[JavierFlores09]

> If he made such a blunder in finance which supposedly is one of his specialties just imagine how incompetent he and most of the government right now is on other matters.

This is a hasty generalization; while I agree on the fact that Milei was incompetent in promoting a memecoin as a financial instrument, that doesn't necessarily mean he is a bad economist all of the sudden, nor that the things he has done for Argentina are inherently bad, it just means he was incompetent on this matter. I am painfully aware of how divided the country is on the current government and its actions, however that doesn't invite sweeping judgments based on a single event. Criticism should be specific and supported by broader evidence rather than assuming total incompetence from one mistake.

[coffeebeqn]

How would he not be? If he did zero due diligence on this and then pitched it to his countrymen as an investment. Incredibly poor judgement no?

[seu]

And not only as an investment, but as one that can lead to the salvation of the country...

[hawk_]

Finance, Dealmaking and Economics are vastly different fields. Just because one is bad at one of them doesn't mean they can't be good at the others.

[andriesm]

It's pretty bad, but smart people do stupid things all the time. Hopefully he learns from this mistake. And as pointed out, it does not automatically make all his prior decisions bad - we can actually analyse them each on their individual merit.

[thinkingtoilet]

>while I agree on the fact that Milei was incompetent in promoting a memecoin as a financial instrument, that doesn't necessarily mean he is a bad economist all of the sudden

Worse. He's a terrible leader. Which is a bad trait for someone who leads a country.

[negamax]

You mean a very active Twitter user who is all about cutting government inefficiency didn't know repercussions of his tweet? It was up for 5 hours. By then damage was done. People with large loses have sued and are getting their money back directly from the scammers. How crazy is this

[dudefeliciano]

> that doesn't necessarily mean he is a bad economist all of the sudden

Define bad, I'm sure the insiders who made millions selling Libra at the right time don't consider him bad. If he was involved in the scam, it wasn't a bad financial decision from his point of view (just a stupid political decision). Argentinian entrepeneurs don't consider him bad. Those waiting in line at the soup kitchens probably see it differently...

[Izikiel43]

With (a previous to this event) 56% approval rating,

> Those waiting in line at the soup kitchens probably see it differently...

At least half those guys also approve of him. Thanks to his government's policies of reducing inflation and removing middlemen out of social assistance, those people can afford to sustain themselves, and poverty has gone back down to around 37% according to several private economists/universities.

[rsynnott]

I mean, there's such a thing as extending the benefit of the doubt too far, tbh. Presuming he wasn't in on it, if he's promoting stuff like this he's likely barely capable of managing his own finances, let alone a country's.