@Cervaise recently posted about obtaining a bank loan to purchase an apartment. It was denied, because the income backing the loan is in dollars.
So that’s some more confirmation of your suspicions.
Yeah I’m starting to wonder if I should move my savings to Euros.
If you make it 50:50 for a start you can call it diversification. Seldom harm in diversification. Then, depending on developments, feelings, and events you can always overweight €uros.
As an American, most of my savings is in dollars, but i recently increased my overseas holdings.
You will now the dollar is dead the day Argentines do not want it.
This will surely have a calming effect on the markets today…
Also he’s talking about buying Argentine beef?
On one side, yay! exports!
On the other, yesterday to celebrate Mother’s day (and my mom’s birthday) we spent less than 100 dollars (96,000 pesos = 65.47 dollars) to buy enough high quality beef for 11 people, I hope that wasn’t our last asado.
Argentina’s midterm election hands landslide win to Milei’s libertarian overhaul
Is it fair to blame this on U.S. election interference? Or is it all internal to Argentina/lower inflation?
I assume the option of a conditional pro-Milei bailout for the currency issue is a huge factor, yes.
Excuse me, the dent in the wall isn’t going to get deeper by itself you know.
-sets aside some Tylenol and a shot of rum for later-
Democracy is too good for the masses. 
Well this is a disaster, if the election in November '23 was the beginning of the death of the country I love, this one is the seal on it.
I don’t understand what happened, and frankly I’m too sad to attempt a diagnostic now, I will probably stop posting for a while, I’m sorry.
I find that I can take a little “misery loves company” solace.
The world is going through a change. I can only speculate why, and I have no idea how it ends. We might get lucky and come through this tumult into a more egalitarian world, or a new aristocracy built on the fortunes of the oligarchs.
But you (we) are not alone.
Take a break and a breather to care for yourself right now.
Too many of us around the world are, have been, or dread soon to be facing similar.
If you enjoy the feeling of your brain leaking out from your ears from stupidity, you’ll love this latest article by David Frum!
I’m sorry, too, and quite a lot of us here think of you whenever we see Argentina in the headlines. Take a break, take care of yourself.
Yeah, @Frodo - take all the time you need to figure out your immediate and future plans without worrying about talking with us. These are issues that aren’t unique to any of our nations, but we all to prepare within the framework we have to work with.
Thanks for posting here as much as you have.
And if you need to hide under the bed for a while, do that. Wishing you luck when you come back out; whether or not it’s here.
A few months later I believe I’ve understood what happened.
The Peronist opposition has managed to get itself labeled in the minds of too many people as a “Instability and inflation party” .
This happened before, it used to be that the 2 main parties were the Peronists and the “Union civica radical” (UCR), but in the 80s the UCR governed during an extended period of really nasty hyperinflation, got labeled in the minds of voters as a “the inflation party” and that was it, losing more and more voters with each election to become what is now a minor party.
The same thing is happening to the Peronists it seems, with rather less justification IMHO.
Now, that label was probably not going to hurt so much in the legislative elections because Milei’s party was showing a lot of symptoms of instability itself, with an out of control dollar driving inflation and all kind of nasty things.
But then Donald Trump intervened… and voters saw the election as a choice between a sort of U.S. tutelated stability and terra incognita on the hands of the opposition.
The median voter being more interested on stability than on fancy things like human rights, the poor, democracy or sovereignty (and with no guarantee that the Peronists were going to deliver on the previous items) the government won the election.
Now, take this diagnosis with a grain of salt, I’m not an unbiased observer, may be the diagnosis should be a simple “people are better now than during the previous Peronist government and voted accordingly”, doesn’t seem to be the case to me but you have to account for bias.
Now we are dealing with the results of the election, the hard won wins on health care and education we were celebrating in October are lost or mostly lost.
Education is being particularly hit with funding reaching the lowest level since 2008, at around 0.8 percent of the GDP, (it was 6% in 2015, but then the right got in power…)
All in all things are not good, but it’s not clear if this is the new normal or if the inherent weaknesses of the economic model that prompted the U.S. bailout will manifest again.
Oh, I forgot one important thing: we have, currently, a really good labor law (sadly not enforced for about half of the working population), the Senate has already approved a law that absolutely guts it, in February/March it’s going to hit the chamber of representatives…
So far the response has been pretty muted, we used to burn shit when they tried things like this.
It remains to be seen if the current climate of demoralization among the forces opposed to the destruction of the country we had is permanent or if we can rally against this new outrage.
Javier Milei has received the opportunity to present his views on economy and politics to a wider audience as a writer by invitation in the Economist together with Federico Sturzenegger, Argentina’s minister of deregulation and state transformation. I think this is worth reading, I hope the gift link works, even if the preview does not:
https://www.economist.com/by-invitation/2026/01/15/javier-milei-rein-in-regulators-not-big-companies?giftId=YzNiYzRiM2UtNzNkNy00MWMzLWFlNjQtYzE2MGY4ZmQ0YmJh&utm_campaign=gifted_article
My impression? ChatGPT could have done it better. It brown-noses the temper tanTrump in the White House and scalds European policies and politicians, but does not convince me (that would be an uphill struggle for this moron anyway), tries unsuccessfully to be funny. The closing bit reads:
Free markets—the core of the deregulation agenda—made the world rich, massively reducing poverty in just two centuries. It is time to double down on our trust in capitalism. Let us get the government out of the way and give people back their freedom, stolen from them by politicians and regulators. ¡Viva la libertad, carajo!
In the spirit of Know Your Enemy (KYE), have an instructive read!
Ah Federico Sturzenegger, whenever there’s an economic meltdown you have him there.
