133

A reminder that as the US continues to threaten countries around the world, fedposting is to be very much avoided (even with qualifiers like "in Minecraft") and comments containing it will be removed.

Image is of smoke rising after Iranian missiles impact a US military site in Bahrain.


My weekly preamble is in spoiler tags below.

preambleAfter a few weeks of both diplomatic and military manuevering - mostly over Iranian control of Hormuz - we have hit the hottest phase of military exchanges since at least the MoU period began. The US has generally focussed on striking southern Iran, although they have also sporadically hit transportation infrastructure elsewhere, which was repaired in less than 24 hours. Meanwhile, Iran has struck a wide range of targets, with an interesting focus on Jordan, but has, up to the time of me writing this, so far relented on striking the Zionist entity. The US and Iran have had little periods of mutual military strikes during the "ceasefire" before, and so it's hard to tell for sure whether this yet another temporary spat or if it represents a full return to the pre-ceasefire conflict.

A complicating factor in this conflict is that Ansarallah has become increasingly active, and seems eager to start to break the siege it has been put under by threatening to attack Saudi Arabia and Saudi-aligned forces. This has put Iran in a somewhat awkward spot. On the one hand, it has greatly helped Ansarallah resist foreign attackers and has even recently sent civilian airplanes into Sana'a to begin to break the siege. On the other hand, Iran has, with China's help, generally desired to improve its relationship with the Saudis over the years. While in this latest war there have been a major dispute between them over whether Iran is "allowed" to strike US military infrastructure located in Saudi Arabia, the Saudis strike me as considerably less anti-Iran as the UAE, let alone the Zionists, and did send a delegation to Khamenei's funeral. I guess we'll just have to see what happens next, but I strongly suspect that Iran is going to help Yemen over the Saudis.

And finally, Lindsay Graham has died of a sudden heart attack a suspiciously short time after visiting Ukraine. He was a true enemy of civilian populations all the way to the end of his life, and he seemed to particularly despise children. He advocated for using nukes against Gaza and the total annihilation of anybody and everybody who had even the meekest criticism of Zionism. If God (and, more pertinently in this case, Satan) does exist, I hope Graham is extended the exact same level of courtesy and respect in the afterlife that Graham extended to all Palestinians.


Last week's thread is here.
The Imperialism Reading Group is here.

Please check out the RedAtlas!

The bulletins site is here. Currently not used.
The RSS feed is here. Also currently not used.

The Zionist Entity's Genocide of Palestine

If you have evidence of Zionist crimes and atrocities that you wish to preserve, there is a thread here in which to do so.

Sources on the fighting in Palestine against the temporary Zionist entity. In general, CW for footage of battles, explosions, dead people, and so on:

UNRWA reports on the Zionists' destruction and siege of Gaza and the West Bank.

English-language Palestinian Marxist-Leninist twitter account. Alt here.
English-language twitter account that collates news.
Arab-language twitter account with videos and images of fighting.
English-language (with some Arab retweets) Twitter account based in Lebanon. - Telegram is @IbnRiad.
English-language Palestinian Twitter account which reports on news from the Resistance Axis. - Telegram is @EyesOnSouth.
English-language Twitter account in the same group as the previous two. - Telegram here.

Mirrors of Telegram channels that have been erased by Zionist censorship.

Russia-Ukraine Conflict

Examples of Ukrainian Nazis and fascists
Examples of racism/euro-centrism during the Russia-Ukraine conflict

Sources:

Moon of Alabama, which tends to have interesting analysis. Avoid the comment section.
Understanding War and the Saker: reactionary sources that have occasional insights on the war.
Alexander Mercouris, who does daily videos on the conflict. While he is a reactionary and surrounds himself with likeminded people, his daily update videos are relatively brainworm-free and good if you don't want to follow Russian telegram channels to get news. He also co-hosts The Duran, which is more explicitly conservative, racist, sexist, transphobic, anti-communist, etc when guests are invited on, but is just about tolerable when it's just the two of them if you want a little more analysis.
Simplicius, who publishes on Substack. Like others, his political analysis should be soundly ignored, but his knowledge of weaponry and military strategy is generally quite good.
On the ground: Patrick Lancaster, an independent and very good journalist reporting in the warzone on the separatists' side.

