tintoryArgentina Lifts Wages, Welfare in Defiance of IMF Austerity Push
elouboubFuck austerity. It doesn't work and the IMF should fucking stop pushing for it.
(it only works to fuck up countries)
the IMF should fucking stop pushing for it.
it only works to fuck up countries
This assumes the IMF is not structurally designed and intended to fuck up countries.
Feature, not bug.
Yet Argentina had destroyed their economy for 25 years because they won’t act responsible and institute policies of austerity. This just keeps happening to them.
Other countries in the same bed that have ignored austerity policy, Venezuela, Zimbabwe, Sudan…
So ya it is actually a necessity unless your fine with triple digit inflation year after year.
According to a 2020 study, austerity increases the risk of default in situations of severe fiscal stress, but reduces the risk of default in situations of low fiscal stress.
https://en.wikipedia.org/wiki/Austerity#Empirical_considerations
Hammer, see nail.
