The 118th Session? Yeah, we don't even have a parallel in all of the history of the US to mark how unproductive this session has been. Like not even during the Civil War was Congress this underwhelming. The 118th Session has set a new low water mark for "things gotten done".
The biggest issue was that the House spent something like ~60% of their time in Committee doing "investigations" that ultimately led nowhere. Like, I'll throw Congress a bone here, if they actually impeached someone with all those investigations, I'd give it to them. But that literally nobody was impeached all those investigations basically go into the "wasted time" column.
And they can't impeach any of them come the 119th session because... New President, new people. So all that time they invested goes to waste. Hell, even Hunter I can't give it to them, because in the end, he got a pardon. And as soon as Trump gives the J6 folks a pardon, all that work the Democrats did becomes wasted as well.
But the 118th spent the vast majority of their time in investigations, so they got so little actually done and passed.
Freezing investment into the country and nuclear grade austerity will always bring inflation to an almost stand still. You're literally tossing liquid nitrogen on your economy, it's absolutely going to freeze.
And this is the key aspect that usually makes people who consider this pause for a second. Because freezing your economy might solve the right now problem, it also has the ability to ice economic activity completely, triggering an economic depression. This is the "balance" so to say. The harder your freeze, the more you'll need to rewarm the markets to get your economy going again.
This has always been the super tricky part of the weapons grade austerity. The what comes after part. So Milei has done it, he's cooled the markets and supply has nearly cratered in the country. The next steps is to get production back and start pesos in the country to start flowing again.
I've always been a bit irresolute about Milei's approach on the economy. I'm not against it, it's just a strategy that's playing with fire in a gun powder factory. First and foremost, I hope that the people in Argentina find economic stability, because boy do they deserve it. So to that end I hope WHOEVER succeeds in getting that done. And second, I really hope this is something that can be long lasting. Hyper austerity has a history of bad boomerang effects. It can work, it's just takes a ton of work, more than most governments are willing to invest. And so there's a big chance that we could start to see some positive only to then watch it completely crumble once again.
If I was a leader, this isn't exactly a strategy I would pick. There's just a ton of places where it can go all wrong. But I hope the guy gets it fixed once and for all. But dang, I don't know how dude is smiling in that photo because if I was going down this road I wouldn't be able to sleep properly.