Inflation Hits 30-Year High In Argentina
Inflation Hits 30-Year High In Argentina
"Argentina registered a year-on-year inflation rate of 254.2 percent in January, the highest in 32 years, according to data released Wednesday by the National Institute of Statistics and Censuses (INDEC)"
Poorness rise to almost 58% while the president is refusing to hike the minimum wage, which is common to rise every 3 months or so even during the right wing liberal regime of Macri, but this guy FUCK NO he just signed a billion dollar subsidy to "Mercado Libre" the eCash monopoly owned by the richest Argentinean Galperin ~5 Billion of declared wealth
Are Argentinians at the finding out stage of fucking around yet?
The entire world is in the find out stage.
Yeah, we are still finding out the consecuences of the idiotic economical decisions of the prior government.
"We're going to do the exact same thing Nigeria did. But this time, it's going to work!"
"Oh no! It did the exact same thing that happened in Nigeria!"
We are doing what Ecuador did in 1998... which ended with the biggest economic crisis in 100 years in 1999
Fixing the mistakes of leftist economic policies does not happen in a few months. It might be prudent not to vote in those people every x years.
So how exactly do you think the current administration will fix those mistakes?
If we're talking specifically about inflation, stricter monetary policy, currency changes Milei has suggested, lowering the deficit, free market policies (stopping price controls for instance) should fix the situation.
If these things are successfully implemented, it should lead to increased trust in the economy, which in turn will help everyone, poor the most.
Which policies are you referring to?
- Print loads of money
- Economy goes to shit
- Implement price controls when the riots start
- Print yet more money because the core issues have not been fixed and people keep rioting
- Going to IMF cap in hand for more money with a pinkie promise to not do that shit again
- Do that shit again
- Suprised Pikachu.gif when it goes tits up yet again
Rinse and repeat every few years.
What is worrysome is the seeming practical impossibility to oust these men in power from their seats.
Violence is the great leveller.
Current technology would like to have a word.
I honestly do know what the Argentinians would have done. the previous government thought it was a bright idea to present the minister of the economy for the presidential election. A chihuahua would have sufficed to win. Instead a Goofy lion got in.
@racsol