Austerity takes the spotlight in Argentina's midterms

You know, all that propaganda floating around here is pretty ridiculous, trying to twist everything upside down. Like this thread: Argentina: austerity always fails But check out what went down in the elections yesterday: Milei scored a huge victory in Argentina's midterms with his 'chainsaw' austerity approach. People in Argentina have clearly voted for austerity, and I mean a lot of it. They've been dealing with a century of suffering under those neo-communist policies, thanks to Peronism, which has kept the entire population poor and reliant on state handouts for doing nothing or barely working. They totally get that avoiding austerity leads to inflation, which in Argentina has skyrocketed to one of the highest rates globally, turning what was once the richest country into a disaster. Cutting public spending, aka austerity, with lower taxes and fewer rules? It always wins. Don't let the socialists mislead you.

The normal people don't vote for ideology or an international coalition. They vote for leaders who aims to deliver practical, achievable, and immediately relevant changes in their lives. Someone who could make their daily lives better and the future of their children secure. Milei took Argentina when it was on high inflation, large debts and every leaders failing to make any changes. They were frustrated by false promises and the elected leaders failing to achieve anything. Milei promised rapid changes and even though some of his action were unconventional or affected some group of people, he indeed made some change. Argentinian know its him who could still make a change so they didn't looked for any other alternative.

BCC again with their agenda, I can hear their screams in agony in that article. But thank god for these results, the local elections gave me a scare that the whole country is turning again to the socialism that ruined it. You know what's funny, the same people who have something against austerity are the ones who are shouting every day how the US debt is unsustainable and it will bring collapse. I have literally no idea how the reasoning process works with these guys.

In other words, they vote for populists promising simple and fast answers to complex issues that actually would take years to fix. Funny how i see people from US celebrating this when Trump gives Argentina $20B bailout that sells more soybeans to china because US farmers can't. One would have thought he wanted to cut expenses and not fund his buddies. I guess it makes sense to fund countries that nazis escaped to after ww2 as plan b. The fact that OP considers only opposite viewpoint as propaganda is hilarious. Ideology of austerity wasn't ever meant to benefit any economy. It's slowing down the commerce, driving some middle class towards poverty and it rises unemployment. It only focuses to give more power to people that already had power. And end of it all, it ends up being a reason why country debt rises even more.

Yes, in fact, I believe that this is not so much a Milei's victory but a defeat of Peronism. Voter turnout has fallen, but the victory is overwhelming, contradicting all the previous polls. In my opinion, this shows that what most people want is not to return to the political system that has governed Argentina for most of the last 100 years. I chose the source precisely for that reason. The BBC is clearly anti-Milei, and they can only acknowledge the overwhelming nature of his victory. If only that were all. We have all contradicted ourselves at some point in our lives, but the level of contradiction among wokists borders on the pathological. Yes, when people voted for the Peronists, that's exactly what happened.    You don't seem to understand how to establish a business partner. Just stick with the headline. Do you expect me to take you seriously? I don't even know why I'm wasting my time with you. As is often the case with people in your campaign, you haven't even read the other thread linked in the OP. Lol.

So let me get this right - You're here on Bitcointalk - You are a Bitcoin user and a faithful believer - How do you think in a Bitcoin world, where there is no fiat spending over the budget, would work? I'm genuinely curious in a world of only Bitcoin and gold, how do you see this working? Spending the money you don't have...was this BIP-69 or BIP-666, can't remember!? The only funny thing is that people in the economics section don't understand what a currency swap is.

Not really. (Screenshot from ninjastic.space) Add to that the fact that he has a red tag and is part of the campaign with the worst reputation in terms of poster quality and we will understand many things. Don't make him think too much, lest he have a mental breakdown.

I'm surprised by the election results in Argentina. I thought that the vast majority of the population hates Milei, because the poor people suffered a decrease of their standard of living, due to the devaluation of the peso and Milei cutting government welfare programs. It seems that the people have realized that inflation is going down and the economy of Argentina is slowly recovering. There was a corruption scandal with Milei's sister, but this also didn't influence the elections. The USA would also support Argentina by signing a favorable trade deal.

Ok, i'll bite. Where is this fantasy Bitcoin world where's no fiat you are talking about? Are you talking about the idea of it replacing fiat money? Because that doesn't make any sense, as they are build on completely different game theories. BTC doesn't make sense as a currency of a country, because it lacks flexibility, and in times of crisis, lack of it can pretty much end a nation. Otherwise world would have never abandoned the gold standard. As an alternative payment option and investment it works if the price stabilizes and if investors don't see it mainly as an investment, but as a payment option. That's not likely to happen though as it's probably always going to be mainly investment.

Ok, so we're back to square 1! What the fuck are you doing then on a bitcoin-oriented forum? Cause now there are only two possibilities - You're doing it for the money, which is hilarious because it contradicts all your socialist beliefs - You're trolling, and at this point, I am going to let you on a little secret, you're really, really bad at it Well, at least Argentina and Finland are doing the right thing and ignoring voices on the internet!

Just stop watching leftist woke news and you won't be so surprised about things like this. Milei has achieved a budget surplus, which is almost unheard of in countries nowadays. He reduced inflation from 25% monthly to just 1.5% Milei’s Economic Miracle: How Argentina Slashed Inflation to 1.5% His measures decreased rents price by 40% Salaries have grown above inflation. Pay Rises Outpace Inflation for First Time in Years in Argentina Tell me how that decreases the standard of living of the poor. And then you, who get your information from woke garbage, are surprised that people vote for Milei. Well, there's nothing to be surprised about, he has simply improved the lives of Argentinians. The only ones protesting are the woke hangers-on there who want to return to the old system where everyone is extremely poor except for politicians and their cronies.

