Honestly if you want to understand why Argentina just elected what appears to be a total lunatic to the Presidency is that he is a total lunatic who hates and wants to get rid of their central bank
It would also behoove people to note that moving away from the dollar also coincided with the Argentine government revaluing pensions, people's personal savings, and all sorts of other financial chicanery. I'm not sure I totally agree, but its -understandable-
He wrote a piece about it in the Economist and it's probably his most reasonable policy view. The bank has no independence and the state constantly resorts to printing money to meet debts, therefore you must remove the temptation
www.economist.com/by-invitatio...
Its not like this period of... I guess we're going to use the word 'solvency' but that seems woefully misleading, has been all that great. Least insane view is about right.
Inflation's down to only 140% YoY, what do you mean, that's just aces!
Man is a crackpot but I do not at all envy him the job of trying to unfuck the donkey that is the Argentine economy.
We visited this past January and people seemed just so exasperated with the financial situation. We paid in USD a lot because folks preferred it, especially in BA.
Yeah I think Argentine disappointment in their monetary and economic policy seems grounded. Like, it is based upon facts which are basic and simple to discern, like +94.80% YoY inflation, that sort of thing
