Did Argentina default on its bonds ?

It's actually a difficult question. The answer is yes - and no. So, why the ambiguous answer? Argentina does not pay interest and principal on the USD bonds issued under New York law, whereas they do pay interest and principal on bonds issued under local law.

Confused? A lot of people are confused about Argentinas' economy, politics and finances. And to be totally honest with you, it's a mess. 

Building a shantytown/favela back in the 80s

I was attending school back in the 80s and a very popular activity among the teachers was project work. Project work meant 2 weeks away from the normal class room setting and the topic could be anything. Mostly, the topics were about poverty or social injustice. If the topic was energy it was most likely about the terrible consequences of nuclear energy. You get the picture right: Most teachers were left-wing and the topics were always about how capitalist society failed on some dimension and how the "simple" life was much better.  

What the teachers were really looking forward to - I believe - were 2 weeks away from the class room.