK (CNN/Money) - Fed Chairman Alan Greenspan warned Congress Wednesday to move quickly to fix the nation's swollen budget deficit -- including measures that could cut some future Social Security payments -- to avoid even bigger problems for the nation's economy down the road.   Greenspan, in remarks to the House Budget Committee, noted the recent surge in the deficit is particularly dangerous, coming less than a decade before Baby Boomers begin drawing on federal retirement benefits.  He proposed some solutions that would reduce future Social Security benefits to retirees, including raising the ages at which retirement benefits are paid and changing the inflation measure used to index the payments.
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http://money.cnn.com/2004/02/25/news/economy/greenspan/index.htm?cnn=yes
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EDITORS NOTE:  I hate to say that I told you so, but I told you so.  The questions then becomes, should the government decide to cut your Social Security benefits or give you so-called full benefits IF you wait until age 85 (or whatever) - Do you have another plan?  The first of the so-called Baby-Boomers will start tapping into Social Security Retirement benefits as soon as 2008.  According to Greenspan himself, we cannot have that -there is not enough money to pay for it.  So, here you are, the good citizen working and earning an honest living, paying your taxes which include Social Security - and now it is a real possibility you cannot have it (or at least not at 65 and perhaps not at all if it is determined you make too much - read the fine print about other sources of retirement income and how that may determine how much if any social security benefits you might receive).  It is ironic that the middle-class always contributes the bulk of taxes, and end up getting very little benefit from it.  Perhaps they should change the payroll deduction description to read: SOCIAL WELFARE WEALTH DISTRIBUTION TAX.  In addition the disclaimer should read:  WARNING - If it is determined you have other sources of retirement income, you will never see this money again.  In the dying words of the wicked witch from the Wizard of OZ:  What a World, What a Cruel World.
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SPECIAL REPORT 2004: ARGENTINA - The Real Story
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I have to admit that I was warned not to go to Argentina by a number of people.  Some said, do not go - there is a rampant crime problem.  The people are arrogant and prejudiced.  I was also told that the country is in economic chaos, and basically a basket case.  In fact, I read a recent report on Argentina by a male - female duo, which offers their report from a well known International publishing form, that put the fear of god into me about leaving my hotel (they advised not to take taxi's in the street, the driver will kill you and take your money, etc., etc., rampant crime, take an armored truck, and so on).  The honest truth is that I am glad I did not listen to any of them.  Although still pulling itself out of an economic mess caused primarily by the politicians, the people themselves are probably one of the best and most interesting natural resource, and some of the friendliest people I have met - with an incredible zeal for just living (food, wine, the arts, tango, theater, dogs - they love dogs in Argentina, and literature are the daily pursuits).  On the topic of literature, by the way and not to go off on a tangent, there are probably more bookstores in Buenos Aires that the majority of other Latin-America cities I have visited.  That should tell you something.
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Argentina has somewhat of a very similar history to the United States.  Complete with cowboys and Indians, lots of European immigrants, and free land grants by the government to anyone that was willing to show up in the 1800's (single men got 100 acres and married men got 200 acres - those were the days).  Interesting enough, someone told me that an Argentine is a South American, who is really a transplanted Italian secretly wishing he were British.  As odd as that might sound, it about sums it up (and this is not a negative statement by the way, just a way to explain the Argentines to so extent).  In this regard, about 35 percent of the population could trace roots back to Italian immigrants that landed in the past to do the construction work, probably about 20 percent or so can trace roots back to one of the English Isles (England, Ireland, Scotland and Wales), with the rest coming from where-ever else.  Meaning, the Spanish may have discovered the country and controlled it for a while, but the Italian and English influence is deep rooted everywhere, with a bit of other Europeans sprinkled in.  One comment I read in the same report I referenced earlier stated that Buenos Aires was a cheap imitation of a European city (and that the author prefers the so-called real thing).  European city yes, in terms of both architecture and ambiance.  However, Argentina is a true melting pot and something unique on its own - plus a heck of a lot cheaper than living in Europe.  To each his own I suppose.
