As long as it’s their “own kind” screwing them over, those same millions generally are fine with failure and corruption. As long as they get to call it their own. Or at least until they arrive at America’s doorstep and expect a higher standard from another group of people…..
Study Peru, it has low inflation. Peru also had hyperinflation in the 90’s and changed currency two times. A president called Fujimori won elections pretending to be leftist but once in power he implemented right wing policies and turned the country around. A case study for America 👍
@@toddtheisen8386 America does not have to be like Peru for many reasons being one that Peru right now went back to a leftist party president. However it can learn from what works and what does not. For example if you give rewards to businesses that create value you will attract lots for businesses that will create more value but if you reward or not punish bad behavior such as stealing in California you will have more of it. Anyways I will just prepare for the storm that could approach if we do not change course. Stay safe!
@@yoannaaybar1156 Well yoanna, America has a leftist president nowadays also and he is busy pushing a WOKE Agenda, eating ice cream and stumping down while the country falls apart.
that's what I got from investing first time with Mrs Gwen Irene Hodges. I got her recommendations and after series of investigations online I was a little convinced she must be experienced and trusted across the United States. So, I decided to give her a trial. I'm surprised to receive my profit today like never before.
I'm not surprised about your profit returns with Mrs Gwen Irene Hodges, I call her Mrs GURU. she's quite different from other wealth managers I've worked with. My success in the market is all about her.
Glad you’re talking about my country! it’s sad to think that we are a country that has the power to feed 400 million people, meanwhile 1 of 4 kids in the country don’t have any food, and everything it’s because of the shady, greedy and corrupted politicians that we have.
The saddest part about crumbling economies is that as the prices go up, the income stays the same. I was there less than 12 months ago and the dollar value was $1 dollar to $300 pesos. Now they are above $800 pesos per dollar.
I'm 33 years old, I'm Argentinian/Venezuelan (my mother is from Venezuela and my father from Argentina) I have both nationalities. I've lived all the recent tragedies in both countries, at least until 2016 I lived 6 months in one country and 6 in the other (I've never come back to Venezuela since 2016). So I lived the 2001 crisis in Argentina, the 2016 total collapse of Venezuela and now living the total collapse of Argentina in 2023. Can you imagine how much I hate socialism? And then when I travel most of the "first world", their stupid youth belives in these horribles ideas and I found them explaining me, how good socialism is, while wearing a che Guevara t-shirt, an iphone in the hand and living with their parents. I think the whole world is f#ck up.
That’s why the powers at be take true history or economics out of schools not allowing people to see the damage they are doing. Patric you are a very intelligent historian & economist showing facts. I learn more from you.
I pray that we Americans do NOT allow this to happen here! Where do we flee to if we cannot stop the spread of Marxism in the last Bastian of Freedom in the world?
@@robroszk we’re definitely on the verge of collapse, could go either way. People being scared of the woke mob enabled them to make too much progress the wrong direction, that’s why I always speak up despite losing friends and making my life harder. Freedom takes sacrifices
He goes on angry rants and calls everything socialist. Seems crazy. There must be better ways to deal with economic and social issues than legalizing everything, privatizing everything and empowering predatory forces in society as these libertarians are known to do.
@@anacc3257 that’s because everything there is socialist and look what it caused? I’m not sure if you’re blind or stupid but maybe you should figure out how economics works before you talk about it because people like you cause these problems. Not understanding anything and then repeating rhetoric is exactly what caused these problems, get help or read a book
The way I see this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don’t have any economies to utilize or control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
But the professionals are still crushing it right now because they have both the necessary approach to pull off a profit in the market plus access to insider market knowledge that isn’t made public.
Exactly why i enjoy market decisions being guided by a professional, seeing that their entire skillset is built around going long and short at the same time both employing risk management and market experience, been using the expertise and guidance of John Desmond Heppolette, for over 5years+ and I've netted over $3million in that time frame..
