same problem
1) corruption
2) deficit / crazy spending
3) debt
4) currency crash
we follow these 4 steps to destruction in cycles.
Argentina’s currency crashes to an all-time low as it asks the IMF for emergency funds
Investors are increasingly concerned Latin America’s third-largest economy could soon default as it struggles to repay heavy government borrowing.
The peso is down more than 45 percent against the greenback this year, exacerbating pre-existing fears over the country’s weakening economy and inflation running at 25.4 percent this year.
“I know that these tumultuous situations generate anxiety among many of you … I understand this, and I want you to know I am making all decisions necessary to protect you,” Macri said.
Emerging markets fall as Argentine peso plunges to record low from CNBC.
more:
https://www.cnbc.com/2018/08/30/argentina-crisis-peso-crashes-to-record-low-amid-imf-plea.html
SS