US Spends $1 Billion Stabilizing Peso, Ignores Its Own Economy
Bloomberg reports Treasury Secretary Scott Bessent has poured over $1 billion into stabilizing the Argentine peso ahead of their midterm vote. ($1 billion, mind you, for another country's currency.) This 'backstop effort' intensified just before an election, a familiar pattern of 'democracy promotion' when US-friendly outcomes are desired. One might wonder if similar urgency is applied to, say,
Flint's water pipes or America's staggering student debtcrisis. While Washington scrambles to shore up foreign currencies, vital domestic programs face constant budget battles and cuts. This isn't just about 'global financial stability'; it's about projecting influence, ensuring favorable economic alignments, and (one might cynically suggest) making sure someone, somewhere, can buy US debt. How
many American schools, hospitals, or infrastructure projects could use a billion-dollar 'intervention'?