I curiously made a research of his full names after reading what you shared, I came across his web-page online. My portfolio suffered a big hit, holding it further won’t be any good. I’ve heard of people netting hundreds of thousands this red season I’m really glad to see this…
That’s true! To succeed the financial market, you must review and put into consideration the dynamics of your trading assets prior investing. Analysis based on research is vital which is why I recommend trading with a professional if you don’t know the basics.
I'm living in Argentina as an athlete and entrepreneur, and the situation is very difficult. But in every situation there are opportunities if you have the right mentality. As an Argentinian, thank you for this video Patrick!
That point on Messi was hard. If just one athlete is such a crucial component of your local economy, such that his presence or exit can spell doom on a moderate to large scale, that's a sign that things are in the red.
I was born and raised in Argentina but far away from Buenos Aires. I can tell you that the Italians that arrived in Argentina brought fascism with them and succeded spreading it as an ideology upon the rest of the population specially in Buenos Aires which is the place where decisions are made. Argentinians tend to be very statists when it comes to economy, they hate the U.S and are also xenophobic with other latin america countries like Bolivia and Colombia
@@LongLiveIsrael2024 We don't hate US (country and people). Politicians love to be bought by US. Ordinary people are the ones who hate US foreign policy towards our country. Oligarchs and warmongers in Washington consider we are their "backyard" from where they can steal our natural resources
@@LongLiveIsrael2024That's unfortunate. My family left Italy as part of the wave that left to escape fascism. After the poverty it caused, I'm surprised people were eager to recreate it.
@@jacobperez8921 Argentina is not under real Peronism. The ones ruling the country are Democrats owned by the Deep State in USA. Trump took some economic measures similar to the ones Peron carried out. This is the reason why real peronists supported Trump's presidency.
Yep I see it all the time on Facebook people asking who has stamps to sell. It's pitiful. I never do that crap because I'd rather work and buy my own stuff.
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"stop doing charity with my money, it's easy to be gay with someone else's ass..." Javier Milei
@ Pero pasame el video donde Milei haya dicho eso. Porque él jamas se expreso asi, ya que sabe que seria usado por la opocion para decir que es homofobico. Y si realmente lo dijo entonces no me parece bien, no hace falta expresarse con desprecio de la sexualidad de los demas, porque existen millones de gays o cualquier rama del LGBT que viven de su propio trabajo y ni siquiera militan.
As an Argentinian I really appreciate this analisis. I’d love to share it with people who doesn’t speak english. I could write perfectly translated subtitles. This content should be widely spread across our country. Let me know.
Wal Mart used to have seminars for their employees to learn how to apply for welfare. Millionaires outsourcing jobs has caused widespread unemployment that has stretched social welfare and caused massive drug addiction and homelessness. It is the Citizens’ United where the problem is!
True. If you get money out of politics, no donations from any organization. You could have individuals domating but maximum contribution can be a thousand dollars. Set term limits to 3 terms with a decent 401 k plan. Allow only voters who have paid an average of 10% or more taxes on their political cycle to vote. That country would be run to perfection.
Dollarisation is a quick fix that I argue does more harm to a developing nation like Argentina. It means exports, important to a commodity economy like Argentina, are now expensive relative to other exporting nations, except those currencies greater than the US. This reduces the export ability of the Argentina economy.
My Argentine friend has lived here for 40 years. She’s disgusted with what the U.S. is doing, and has allowed to happen. She says we’re copying Venezuela, with all the welfare and recent government handouts disincentivizing regular people from working. She believes we will soon be no better than Argentina. She’s disgusted by our open borders; all the homeless and mentally ill in our now-filthy streets; and people having more children than they can afford, taking money from the taxpayers, many of whom don’t even have children because we cannot afford to. We don’t have kids, but we have to pay for theirs. She said when she came here in the late eighties, this was a beautiful country, everything was clean, and businesses were efficient. Customer service people were intelligent, polite, answered questions properly, and resolved problems. Not anymore.
Don't get me wrong, I know the economy is in shambles and in order to break even and make profit, we have to ride it out until stock recovery, but how are some folks in the same stock market as me still able to pull off substantial profits of as much as 650K within months, what am I doing wrong?
