Straight-Up Disaster Looming For US Soy, Corn - Plantings Weeks Late, Approaching Cut-Off

[sandensea]

10. It figures that Cheeto would go out of his way for Latin despots and their cronies

He's also trying to bailout his hopelessly corrupt and incompetent old buddy in Argentina, Macri, with a $56 BILLION bailout.

Not directly; but by way of an IMF stand-by loan which their board recommended against as "unsustainable" - rammed through, according IMF South America Director Roberto Cardarelli, on Trump's explicit orders.

Trump is doing this because elections in Argentina are 5 months from now, and the hard-right Macri is down in the polls by 10% or more (and with 24% job approval).

He's been led to believe that merely by stabilizing the peso until October, Macri might be re-elected. But this ignores the elephant in the room: that Macri has pushed Argentina into a severe recession as well.

Suffice it to say, Argentina will not be able to repay the IMF under the current terms (within 4 years). This will be the case whether or not Cheeto's pal is re-elected.

Meanwhile, American farmers are left in the lurch. Maybe the IMF will help.