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The burning question that you have on your mind is of course the economy.  So, I will tell you what I found out, and will offer my take on the situation.  But for just a bit of a preface, I have to tell you I am a bit odd in that anytime I visit a new place, I try to stay off the tourist track.  I like to take the subway and bus system (at twenty cents you cannot beat it), I like to speak with the average man in the street and I like to go where most tourists would probably never venture - into the real world of the real people that live there.  I even spoke with the police on the street outside of the main police headquarters, and I found them to be very polite and professional.  In any event, when you visit someplace new, my advice is to go out and meet people.  Do not be foolish of course and do not take chances with personal safety.  But, people are people, no matter where you go and speaking with them can give you more information than whatever comes out of a politician's mouth or what you find in the newspaper (or a real estate agent trying to sell you something also).
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In a nutshell, my sense was that the politicians and some of the bankers basically sold the country out (sound familiar?).  As one Buenos Aires taxi driver told me (who was a former white collar accountant, now driving a taxi cab albeit still wearing his accustomed white shirt and tie), we were arrogant and God has punished us for our arrogance.  In other words, most citizens of Argentina thought nothing ever negative could happen to them because they were not like any other Latin-American country (after all, they were a well educated, and according to some, perhaps even a European country that just happened to be in South America, or this was the thinking anyway).  They let the politicians operate un-checked and paid no attention to many of the policies and things that were going on.  That has changed and the middle-class especially, are no longer asleep when it comes to what the government is doing, not doing and if fulfilling the slightest promise, or not.  They also no longer trust any of the foreign banks, as it was the foreign banks that for the most part walked away from their responsibilities, not to mention outright disregard for local banking laws in terms of liquidity and other issues (and the politicians let them do it).  In fact, while the Argentines do not dislike Americans per say, they do feel the US Government also refused to put the pressure on US Banks that were operating in Argentina to comply when some of the economic problems unfolded.  Interesting enough, in terms of solvency and trust, the local banks seem to have weathered the storm fine.  That had to, they could not simply walk away in the same way foreign institutions could.
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On the issue of real estate and general cost of living, I would say Argentina is a mixed bag, some things are a bargain and some things are certainly not.  Upper end real estate and cattle ranches are NOT on sale.  While prices have come back down from highs in the pre-devaluation period, they are still very expensive in comparison to other cities and countries.  For example, it is difficult to find anything in the exclusive Recoleta area of Buenos Aires for less than US$250,000 or so.  However, you can still find decent apartments in some of the other well heeled middle class areas of the city starting at about US$40,000 for a one-bedroom and go up from there.  So, I would say for high-end luxury apartments, Santo Domingo (Dominican Republic) is still a bargain compared to both Buenos Aires and Santiago (Chile).  Middle class housing in decent working class neighbors (one that does not have a Gucci Store) is probably about the same in the US$50,000 to US$85,000 range (for a 2 to 3 bedroom middle class home or apartment).  So it really all depends.  However, just as in the Dominican Republic, while devaluation of the currency has for sure hurt the local middle-class and working poor, foreigners with Dollars or Euros will find the country a fairly inexpensive or reasonable place to live.  One thing very different about Argentina in comparison to the Dominican Republic is that prices in Argentina are almost always reflected in Pesos (the local currency) and no attention is paid to the exchange rates in terms of pricing.  Although, in all fairness, while the Dominican Peso has been going up and down like a ping-pong ball over the past 18 months, the Argentine Peso has pretty much remained at a stable 3 to 1 exchange rate, so this has some influence.  However, I think the real reason is that the Argentine Government has put pricing controls in place and neither the US Dollar nor US tourism is a concern.  In other words, there really is no US influence in Argentina economically speaking, and prices have to be kept to where local citizens can afford to buy.  So, going out to have some excellent steak and wine at a local café in Buenos Aires will cost you about US$25 for 4 people (you read correct, I did say four people).  However, for locals who still mentally equate things when the Peso was 1 to 1 with the US Dollar, we are talking about AP$75 (or what is US$75 in local terms if you can understand the concept).  In other words, the meal I just described cost AP$75 Pesos, but in US Dollar equivalent it is US$25.  However, for citizens of Buenos Aires who obviously have not had any salary increases to keep pace with the devaluation, this is a seventy-five dollar meal, speaking in terms of previous exchange rates.  Hotels as well are a bargain if you stay away from the US hotel chains such as Mariott, Hilton and Sheraton that price a room at anywhere from US$180 to US$275 per night.  These are not the real local prices.  In Buenos Aires, as an example, you can find a very nice Hilton quality hotel room for US$65 up to US$125 for a suite.  So, there are tourism bargains right now in Argentina, and you will find Buenos Aires to be very reasonable (if not downright cheap) for you the foreigner with Dollars or Euros.
