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Argentina inflation surges past 200%, hitting highest level in decades (www.nbcnews.com)

submitted 8 months ago by throws_lemy@lemmy.nz to c/world@lemmy.world

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[-] vexikron@lemmy.zip 18 points 8 months ago

Wait so, is this a conjob to later try to switch the country over to some cryptocoin, or was that the stated goal the whole time?

I genuinely feel bad for Argentinians, but jesus christ never put an AnCap in charge of a state.

[-] xmunk@sh.itjust.works 27 points 8 months ago

Milei has been pretty open about their policies... Unfortunately Argentina's economy is a dumpster fire and neoliberal asshats have been driving it further into the ground. You can think of Argentina's election of Milei as a hail mary... But an extremely I'll advised one.

When you're desperate even insane radical change can seem better than the status quo.

[-] vexikron@lemmy.zip 3 points 8 months ago

Wonderful.

I have not had enough time to follow everything about Milei, so it was a genuine question.

My nearest point of reference was El Salvador.

[-] Shardikprime@lemmy.world 2 points 8 months ago* (last edited 8 months ago)

insane radical changes

-stop printing worthless paper money bills

-cut useless government spending on extremely corrupt practices that permeate all public spending in the country to save money

-reduce spending as the previous economy ministry/presidential candidate left the country reserves in ruins spending 15 thousand millions USD in only 6 months just to try to buy the campaign and still lost.

-rebuild the country's monetary reserves by auditing spend.

Wow the insanity

[-] xmunk@sh.itjust.works 5 points 8 months ago

Those are pretty sane ideas but....

charge protesters for their own arrest
convert the country to using USD
scrap necessary government functions (like environmental oversight) for short term savings
remove restrictions on foreign investment

It's a mixed bag with Milei, some ideas are reasonable, some are hard to imagine how they'll be feasible, some are dumb... And a few are attributed to his dead dog.

[-] Mkengine@feddit.de 2 points 8 months ago

Can you elaborate on the dead dog? Is this a metaphor or do you mean it literally?

[-] xmunk@sh.itjust.works 3 points 8 months ago

https://brazilian.report/latin-america/2023/07/09/argentina-media-attack-milei/

He speaks to God by communing with his dead dog Conan who he has since has cloned.

[-] EnderMB@lemmy.world 10 points 8 months ago

Sadly, as economies crash, it takes years, if not decades to repair the damage. Quick fixes or radical changes often just make the problem worse.

It's one of the reasons why Greece is starting to improve after so long in the shit. Their workforce switched to other, stable industries, and due to a mixture of COVID and the global economy dropping, they found themselves finding some semblance of normality.

All economies are different, but Argentina will need to strip away the bullshit, and focus on building something that'll last, with the resources they have. Sadly (and probably rightly so), telling people that the formative years of their lives will be full of unemployment, crushing debt, and no savings to take them into retirement while their kids may have a better outcome isn't a vote winner

and even if it was, the next election could undo absolutely everything.

this post was submitted on 14 Jan 2024

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