[-] [email protected] 1 points 1 hour ago

The devaluation part is a bit more complicated. There are legitimate reasons for a country to want to devalue its currency. Yes on the one hand it can be considered exploitative because it cheapens exports and allows western countries to get global south goods for cheaper.

But the imports part is a bit iffy. The thing is the 'well off' within these countries import a ton of high value added luxury goods from the west. Sure, the country gets the good but the foreign currency could instead be used to purchase capital goods (tractors to mechanize farming for instance) that increase domestic productive capacity. By fixing the exchange rates, the Government is using publicly owned foreign currency reserves to subsidize such consumption. Yes there are alternate ways a country can prevent this such as import duties or trade restrictions but people often find ways around such restrictions. By not fixing exchange rates or widening the range, the state can prevent the private sector from using state resources to subsidize their consumption or capital flight. The state can still use price controls, subsidies or provide favorable exchange rates to state owned companies.

Of course, many a times these countries are forced to devalue not because of any trade pressures but because of capital flight or excess external debt. IMF comes in and forces the country to devalue rapidly instead of in a controlled manner which would have allowed the country to adjust better, remove price controls on essential goods like fuel, privatize & cut Government spending in general.

[-] [email protected] 9 points 3 hours ago

They turned Gigachad into Jesus noooooo ooooooooooooooh

^ Someone made this exact same image for Facebook back in 2013 without AI.

[-] [email protected] 4 points 5 hours ago

its 'decentralized' copium

[-] [email protected] 28 points 6 hours ago* (last edited 4 hours ago)

Reform UK + Conservatives got 38% of Total Votes vs 33.7% for Labour.

Reform UK + Conservatives got 19.4% of Total Seats vs 63.2% for Labour.

So much democracy.

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[-] [email protected] 23 points 1 day ago

Israel can't even defeat Hamas...

[-] [email protected] 45 points 1 day ago

come on, don't forget the oil man no-oil

[-] [email protected] 4 points 2 days ago
[-] [email protected] 30 points 2 days ago

Lawful "following orders" Germany

[-] [email protected] 32 points 2 days ago

I have a suggestion for blahaj libs (and libs in general), give $1000-2000 to anyone who votes.

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  1. Biden dies, no more age issues

  2. Democrats are forced to run literally anyone else, yes including volcel-kamala

  3. Democrats gain popularity as Republicans are seen as extremists even by the 'apolitical' people.

  4. Four more years of neoliberalism, no pressure to stop aid to Ukraine.

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this is the mod

https://steamcommunity.com/sharedfiles/filedetails/?id=3215078236

it allows you to set whatever tax rates on specific things (dividends, land etc).

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Looking into it. (hexbear.net)
submitted 1 week ago by [email protected] to c/[email protected]

billionaire-tears

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IMF L

Ruto said he would now start a dialogue with Kenyan young people, without going into details, and work on austerity measures – starting with cuts to the budget of the presidency – to make up the difference in the country’s finances.

Yeah Argentina is doing great because of austerity.

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FuckyWucky

joined 1 year ago