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On the subject of banking, while the government has recently lifted the restriction on withdrawals from Peso accounts (you could only take 2,000 pesos per month maximum from your savings account before, now you can withdraw whatever you want) - there still is the freeze on US Dollar accounts.  So, banking in US Dollars is not an option at the moment, although I do believe we might see the restriction on Dollar accounts also removed if not this year, then in 2005.  Obviously if someone were to decide to live in Argentina at the moment, you might consider a small local peso savings account, while conducting your US Dollar (or other currency) banking in another jurisdiction.  Generally speaking, even though unemployment stands at about 24% at the moment, the longer-term economic outlook is what I would call cautious optimism.  Things are looking up, there are more help wanted ads in the newspapers than before and the economy has improved by about 20% over the last 18 months, although arguably enough it has some way to go.  So, my overall assessment of Argentina, especially Buenos Aires (if you want to live in fairly inexpensive large European flavored city) as a place to live - is positive.  However, in such an environment, one needs to consider other liquid investment options outside of Argentina right now and play it by ear, as they say, for the future.
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READERS WRITE IN:
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Another freedom fighter - Good views they are slowing the USA economy and infringing on our rights!!!! They search me every time I fly!!!!  It amazes me how stupid the USA can be.  This will only slow things including the economy or should I say what economy.  I also spend a lot of time in the DR and love it!!!!  It is nice to see someone with the same views as myself.
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EDITORS REPLY:  Thank you for your positive comments.
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Another Reader Writes:
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JOHN SCHROEDER IS BACK!!!!!  HOURAHH! ! ! !   I love your newsletters, Signed, A Reader in France.
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EDITORS REPLY:  I feel like someone in Billy Graham's audience, when he said - You Are Loved.  Thank you for the support.
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Another Reader Writes:
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Hi John - I was really glad to get your newsletter, thank you.  I was almost afraid the US government somehow got to you, (laugh).  John, you know, this government of mine (US), has turned everyone so paranoid with all these new laws and crazy regulations. It has affected me too. I really want out, but the noose is tightening by the month. I am so ashamed of this country. This is not the USA it used to be.     And to all the Patriots out there twisting around in your chairs while reading this.  Open your eyes before it's too late - your passivity (hope that is a real word) is what is ruining this country.   And YES, there are better places than the US now, quit fooling your selves. God help me to make it to one. Through my investments surrounding commodities mainly gold), I am getting closer to being financially able to SPLIT. Thanks John, thank you so much.
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EDITORS REPLY:  Thank you for the letter and positive comments.  However, I only took a vacation, but I will try and offer some advance notice next time as we have gotten a large number of letters just like yours from readers who thought some negative event might have come my way.   
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Another Reader Writes:
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In response to READER COMMENTS printed in last issue:
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Comments From Last Issue - If I recall correctly, Oklahoma City was done by an American!  So what will the US government do next, fingerprint and photograph every American every time they leave their house?
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THIS Reader Reply:  Yes, eventually. RFID technology makes it entirely possible to track a person constantly wherever he may be, and dirt-cheaply at that.  It is already to be Federally mandated for sheep and cattle safety. People will doubtless be next, starting with embeds in passports and drivers licenses, to likewise make them "safe".
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Comments From Last Issue - I felt like a total criminal waiting in line to be vetoed. What I don't understand is what is the point of getting a visa? Surely it's up to the US embassies in the respective countries to do a complete background check before issuing a visa, right?
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THIS Reader Reply: The U.S. has not distinguished itself by thoroughness in that duty. It will be recalled that the U.S. Embassy in Saudi turned over blank visa forms to a Saudi national and then turned their backs to go about more important business of ... whatever else it is they thought more important than wondering who was entering the country.  If you are offended by being treated like a criminal, consider this: you need live with it only while visiting temporarily, whereas the great bulk of resident Americans are now stuck with it until they die or emigrate, and will pay an "emigration fee" if possessed of a half million or more in net worth. (At the rate the dollar is dropping, that will soon be everyone in the country apart from those on welfare.) Count yourself lucky.  If other countries retaliate by making extra-territorial travel less inviting to Americans, they are also much less likely to go out and look around. After all, only 10% of Americans even have passports - From our Governments point of view, the fewer the better.
