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18 sats \ 0 replies \ @oklar 12 Jan \ parent \ on: Milei is a vintage Latin American populist inflationist - Saifedean thread econ
I think there's a clear two sides to how I read the effectualness.
In terms of economic and personal freedom, time will tell, and I guess it depends on things like the IMF leaning on nations to make changes which may or may not benefit national interests. Often not. Alternatives are that other power blocks lean on Argentina and exploit. I hope they find a way. It's hard to stay independent but a worthwhile endeavor. I've no idea whether the collective will can do it in Argentina, I hope there is.
From the thread, the facts are:
- A sharp increase on M0 money supply and M1, M2, M3 all continued to incease
- As of recent years, Argentina has a government spending deficit, but nowhere near as extreme as previous years
- Peso/USD exchange rate has declined (this is inline with most economies) apart from those that artificially peg their currencies to the Dollar
- Real market rates have seen a meaningful increase in exchange rate (BIS figures)
@DarthCoin What did Argentina do with it's gold holdings exactly? Did it lease it out or sell it off?