We were actually expecting a higher number and milei has been on the office for aprox a month. Shit is going to get really serious in the incoming months
All Major economic newsletters consultants predicted extremely high values for December, like iprofesional, they were aiming for December inflation number to be 50%. El crónista, 35 % and up. Many banks going from BBVA to Santander, 40% and up.
Having 25.5% is actually amazingly good results with the car wreck the guy got.
Sadly, as economies crash, it takes years, if not decades to repair the damage. Quick fixes or radical changes often just make the problem worse.
It’s one of the reasons why Greece is starting to improve after so long in the shit. Their workforce switched to other, stable industries, and due to a mixture of COVID and the global economy dropping, they found themselves finding some semblance of normality.
All economies are different, but Argentina will need to strip away the bullshit, and focus on building something that’ll last, with the resources they have. Sadly (and probably rightly so), telling people that the formative years of their lives will be full of unemployment, crushing debt, and no savings to take them into retirement while their kids may have a better outcome isn’t a vote winner
and even if it was, the next election could undo absolutely everything.
Milei has been pretty open about their policies… Unfortunately Argentina’s economy is a dumpster fire and neoliberal asshats have been driving it further into the ground. You can think of Argentina’s election of Milei as a hail mary… But an extremely I’ll advised one.
When you’re desperate even insane radical change can seem better than the status quo.
-cut useless government spending on extremely corrupt practices that permeate all public spending in the country to save money
-reduce spending as the previous economy ministry/presidential candidate left the country reserves in ruins spending 15 thousand millions USD in only 6 months just to try to buy the campaign and still lost.
-rebuild the country’s monetary reserves by auditing spend.
scrap necessary government functions (like environmental oversight) for short term savings
remove restrictions on foreign investment
It’s a mixed bag with Milei, some ideas are reasonable, some are hard to imagine how they’ll be feasible, some are dumb… And a few are attributed to his dead dog.
Narco communist government stopped all free trade and got loans to give many people the dole while selling ports and land to China on the cheap.
GASOLINE is subsidized for many billions usd a year while they don’t even have any crude…
It’s sooooo many ridiculous laws that stop progress.
NOW CHANCE IS UNDER WAY. HE IS THERE ONLY SINCE LESS AS A MONTH AGO.
All the news the people here in the comments are repeating (without source) IS LEFTISH PROPAGANDA. plz find a real source towards argentinas recent history. There are great easy to understand YouTubes of renowned tubers. Have fun.
Argentina and Ecuador will WIN AGAINST ORGANIZED NARCO CORRUPTION! FREEDOM WILL PREVAIL. THE GOOD PEOPLE ARE MORE.
Argentina’s annual inflation rate sped past 211% in December
He only assumed office in December. I think he is a whacko but expecting him to have a major change in inflation immediately is a bit ridiculous, don’t you think?
He’s a wacko for religious and gay and female stuff. Yes. Old values.
BUT EVERYTHING IS BETTER AS 100-200% INFLATION FOR TEN YEARS OF COMMUNIST RULE. basta ya. Let People import things, get them off the dole. Make some money and import and export stuff again.
ARGENTINA WAS/IS A FAILED STATE IN ALL OBJECTS. IF YOU DO NOT KNOW THE SITUATION YOU SHOULD TRY READ UP.
Milei is fixing it in argentina. NOBOA is fixing it in Ecuador.
Give them a fair chance and f off with your communist propaganda it is THE CULPRIT OF THIS 200% INFLATION
(MILEI ALREADY FIXED THAT PARTIALLY BTW, no more difference in exchange rate between street and bank!!)
The Peronists that have plagued Argentina for decades are not communist. They are extremely protectionist and horribly corrupt but they are far from communist.
The exchange rate being real is definitely a good thing. Eliminating price controls and allowing imports will also be good things. That doesn’t mean he won’t leave a path of destruction in his wake. Fixing the economy can be done without having an anarchocapitalist being the one crafting the policies.
While I may not know as much about Argentina as an Argentine, I have taken an interest in its economy since college when I studied the currency board of the 90s and what led to the economic crisis in 2000/2001. So I am definitely versed on the destruction that the Kirchners (specifically Cristina) laid the groundwork for.
He took measures in his first days that produced rises in both food and fuel, two of the biggest components of inflation. You think that may have influenced or not? I mean…
FOOD and fuel is DOWN as of this week with a lottttt. Rents too, open market has given farmers the chance to bring product to market direct!! No more government interference in pricing of those things! Freedom!
DOWNVOTE ME WHAT YOU WANT BUT HERE’S A SOURCE varias semanas de subida en el precio de la carne como consecuencia de las fiestas navideñas, con alzas de hasta el 50%, muchas carnicerías empezaron a aplicar rebajas del 20% y 25% en los últimos días para adaptarse a la menor demanda posterior. Y lo mismo está sucediendo con el resto de productos estacionales, propios de estas fechas tan señaladas, como es el caso de sidras, turrones o dulces, entre otros. El mercado se adapta a la demanda de los consumidores y baja precios con el fin de dar salida al stock acumulado.
He actually said that was going to happen. Argentina has been. Subsiding fuel and food and removing the subsidies would lead to short term inflation since the price of both is no longer artificially low.
If he said the measures HE took were going to cause inflation, how is that the previous government’s fault? This is what I find funny. He said “25% inflation is great! We were going to much worse inflation! We should congratulate the Economy Minister”, but at the same time, you say the measurements he took were going to cause inflation. So… how did they avoid a worse inflation?
I’m sorry, but some people don’t want to see reality, just want to believe everything will be good in the end, but are not being critical with this government (something people should always do, regardless of who they voted for), and everything the government do is fine with them, no matter how incoherent the discourse is, or how harmful those measures are.
Yeah exactly. The timelines of changes like this are longer than just a few months. Milei’s work will be bearing fruit for the next decade or so, unless the next government does a complete 180.
I am just pointing out inflation rates and I personally don’t care about anything else. Milei said it would take two years to fix the inflation in Argentina, so, I am holding him to it.
What I really think is going to happen is that inflation will not be fixed and he is going to keep blaming the government and “leftists” because of it. It’s actually in his best political interest not to fix inflation as it gives him a way to demonize his opponents.
His inflammatory rhetoric is only used to piss people off. It’s not that he might actually believe any of the shit that he says. It’s in his best interest to keep telling people they are being attacked by his opponents.
“All you have to do is tell them [the people] they are being attacked, and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same in every country.” - Hermann Goering (as quoted by Gustave Gilbert in the Nuremberg Diary)
Add comment