He did it!
did what?
>>60258226Argentina got approved for like a $20 billion dollar bailout by the IMF because of its strict austerity measures. Milei says they will be the fastest growing economy of the next 30 years. Iunno about that but we'll see.
>>60258247Lol
>>60258200he will be hanged along with his supporters, godspeed.
>>60258247oh so they proved they aren't run by socialist niggers anymore and the IMF is gonna relieve some of their debt? Argentina has been winning a lot lately. did anything come from their plan to be the first tariff-free partner with USA?
>>60258303That last part was not in the news, but multiple sources from the last couple weeks suggest it is still his intentions. >>60258286That is rude.
>>60258325Why don't you just join them anon jeez, obsessed. You don't even really believe in anything deep down anyway.
>>60258226He is removing commie currency controls with the IMF money. It was one of the last hurdles left.He lowered inflation, deregulated the economy, got a budget surplus running, the economy is growing but some large investments were sitting it out because of the currency controls the previous govt left behind. Now if he just keeps lowering taxes and signing FTAs I would imagine things working out well for arg.>>60258286In January he had the 3rd highest approval rating in the world.
>>60258345I may have overexagerrated but if he was anti israel and anti usa he never would have gotten the loans.While doing everything else similar.Thats just a fact you can deny.
>>60258336It's to remove currency controls as the Central Bank was bankrupt. The treasury is in the black (budget surplus) but the Central Bank was left in a disastrous state with no foreign reserves. The loan is to replenish CB reserves because Argentina cannot wait for another year of beefing up reserves to remove currency controls it needs to do it now.
>>60258247yeah....
>>60258200Just bought more ARGT thanks
>>60258355fake numbers just like inflation, which is going up again nowBukele should be first btw
>>60258439Inflation has been going down every month since he took office. March was the first reversal no shit since the currency will be loosened up some businesses were thinking ahead.Literally zoom out.
>>60258200>Bailouts Who's paying for this?
>>60258471Argentina with interest.IMF always gets paid back no country has ever defaulted on it.
Libertarians WON
>>60258286communism lost, tranny
>>60258500He's in debt to the IMF.
>libertarian victory is when you put your country in debt to the world government
>>60258247>IMFGood nite you stupid dumb niggerGood job putting your country's head in the noise. You are deaf, dumb and stupid.I hope he gets the rope
>>60258286Hopefully this, x 6 million
>>60258584Temporary measure. There's more to be much more economic growth in Argentina now.They are the next Switzerland.Screencap this.
>>60258489Exactly
>>60258625Ron Paul /b/ros, we made it.>>60258605National socialism lost. You will never be a woman.The state will never change your diaper.
>>60258355wtf why do mexicans approve of that cartel-appeasing turbo kike commie femoid????
>>60258664why not...
>>60258664They're in the cartels
I actually don't think that's accurate to say, I'm sorry, I just wanted to say it. Perhaps considering family connections it does appeal to a surprisingly large bloc of people tho.
>>60258439why are buketefags so annoying
>>60258593>commie victory is when your population is literally starving to death
Wasn't Argentina like very rich in the XXth century or something? How did they fuck it up?
>>60258768Socialists took over
>>6025824720 billion honestly does not sound like a lot
>>60258727I live here in Argentina. The economy has been crashing for 10 years and no leftist outlet ever expressed a modicum of sympathy or reported it.Milei lowered poverty from 53% when he took office to 38% now. The economy got stabilized and the average wage shot up from 300 USD to 1100 USD.Imagine defending this >>60258469Meanwhile in Venezuela they are literally starving to death for real, and no leftist gives a fuck. We have hundreds of thousands of refugees from Venezuela even our previous shit wages were an improvement to them.
>>60258793I love how not only leftists but literally everyone including the mainstream media now ignores how absolute poverty stricken shit venezuela isand they focus on argentina
>>60258247Here for the inevitable (10th) default in 7 years.
>>60258792Apparently they are getting other plans from other institutions as well, and their risk is elevated but this is frankly the most confidence anyone has had in their economy in decades and it really could grow a lot, but there is concern about the upcoming elections o algo
>>60258845It's because they have the funny chainsaw harry potter movie hair man
>>60258247What we will happen is their commodity export economy will be focused on acquiring dollars, when the commodity prices dip the debt will be harder to service, they will print more pesos to buy dollars and they will start rapidly inflating again.
>>60258905Perhaps if the government is not spending a lot of money, it won't have to print tho.
