Congratulations, Argentina! A New Record!

By Otto Rock

A round of applause for the Macri government, which has managed to push the Argentina Peso (ARS) over the 30-to-1 barrier against the US Dollar (USD) for the first time ever:

Yes, Mauri, we know you have inflation under control. Of course, relax. Now, cue up those front page headlines about how Chileans are happy to come and buy in Buenos Aires and how that’s going to benefit the economy. You know it makes sense.

You guys can keep your Turkish Lira, I’ll take the 62.3% deval in the Argy Peso in 2018 YTD and the total fruitcake country behind it every single time.

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Gary

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