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Comments From Last Issue - And how will it deter terrorists? 911 would have still have happened.
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THIS Reader Reply: Perhaps not so easily, but our borders are as porous as a sieve. All this is about the government giving the public appearance of doing something, even if the appearance vastly exceeds actual effect.  It's no different than the now-legal invasion of email, which anyone with an IQ above room temperature would strongly encrypt if its contents lent any suspicion of nasty business. Government, like an amoeba, is capable if only primitive and clumsy actions. It is obeyed only because it sustains a legal monopoly on life-threatening coercion.  And as Lord Action said, power corrupts, and absolute power corrupts absolutely. One wonders why we ever objected to relatively trivial inconveniences and costs encouraged upon us by mad King George.
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EDITORS REPLY:  Thank you for writing and sharing your views, many of which I tend to agree with. 
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Another Reader Writes: 
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Mr. Schroder - Your newsletter is getting more and more silly by the day.  You comments on security are strange.  America is the toilet bowl of the world and gives visas to every Tom Dick and Harry.  9/11 would NOT have happened had the terrorists not been given Visas.  Brazil does not have terrorists targeting it and millions all over the world wanting to invade it--US does.  If you feel like a criminal when you visit the US--don't!  You are not wanted.  We are already one of the most overcrowded and most alien-invaded country in the world.  The garbage still keeps pouring in, even if they were forced to eat fecal matter, they will still want to come to America.  Take me off your list, please.  I have had enough of your silly ways.
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EDITORS REPLY:  Well, thank you for taking the time to share your views and we will of course delete your address from the distribution list (as requested).  However, to offer some rebuttal:  I find it interesting that immigrants are referred to as garbage.  With the exception of the Native American Indians, EVERY CITIZEN of the United States can trace their roots to one or more members of their family that were so-called immigrant garbage.   I suppose the foul smell of garbage wears off after the second or third generation, enough to make one forget that one's own ancestors were so-called garbage at one time too (mine were Northern European garbage, to be exact).  On the events of 9/11, while I agree the US State Department was probably one of the most mismanaged and undisciplined departments of the US Government, I also tend to think that improved controls on visas alone would not have stopped someone or some organization from doing some harm somewhere.  In fact, to go overboard and demeanor every single visitor to the US is not only a foolish public relations policy, in my opinion, but it will not stop the crooks or terrorists as much as you might think.  I mean, let's face it, the bad guys do not play by any rules.  The US is a big country.  People can slip in a number of ways without passing through any official immigration stop.  During WWII the Germans inserted spies into the US from German U-Boats off of Long Island at a time of very heightened security (we were at war after all), so where there is a will, there is a way.  In any event, getting back to the immigration issue, as I write this I am somehow reminded of all the Mexicans who pick fruit in California for five dollars a day, and the Guatemalans that clean office buildings and bathrooms for minimum wage (and often enough less).  I wonder how many of the third generation, non-garbage smelling decedents of immigrants are willing to do the same should the US decide to deport all of these people?  On the idea of being silly, as it were, I often think human beings are silly in general.  I wonder if God really did the right thing giving man dominion over the animals and the planet?  To each other, we humans are arrogant, indecent, prejudiced and destructive - but that is just my opinion, I could be, well, perhaps just silly.
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Another Reader Writes:
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Hi John--Great to get your newsletter!  I hope the hassles for foreigners coming to U.S. will abate this coming year when we get another president! I'm counting on a change. One of your readers is an American spending part of the year in Sweden. I plan to go there this summer for a while if I can find a place to stay. Would it be possible for that reader to contact me? I would love to get info about the country in advance and that person sounds like the one I should talk to. Thanks.
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EDITORS REPLY:  I would like to help, but the problem is that these comments you are referring to have originated from letters sent in directly to the BBC.  They were posted on the BCC website and were part of the news article we referenced.  Apparently many people were under the impression that these were our own reader's comments, when in fact it came from the general public as a whole (letters sent to the British Broadcasting Corporation in London).  However, what I think is interesting about this is, there would seem to be a very large pool of people out there who think and feel the same way many of our readers do. 
