runningbitcorn on Nostr: Dispatch from Argentina: The outgoing populist administration that has completely ...

Dispatch from Argentina:

The outgoing populist administration that has completely bankrupted the country with degenerate levels of spending is focusing on fucking over the incoming Milei administration.

Rather than focusing on the plight of the average Argentinian, who is now earning approx. $200/month, the Central Bank of Argentina is selling a hyper-financialized product comprised of insurance against future hyperinflation. The math that these products are based upon is a a flat out lie, but there are legal bases for customers to have a claim in the future.

Year-over-year inflation of the peso is now at 150%, but thanks to these horseshit products being offered by the BCRA the value of the peso has actually gained ground on USD in the past week, currently hovering around 940:1.

The end game here is to create the financial version of a booby trap for the incoming administration rather than acknowledge that the insane amounts of debt spending has delved over 50% of the Argentinian people into destitute poverty. The populist bureaucrats are showing their true colors.

Yet as I've previously mentioned, the Argentinian mindset is infected with socialist ideals. The poorly-educated masses feel that handouts from the government will be their saving grace, when in all reality unprecedented levels of austerity are the only way to right this ship.

Regardless of how well Milei digs us out of this Socialist Fever Nightmare, 2024 will inevitably be the culmination of years of corruption, selfishness, and downright evil from the outgoing caste of bureaucrats. The key is to continue to inform people that this is the beginning of a new era of fiscal responsibility in the midst of widespread suffering. The deck is stacked against the country but we will overcome.