Showing posts with label austerity. Show all posts
Showing posts with label austerity. Show all posts

Sunday, December 31, 2023

Socialist Protests Erupt In Argentina As Milei Implements “Austerity” Cuts
By Tyler Durden

In a scene that is probably a small taste of what is to come, socialist activists and workers unions carrying images of Che Guevara and Eva Peron converged on Buenos Aires to protest Javier Milei’s impending “austerity” cuts. The cuts are a part of Milei’s sweeping economic measures that will erase or rewrite over 300 rules regulating and restricting private enterprise within the nation.

Deregulation, protesters say, will pave the way for big business interests while reducing welfare programs and protections for the public. The protests are of course built upon a number of assumptions and are reactionary at best, given that Milei has been in office for a mere two weeks.

“The goal is to start along the path to rebuilding the country… and start to undo the huge number of regulations that have held back and prevented economic growth,” Milei said in a televised speech from the presidential palace.

The protests and anger from leftist elements within Argentina illustrate the numerous pitfalls of allowing socialism to be rooted within any country for any length of time.  Though Milei’s opposition often argues that Argentina has never been “truly socialist,” the government policies that have been in place for decades certainly are.  It is a classic far-left deflection:  Whenever a socialist government or economy fails, claim it wasn’t real socialism.  Rinse, and repeat.

Any effort to free up markets within such a system immediately faces an array of hurdles.  Opponents argue that the reforms will destroy the economy (the economy which has already been destroyed by socialism) and that the people will suffer without entitlement programs (which the country cannot afford).  Government handouts and welfare promises create a deep and dangerous addiction within a population.

The country’s national debt has climbed to over $400 billion US dollars and they are struggling with a $44 billion IMF loan.  However, the real threat is their triple digit inflation which is igniting a mounting economic crisis.  It is the same crisis that has resurfaced multiple times since the crash of 1990.

Latin America’s third-biggest economy is on its knees after decades of debt and financial mismanagement, with annual inflation at 140 percent and 40 percent of Argentines living in poverty.

Milei’s first action has been to reduce government waste, cutting over 5000 bureaucratic workers with more layoffs pending.  He is also working to cut a number of public works programs and to curb overall spending.  His announcement of huge cuts to state subsidies on fuel and transportation are the likely cause of the recent protests, with millions of citizens heavily reliant on government assistance.

The real test will be his efforts to introduce free market enterprise and to boost the Peso while making the shift as painless as possible.  Even the most optimistic analyst expectations suggest a chaotic downturn within the economy during the policy adjustments, which will no doubt be exploited by pro-socialists.  Milei’s opponents were already declaring his efforts a failure after only a few days in office.

Source

http://violetflame.biz.ly/cgi-bin/blog?tags=tyler+durden

 


 

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Thursday, September 7, 2023

Global Collapse Imminent

Global Collapse Imminent

By Peter B Meyer

Posted on September 6, 2023




A self-created Problem in search for a Solution

The world economy is not brought to its knees, by incompetence, but by the imposed taxes and economic policies of austerity that involve countries facing catastrophe to be bailed-out by contributions from the printing press. If the problems were only ‘incompetence’ the task would be very straightforward, just focus on replacing the ‘incompetent’ with competent ones. It is not like that. They are very ‘competent’ at following the agenda of calculated incompetence with the aim of creating an enormous problem in search for a solution. It is conspiracy to turn the World into a Totalitarian Dictatorship run from Israel by the Rothschild Khazarian Mafia.

Political leaders are all big-time insiders following the script authored by the Deep State Mafia. Engineered economic implosions have created massive problems in search of a solution and what is imposed is to delete what is left of national sovereignty in order to ‘fix’ what they have created. Better known as Problem-Reaction-Solution leading to another giant step on the way to Totalitarian State of Europe and the rest of the world.

The euro was never meant to be an end in itself. The plan is for an electronic single world currency. The euro was the stalking horse to delete all the individual currencies that existed before. The plan is to trash the euro – and the US Dollar – eventually, and move to a global currency with all consequences for more global control.

The obstacle of huge debts makes it impossible for the world to recover. Nor is it meant to, as the puppet governments are instructed accordingly.

