Argentina's Economic Catastrophe: How Bad Policies Destroyed a Once Rich Country

Argentina has had staggering inflation rates, multiple stints with debt defaults, and is a massive welfare state. We're tracing the factors that pushed this once-prosperous nation to the brink.

And now, with a presidential candidate advocating for full dollarization, Javier Milei, the future of Argentina's economy hangs in the balance. Will dollarization be the saving grace or another misstep in a long line of bad economic policies?

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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

[alexander]

Argentina has fantastic geography and natural resources. It should be a rich country if it was run properly

[iggswanna]

incredible how the decisions of a few affect the lives of millions.
and the millions allow that, in every system in the world.

[NewZeroGames]

Argentinian here, this video is on point. Surprising how informed he is and the amount of valuable information on such a short time.

[bradleylau]

Im in Argentina now for a few months and with my American Dollars, life here is great because of the exchange rate. Most things are really cheap in comparison to the USA. When I tell any locals Id love to live here permanently, they all open their eyes super wide and shout, EVERY LAST ONE! A shame. It is a beautiful country with so many different landscapes. The city of Buenos Aires, the desert like conditions and mountains of Jujuy, the glaciers in Patagonia, the falls in Iguazu to name just a few.

[TheEsteban]

After 22 years in USA I moved back to Argentina. If you have US dollars income Argentina is awesome!! Beautiful country, friendly people, great food beautiful lady's.
It sucks for 40%+ of poor citizens, 3 of 5 kids live in poverty, horrible place to own a business. I did a good job being disciplined for 20 plus years in USA NOW I can enjoy a financial worry free life in a beautiful country.
With my income in USA I would be a shacking middle class, In Argentina I feel I am @PBD.

[lucky_luciano]

As an Argentinian, thank you for this video, and I couldn’t agree more with you sir.

[jessicawesbond]

The US economy too, is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[jakelong]

It’s so frustrating because it’s such an easy fix but everyone wants stuff for ‘free’ and politicians only want power.

[DragonNo]

As an Argentinean I attest that this was a good summary of Argentina's economy. Many of us look forward to select Javier Milei as the future president. One last thing: the welfare state is not only a mistake, in the long run it becomes a crime because it impoverishes the entire population of a country.

[yoannaaybar]

Study Peru, it has low inflation. Peru also had hyperinflation in the 90’s and changed currency two times. A president called Fujimori won elections pretending to be leftist but once in power he implemented right wing policies and turned the country around. A case study for America 👍

[cheepalma]

I’m from Brazil. You can explain that until you’re blue in the face and no one will listen. They are taught growing up to value what’s wrong economically. I walked out in 2009 and never looked back.

[mavricxx]

Damn shame and scary at the same time because we're headed in the same direction. Even here, they keep adding programs like paying student loans and not cutting programs.

[ambition]

0:12: 🇦🇷 Argentina had five presidents in 12 days in 2001, causing economic turmoil.
3:43: 📉 Argentina's inflation crisis: From 25-30% in January 2018 to 100% today, with a historical peak of 3000% in the late 80s.
7:10: 💰 Argentina's history of economic crises and debt defaults.
10:24: 💰 Argentina's subsidies for electricity and agriculture are burdensome for workers and lead to price controls and inflation.
14:29: 💵 Argentina's leading presidential candidate is campaigning on the idea of dollarizing the economy to stabilize inflation and preserve wealth.
Recap by Tammy AI

[manny-quintero]

The saddest part about crumbling economies is that as the prices go up, the income stays the same. I was there less than 12 months ago and the dollar value was $1 dollar to $300 pesos. Now they are above $800 pesos per dollar.

[marcelsusanto]

“There were four types of countries: developed, underdeveloped, Japan, and Argentina.”
-- Simon Kuznets

[mdog]

Glad you’re talking about my country! it’s sad to think that we are a country that has the power to feed 400 million people, meanwhile 1 of 4 kids in the country don’t have any food, and everything it’s because of the shady, greedy and corrupted politicians that we have.

[brookeceron]

Welfare actually creates poverty. You can’t make enough to replace your benefits before you lose them, incentivizes you to keep your income low. They should do a ticket to work program. Allow people to keep their full benefits for a year if they get a raise. Allows people to build a nest egg and prepare to be financially stable. You can’t touch social security. All income, at all levels, no cap, should pay into it. We need to cut defense spending. Period. They need to force venture capitol out of the housing market.

[marcelofabrega]

Viva la libertad carajo! Let's go Milei

[sachagoytia]

I'm from Argentina. Been following your channel since 2018. Thanks for showing this.

[JuanMorales-ghjp]

Honestly, PBD network is going to be the greatest media outlet of the history of humans.