Argentina’s Millei drastically reduced government jobs, closed the central bank and eliminated the budget deficit resulting in the strong rebound of the peso. Where’s the negative feedback loop?
It’s probably worth noting all of excess in US government spending that needs to be cut, will create a dangerous feedback loop and likely deflationary spiral because all of those excess jobs are also spending, buying homes, eating out, traveling, spending on marketing etc. When they stop/slow down - and then require social assistance - debt as a % of gdp screams higher.
Ie - That expansion of government and regulation is a direct consequence of manipulated markets trying to stop the natural deflation in free markets but also an integral part of them - robbing more jobs from the free market, and misallocating capital everywhere.
In other words, it’s going to be messy!
The debt needs to come down first and that means money printing and much higher inflation.
Or as nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a memes so effectively “Nothing stops this train”
In either event - #Bitcoin is your lifeboat.
Discussion
However, the austerity measures have also increased poverty and hurt economic growth. Inflation remains high, and families are struggling to meet basic needs. The central bank, which hasn't been closed, moreover. has increased its foreign reserves by more than half a billion dollars, has increased dollar-denominated liabilities, and energy subsidies are expected to fall, which could lead to higher energy tariffs and inflation.
One person cannot strategically and intelligently help an economy which affects millions of peoples. Each person's, family's, community's economies are highly complex. This is why Bitcoin is so important: it frees the bottom from the presumed successful plans from the few above, which then will reflect more positively towards the wealth of the nation.
A country really is only as rich as its poorest member.