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Another Reader Writes:
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John, Thank you for continuing to write your very informative newsletter. I look forward to reading it carefully when it comes.  Please excuse my ignorance in the following. I plan on moving to the DR when I retire (shortly) and keep looking at all the real estate that is for sale in the DR.  I don't understand why the prices of these properties have either stayed the same or have increased slightly over the past year. I would think because of the exchange rate US$/Peso, that the dollar would have more buying power there, now than it had a couple of years ago. The properties that I'm speaking of are all listed in US currency.  I'm referring to the properties and homes for sale that are listed on Internet sites about the DR.  What am I missing about this situation?  Along the same lines, I've heard that in order to get the best deals - that you have to find 'local' real estate companies that don't try and market to the US. I've visited numerous places (mostly remote, secluded areas) of the DR and didn't notice any local real estate companies. Is my assumption correct about 'finding the best deals' through 'local' companies? And if so, how would I go about finding some of these local companies when I come there again?  Again, I really appreciate your newsletters. Keep up the great work.
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EDITORS REPLY:  I think it is true that any properties marketed to foreigners or tourists are going to be over priced in any country.  I believe this to be true even in countries that speak English, never mind another language.  The true real estate market and true prices are to be found when you find the properties marketed to the locals.  Obviously this becomes harder to do when you do not speak the language.  The answer to this usually is to find perhaps a driver that is bilingual or what you might call a gal or guy Friday to help you poke around and speak to the locals to find out what is for sale, who the local brokers are, etc.  Some properties might be listed with a local agent or attorney (which is probably more common in rural areas) and some might be for sale by owner. 
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On the issue of the Dominican Republic, I would say that real estate prices have gone up slightly in some cases, and you do have some people asking for US Dollars instead of Pesos.  However, with that said, I looked at a small brand new apartment complex under construction recently that was marketed in Dollars, but I did not think the prices unreasonable.  Which is to say, a brand new 150 square-meter 3-bedroom apartment in a comfortable middle class building for US$70,000 in Santo Domingo.  Of course, you can still find very nice brand new upper class apartments (new construction) priced in pesos, whereby the equivalent in US Dollars would run anywhere from US$50,000 up to US$150,000 (and some higher) all depending upon size, amenities, neighborhood, etc.   Although I will say that in making a comparison with prices in Santiago, Chile and Buenos Aires, Argentina - upper end apartments are larger and less expensive in Santo Domingo than in the two cities I just mentioned.  Why have the prices stayed within a certain range in the Dominican Republic?  I think the answer is quite simple.  Regardless of what the current exchange rate is, people still earn a certain salary range, which has not increased with inflation or in tandem with the peso devaluation.  As such, one cannot price real estate out of the market.  A monthly professional salary is still about RD$25,000 Pesos per month, and just because the peso has devalued, local Dominicans need to be in a certain price range in terms of housing costs in order to be able to buy.  So, there is a glass ceiling to some extent in terms of prices.  As an example, Coca-Cola raised its prices and a 2-liter bottle of soda that sold for 35 to 40 Pesos in the supermarket was just unaffordable for consumers.  As a result, prices were dropped back down to 29 pesos in the super-market (or the alternative was for Coca-Cola to close up shop and not sell any soda).  In other words, regardless of what the exchange rate it is, if you are selling something, be it real estate, be it Coca-Cola, there is only just so far you can raise prices or simply price yourself out of the market and sell nothing.
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Another Reader Writes:
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John, Funny that you should mention Argentina now.  I went there in 2001 and it seemed like I had landed in Texas:  flat, humid, and full of cows.    I would not put it high on my list of tourist destinations.  As you probably know, Argentina stiffed their creditors, and is now offering to pay just 25 cents on the dollar.  These bonds are held by thousands of small investors from Europe (mainly Italy), USA, and Asia.  The default is politically popular at home, but the repercussions will be that the credit window will be closed to Argentina in the future, or only available on onerous terms.     The country lacks any internal savings that can be used for investment into their economy.    In other words, they are broke.  You really want to invest in a place like that?  By the way, where did all the money go, that they borrowed, and why did they borrow it if they were not able to pay it back?  Maybe their politicians had something to do with it?
