Tucker Carlson - Ep. 23 Hyperinflation and reckless monetary policy could soon devastate the global economy. We traveled to Argentina, where it’s already happened.
Tucker Carlson examines how U.S. money printing—funding COVID checks and Ukraine aid—mirrors Argentina’s collapse, where 45 million once-prosperous citizens now endure 10% monthly peso devaluations, forcing dollar transactions for basics; 60% of children live in poverty as 75% lack formal jobs, while Milei’s anti-socialist reforms spark media backlash. The episode reveals how reckless monetary policy turns nations into economic wastelands, with elites shielding the system while millions flee. [Automatically generated summary]
But because they don't actually produce anything, they've got limited ways to get it.
They can hike taxes on the population and collect the cash at gunpoint.
That's the most straightforward way.
But it's also highly unpopular.
Voters don't like paying higher taxes.
They resent it.
So over time, most politicians in most places decide it's a lot easier to devalue the currency.
You keep the tax rate pretty much the same.
You just print more money.
At first, most people don't even notice that it's happening.
The money seems free.
This is how the U.S. government just paid for the COVID checks and the war in Ukraine and pretty much everything else that Washington has done for the past couple of decades just churn out more dollars.
You can see why it's a popular strategy.
But what happens if you keep doing it year after year?
We really ought to know.
So to find out, we flew to Argentina, a country of 45 million people on the Atlantic coast of South America.
A hundred years ago, Argentina was one of the richest places in the world.
It had everything.
Abundant natural resources, vast open spaces, a well-educated, capable European population.
Its capital, Buenos Aires, once looked like Paris, but probably richer.
You can still see remnants of that time as you walk around the city today.
But the buildings are ratty now and marred by graffiti.
Argentina is no longer a rich country.
It's one of the poorest nations in the Western Hemisphere.
Nearly half the population here lives below the poverty line.
Chicken for dinner is a luxury.
The people are still impressive.
The natural resources still exist.
But Argentina's leaders have destroyed the country by devaluing its national currency.
Argentina now has Weimar-like hyperinflation.
It takes a brick of bills to buy lunch.
Roads and bridges fall apart and nobody can afford to fix them.
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We spend more money as a country than we earn money.
They close those places down because they're this little window into reality that the government can't tolerate.
That's what a collapsing society looks like.
Everybody's moving backwards.
Nobody can tell the truth about anything.
The functions of ordinary life have to be conducted furtively, in caves.
In Argentina, the incentives are now so perversely inverted that many people decide it's not worth working.
They can make more money sitting home idle.
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because it's cheaper not to work than to work.
- Why is it cheaper not to work? - Because you have to pay a lot of taxes to the people and the unions and those sort of things are very, very expensive.
For young people in a country like this, the obvious solution is to leave, and millions have.
The future of the country slipping away forever.
What's remarkable is that's just fine with the current Argentine government and with the Western media and NGOs that prop it up and relentlessly defend it.
They're happy with the corrupt status quo.
They're thriving.
So they attack anyone who challenges the way things are currently done.
Not surprisingly, they especially hate Javier Mille.
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A ver, estamos los que laburamos, generamos riqueza.
Yo a vos no te vi laburar nunca.
Yo a vos no te vi laburar nunca.
A vos no te vi laburar nunca.
A vos no te vi laburar nunca A ver, yo creo que el gran problema argentino es un problema cultural.
It's a society that is infected by socialism.
Politicians are a kind of sociopaths who want to make us believe that we are mental invalids, invalids in every sense, because we can't live if it weren't for them.
It's destroyed the economy and families and the national spirit.
It's enriched just a few.
That's hardly a radical interpretation of events.
It's obviously true, and everybody knows that it's true.
But for daring to notice it, the stooges at Jeff Bezos' Washington Post and many other Western media outlets have denounced Javier Mille with rising hysteria.