WATCH: Angry Protesters Chase Down Economic Minister in Argentina Because of 60 Percent Inflation

Protesters chase down Argentina's Economic Minister (Credit: Radio Genova)

Bidienflation is bad and it’s about to get worse with the falsely named “Inflation Reduction Act.” Not only wouldn’t it reduce inflation, it will cost thousands of jobs. 230 economists say it will increase inflation. The Democrats want to rush this through before the CBO finishes scoring it. But what the CBO has said so far should have given anyone pause about signing on to this thing, with the increases the CBO is indicating to the deficit.

If you thought that we had it bad with Bidenflation if you want to know how bad it can get, take a look at what’s happening now in Argentina. They’re devolving into economic chaos.

Inflation, now at 60 per cent, is forecast to hit 90 per cent by the year’s end. Fewer than half of Argentine adults have a job. There is a run on the banks, with the equivalent of $1 billion withdrawn in the past month alone.

Notoriously distrustful of the currency and the creditworthiness of banks, people have been frantically changing their devaluing pesos into cash dollars. The value of the peso on the black market has sunk by 75 per cent against the dollar since January.

I’m not an economist, but I’m just guessing that 60 percent or 90 percent inflation is not good.

Economists are blaming the government’s “profligate spending” where “half the population, receive some form of government benefit.” Now they’re finding out exactly where that leftist thinking leads. But because they are now in such desperate straits created by such spending, some of the people are demanding they spend still more. The government is split between those, including President Alberto Fernandez — who gets that is madness and wants to rein in the spending — and the leftists, like the radical Vice President Cristina Fernández de Kirchner who is willing to take the country further over the cliff and is resisting all austerity measures.

The country has gone through three economic ministers in the last month.

For much of this year Kirchner had indicated that Martin Guzmán, Fernández’s long-serving economy minister, did not have her support. Last month he quit and was replaced by Silvina Batakis, who was seen as to the left of Guzmán. She lasted 24 days before being sacked while holding meetings in the United States.

Now, they have Sergio Massa who has said that he will stop printing money that has helped to fuel the inflation but that he didn’t have any “magic.”

He was not greeted kindly when he arrived at the presidential palace to be sworn into his new job — the angry people chased his SUV down the street banging on the windows. This is what it looks like when things get totally out of control when the people have had enough of what the government has been trying to sell them.

The people screamed, “You are garbage!” at him, and his security people had to intervene to be able to get the vehicles through the people.

When you descend into leftism and you can’t stop spending, this is where you end up. This is where Democratic policies would take us. And this is just one of the many reasons why we need to vote them all out in November.

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