FuckyWucky [none/use name]

Pro-stealing art without attribution

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Joined 2 years ago
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Cake day: March 21st, 2023

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  • And on top of that the Government is limiting fiscal deficit, no public sector to take on the foreign sector slump. Neoliberalism is a disease.

    In China meanwhile, when a recession occurs in the west the government increases domestic spending to lessen the impact. India should learn a thing or two from its neighbor.

    Yet, even in those trade negotiations, India has been relatively less liberal than in the era predating Modi — angling for more state control over sundry policy issues and seeking to limit the exposure of many of its sectors to foreign competition. If India wants to attract foreign investment, it might have to change tack.

    They are complaining that there are too many regulations lmao.

    History has shown that export promotion policies in absence of heavy state intervention doesn’t work.


  • Milei also talked about starting a dollarization process with the money provided by the IMF debt. However, the IMF itself has told the government, in private, that it does not want to endorse a dollarization of the Argentinian economy.

    They’ll need like atleast $20-30b just to replace Pesos in circulation not to mention for import/exports.

    of a credit pool totaling $15 billion to accelerate the process of elimination of exchange controls and currency competition.

    Looks like they want the loan so the rich can finance their capital flight.

    He also claimed that the country is “going through the hardest month” and warned that this situation will extend “to the first days of April.”

    Yea just like Elon’s covid prediction





  • That’s not how money works. In fact Milei “achieved” first fiscal surplus since 2012 despite inflation of over 200%.

    I would suggest reading “J is for Junk Economics” by Michael Hudson.

    Also see

    Historically, the key aspect of the deuda is that it is based on a foreign currency, the world trade currency controlled by the ruling empire. It was once the British pound. Since 1944 it has largely been the US dollar.

    The United States can “print” dollars (and the Federal Reserve does so regularly), but Argentina cannot. The same is true of other countries in the Global South with large external debts denominated in foreign currencies.

    There are only two ways for these nations to get dollars: exporting and borrowing.