Argentina - Pros Cons
- Thread starter wellington
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To cut spending on the army would be his huge mistake. Argentina had wars before and certainly would need its army again at some point. Ukraine did just this mistake and now foreign troops occupy one quarter of its territory.
https://www.theguardian.com/world/2023/dec/29/milei-argentina-brics-bloc
news like this and in Guardian... sweet
news like this and in Guardian... sweet
If I were you... I will wait a few months before putting money in Argentina. I'm also interested in doing it but first we need to see if Milei at least will be able to get accepted the project he sent to the congress this week
best bet, by moving there and doing fdi.
After all these years of high mismangement every formal structure and official capital market is dead.
Please read the below link and make sure you are aware of Argentina's track record of failure.
A Timeline Of Argentina's Sordid History With Default
https://www.businessinsider.com/a-timeline-of-argentinas-sordid-history-with-default-2014-7---- quote start
Menem spent the 1990s cultivating foreign investment, slashing import tariffs, and privatizing money-losing state enterprises. Inflation fell to single digits, and Argentina was for a time hailed as a poster child for free-market reforms by the International Monetary Fund and others.
By the time Menem left office in 1999, however, rampant corruption was scaring off many investors. Contagion from financial crises in East Asia and Russia caused capital to rush out of Argentina almost as quickly as it had come in. The currency peg that Menem used to tame inflation became untenable as the government, unable to print money, borrowed it instead.
In 2001, unemployment soared beyond 20 percent, and reports surfaced of widespread hunger and malnutrition in a country that had long prided itself as being one of the world's breadbaskets.
When another wave of riots and looting reached the capital, Menem's successor, Fernando de la Rua, resigned. It was a period that would see five presidents in just two weeks.
Before the crisis ended, the economy had shrunk by a fifth and thousands of young, educated Argentines had emigrated to their grandparents' ancestral homes in Europe. The government also stopped payment on more than $100 billion in debt, the world's biggest-ever sovereign default.
----- quote end
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
China suspends US$6.5 billion currency swap agreement with Argentina
https://www.scmp.com/news/china/dip...s65-billion-currency-swap-agreement-argentina
Argentina Surpasses Venezuela With 211% Inflation In 2023
https://menafn.com/1107711464/Argentina-Surpasses-Venezuela-With-211-Inflation-In-2023
---- quote start
Argentina recorded an unprecedented annual inflation rate of 211% in 2023, a peak not seen since the early 1990s.
Authorities released this data on Thursday. President Javier Milei, who took office in December, is focusing on strict austerity to combat this hyperinflation.
The inflation rate for December was 25.5%, just below what was predicted. This rate came after President Milei's administration devalued the peso.
Milei has committed to controlling inflation since his first day in office, December 10.
---- quote end
I stand by what I said about him and his policies. Again good luck to him and wish the best for people of Argentina.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
I mean, you can't expect that after 20 years on recession and with artificially suppressed prices by the government the inflation rate is not high once you finally remove those subsidies. The same happened in Venezuela with oil: +15 years with oil prices lower than water, you get +1000% of inflation once you can't continue subsidizing it and it goes to real prices
well that might have been special effects bc parallel exchange rates are being eliminated and hence the offical peso rate ought to go down a lot and hence inflation numbers go up even in the crooked gov stats.
It can be checked by looking up the dolar blue rate and using some official money exchanger service or remitance (these two rates should be close to each other).
Also for the smarts who can achieve to hold on to hard currency, high inflation is a guarantee for ultra low cost of living, but that might be not be available going forward should these policies be successful.
Sure, the problem with that logic is that at some point it breaks the country and it brings a lot of undesired effect IE Bad services, increasing criminality rate, lack of products, etc etc... And with a country where its politicians only skill is devaluating the money, it's better to actually remove that possibility
It's very difficult to fight corruption when you're surrounded by corrupted people.
I'm surprised Bukele is still alive.
*My grandparents and my mother lived in Argentina back in the 50's and it was way better than living in Europe. Buenos Aires was the Paris of South America.
Up until 1962, the Argentine per capita GDP was higher than that of Austria, Italy, Japan, and of its former colonial master, Spain.
So, which country will be the next Argentina? I say Spain, Socialism and Communism is a Cancer on any economy, once it spreads there's no way of curing it.
To steal from Peter to gift to Paul.
To unclothe Peter to clothe Paul.