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over $800k
Heather Lee Larioni really seems to know her stuff. I found her online-page, read through her resume, educational background, qualifications and it was really impressive. She is a fiduciary who will act in my best interest. So, I booked a session with her.
I love Argentina.. Despite the economic chaos. As a Canadian I long to return to Argentina. There is poverty there for sure. But in Edmonton Alberta where I live more than 100 homeless people have frostbitten limbs amputated every year. Calgary has similar numbers of amputations against homeless people.. And many more die frozen or OD'd on the streets. No 'Sharia'. Just plain old 'Sucks to be You Law. In the province that sends 12 billion dollars a year to Quebec. The province where Trudeau lives and elects every Canadian Prime Minister.
I grew up in Argentina when I was little, so sad to see such a beautiful country turn into this. Hoping Milei wins so that at least the first step can be taken to turn this around. Even then, it will take at least a decade to see some progress. The reason many people still survive is because most of the working class own their homes, mortgages are very rare. The vast majority of very poor people live in the ghetto called las villas and make more money from social plans than someone with a college degree...
Yeah I have a great feeling about dollarization too, specially since after Menem did the exact same thing it ended up working so great. I'm really super excited to live in an economy that can go down that path again. :)
@@Leann-ncon la dolarización no hay vuelta atrás eso es lo bueno. Con la convertibilidad aumentaron el gasto e hicieron volar todo por los aires, al no poder imprimir billetes y no ajustar sus gastos y jodas, se llevaron puesta la regla y volvimos a que el politico de turno vuelva a imprimir billetes para generar un falso bienestar. La dolarización si se implementa bien es irreversible y si vuelven a las andadas los políticos no nos van a poder imponer su moneda inflacionaria.
Among all the nations who speak spanish in America, Argentine is in my opinion the country that has more smart peoples in all fields. Nevertheless it has a big crack inside that share citizens handling by bad politicians. Those are that Milei name la casta.
@@reneestevez7193Because they are all Mediterranean race. Whiteish. When will you fools learn Race is tied to IQ and spiritual value as the Bible says
Last year when I was traveling Europe, Northern Africa and the Middle East, there was always a family from Argentina on my tours. It was only then it leaked my interest to visit. I was planning on going this year but plans changes and will go next year.
An excellent summation as the country approaches Sunday's general election. I taught English there in 2015. The dollar was equivalent to 17 pesos. I recently returned to meet my host family, ex-students and former supervisor. The dollar is now equivalent to 1,000 pesos. It's heartbreaking. The country has everything and the locals are so friendly. One Italian man referred to his country as a very beautiful but stupid woman. Sadly, the same can be applied here.
All of this is true, and sounds like Argentina is a sinking ship, maybe... but even tho Messi is living in US now, he's bought a substancial amount of real-state here in Rosario, Argentina, the place where he was born, and he said it times and time again, he's planning on retiring here in Argentina, and he travels here very often, and spends every single holiday here as well, he even got married here. I know it sounds dumb, but there's something you can't see on paper or equations, and that's the inexplicable way of living we have here in Argentina, the human affections and traditions, every one that visits Argentina leaves mesmerized by it's charm, and that's something you can't give away. I lived in Canada for about 10 years, and I moved back, even tho things are bad, you feel alive in here, and that's something no foreigner can experience. I hope Milei can solve many of our issues, because Argentina is a magical place.
Scholars who study the stock market’s historical performance estimate that over time, the payment (and reinvestment, and compounding) of dividends have contributed anywhere from 30% to 90% of the S&P 500’s total returns. I want to spread across $400k into profit yielding dividend equities but unsure of which to get into.
I stopped listening and taking financial advise from these RU-vidrs, because at the end of the day, I end up with a bunch of confusing stocks without knowing when to take profit, In reality, all I needed was professional advice to take advantage and make profits.
Not exactly, I started out with a financial advisor called " Camille Anne Hector ". Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI. However, do your due diligence before contacting a financial advisor.
