The Fragile State Of Argentina When It Defaulted (2002)

[@Hottides]

Instead of moving to economically depressed European nations like Spain or Italy, Argentinians should move to Brazil or Chile, both of which are comparatively prosperous. Brazil is importing skilled labor. Why move across the planet to another basket case when you can do far better elsewhere in South America.

[@pimpgreen8989]

There's no work in Spain or Italy either, most of young people in Spain have moved to the U.K. to find work.

[@gustavogoncalves3083]

20 years has passed and Argentina still has no future

[@DCFunBud]

What a depressing state of affairs! The country has everything it needs to succeed but competent leadership. To think it could have been another United States.

[@Wul-Lop]

May peace, wealth & health come to Argentina, South America & all over the world. May people around the world be free from suffering like this.

[@elohim660]

Wullop Khin these are the last days

[@Supersup.campos]

@@elohim660 More and more I guess you're right.

[@bboucharde]

Dear Journeyman Staff, Thank you for providing this, but WHEN was this filmed? Frequently, the "published" date that you show is much later than the actual production date. In fact, this is a problem across many KZbin channels. Thanks, BBoucharde

[@istuddd]

What's the current situation there now? I went to move there for four months starting December

[@GrocExp]

I'm want this to happen quickly to the U.S. for 2 reasons. I'm ready for it more than most people and the sooner we can move through the necessary correction required to downsize our Federal government, end entitlements, and go through monetary reform the sooner we can return to economic prosperity.

[@lucascarranzavelez5250]

U.S. is in a similar condition to us here in Argentina. Your debt is a time bomb and soon will be defaulted. This is imposing winter in our economies, not letting us flourish into spring.

[@gb696]

Lucas Carranza Vélez Sorry, but no. It actually makes sense for countries like the UK, USA, and Germany to run up deficits, since we are view as highly trustworthy the amount our governments pay as interest doesn't cover our inflation rates, so actually the government pays something like 98 dollars to borrow 100 dollars. since this rate is lower than inflation it actually makes more financial sense, in a twisted way I'll admit, for us to borrow. Also we ideally wish to "grow out" of our situation, Japan has a deficit at 200%+ of GDP yet their economy is doing much better than Argentina's. It's all about balancing how much (it can still run out of control) and the trust in those countries by domestic and foreign investors. the countries underlying assets are also important (For example that if the US government tried to set it's budget % -wise to the size of Germany's paying off all our debt would be quite easy, and the fact we borrow to invest in hardware instead of entitlement programs)

[@lucascarranzavelez5250]

***** Yes, running a deficit is not the problem, doing so for 40 years is the problem. Getting used to being trustworthy and having strong currencies diminishes production and pushes them to base their GDPs in consumption and debt. Debt is not bad if its used for investment, but thats not what its being used for. It is being used to prop up asset prices, and inflate bubbles again. This helps only banks and not the people.

[@Meade556]

What happened in Argentina in 1989-2001 is exactly the sort of thing you say you want to happen. Massive downsizing of government, huge below market privatizations and the evisceration of welfare programs. The result was economic collapse. Argentina doing the opposite from 2002 onward led to impressive economic growth, reduction in poverty and income inequalities and an end to massive malnutrition.

[@pinballdef]

This is what happens when stupid voters vote politicans into office, that promises welfare for borrowed money. It will go well for a while, then the borrowed money has to be paid back, and you loose the borrowed welfare plus interest plus of course you have to pay back what you borrowed, so you will be much worse off than if you had not borrowed for welfare to begin with. Politicans should pesonally be responsible for all money they borrow using taxpayers as security. no.. they should not be allowed to borrow at all. Want a bridge? lure a private company to build it, or save up and then build it when the money is there...

[@pjmyou]

9 children, no husband, handouts, gotto go get you some EBT!

[@1OssoBuco]

Sad story.....corrupt gov't after corrupt gov't. Democracy has served Argentina poorly as well. Governments just promise handouts to get reelected

[@frenfudiz]

2:02 captions queue means why or what

[@amyhuk]

ROFL pretty sad when you think Itally is a better place

[@nuperspektive]

I know I was thinking the same thing. Italy is going thru the same things, bank bail ins etc. There is no escaping this its coming all around the world.

[@vvventure]

Well they say it because hhere in Argentina most of us come from italy or Spain and we can proove our nationality ath the embassy in order to get a citizenship. But Italians are more open to give it rather than Spain. Whenever you get the Italian passport is really easy to go there instead of prooving your luck in Germany, US, etc.

[@DCFunBud]

What is really funny is your spelling of Italy.

[@stevenwestern8199]

Argentina is truly the Country That Cannot. I am reminded of a rear wheeled drive car stuck in soft, sticky mud, spinning tires yet sinking deeper and deeper into the mire. Throw out all the government officials and judges, take over government buildings and keep the crooks out

[@hubberts]

At 7:43 the guy says he was reluctant to use the barter paper because it wasn't real money. Neither is the Argentine peso. Only gold and silver are real money. Always have been....always will be. Everything else is just currency.

[@hubberts]

Actionbastard We could use something else, but we don't. In order to be money, something has to have other characteristics other than just rarity, which is why we can't use bone for example. Durability must be present. Works great in a micro-economy, but in the open world we live in, with so many transactions, it would not last. Illusory you say, but yet after all this time, here we are.

