Argentina Stock Market Crash: What are the Global Implications

The stock market in Argentina contracted 38% in a single day. The precipitating event was Macri’s loss in the primaries. His challenger, Fernandez, is no friend of market fundamentalism, so dear to financial capitalists who control the stock market.  IMF loans to stop inflation have not worked because the conditions of the loans support finance capital, not the real economy. Failing financial asset prices – like stocks, derivatives and commodity futures – are spreading around the world.

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