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Giuliano Giacaglia
@giu
Decline is a choice. That’s true in Argentina as well as in America! “Apparently it took Milei just 9 and a half weeks to balance a budget that was projected at 5% of GDP under the previous government. In US terms, he turned a 1.2 trillion dollar annual deficit into a 400 billion surplus. In 9 and a half weeks.”
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m00npapi🎩q/dau
@m00npapi.eth
1. It’s zerohedge (lol) 2. He defaulted on most of the debt, they’re starting the counter after that and then calling it a surplus 3. Argentinas poverty rate is skyrocketing (57%) - this headline could also read “budget balanced after half of population starves”
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Edgar Allan Poser
@edgarallanposer
The large poverty was already achieved by the previous governments though.
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m00npapi🎩q/dau
@m00npapi.eth
57% is a 20 year high on this stat
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Edgar Allan Poser
@edgarallanposer
Caused by inflation. Which the previous government can largely be credited to.
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m00npapi🎩q/dau
@m00npapi.eth
So then would u agree that it’s difficult to draw a line with what the previous govt and new govt can be credited with My initial point was in response to an article celebrating/framing Milei success
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Edgar Allan Poser
@edgarallanposer
I agree that it is too early to say if what he is doing is a success. But I think he is taking a lot of promising steps in the right direction. The old pattern of overspending and defaulting on debt is equivalent to peeing in your pants to stay warm, problem just gets bigger and bigger.
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Edgar Allan Poser
@edgarallanposer
Greece was in a similar dire situation 10 years ago. But now is flourishing after taking the austerity pill. Maybe well see the same in 5-10 years for Argentina. https://www.nytimes.com/2023/09/25/business/greece-economy-eurozone.html#:~:text=Today%2C%20it%20is%20one%20of,door%20for%20large%20foreign%20investors.
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