[@jvarela965]

Was this 2001? Please date these videos

[@Quidzyn]

This was filmed in March 2002. It wont be long and these will seem like the good times. What is coming will be far worse.

[@jvarela965]

Quidzyn Yeah I have heard Argentine economy is shaky again.

[@Sir_Queef_A_Lot_The_Second]

in 2016 your inflation rate is 40.50%

[@juanpico1134]

I'm from Argentina, I must say that things are not as bad as they say. I'm a student of engineering and public college or university of very good quality. Not only education but also health is free. Abono an enrollment of US $ 20 per year to study at a university. Do not believe everything they see on the Internet. Hugs and thanks

[@tijuanaforeplay8232]

Well there you go. Free education is state education (paid with other people's money by the way) When the State has a say in what they teach you it will never let you learn to think critically and know the truth. The State doesn't want you to realize that it is the problem. One must be indoctrinated to defend the government.

[@hektoriuz]

Spain and Italy are in bad shape as well.

[@concernedcitizen6577]

The free market truly at work after Argentinian economy default.

[@shalicgraw5280]

2015: 1USD = ~13ARS 2020: 1USD = ~70ARS 😮

[@frankhynd885]

Dec 2021: 1 USD = 103 ARS.

[@TheZeek011]

what year is this video?(not the published date) Quality looks a tad outdated.

[@shalicgraw5280]

TheZeek I think 2002-2003

[@frankhynd885]

In Argentina in 1975 there were one million poor people and in 2002 there were 14 million poor people per 13:00 of this video. In 2019, pre-pandemic, there were eight million poor people per another video. Poor Argentina, is there any way out of its economic and social chaos?

[@frenfudiz]

4:16 captions buenos means good

[@lloydgrice353]

Its the god dam banks get rid of them. the church is like a god dam emotional predeter

[@Kangkhao]

Journeyman as a click machine for money on YT is disgusting. Once upoloaded, the title was changed again (one could recognized it) and as always when uploading old stuff, the year documentaries were made is never mentionned.

[@beancube2010]

If they know vertical farming with a long off-shore line, Argentina should be much better than America. Don't give up, Argentina !!!

[@tonymontana7566]

2019 and it’s still the same

[@AnaPaulaErbesfeld]

esto es del año 2002 no del 2014.. este video dice mentiras. las imagenes son del 2002 cuando habia trueque. no se deje engañar.

[@k.athenian8899]

The guy in 13:04 has a typical face of a south Italy villager.

[@georgekafantaris7807]

property up up and away....buy before you miss out

[@lloydgrice353]

Its time for the whole of humanity to wake up and stop be emotionaly stunted

[@jellyfishtitan6530]

So in Argentina they're "buying" and "selling" goods for "services" by using "non-money that is money"...That's a nice way to duck out of taxes that could be used to improve the economic situation >_>. Why are Argentinians upset about not being able to pay their country's loans if they freely allow illegal markets to exist which they cannot tax?

[@Supersup.campos]

Are you a libertarian?

[@santiagom3744]

Btw, this is 2002

[@Barskor1]

Those Barter clubs guess what they are? The Free Market! This is what the free market is supposed to be without government interference.

[@spanaker]

soon that is going to be americas future

[@ramster0]

"Restructuring"?

[@stevenwestern8199]

With the exception of Australia what countries in the southern portion of the globe are stable? Why is corruption so bad in Italy, Brazil, Argentina? Why are the African nations still undeveloped and at civil war?

[@neilfrench4898]

You're a fucking idiot if you believe corruption is non existent in the north.

[@nicolasbugmy2794]

1:34 - The red head woman has an attitude problem

[@CheekyMonkey888]

this time will be different / sarc Gees the first half of the report had the answer, stop relying on the state for anything, barter, trade, create your own money... the answers are right there and work right now.

[@saudielbamber4227]

Hate to say it but you might ave to get violent before there is change. Power seldom gives in to demands without force.

[@ethicalbro]

So this is where America is headed!

[@RIchardDavidson007]

WoW, I see a revolution coming to Argentina. Very very soon.

[@tonymontana7566]

RIchard Davidson still waiting

[@gracenow100]

This sadly is the state of the world. This is going on in America right now!

[@culterwaleddy]

Only difference is the U.S economy is actually recovering. Something like this isn't the first time it has happened in the states. The 08 crash was the 16th time it had happened.

[@iant419]

Why dont they just use silver coins?? people will forge those barter notes! Also, if you have a medium of exchange, it's no longer barter lol

[@tutucasimpre4502]

ESTOS SON LOS QUE ESPECULAN CON EL DOLAR Y NO QUIEREN TRABAJAR POR ESO ESTAN TAN CALIENTES

[@frenfudiz]

north argentina hot south agentina cold

[@bigeslog3381]

They want a FREE MARKET PEOPLE !!!!

[@fredschwentafsky6993]

Bring back christina fernandez.

[@mrnarason]

12 year old documentary

[@moiusa]

donde mierdas esta Maradona pue' mucha! ya la cago toda otra vez.

[@KlausBioMadsen]

Bloody dubbing, get rid of it!

[@RIchardDavidson007]

Evita!!!!!!!!!!!!!!

[@luiszunigarodrigues1635]

Que horror argentina la otrora orgullosa y prepotente llego al fondo del pozo y lo curioso que en chile y brazil no ocurre esta erocion de la sociedad y que llega a ser un fenomeno inexplicable

[@Meade556]

Wow, lots of racist comments and also economic ignorance a plenty.