And in other news: Argentina’s poverty rate jumped from almost 42% to 53% during the first six months of Javier Milei’s presidency (https://apnews.com/article/argentina-milei-budget-congress-economy-inflation-c83178217097093d476fab94429768a4)
Appeasing the market needs humans sacrifice! Once the rich get their fill, the poor will… anyway who cares about the poor.
Yes, because of austerity. You have to sacrifice spending somewhere to cool the economy and reduce the deficit.
The other way to go about it is to jack up interest rates sky-high, but that doesn’t fix the deficit.
You’re defending increasing the poverty rate because of a budget deficit. Are you aware that you’re trying to justify human suffering?
Because 200% inflation was so great
During the observation period from 1980 to 2022, the average inflation rate was 206.2% per year. Overall, the price increase was 902.38 billion percent. An item that cost 100 pesos in 1980 costs 902.38 billion pesos at the beginning of 2023.
https://www.worlddata.info/america/argentina/inflation-rates.php
Less poverty but more inflation sounds better to me than more poverty but less inflation.
Why is more poverty better?
Because in the long term, very high inflation leads to everyone being poorer. And Argentina is the very best example of this.
A country that went from being the 6th richest in the world to having over half the population in poverty in 100 years. All thanks to protectionism, subsidized living costs, low taxes and printing money to make up the difference.
And let’s not forget fleecing the international community for money to rebuild the economy several times and then not paying it back.
It’s gone from less than half of the population being in poverty to over 60% being in poverty since Milei has started implementing his austerity measures.
So it sounds like exactly the opposite of what you’re claiming is happening.
But it’s fine. People are starving but it’s okay because austerity somehow is always a good thing and fuck those people, they were going to starve anyway. Probably.
Lowering inflation when it’s too high is always a question of short term pain for some people to get long term benefits for most people.
How well do you think the population would fare if the government goes bankrupt?
Are you honestly suggesting that Milei’s solution to that is the only possible solution? Libertarian austerity or nothing?
You honestly believe high inflation is better for poor people?
I honestly believe poverty has risen from just above 40% to around 60% since Milei started his austerity measures.
People are dying.
53% is not “around 60”. Moreover,
today Milei has a stable approval rating of 50 percent.
Apparently even some of those in poverty agree with his reforms.
I think people who only started paying attention to Argentina since he got elected should review the past few decades of history.
Im also not saying he’s great but he is at least making some needed reform. We’ll see if it continues. He definitely has an attitude and zeal that could push it too far but at this point it has helped.
Repeated your unsourced claim that people are dying does not make it true, and nice dodging the question.
Seems a bit early to tell if this will have much of a lasting effect. So-called economic “shock therapies” have a long history of working for a year or so, and then unraveling later. And especially for Argentina, the cycle of decades of growth followed by decades of recession has been going on for a while now. I’ll be genuinely impressed if he manages to actually fix the economy long-term, but that still remains to be seen.
Milei is a Christian, authoritarian, regressive fascist.
And he would never have gotten into power if the Argentinian left had respected the independence of the central bank, been more pragmatic with their subsidies and let the market decide more of their economy. Protectionism doesn’t work and Argentina is a shining beacon letting everyone know that.
The left in Argentina did this to themselves. Even the trade unions in Argentina are struggling with support because they’re seen as complicit in the country’s wild overspending.
*at the cost of widespread unemployment
They are siphoning all the money into corporations and then using the success of corporations (GDP) to evaluate their success.
Well they sure did make the GDP go up and now everyone is unemployed.
GDP is down
Then why are they basing their success off of GDP?
The success is because he promised to end inflation and succeeded
If they just kill everyone then the buying slows down!
Look at the brain on this guy!
