Argentina defaults on loans, currency sure to dive, great wine prices ahead?

WINE TALK
1

http://www.bloomberg.com/news/2014-07-30/argentina-defaults-according-to-s-p-as-debt-meetings-continue.html

Sadly, most probably not: last time this happened 100% of producers suddenly started billing in Dollars and completely ignored the shift in currency exchange rates.

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When I went down to BA & Mendoza in 2007, wine was VERY affordable. Food, even more so.

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The government taxes exports. Wine is exported. If you’re a producer selling to countries like the US, you’re a source of extra funds for the government.

And then wine has to be shipped in containers. The owners of the containers want to be paid in real money, not Argentine money. So if you can even get a container, you will be paying more for it. Then when you sell, you don’t get to keep your US dollars. The government swaps them for Argentine money. When they get around to it.

And who knows what the economy is really doing - economists are only allowed to publish information put out by the government. If their numbers do not agree with the government’s numbers, they’re jailed.

If people suffer, well, just blame the rich landowners. Maybe tax them a little more or take a few properties. After all, the most important thing is to make sure President Cristina has sufficient funds for plastic surgery and her helicopter.

More likely than cheaper wine is crappier wine. If a few brands have a following, just cheapen it a little bit and hope nobody notices. The few wineries that have connections will probably end up OK.

4

C’mon, you’re talking malbec here?!

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Malbec is unique…

I have been trying ( and tracking ) Achaval Ferrer - the more expensive ones - since vintage 2005. Recently and finally decide to give them up but still buy Finca Flichman and Trapiche becasue they are so reasonably priced here in Quebec, Canada.

6

Is Argentina making Burgundy?

I’m with you.

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I failed to realize that you reside in Quebec, Sir—we should have a Montrachet tasting and determine whether fried potatoes or smashed potatoes are the better pairing.

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Mark…from my limited experience - smashed potato ( - no butter ) go better with La Tache. That is what Krama said in his book : Making Sense in Wine.

I am the president of the 2 Ms club in Montreal ( Marsannay and Mercurey ) unlike the 2 Ms Club in Singapore ( Montrachet and Musigny ). [wink.gif]

Joking aside my fav Montrachet is from Bouchard ( after year 1995 ) but if you take price into consideration, Prieur is also my fav. Due to premox and since vintage 2002 I seldem buy g-cru whites any more.

Just for my memory here is what Meadows said about Montrachet :

That said, while completeness and originality are the foundations of a great wine, comprising such factors as breed, power, richness, complexity, intensity and incredible persistence, these qualities in and of themselves are insufficient to explain their genius.

The extra dimension if you will as to why these wines, or what I refer to as the and Montrachet in particular, seem to rise above their lesser neighbours is because they possess the * thrill factor *, ability to consistently deliver an emotionally thrilling drinking experience, where our notions of wine as a beverage are transcended and we are transported elsewhere, if not physically then certainly mentally and emotionally.

This is the hallmark of truly magnificent wine and where dry white wines are concerned, Montrachet is capable of delivering this experience more often than any other. ****

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Hmm…it looks like you are living in Toronto, Ontario… [cheers.gif]

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Dude, that’s hilarious. I love it.

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Thanks Chris …sorry for the thread drift.