That is some serious progress.
It is indeed, most of the country is happy with this development
Most of the country is under the poverty live genius, and the ones that are not, have no money no spend and that why a recession is happening. Take your head out of your ass.
This is terrifying news for the MMT crowd though as it’s pretty good proof their theory is bullshit.
In what way is Argentina inconsistent with MMT?
MMT argues that government printing money isn’t inflationary, and inflation can be controlled with taxes. Argentina had massive inflation while spending and taking on debt, and magically it’s gone down as measures to stop that spending were implemented.
Is that right? I thought the general notion is that demand outpacing supply causes inflation. Doesnt printing money inherently increase demand? That’s why the Fed raised interest rates to fight inflation in the US, it slows money down by making things more expensive (in simplistic terms).
To MMT the printing of money is only inflationary when a country doesn’t have additional productivity. Thanks to digital products and services though l, production is nearly infinite. Others argue that all printing of money is inflationary.
The Fed only really has interest rates as a tool, so they raise it when inflation goes up. It can fight inflation by slowing lending, which thanks to fractional reserve banking is the primary source of money being printed/created.
Seems I need to read up more on the specifics of MMT. It feels like you keep contradicting yourself between your posts, but maybe I’m just missing something?
It’s 2.7% a month, which puts the inflation at 32%.
And that’s still the lowest it’s been since 2021.
Poverty figures made a record jump of 11 points in the span of six months.
All they needed is to sacrifice the poor. Poverty is now at 53% in the country.
Sounds like a libertarian utopia!
After a 49% poverty left by the previous government. So a tick of 4% after that is almost nothing
People voted him for a reason
I mean that’s a 10% (almost) change. I’d consider that significant for a population.
How is the difference 10% between 49% to 53% ?
It’s an 8.16% increase, not 10% but still awful
Then I’d ask you to correct your comment, just to keep the information clean.
Beyond that, In the large scheme, it was bound to happen due to lifting the extremely subsidized price controls on food, rent, transportation, health and the heavily subsidized services.
It’s not pretty but it had to be done.
The country was literally printing money they don’t have to pay things they couldn’t afford
Like with all things you post, maybe you should check your sources better. I’m not the one who posted the 10% statement
And what you want to correct?
Don’t try to reason with guys like this. That number means almost 2 million people became poor in the last 6 months. Two. Fucking. Million. People, with real lifes. For them is a just lines going up and down in a chart, to attract possible foreign investors. They would sell their own mother for the good lines to go up, and the bad lines go down.
Also, this person constantly posts articles simping for Milei. They are totally here with an agenda.
People didn’t become poorer from one day to another, here in Argentina food, services and health are heavily subsidized indiscriminately with money the country does not have.
Money that until last year was printed indiscriminately as well
As the subsided amount is being reduced because there is no way to pay for it, it’s understandable people will start entering the brackets for poverty.
Also, as more money is not being printed, inflation has been lowering as well.
Which has the side effects of lowering poverty as well
The current poverty index is sitting at 49% for the May -October period.
So it is clearly improving
Beyond that i don’t see a reason why you ask people to not reason with others. That’s basically the whole point of communication. Which I would understand if you had no argument to discuss, but you seem articulate so it does look weird.
Turns out people have forgotten the oldest rule of the internet, don’t feed the troll. When I was younger I thought people like you were just uneducated, and that if I could reason with you, you were actually going to change your mind. Turns out it’s not like that, you are not here to change your mind when presented with new evidence, as regular people with a pinch of self reflection do, you just want to amplify what your little echo chamber says. Trying to reason with you would be time wasted, and now I’m older and tired to just argue for the sake of it, so hard pass.
That’s what happens with massive inflation, more and more people get made poor as income can’t match the rising costs. Once inflation cools to the point cash from month 1 is about the same as cash from month 2, people have a chance to get out of poverty.
Previous governments from all political parties, all them had inflation, and workers could recover from it because unions negotiated raises according to inflation in every industry, it was commonplace back then. Why do you think there is a recession happening right now? Not only we have more people in poverty, but people outside of it also has no money to spend. Inflation kept rising but NOW, salaries didn’t accompany it. Few privileged escape this situation, even the original article doesn’t paints this stuff in a good light. We have inflation in US dollars now, so the country is becoming more expensive to live in in a way people can’t react to, how do you think that will help with poverty? It’s now, with this government, for the first time ever, that income can’t match rising costs, moron. People can’t even pay for food, housing or even electricity, take your head out of your ass, this is not just statics, it’s people. The original article states a loss of 3.5 GDP, do you know what that means?
Libertarian assholes think everything is cold numbers in a chart, I hope they get fucked as the Nazis they are.
Dude you sound deranged. We are discussing here with respect, not with insults.
Inflation was 200% last December, poverty would be 100% without drastic action.
Have they tried raise VAT and kill all the poor?
If this success lasts a long time, it will almost certainly guarantee a dystopian future for all of us.
Argentina only has 32% inflation, what a success!
Indeed, from 211% annual inflation to 107%? Astonishing success
Maybe they ran out of paper and can only print half the money
We are actually not printing any, fiscal responsability it’s the new moto
I know your being sarcastic but compared to what they were dealing with, 32% is actually a big success
How?
