2023-12-29 03:30:00
What is happening in Argentina motivates a lot of interest in the financial centers of the rest of the world. In New York, London, Frankfurt, Tokyo and Beijing, people who handle colossal amounts of money are wondering yes, finally, the country is regarding to accept the defeat of its long rebellion once morest capitalist logic to begin to take advantage of its many material and cultural advantages. Despite everything that has happened since the 1930s, the idea that Argentina is a “rich country” and that mass poverty is an aberration has not completely disappeared either here or in other latitudes.
The financiers who study reports day following day in search of new opportunities to make money, were pleasantly surprised by the electoral victory of an extravagant “crazy” who in his campaign promised people an unusual degree of austerity, hence the famous chainsaw, but they are not entirely convinced that it is capable of surviving the attacks of those committed to the traditional order that has led Argentina to its current sad situation.
There is a lot at stake. If the certainty spreads that Argentina is back, there will be an abundance of investors who will want to participate in the bonanza that they will glimpse in a country far from the conflicts that are causing so many problems in the Muslim world, Europe and East Asia.
Milei himself does not hide his hope that the multibillionaire of South African origin, Elon Musk, will be the first to offer his support in the adventure he has undertaken. He might also benefit if Donald Trump defeats Joe Biden or another Democrat in the North American presidential elections in November.
Instead, If Milei’s government fails, as might well happen, the country would be left in the hands of politicians reluctant to take the strong measures necessary to stop inflation. and ensure that private companies can function fully.
Even if those who sympathize with the Kirchnerist “narrative” who would try to subordinate absolutely everything to their own interests and, as far as possible, to those of their impoverished clientele, do not return to power, the future of the country will be bleak. Without a reliable currency, without reserves, without credit other than those grudgingly provided by the IMF and, perhaps, some charitable organizations, He would have to resign himself to a miserable standard of living.
Milei’s rhetoric often sounds extremist, but, to the relief of many and the surprise of some, what the government he heads is trying to do is far from it.
Judging by the measures announced, he just wants the national economy to become more like those of the developed world in which an inflation rate of five percent annually causes anxiety and, outside of some progressive circles, it is taken for granted that the well-being of the whole depends on the strength of the private sector.
Although certain of Milei’s campaign proposals were so eccentric that they baffled even his most enthusiastic supporters, Those included in the multifaceted decree with which he hopes to free the economy from the thick web of regulations that is suffocating it are not.
It is striking that, with the exception of the Kirchnerists, Trotskyists and defenders of the alleged rights acquired by union members and picket leaders, The majority of political leaders have agreed that it is necessary to eliminate the fiscal deficit, drastically reduce monetary emission, and build a bonfire of bureaucratic regulations. outdated that corrupt characters take advantage of and throw out thousands of the gnocchi that are entrenched in so many hypertrophied state departments.
Even so, many who say they approve “the spirit” of the changes promoted by the Milei government insist that They are opposed to doing so through a decree, the mechanism that other governments have used, such as that of Raúl Alfonsín with his “Austral Plan.” in which he replaced the peso with the currency thus named, to introduce equally profound changes.
It would seem that, Unlike most of the electorate, those who think this way do not believe that the country is in an emergency and therefore there is no need to hurry.
They are wrong, of course, since the risk that the country will soon suffer a hyperinflationary cataclysm remains very real. While it is legitimate to question some of the reforms proposed by libertarians, preventing them from carrying out the adjustment they have initiated would mean allowing the financial markets, which, of course, are not usually moved by humanitarian sentiments, to take care of the task.
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