:yea:

  • VILenin [he/him]@hexbear.net
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    10 months ago

    I used to have money troubles but today I decided to cut food and rent out of my budget, looks like I’ll be living the high life with this incredible newfound surplus!

  • CarbonScored [any]@hexbear.net
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    10 months ago

    annual inflation stands at 290 percent year-on-year, poverty levels have reached 60 percent and wage-earners have lost a fifth of their purchasing power.

    and a near 500-percent increase in energy costs

    “At the rate at which they are funding us, we can only function between two and three more months,” University of Buenos Aires (UBA) rector Ricardo Gelpi said.

    Turns out the economy isn’t quite as simple as “If the state does not spend more than it collects and does not issue, there is no inflation. This is not magic,”

  • FuckyWucky [none/use name]@hexbear.net
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    10 months ago

    Sucking money out of households.

    This kind of surplus isn’t sustainable, it’ll reduce future tax income because of the economy shrinking. So the only way to force a future surplus is with even more austerity.

    And spending can only be cut so much before people revolt.

    • Gosplan14_the_Third [none/use name]@hexbear.net
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      9 months ago

      This kind of surplus isn’t sustainable, it’ll reduce future tax income because of the economy shrinking. So the only way to force a future surplus is with even more austerity.

      That’s intentional, and seen by Milei as a good thing, just as it was for the libs of 90s Eastern Europe… and Thatcher and the like. Make the state dysfunctional to encourage the market to do it instead. It increases the profit rate for a few years (assuming people who rebel are beaten down, often literally) before market mechanisms mean the need to repeat the process.

      The cruelty is the point, as is said here a lot. I predict a lot more Mileis coming to the west unless the proletariat finds itself wanting to act against the bourgeois state, capital, wage labor, etc. once again, instead of finding less unpleasant forms of capitalism.