{"id":194108,"date":"2008-10-24T05:08:00","date_gmt":"2008-10-24T10:08:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/24\/argentina-plans-to-renationalize-pensions\/"},"modified":"2008-10-24T05:08:00","modified_gmt":"2008-10-24T10:08:00","slug":"argentina-plans-to-renationalize-pensions","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/24\/argentina-plans-to-renationalize-pensions\/","title":{"rendered":"Argentina Plans to Renationalize Pensions"},"content":{"rendered":"<p>Of course, Moody&#8217;s investor&#8217;s services <a href=\"http:\/\/www.reuters.com\/article\/bondsNews\/idUSN2345934020081023\">hates the idea<\/a>.<\/p>\n<p>I will make a note on the bigger picture:  When Argentina privatized its pension system over a decade ago, it set the stage for its brutal economic implosion in the first place, because it stripped the government of all reserves in the process.<\/p>\n<p>In response to the reports of the plans the <a href=\"http:\/\/www.iht.com\/articles\/2008\/10\/21\/business\/21merval.php\">Argentina markets dropped like a stone<\/a> (13%).<\/p>\n<p>I will note <a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601068&amp;sid=apDlwrW9f4c8&amp;refer=home\">Brad Delong&#8217;s blog<\/a>, and this quote:<\/p>\n<blockquote><p>The private retirement system, set up in 1994 to help bolster capital markets, owns about 5 percent of companies listed on the Buenos Aires stock exchange and <strong>27 percent of shares available for public trading, data compiled by pension funds show<\/strong>.<\/p><\/blockquote>\n<p>The market crash was inevitable.  It would either happen now, or when the population cohorts start sellling stocks when they retire.<\/p>\n<p>This should have been done sooner.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Of course, Moody&#8217;s investor&#8217;s services hates the idea. I will make a note on the bigger picture: When Argentina privatized its pension system over a decade ago, it set the stage for its brutal economic implosion in the first place, because it stripped the government of all reserves in the process. In response to the &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004,1068,1003,985],"tags":[],"class_list":["post-194108","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance","category-latin-america","category-philosophy","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194108"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194108"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194108\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}