No it isn’t. Venezuela is one of the most sanctioned nations in the world.

Venezuela's economic crisis really began after oil prices fell drastically in 2014 and the west used Chavez's death/Maduro's election to increase pressure on the country via sanctions which for example made buying parts to maintain oil refineries difficult. Before that, it was doing about as well, or better (of course, failing to become independent from oil exports) compared to the other countries in Latin America.

Argentina was already in a crisis for the last ...20 years-ish, but this acceleration of the crisis happened in a week even as Milei backpedaled on some potentially damaging promises like cutting trade with China.

Venezueal is a locked country that's sanctioned to hell, Argentina is about to break incompetence records not ever seen before

And they are doing it all by themselves, no sanctions required.

Argentina isn't sanctioned at all lmao. Thinking Venezuela is a failure is exactly what the US and its allies want you to think with the ridiculous amount of sanctions. Can't have people see Socialism succeeding.

Hell no. For Argentina to look like Venezuela, inflation must be 100,000%. I wish I was exaggerating. 1 USD is 40 trillion of the old Venezuelan currency pre-Chavez, the one the government has cut 9 zeroes to hide inflation ever since.

Of course, that doesn't mean that the situation in Argentina isn't looking dire.

Argentina has been doing the venezuela way for fifteen years, WHY DO YOU THINK IT'S SO BAD NOW?

If you have never lived in a place with a DECADE of ONE HUNDRED PERCENT INFLATION PER YEAR, you should just shut up already.

That will make EVERYONE poor. No joke!

I lived in Argentina for five years. I’ve spent much time since then trying to convince people in the US that you have more rights and freedoms in Argentina. This might be changing now.