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Javier Milei Tames Argentina's Runaway Inflation

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sanman

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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.
 
 
PeteEU said:
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.
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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
 
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Argentina defaults every twenty years on their debt. Anyone looking at them for business is just trying to get a head start.
 
RetiredUSN said:
Short term pain for a long term gain.
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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.

RetiredUSN said:
The country had already walked over a cliff financially and economically before he was elected......................... because of incompetence and corruption of the past government.
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Many times, but if you think that he is any less corrupt..hahahah.

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

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?
 
RetiredUSN said:
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.
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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.
 
PeteEU said:
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.
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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.........................
 
sanman said:
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.
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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.
 
Rumblefish said:
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.
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They were already over a cliff before Medei was voted in.
 
RetiredUSN said:
View attachment 67509415

They were already over a cliff before Medei was voted in.
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RetiredUSN said:
View attachment 67509415

They were already over a cliff before Medei was voted in.
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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.
 
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?
 
RetiredUSN said:
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.
Click to expand...
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.

RetiredUSN said:
You are saying the man is corrupt and not providing any proof.........................
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Just wait...and I did provide proof..the man has been in the pocket of Eduardo Eurnekian for 15+ years.
 

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.
 
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