Morning, folks! 💫
Today's news brief is - you guessed it! - on Argentina. But if you think I'm going to boggle over the far-right leader himself... maybe you've never read my work?
Don't fall for the superficial here; Milei is a terrible choice who also reflects a terrible financial reality - but not *just* for Argentina. In a world of rising debt-servicing to private creditors under neoliberalism, this won't get better until we tackle the systemic problem.
#Economics
https://onlysky.media/mclark/argentina-and-the-politics-of-desperation/
@MLClark Well done (could be so much more there as it really got me thinking of numerous current events, both private and public).
Interestingly, I'm doing some assigned prereading this AM...
How the Gherkin was pickled... (FT, 2014)
"One day someone at Harvard [or Wharton 😉 ] will probably set this as a case study of how to do very complicated financing which doesn't achieve the lenders' original objectives."
https://share.counter.social/s/080447
*link unlimited but for 24 hrs.
Thanks for reading, Merlin! I needed to get back into the news *brief* mode, but I hear you; this is a topic about which I could have written a great deal more.
(Even now, I'm listening to a podcast on private credit's surge, and I keep arguing with the hosts' tone because they're skirting around the deeper issue of industries given so much impunity to skirt regulation - and how this has been normalized as just good business.)
Thanks for the link! Hope your readings are stimulating.