[eyeamok]

inflation at 143% and net central bank reserves estimated at negative $10 billion.

The joys of central banking using a pure fiat currency. Coming soon to a Country near you.

[Othniel77]

Hope he has a good plan because it is very difficult to make cuts and hold popular support. Hope he’s taken notes from Estonia’s Mart Laar on how to do it. Getting the people off of the government is like trying to get someone off drugs. If you can survive the withdrawal period you’re going to come out healthy.

[SaveFerris]

[is battling against inflation at 143%]

What? They're doing Bidenomics?

For any liberal / Democrat acquaintances:

[ClearCase_guy]

I hope he throws away the rulebook and approaches his national economy in a whole new way. Argentina has been a prosperous country. They can produce plenty of goods. I say that out-dated ideas about political economy are the only thing holding them back.

[Oldeconomybuyer]

There’s plenty of money in Argentina. Just hire more IRS agents.

[FLT-bird]

Its a shame to see what socialism has done to Argentina. Few realize that in the early 20th century, this country was one of the top 10 economies in the world. Up to the 1950s they were at least as wealthy on average as Europeans. Its a good sized country with plenty of natural resources. They shouldn’t be poor. Yet they are now. Their economy is in a complete shambles and has been for years. Only 11 million out of 47 million work. If you exclude the public sector which is paid from taxes taken from the productive, only 7 million out of 47 million work. Government regulations and taxes have driven the cost of employment so high, that many rationally calculated they would be better off living on the public dole.

Withdrawing the Heroine needle of Socialism is going to be rough as hell on them for a while but things have gotten to the point that there is no choice. 40% already live in poverty.

[Worldtraveler once upon a time]

--- ""There's no money. There's no money," "

As true for us as for Argentina. The Western world is being operated on imaginary money, i.e. massive debt.

Debt Clock

Federal Budget Deficit Grew to $2 Trillion in FY 2023 Tax Foundation, 12 October 2023

U.S. Credit Rating Changed From ‘Stable’ To ‘Negative’ As National Debt Balloons Daily Wire, 11 November 2023

[PGalt]

Post & thread BUMP!

[Pete Dovgan]

Wow!

Argentina will suffer immediate pain.....but then it will have decades of prosperity. Finally somebody who will actually suffer some political capital to ‘save’ his people and nation.