It is that the inheritance of Macri It was so tragic that, in the final stretch of his administration, soon became “generalized”, the “selective default” which he had incurred August 2019according to grader S&P.
Two of the most important economists of that economic coven; Melconian and Sturzenegger are in charge of the program of the presidential candidate (Bullrich) whose story also generates all kinds of sensations or apprehensions among businessmen and women, and in the military. His indecipherable background doesn’t help: “From the Revolutionary Tendency-political arm of Montoneros-to president of the PRO.”
DELUSIONS OF GREATNESS
Delusions of grandeur or megalomania revolve around a delusional belief where the person harbors an exaggerated idea of their importance, abilities or knowledge, they may even believe that they are God. Therefore, we could define it as a type of delirium associated with power (https://www.ivanesalud.com/delirios-de-grandeza) In Argentina we were discussing whether or not we were moving towards an immediate dollarization of the economy, without asking the Fed. Obviously there was no probability of undergoing immediate dollarization, but now The Economist and Wall Street have already expressed it: “For Argentina there is not even a dollar” (Infobae, September 10, 2023).
Macri left in 2019 and left the country without international credit, less than US$9 billion of net reserves in the BCRA, US$106 billion more stock of nominal public debt, and a poorly reprofiled debt defaulted in August 2019; for Alberto Fernández to deal with.
A hypothetical dollarization would have required “a dollar at $4,200.”
If with a 20% devaluation of the official exchange rate all alternative dollars and prices skyrocketed, imagine what could happen if we returned to Dr. Frankenstein’s laboratory.
The promoters of dollarization have been persuaded and disciplined by Wall Street. Since yesterday they have not been heard or seen in the media talking about the issue. They completely changed the repertoire. However, there is no “zero probability” that they will return to their old ways in a couple of years, postponing the time to repeat 1989-1991.
Patricia Bullrich and Javier Milei do not represent, as they sell: a New Economic Organization based on free markets, without regulations or taxes, privileging productivity, with a small, modified and methodical public sector. The Bullrich-Melconian proposal is “prepo neoliberalism”, or “neoliberalism with sticks”, and that ends in tragedy like the one achieved in 2001, by Bullrich, Sturzenegger and the Mediterranean who said that “the financial system was going to be exported”.
LEAD LIFEGUARD
Patricia Bullrich’s intellectual organization looked so confusing, describing what she was explaining, that they had to call the hilarious establishment economist to take the chestnuts out of the fire. Lately, a kind of Luis Sandrini, who can make Fantino laugh and cry. Melconian is celebrated in the famous colloquium and business conferences for his jokes, his foul language and his extreme simplification, which does a lot of damage to his reflective capacity. “Melconian makes all the businessmen believe that they understood”also tells them about what they want to hear, “available to everyone.”
However, when Melconian was candidate for Senator, Macri failedbecause among ordinary people the economist has the halo of a “chachafazo”. They do not forgive him for having sued his country, accompanying the vulture funds, collecting money while he held the position of president of the Bank of the Argentine Nation.. The political cost of that episode is higher than the television complaint that Jorge Lanata and Maxi Montenegro they asked him about the foreign debt.
“Maxi Montenegro” wrote very clearly: “Every end has a beginning. Menem’s candidate for Minister of Economy, Carlos Melconian, was one of the main people responsible for legalizing the process of nationalization of private external debt, which Domingo Cavallo devised as president of the Central Bank of the dictatorship. According to the official documents accessed by Página/12, the young Melconian, as head of the entity’s External Debt Department, filed the investigations into frauds committed by multinationals and local economic groups with exchange insurance in the early eighties. The Central auditor team had detected self-loans, fictitious credits and other fraudulent maneuvers for 6,000 million dollars. However, those questioned operations were registered as legitimate and charged to the Argentine public debt with the invaluable collaboration of the current Menemist ministerial candidate”. (May 11, 2003).
REINFORCEMENTS OF THE “BEST TEAM OF THE LAST 50 YEARS”
”Invigorating the team, the return of Federico Sturzenegger, who assumed the presidency of the BCRA in 2015, being prosecuted for the Megacanje, the financial operation that in 2001. Sturzenegger, like Melconian, was expelled from the Macri Government. In just 17 months at the head of the BCRA, he had expanded so much currency that he had created another parallel monetary base, in remunerated liabilities of the BCRA, to perpetrate “the financial bicycle.” He said that he is working this way: “His ‘all or nothing’ message, so in keeping with the spirit of the work done, is what motivated me to prepare it. A large majority of Argentines want profound change, and I am confident that this change will begin to take place next year,” Sturzenegger said of Bullrich. (Infobae, September 5, 2023)
MILEI AND ITS CONTRADICTIONS AND THE INADI?
On Milei’s side, he has been contradicting himself and appealing to insults, disqualification, increasingly violent and arrogant expressions that cannot be ignored by voters who want to live in peace, nor by INADI. Last week, a video went viral in which he was heard using the term “mogolic” as an insult directed at the economist Roberto Cachanosky (Infobae, September 7, 2023), without him having apologized, until now.
On Twitter, in response to the 170 mostly orthodox economists, quoting a book from the Catholic Bible DHH: (1 MACCABEES 3:19) In a battle, victory does not depend on the number of soldiers, but on the strength that God gives. “170 failed economists who have been defeated both in the classroom and in action in the fight against inflation come to condemn a solution to monetary fraud…, many of the signatories live off income from foundations abroad and save in dollars, beyond being accomplices of the fraud of politicians and of having defrauded scholarship recipients by pesifying their scholarships in foreign currency in the face of the devaluation. Reviewing the list, it becomes clear to me why they avoid the ethical and moral debate on the existence of the BCRA (stealing is wrong), beyond the more than terrible results. LONG LIVE FUCKING FREEDOM”
The incompetent autocratic leader:
- Dr. May Smith calls him “the baby” in the address.
- He has plenty of energy, but he is dominant and volatile; He drives everyone crazy with his changes.
- Criticism and praise depend on your feelings at the moment.
- He wants to be powerful, but reveals a desperate insecurity.
- You tend to create weak collaborators, then you get angry because no one is capable of assuming responsibility?
- Believe in the omnipotence of your desires. When he gives an order, he often forgets the time and work it takes to fulfill it.
- He harasses his subordinates with insistent and whiny claims about whether the work has already been done.
- He lacks scruples, lies, accommodates the truth, boasts or adopts any measure he considers useful to achieve his goals.
- He tends to have evasive attitudes whenever a conflict presses him.
- It attempts impossible balances and appeals to the “anesthesia effect” of the passage of time.
- You are terrified of having to pay costs, but sooner or later reality will take charge of them. (Forceful leadership, Pablo Tigani, 2009, Ed. Dunken)
Milei and Bullrich do not have the characteristics of leaders, who can be asked where we have to go. They have already changed course many times in their proposals. Without addressing the problems of 40% of the country’s inhabitants (poverty), no Dr. Frankenstein laboratory program can be viable for more than 6 months, although Melconian cried crocodile tears, for having to throw the plan in the trash.
Director of Esperanza Foundation. https://fundacionesperanza.com.ar/ UBA Postgraduate Professor and Master’s Degrees at private universities. Master in International Economic Policy, Doctor in Political Science, author of 6 books
Source: Ambito
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