Good riddance. Can’t take a country keen on dollarization into an organization who’s primary goal is dedollarization.
Why doesn’t south America agree on a single currency like the Euro?
The Peso. The Sol. The Amero.
Because the governments would no longer be able to fake the exchange rate, and their socialist policies would’ve been reveald as a scams they are, without the keys to the money printer.
Also, who would be in charge of the monetary union? A bunch of countries that couldn’t even managed their own monetary systems?
Going with an existing foreign currency as a base is probably better until the situation stabilizes a bit.
Argentina and Brazil have apparently been looking at it https://www.reuters.com/markets/currencies/brazil-argentina-begin-preparations-common-currency-ft-2023-01-22/
I assume that the rest of Mercosur would be invited over time if it’s successful
Some countries would need to stabilise their economies before this would be viable, Argentina in particular with the huge inflation and debt problems would be too much of a liability.
Guess the ghost dog wants the country to starve. I hope he doesn’t get what he wants.
I don’t think he literally wants the country to starve. He doesn’t strike me like an evil fuck.
He is an incompetent ignorant, though.
Literally first paragraph from his bio in wiki:
Javier Gerardo Milei[note 1] (born 22 October 1970) is an Argentine politician and economist serving as the president of Argentina since December 2023. Milei has taught university courses in macroeconomics, economic growth, microeconomics, and mathematics for economists. He has written numerous books on economics and politics, and also hosted radio programs on the subject.
As we can see he’s basically accomplished veteran of all levels of economics. And regardless of capitalist economics being more or less worthless scam, there are countries run by it and not having nosedive into fascism and slavery in a week. Therefore we can assume that either he faked his entire career and nobody noticed that or he is doing what he’s doing completely on purpose.
Is he a good economist, though?
I mean, I can write books and host radio shows about quantum mechanics if I want. And I’m no physicist.
But regardless, if he’s a climate denier, that’s all I need to know.
Is he a good economist, though?
Considering his academic career, he has to be at least well regarded by academia circles. It does not of course preclude he is outright incompetent hack, but it stronly point out that he’s established figure in mainstream economics.
Of course he wouldn’t be first and not the last of “great economists” that run a country into the ground, but just as in case of people like balcerowicz or chicago boys, it’s not because incompetence but because dogmatically following utter nonsense and being the pawn to imperialism (to be fair at this point the question of competence stops being relevant).
I fully agree that Milei is at best dangerous to Argentina, but the country’s economy has been kinda fucked up for a while. Inflation has been mad and growth has been generally negative for at least a decade
Yes, but neoliberal shock therapy is not gonna make it better. If you look at history of neoliberalism, it made everything worse every single time.
But what is going to make it better?
The problem is that the election was between Captain Anachrocapitalism and a continuation of Peronist policies which included a lot of government intervention.
He was won because he ran against everything the government represented.
