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peppertree

(22,850 posts)
2. Argentines are always looking for "signs" - and they've certainly found one in that
Wed Dec 20, 2023, 10:38 PM
Dec 2023

All three, seem to spell misery - and each, more than the previous one.

But seriously - there's no doubt in my mind Milei's trying to force the dollarization of Argentina by way of a depression.

The biggest obstacle to that pipe dream of his, has always been not so much political - but the obvious fact that Argentina has 40 trillion pesos in deposits, plus 6 trillion in cash.

There is no way in hell he can find the dollars needed to compensate everyone for all that - unless (he believes) he can force businesses and families to burn through all those pesos themselves.

And the only way to accomplish that, is through a hyperinflation/depression.

I doubt he'll last long enough to impose his dollarization delusion - but one thing's certain: this mega-crisis he's inflicting on them, will take years to recover from.

Something Argentines are used to by now, at least.

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