Don't Cry For Turkey---The Real EM Disaster Is Argentina

On Monday, Argentina’s central bank responded to the currency chaos in Turkey and other sections of the Emerging Markets, including the ongoing collapse of the Argentine peso: It raised its policy rate by five percentage points to 45%.

Argentina’s annual rate of inflation in June surged to nearly 30%, and indications are that this is getting worse.

 

https://wolfstreet.com/2018/08/13/price-of-cheap-debt-dollar-euro-local-currencies-come-unglued/

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