Javier Milei Tames Argentina's Runaway Inflation

[sanman]

Argentina's Milei seems to be succeeding in taming his country's runaway inflation:

Argentina's chainsaw 'anarcho-capitalist' leader Javier Milei defies inflation doubters

Javier Milei, self-proclaimed 'anarcho-capitalist' president who says he takes most of his political advice from his dogs, has drawn comparisons to Trump.

www.usatoday.com

Javier Milei Tames Argentina's Runaway Inflation

The plan from Argentina's controversial new leader to tackle runaway inflation may be working. His libertarian-laced austerity 'shock' measures have translated into lower inflation rates.

Argentina's chainsaw-wielding, self-proclaimed "anarcho-capitalist" president who says he takes most of his political advice from his dogs has appeared to achieve what many political analysts and economists said his radical plans almost certainly wouldn't: modest improvements to the country's economy.

Javier Milei, 53, a former right-wing economist and television pundit whose combative style and embrace of conspiracy theories has drawn comparisons to Donald Trump, took power in December.

Five months since he was sworn in, Argentina still has one of the world's highest annual inflation rates − a cumulative figure of 287% as of March, according to Bloomberg data − but Milei's libertarian-laced austerity "shock" measures have translated into lower inflation rates every month for the last three months.

 

[sanman]

 

[sanman]

 

[PeteEU]

Argentina's Milei seems to be succeeding in taming his country's runaway inflation:

Argentina's chainsaw 'anarcho-capitalist' leader Javier Milei defies inflation doubters

Javier Milei, self-proclaimed 'anarcho-capitalist' president who says he takes most of his political advice from his dogs, has drawn comparisons to Trump.

www.usatoday.com

And poverty has sky rocketed.. but hey, at least inflation is down for the moment.

oh and read the fine print.. devalued the peso by 50%, fired a ton of people and worse.. poverty rate is now near 60% of the population.

 

[sanman]

 

[Port & Starboard]

And poverty has sky rocketed.. but hey, at least inflation is down for the moment.

oh and read the fine print.. devalued the peso by 50%, fired a ton of people and worse.. poverty rate is now near 60% of the population.

Short term pain for a long term gain.

The country had already walked over a cliff financially and economically before he was elected......................... because of incompetence and corruption of the past government.

Melei has foreign corporations looking at Argentina once again for doing business.

Argentina President Milei’s Bold Economic Reforms Should Be a Model to the Rest of the World

As an advocate of sound fiscal policy and a strong believer in the power of free markets, I find Argentina’s recent economic overhaul under President Javier Milei not just refreshing but essential in today’s world of bloated government spending. Since taking office in December 2023, the...

www.usfunds.com

 

[Airyaman]

Is there a purpose to this thread other than the OP's lovefest? Four posts from sanman, and not a single bit of real comments.

 

[highroller]

Short term pain for a long term gain.

The country had already walked over a cliff financially and economically before he was elected......................... because of incompetence and corruption of the past government.

Melei has foreign corporations looking at Argentina once again for doing business.

Argentina President Milei’s Bold Economic Reforms Should Be a Model to the Rest of the World

As an advocate of sound fiscal policy and a strong believer in the power of free markets, I find Argentina’s recent economic overhaul under President Javier Milei not just refreshing but essential in today’s world of bloated government spending. Since taking office in December 2023, the...

www.usfunds.com

Argentina defaults every twenty years on their debt. Anyone looking at them for business is just trying to get a head start.

 

[Rumblefish]

10% inflation is “tamed”??? Yeah, no thanks.

 

[PeteEU]

Short term pain for a long term gain.

Its hardly short term. A devaluation of 50% is what Argentina has been doing for decades and has not worked. Putting more people in poverty is not good.

The country had already walked over a cliff financially and economically before he was elected......................... because of incompetence and corruption of the past government.

Many times, but if you think that he is any less corrupt..hahahah.

Melei has foreign corporations looking at Argentina once again for doing business.

Argentina President Milei’s Bold Economic Reforms Should Be a Model to the Rest of the World

As an advocate of sound fiscal policy and a strong believer in the power of free markets, I find Argentina’s recent economic overhaul under President Javier Milei not just refreshing but essential in today’s world of bloated government spending. Since taking office in December 2023, the...

www.usfunds.com

No he has not. Just because a libertarian blog or think tank says so, does not mean it is happening.

 

[Rumblefish]

Negative GDP growth. High unemployment (6 to 7 percent). Low labor participation rate (48%). High inflation (10%). Worse than the US in the 1970s during which the phrase stagflation was coined.

This, folks, is what US super conservatives will bring with their version of fiscal austerity.

 

[sanman]

Negative GDP growth. High unemployment (6 to 7 percent). Low labor participation rate (48%). High inflation (10%). Worse than the US in the 1970s during which the phrase stagflation was coined.

This, folks, is what US super conservatives will bring with their version of fiscal austerity.

This is only a step along the way to further progress through reform. As reforms progress, their effects will be felt and the situation will gradually improve.

 

[Port & Starboard]

Many times, but if you think that he is any less corrupt..hahahah.

You are entitled to your opinions but not the facts.

The guy has been in office for 6 months and here you are claiming failure, and insinuating that he is corrupt.

