this post was submitted on 28 Dec 2023
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Austerity never works. I guess Milei went to the IMF school of running a country into ruin.
You realize that Argentina was already run into the ground right? They need radical, cost-cutting, change. I am curious to see what happens.
Yeah, the laid off people, workers, they are also curious. They realize they don't have jobs
Learn history and economics and you won't need to be curious
He's devaluing the currency (apparently dollarizing it was even too radical for his supporters) and applying shock therapy and thus building an export Economy and seeling off state assets for pennies to foreign multinationals.
Basically recreating 90s Russia which worked out pretty good as we all know
Making things radically worse is entirely possible. They've been in dire straights for years but this is trickle down economics bullshit. None of this will help the people of Argentina past the very rich