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peppertree

(22,850 posts)
1. Argentina's probably next
Sat Jul 20, 2024, 02:40 PM
Jul 2024

Trump, in 2018, forced the IMF to give his idiot pal Macri a $45 billion bailout (10 times Argentina's allotment) - in a hare-brained attempt to rescue Macri from certain electoral defeat.

It (of course) didn't work.

Macri allowed the well-connected to used the proceeds to dollarize and offshore their assets - leaving Argentines an utterly unpayable IMF debt (which is how Argentina was derailed in 1981 to begin with). And amid a 2019 "Macrisis," he lost anyway.

What's more: they're now subject to the IMF's economy-busting "austerity" demands - including a shock devaluation in August 2023 obviously timed to bring a far-right authoritarian loon (Milei) into power.

And now, the severely depressed country is one currency run away from utter collapse - and riots.

It's the biggest Trump scandal no one's heard of.

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