Wednesday, May 6, 2020

government can't save us all

Like in many other countries we are still in full lockdown since march 20, many small bussiness are going bankrupt because the government won't open the economy even though we have fery few cases of coronavirus, there are promises of financial aid but nothing happened so far and the government can't save us all, our national debt is HUGE and we're almost in default, we have no gold or silver reserves so we depend exclusively on US dollars that are very scarce right now and in this situation no one will give us additional credit, since people can't pay taxes anymore our central bank is printing tons of money that nobody wants because our currency is very devaluated so people refuses to save in pesos. For decades we've used dollars as a safe heaven (1 dolar = 120 pesos which is a lot right now), and add that to the fact that no goods and services are being produced (except fot food) so our money is worthless.

No comments:

Post a Comment