More neoliberalism failure

Sometimes it's good to take a snapshot to see how things are going.

Right-wing nations following neoliberal policies

Brazil dips into recession

Argentina's currency collapses, markets price in default

Ecuador enters recession

Leftist nation not following neoliberal policies

Bolivia fastest growing economy in South America, Bolivia's economy driven by domestic demand

Of course there are a lot of other nations. Colombia, Chile and Paraguay are all slowly growing.

But it's interesting how "socialism" is to blame for Venezuela's economic problems (not how the U.S. has imposed an embargo), yet Argentina's economic collapse is somehow not the fault of the neoliberal capitalist ruling party.
It's almost as if capitalists are dishonest when it comes to assigning blame and taking credit. How else can you keep making the same mistakes?

while the constant outflow of foreign currency bears witness to the fact that Argentina’s rising external debt is financing capital flight, at untenable rates of exchange.

The recession is biting hard, and the opposition is calling on the population to fight against the economic programme. The government, meanwhile, is asking the country to have faith that the measures underway – structural adjustment, labour market flexibilisation, economic liberalisation, corporate tax cuts – will eventually restore market confidence.
The year in question is 2001. But what happened back then bears a striking resemblance with what is happening right now in Argentina, in 2019...
The current crisis has been built on the mistakes and questionable decisions made by the Macri government, in power since 2015, and its ‘neoliberal’ agenda – adjustment, deregulation, economic liberalisation, tax cuts for powerful economic interests – comparable to those that caused the 2001 crisis
The interannual inflation rate in May was 57 per cent.
The government claims that the high rate of inflation is due to insufficient neoliberal reform, but there is a strong correlation between the inflation and the increases in public utility tariffs and the high interest rates – both controlled by government economic policies

Funny how you never hear about the failures of capitalism in Argentina.

Because capitalism can never fail. Only we can fail capitalism.

It's like the Volcano Gawd. If the Volcano erupts, it must be because we didn't throw enough virgins into the Volcano.

22 users have voted.


detroitmechworks's picture

I mean, we haven't tried it before, it's so crazy it JUST MIGHT WORK. And if it doesn't we know it's a sign that we need to throw in more old rich guys.

I mean, it's a lot better than their other plans of "Let's shoot a bunch of brown people and take their stuff" and "Let's blame the people we sent to shoot the brown people and take their stuff" and "Let's blame the people who blame the people who we sent to shoot the brown people and take their stuff."

15 users have voted.

I do not pretend I know what I do not know.