Low Financial IQ and Democracy are a HORRIBLE Mixture: Argentina will not modify $45 billion debt with IMF says Argentine economy minister Martin Guzman – April 24, 2022,
If you’re against austerity measures Argentina is a country you’ll want to pay close attention to. Lucky for Argentina it doesn’t have the world’s reserve currency because its people have gotten used to a lower standard of living, a lot of the middle-class groups in Canada, the United States, Australia etc. may not comprehend how a lower standard of living works.
a lower standard of living creeps upon you, as an example to the shock of many Canadians some First Nation groups don’t have clean drinking water? Why is that exactly? Is it because the Canadian government doesn’t have the money? or is it because they can’t pay any private entity enough money to drive to these rural areas and monitor these water treatment problems?
Allow me to clarify the word salad, Let’s say I’m a water treatment expert, I’m in high demand all over the WORLD, you can’t pay me enough money to deal with certain groups of people, the Government helped to mold to feel entitled to my labor. You have to understand that people who feel entitled to goods and services because of government political promises; often have bad attitudes, and why shouldn’t they? The government had been promising to fix their water problems for DECADES?
But you see the government doesn’t BUILD or even maintain anything, the government merely makes promises to do things and some things the government can deliver on as an example if I live in Toronto or a major Canadian city, and I’m hired to do water treatment, that’s easy, but for you tell me that I have to drive to a rural community that’s going to be hostile towards me because they imagine me to be a representative of a government that’s been failing them for years? I think I’ll pass on that job, thank you very much because if anything happens, to these people’s water even if it’s not my fault as a water treatment specialist the politics of the day will make SURE I and my private company are the scapegoats for the government.
I bring this up in Argentina because Austerity measures are out of the question for their citizens, no matter how bad things get, Argentinians love themselves some big government. It’s a low financial IQ thing, it’s what happens when the average citizen is NOT entrepreneurial and instead, expects fixed wages from the government and all the other perks promised to the people by their various socialist and communist heroes.
But let’s make sure we put things in their proper perspectives here, you can still survive and even thrive in Argentina, it’s just that it’s going to be very hard to do it, and you’ll be wise to educate yourself on something that’s in very HIGH demand that doesn’t have to adhere to fixed government prices, or rules and regulations that assure certain unionized entities have no competition from upcoming startups.
Some like to say Late-Stage-Capitalism doesn’t exist, it does exist, late-stage capitalism is what happens when certain entities are protected from market competition. Once the government stops innovators from innovating in a manner the government doesn’t like, consumer price inflation is INEVITABLE. Imagine the mailman had a monopoly on sending you your employment check and someone came up with a direct deposit idea to put money owed to you directly into your bank account, well big government and lobbyists would argue that Direct deposit would put the mailman out of business and therefore direct deposit either has to pay a fixed amount to the government or direct deposit has to be banned because it poses a risk to national security.
If you thought the above example sounds RIDICULOUS you’re right, but that’s how big government works. When ride-sharing was first introduced and was taking market share from the regulated taxi cabs, the Taxicab lobbyist ran to the government to prevent this “APP” from flourishing in a marketplace the taxis via the government monopolized. Customers of these taxi cab lobbyists were FORCED to pay an above-market price to ride a taxi, all because of the government.
This is not only consumer price inflation it’s also a misallocation of resources, this misallocation of resources inevitably leads to a government going bankrupt. The good thing for Argentina is that it pays almost IMMEDIATELY for its dumb big government ideas because it doesn’t have one of the world’s reserve currencies. In countries like the U.S and Canada, our stupidity has been allowed to multiply, because our reserve currency status allows us to weaponize our currency.
By weaponize I mean, the purchasing power of the U.S-Canadian-Yen and other world reserve currencies allows these countries to purchase foreign items on the cheap, whereas Argenintia can’t do this because their currency on the Forex markets is worthless. Being that Argentina is developed in comparison to other Latin American countries, if it decided to rid itself of Big Government it would start to flourish within a decade, but ofcourse that’s unlikely because most of the people in that nation have a very low financial IQ and low financial IQ’s with democracy is a HORRIBLE mixture.
In most nations majority of the people have very low financial IQ it’s for this reason that you’ll see people voting for socialistic economic policies. In the modern era, socialism has been replaced by “Progressive” politics and one of the reasons left-wing people like to use the term “Progressive” is because Austerity measures are ANTI-Progressive according to these people.
This ofcourse bounds their victim’s state of mind to imagine that Big Government is the only solution to end poverty and that my dear friends are where socialism guarantees to destroy your nation. The only way out once socialism has a tight grip on your society is to start a secession movement. Although there are a lot of protests in Argentinia the protest appears to revolve around keeping the government as large as possible to the benefit of more special interest groups!
Interesting times ahead!