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@ Miguel Afonso Caetano
2025-03-09 13:23:35
"The majority of people in Argentina (53%) are now living in poverty. Their purchasing power and standard of living have been crushed by Milei’s brutal austerity.
Nearly three-quarters (72%) of Argentines said in June 2024, after half a year of Milei’s rule, that they were worse off economically.
While Argentina’s real economy is in crisis, the stock market has boomed, enriching local oligarchs and rich foreign investors.
Milei’s government has also promoted a notorious carry trade scheme known as the “bicicleta financiera” (financial bicycle) that has guaranteed massive returns for the few Argentines wealthy enough to invest.
Aside from finance, the few other sectors of the economy that are growing under Milei are agriculture and mining — extractive industries that rely on exports and benefit from a falling currency and weak domestic demand.
In short, Argentina is being turned into an impoverished, deindustrialized resource colony for foreign corporations and oligarchs."
https://geopoliticaleconomy.com/2025/02/28/javier-milei-argentina-economy-resource-colony/
#Argentina #Milei #Privatopia #AnarchoCapitalism #Libertarianism