Argentina: A very Trumpy debacle
"Some U.S. hedge-fund billionaires, personally close to Bessent, bet big on Milei and bought Argentine bonds. The bailout package almost surely won’t succeed in turning Argentina’s economy around and probably won’t rescue Milei politically. But it may buy enough time for Bessent’s buddies to get much of their money out before the bottom falls out of the Argentine economy."
Crony capitalism at its best.
https://paulkrugman.substack.com/p/america-first-no-billionaire-buddies
