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[–] 32 points 1 year ago (19 children)

I'm not keeping up with Argentinia, how are things there?

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  • [–] 50 points 1 year ago (7 children)
  • [–] 21 points 1 year ago (4 children)

    damn, what happened right before 2024?

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  • [–] 19 points 1 year ago*

    Important context to that graph is the fact you're showing the official exchange rate, which was 1/3rd the street rate at the time. The government rate was fixed by the government, while the street rate was determined by a free-ish market (in the economic sense, it was an illegal market)

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  • [–] 14 points 1 year ago* (last edited 1 year ago)

    Especially bad given 2025 has been the worst year for the USD in decades. Admittedly only 10-12% decline for USD

    Edit: I've been reading more about the Argentinian economy today. The exchange rate is very misleading. Milei has done a terrible job, but the important context to the exchange rate is that it was artificially deflated by the government for a long time. I posted a better chart in another comment

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  • [–] 42 points 1 year ago (9 children)

    Economic collapse, about to take a lifeline from the US

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  • [–] 9 points 1 year ago

    Not from US but the World Bank. He is struggling with corruption accusations while trying to make his reforms stick and attract foreign investment. He would probably go for a line from US for dolarization but that's probably the hughest loan.

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  • [–] 7 points 1 year ago (4 children)

    Is Milei accusing outside forces of crashing their economy on purpose? Another chance for socialists to find common ground with libertarians, who I am told were originally socialists themselves before being co-opted by the far right.

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  • [–] 10 points 1 year ago (3 children)

    Libertarians are the complete opposite of socialists, at least on economics.

    If anything, he blames the left for everything wrong with his failing regime.

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  • [–] 1 point 1 year ago* (2 children)

    Originally though, libertarians were on the left, the movement changed sometime in the mid 1900s to focus on property rights.

    Although libertarianism originated as a form of anarchist or left-wing politics,[29] since the development in the mid-20th century of modern libertarianism in the United States caused it to be commonly associated with right-wing politics

    https://en.m.wikipedia.org/wiki/Libertarianism

    Edit: I first heard this from the debate between Vaush and Charlie Kirk that Tim Pool moderated, which was pretty interesting and didn't make Kirk look particularly skilled at debating when he isn't debating teens in front of a jeering audience. Worth a listen if you have 2.5 hours of chores to do it something:

    https://www.youtube.com/live/YL995iGCGEU

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  • [–] 8 points 1 year ago (1 child)

    Libertarianism didn't change into it's current form, the term was simply co-opted by the right. It used to mean anarchism.

    Which is another term these people tried to claim by calling themselves "anarcho-capitalists" as if such a thing made any sense.

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  • [–] 0 points 1 year ago* (last edited 1 year ago)

    Wrong, but it doesn't really matter, what matters is dorks like Milei have abandoned everything that makes actual libertarianism libertarian in favor of sucking off billionaires and cryptofascists and they're not coming back from it.

    Vaguely aware "libertarians" that don't actually know anything and think socialism is when the government does stuff can be allies, Argentina's government can not.

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  • [–] 1 point 1 year ago (1 child)

    It's important to note this was true before Milei's election and Milei has surprisingly improved the economy a lot from where it was.

    He dialed back a lot of his insane libertarian talk and started listening to his advisors quite a bit more post election.

    Unfortunately the people of Argentina are still going to be struggling as the previous administrations have dug them into a very deep pit and the only way out is hardship by the poor while the rich who ran the country into the ground are fine.

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