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Argentina: A Case Study in How An Economy Collapses

"When you ask any Argentinean person what concerns them the most, the first thing they’re going to be telling you is the crime problem. And the second one is the financial problem. Those are by far the top concerns the average Argentinean person has, and I think that eventually it will happen in the U.S.A., as well. I think that five years from now or so, you’re going to be talking to people, and the thing that’s going to be concerning them is that Joe down the street suffered a home invasion and got beaten up, maybe even got killed. All kinds of crime that didn't used to happen in the good parts of town. It’s going to be one of the greatest concerns people will have, eventually.

And, of course, the financial situation as well. If you look into what people are worried about right now they’re worried about losing their jobs not being able to put food on the table the next month. They see that if they lose their jobs it’s not as easy as it used to be to find another one as well. That’s terrible, because it’s very cold when you look at it in numbers, but it’s—I’m telling you—it’s so much different when it happens on a social level and you see that on the street . When you see the people picking up garbage on the streets to eat."

Hyperinflation survivor Fernando "FerFAL" Aguirre shares his observations of life during and after Argentina's currency collapse in 2001. He notes that the decline initally began slowly, with most of the populace slow to wake to the danger. But when the eventual collapse occured, it happened practiclly overnight – catching the country by surprise. In the wake of the collapse, dealing with poverty and violent crime became the dominant themes.

Worth our attention is his observation that he now sees the sames signs in the US and other major developed nations that he saw leading up to Argentina's collapse. In fact, he foresees a similar endgame as all but inevitable.

Click the play button below to listen to Part 1 of Chris' interview with FerFAL (runtime 31m:43s):

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user profile picture Adam Taggart Jun 10, 2011
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“When you ask any Argentinean person what concerns them the most, the first thing they’re going to be telling you is the crime problem. And the second one is the financial problem. Those are by far the top concerns the average Argentinean person has, and I think that eventually it will happen in the U.S.A., as well. I think that five years from now or so, you’re going to be talking to people, and the thing that’s going to be concerning them is that Joe down the street suffered a home invasion and got beaten up, maybe even got killed. All kinds of crime that didn’t used to happen in the good parts of town. It’s going to be one of the greatest concerns people will have, eventually.

And, of course, the financial situation as well. If you look into what people are worried about right now they’re worried about losing their jobs not being able to put food on the table the next month. They see that if they lose their jobs it’s not as easy as it used to be to find another one as well. That’s terrible, because it’s very cold when you look at it in numbers, but it’s—I’m telling you—it’s so much different when it happens on a social level and you see that on the street . When you see the people picking up garbage on the streets to eat.”

Hyperinflation survivor Fernando “FerFAL” Aguirre shares his observations of life during and after Argentina’s currency collapse in 2001. He notes that the decline initally began slowly, with most of the populace slow to wake to the danger. But when the eventual collapse occured, it happened practiclly overnight – catching the country by surprise. In the wake of the collapse, dealing with poverty and violent crime became the dominant themes.

Worth our attention is his observation that he now sees the sames signs in the US and other major developed nations that he saw leading up to Argentina’s collapse. In fact, he foresees a similar endgame as all but inevitable.

Click here to access Part 2 of the interview, which focuses on smart steps individuals can take in preparation before an economic collapse.


Fernando “FerFAL” Aguirre experienced the hyperinflationary destruction of Argentina’s economy in 2001 and continues to blog about his experiences and observations of its lingering aftermath. His website (www.themodernsurvivalist.com) and his book Surviving the Economic Collapse (Self-published, 2009. ISBN 978-9870563457) offer windows into the probable outcomes to expect during a collapsing economy. Note: Our site’s What Should I Do? Guide offers specific guidance relevant to a number of the risks FerFAL mentions in the interview.


 

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