Crazy This reference seems really valid.. Just looked up her full name on my browser and found her webpage without sweat, Alot of years experience is certainly striking! very much appreciate it thanks for sharing
You should do a similar clip talking about Italy’s economy. Similar life style as Argentina and I believe similar policies not to say Italy had close to 40 prime ministers in 40 yrs and some were not elected but appointed.
Yes, welfare is designed to move a country into socialism, with the irony being that no socialist or communist country has a welfare system to speak of. Large scale state welfare is only possible in a free, liberal (not leftist) society, but ends up destroying them.
Congratulations. You have made a very good example of an explanation of Argentina's economic history that manages to be entirely wrong pretty much about all the causes of every single problem the country faces, yet you make it sound believable for those who are prone to think that peronism/welfare are the roots of all evil.
I was brought to the USA when I was 12 years old from Argentina. Since day 1 I said, the future of this country is Argentina. I saw it as a kid. Very sad that that we are following the exact same steps. I experienced hyperinflation as a kid (I had to go back home to get more money 3 times in one hour just to buy cheese to make pizza form a store one block away from my house) and I see the exact same inflation issues starting to come here. It's about to become a vicious cycle once employees start asking for raises like the Auto Workers Union. Once they get the raises, prices will go up. The water will take a long time to settle. I saw this movie already and it's not pretty. If I hear that Don't cry for me Argentina again i'll throw up.
Milei will be the next Argentinian president, I am not from there but I been following himfor years as an economist and always hope one day he would run for some political position as he did and won and now I can see him as the next president, he would say "I am not going to lead the sheep but to awaken the lions" which he has done since today the young are telling their parents and grandparents to vote for Milei which is the opposite it used to happen, I see a bright future for Argentina, he knows economics, nobody else can debate him, he has a great agenda to be executed in phases, God bless Argentina and it's people
I think the reality is, the elites, the ruling class doesn't care. They're still at the top and life is pretty good for them. But what's even stranger is for how long the citizens allow it.
Brazil depends on Congress to avoid becoming the next Argentina. The Milei victory doesn't mean he can implement the changes. The Argentinian congress and public sector interests probably won't allow him to make any change. BTW, the Argentinian government is on strike to protest against Milei leading the polls
Coming from an Argentinean, here´s a fun fact. At some point in time, some of these "presidents" had the slight idea to receive presidential retirement pension for what they did over these 12 days, figure that! It speaks about the honest polititians we have. We have a say here "Argentina... you wouldn´t understand"
Thank you for a devastating summary of Argentina. It gave me one more push to leave the country, which really is not a country, it's a trap that destroys its own citizens. People are suffering and not just because of the economy. There's a combination of insecurity, drug trafficking, unemployment and enormous inflation. It's an impossible country. And the worst thing is that people still sing "Perón Perón, how great you are🎶"... people went through brainwashing and ferocious indoctrination since primary school during Peron time, and last until now. And of course, corruption with an ex president Cristina who is a Cleptocrat and stole an entire gdp.
Don't forget the taxes, we have crazy taxes in here mainly to imported products, since those have to be bought by importers in dollars and the government doesn't want the dollars leaving so you get massive taxes to discourage importation. Some things can have as much as 200%tax thus tripling it's price.
What's amazing? Shouting at leftists, pretending every issue is connected to leftism (which never is defined) and going full on libertarian is just off putting
Look, I am Argentine, I live in Buenos Aires, it is true that the economic situation is not the best, but I am also Italian, and I lived in Turin until February of this year, I can guarantee you that life is much better in Argentina than in Italy There are problems in Argentina, that cannot be denied, but the capacity for consumption of goods and services is much greater in Argentina, at least I am, being an electrician, and in general, the restaurants are always full, there is a lot of consumption, clubs and bars. Full every Friday and Saturday, and the factories are at full capacity. There is high inflation but salaries rise 100% every year as a result of union negotiations. The problem is lack of credit. This is my personal opinion having lived 1 year in Italy in one of the richest provinces.