BS post.

 

[Rumblefish]

Argentina’s interest rate? 70%. Yeah, not an economic wonderland. No sale.

 

[Port & Starboard]

Negative GDP growth. High unemployment (6 to 7 percent). Low labor participation rate (48%). High inflation (10%). Worse than the US in the 1970s during which the phrase stagflation was coined.

This, folks, is what US super conservatives will bring with their version of fiscal austerity.

Another stupid post. The country was already a shipwreck because of the extreme socialist ran economy.

What will you say in 2-3 years if things turn around?

 

[PeteEU]

You are entitled to your opinions but not the facts.

The guy has been in office for 6 months and here you are claiming failure, and insinuating that he is corrupt.

BS post.

Have you ever seen him or heard him speak? Also, he has been in the pocket of one of the richest men in Argentina for decades.. sorry but he ain't no white knight.

 

[Port & Starboard]

Have you ever seen him or heard him speak? Also, he has been in the pocket of one of the richest men in Argentina for decades.. sorry but he ain't no white knight.

The prior government sent the country over a cliff.

The entire economy was ****ed because the extreme socialist government thought it would be a great idea to have 55% of taxpayers working for the government.

They ruined their own tax base.

You are saying the man is corrupt and not providing any proof.........................

 

[Rumblefish]

This is only a step along the way to further progress through reform. As reforms progress, their effects will be felt and the situation will gradually improve.

Ah, yes....if only actual human beings didn't have to live through the "short term" and take care of basic short term needs such as food and shelter.

As Keynes stated: in the long run, we're all dead.

 

[Port & Starboard]

Ah, yes....if only actual human beings didn't have to live through the "short term" and take care of basic short term needs such as food and shelter.

As Keynes stated: in the long run, we're all dead.

They were already over a cliff before Medei was voted in.

 

[Rumblefish]

View attachment 67509415

They were already over a cliff before Medei was voted in.

View attachment 67509415

They were already over a cliff before Medei was voted in.

And they're still "over the cliff" today.

So, tell us what "victory" looks like 3 years hence in Argentina.

You project inflation will be what?

GDP will grow/shrink by what?

Unemployment will be what?

Labor participation rate will be what?

Argentina's interest rates will be what?

Argentina's poverty rate will be what?

 

[Port & Starboard]

And they're still "over the cliff" today.

So, tell us what "victory" looks like 3 years hence in Argentina.

You project inflation will be what?

GDP will grow/shrink by what?

Unemployment will be what?

Labor participation rate will be what?

Argentina's interest rates will be what?

Argentina's poverty rate will be what?

The man has been in office only for 6 months and you have already written off his intentions of increasing the private sector tax base.

55% of the population worked for the federal government while it's private sector tax base was shrinking away.

You're not very good at this.

 

[Rumblefish]

The man has been in office only for 6 months and you have already written off his intentions of increasing the private sector tax base.

55% of the population worked for the federal government while it's private sector tax base was shrinking away.

You're not very good at this.

Notably, you didn't answer the questions.

Again, tell us what "victory" looks like 3 years hence in Argentina.

You project inflation will be what?

GDP will grow/shrink by what?

Unemployment will be what?

Labor participation rate will be what?

Argentina's interest rates will be what?

Argentina's poverty rate will be what?

What hard metrics - 3 years into the future - will demonstrate that Milei's chainsaw wielding now will have been successful?

 

[PeteEU]

The prior government sent the country over a cliff.

The entire economy was ****ed because the extreme socialist government thought it would be a great idea to have 55% of taxpayers working for the government.

They ruined their own tax base.

That is bullshit and you know it. Argentina's problems started in the 1940s and they have never recovered from it. Both "socialist" and American backed "right wing authoritarian" governments failed. And guess what most of them did when they got into power... Devalued the currency, which in the medium to long term hurt the country big time.

No outside investors will invest in a country that just devalued the currency by 50% and put 70% of the population into poverty. No one in the country can buy anything since they can barely survive.

You are saying the man is corrupt and not providing any proof.........................

Just wait...and I did provide proof..the man has been in the pocket of Eduardo Eurnekian for 15+ years.

 

[Port & Starboard]

Notably, you didn't answer the questions.

Again, tell us what "victory" looks like 3 years hence in Argentina.

You project inflation will be what?

GDP will grow/shrink by what?

Unemployment will be what?

Labor participation rate will be what?

Argentina's interest rates will be what?

Argentina's poverty rate will be what?

What hard metrics - 3 years into the future - will demonstrate that Milei's chainsaw wielding now will have been successful?

What hard metrics did you offer if the former government was left in place? None!

Businesses/corporations were leaving Argentina in droves.

Argentina lost it's tax base and couldn't pay it's debt.

They defaulted on the debt 8-9 times before Medei was elected.

Governments need tax revenue to operate............................a concept that you don't grasp very well.

 

[Port & Starboard]

No outside investors will invest in a country that just devalued the currency by 50% and put 70% of the population into poverty. No one in the country can buy anything since they can barely survive.

Wrong answer.

https://www.reuters.com/world/americas/argentina-markets-double-down-milei-investors-start-believe-2024-02-23/