The 'blue dollar' is booming: Argentina's lust for the buck pushed its black-market rate up 60,000% since peso parity ended in 2002

• In Argentina's black market, the US dollar recently climbed past 1,000 pesos for the first time.
• The price of "blue dollars" surged almost 60,000% since Argentina scrapped its currency peg in 2002.
• The greenback allows Argentines to protect their earnings as the peso keeps losing its value.

For Argentina's economy and markets, chaos is a way of life.

For decades, the nation has been roiled by hyperinflation, sky-high interest rates, a growing mountain of debt, a string of sovereign defaults, and a cratering exchange rate. It's been in recession for a third of the time since 1950, according to a recent report by Spain's Santander Group that cited World Bank data.