Its important to note, that "dolar coldplay" isnt the only dollar flavour. Also, you mentioned the tax on farmer exports ... Well let me tell you, they not only tax the shit out of us, but they also force us to vhange the payment for those exporta, wich came in as dollars from abroad, into pesos, at the infamous "official rate" wich is a lie from the government. We basically end up recieving about half of the actual payment BEFORE taxes.
14:25 A clarification regarding the fact that Argentines can only buy 200 dollars per month at the official price. I don't know anyone who can buy dollars at the official price of the Central Bank because we are all blocked in the system because during the pandemic we forcibly received a subsidy from the state which has blocked us to this day, because "if you receive help from the state you will not You can buy dollars at the official price", and the worst thing is that no one could refuse to receive that subsidy, there was no way to reject it. The only ones who can get cheap dollars are the politicians themselves and no one else. This is how the government took away our freedom, or the right to be able to buy dollars through legal means, cursing us with a subcide of a few pesos.
I’m from Argentina but I live in California and I always tell people that who we pick to be our leaders affect us greatly and that if we don’t pick the right people, the United States is going to end up like Argentina. I was homeless for almost 4 years in Argentina with my mom, trust me I know what I’m talking about when it comes to this. I love United States so much because it has given me all the opportunities that my own country wasn’t able to give me therefore, I also feel American. I want our country to thrive and progress people need to stop Getting brainwashed by the media and they need to start thinking for themselves.
Great vid, What’s your perspective to Argentina’s move towards BRICS as a new member and its relation to dolerization, joining a group that is looking to ‘de’-dolerize?
El problema es que el Gobierno actual no quiere la dolarización, por eso se unieron a los BRICS. Pero ese Gobierno esta destinado a perder en las elecciones. Mucha gente sospecha que estan tratando de tomar medidas para estorbar el futuro Gobierno...
"I care not who controls a nation's political affairs, so long as I control her currency" - Mayer Amschel Rothschild You heard it in the video at 15:24 - "The biggest problem associated with dollarization is the loss of an independent monetary policy" Once it happens, Argentina will become a slave to US bankers. I give you 3 guesses who pays Javier Miley presidential campaign (the one who calls for full dollarization)
"Dollarization" is the popular name. Javier Milei wants currency competition, he supports Bitcoin and any other type of currency, he is against State Printed Currencies and he clearly states "using dollars is the lesser of 2 evils"
@@peterpeter8217 I am afraid I am not macroeconomist :) But rather then becoming a slave to US bankers maybe get IMF loan, launch painful but needed economic austerity programs, hire international experts to help to restructure country finances etc.
@@marcorc5167 Marco - dollars are not lesser of two evils. Argentina has to make a choice - either have a own house in a bad shape and work hard to improve it or have a nicer house which will be owned by someone else (USA)
@@bobibufi1389 We tried our own house already, this is where we are now at 150% yearly inflation. Argentinean politicians simply cannot be trusted with the money machine.
Pat, that was an excellent presentation of a summary of what has happened in Argentina. As a simple average citizen in this country, I keep posting the same message. Americans think that what happened in Argentina would never happen the United States and they are wrong about it. The government of Obama and Biden are destroying the grounds of our economy for good.
Biden taking Trump to school on the economy, lowest unemployment in years, 14 million new jobs added, higher GDP than Trump, DOW breaking records, inflation going down month after month. Biden inherited a mess from Trump and turned the economy around. And no chaos and no scandals! Joe Biden is WINNING BIG!
Every place where socialism sets its hand dies. Most South America country experiences that crap. I hope Milei wins and turn Argentina to a prosper country again.
I have a friend from Argentina who works as a teacher and the government literally does not allow people to buy dollars over 200/mo and if you buy a good online, lets say a computer game, that you can't buy with their own currency that counts toward the 200 limit.
