Javier Milei unravelled

[Murray Rothbard]

https://twitter.com/x/status/1958140630858670501

 

[LuckyLuke]

One has to wonder how this isn't any different than Massa printing pesos to buy dollar futures. Milei is just approaching the same problem from the other exchange rate end by vacuuming up whatever excess pesos he can to restrain potential leverage against the dollar. Which will only create future Treasury peso emission problems paying out these "super tasa" rates.

The real damage in all this "kabuki theatre economics until election day" is the crashing availability of affordable credit to small businesses (which are already reeling from collapsing demand & rising costs), since these higher BCRA rates create the "lending rate floor" that lending institutions use originating new loans.

Cheer up though, local businesses can sleep easy knowing that Argentine consumers are eager to spend...in Bolivia.

 

[QuilmesSlo]

He’s got to keep the system sort of moving until Argentina has enough oil, gas, and minerals exports for serious foreign exchange exports. It’s dicey but it is what it is.

 

[FrankPintor]

He’s got to keep the system sort of moving until Argentina has enough oil, gas, and minerals exports for serious foreign exchange exports. It’s dicey but it is what it is.

"He’s got to keep the system sort of moving until the elections". There, FTFY.

Funny you should mention oil, gas, and minerals exports (plus electricity), since Milei did his best to screw up the investment projects that were ready to go.

 

[QuilmesSlo]

"He’s got to keep the system sort of moving until the elections". There, FTFY.

Funny you should mention oil, gas, and minerals exports (plus electricity), since Milei did his best to screw up the investment projects that were ready to go.

I think milei’s minister of mines is the brightest spot in the cabinet and if you give him time you’ll see what can be done.

 

[FrankPintor]

I think milei’s minister of mines is the brightest spot in the cabinet and if you give him time you’ll see what can be done.

His LinkedIn profile is impressive, I'll give you that. The cabinet sure needs some bright spots. However he's not a minister, just a secretary within the Economics ministry, right? Who knows how much freedom of action he'll have.

 

[Rich One]

https://twitter.com/x/status/1958140630858670501

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