Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

TexasTowelie

(112,558 posts)
Thu Dec 21, 2023, 06:21 AM Dec 2023

Argentina's president Milei pushes austerity plan despite protests - DW News



Argentina's newly elected president Javier Milei has announced that he plans to change the country's economic system by deregulating it using his presidential powers. He said he plans to change more than 300 regulations to lay "the foundations for the reconstruction of the Argentine economy and restore freedom and autonomy to individuals, removing the State from their shoulders. The goal is to start along the path to rebuilding the country," Milei said in a speech broadcast on television and radio. Milei has vowed to pull Argentina out of economic distress but has warned that economic "shock" treatment is the only solution. He has also warned the public that the economic situation will get worse before it will get better.
1 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Argentina's president Milei pushes austerity plan despite protests - DW News (Original Post) TexasTowelie Dec 2023 OP
Milei's trying to force the dollarization of Argentina by way of a depression peppertree Dec 2023 #1

peppertree

(21,695 posts)
1. Milei's trying to force the dollarization of Argentina by way of a depression
Thu Dec 21, 2023, 10:19 PM
Dec 2023

The biggest obstacle to that pipe dream of his, has always been not so much political - but the obvious fact that Argentina has 40 trillion pesos in deposits, plus 6 trillion in cash.

There is no way in hell he can find the dollars needed to compensate everyone for all that - unless (he believes) he can force businesses and families to burn through all those pesos themselves.

And the only way to accomplish that, is through a hyperinflation/depression.

I doubt he'll last long enough to impose his dollarization delusion - but one thing's certain: this mega-crisis he's inflicting on them, will take years to recover from.

Something Argentines are used to by now, at least.

Latest Discussions»Issue Forums»Foreign Affairs»Argentina's president Mil...