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?
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?
No, because I don’t like Milei and his ideas. If it works in Argentina, alt wing all around the world will get political traction.
They aren’t working, but they still gain traction because they represent the class interests of imperialists.