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IMF says Argentine austerity should not hurt the poor

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Of course austerity is going to hurt the poor more than the rich, otherwise they wouldn't be the poor.

-2 ( +0 / -2 )

IMF says Argentine austerity should not hurt the poor

Ridiculous. The IMF has been the architect of austerity for the people to benefit corporations in many nations.

https://truthout.org/articles/an-economic-hit-man-speaks-out-john-perkins-on-how-greece-has-fallen-victim-to-economic-hit-men/

They are playing good cop to Milei's bad cop.

Milei's Hayek/Freidmanesque neo-liberalism has been tried before in many nations and the results have always, lets say, failed to trickle down.

https://apnews.com/article/argentina-poverty-levels-uca-study-milei-devaluation-d5cb0a20b1e768efdeafbad5bf05eded

2 ( +3 / -1 )

as always, socialists leave office with a country's finances in ruins. And conservatives come to the rescue.

listen to what RFK jr just tweeted (X'd?);

"after just 9 weeks in of Milei in power, the govt of Argentina has its first budget surplus in over 12 years. In US terms, Milei turned a 1.2 trillion-dollar annual deficit into a $400 billion surplus."

-2 ( +2 / -4 )

Stan - why don't you go ahead and tell us how he did that.

-2 ( +0 / -2 )

UChose - He axed useless govt waste and useless public servants. Its actually pretty easy. No free handouts.

-1 ( +2 / -3 )

Stan - let's see how that works out for them.

-3 ( +0 / -3 )

It seems to me like he just took a lot of private wealth (the deficit) and put it into the hands of the government (the surplus). Why does the government need a surplus when it can just print Pesos?

-3 ( +0 / -3 )

If there are too many Pesos in circulation, there is already a mechanism to pull that money out (taxation).

-1 ( +1 / -2 )

In the mid 880's Argentina just defaulted on international debts.

The world kept turning.

How much did taxpayers bail out banks in the GFC ?

Probably more than Argentina getting now.

Argentina at the start of the 20th Century was a very prosperous nation.

Had decades of USA CIA installed Military Fascists" governing " from the 60' until the Falkland war.

Any shift to the right in politics in this nation should be a concern

0 ( +1 / -1 )

Should be "mid 1980''s ".....

1 ( +1 / -0 )

This crazy clown will finish to sink Argentina..

Mark my words..

-1 ( +0 / -1 )

This crazy clown will finish to sink Argentina..

Well.... Argentina has had a lot of clowns during the last 30 years or so, from the left, centre left, centre right and populist (those are the worst kind of clowns)

So a right wing clown... may be as bad as the former, or may be will be the cure for Argentina. KInd of fight fire with fire, or "send a maniac to catch a maniac" sort of thing

0 ( +0 / -0 )

Sometimes outside disruptor's just what's needed to shake up establishment/corrupt politicians.

Good luck to Argentina, they've had tough time with inflation, due to in large part massive US inflation starting with Biden Admin with record deficit spending that continues, US rates in Treasury market moving UP now.

Many countries like Japan also seeing their currencies get crushed to due high US rates to combat inflation. Nigeria +33% inflation, largest country in Africa.

Whole world MAD at Money Printing G-7, KEY reason BRICS so compelling, dozens of countries now applying or in process of doing so, but not for Argentina just yet!

-4 ( +0 / -4 )

stanToday 08:38 am JST

as always, socialists leave office with a country's finances in ruins. And conservatives come to the rescue.

listen to what RFK jr just tweeted (X'd?);

"after just 9 weeks in of Milei in power, the govt of Argentina has its first budget surplus in over 12 years. In US terms, Milei turned a 1.2 trillion-dollar annual deficit into a $400 billion surplus."

No leader just waves a wand and causes that level of change. Other factors must be at play. Meanwhile US conservatives haven't left the US with a budget surplus in recent memory.

1 ( +1 / -0 )

stanToday 08:46 am JST

UChose - He axed useless govt waste and useless public servants. Its actually pretty easy. No free handouts.

I find that very unlikely as people depend on those "useless" salaries. Conservatives these days think they are coming in to knock things over and should be treated likewise.

1 ( +1 / -0 )

Scarp the IMF as it is yet another Colonial tool.

0 ( +0 / -0 )

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