Seethe harder leftists LOL, this is why you check out countries yourself if you can rather than believe anything the media puts out.
In doing so, he has delivered a blow to pensions, wages and nearly all public works.
This is particularly telling, pensions are a government ponzi scheme, don't trust them at all, wages are likely tied to government jobs for the moment and public works are just another scam that politicians and their lackies use to embezzle taxpayer money. Contrast this with other countries especially the likes of the UK and South American countries that adopt similar policies are going to be downright stable by comparison.
By the way I made this point awhile back but this is why the media have largely stopped reporting on Argentina now. Obviously there's the American election season coming up, but because there's no huge disaster happening or anything like that they've completely lost interest in reporting on Argentina at all.
Western media are not interested in reporting on countries that are doing well or are stable. If you're looking for a new place to live, pick a country that western media aren't interested in. They did some sperging about football clubs being privatised but that's about all they've written about lately.
Glad to see it, not just because I like seeing the left being proven wrong or that Argentina may move up on my 'places to escape to' list
But also I REALLY fancy Argentinian steak places making a comeback, used to have one that KNEW how to give great portion sizes for price!
It's worth pointing out that unlike a lot of the world these days Argentina has it's own proper agriculture and hopefully with deregulation that's going to get it a massive boost.
Asados as far as the eye can see.
In order to cut on inflation, the Central Bank basically shut down cash withdraws. Some equivalent to $100 a week. The Austerity has been rough, there's no doubt about it.
The Globalists definitely want Milei to fail, and they were hoping the Austerity would put him under 50%, but it hasn't.
Argentina needs foreign investment, but he's right that increasing the velocity of his currency would spike inflation; and there's a real danger that opening the flood gates to foreign investment would probably get Leftist allies to have additional funding, and make Argentina dependent upon other states.
Milei probably needs Trump to win as badly as most Americans do so he can get some proper trade agreements going. It's good to see that the farmers are leading production, that should drive down food costs, and I'm sure they have some food exports that can really bring home the bacon.
Ranchers are basically the symbol of Argentina. The Gaucho is a national symbol of independence and bravery.
He fuckin' looks like it.
Someone shit this man a lever gun!
I assure you, this man has Bolos.
Thanks for that detail, as usual the media leave out a lot when it comes to countries or topics they aren't really interested in covering.
I heard that from George Gammon going down to Argentina. Btw, it was $40 a day.
To his horror, BitCoin and Gold DID NOT get adopted as an alternative, basically by anyone. Instead, people keep trying to use US Dollars if they can't get the Argentinian currency. Basically, no one can take BitCoin for trade. You can't really use gold either because gold is to expensive to be used for trading purposes. Silver could be, but no one has enough silver either, and nobody still knows how to trade with it (or confirm it's purity). What ends up happening is that people are getting direct deposits to their accounts, but when they were at 25% interest rate, they couldn't take their money out to move it, so it just sat in the accounts losing value.
If there was going to be a strong, valid, criticism of Milei it would be letting this happen; because these people were basically just being robbed blind. But I know why he let it happen: Reduce velocity to prevent inflation increase, while still trying to stay away from a Bank Run, or a full collapse of the currency.
But the reason that Gold and Bitcoin couldn't be used as alternative, or even as a store of value is because the banking system actually destroyed liquidity itself. If George's video is too long, I'll cut to the analogy:
If no one in America has a bank account, and you have $50,000 in gold, and you want to sell it. Who are you going to sell it to? The gold dealer. But why would he have $50,000 in cash laying around. In fact, let's say he does... why would he willingly give it to you?
By destroying liquidity, they've made gold and bitcoin worthless. An illiquid asset that stores value is just as worthless as a liquid asset that stores no value. If you DO find a liquid asset that stores value (like a USD by comparison), then people start hording them, making them too expensive to use, just like gold.
Once I realized this, I actually started hoarding cash, in addition to gold and silver. If they fuck around in the next recession with withdraw amounts, that cash is going to be a life line that everyone else will be struggling to use.
The only good news is that the Argentineans should be getting around this problem soon enough if their inflation is only 4.5% now instead of 25%.
It won't take a decade of hardship. It's not that the country is foundationally unsound, it's that everything on top of it is crippling it.
Most of his problems are dealing with the remaining Peronists, and the Globalists allies who'd like to keep foreign investment out.
Cutting spending isn't enough to attract investment on it's own. He has to pay his debts and he has to cut the regulations that are syphoning funds.
There will be some hard times. I rather have a few bad times spaced over a few years than to have 1 catastrophic bad tim ethat is every 100 year.
I don't agree with sections of this article, but it is disappointing Milei isn't doing everything reasonably within his power to promote right-libertarian principles and policy.
https://www.lewrockwell.com/2024/06/no_author/a-hoppean-dissection-of-javier-milei/
I'm surprised most of the conclusion is dedicated to his relationship with Israel.
On a geo-political standpoint, he needs to befriend the US, and that is just going to dictate his stance on Israel. It's not like Argentina is gonna send weapons or soldiers to Gaza. For the most part, it's all talk in order to curry favor with the American right-wing hegemon (which is pretty favorable to Israel). Certainly better that then China. And if you don't want to go that route? Welp, Argentina doesn't have enough nuclear weapons to hold it's own.
I get the complaints about issues with foreign investment, but if he doesn't pay those debts, the IMF will turn the country into a pariah state and see him shot.
I also get the complaints about the welfare state, but you can't just yeet the thing that makes people dependent upon the Peronists. You can't just cut off the money and do nothing else. Thatcher pulled that stunt and Wales never forgave her. Now they're so locked in with Labour that they are banning cars from driving more than 20 mph.
Practical considerations must be made here.
Nice. I can never understand how things work in economics aside from supply and demand, so anything past that I don't really understand, thanks to you all for posting periodic updates.
It would be really weird to flee back to Argentina.
They also just won the two major national soccer tournaments (World Cup and Copa America ) without importing niggers, unlike the "European" teams.
Even the Swiss had niggers in their team.