Unedited videos of Russian/Ukrainian press conferences and speeches.

Pro-Russian Telegram Channels:

Again, CW for anti-LGBT and racist, sexist, etc speech, as well as combat footage.

https://t.me/aleksandr_skif ~ DPR's former Defense Minister and Colonel in the DPR's forces. Russian language.
https://t.me/Slavyangrad ~ A few different pro-Russian people gather frequent content for this channel (~100 posts per day), some socialist, but all socially reactionary. If you can only tolerate using one Russian telegram channel, I would recommend this one.
https://t.me/s/levigodman ~ Does daily update posts.
https://t.me/patricklancasternewstoday ~ Patrick Lancaster's telegram channel.
https://t.me/gonzowarr ~ A big Russian commentator.
https://t.me/rybar ~ One of, if not the, biggest Russian telegram channels focussing on the war out there. Actually quite balanced, maybe even pessimistic about Russia. Produces interesting and useful maps.
https://t.me/epoddubny ~ Russian language.
https://t.me/boris_rozhin ~ Russian language.
https://t.me/mod_russia_en ~ Russian Ministry of Defense. Does daily, if rather bland updates on the number of Ukrainians killed, etc. The figures appear to be approximately accurate; if you want, reduce all numbers by 25% as a 'propaganda tax', if you don't believe them. Does not cover everything, for obvious reasons, and virtually never details Russian losses.
https://t.me/UkraineHumanRightsAbuses ~ Pro-Russian, documents abuses that Ukraine commits.

Pro-Ukraine Telegram Channels:

Almost every Western media outlet.
https://discord.gg/projectowl ~ Pro-Ukrainian OSINT Discord.
https://t.me/ice_inii ~ Alleged Ukrainian account with a rather cynical take on the entire thing.


you are viewing a single comment's thread
view the rest of the comments
[-] Redcuban1959@hexbear.net 72 points 6 days ago

The Argentine peso hits a historic low against the dollar after a 99.8% plunge - Yahoo Spanish

Article

The Argentine peso reached a new all-time low against the US dollar: the currency has lost an astonishing 99.8% of its value since 2009.

Next, we'll discuss what explains this decline, how it impacts Argentinians, and what's needed to reverse it.

Why did the Argentine peso register a new all-time low against the dollar?

A record low is the lowest level a currency reaches against another throughout its entire trading history. The Argentine peso hit that point against the dollar, marking one of the biggest currency collapses in modern economic history.

The monthly chart for the ARS/USD pair shows a near-vertical decline over the years. In 2010, 1 dollar was worth just over 3 pesos. Today, the official exchange rate is around 1,480 pesos per dollar, although the parallel market typically shows a wider gap.

This devaluation is not an isolated event. On the contrary, it results from recurring cycles of uncontrolled monetary expansion to finance fiscal deficits. Furthermore, capital controls and the loss of international reserves have exacerbated the currency's deterioration.

The administration of Javier Milei, which began in December 2023, implemented a strong orthodox adjustment. It cut public spending, eliminated subsidies, and carried out an initial devaluation . As a result, monthly inflation fell from hyperinflationary levels to more manageable figures.

However, the two-year chart reveals that depreciation continued, albeit at a more moderate pace. The currency remains under pressure from the gap between inflation and the exchange rate. Furthermore, the need to accumulate reserves continues to put pressure on the peso.

How does this downturn affect Argentina's economy?

The loss of value directly impacts citizens' wallets. For Argentinians, it means a constant erosion of the purchasing power of wages and savings in pesos. Furthermore, many families are seeing their incomes rapidly disappear.

This scenario is driving the informal dollarization of the economy. As a result, many prefer to hold physical dollars or cryptocurrencies like stablecoins as a hedge. Businesses, meanwhile, face enormous difficulties in planning long-term investments in such an uncertain environment.

Internationally, such a weak peso makes imports more expensive , complicating trade relations and impacting part of the external debt. Argentina, rich in soybeans, lithium, and gas, sees its ability to attract foreign investment limited by exchange rate risk.

Experts agree that a profound structural reform is needed. This includes permanent fiscal discipline, central bank independence, and trade liberalization. Only in this way, they argue, can the cycle of crises that has plagued the country for decades be broken.

