this post was submitted on 27 Dec 2023
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[–] TheDoozer@lemmy.world 115 points 10 months ago (3 children)

From everything I've heard about the election in Argentina, it was the meeting of "Anything is better than this" and "it can always get worse." The former won, and proved the latter correct.

[–] MarcoPOLO@sh.itjust.works 14 points 10 months ago (2 children)

Argentina needs shock therapy to realize milei is a dumbass

[–] loutr@sh.itjust.works 9 points 10 months ago (1 children)

That's what I thought about the US and Trump, yet here we are...

[–] EnderMB@lemmy.world 3 points 10 months ago

We had the same in the UK with Brexit and Boris. We assumed that because everything is shit, backing people looking to do drastic changes that experts agreed was horrific was worth it. It wasn't, and now people are even poorer...

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[–] JustMy2c@lemm.ee 7 points 10 months ago

No, the current policies are just getting reality and practice closer together.

IRL their money was ALREADY devalued soooooo much, he didn't do anything to change that, just adjusted it to reality.

Subsidies on imported oil is CRAZY for a bankrupt country. YOU GUYS HAVE NOT UNDERSTOOD WHAT IT'S LIKE TO HAVE DECADES OF 100% OR MORE INFLATION PER YEAR.

[–] Maruki_Hurakami@lemm.ee 2 points 10 months ago

Perfect summary

[–] RedditWanderer@lemmy.world 99 points 10 months ago (2 children)

Milei — who has been described as an anarchocapitalist — set out to reduce the government’s involvement and oversight in many aspects of Argentina’s economy, including announcing that he would privatize many state-owned companies, would decrease labor protections and remove regulations that limit the amount of agricultural and productive land that can be owned by foreign companies.

Argentina going full GOP

[–] test113@lemmy.world 38 points 10 months ago (1 children)

RIP Argentina. I don't know the situation that led to this, but man, that sounds real, real bad for the average Argentine people.

[–] DeadHorseX@lemmy.world 22 points 10 months ago (1 children)

Here's one bit of context. Under the other candidate, the one this guy Milei ran against, who was the economic minister of the previous government, in September inflation reached 124%.

In case you were wondering why Milei won.

You also need to know the bigger history of Argentina's last century of economic decline.

Argentina is taught as a case study in undergraduate economics courses in 'how not to manage an economy'.

The Economist have a good video on the current crisis (Why is Argentina’s economy such a mess? ) and this one about the broader trend since the 1900s/10s.

[–] test113@lemmy.world 4 points 10 months ago (2 children)

Thank you for the information sir!

Holy yes, that's a whole lot to unpack here. I understand the situation a bit better now. What a shitty choice for an election xd

On the plus side, I understand the Argentinean memes now that pop up then and there—their game is on point. (South American/Latin American meme culture, in general, is on top of things and much more represented among all age groups.) Kudos to them, still keeping humor alive despite the situation.

[–] DeadHorseX@lemmy.world 3 points 10 months ago

Yeah it's a nasty choice. I legit think it was: guy who already screwed the economy (100% chance of things getting worse), guy who's madder than a box of badgers but wants to try something different (99.9% chance of things getting worse), so let's hope for that 0.01%.

[–] OhmsLawn@lemmy.world 2 points 10 months ago

To amplify,

Economics Explained

Patrick Boyle

I've been tangentially following Argentina for a couple of decades, lived there for a few months in 05. I started out really passionate about the situation there. These days , all I can do is shake my head.

[–] redcalcium@lemmy.institute 13 points 10 months ago

Argentinian should just bear it for a bit until multinational corporations swoop in and buy various assets dirt-cheap. Imagine all the future profits! /s

[–] qevlarr@lemmy.world 39 points 10 months ago

Fuck around and find out. I'm so sorry for everyone who was duped by libertarians pretending they will do anything for regular people and not just the wealthy shareholders, everyone who was held back by economic sanctions in a war against 'muh socialism', and all those who saw the obvious coming but were dragged into it by the other rubes. This is going to suck. I hope the protests will work

[–] Dio@lemy.lol 35 points 10 months ago (1 children)
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[–] Maggoty@lemmy.world 31 points 10 months ago (1 children)

Oh joy. Skyrocketing rent combined with plummeting wages.

This isn't going to destroy their economy at all...

[–] Fades@lemmy.world 29 points 10 months ago* (last edited 10 months ago)

That’s a right wing populist figure for you.

[–] intelshill@lemmy.ca 6 points 10 months ago (1 children)

Can this guy step down yet?

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[–] JustMy2c@lemm.ee 3 points 10 months ago

Protests of FREE LOADING PROFITEERS, yeah.

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