To unfeed Peter to feed Paul.
Ad nauseam...
The question remains... Who the H3ll wants to be Peter? 😳
PS. For the sake of clarity, I don't want to be Peter...much less Paul! 🙄
The only reason Spain is not a s**t hole today, is because is in the EU. Take the EU "benefits" out from the country and it wouldn't last a few years.
Small country benefits
Hopefully the EU kick them out soon and allow them to drown in debt, inflation and socialism.
you pretty much are at the bottom of it there. seems to go up now. but yeh that thing is the core cancer in latam, brazil is also a poster child of destroying currencies. but as I said, it can be arranged.
they wont since thats what the eu thrives on. it is hell bent on socialism, totalitarian control and increasing misery and poverty thru socialism. While bullying small countries and handing cash out to everyone outside europe corrupting the world with their nonsense while crushing everyone inside (except the rulers which have tax exempt salaries and private jets free of fuel tax) by aforementioned methods.
The eu will try to snag the remaining countries in to devour their wealth to continue feeding on for a few more years.
Last edited: Jan 17, 2024
Milei, introducted by Schwab at WEF...
starts at 4:00 , 25 mins long, embed below.
Schwab: "great honor to welcome here the freely elected"
*brief silence, wide arms in disbelief* "President of Argentina... " rof/%
Schwab: "some people would say, with radical methods, you introduced new spirit to Argentina"
Schwab: "we are all eager to listen to you"
and then Milei literally starts with:
"Western world is in danger. And it is in danger because those who are supposed to defend the values of the West are co-opted by a vision of the world that inevitably leads to socialism, therefore to poverty. Motivated by some well-meaning individuals willing to help others, motivated by the wish to belong to a privileged cast"
Then he goes to say that collectivism is the cause of all problems.
Gives an austrian school economy lesson and people fall asleep...
While everyone's asleep he literally says that free trade capitalism ends hunger and extreme poverty across the world.
"Everyone's a socialist with other people's money" and alludes that taxation is theft. "A successful entrepreneur is a hero, private property is sacred" and so on. etc rof/%
And then "100 million deaths caused by socialism"
Goes on saying that neoclassical liberals don't understand how things works and just blame market failures... but he say market failures do not exist as it's just a transfer of property.
"The state holds a monopoly on violence"
"Whenever you heard someone wanting to correct a market failure, as a result of having fallen in love with a failed model (neoclassical liberalism), you are opening the doors to socialism and condemning people to poverty... state intervention is harmful. The empirical evidence is the solutions proposed by collectivists is not greater freedom, but more regulations, leading a downward spiral of regulations until we are all poor... and we all depend on a bureaucrat sitting in a luxury office."
"The socialists having failed on economy then started other conflicts in other sectors like the unnatural fight between man and woman" rof/%
at this point everyone was like 😱
and goes on talking about radical feminism agenda has produced lots of bureaucrats that have not contributed anything to society like ministry of women or all the international organisations...
then goes hard to climate change, population control and mechanisms of the bloody abortion agenda 😱
"Neo marxists appropriated media culture, universities, and also international organisations" saying the latter are the most damaging as they have lot of influence on political decisions.
"Luckily there are more and more people fighting against these ideas [...] otherwise poverty, socialism, less freedom..."
"socialism today doesn't mean to control the means of production, but to control every aspect of the lives of individuals, by printing money, subsidies, controlling interest rates, debts, regulations, can control the lives and fate of millions of people"
"A good deal of political offers in most Western countries are collectivists variants: nazism, fascism, socialism, social-democrats, democrats-Christians, national socialists, neo keynesians, progressives, populists, or globalists they are all collectivists so... there are no major differences among them"
"they all say that the state should steer the life of individuals"
"...if measures area adopted that hinder the free functioning of markets, free competition, free price system, if you hinder trade, if you attack private property the only possible fate is poverty"
FINAL CLOSURE:
Therefore I would leave a message for all the people of the world: do not be intimidated either by the political cast or parasites who live off the state, do not surrender to political class that only want to stay in power and retain its privileges. You are social benefactors, you're heroes, you're the creators of the most extraordinary period of prosperity we've ever seen. Do not let tell you that your ambition is immoral. If you make money it's because you offer a better product at a better price, therefore contributing to general well being. Do not surrender to the advance of the state. The state is not the solution, the state is the problem itself. You are the true protagonists of this story. And rest assured that today Argentina is your unconditional ally.
