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69 sats \ 3 replies \ @Signal312 1 Jun \ parent \ on: Hyperinflation and the Destruction of Human Personality econ
Here's a similar story from Zimbabwe (from the book Hard-Boiled Egg Index: Surviving Zimbabwe's Hyperinflation). Very interesting book, by the way. The main lesson appears to be - leave the country early.
It sends shivers down to my spine how accurate this is. Not only this has happened here already up to the last detail (and this is how indeed many stores with unaware owners broke in the past), but even the numbers are the same as current prices here.
And yes, the decades long decadence made it a cultural standard for fathers to instruct their sons right from childhood to leave the country as soon as finishing studies (despite how disheartening that is always for them, not really wanting that to happen, but feeling guilty to force their sons to bear decadence only to keep them close). Mine did, all did.
One of the eye widening feats Milei's team has achieved is to start reverting all of those deep structural socialist traits from the roots. It's all changing very fast now.
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It's really heartbreaking to read about. While we aren't yet descending into hyperinflation in America, we are starting to learn what it means to live in a low-trust society.
Hopefully, the fiat nightmare will be over soon. I think the wheels are beginning to come off.
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One reason I started lurking english-speaking sites as this so recently is because I'm not worried any more about Argentina but USA itself. No indicator shows signs of a slowdown but all the contrary. A storm is in the horizon my friend, we know very well how this works and what will ensue, and my greatest hope is reduced to ensure that the correct lessons will be learnt so that not that much time is wasted. I have been trying to humbly add my voice as a warning for months now. I even had a couple of interviews with Austin Petersen, both in twitter space and as podcast. Will keep trying to rise the message.
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