Our friend Ever just sent us some new images from his latest wall that was just finished on the streets of Buenos Aires in Argentina.
The talented artist brought to life another complex mural full of meaning and entitled “New Devices of Capitalism”. You will find below an in-depth explanation on the mural’s meaning:
The election of Mauricio Macri in 2015 brought about a complete change in the economic politics of Argentina. Macri dedicated his efforts to reconstructing good relations with international investors; to achieve this, he eliminated restrictions on the flow of capital in and out of the country. Argentina gained access once again to the stock market in Abril 2016, when he raised USD $16,500 million from international investors. Since then, Argentina on several occasions has tempted international investors with high returns on their bonds and with promises to gradually implement controls on the problems of public spending. However, almost just as suddenly as it began, Argentina’s honeymoon with investors ended. A high geopolitical uncertainty, the Sino-US conflict, the departure of the United States from the climate agreement, the tweets of the US president, against Turkey, the current commercial fight between China and the United States, etc. The fear of these swings caused that the money of the investors flows towards the last safe refuge: the American dollar. The fall of the currencies makes that the imported products are more expensive in Argentina, forcing the poor people to pay more for food, fuel and transport. The accumulated inflation during the term of Mauricio Macri exceeds 260%, the peso has been devalued by 360% against the dollar. Construction, commerce and industry, which account for almost half of Argentine employment, have suffered a decline of almost 40% during the eleven months of recession. In April 2018, Argentina turned to the International Monetary Fund (IMF), which in September granted Argentina the largest loan of its history: 57,000 million dollars.
Because of this context of economic recession, president Macri has been baptized with the nickname of a domestic animal: Cat, which in prison lingo means servant to the head of the prison yard. The phrase, “Cat Macri” (Gato Macri) has already become part of everyday social life in Argentina, and can be seen in graffiti, in talks, merchandising, on the internet, etc. According to the conditions signed with the IMF, in 2021 3,821 million dollars must be returned; in 2022, 18,500; in 2023, 23,000 million, and in 2024, 10,100 million. The payments of 2022 and 2023 can crush any growth in an economy whose annual GDP barely exceeds 600,000 million dollars. This work is a humble claim to the nickname that our president won and also captures the new power devices of capitalism and dependency links. The image of president Trump is from his departure by plane on his way to the G20 summit which was carried out in Buenos Aires, Argentina in December 2018, where he agreed with Xi Jinping (president of China) an end to the trade war. It would seem that this agreement was quite brief…