Are we depressed, yet?

[dlish]

I was out for lunch today with a some of my local Argie friends, business owners in the textile business, upper middle class folk. They were commiserating about how terrible business is. They told me that because Milei lifted restrictions on who can import, a few months back a whole crop of new people decided to get into the same business and import textiles from China. The Chinese suppliers are happy to provide credit, so it was easy for these new players to ship in entire containers of fabrics. Now the market is flooded with tons of supply, and demand is low anyway thanks to the crisis, and nobody is selling.

Here’s the kicker - so now these new wannabe businessmen, eager to get out ASAP before they’re stuck in debt to the Chinese suppliers, are pricing their stock at cost to dump it as fast as possible, killing the whole market. I assume similar things are happening across other import industries.

By the way these friends all voted for Milei, and they all said they regret it. So even the business owners are regretting Milei now.

Anecdotal I know, but I think he’s in for a real beating come October 26.

 

[Ruta Otto]

"Anecdotal I know, but I think he’s in for a real beating come October 26."

From your mouth to God's ear.

 

[RichardAlem]

It's a nice day; with nice weather and my Schadenfreude index well into positive territory thanks to this thread.

Gym workout, coffee in the park and then a leisure read of this peer-reviewed article to make the day even more enjoyable.

Personality Traits, Mental Illness, and Ideology

Survey data show that extreme liberals have poorer mental health than conservatives. Could this be linked to greater emotional vulnerability?

www.psychologytoday.com

 

[Che1990]

I was out for lunch today with a some of my local Argie friends, business owners in the textile business, upper middle class folk. They were commiserating about how terrible business is. They told me that because Milei lifted restrictions on who can import, a few months back a whole crop of new people decided to get into the same business and import textiles from China. The Chinese suppliers are happy to provide credit, so it was easy for these new players to ship in entire containers of fabrics. Now the market is flooded with tons of supply, and demand is low anyway thanks to the crisis, and nobody is selling.

Here’s the kicker - so now these new wannabe businessmen, eager to get out ASAP before they’re stuck in debt to the Chinese suppliers, are pricing their stock at cost to dump it as fast as possible, killing the whole market. I assume similar things are happening across other import industries.

By the way these friends all voted for Milei, and they all said they regret it. So even the business owners are regretting Milei now.

Anecdotal I know, but I think he’s in for a real beating come October 26.

The plus side of this is that textiles and clothing is cheaper than before, benefitting the majority. It’s how it works in many other parts of the world. These businesses will need to adapt and evolve, survival of the fitness, just like it is nature.