52 sats \ 5 replies \ @Undisciplined 14 May \ on: Argentina: the mortgage trap is opening up again for more and more people econ
I'm a little confused about the situation down there. Wasn't Millei dollarizing the economy?
Are they saying inflation was 288% in dollars or in the old currency that's being abandoned?
And then, which currency are those interest rates in?
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21 sats \ 2 replies \ @TomK OP 14 May
PS: Miliei is a nice asset of the Fed
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52 sats \ 1 reply \ @Undisciplined 14 May
If they can convince other countries with failing currencies to dollarize, that could keep this bubble going for quite a while.
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21 sats \ 0 replies \ @TomK OP 14 May
Yep. New areas to dump the treasury's garbage. A bit like Tether
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21 sats \ 1 reply \ @TomK OP 14 May
Inflation was in Peso. And I assume that 99% of the mortgage market works on the Dollar.
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42 sats \ 0 replies \ @Undisciplined 14 May
Ok, 3.5 - 8.5% mortgage interest rates make a lot more sense in dollars than in Pesos.
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