@MikeImBack never take out a lot of loans in a currency you can't print.
To me, it's a great example of decades of political can-kicking.
"I can't deal with this balance-of-payments and fundamental economic crisis now! I have an election to win! I'll just roll over debt and borrow more USD until...."
@MikeImBack Canada doesn't take out significant loans in foreign currency.
When I read about the Argentine economy...I'm still confused how they entered the trap. They should've just defaulted on that debt decades ago and moved on. Tell the IMF to fuck off, default and nobody will remember in 2 years. That's what other countries do.
In the 60s...the US was still pretending they were on the gold standard. Part of that unravelling was Canada floating CAD vs USD...
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