Funny that 33% of workers in Argentina work for the state/government. In the USA if one takes into the account all the administration, bureaucracy, military, police, state schools, hospitals and all the others employed y federal, state and local authorities, one will come to about the same percentage of 30-33%. And this is the case with many other countries
meanwhile, Brazil is growing at unexpectdly rates, with the highest interest rate in the world and with almost no inflation... (also, with unemployment going down). Is it the most healthy major economy right now?
Rather than curse unsuccessful politicians, leaders, or dictators from past decades (with regard to Argentina), why not instead support and praise the efforts and success of a genuinely GOOD current president of Argentina? His background is in economics ... so he knows what he's doing. But repairing the damage could take forever if he doesn't get some serious cooperation from his detractors.
Here's the problem with us here in America also, those folks who DONT work get to vote. Think they'll vote for candidates or policies that will end their free meal ticket???
The government campaing is about how much services would cost with Milei. They say "with Milei train tickets would cost $1.100 (1,1 usd) now with us it's only $56 (0,056 usd)". Btw, a lot of people can't even pay those 5 cents, yes, that's how poor we are. So they made us so poor, people need a 95% subsidy to pay for a train ticket. And 50% of the country still think government is doing us a favour.
I really like Milei except his plan to dollarize, while their central bank has to go cause they screwed the peso, I believe there should be a new peso rather than move to dollars. Argentina doesn't have a dollar printer. While the US prints dollars like there's no tomorrow, Argentina would have to buy them to circulate. If the US Dollar keeps dropping its value due to the crazy printing and inflation keeps creeping up in the US, this problem spills over exponentially to a dollarized Argentina.
A missing detail. Peron was an influential member of the 1943 coup organized by the GOU, a group of military officers with sympathy towards Fascism, and the main reason of that coup was the fear of them about Argentina ending the Neutrality during WW2 and siding with the Allies, Peron in that military goverment was Vice President, and also Minister of Work and social security, he used that position to get the support from the workers unions, then with that support when the "democracy" returned in 1946, thanks to that support he won the presidency, and uynder his goverment Argentina became a heaven for Nazi war criminals, one thing is USA, the USSR, also UK, etc were trying to get as many German scientist and engineers who could have been nazi simpatizer or not, Peron was providing a safe haven to just war criminals.
You are absolutely correct about running a campaign that includes a reality on adjusting welfare programs. It has to be done once elected, not be a talking point beforehand.
Paaatrick,,, I love your style.! I followed u for awhile.!! This time,, as a latino girl,,, I have to ask you,,, to ASK yourself,,, WHO did provoke all of those COUPS.??? Continue...
Argentinian here, Peronism is really a lot like a religion, people who are peronists are not rational thinkers, they believe in that “ideology” mostly because it gives them identity (identity politics) also if 40% of our population is poor, and education is a mess, you think they care about statistics, GDP, public spending, defaults, bonds, etc? No, they just think you are a specalutaor because the politician of the day told them its that way. Theres no easy way out.
PaTricio ! Great resume of argentina. As an argentinean i agree w many of the msgs here. Wish you can go deepER in topics like Biden as senATor 1982 saying:"Arg" is the invasor" regarding to The falklands, AS WELL as the streets names in IRAN called: 1. Rep. ARGENTINA another one called 2. Raul Alfonsin. It will be a great to see, w your resapectable background, an episode on the bombing of israel embassy. Hope you can do it !
One thing to keep in mind- 'Peronism' is a shifting ideology- what a Peronist believes about the economy in 2023 could be different from what a Peronist thinks about the economy in 1995 or 1955 etc
We are 32 trillion dollars in debt because we've been giving out money in welfare. Numbers don't lie. All the money that payed for the endless wars. Bailing out the 2 big to fails in 2008,+bonuses, subsidies for big businesses, 6 trillion for covid, all the money for Ukraine, and if we don't completely collapse before then whatever green Initiatives and subsidies for those companies. Plus, the hotel industry and migrants. I know I'm missing some, but that's all I can remember right now from my lifetime.
I live in NY, but I pay attention to everything, and lately, I have been paying attention to Argentina. Why are Argentinians not making their way up to the US border.
