news

The situation is very bad, the peronist socdems decided to put up a horrible candidate against an idiot who had the support of the media and conservatives/neoliberals. There was no way the left was going to win since a lot of people didn't even bother to vote because they knew the socdems wouldn't solve the crisis.

I don't know if anyone has already posted here, but recently Milei also froze all the money that was going to be given to universities. The students and teachers decided to start protesting, as usual in Latin America. Some pro-Milei idiots on Twitter decided to go over there and fight the protesters, only to get beaten up by them live and cry about how mean and aggressive leftists are.

That’s not a materialist understanding of how US imperialism works on the Global South.

Quoting Michael Hudson once again:

Among the BRICS+ countries, Argentina is a case in point. Its foreign dollar debt has grown largely by IMF sponsorship. The IMF’s main political function in US foreign policy has been to enable pro-American client oligarchies to move their money out of countries whenever there is a chance of a left-wing or simply democratic reformer being elected. Convert their Argentinean currency into dollars lowers the peso’s exchange rate. Without IMF intervention, that would mean that as the exchange rate falls, the wealthy classes engaging in capital flight receive fewer and fewer dollars. To support the currency – and hence, the hard-currency dollars that capital-flight actors receive – the IMF lends the right-wing government dollars to buy up the excess pesos that the client oligarchy is selling off. That enables Argentineans to move their money out of the country to obtain a much higher amount of US dollars than they would if the IMF were not lending money to the right-wing puppet government.

When the new reform government comes in, it finds itself loaded down with a huge foreign debt owed to the IMF. This debt has not been taken on in a way that helped Argentina develop its economy and earn dollars to pay back the loan. It is simply a result of IMF support of right-wing governments. And the IMF then tells the new government (whether Argentina or any other debtor) to pay off its foreign loans by lowering the wages of labor. That is the only way that the IMF recognizes for countries to “stabilize” their balance of payments. So the reform government is obliged to behave just like a right-wing government, intensifying the class war of capital against labor. The “cure” for their balance-of-payments deficits thus becomes even worse than the original disease, that is, its rentier oligarchy moving their money out of the country.

This is what a bunch of pathetic white insecure men wanted and now we all have to deal with it

Kinda like in the US if you think about it