by Martin Armstrong, Armstrong Economics:

President Javier Milei has done an excellent job of restoring Argentina by removing useless government agencies that produce nothing. Milei, who has called the government “a criminal organization,” recently laid off an additional 24,000 public sector workers. There were 341,477 people in the public sector on government payroll when Milei took office, and his aim is to eliminate 70,000 needless positions.

Referred to as the “gnocchi” after the Italian pasta dish that is commonly served on the 29th of the month, the same day as payday, are the individuals in Argentina on the government payroll who do absolutely nothing. They were installed by politicians in exchange for favors. Critics claim he is firing at random, but the Milei Administration has assured the public that selecting those who will be laid off will be an “extremely surgical task, done so as not to make mistakes.”