And finally, the bomb exploded in Macri | The fall…

Are the City economists consultants this has legitimized all the measures of the failing macro-administration and there are the others, who have only tried to apply the principles of science to understand the development of events. The first said just a few weeks ago that the only road that led to a new terminal collapse was the only one possible. Today, they repeat the same thing, but they say the problem was that the vehicle used to travel was not adequate. It's a story as old as the end of crisis of neoliberal regimes. The fault is never attributable to the bad theory, the ideology or vulgar defense of particular interests and clbad, but to the fact that the measures were not applied thoroughly or badly applied.

In this line, a note appeared last Sunday in the London business paper Financial Times, who badumed the costs of sending two journalists to Buenos Aires. The article reproduces the species Urbi and orbi and it will surely bring up the line that will be followed by local consultants who will fail (not economically, of course). According to the historical interpretation being built, the fault was first with progressivism, then with the fact that the IMF was described as "too late". Of course, the post-WWTP panic was not due to the exhaustion of the model, but to the disturbing return of populism. Says badly and soon, "consumes their own."

Gradualism was a marketing invention to justify the absurd debt in foreign currency. During his time, cost reduction and destruction of state functions never stopped. The IMF arrived before the most pessimistic forecasts. But the synthesis described for global consumers is quite eloquent, the problem was not orthodox dogmatism, but its so-called low dose. The problem was not that the IMF plan was not even used to stabilize the macroeconomy, but that it was applied too late. Finally, the problem was not that the serial borrower model was exhausted, but that those who were still paying the debts would come back. The arguments of the scribes of financial power seem to be a joke, but they are written seriously.

The reality is that no special intelligence or knowledge was needed to warn that, from day one, the Second Alliance, which marked the return of almost all those who joined the first and caused the collapse of 2001 -2002, began to progress in the world. the opposite direction to the needs of the local economy in December 2015. Faced with the main problem of the deficit, which was to generate the necessary currencies to continue the process of social inclusion, recourse to unbridled debt was taken. But not only that, but at the same time, all the regulations on capital movements have been eliminated and, as if that were not enough, the obligation to liquidate currencies has also been eliminated. In other words, while leaving thea new debt is recycled on the go, future demand for foreign currency has increased while future supply has been voluntarily reduced. The course was towards an inevitable collision. It was known that the accident would occur as soon as possible, but without a crystal ball, it was impossible to anticipate the exact date. We know today that the collapse began to manifest in April 2018, with the closing of external markets. Already, with the IMF inside and deepening the adjustment, the most honest question we could ask was "Does it explode before or after December 10th?"No matter which side you are going to watch Does it explode or explode on us?

We broke into Cambiemos and in the fall, there was no longer a flag standing.. The sequence was terrible: mega debt, mégaévaluation, default start and exchange control. All this in record time and after receiving an indebted economy. To graphically represent the macro experience, the reader can imagine that it gives him the right to run a healthy business and that it makes him super-indebted, with a negative net worth, bankrupt, with half of the machines arrested and with fewer workers.

There is no point in causing the sequence of measurements to be produced after the badumption of Hernán Lacunza treasure It can be said that the government ran after the events, which have just acted after the drying up of more than $ 12 billion of reserves after the OSP, and with the collapse of the shares and Sovereign bonds and no floor, but the reality is that of the ruling party There was no other alternative. "Reperfilamiento" and exchange control were inevitable measures to prevent a major collapse of unforeseen consequences, as a banking operation was launched late last week.

Maybe this time the Argentine society is finally learning that take care of rare dollars must always be a economic policy objective. Maybe the current one neoliberal relapse to be the last But that should not be excited. It is better to go back to work against false interpretations. Until recently, the ideologues of the current failure claimed that we were facing the "third attempt to modernize the Argentine economy" after the dictatorship and the 90s. This is not a chance if everything is finished as before. Barely subtracted do you expect the third to be the charm.