Looks like Trump is going to turn American into Argentina!
🤣 In today's Wall Street Journal.
His fiscally laudable reforms have hurt. In February 2024, Mr. Milei
more than doubled the price of bus and train ticket prices, while a utility price reform in June was
estimated to hit middle-class families with a 155 percent rise in power bills.
Unemployment rose from 5.7 percent to 6.9 percent between the third quarter of 2023 and the third quarter of 2024, and the percentage of the Argentine population living in poverty jumped
11 percentage points, peaking at over 50 percent in the first half of 2024.
For America, acting Argentine is not a good look. Argentina is a failing country that is just now turning the corner after carrying out painful reforms. If Mr. Trump were a true reformer, he would have presented specific budget goals, put seasoned technocrats in leading positions and focused on providing value-added technical innovation. Instead, he’s taking us on the Peronist path where power politics matters more than good policy. As Argentina teaches us, 100 years of misery could follow if the rule of law is replaced by the rule of one.
It was no surprise to Argentina watchers that Trump began his term by blocking cash flows and firing workers — exactly as Javier Milei’s government started doing a year ago.
www.nytimes.com