Mucca Mad Boys
Well-Known Member
I could definitely David Lammy coming out with something like this.
I could definitely David Lammy coming out with something like this.Cause it’s not as bad but it is bad and completely unnecessary I agree
How's it gone over in Argentina?Did somebody say Singapore-on-Thames?!
A lot of people felt this about Meloni in Italy and so far, it’s gone reasonably well for them.
Pretty well I’d say.How's it gone over in Argentina?
Overlooking that Trump held $40 billion over the Argentinian electorate's head then.Pretty well I’d say.
Argentina elections: Javier Milei and his 'chainsaw' austerity win big - BBC News
Milei's radical spending cuts have won favour with Donald Trump, but also attracted widespread criticism.www.bbc.com
Inflation was 211% when Milei entered office, it’s now 1.5%.
Their economic growth figures are projected to be 5.2% in 2025. Poverty did peak as but is decreasing significantly over the last year.
Or Jim Capaldi who I've just found out was the drummer in Traffic,which I should have guessed but didn't, knowing him from his solo work in possibly 80'sIf you're on about my singing ability, Peter Capaldi is probably more accurate
That's awful if we have a weevil problem infesting.The FCS guarantee up to 31.7k for people and firms at that time. Which isn’t a lot for small business, but financial system collapses if people can’t do basic transactions or simple things like wages being paid. Bailing out the banks was a lesser of two weevils.
To find common ground, people probably should’ve went to jail for this.
All roads lead to Trump…Overlooking that Trump held $40 billion over the Argentinian electorate's head then.
That's awful if we have a weevil problem infesting.
Yeah I mean all he did was fire tens of thousands of people, gut public services and so on...and we'll ignore Trump bribing a country to keep his mate in power.All roads lead to Trump…
The has got inflation down from 221% to 1.5% and despite “chainsaw” austerity, they’re growing at 5.2%. The turnaround is impressive whichever way you look it.
If it’s sustainable, and there’s good reasons to question that in the long term, Argentina could quickly become a model to follow.
They still get to sell them to China too, soya beans that is,at the possible expense of American farmers who may or may not be happy about things.Yeah I mean all he did was fire tens of thousands of people, gut public services and so on...and we'll ignore Trump bribing a country to keep his mate in power.
A good point. Trump has betrayed his own farmers to prop up mates of his abroad.They still get to sell them to China too, soya beans that is,at the possible expense of American farmers who may or may not be happy about things.
Argentina was a genuine basket case, what even is your point in bringing up Milei?Yeah I mean all he did was fire tens of thousands of people, gut public services and so on...and we'll ignore Trump bribing a country to keep his mate in power.
How about the value of the peso?By any metric, Argentina is making progress under Milei. The pertinent question is whether or not it is sustainable or not.
Isn't the whole premise of financial systems and capitalism that you let the market decide? So by their own rules if they're going to collapse they should be left to do so and whoever remains gets to fight over the scraps. If that system is going to collapse unless it gets bailed out by another one, then it's a system that doesn't work and needs to be put in the bin anyway.The whole financial system was about to collapse. The banks don’t have the cash if everyone wants to withdraw their money so there would’ve been civil unrest before the government could’ve got control of the situation
senior bankers should’ve punished for what happened though, it was a disgrace nobody was
Actually there was a 100% guarantee for retail savings at failed banks during the crisis to prevent panic.The FCS guarantee up to 31.7k for people and firms at that time. Which isn’t a lot for small business, but financial system collapses if people can’t do basic transactions or simple things like wages being paid. Bailing out the banks was a lesser of two weevils.
To find common ground, people probably should’ve went to jail for this.
How about the value of the peso?
Is it sustainable for a country to rely on a $20 billion bailout every few years from a friendly US administration?
You say this with zero irony and it’s quite funny.Actually there was a 100% guarantee for retail savings at failed banks during the crisis to prevent panic.
And aren't we taught to not put all our eggs in one basket? So if you had over £30k in one bank, start using another one and spread your risk and guarantee more of your money.
As you're so worked up about the public sector, if the public sector acted in the same reckless manner and needed the same levels of bailouts and support would you be happy for the government to give it them? Or would you be outraged, say they should be refused and demand massive changes to make them more responsible and accountable?
No magic money tree unless you act irresponsibly in a sector that pays out huge dividends and bonuses, then suddenly a whole forest appears.
Double that.How about the value of the peso?
Is it sustainable for a country to rely on a $20 billion bailout every few years from a friendly US administration?
Interesting question that, obviously at the time we we're, well some of us were arguing if the bailout should Go to the public who held the debt to pay down those dodgy mortgages two bangs for one buck, experience of COVID has made me feel probably against that now, not as some uncaring person but I know probably hold a different position, for me now I see inflation as nothing more than a filter upwards to the top that let's them attain even more assets?You say this with zero irony and it’s quite funny.
Simple question, would you have let Northern Rock and other banks fail?
Milei is a case study many fiscal conservatives are watching closely. He’s a thoroughly entertaining politician if anyone takes the time to watch his interviews (with sub titles). Clearly a well read eccentric and he comes out with pretty mental things.I'm pretty sure you lot use AI on both sides of the argument. I mean I know we have experts on many topics here on SBT, but the inner running and financial details of Argentina are certainly a new one. I consider myself reasonably well read, and I couldn't even tell you who was in power let alone so much parliamentary and economic detail.
QE is the real evil here. It’s lead to massive transfers of wealth because cheap credit and inflating asset prices is a toxic mix. Asset rich people can leverage their assets to buy more assets and so on. Meanwhile, if you happened to not have assets during this boom in prices, the price of admission is ridiculous.Interesting question that, obviously at the time we we're, well some of us were arguing if the bailout should Go to the public who held the debt to pay down those dodgy mortgages two bangs for one buck, experience of COVID has made me feel probably against that now, not as some uncaring person but I know probably hold a different position, for me now I see inflation as nothing more than a filter upwards to the top that let's them attain even more assets?
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