Argentina bond market plunder explained
4) Globalist puppet Milei slashes government spending and privatizes a whole lot of sectors. This is the neoliberal “shock therapy.”
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Meanwhile, 54% of Argentinians are in poverty, consumer prices have tripled over the last year, the economy is in recession, and industrial production has been dwindling consistently.
Exactly as I predicted back in October 2023:
The vultures are ready to “make the economy scream” if Javier Milei wins!*
Vente Venezuela, the party of María Corina Machado, is connected to the National Democratic Institute and the Atlas Network via the Liberal Network for Latin America (RELIAL) and Liberal International. Edmundo González is just a stand-in for her.
Vente Venezuela (work in progress)
Previously:
US foreign policy seems to be utterly irrational. The US gets into one disastrous war after another — Afghanistan, Iraq, Syria, Libya, Ukraine, and Gaza. In recent days, the US stands globally isolated in its support of Israel’s genocidal actions against the Palestinians, voting against a UN General Assembly resolution for a Gaza ceasefire backed by 153 countries with 89% of the world population, and opposed by just the US and 9 small countries with less than 1% of the world population.
US Foreign Policy Is a Scam Built on Corruption
BUENOS AIRES, Argentina — It wasn’t the most uplifting of inaugural addresses. Rather, Argentina’s newly empowered President Javier Milei presented figures to lay bare the scope of the nation’s economic “emergency,” and sought to prepare the public for a shock adjustment with drastic public spending cuts.
In first speech, Argentina’s Javier Milei warns nation of painful economic shock
Related:
With soy and lithium trade in the balance, Argentina’s Milei has a China conundrum
The vultures are ready to “make the economy scream” if Javier Milei wins!*
Argentina election 2023: what you need to know
Far-right libertarian Javier Milei is leading the polls ahead of Argentina’s Oct. 22 presidential vote, but it remains a tight race between the top three candidates, three surveys showed.
Related:
Argentina election: from peso to dollar?
But dollarisation would also mean immediate recession and slump. It would have to start with a massive devaluation of the domestic peso monetary base. In a very optimistic scenario, if Argentina received a loan of say $12 billion from the IMF and used $5 billion as a reserve for the banking system and $7 billion to dollarise the monetary base, the domestic peso monetary base would still have to be reduced by nearly 400%. Argentine salaries (then in US dollars) would become among the lowest globally and poverty would rise to unprecedented levels. And Argentina is already in a recession with real GDP expected to drop by around 2% this year. So either way: peso or dollar, Argentine households would pay the price in living standards.
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Desperation has driven many Argentines to consider a ‘libertarian, anarcho-capitalist’ as president. If this were to happen, it will be going down another blind alley. Argentina’s capitalist economy will continue to fail.
Just scratching the surface:
Read More »Argentinians have taken to the streets of the capital, Buenos Aires, to protest against austerity measures imposed by the government following a deal with the International Monetary Fund (IMF).
Argentinians protest against IMF-imposed austerity measures
AP ‘conveniently’ leaves out the IMF deal! It’s almost as if they want Javier Milei to win (of course, they do)!
Previously:
At a press conference Sunday following the G7 summit in Hiroshima, Japan, President Joe Biden called on Republican House Speaker Kevin McCarthy to meet face to face to revive talks on a bipartisan plan to slash social spending in return for raising the nation’s debt ceiling and averting a default.
Biden proposes $1 trillion in social spending cuts after announcing $375 million more for war in Ukraine
Crisis-hit Pakistan has made various economic modifications including hikes in fuel prices, raising taxes, and others demanded by IMF to unlock the loan program.
IMF sets another condition for crisis-hit Pakistan to revive loan
Related:
Pakistan and the International Monetary Fund:
In 2018, Imran Khan became Prime Minister of Pakistan. For this, they arranged friendly loans from Saudi Arabia, United Arab Emirates and China to avoid tough IMF conditions. In 2019, when economic conditions worsened, they went to IMF for the twenty-second time for a loan of US$1 billion. IMF gave loan based on conditions such as hike in energy tariffs, removal of energy subsidy, increase in taxation, privatization of public entities and fiscal policies to the budget.
IMF bailout package — rescue or trap for Pakistan?
“The IMF’s agenda is not to strengthen global economies because if it does that, then the Fund itself will be out of business,” he said.
There is no reason to trust a longtime corporate stooge to serve as President Biden’s chief of staff.
The Myth of Jeffrey Zients
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