Javier Milei was elected president of Argentina last November, and was inaugurated later in December, facing an ongoing and long-standing economic crisis that Milei claims was caused by the Peronist “socialist” agenda.
Blaming Argentina’s external debt and history of shitty monetary policy on “neoliberal policies“ is quote rich. Words have no meaning any more. Everything bad that happens is neoliberal.
Now do unemployment rate, poverty rate, homelessness rate, and everything else that’s skyrocketing under his disastrous rule. This is Argentina’s perennial political problem: the right comes into power and slashes public spending but tanks the economy, then people get upset because they don’t have jobs and they bring the left back into power, the left spends a lot of money and precipitates capital flight followed by inflationary waves, so people get upset and bring the right back to power, and the cycle continues. What Argentina needs is a new manufacturing strategy, so it’s no longer reliant on selling soy and commodities. Until it figures out a way to move up the value chain, it will get stuck in these political and economic crises.
Blaming Argentina’s external debt and history of shitty monetary policy on “neoliberal policies“ is quote rich. Words have no meaning any more. Everything bad that happens is neoliberal.
Now do unemployment rate, poverty rate, homelessness rate, and everything else that’s skyrocketing under his disastrous rule. This is Argentina’s perennial political problem: the right comes into power and slashes public spending but tanks the economy, then people get upset because they don’t have jobs and they bring the left back into power, the left spends a lot of money and precipitates capital flight followed by inflationary waves, so people get upset and bring the right back to power, and the cycle continues. What Argentina needs is a new manufacturing strategy, so it’s no longer reliant on selling soy and commodities. Until it figures out a way to move up the value chain, it will get stuck in these political and economic crises.