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Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup; 50% Tax on Internet Purchases

MishTalk

Argentina Institutes 50% Tax on Internet Purchases; Emerging Market Contagion Spreads; Argentina, Venezuela, Turkey Roundup Yesterday, Argentina devalued the Peso hoping to halt further declines in its currency reserves. Markets had seen this coming as charts of the Peso vs. the US dollar show. The 5-year decline is over 50%.

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Crude Plunges Following OPEC Decision to Not Cut Production

MishTalk

Western Canada Select, the Canadian benchmark, has lost more than a third of its value since June, in step with declines for West Texas Intermediate and the international gauge Brent. In September, Venezuela''s Bolívar Hit Record Low on Black Market. in Calgary. There’s no question there’s going to be a slowdown.