Bitcoin have made my life better for sure. Please explain in detail, how is that bad under capitalism and in eyes of whom exactly? Because as a social democrat, i don't have a clue what you are talking about. What does socialism have to do with anything i just said? And how has this got anything to do with the fact that fiat money and btc serve different purposes? Or maybe you should consider the fact that you might be misinformed about something. Also, i am sure that if you were aware of Finnish politics, they would be communism from your viewpoint. Even our right wing.

Well, socialism has a lot to do with what we are talking about here. Argentina before Milei was socialist most of the time. I hope Stompix will answer your specific question, but I would like to point out that there was a time when social democracy was OK, whereas today it has become woke garbage. Allowing free enterprise and wealth creation by the private sector without crushing it with regulations and taxes, and then undertaking redistribution, worked very well in Europe for decades, but that no longer exists. What we are seeing is an unstoppable trend toward more regulations, more taxes, and ultimately more control (not to mention specific aspects of woke culture defended today by social democrats). In any case, I appreciate your opinion, which differs from mine and stompix's. That's what debate is all about: discussing opposing views.

I don't support handouts and bailouts, but there are more factors at play here. Are you aware of the fact that if the US did not secure this deal, China would? They US just could not afford that to happen. It was better to preemptively give them money to make sure they won't become indebted to China, because that would only give them an upper hand in tariff negotiations. It's a game of 3d chess that they're playing. As for the Nazis, does the fact they lived there after the war makes the country bad and unworthy? Didn't the US recruit Nazi scientists after the war and called that Operation Paperclip? Things look different when it's "our" Nazis and not "their" Nazis.

"Woke" doesn't mean anything specific but something someone hates, so it's irrelevant talking point where you can keep moving goal posts if everything randomly hated is caused by "woke".   And everything seems to be woke... Hugs, food, internet and kittens or wanting to help someone. Only time i have seen anyone defining it was DeSantis legal team, and it was "the belief there are systemic injustices in American society and the need to address them". So, ok? Also, you can bash "bad" regulations all you want, but without regulations, transparency and accountability, there wouldn't be any change to fight corruption. Or you might want to introduce some better tools for that if you are aware of them.

Argentina voted for stability which in the end allows for profit and value in earnings to exist.  I dont blame them if they have truly had the bad economy reported.  We've had 30% inflation and electricity cuts in the country I live in and it only has the knock on effect of making the entirety of society worse off, at some point even the blunt force of democracy recognizes the worth in stable sensible options such as balancing a fiscal budget etc.   The ironic part is more the west or apparent richest countries have awful fiscal balance, too much debt and risk instability.  They may have to learn from Argentina, so Im genuinely hoping it works out for this nation regardless of left or right politics just plain maths I hope they are better off.

If you are going to start an argument with a statement, make sure it cannot be easily refuted, because then your reasoning will fall apart. The term woke has a clear origin in the US and consists of saying that the least racist countries in the world, such as the US, are racist. This was then exported to Europe and other areas, which boils down to attacking Western civilization, which has achieved the highest levels of progress and well-being in the history of humanity. It, for example, has tried to instill the idea that Western countries are sexist, pushing feminazism (which has nothing to do with original feminism) while importing millions of immigrants from cultures that view women as second-class citizens and see no problem with this. Well, when measures like Milei's are adopted, there isn't usually stability because changes occur, and in a short period of time. But compared to the mess that existed before, I'm not surprised that it can be seen as stability.

It's simple, socialism can't work with Bitcoin! The means of production are in the hands of those with capital aka asics, you don't have money you can't buy Bitcoin and people who have more Bitcoin don't pay extra fees that get redistributed to those who have nothing. Bitcoin is pure libertarian capitalism, aka what Milei promotes! Why your governing views can't work with Bitcoin is simple, just as the unwritten rules on this forum, no collateral, no loans, so the only way out of it would be as in all human history, either bankruptcy or austerity. So, as I said before, why are you preaching a thing that could not work with Bitcoin on a Bitcoin forum? Don't be, it's not nice to assume things! Also, since we are talking about things that work and don't work: Please explain Greece and why it wouldn't work in Argentina if we keep circling around this!

Who said socialism works with bitcoin? And why does socialism or any -ism have to "work" with bitcoin? I thought that bitcoin was a protocol that's supposed to be resilient against all forms of governments. You can ask pretty much from any expert what austerity policies & libertarian capitalism does do economy of a country. But hey, why would we listen to experts? This has nothing to do with how bitcoin works. It's about how countries work. You literally explain the reason how bitcoin couldn't replace fiat currencies, because "there's no fiat spending over the budget". Which means there's no safety net in times of crisis, like pandemia or war. Which is what i have been talking about. And why wouldn't i want to explain to any anarcho-capitalists, libertarians or others, that strong austerity policies are short sighted simplified attempts that appeal to mainly uneducated people. And that they create unemployment and destabilize governments, which isn't just my opinion, but opinion of all freaking experts on economics. It's "working", when there's strong enough authority that no one can question. So there's technically no one speaking against it in public. What about Greece? How did their austerity measures help them? Let's forget that Greece got bailouts, tens of billions in funding and hundreds of billions of euros in loans from other EU countries, so they could fix up their mess. Clearly that didn't help them at all.

You are mistaking economic models with forms of government. A democracy can have a planned economy or a free market one, the same for a dictatorship. Bitcoin works only in a free market! The same experts who criticized Greece and Milei! In the age of TikTok experts are a dime a dozen. You might want to check some data, actual data on how austerity worked in Greece ! Debt is down from 212% in 2020 to 157% to GDP last year. Contrary to your "experts".