Unions are meeting to discuss their response to an adjustment plan whose burden, they warn, will fall on the working class: ‘A total social tsunami is coming’
Anarcho-capitalism means that the rich can exploit the poor without any limits or protection. Whoever thought this was a good idea deserves to live with the consequences. The others have my sympathy.
TBF there’s a reason for the devaluation. In countries like Argentina the government sets the price of the dollar, but that doesn’t affect the real price, so in the end the government pays the difference. In the case of Argentina the government basically made the dollar half its real value, so say for every 100 dollars an Argentinian bought the government needed to pay 50.
It’s a bad situation all around and there are no good solutions, but just leaving it be is unsustainable.
Well, could always spend some of the money wasted on exchange rate manipulation on food subsidies instead. But I think just making the transition more gradual would be my bet
You are not logged in. However you can subscribe from another Fediverse account, for example Lemmy or Mastodon. To do this, paste the following into the search field of your instance: !news@beehaw.org
Breaking news from around the world.
News that is American but has an international facet may also be posted here.
Guidelines for submissions:
Where possible, post the original source of information.
If there is a paywall, you can use alternative sources or provide an archive.today, 12ft.io, etc. link in the body.
Do not editorialize titles. Preserve the original title when possible; edits for clarity are fine.
Do not post ragebait or shock stories. These will be removed.
Do not post tabloid or blogspam stories. These will be removed.
Social media should be a source of last resort.
These guidelines will be enforced on a know-it-when-I-see-it basis.
Anarcho-capitalism means that the rich can exploit the poor without any limits or protection. Whoever thought this was a good idea deserves to live with the consequences. The others have my sympathy.
TBF there’s a reason for the devaluation. In countries like Argentina the government sets the price of the dollar, but that doesn’t affect the real price, so in the end the government pays the difference. In the case of Argentina the government basically made the dollar half its real value, so say for every 100 dollars an Argentinian bought the government needed to pay 50.
It’s a bad situation all around and there are no good solutions, but just leaving it be is unsustainable.
Having the currency be free-floating is the best policy. The transition might be a bit too rapid, though
deleted by creator
Yeah. That’s the challenge in situations like these: How do you get to a free-floating currency without the people starving to death.
Well, could always spend some of the money wasted on exchange rate manipulation on food subsidies instead. But I think just making the transition more gradual would be my bet