Meanwhile, the peso's record low serves as a global reminder. Although the government averted an immediate collapse, the road to stability remains long. Recent history illustrates how a currency's fall impacts the daily lives of millions.

[-] Redcuban1959@hexbear.net 64 points 6 days ago

BTW Theres literally zero news about this in English. I vaguely remember when the SocDems/Peronists were in power there was always news updates about the Economy in Argentina, is the US media still trying to sell Milei's goverment as an example?

[-] Rojo27@hexbear.net 11 points 6 days ago

Feels like they aren't, but I'm also not constantly checking on the news. There's only so much propaganda you can do, although the average American probably isn't going to fact check news on Argentina (hell Americans don't even really fact check news on their own country).

I've seen some Argentines and LA on social media still pushing the Milei miracle bullshit though.

[-] plinky@hexbear.net 4 points 5 days ago

because if you look at real graph (pesos in dollars), it’s not too unexpected as it’s been thereabouts for half a year (and i heavily suspect they are dumping dollars from swap into forex at 1500, when it crashes past through when dollars run out, and goes to 2000 i suspect it will become newsworthy, maybe)

[-] hello_hello@hexbear.net 25 points 6 days ago* (last edited 6 days ago)

La pérdida de valor golpea directamente el bolsillo de los ciudadanos. Para los argentinos, significa una erosión constante del poder adquisitivo de salarios y ahorros en pesos. Además, muchas familias ven cómo sus ingresos se licúan con rapidez. (the loss of value directly hits the pockets of the citizens. For Argentinians, it means a constant erosion of spending power and savings in pesos. Moreover, many families see how their incomes depreciate rapidly).

Yeah, if people can't save money then isn't there very little point in them buying into the current political economy? innocence

Como resultado, muchos prefieren guardar dólares físicos o criptomonedas como stablecoins como protección. Las empresas, por su parte, enfrentan enormes dificultades para planificar inversiones a largo plazo en un entorno tan incierto. (As a result, many prefer to save physical dollar bills or cryptocurrencies such as "stable coins" as protection. Businesses, for their part, face enormous difficulties in planning investments in the long run in such an uncertain environment).

Mi hijo, your family's fortune is in this bored ape NFT, make sure not to lose it. bazinga. The IMF bailout from last year has done nothing to restructure the economy besides inject cash upwards and impoverish the working class.

[-] Evilphd666@hexbear.net 22 points 6 days ago

And when the "stable coin" is pegged to a failing empire undergoing hyperinflation.....

[-] plinky@hexbear.net 25 points 6 days ago

did they run out of swap money? it seems bouncing near 1500 pesos for half a year

[-] Lovely_sombrero@hexbear.net 11 points 6 days ago

Swap money was "only" $20 billion, IIRC.

[-] plinky@hexbear.net 7 points 6 days ago

didn’t they double it? or they just floated doubling it?

[-] Feed_el_Castro@hexbear.net 17 points 6 days ago

This devaluation is not an isolated event. On the contrary, it results from recurring cycles of uncontrolled monetary expansion to finance fiscal deficits

This is kinda bullshit neoliberal economics though. Inflation doesn't result from monetary expansion, the EU and the US had massive monetary expansion between 2008 and 2020 with very contained inflation.

Experts agree that a profound structural reform is needed. This includes permanent fiscal discipline, central bank independence, and trade liberalization

The solution surely is MORE neoliberalism and austerity, that's worked GREAT everywhere it's been applied. Fuck the priest class called economists

[-] woodenghost@hexbear.net 6 points 6 days ago

Inflation results from capitalists deciding to raise prices in order to increase profits. Both the housing crisis and COVID monetary expansion resulted in increased financialization. It did not end up in the pockets of everyday people. Therefore, consumers would not actually have been able to pay much higher prices, so capitalists decided not to raise them much higher (though there was inflation). If the mass in circulation actually increased significantly, Inflation could not be contained by the burgoise state (that's a wrong assumption by MMT), only by capital.

