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Inflation Hits 30-Year High In Argentina (menafn.com)

submitted 10 months ago by [email protected] to c/[email protected]

59 comments fedilink hide all child comments

"Argentina registered a year-on-year inflation rate of 254.2 percent in January, the highest in 32 years, according to data released Wednesday by the National Institute of Statistics and Censuses (INDEC)"

Poorness rise to almost 58% while the president is refusing to hike the minimum wage, which is common to rise every 3 months or so even during the right wing liberal regime of Macri, but this guy FUCK NO he just signed a billion dollar subsidy to "Mercado Libre" the eCash monopoly owned by the richest Argentinean Galperin ~5 Billion of declared wealth

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[–] [email protected] 11 points 10 months ago (2 children)

It is certainly very early, but how long will we have to wait to evaluate their success or failure? Or will it be the typical "just one more term"?

[–] [email protected] 3 points 10 months ago

Brexit was the perfect example of how this works: one direct policy change, clear predictions from experts what will happen, clear statements from EU, clear success/failure criteria (better trade deals, stronger economy). 7 years later if couldn't be clearer how complete failure it was but the party that did it is still going strong. Their excuse? The idea was right but the execution was flawed. Also it's still better then what the other party would have done.

It will be the same in Argentina. Whatever will happen they will simply claim they did the right thing, it's their opponents sabotaging their work that responsible for the failure, it would be even worse had they not done it, they are the only ones that can fix it. People expecting that everyone will just agree that what they did was stupid are delusional. It never happens.

[–] [email protected] -5 points 10 months ago* (last edited 10 months ago)

That is a good question which I'm unable to answer. But I can be certain that a few months isn't enough. If by the end of Milei's full term things haven't improved, I can accept calling this a failure.