At least now, their currency isn't being constantly debased, and the savings of ordinary argentinians aren't being inflated away into the hands of an irresponsible government.
Many people really are much worse off right now. It has to be taken on faith that this is a short term suffering that will pay off later.
> The country’s poverty rate soared 11 points in the first half of 2024 to 53 per cent.
To end a period of recession or stagnation, governments almost always have to cause unemployment (or respond to natural unemployment) to force people to change jobs.
This is why Chairman Volcker is remembered so villanously and President Reagan is lionized.
Volcker ended stagflation under both Carter and Reagan by dramatically raising interest rates for a few years.
This led to 11% unemployment, but once folks had found new jobs Reagan was able to preside over an era of strong growth.