Nearly dead economy

Argentina’s economical history is one of turmoil, bank runs, bankruptcies and sky high inflation.
And despite enormous efforts things don’t seem to turn around. Today Argentina’s inflation is hovering around 140 % per year. 40 % of the people live in extreme poverty and some products are not even available in shops anymore.

The economy still has a heartbeat but it’s a very slow one.

Javier Milei

One presidential candidate is standing out of all of the others, and that is Javier Milei. He has radical plans for the economy, he wants to abolish the Argentina central bank and replace the Peso with US Dollars. He aloso wants to liberalise gun laws a delete abortion from the law books They call him The Argentinian Donald Trump.

Extreme criticism

The plans of Mr. Milei are frowned upon by economists. They say it is a very bad idea to erase the Argentinian Peso in favour of the USD. It will create even more inflation, and the normal people will pay the price, as the central bank won’t be able to raise interest rates anymore and Quantitative easing will not be a possibility when the USD is run by another central bank.

It could be happening any day now. And it’s a very blunt move. This week the election goes through.

Very curious…

Sincerely,

Pele23