Latin America
Breaking the Taboo of Drug Legalisation
by Don Quijones • • Comments Off on Breaking the Taboo of Drug Legalisation
By Don Quijones: Uruguay rarely draws international attention. Sandwiched between its much larger, much rowdier neighbors, it is, and has been for decades, a relative oasis of calm. But that is about to change: Uruguay is on the verge of becoming the first ever Latin American country to decriminalize the consumption of marijuana.
Currency War Rattles Brazil, Wakes Up the People
by Wolf Richter • • Comments Off on Currency War Rattles Brazil, Wakes Up the People
Fed Chairman Bernanke and his ilk refuse to see the connection. They’re too busy ogling inflation in the US that is suspiciously low. But China has its eyes riveted on the revolt in Brazil. Like all revolts, it’s about deep-seated issues and inequalities, but the spark that lit it – after inflation had made life too expensive – was an increase in bus fares.
Argentine Inflation: It’s Tough When All You Get Is Lies
by Wolf Richter • • Comments Off on Argentine Inflation: It’s Tough When All You Get Is Lies
The issue of inflation is complex everywhere. Official rates are disputed. People can’t reconcile them with what they see at the store. There are different formulas, resulting in different rates, and everyone picks and chooses what suits their needs. But nowhere is the issue as “complex,” infested with lies, and shrouded in obscurity as in Argentina. But 34.9%?
The Tequila Crisis: The Prelude to Europe’s Economic Storm
by Don Quijones • • Comments Off on The Tequila Crisis: The Prelude to Europe’s Economic Storm
Economic Lessons From A Mexican Taxi Driver
by Don Quijones • • Comments Off on Economic Lessons From A Mexican Taxi Driver
Contributed by Don Quijones: A cardinal rule that visitors should observe at all times in Mexico City is to avoid catching random taxis on the streets. Pick the wrong one and, at best, you will be abusively overcharged. Or you may be whisked away to some neighbourhood where the taxi driver’s partner(s)-in-crime will be waiting. But this taxi ride was different.
Chevron Whacked By Record Fine so Small it Might Not Notice
by Wolf Richter • • Comments Off on Chevron Whacked By Record Fine so Small it Might Not Notice
The California Division of Occupational Safety & Health just slammed Chevron with massive, record-breaking penalties related to the refinery in Richmond—the one that ended up in a fireball last August and caused 15,000 people to seek medical treatment. Purpose: to teach the mega-company an excruciatingly painful lesson. Alas….
Argentina’s Bonds, Defaults, and Vultures
by Bianca Fernet • • Comments Off on Argentina’s Bonds, Defaults, and Vultures
Argentina: Not An Effective Capital Control, Import Control, Or Tax Measure – But An Effective People Control
by Bianca Fernet • • 3 Comments
Contributed by Bianca Fernet. Sometimes I have to hand it to the Argentine government – their systematic clampdown on the movement of goods and capital across their borders is creeping along just enough to make international headlines about once a week without incurring any real domestic outcry to speak of. But now they have a new thing.
Argentina: When Life Gives You Lemons, Cry To The WTO
by Bianca Fernet • • 1 Comment
The US, Japan, and Mexico followed the EU’s lead and filed complaints at the WTO against Argentina’s import restrictions. Argentina promptly responded with its own complaint—against the US for blocking imports of beef and lemons. Yet, its beef market is one of the top 10 most protected in the world—and not in favor of its own beef producers! Just to keep the country glued together for a little while longer.