[-] Feed_el_Castro@hexbear.net 8 points 6 days ago

Inflation results from capitalists deciding to raise prices in order to increase profits

Also from supply shocks but yeah

Both the housing crisis and COVID monetary expansion resulted in increased financialization. It did not end up in the pockets of everyday people

This is mostly false because it assumes that public expenditure is just "creating money and giving it as handouts", as opposed to "investment in sectors of the economy which raises production and has the potential of increasing supply of goods and services". E.g. public expenditure in mass social housing programs has the effect of driving housing prices down. You can also observe the reverse phenomenon, where European countries performing austerity policy in healthcare and education have led to big increases in expenditure per capita in healthcare and education due to the private sector profiteering from a previously largely public sector.

If the mass in circulation actually increased significantly, Inflation could not be contained by the burgoise state

The bourgeoise state chooses not to do it but it does have the power, for example through outright price capping. Minor examples of bourgeois democracy doing this could be for example Spain capping the prices of facemasks to 0.6€ during COVID, which lowered inflation without affecting supply because there was still plenty of profit to be made.

[-] woodenghost@hexbear.net 3 points 5 days ago

E.g. public expenditure in mass social housing programs has the effect of driving housing prices down.

Yes, but this wasn't done in these instances 2008 and 2020, was it?

Otherwise I agree. A socialist state could do a lot of good.

[-] Feed_el_Castro@hexbear.net 3 points 5 days ago

Yeah yeah I'm not arguing that bourgeois states WILL do that, of course they won't and the only country where we see housing prices drop is China. I'm arguing that the fact is states do have the power to do so and they simply choose not to because it benefits the profits of the rentier class, and it's an important distinction to make IMO because it directly puts the blame on the ones who are to blame

[-] woodenghost@hexbear.net 3 points 5 days ago

Yes, you're right

this post was submitted on 13 Jul 2026
133 points (100.0% liked)

news

24826 readers
551 users here now

Welcome to c/news! We aim to foster a book-club type environment for discussion and critical analysis of the news. Our policy objectives are:

We ask community members to appreciate the uncertainty inherent in critical analysis of current events, the need to constantly learn, and take part in the community with humility. None of us are the One True Leftist, not even you, the reader.

Newcomm and Newsmega Rules:

The Hexbear Code of Conduct and Terms of Service apply here.

  1. Link titles: Please use informative link titles. Overly editorialized titles, particularly if they link to opinion pieces, may get your post removed.

  2. Content warnings: Posts on the newscomm and top-level replies on the newsmega should use content warnings appropriately. Please be thoughtful about wording and triggers when describing awful things in post titles.

  3. Fake news: No fake news posts ever, including April 1st. Deliberate fake news posting is a bannable offense. If you mistakenly post fake news the mod team may ask you to delete/modify the post or we may delete it ourselves.

  4. Link sources: All posts must include a link to their source. Screenshots are fine IF you include the link in the post body. If you are citing a Twitter post as news, please include the Xcancel.com (or another Nitter instance) or at least strip out identifier information from the twitter link. There is also a Firefox extension that can redirect Twitter links to a Nitter instance, such as Libredirect or archive them as you would any other reactionary source.

  5. Archive sites: We highly encourage use of non-paywalled archive sites (i.e. archive.is, web.archive.org, ghostarchive.org) so that links are widely accessible to the community and so that reactionary sources don’t derive data/ad revenue from Hexbear users. If you see a link without an archive link, please archive it yourself and add it to the thread, ask the OP to fix it, or report to mods. Including text of articles in threads is welcome.

  6. Low effort material: Avoid memes/jokes/shitposts in newscomm posts and top-level replies to the newsmega. This kind of content is OK in post replies and in newsmega sub-threads. We encourage the community to balance their contribution of low effort material with effort posts, links to real news/analysis, and meaningful engagement with material posted in the community.

  7. American politics: Discussion and effort posts on the (potential) material impacts of American electoral politics is welcome, but the never-ending circus of American Politics© Brought to You by Mountain Dew™ is not welcome. This refers to polling, pundit reactions, electoral horse races, rumors of who might run, etc.

  8. Electoralism: Please try to avoid struggle sessions about the value of voting/taking part in the electoral system in the West. c/electoralism is right over there.

  9. AI Slop: Don't post AI generated content. Posts about AI race/chip wars/data centers are fine.

founded 6 years ago
MODERATORS