The political life cycle of Macri’s government seems to be over. It only remains to be seen how it will all end.
In the last week of March, the global capitalist crisis was expressed in the fall in value, over two consecutive days, of the most important stock exchanges in the world. Added to this is the collapse in the currencies of the so-called emerging economies and the deepening trade war between China and the United States. Although still in its early stages it is set to be a shock to the global economic system. In short, we are in the throes of a recession and are yet to witness its full extent.
On 25 September, a general strike paralysed the Argentinian economy. In a demonstration of the enormous power of the working class, public transport came to a standstill, schools and universities were shut, public institutions and banks closed and private industry ceased to function. Meanwhile, president Macri was in the US making further concessions to the IMF in a desperate attempt to get a larger bailout.