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EDITORS REPLY:  On the first part, I can only say that Argentina is a large country, just like Texas is a large state.  If someone drops you out of a helicopter in certain parts of Texas, just as in Argentina, you can find yourself in a very rural area, perhaps dry and full of cows.  On the other hand, Texas has some very modern cities, like Dallas and Houston, with the streets full of Toyotas, Fords and so on instead of cows.  Buenos Aires is a very interesting city, with about 13 million people in the greater metropolitan area, complete with shopping malls, subway system, High Rise Apartment Buildings, Opera House, Tango Halls, restaurants - and no cows (at least not roaming the streets).  Cattle ranches are all you might see for miles and miles in certain parts of the country in Argentina as cattle is a major business.  Of course, if you visit the Patagonia region, you will see a completely different and quite beautiful topography as well.  So, like everywhere else, it all depends upon where you go.  New York State has plenty of cows too, but I have never seen one in New York City, other than a stuffed one inside a popular steak house in Manhattan.
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On the much more important topic of the economy, I had the chance to speak with taxi drivers, policemen, waiters, bankers, store clerks and so on, as I normally try to do when I visit someplace.  In terms of the economic situation for the common man, it is true you currently have an unemployment rate of 24% in Argentina, and there are many people who might have been called middle-class before, that are now scouring the streets at night for recyclable items to sell from trash cans.  I spoke with some of those people too.  They are not bums, but rather people who did not have the foresight others did.  In any event, you have that kind of situation, and you also have people who were smart enough to take their US Dollar savings out of the bank before the government froze savings accounts, or some that had their money outside of the country from the start.  These people are fine, and in fact, many of the bankers called all of their clients to close their US Dollar Accounts once they got wind that the government might be getting ready to freeze these deposits.  Also, not to go off on a tangent, but Chile just reported a 20 percent increase in tourism.  Where are all the tourists in Chile coming from?  Argentina.  Poor people or people who are down and out do not take vacations in another country, so that should tell you something.  In addition, from my own experience and with my own eyes, the stores still have plenty of customers, in all parts of the city.
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On the topic of stiffing the IMF and perhaps other creditors, you have a valid point, although I think it to be a bit more complex that what you make it out.  In other words, the general feeling in Argentina is that the previous group of politicians made themselves wealthy and screwed everyone else.  So, it is the case whereby the new government is trying to unravel the previous mess and keep the foreign vultures at bay.  You are correct in that no one forced the previous government in Argentina to borrow money from the IMF or issue government bonds.  On the other hand, the IMF is nothing more than an organized group of loan sharks backed by the US Government (in my opinion).  They swoop in on so-called economically troubled countries, offering all sorts of apparently free money and assistance (which is always attractive to dopey unpatriotic politicians who are more than willing to sell out their own country and save their own hides) with all sorts of nasty strings attached.  In short, when you let the IMF in, you are giving up your sovereignty as a nation.  They come in and put restrictions in place, they dictate new banking policy which often enough offers more benefit to the US and other G-7 nations than the country they are supposedly trying to help out, and basically take over control economically speaking.  However, some people, some politicians and we can say on a broader sense, some nations - have to find this out for themselves.  Once they do, they become angry - and that is the good news in that hopefully they learn their lesson.  Some may go as far as Argentina, standing up and refusing to play ball (turning over their country to a foreign entity which is in essence what is going on when the IMF settles in).  However, Argentina never said they will not pay back the loans and never said they did not recognize them.  They did however say, they are going to redefine how the repayment schedule is going to work - on terms that are workable for them.  And, as I said, the feeling is, right wrong or indifferent, that this was a problems created by someone else (the previous government), so the current group of politicians do not feel guilt about it, even though they are inheriting a problem that they recognize must be cleaned up.
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On the issue of the country being broke, I would disagree.  Much of the money has flown out of banks in Argentina and into people's bedroom mattresses - literally.  In other cases, the foreign banks just walked way, taking away or locking up the life savings of many people.  And you have the government freeze on accounts, which of course has made bank savings in US Dollars untouchable (Pesos are unfrozen at the moment, but not Dollars). But as I mentioned earlier, many people were smart enough to get their money out ahead of time (often with the help of their local banker).   So, there is money in Argentina.  It is just not in the government's hands and Yes - the previous politicians did mysteriously make the past bundle of money magically disappear.  On the longer-term time horizon, I think Argentina will work it out as they now have woken up.                 
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This information has been compiled and presented by John Schroder of Ascot Advisory Services, for the benefit of clients and readers. Ascot Advisory Services provides assistance with such matters as offshore company formation, Panama Foundations, offshore banking, and special services in the Dominican Republic regarding residency, free zone applications, etc. For more information:  
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Telephone 809-334-5387 or 809-756-1917 
Email: info@ascotadvisory.com
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