Argentina bond market plunder explained

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.”

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!*

In first speech, Argentina’s Javier Milei warns nation of painful economic shock

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

Argentina election 2023: what you need to know

Neocons are panicking over another possible Trump presidency

The Atlantic: Two Men Running to Stay Out of Prison

Liz Cheney warns US ‘sleepwalking into dictatorship

Robert Kagan: A Trump dictatorship is increasingly inevitable. We should stop pretending.

…We can expect more of this when the war against the “deep state” begins in earnest. According to Sen. Josh Hawley (R-Mo.), there is a whole cabal determined to undermine American security, a “Uniparty” of elites made up of “neoconservatives on the right” and “liberal globalists on the left” who are not true Americans and therefore do not have the true interests of America at heart. Can such “anti-American” behavior be criminalized? It has in the past and can be again.

So, the Trump administration will have many avenues to persecute its enemies, real and perceived. Think of all the laws now on the books that give the federal government enormous power to surveil people for possible links to terrorism, a dangerously flexible term, not to mention all the usual opportunities to investigate people for alleged tax evasion or violation of foreign agent registration laws. The IRS under both parties has occasionally looked at depriving think tanks of their tax-exempt status because they espouse policies that align with the views of the political parties. What will happen to the think-tanker in a second Trump term who argues that the United States should ease pressure on China? Or the government official rash enough to commit such thoughts to official paper? It didn’t take more than that to ruin careers in the 1950s.

Their panic just shows how out of touch they are with the working class! As for Kagan, there’s so much more that I could say, but for now I’ll just roll my eyes! 🙄

Argentina election 2023: what you need to know

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.

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 »

The Atlas Network and the Building of Argentina’s Donald Trump

Yves here. We’re featuring a post from openDemocracy on Argentina’s primary results that had far-right candidate Javier Milei beating the candidates of the two parties that have been in power for two decades. The post is telling, and not in a good way. Milei does advocate extreme views (not that he can go as far as he likes since even if he won a plurality again, he would still be leading a coalition government). And too many commentators forget that voters regularly move to the right in bad economic times, which Argentina is certainly suffering. It’s that the piece depicts him as a Trumpian outsider/madman, when Nick Corbishley’s post right after the primary results were in describes Milei’s considerable, if sometimes seamy, establishment connections…including to the Kochs:

How Javier Milei Upset Argentina’s Political Status Quo

Previously:

Is Argentina’s presidential frontrunner Javier Milei US’ “boy?” Rejects China+Mercosur, embraces $$

Orinoco Tribune Editor: There Was a Coup Against Pedro Castillo in Peru + Some Notes

[2017] Libertarian Atlas Network Pushes Latin America Right