Ok. Please elaborate.
Discussion
This was my first reply to Saifedean on Twitter:
I will copy for you:
"This is the problem of talking about a country where you don't live, so you only take account of numbers that really don't match with reality.
Firstly, Government deficit wasn't 4-5%, it was 15%, because we had 10% of deficit into the BCRA.
Of course, that number will never be reflected into general purpose accounts like Trading Economics.
Second, M0, M1, etc... don't reflect the monetary emission of gov.
What Milei fixed is called BASE MONETARIA AMPLIA (BMA) and is composed by:
Monetary base + remunerated passives (LEFI) + government deposits.
BMA is currently fixed at 47.7 BILLONES (Trillons in your unit system). "
I know some people who live in argentina and they are (or were) excited about Milei. However, he has definitely not done what he said he was going to do. Just like all politicians.
Sorry but thats not 100% true.
He promised make state smaller.
He is accomplishing that reducing national public employment from 340k to 285k employees.
But also their salary is growing slower than inflation.
He reduced ministeries from 18 to 8 maybe 7 soon.
He stopped a hiper inflation completely.
He achieved fiscal surplus for the first time in 20 years, but without falling into default.
He stopped completely Public construction, one of the biggest budget in our country main source of corruption. He gained a lot of enemies with that move.
He stopped completely fund to the mainstream media.
Thats the main reasonwhy they are always talking bad things about government.
He weaked our Central Bank a lot. Right now Central Bank can't set interest rate anymore.
He freezed money supply. You need to search about Monetary Base and Base monetaria amplia that was fixed to 55 trillions ARS.
And a lot of things more.
So one could argue he has done a lot of good but people are mad because he isn’t going ALL THE WAY.
Very well could be. I’ve heard positive things from Argentinians.