jueves, 22 de mayo de 2008
Economic Crisis?
So it seems the Wall Street Journal claims the economic crash of 2001 is on the cusp of happening again, saying "it doesn't have to happen, but it might." Argentines are heading to the bank in droves to cash out and exchange their pesos for the more stable US dollar. Will this put me, as an American, in a more profitable situation? Or will prices in pesos soar to keep up with the inflation this is bound to cause? And there are rumors that Cristina and her hubby, el ex-Presidente might attempt to lower the value of the peso in an attempt to spur market growth. The ratio is now down to 3.120 pesos: 1 dollar. A dramatic .055 centavo change since last week. But that means the dollar has weakened, not the peso. Perhaps not for long. But there is good news for some, soybean prices are down as farmers begin to reach an agreement with the government. That just seems to be on exports, so you folks up north better enjoy a nice Soy Chai Latte for me. Or some chocolate soy milk. Mmmm... I don't know why here they only mix it with fruit juice. I'd take Silk Chai or Silk Chocolate over an Ades Durazno any day... At least today I would.
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