Thank you very much and long live freedom, damn it!
*timid applause in the room*
*Comments in the video are turned off.*
Last edited: Jan 17, 2024
starts at 4:00 , 25 mins long, embed below.
Schwab: "great honor to welcome here the freely elected"
*brief silence, wide arms in disbelief* "President of Argentina... " rof/%
Schwab: "some people would say, with radical methods, you introduced new spirit to Argentina"
Schwab: "we are all eager to listen to you"
and then Milei literally starts with:
"Western world is in danger. And it is in danger because those who are supposed to defend the values of the West are co-opted by a vision of the world that inevitably leads to socialism, therefore to poverty. Motivated by some well-meaning individuals willing to help others, motivated by the wish to belong to a privileged cast"
Then he goes to say that collectivism is the cause of all problems.
Gives an austrian school economy lesson and people fall asleep...
While everyone's asleep he literally says that free trade capitalism ends hunger and extreme poverty across the world.
"Everyone's a socialist with other people's money" and alludes that taxation is theft. "A successful entrepreneur is a hero, private property is sacred" and so on. etc rof/%
And then "100 million deaths caused by socialism"
Goes on saying that neoclassical liberals don't understand how things works and just blame market failures... but he say market failures do not exist as it's just a transfer of property.
"The state holds a monopoly on violence"
"Whenever you heard someone wanting to correct a market failure, as a result of having fallen in love with a failed model (neoclassical liberalism), you are opening the doors to socialism and condemning people to poverty... state intervention is harmful. The empirical evidence is the solutions proposed by collectivists is not greater freedom, but more regulations, leading a downward spiral of regulations until we are all poor... and we all depend on a bureaucrat sitting in a luxury office."
"The socialists having failed on economy then started other conflicts in other sectors like the unnatural fight between man and woman" rof/%
at this point everyone was like 😱
and goes on talking about radical feminism agenda has produced lots of bureaucrats that have not contributed anything to society like ministry of women or all the international organisations...
then goes hard to climate change, population control and mechanisms of the bloody abortion agenda 😱
"Neo marxists appropriated media culture, universities, and also international organisations" saying the latter are the most damaging as they have lot of influence on political decisions.
"Luckily there are more and more people fighting against these ideas [...] otherwise poverty, socialism, less freedom..."
"socialism today doesn't mean to control the means of production, but to control every aspect of the lives of individuals, by printing money, subsidies, controlling interest rates, debts, regulations, can control the lives and fate of millions of people"
"A good deal of political offers in most Western countries are collectivists variants: nazism, fascism, socialism, social-democrats, democrats-Christians, national socialists, neo keynesians, progressives, populists, or globalists they are all collectivists so... there are no major differences among them"
"they all say that the state should steer the life of individuals"
"...if measures area adopted that hinder the free functioning of markets, free competition, free price system, if you hinder trade, if you attack private property the only possible fate is poverty"
FINAL CLOSURE:
Therefore I would leave a message for all the people of the world: do not be intimidated either by the political cast or parasites who live off the state, do not surrender to political class that only want to stay in power and retain its privileges. You are social benefactors, you're heroes, you're the creators of the most extraordinary period of prosperity we've ever seen. Do not let tell you that your ambition is immoral. If you make money it's because you offer a better product at a better price, therefore contributing to general well being. Do not surrender to the advance of the state. The state is not the solution, the state is the problem itself. You are the true protagonists of this story. And rest assured that today Argentina is your unconditional ally.
Thank you very much and long live freedom, damn it!
*timid applause in the room*
*Comments in the video are turned off.*
Last edited: Jan 17, 2024
The EU will never kick anyone out, they had the chance to do that with Greece and nope! They gave Greece a bunch of money and problem solved, at least for a few more years.
The EU is desperate to keep the union going... Spain, Greece, Portugal, and Italy should have never been allowed to join the EU. They all had very high debt to GDP, but they made a massive hole and let them all in hoping they would gradually reduce that debt, little did they know....
You are absolutely correct, Spain is a poor country that is only surviving thanks to all that money they get from the EU.
The Covid years have been great for Spain, they have increased their debt to unprecedented levels, and now Spain is getting a bunch of millions from the EU. They must be praying for another pandemic.
I don't know what the EU is thinking, all that money is gone for good, and all that debt is not going anywhere.
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