Argentina's "Miracle Turnaround" \ stacker news ~econ

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Argentina's "Miracle Turnaround"www.profstonge.com/p/argentinas-miracle-turnaround

1472 sats \ 23 comments \ @k00b 23 May econ

Pretty epic turnaround. I'm curious what this is doing to the day-to-day of normal people though. Even us financial freedom folk admit dramatic change for the better probably hurts someone. Maybe Argentina was just injuring itself, breaking windows and such, that much to begin with?

He's slashed inflation by four-fifths, the peso is finally stabilizing, and he's tamed a monster 5% budget deficit -- equivalent to nearly $2 trillion in US terms -- into what's apparently an enduring budget surplus.

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210 sats \ 0 replies \ @franzap 24 May

Things have gotten very expensive (for our local standards at least) including in dollar terms.

They have lowered tariffs for certain imported products but the local competition still has a high tax burden, stupidly unfair for local businesses. For example I've seen imported cheese (something rare over here) cheaper than some local brands.

241 sats \ 5 replies \ @didiplaywell 23 May

Exactly, the situation was so bad that while it did hurt to many, it didn't sparked an outcry for many reasons:

The crisis was already in place, and expected to worsen on any case. It did hurt a lot the first four months, but it didn't changed much anyone's reality... except for the parasites :D
Everyone knew that it was going to hurt, and Milei always stated that explicitly.
Literally no day passes in which a mob scheme from the previous government is uncovered (surpassing any extremes known), exposed, dismantled, and decisively corrected.
The economy has stabilized much faster than initially expected by anyone, helped mostly due to renovated confidence.

0 sats \ 4 replies \ @SilkyNinja 23 May

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10 sats \ 3 replies \ @didiplaywell 23 May

Anyone that """"""works"""""" for the state

0 sats \ 2 replies \ @cascdr 24 May

If I ever hear someone utter the word "government worker" I correct them to say "government employee"

I'd never disrespect the word work like that.

0 sats \ 1 reply \ @didiplaywell 24 May freebie

We do here the exact same thing. In Argentina the spanish expression for "government employee" has come to mean for decades "someone who lives greatly without working". It's literally used that way, someone will say to you for example "what are you doing just laying there? are you a gov employee?? come here to help!"

110 sats \ 0 replies \ @Undisciplined 23 May

With any luck, the losers will just be the corrupt grifters who have been syphoning Argentina's wealth for generations.

20 sats \ 2 replies \ @cristaiji 23 May

Good article, I was sceptical about Milei mainly due to Whitney Webbs comments.

I’ve just subscribed to Peter St Onge.

0 sats \ 1 reply \ @SilkyNinja 23 May

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0 sats \ 0 replies \ @Bell_curve 23 May

CIA asset

10 sats \ 0 replies \ @tomlaies 23 May

Love to see it. Might turn even better once the turmoil waves flatten.

22 sats \ 1 reply \ @cascdr 24 May

I'm not totally sure but colleagues from Argentina told me the deregulation of rental properties (apparently regulations were absurd) brought way more landlords into the market and dropped housing pricing by a lot.

I wish more people were economically literate so we could have more of those types of benefits in more places. Even if you think a regulation is necessary it's worth thinking about things as cost benefits. But a lot of people just don't really seem capable of that.

0 sats \ 0 replies \ @franzap 24 May

This is correct

11 sats \ 0 replies \ @Coinsreporter 24 May

The reality is very different from what Javier wants to show the world.

1 sat \ 0 replies \ @Athena 24 May

This article is so helpful to me as I was very eager to know about the economy, budget surplus and inflation of Argentina.

0 sats \ 0 replies \ @IamSINGLE 24 May

Javier has just turn it around for a shirt run. It's not a solution. As he promised before the elections that an adoption to Bitcoin is the way ahead but he hasn't even talked about Bitcoin. He is now busy with his fiat shit.

0 sats \ 0 replies \ @Satosora 23 May

Seems like he did quite a bit of work. If only the USA could make some of these changes.

110 sats \ 4 replies \ @SilkyNinja 23 May

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30 sats \ 2 replies \ @ca 23 May

I think it's a bit disgusting how the journalist does not demonize leftist identity enough after it's caused 50% of poverty and 10% of extreme poverty in the past 2 decades in Argentina.

Mainstream view is the opposite, closer to your view, you'll enjoy reading this more: https://time.com/6980600/javier-milei-argentina-interview/

Quite disingenuous narrative, though.

0 sats \ 0 replies \ @Bell_curve 23 May

Thank you

0 sats \ 0 replies \ @elvismercury 24 May freebie

It made me giggle that you don't think Peter St. Onge demonizes leftists enough. I'd bet money nobody's ever said that before.

0 sats \ 0 replies \ @didiplaywell 23 May

Leftist identity can't be demonized enough, but I'm glad that for the first time in recent history an article of a standard mass media dared to go against leftist narrative, that's one for the history books. Times are changing for good, and this man is largely responsible.