Amid mounting capital flight, Argentine banks impose $10,000 cap for dollar purchases

[sandensea]

2. Polls show voters will give Macri a rebuke in mid-terms this Sunday - but it's probably too late.

Macri was very narrowly elected two years ago thanks largely to Big Media support (non-stop, Faux News-style coverage), and has ruled largely by decree since then.

Quick to use race identity politics as well, they don't call him the Argentine Trump for nothing.

My hope is that they can keep borrowing from Peter to pay Paul long enough to wind the 'bicycle' bubble down - though it remains to be seen if they even see the bubble as a problem at all.

And as you pointed out, this has happened in Argentina before:

The dictator, General Videla, and Economy Minister (and media darling) Martínez de Hoz smiling at the height of the last 'bicycle' boom in 1980. By April/May 1981 the boom went bust, leaving Argentina in a decade-long depression from which it has never fully recovered.