Is Argentina heading toward economic crisis – again? | CNBC Explains

[camberiu]

 

[Ries]

The world is heading towards economic crisis.
The same basic battles, between ogliarchs and the people, are occuring everywhere.
I read an interesting quote this morning on an US political news site-
"The most powerful force in American politics today is anti-establishment fury at a rigged system."

and you could substitute Venezulean, or Chilean, or Russian, or Lebanese, or Turkish, or Polish, or Iraqi, or Catalan, or Hong Kong, or a dozen other countries, incuding, of course, Argentine, for "American" in that sentence, and it would be equally true.

We are seeing a global moment where the power of money has become so oppressive that Everybody is starting to protest and rise up.

 

[ben]

We are seeing a global moment where the power of money has become so oppressive that Everybody is starting to protest and rise up.

Serious question: Someone, or something, always has the power. What would you have it be, rather than money?
My parents are Soviet emigrés. I am somewhat familiar with the system where the power of money was, supposedly, not so oppressive.
Not sure if that’s the paradise anyone is looking for.

Is there a successful system anyone can point to, at any point in recent history, where money didn’t talk?

 

[Ries]

Serious question: Someone, or something, always has the power. What would you have it be, rather than money?
My parents are Soviet emigrés. I am somewhat familiar with the system where the power of money was, supposedly, not so oppressive.
Not sure if that’s the paradise anyone is looking for.

Is there a successful system anyone can point to, at any point in recent history, where money didn’t talk?

I think we can have a middle ground between Stalin and Bezos.
Not paradise, but, maybe Finland? where they still have millionaires, but they also have health care.

And, evidently, many many people around the world are just as upset as I am.
Russia is not exactly an example of enlightend democracy, but it is a useful shibboleth for the wealthy to wave at democracies.
I, too, have family members who were born in Russia- they left because of the cossacks, who were killing people because of who they were.
They moved to Pittsburgh, in a time when US income taxes topped out at 90%, and they did just fine.