Author Default: The Landmark Court Battle over Argentina’s $100 billion Debt Restructuring @Georgetown_UP, Senior Fellow @CIGIonline and @HarvardBizGov
United States
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Here’s a fun one! @five_books !!
fivebooks.com/best-books/sov…
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Tired of all the sovereign debt reform drama? Here's an alternative.
open.substack.com/pub/gregor…
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Is Milton Friedman Spinning in His Grave with Trump's burst of intervention in the U.S. Economy in 2026?
Project 2025 up in Smoke as Trump Goes Big Government in 2026 open.substack.com/pub/gregor…
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Venezuela: While acting unilaterally, I think the U.S. has good intentions but is just afraid to say so.
Success, however, will require institutional backing and buy-in on the ground, so clarity on the mission and its purpose are needed soon.
See my new piece making this point -- just posted online by Barron's:
@CIGIonline
barrons.com/articles/trump-v…
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Decoding Venezuela: Is Trump’s Intervention about People, Bonds, or Oil? open.substack.com/pub/gregor…
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Yes! Argentina is back.
Implication? Default no more.
I know: I wrote the book. Georgetown University Press 2024. Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring. Audiobook, ebook, paperback, and out in Spanish in a few months… Read it and weep.
MILEI: "UN HITO HISTÓRICO"
El Presidente afirmó que el acuerdo en el Senado marcó la sesión legislativa más importante de la historia argentina y sostuvo que permitió quebrar una inercia de cien años de decadencia, al cierre del balance político de 2025.
También destacó la Ley de Inocencia Fiscal y adelantó que en 2026 el Gobierno avanzará con las reformas laboral, tributaria y penal, además de cambios en la ley de glaciares para impulsar la minería.
(+) en Clarín: clar.in/4qmz8d4
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I wrote earlier this year this year that EM portfolio managers were best positioned to understand the Trump II economy (attached). Watch this and cry!
open.substack.com/pub/moneyi…
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Yes! As you said (in English): “There isn't a screenwriter who could imagine the things that happen in Argentina. Simply, it can't be.”
My debt drama book DEFAULT is coming out in Spanish early next year. The true story of Argentina, the Vultures, and Judge Griesa.
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Let’s go viral for Jamaica.
Step One: Give to a charity in support of Jamaica's recovery—see Substack for four options.
Step Two: Repost this.
Thank you! And shout out to @FTAlphaville for linking piece under Further Reading today. One Love.
open.substack.com/pub/gregor…
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Let's show our love for Jamaica. Here's a piece on the country's finances. But the most important part are the links to donate to:
- The Government of Jamaica
- Food for the Poor
- American Friends of Jamaica
- The Sandals Foundation
open.substack.com/pub/gregor…
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Political earthquake in Argentina! In Barron's I ask, "Is Peronism Dead?", in the wake of the Oct. 26 mid-term election.
Former President Kirchner says Kicillof made a bad move.
I agree! But where Peronism loses, investors win. Free of fear of default and confiscation, Argentina may now enjoy a virtuous cycle of improving confidence, higher investment, and higher growth.
Mistake by Kicillof. Brilliant countermove by Bessent. A clear vote by the people of Argentina for order over chaos. That's my take on what just happened in Argentina.
barrons.com/articles/argenti…
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See Bloomberg on CFK's view: bloomberg.com/news/articles/…
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We discussed the same on Odd Lots Tuesday!
podcasts.apple.com/us/podcas…
I could not agree more with @ricardo_hausman. His piece in the @nytimes on Argentina says it perfectly. I took a snapshot of the lines I particularly liked. His full piece is here: nytimes.com/2025/10/15/opini…
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Gregory Makoff retweeted
NEW ODD LOTS:
Why Argentina needs bailout after bailout after bailout.
@tracyalloway and I talk to @GMakoff, who literally wrote the book about Argentina's debt restructuring, about why the country is once again a recipient of foreign assistance.
podcasts.apple.com/us/podcas…
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A Nobel Prize in Economics for John B. Taylor and Anne O. Krueger for their foundational work on sovereign debt restructuring? I hope so!
Check out the link below to my new piece on the topic!
open.substack.com/pub/gregor…
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Thinking about Argentina today?
Here’s a new review of my book on the same topic.
"Default is a well-researched book that answers the question of what happens when a sovereign nation cannot pay its debts" - Cato Institute
cato.org/regulation/fall-202…
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DEFAULT is now out in paperback!
Wall Street Journal—“Superb”
Literary Review—“Magnificent”
CFA Institute—“A thriller”
Foreign Affairs—“Illuminating”
Revista, “Powerful, exciting, and instructive”
FT—“Scrupulously fair”
America’s Quarterly—“Required reading”
@Georgetown_UP
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Gregory Makoff retweeted
Yield curves keep steepening globally, particularly driven by 30-year yields. In the US, the gap between 2-year and 30-year bond yields has reached the widest since January 2022.
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Yes! Taking over the central bank, moving to control statistics, running huge deficits, blaming the country’s ills on foreigners…. But is the comparator Juan Domingo, or Néstor and Cristina?
bloomberg.com/news/articles/…
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