Argentina and the LACK of Austerity Measures: Why Consumer Price Inflation is running RAMPANT in Argentina, Argentine Voters love BIG GOVERNMENT and they Print Money To Pay For it – October 17, 2022,

 

A lot of people who I RESPECT attribute consumer price inflation to the CENTRAL BANKS, me on the other hand, I point the blame where it should be DEMOCRACY! We need to stop pushing the notion that Democracy is this perfect benevolent institution, Democracy is MOB RULE, and if the MOB wants the government to do things the government wasn’t designed to do, then you’re eventually going to get SERIOUS economic problems.

What makes Argentina more of a topic of conversation than other Latin American socialist hellholes is that Argentina is rather developed in comparison to other nations, yet Argentina has been struggling with hyperinflation for a long time. If you’re wondering why this is, the answer is simple THE LABOR UNION movement in Argentia is STRONGER now than it’s ever been; labor unions have a place in Argentine politics, whereas in the United States, labor unions are usually lobbyists, that require politicians to their dirty work.

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What you’re about to read here is EXTREMELY IMPORTANT to understanding the problems PLAGUING Argentina. Trade unions in Argentina have traditionally played a strong role in the politics of the nation. The largest trade union association, the Confederación General del Trabajo has been a force since the 1930s, and approximately 40% of workers in the formal economy are unionized.

Trade Unions Fight For Price Controls and Price Controls Create SHORTAGES

 

 

One of the problems with rule fiat money, also known as legal tender or currency, is that it can MANIPULATE users into imagining that their “money” will hold its purchasing power no matter what their politics are. When money is backed by Gold or something SCARCE, when the government via THE PEOPLE comes up with a DUMB Political or ECONOMIC IDEA, the results of their dumb socialists-Left Wing ideas are felt almost IMMEDIATELY.

However, if the GOVERNMENT controls the money supply, the government can, in actuality, BUY TIME before people realize that the government is broke. Furthermore, the voting public, if they’ve been efficiently brainwashed, will NEVER suspect that it’s their DUMB IDEAS making the country poor because the voting public has been CONVINCED that they’re not destroying the country with their LABOR UNIONS and price controls, no the voting public believes some rich person or some people in the shadows are destroying the country.

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The truth is what’s destroying Argentina are PRICE CONTROLS and labour unions that MONOPLOIZE entire industries, which creates SHORTAGES. The General Confederation of Labour in Argentina as an example has over 3 Million members. In the last election, the current president Alberto Fernández received about 12 million votes.

The former labour Party of Argentina merged with Justicialist Party; I hope you see where I’m going with this. Now the problem of BIG GOVERNMENT is that FAR LEFTIST types are encouraged to destroy the economy in the name of “FAIRNESS” the people who want to solve the problem are labeled as HITLER. Labor unions cut off international markets, and let’s be clear about something; WAGES are nothing but a fancy word for PRICES, so when a labor union DEMANDS a pay raise, that keeps pace with INFLATION, while it simultaneously demands that NOBODY be allowed to OUTCOMPETE them in the Argentine markets, what you’re left with are SHORTAGES!

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If I’m an international business that once to do business in Argentina and I could LOWER prices for Argentine consumers, BUT, if I do this I might put an Argentine labor union OUT OF BUSINESS, not only might my company be hit with TARIFF/TAX, the labor unions will be incentivized to DESTROY my Argentine business.

So as a business person, I will AVOID INVESTING in the Argentinian economy, and I will avoid holding any Argentine assets that are affected by the labor unions. Now, as you’ll read above, 40% of Labor in Argentina is controlled by LABOR UNIONS! I imagine others want to be part of a labor union or sympathize with the labor union movements for whatever reason; this equates to PRICE CONTROLS all over the Argentine economy and SYMPATHY for the left-wing socialists.

This makes investing in Argentina EXTREMELY risky, so the moment things start to go wrong in Argentina, I can imagine how quickly investment leaves. The more people DUMPING Argentine pesos, the more rampant inflation will be.

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The worst part of trade union culture is what it does to IMPORTS, the strength of a country’s fiat currency and IMPORTS is very important because if I’m making something from China as an example, and the Argentine peso is turning into shit, I might start charging a PREMIUM to sell you anything in Argentine Pesos. As a matter fact, instead of charging you in Argentine pesos, I might force you to buy U.S dollars before I’ll sell you anything.

As we know, China doesn’t want its currency to get too strong, so Chinese officials don’t mind their private sector transacting in U.S dollars. So if a person from Argentina has to BUY U.S dollars to purchase anything, you can see how quickly the argentine peso can hyperinflate.

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What people tend to forget about the United States as an example is that the U.S usually imposes the FEWEST tariffs/taxes on goods it IMPORTS; add to this that America, although not perfect, has an above average record in regards to respecting PROPERTY RIGHTS, and you see why people HOARD U.S dollars. Any country with an EXTREME labor union culture clearly doesn’t respect PROPERTY rights, and it’s for this reason that Argentina, from an economic perspective, as it’s currently constructed, is an economic NIGHTMARE.

Now, I’m certain the government, including the central bank of Argentina, never INTENDS to hyperinflate their currency. Still, once the world starts DUMPING your currency, forcing your citizens to purchase other currencies to purchase things. The culture of your political system imagines socialism, and labor unions are a force for good. You’re creating a situation in which the country will eventually reach SHITHOLE status.

Some people like to blame central banks. I BLAME DEMOCRACY; I say Socrates was right all along! We’re all to blame for this economic madness, and if you want to fix these problems, you’d better speak out NOW!

 

 

 

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Interesting times ahead!