Cristina warns Milei era will end in major crisis

[Lanick]

Economics 101 (Milei’s Edition):

1. Letting prices soar until no one can afford anything
2. Presenting the absence of inflation as a sign of economic well-being
3. Declaring tax amnesty for repeat offenders, because there’s no money
4. Offering even more tax amnesty, just in case someone was left out
5. Begging for loans you can’t possibly repay
6. Defunding universities to boost innovation
7. Effectively blaming your predecessors for everything
8. Setting expectations that people won’t see any positive results in their lifetime, and that's OK
9. Forcing retired people to choose between food and medication
...

Would any accredited university offer an economics course based on this syllabus?

Ok. You’re right. Is it something Milei created? You’re talking as if things were fine and Milei came and ruined everything.

 

[redlobster]

Ok. You’re right. Is it something Milei created? You’re talking as if things were fine and Milei came and ruined everything.

This is already covered in item #7: “Effectively blaming your predecessor for everything.”
Can you name some actual economic improvements Milei has made?

 

[Lanick]

This is already covered in item #7: “Effectively blaming your predecessor for everything.”
Can you name some actual economic improvements Milei has made?

It was not the Torries and now Labour and I’m blaming the predecessor. You’re talking extreme leftist nonsense rhetoric. They ruined the country, the predecessors. They’re the one to blame more than anyone.
Yes he is ending protectionist policies. Bringing foreign investment.
Trying to get all under the pillow dollars into the economy.
Changing the nonsense currency policy hence exporting feasible.

These are the ones I can tell of the top of my head.

 

[redlobster]

You’re talking extreme leftist nonsense rhetoric.

There’s nothing leftist about it. I’m simply stating facts.
If anything I said isn’t true, you’re welcome to point it out.

Yes he is ending protectionist policies. Bringing foreign investment.
Trying to get all under the pillow dollars into the economy.
Changing the nonsense currency policy hence exporting feasible.

Are the investments actually flowing in? Do you see foreign companies opening plants, hiring workers - or is it one of those things that just won’t happen in our lifetime?

We had full dollar convertibility under Macri too, and that isn't a silver bullet by itself.

 

[Lanick]

There’s nothing leftist about it. I’m simply stating facts.
If anything I said isn’t true, you’re welcome to point it out.



Are the investments actually flowing in? Do you see foreign companies opening plants, hiring workers - or is it one of those things that just won’t happen in our lifetime?

We had full dollar convertibility under Macri too, and that isn't a silver bullet by itself.

Investments won’t flow in immediately, come on! It doesn’t happen overnight. I guess you didn’t go beyond econ 101! https://arbitrationblog.kluwerarbit...foreign-investment-regime-key-considerations/

We had everything in this country. Even Walmart. Foreign investment left the country almost overnight though.

So you were expecting foreign investment pop up right away?

 

[cortazar]

By economic metrics, the government has lowered the inflation rate, removed the CEPO, and cut enough to have a budget surplus. Conventional economic wisdom would say these put the country at less default risk and in a better position for investment. You can dispute whether the methods were worth it or whether the benefits will actualize, but the metrics are there.

There is also the poverty decline; I haven't looked into those numbers and the calculation is much less straightforward than the aforementioned, so I won't comment. But external organizations have also claimed poverty has gone down.

In terms of economic well-being, surely some members of the middle class are enjoying their new purchasing power abroad. This leads to where I am skeptical of their monetary strategy. High local prices should slow foreign investment and hamper exports. But after hyperinflation, many Argentines view purchasing power in dollars as the indicator of national economic health.

My prediction is that some serious economic shock will come but not soon― somewhere between year 4 and 8 of Milei presidency. The cause will either be from trying to maintain this overvalued position or through the conventional boom-bust of irresponsible deregulation. Probably the more transformative changes will come in the second term.

The economic recovery will also be accompanied by various social and legal changes. These could leave the average person with less intellectual freedom and more economic vulnerability.

 

[LuckyLuke]

[/QUOTE]

By economic metrics, the government has lowered the inflation rate, removed the CEPO, and cut enough to have a budget surplus. Conventional economic wisdom would say these put the country at less default risk and in a better position for investment. You can dispute whether the methods were worth it or whether the benefits will actualize, but the metrics are there.

This is a great start to discussing the points rationally. We forget that government is, in principal, a body elected by the people as responsible for the distribution of collective resources. The beneficiaries of those resources change over time depending on the necessities of the voting base. Those that receive resources today may be pleased with the current government's decisions. Those that have lost previously allocated resources may be sour about the current government's decisions. This does not mean that the current government is inherently bad or good (dictatorships aside). We must remember, when we hear criticism of government policies, to understand the position of the critic. What is their socio-economic status, how has the redistribution of resources affected their status, and what are they seeking to restore?

 

[redlobster]

This is a great start to discussing the points rationally... We forget that government is ... We must remember, when we hear criticism of government policies, to understand the position of the critic. What is their socio-economic status, how has the redistribution of resources affected their status, and what are they seeking to restore?

Do I detect a royal "we" here? If your brain only responds to economic stimuli, that's not rationality - it's a clinical condition.

 

[LuckyLuke]

Do I detect a royal "we" here? If your brain only responds to economic stimuli, that's not rationality - it's a clinical condition.

Oh look an ad hominem, you're off to a great start. Read the title of the thread buddy. We're talking about the social consequences of a political leader's economic policies...that spells out Socio-political-economics. You want to talk about other stimuli, go to another thread.

Do us all a favor and actually state your point about the title. It's called "Cristina warns Milei era will end in major crisis".

 

[aloevera]

It was not the Torries and now Labour and I’m blaming the predecessor. You’re talking extreme leftist nonsense rhetoric. They ruined the country, the predecessors. They’re the one to blame more than anyone.
Yes he is ending protectionist policies. Bringing foreign investment.
Trying to get all under the pillow dollars into the economy.
Changing the nonsense currency policy hence exporting feasible.

These are the ones I can tell of the top of my head.

It's fair and rightful to condemn the previous Alberto Fernandez presidency for all of it's wrongdoings, however, defunding and attacking universities and research institutes and organizations is a direct threat to the entire future of the country. Every country needs doctors, lawyers, engineers, scientists, researchers, and of course, artists and intellectuals as well - no matter how much rightists such as Milei hate these people. What is a country without these groups of people? Milei wants to close the CONICET. He has repeatedly attacked cultural institutions and intellectuals who disagree with him, and on top of that, over 40,000 people lost over ~$250 million collectively as a result of Milei's promotion of the $LIBRA cryptocurrency scam. Prior to becoming President, he also promoted crypto trading courses on Instagram - and we all know that crypto trading is essentially gambling. Who really ruined the country? I have no idea why you insist on defending him so vigorously!