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Ep 353 - Dollars for Oligarchs, Austerity for Argentina with Daniel Kostzer

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Manage episode 518340873 series 2485830
Content provided by Steven D Grumbine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steven D Grumbine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

** Want to take a deeper dive into this podcast? Join us on Tuesday evenings for Macro ‘n Chill, where we listen to the most recent episode together. Ask questions, share your insights, or just hang with us. 8pm ET/5pm PT. Find the registration link at realprogressives.org. And while you’re there, sign up for book club. It’s not too late – there are still two more sessions in our current series. **

Trump’s “$20B for Argentina” wasn’t aid – it was a heist. Economist Daniel Kostzer joins Steve to explain. Basically it’s just same ole same ole. Milei’s government crashed the value of Argentina’s currency and jacked up interest rates, drawing in big investors looking for fast profits. Then, under pressure from the IMF and the US, Argentina opened up its financial system, letting those hedge funds cash out in US dollars and leave the country, taking the money and leaving ordinary Argentines to deal with inflation, frozen pensions, and gutted public services. The media story about soybeans and China? Simply a cover for another bailout of the rich.

Daniel describes Argentina’s inflation as a symptom of class struggle. He connects the dots between today’s crisis and a long history of U.S. financial “help” that only props up Wall Street. The conversation exposes how the global elites use debt, currency crises, and friendly politicians to extract wealth while selling it as economic stability.

The episode is a deep dive into modern imperialism, media manipulation, and class politics. It’s also a reminder, as Gramsci said, to keep the pessimism of the intellect but the optimism of the will.

Daniel Kostzer is Chief Economist at ITUC-CSI (International Trade Union Confederation-Confederacion Sindical Internacional). Much of his research is in labor economics, poverty reduction, and income distribution. Follow him: @dkostzer on X; https://www.linkedin.com/in/daniel-kostzer-884318165/

  continue reading

425 episodes

Artwork
iconShare
 
Manage episode 518340873 series 2485830
Content provided by Steven D Grumbine. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Steven D Grumbine or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://podcastplayer.com/legal.

** Want to take a deeper dive into this podcast? Join us on Tuesday evenings for Macro ‘n Chill, where we listen to the most recent episode together. Ask questions, share your insights, or just hang with us. 8pm ET/5pm PT. Find the registration link at realprogressives.org. And while you’re there, sign up for book club. It’s not too late – there are still two more sessions in our current series. **

Trump’s “$20B for Argentina” wasn’t aid – it was a heist. Economist Daniel Kostzer joins Steve to explain. Basically it’s just same ole same ole. Milei’s government crashed the value of Argentina’s currency and jacked up interest rates, drawing in big investors looking for fast profits. Then, under pressure from the IMF and the US, Argentina opened up its financial system, letting those hedge funds cash out in US dollars and leave the country, taking the money and leaving ordinary Argentines to deal with inflation, frozen pensions, and gutted public services. The media story about soybeans and China? Simply a cover for another bailout of the rich.

Daniel describes Argentina’s inflation as a symptom of class struggle. He connects the dots between today’s crisis and a long history of U.S. financial “help” that only props up Wall Street. The conversation exposes how the global elites use debt, currency crises, and friendly politicians to extract wealth while selling it as economic stability.

The episode is a deep dive into modern imperialism, media manipulation, and class politics. It’s also a reminder, as Gramsci said, to keep the pessimism of the intellect but the optimism of the will.

Daniel Kostzer is Chief Economist at ITUC-CSI (International Trade Union Confederation-Confederacion Sindical Internacional). Much of his research is in labor economics, poverty reduction, and income distribution. Follow him: @dkostzer on X; https://www.linkedin.com/in/daniel-kostzer-884318165/

  continue reading

425 episodes

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