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What amazes me about Latin American countries is how they can swing from far left to far right in leadership. Here in the U.S. we typically just cycle from slightly left of center to slightly right of center. Every now and then we get a Trump or Regan figure who is more in-between slight and far right.
In the US they basically make sure the people don't really have an option to vote into power a truly left wing government. Something like what happen in Venezuela will never happen in the USA.
In Latin America people have slightly more feedom to choose that, although it doesn't always ends pretty. Latin America also has something that the US doesn't, direct vote. If most people vote for B, then B it is. In the US the decision is really the Electoral College. Unlike in Latin America, in the US it's very possible for B to win most of the votes but A gets most of the Electoral College votes, so A it is even though most voters wanted B.
I think it depends on the country. It's safe to say that more Venezuelans feel sorry for electing Hugo Chávez in the 1990's (or was it in the 2000's?) and he was from the far left. Well, if he promised change, he gave Venezuela what he promised.
Be careful what you wish for. Sometimes what isn't said is the most important.
Of course American economic boycotts did little to assist their economy.
I see in the news that the new President was visiting the U.S., and as you'd expect, with his hand out, begging. Argentina has defaulted on their debt 9X over the years, and yet, a new President comes on board and investors are all lined up with hope that there will be no more defaults.
I do hand it to the South Americans, they know how to pull off a successful protest with their road blockades, unlike cowardly American protesters.
I was in Argentina in 2009, I believe, and this time the farmers were angry and they were blocking roads around the country, I got caught up in one, had to wait 4 hours to resume my bus trip. At the end of my trip, looking forward to a farewell juicy steak at a posh restaurants: Sorry, we have no beef. Ok, then Pork. Nope, no pork either. Lots of empty shelves in the grocery stores. Like I say, if only American protests were as successful as the South Americans.
Millei cannot dollarize the Argentine economy because the problem is an absence of dollars. Argentine currency is nearly worthless with a dollar being worth about 900 pesos. I see a populace that was desperate. Peronism has completely failed and Argentina's basic problem is way too much government spending on subsidies that keep prices like internet services and utilities extremely low. Medicine and higher education are subsidized by the state as well.
Cutting these subsidies is going to be very painful and may not be possible in a country with democratic elections.
What is tragic is that Argentina has many pluses. Its a large country with many natural resources. It *ought* to be in fairly decent shape without major economic problems.
Millei cannot dollarize the Argentine economy because the problem is an absence of dollars. Argentine currency is nearly worthless with a dollar being worth about 900 pesos. I see a populace that was desperate. Peronism has completely failed and Argentina's basic problem is way too much government spending on subsidies that keep prices like internet services and utilities extremely low. Medicine and higher education are subsidized by the state as well.
Cutting these subsidies is going to be very painful and may not be possible in a country with democratic elections.
What is tragic is that Argentina has many pluses. Its a large country with many natural resources. It *ought* to be in fairly decent shape without major economic problems.
I've been following the story through sources on Youtube, because I can't find a media source that really tells me anything.
Like you, I don't see how it would work, and some sources say he just won't be able to do it.
But they might be wrong. Through exchanges of some sort, he may come up with the dollars he needs to transform Argentina into a dollar based economy. Especially if it is done slowly.
*Ecuador did it. It took a while but by 2000 they had scrapped their old currency and everyone is now using dollars.
* Panama uses their currency as a one-for-one swap for the dollar, so whatever you have will work there.
* El Salvador uses the dollar, too, although they have now switched, in theory, to bitcoin. Dunno how that's going to work out!
The biggest legal problem is probably going to be the Argentine central bank. By himself, the president may not be able to close it.
‘Prison or bullet’: new Argentina government promises harsh response to protest
President Javier Milei and his allies are preparing new security guidelines in anticipation of protests against currency devaluation
Human rights activists in Argentina have expressed consternation over new security guidelines to crack down on an anticipated wave of protests after the incoming government of libertarian president Javier Milei devalued the country’s currency by more than 50%.
Protesting individuals and organizations will be identified with “video, digital or manual means” – and then billed for the cost of sending security forces to police their demonstrations, said Milei’s security minister, Patricia Bullrich, as she announced the new protocol on Thursday.
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