Down in Argentina, they have a new president, a former president who is now the vice president, and lots of economic promises that won’t be kept.
Why won’t President Alberto Fernandez and VP Cristina Kirchner succeed? The answer is that “Peronismo” does not work. It did not work before and it won’t work now, as we see in this analysis by Marcelo Duclos, a reporter for PanAm Post in Buenos Aires:
Argentina will not have an “economic plan,” but it has something similar called an “emergency economic plan,” which is nothing more than a first step in the wrong direction.After the presentation by the cabinet of Alberto Fernandez and Cristina Kirchner, the primary guidelines of an initial program to solve the problems of the legacy of Kirchnerism (2003-2015) and Macrism (2015-2019) were made public.As expected, this is the firefighter who comes to put out a fire with gasoline.
We have seen this movie before and the ending is predictable, i.e. an economic quagmire!
One of Argentina’s biggest problems is the cost of firing an employee, or one of the main reasons for unemployment, especially the young who graduate and can’t find work.
The new administration will now force employers to pay double the salary as compensation for laying off anyone. Not surprisingly, employers won’t fire, or more importantly, hire anyone.
It’s a mess and it will get messier. At the same time, the people of Argentina need to look at the culprit in the mirror. They voted for this. They fell for the demagoguery again!
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