Argentina is going through difficult times (especially with the Peso being bad as it’s very volatile) since most Argentinians would prefer USD over the Peso either through savings or investment.
That’s because the dollar is the best bet not only for savings, but for making a living (if they can manage to get remote work). The thing is, how did Argentina end up in this situation in the first place?
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Economy is still shit but at least it got better than a few years ago.
It will go to shit again in a few years/months
It’s been a roller coaster of bad decisions for probably over 100 years now. Buenos Aires was once called “The Paris of South America”, but that went to shit with the 1929 depression
Because it’s run by an AnCap that decided to nuke all social services and sell the entire country out to the IMF and crypto scams.
Sadly, it went to shit before his time even, which is why many were so desparate to fall for a ridiculous conman like him. He was just the final nail in the coffin.
It was damaged, not destroyed.
The saying goes There are 4 types of national economy: developed, developing, Japan, and Argentina. Argentina’s economy has been in trouble for a very long time.
It’s a very complicated subject.
Here are a few videos to get you started:
https://m.youtube.com/watch?v=E7MzfNTSk4A&pp=ygUKYXJnZW50aW5hIA%3D%3D
https://m.youtube.com/watch?v=xTe6fjwadmo&pp=ygUQemVpaGFuIGFyZ2VudGluYQ%3D%3D
Because the world Bank and IMF fucked them when they resisted selling off their country through outside investments, leading to their currency being debased and ultimately giving them weak footing for international trade
They’ve never really recovered from that, and they’ve also flitted back and forth between wildly different economic interventions desperately trying to fix things
Why has the Argentina Economy gone to shit … again?
The country has defaulted on its debt/gone bankrupt nine times.
https://en.wikipedia.org/wiki/1998–2002_Argentine_great_depression
They’ve never recovered from this and their presidents keep doing boneheaded shit.
Javier Milei might have something to do with it.
it was a mess long before him.
Mainly because of leftist, almost socialist government.
Found the IMF spokeperson
It’s amazing sometimes how some people seem to be truly living in another plane of existence
Metric - Now - Late 2023 (Milei took office in December of that year)
Annual inflation - 30% - 211%
Fiscial balance - Little surplus - -5% of GDP
GDP growth - 3-4,5% - -1,6%
Poverty rate - 36% - 42%
Argentinian economy is doing better now in every metric imaginable, poverty too. This was a discussion about economy, not quality of life.
The president is the biggest Trump fanboy, how the fuck the government is leftist?
Previous governments were leftist, Milei is fixing after them.
Their president is an AnCap that nuked social services and critical government infrastructure, took on enourmous loans, and created skyrocketing poverty and unemployment. If socialists were in charge then Argentina would not be in this crisis.
Yet he massively improved the economy left in a dramatic state by socialists
No, he destroyed a struggling but functional economy and ruined the lives of millions to try to impress fascists like Elon Musk.
Metric - Now - Late 2023 (Milei took office in December of that year)
Annual inflation - 30% - 211%
Fiscial balance - Little surplus - -5% of GDP
GDP growth - 3-4,5% - -1,6%
Poverty rate - 36% - 42%
Argentinian economy is doing better now in every metric imaginable, poverty too. This was a discussion about economy, not quality of life.
You’re looking at how well the wealthiest are doing, when poverty is now far worse, and these “gains” are built on unsustainable loans from the IMF to “fake” economic growth. Argentina is on a path to absolute devastation.
We will see. I hope you’re right
@RemindMe@programming.dev 3 years
Why would you hope I’m right? You want Argentina to collapse?
🤡
You bumped your head, mate? Better go see a doctor, as you sound very confused.