Worse than unmanageable debt, is the compounding of this debt. The EU and US debt, are measured in the thousands of trillions, and compounding initially at low interest rates for years. Now, rates are rising, so the existing debt compounds at higher rates, which raises the total debt by hundreds of billions of euros and dollars, annually.

Without any doubt this means: Default, Bankruptcy, Ultimate Collapse and The Greatest Bear Market In History.

The prevailing trend in the world will be debt reduction and deflation, which will eventually lead to default and bankruptcy. Either way, the current trend of increasing debt is unsustainable. And once it is unsustainable, it will lead to a total collapse, in a bear market never before seen in history.

Sooner than most people think, people are losing confidence in the monetary system as a simple result of investors around the world losing confidence in currencies that are no longer a “safe haven” they once were.

When that faith is broken, which could be soon, the power of the Deep State Criminals is gone.

In a one big debt world, paper currencies are losing confidence, one after the other following, sending everything else into the abyss; stocks, bonds, commodities, real estate, etc.

When currencies collapse en mass, the entire world economy is destroyed. Most nations will suffer severe pain. The middle class is wiped out. The way people live, work, travel, retire, and invest, everything will change. Some of these in ways most people even cannot imagine.

Middle Class wiped-out

The real concern is what happens to everyday citizens – especially the middle class. If governments go broke, all citizens’ wealth and savings are put in jeopardy. Massive changes in retirement system and Social Security are inevitable. Pension funds will be confiscated, augmented with huge tax increases.

Then, a “wealth tax”, a fee on all your savings and assets will be applied. Anything is possible. It only gets worse. When currency crisis hit; the number one priority for governments will be to control the existing supply of capital. All kinds of new laws and rules will be implemented about what you are allowed to do with your own money. Wherever and how your money is stored and moved.

Massive inflation will occur when all those trillions and trillions of newly printed currencies make their way into the economy. It’s going to be especially difficult for seniors and anyone who relies on their government for income.

With a total collapse of the stock market, ten times worse than Black Monday in 2008. Even the 1929 stock market crash happened in one day. The middle class will be wiped out. The real killer is the effect of all this on our society and our freedoms.

Being more specific; the coming crisis won’t be just a banking and mortgage disaster, it will be a full-blown “currency” and “real estate” crisis two of a kind the world has never experienced before.

The savings of millions of people will be wiped out, overnight. The stock market could crash by 50% or more. The way of life enjoyed for the last half a century will come to an end. And this is not a question of if  but when it happens.

When money is destroyed, businesses are also destroyed. Friendship and family breakdown are next, because for many, faith in money is crucial to a free society. Without faith, you can forget about businesses and trade and any sense of normality.

Unfortunately people won’t have a clue what to do when there are long lines just to access the ATM – or when banks start shutting down. They won’t have any idea what to do when stores stop accepting credit cards, electronic currency, dollars, euros or whatever as payment.

Be assured, this will turn into chaos because of social unrest, especially in cities. People are going to be very, very unhappy when they turn on the TV one morning and hear that their life savings suddenly are worth a fraction of its former value. While the price of everything like milk and bread skyrockets.

Debt money could have been issued ‘Debt-free

The world over, governments have embarked on an out-of-control experiment with debt money that they could have issued as ‘debt-free-money’ themselves, without interest.

In today’s world credit money is printed in absurd amounts out of thin air – and so much money of it is borrowed, it never ever can be paid back to creditors.

It took for the USA “216 years to rack up $8.5 trillion in debt… and then just 8 more years to double that amount.”

Governments won’t be able to do a single thing about this crisis, as they themselves have created it!

Real monetary reform will only come after a major currency crisis hits. And for most people that’ll be much too late. That’ll be only after a catastrophic real estate and stock market crash, after the bankruptcies of dozens of financial institutions, and after many people’s savings are completely wiped out.

But there is Light … this is the correct moment the world is waiting for, because this is the moment for implementation of the new QFS gold backed money system, provided by our exterrestrial brothers and sisters. Be assured a golden era lies in front of us!

Help Wanted

If everyone awake convinces just one sleeper that planet Earth belongs to us, is that enough majority to destroy the cabal and end our oppression!

It is now or never, to make planet Earth a free world for all of us.

Thank you!

Peter B Meyer