>>60258768Peronism which is like a weird local version of big government planned economy socialism. >>60258845Yeah, from what I've seen most discussions about Argentina are strawmen about people they like / don't like in their country nobody ever bothered to look up any real data on the country.Some Euros hate Milei because they hate libertarians in their country, even if a libertarian makes sense here because we needed radical reform away from literal commies banning the purchase of foreign currency or doing price controls. Maybe such radical reform is not needed in a Euro economy (Euros should be the judge of that) but here we were collapsing, it's like emerging from the Berlin Wall falling. Every country is different. We tried centrists and they moved too slowly to make free market reforms and their efforts failed and the leftists returned. We needed something more radical.
>>60258926Right -- they'll take it out of the public's ability to generate a surplus, who will be forced to turn to private bank credit because the trade surplus argentina typically generates will go to servicing foreign-currency-denominated debts.
>>60258905Milei is running a budget surplus, he is like opposite Liz Truss. She lowered taxes first, before spending. Milei did the opposite, he lowered spending first (which was very harsh at first) now he is slowly starting to lower some taxes but taking care of the surplus.Also they passed a law in Congress to stop the CB from loaning printed money to the treasury so even if he wanted to he couldn't do what his predecessors did because he already cut off that option.
>>60258247lmao
>>60258991Public surpluses are private deficits. Money's origin point is government spending. Government spends, then taxes. Okay? You need the money first before it can tax. It has to leave something left over, a deficit, so the private can generate savings (a surplus). Now you can also do this with a trade surplus, because then you're drawing down from the foreign sector -- but Argentina has foreign-currency-denominated debt, so they have prioritize a portion of that trade surplus to servicing foreign-currency-denominated debt.
>>60258200>Mileikowsky killed ArgentinaBased
>>60258355>Indian>Jew>Jew
>>60258905>>60259022retarded MMT kike
>>60259082If you have a different explanation for where money comes from and a different way for the sectors to balance, I'd be very interested in hearing it.
>>60258792it's argentina, 20B is like 30% of their government budget
>>60258950>Some Euros hate Milei because they hate libertarians in their country, even if a libertarian makes sense here because we needed radical reform away from literal commies banning the purchase of foreign currency or doing price controls. Maybe such radical reform is not needed in a Euro economy (Euros should be the judge of that) but here we were collapsing, it's like emerging from the Berlin Wall falling. Every country is different. We tried centrists and they moved too slowly to make free market reforms and their efforts failed and the leftists returned. We needed something more radical.100% thisI like what that one guy in poland is doing.
>>60259034*saved>>60258991Milei should become a dictator and take total power.>>60259104Look up austrian school critiques of MMT
>>60258247>le IMF is so evil they just lock these developing nations into predatory jewish loans and soros and blahblahblah>OMG LE HECKIN IMF PUT ARGENTINA $20B IN DEBT OH MY HECKIN SCIENCEretards
>>60259104Money comes from the fact that people needed a unit of exchange, *wealth* which is what you should be focusing on, comes only from the private sector, the government does not create wealth, just taxes it away and gives it back in the form of public services (which are rarely efficient, even if sometimes necessary).But a bloated government inevitably leads to lower wealth which is the point Argentina was at.As for the whole "debt is denominated in foreign currency", that is the case in most countries around the world, outside of EU, Japan, and America, every country has debts in foreign currency and plenty of them have done very well out of it.You seem to suggest the solution for Argentina is debt default, which is idiotic and it already failed, as long as they are running a budget surplus they can pay down the debt.>>60259226/biz/ is a neolib board, there is nothing wrong with IMF debt as long as it is used to solve a country's problems (deregulate, implement austerity, balance budgets, correct imbalances) or specific liquidity crises, and not free money to prop up a failed economic model. The problem with the IMF is that it often has been the latter.
>>60259256Money is a creature of the state. There's not much archeological evidence to support it.>the solution for Argentina is debt defaultWhere did I say that? The solution for Argentina is to diversify their economy so they aren't as impacted by commodity prices and to stop taking loans in foreign currencies.
>>60259104I don't need to educate you about basic monetary theory, whether neoclassical or Keynesian or austrian. MMT fails prima facie because it does not account for inflation or hyperinflation. It has more plausibility in the US where due to world reserve currency status the traditional inflation formula doesn't track, but we're talking about Argentina where they've had hyperinflation precisely because they've ignored the most obvious lesson of monetary economics (as MMT does), which is not to print endless amounts of money in order to pay debt and stimulate the economy if you're not the USA.
Based MileiArgentina will be one of the fastest growing nations in the next years>>60259034It's the exact opposite, niggaThe fact that the IMF is willing to lend money to Argentina again is extremely bullishRemember, Argentina defaulted like 3 times in a decade. If the IMF is trusting them again, it means they have noticed some serious positive shift in their economy and policies
>>60259339>Money is a creature of the state. There's not much archeological evidence to support it.Money is as old as trade, Mesoamericans would use cocoa beans as the unit of exchange. It sprung naturally from the need to have a unit of account and exchange, no government forced them to use cocoa beans. If you mean paper money, then yes, that is a creature of the state, but there's a reason Central Banks are independent of government (in most normal economies) so that politicians couldn't get their hands on the printing press.>The solution for Argentina is to diversify their economy so they aren't as impacted by commodity prices and to stop taking loans in foreign currencies.And you do this through FTA deals to trade with many countries and a budget surplus, isn't that the goal?
