Comment So Trump loves him (Score 0) 20
Because he was the poster child for austerity politics and right wing economics in Argentina.
Argentina went a little crazy on the rent control without building public housing. Those two things aren't compatible. If you are going to do rent control you have to back it up with subsidies or direct public housing or you're going to have supplies shortages. Which they did.
On top of that droughts have absolutely wrecked Argentina's economy because it's mostly agrarian. It's a modern agrarian economy mind you but it's still in agrarian economy and basically the entire planet is in some stage of droughts thanks to that which shall not be named least I trigger somebody here.
So this means money was getting tight and it's easy to sell people on austerity politics when that happens. Basically slash government programs and services and promise big tax cuts and the miracle of trickle down economics. It's the same playbook we've been hearing since Reagan / Thatcher. Didn't work then doesn't work now but for some reason voters are always willing to try it again...
And for a brief period Of time it looked good. Cutting the rent control got some people back into the market that had pulled inventory off the market. And it takes a little while for the cuts to government services to show up in the economy meanwhile the tax cuts made everything look good and short-term deregulation brought in some capital investment and a little tiny micro bubble.
It didn't take long though for the bubble to burst and for the shit to hit the fan and when that happened as usual the right wing tried to hold down the power anyway they could. If I remember correctly they first tried to overthrow the courts and when that didn't work I think he was plotting an actual coup.
Argentina went a little crazy on the rent control without building public housing. Those two things aren't compatible. If you are going to do rent control you have to back it up with subsidies or direct public housing or you're going to have supplies shortages. Which they did.
On top of that droughts have absolutely wrecked Argentina's economy because it's mostly agrarian. It's a modern agrarian economy mind you but it's still in agrarian economy and basically the entire planet is in some stage of droughts thanks to that which shall not be named least I trigger somebody here.
So this means money was getting tight and it's easy to sell people on austerity politics when that happens. Basically slash government programs and services and promise big tax cuts and the miracle of trickle down economics. It's the same playbook we've been hearing since Reagan / Thatcher. Didn't work then doesn't work now but for some reason voters are always willing to try it again...
And for a brief period Of time it looked good. Cutting the rent control got some people back into the market that had pulled inventory off the market. And it takes a little while for the cuts to government services to show up in the economy meanwhile the tax cuts made everything look good and short-term deregulation brought in some capital investment and a little tiny micro bubble.
It didn't take long though for the bubble to burst and for the shit to hit the fan and when that happened as usual the right wing tried to hold down the power anyway they could. If I remember correctly they first tried to overthrow the courts and when that didn't work I think he was plotting an actual coup.