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Joined 11 months ago
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Cake day: August 3rd, 2023

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  • Confusing thing #1 was actually a smart move.

    Reform party, who has been a bunch of useful idiots and have been diluting the Tory vote significantly have not got enough members in place to stand in every location as this will be their first general election and they are a new party.

    The SNP has only just picked a new leader after the previous one stepped down and they have fallen out of favour in recent times.

    Labour (main competition) was not expecting anything until November time as the running theory is that the Tories would wait for a bit to see if something would “come up” and rescue their awful polling (as per your suggestion). So even they were caught off guard and now have to scramble to organise everything. This shit isn’t easy, even for established parties.

    Hell, even the Tories were caught off guard by their leader doing this.

    Sunak has played an interesting card here. I doubt it will make any difference but at least he is being somewhat clever with the surprise timing of this.

















  • So do you agree with the idea that Milei’s austerity measures will work in the long run?

    Probably not. The politics won’t allow for it: everyone’s thinking is short term and nobody cares about 10 years down the line. He will be blocked and sabotaged and removed before this gets to play out. Then the money printer will go brrrrrrrrrrrr

    If it’s allowed to stick, then yes, it should work in the long term, with some short to medium term pain. It’s not impossible but it seems unlikely to work out that way. Maybe enough Argentinans with a long memory and basic math skills will allow it to happen. But don’t count on it.

    Similar to how an addict has to get off the drugs: hurts in the short term something fierce, then it gets better over time. Except here the drug is free money. Of course, many don’t make it.

    If you do, is there historical precedent to guide that belief?

    Every fiat currency has eventually failed. Going right back the Romans and probably before that. When the greedy idiots in charge learn they can print money seemingly without consequence, then they will print.


  • sugartits@lemmy.worldtoWorld News@lemmy.worldInflation Hits 30-Year High In Argentina
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    5 months ago

    They keep doing the same thing again and again without fixing anything.

    Imagine you earn $5k a month, but you spend $10k a month. You will eventually run out of credit and will go into default then bankruptcy.

    This is what Argentina is doing.

    It’s also what America is doing, but so far she is getting away with it, mostly because she can just keep printing as many dollars as she wants as it’s the reserve currency and therefore easy to inflate away the debt.

    And remember, every bit of inflation is spending power out of your pocket. Remember what $100 bought you ten years ago?

    Keynesian economists think this is fine and you can just going like this forever (running a country isn’t the same as running a household, duh!). Those people are idiots and apparently don’t understand basic math, but unfortunately they are running the show right now.

    Eventually the good times will stop. The results will be catastrophic when this happens. People will die and more wars will break out. Even first world countries will not be immune.

    Only question is when. For both Argentina and America and everyone else.