>>60259371MMT never tells you to print infinite money. MMT is not a policy prescription -- it's a description of how money actually works. Nothing about it requires reserve currency status. Look at Japan.
>>60258200>lolbertarianism needs socialist bailoutsshocking
>>60259464He's bailing out debt that was acquired by socialists, tard
>>60259464>libertarianism is when you don’t engage in free trade
>>60259676Milei is pro-free trade tho. He has unilaterally lowered some tariffs, proposed reciprocal 0% tariffs to Trump, and the Mercosur trade bloc is awaiting EU ratification for the South America-EU FTA, which the heads of state of Mercosur have already approved (Milei among them).
This is the 2nd or 3rd time an austerity president in Argentina adopted such measures and got a bailout only to get destroyed in the next elections because turns out people hate austerity and then the other guys give the middle finger to the IMF and start printing again.Time is a flat circle
>>60259712So he gave up on leaving Mercosur now?
>>60261547This analysis is wrong.Macri was elected by a narrow majority (51% vote). The economy was fucked (big budget deficit, high inflation), but he never promised austerity on the campaign or explained anything. People voted for him because he was the pro market dude and would magically fix things.Then when he did start to implement austerity, he moved veeeery slowly, while he got the country deep into debt. So in 2018 the bond markets seized up, and he had to go to the IMF, there was a run on the currency and everything went to shit.Obviously did pissed people off so they voted for the Peronists (again narrow majority 48% vote) who promised a centrist government and not repeating their mistakes. They went full left-wing and printed a shitload of money despite running the campaign as moderates and almost collapse the economy.So now 2/3rds of the electorate 66% of the vote, voted for austerity. Milei and Bullrich (from Macri's party) both promised very harsh austerity as the only way to fix things (not Macri's "we will fix the economy based on vibes" shit).There is a big consensus for what Milei is doing, and not only that, he went balls deep with austerity on the first 6 months of his government he cut more spending than Macri on his 4 years. Thus he already achieved a budget surplus which Macri never did.Also the peronists are discredited and are infighting amongst themselves.
>>60261568That was never a realistic proposal most of our industrial exports (trucks, cars, electronics, machinery) go to Brazil, without Mercosur Argentina is just beef and wheat agrarian exports and you can't have an economy based only on that.
>>60258200>>60258247Milei is a Jew who is enslaving Argentinians to the synagogue of satan banksters
>>60258617yes, some jews are alredy oy-veying because they fear a witch hunt if ((((he)))) collapses
>>60261676before the rhinoplasty
>>60258485this time is different, we can't pay and opposition said they won't pay it because this loan will end the same way it did before, even the same guy that took the first loan is now asking for a second one, peak clown world.
>>60258664Latin America is full of unironic commies. If the Mexican government lined up every single person that owned more than $100 up against a wall, the average Mexican peasant would celebrate.
>>60258247>IMF bailoutKnowing Argentina will use it to pay off their debt
>>60258387I really don't get why most of the folks in here try to make it look like they know something about politics and regulations of the international market when all they do is gamble their spare money on memecoins inside dextools and try to make themselves rich out of that for me it's like ???
>>60259022What the fuck is this retarded shit that I'm reading on /biz/ of all the places? This backwards stupid logic most be new-age marxism economics sold to intelluctual pseuds trying to save face for all the failed policies that brought poverty to the world in the previous century.
>>60258247I have never seen a country get an IMF loan and succeed afterwards
>>60262342South Korea during the 1997 Asian Financial Crisis.>>60262162Some of us have degrees in econ or are studying it.Although you are right /biz/ is shit since the captcha thing and never really recovered.I don't browse this board anymore only came back because of the tariff shit.
>>60262353I didn't know that thanks. Usually I see countries get these loans and it just sinks them into further debt. Though most of those countries were equal parts incompetent and corrupt.
>>60258200milei is doing great work>>60258793leftists dont care unless it supports a specific neoliberal elite agenda. you are mere fodder in their playbook.
>>60258247It will be hard because his plan relies on actual free trade, and that's under threat right now.
Milei will do a Bolsonaro and turn on the spending taps towards election time. hope nobody lives in Argenzuela
>>60258247we did it lolbertarian bros!!
>>60258200Why doesn't India get bailouts like Argentina and Greece do?
