Wes Peden is considered the best juggler in the world. His technique amazes, but what really distinguishes him is his ability to sustain multiple objects in the air without losing the rhythm, even when everything seems to collapse. Something similar – although much less dangerous – happens today in Argentina by Javier Milei; Government, BCRA and Citizens execute a daily juggling routine to avoid the coup of the economic disaster. The difference, of course, is that while Peden dazzles, here the juggling are subsistence and panic. How long can this act be sustained without a network?
How long can stability be simulated by balance on debt, repressed inflation and social despair?
The recent judicial ratification From the conviction to Cristina Kirchner He seemed to give the government a symbolic victory. But what could have been an institutional triumph became the turning point for a Peronist opposition that, weakened and divided, found in adversity a unique opportunity to reorganize. In parallel, while politics is overheats, the Argentine macroeconomy offers an artificial calm that worries more than it reassures. Monthly inflation continues to decrease, but by force of vegetables (9% vegetables fell), footsteps and repression of the exchange rate. However, accumulated inflation remains extravagant for a country that has delivered so much in exchange for so little.
The Government celebrates these figures as if they were a structural achievement. But the reality is that the BCRA no longer buys dollars to strengthen reservations, but resorts to debt placations in foreign currency – it was auctional auctions – that, far from generating trust, increases the fragility of the scheme. Bopreal instruments, the rests with international banks, the elimination of the minimum tenure period for non -residents … Everything points to a precarious financing model, supported by “inflows” of short term. That is, more juggling; Attract dollars without background reforms, postpone payments, issue debt to pay debt and cross your fingers.
Monetary policy also revolves towards acrobatics. Lefi are discontinued, redeem by Lecaps and adjust legal lace, but without a clear compass. The logic, presented as an incentive to stability, clashes against the daily dilemma of millions of citizens: to spend or save? Invest or hide the weights? The consultation that previously had automatic response – “Buy Dollars” – today becomes an enigma. The answer we give is: How long are you going to have them? With an artificially ironed dollar, and bank yields that can result in fall, the middle and worker is launched to new forms of financial survival.
According to Quiddy and Mercado Pago, 38% of Argentines send their salary to digital accounts for daily returns. 44% compare prices for e-commerce before buying. And 20% differ their payments until the expiration, As if every day won it was a battle in this war of wear. Digital “reservations” allow to organize expenses, but fail to contain an increasingly widespread sensation: “Everything can explode at any time.”
Generationally, habits vary, but anguish is transverse. The Z gene cut out departures, millennials seek online promotions, boomers replace restaurants with house encounters. They are domestic decisions that, added, configure A country in resistance mode. Apparently, everything continues to work. But below the numbers and headline show, the Argentine economy hangs from a threadsustained by tactical decisions without horizon.
The Minister of Economy, the president of the BCRA and Milei himself seem convinced to be executing a masterpiece of financial engineering. But The admiration that a juggler awakens when he launches seven nails in the air does not apply to the official who plays with prices, the dollar, the debt and hope of millions. Because here there is no technique or network; There is improvisation and blind faith that Milei will not fail.
The problem is that the balls are already falling. Social protest and debt grow, the profits of the companies fader and the inflation beats under the carpet like a time bomb. The question, then, is not if this strategy can reach October. The question is what will stand when the show lights fall.
Maybe it’s time to stop juggling and start building real balances. Because, as any spectator worth its salt knows, the astonishment of the juggler lasts a few moments.
Director of Esperanza Foundation. https://fundacionesperanza.com.ar/ UBA postgraduate professor and masters in private universities. Master in International Economic Policy, Doctor of Political Science, Author of 6 Books
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
