I have been reading about Argentina election and the changing of the old guard to a new administration
The financial markets seem to think this election result is the worst thing possible
Today I read their peso[ I think that is their currency] dropped a stunning 25% on the open
Their stk market has crashed
What I can't find out is why the financial markets are down so much
I read about the posssiblity of default
Did the election increase chances of default
If default is a possibility , what changed so much before and after the election??
I read where some creditors were thinking of seizing ocean cargo vessels as payment for debt
I have searched as much as my limited ability allows, and will continue my efforts
If their credit markets are in turmoil will the farmers have credit to grow crops
What happened in Argentina, besides an election and the results, to cause financial markets to panic.????
I had no idea this was going on: