What would suppose to close the central bank? is there any precedent? I believe that only iran and north korea don't have it but one thing is not having it and the other shut it down. What would that mean for the economy?
Argentina Thread : Milei wants NATO security cooperation
- Thread starter Pogue Mahone
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tldr; Effective dollarisation and the gov only being able to spend what they earn [net] in tax receipts as they wouldn't be able to print money. Obvious hyperinflation of the peso. (ps. both Iran and the DPRK have one. Lack of independence is different from non existence.)
Thank you for the response
Question for the argentinians or whoever knows their political system. Countries like US, european countries and many others, being the president doesnt equate do whatever you want, there is congress, senate and other types of organisms that the president or PM cant bypass. How argentina works and is there a majority or minority of milei's party?
https://www.tabletmag.com/sections/news/articles/argentina-jewish-trump-javier-milei
Utter lunatic.
Definitely not a trump, more of a naive baby.
Utter lunatic.
Definitely not a trump, more of a naive baby.Meet the new boss same as the old boss
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We’re entering dark times globally.
That is an understatement. Democracies have become way too complacent instead of being more aggressive against sick fecks such as those people.
What does Milei's election means for Brazil and Uruguay in regards to commercial relationships and diplomacy ?
In the end will be a big grift as always. He said that would eliminate the government, but I can't see touching anything relevant in health, education and anywhere
He got elected, he can start stealing like any other Argentinian politician
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Totally agree.
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Huh. This is all… a bit unexpected. What’s in it for him to make so many u-turns so quickly?
So it seems the infamous and ever-elusive Trump 'pivot' we were all waiting for landed at this fella's doorstep instead.
I still have hope for Trump's pivot in 2024
he’s the argentinian corbyn. he just realised that only shit heads seem to vote in numbers these days, and they’re easy to sell lies to. you hoodwink them and once you’re in power, you can run as you see fit.
Wouldn't that make him the Argentinian Starmer?
Dude looks like a cartoon character you'd see on family guy or big mouth
It’s easy to talk shit when you don’t have to make decisions.
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Feck the poor basically.
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What does head the ball autocorrect from?
This guys a clown.
He can borrow trump's caps.
Biden administration is a fan as well
Well, it's going as good as one would expect so far. 20-25% monthly inflation, with the promise of stabilization around April (now June). His first package of laws (around 600 of them, that more or less gave him special powers over the congress for a year) flunked in Congress, then a light version (with around 300 laws) was approved in general and in the internal discussion it was reformed to the point that the government itself decided to discard it. Not before threatening not to send any new laws through the Congress for the rest of the year 
. Of course, as this was happening Milei was visiting the Vatican and Israel, crying in front of the Wailing Wall and promising to bring Argentina's embassy to Jerusalem.
His latest fight is against the governors who opposed to his packages of laws (Ley Omnibus) especially the governor of the Chubut province. A presidential decree esentially defunds that province, as it uses a substantial part of its 2024 budget to amortize its debt with the central government. Several governors (mostly opposed to Milei) have supported Chubut and the next steps are unclear.
On the bright side, he achieved a fiscal superavit in January, the first in argentinian economy since 2012 which is a very good sign for the markets and the IMF. Sadly, this esentially came from removing subsidies from retired people, energy, public transport (whose fees have tripled in a month) and other cuts that esentially affect the middle class. We'll see how it goes from here.
. Of course, as this was happening Milei was visiting the Vatican and Israel, crying in front of the Wailing Wall and promising to bring Argentina's embassy to Jerusalem.His latest fight is against the governors who opposed to his packages of laws (Ley Omnibus) especially the governor of the Chubut province. A presidential decree esentially defunds that province, as it uses a substantial part of its 2024 budget to amortize its debt with the central government. Several governors (mostly opposed to Milei) have supported Chubut and the next steps are unclear.
On the bright side, he achieved a fiscal superavit in January, the first in argentinian economy since 2012 which is a very good sign for the markets and the IMF. Sadly, this esentially came from removing subsidies from retired people, energy, public transport (whose fees have tripled in a month) and other cuts that esentially affect the middle class. We'll see how it goes from here.
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I'm guessing "head the ball" means "heid the baw", which can also be translated as bawheid. It means the guy is a total moron.
It's one of those beautiful phrases, like gowl or fannybaws, that reminds the Irish and Scottish that we share more than just an undying resentment for the tea drinking, soap using English.
Emotive language. Powerful even.
I’m interested in how his economic policies work because nothing has worked for Argentina and they’ve had different ideological administrations.
A psychotic poor man's Trump. That he got elected shows what a crazy world we're living in.
He'll be shortly remembered as a clown and swiftly forgotten.
He'll be shortly remembered as a clown and swiftly forgotten.
First macro indicators:
Argentina devaluated argentinian peso and cut some expenses
70% of expenses cuts are:
- 38% on pensions
- 27% on public salaries
- 64% on public subsidies
- 86% on public infrastructures
Due to the devaluation of the argentinan peso:
- +9.6% export growth
- -14.3% import decrease
What it means a good commercial balance
This combination of factors has supposed the first surplus on the public treasury since 2012 by 2 billion euros that after paying interest debt ended with 500 million euros
the counterpart? poverty jumped from 49.50% to 57.4%
Is that a 1 step backwards to jump 2 forward? or a recipe for a disaster?
Argentina devaluated argentinian peso and cut some expenses
70% of expenses cuts are:
- 38% on pensions
- 27% on public salaries
- 64% on public subsidies
- 86% on public infrastructures
Due to the devaluation of the argentinan peso:
- +9.6% export growth
- -14.3% import decrease
What it means a good commercial balance
This combination of factors has supposed the first surplus on the public treasury since 2012 by 2 billion euros that after paying interest debt ended with 500 million euros
the counterpart? poverty jumped from 49.50% to 57.4%
Is that a 1 step backwards to jump 2 forward? or a recipe for a disaster?