Given the nature of Congress, no matter which party runs it, Argentina's condition is possible here in the US. Remember the 'conservative' Paul Ryan's massive deficit budgets?
Yah.
So what's happening in Argentina?
“Thousands of Argentinians marched in Buenos Aires last week to protest rising costs of living. With key interest rates at 52% and inflation at 60.7% in May, demonstrators urged the government to resign while rejecting IMF loans that come with ever-tougher conditions for citizens” (Kamau, 2022). Which has deteriorated even more over the past 90 days: “Argentina’s central bank hiked the country’s benchmark interest rate 550 basis points to 75% on Thursday, a day after inflation overshot forecasts to near 80% on an annual basis” (Reuters / CNBC, 2022).
Think it can't happen in the US?
PRAY that it can't.
No comments:
Post a Comment