Argentina's poverty rate soars past 50% under Javier Milei
Argentina's poverty rate soars past 50% under Javier Milei
Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.
Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.
The poverty rate in Argentina reached 52.9% during the first six months of Javier Milei’s government, the national statistics agency reported on Thursday.
It marks the highest poverty rate since 2003, and a 11.2% increase compared to the second half of 2023.
The number of people living in extreme poverty grew by 3 million during the first half of 2024, according to the report.
The statistics agency calculates poverty by comparing household income with the cost of a basic basket of goods, which amounts to around $240 (€215).
And no one could have predicted this! 🤣
Doesn't he have pets with psychic powers? Why didn't they bark anything?
Didn't he basically campaign with this?
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He might be a lunatic but their economy has been tanked for a long time. They really didn’t have much to lose by giving him a shot. Businesses need to thrive in order to pay for the social safety net that Argentina wants so they need to get the balance right. Inflation was 300% in April and they say they expect it to be down to 122% by the end of the year. It’s a terrible situation they are in. Him being elected wasn’t because he gaslighted people into thinking an improving was bad so he can’t be directly compared to Trump or people like Nigel Farage.
Turns out they had a lot to lose. Who could've seen this coming? I can understand the despair of Argentinians but that was just accelerationism.
A very brutal rate. Sad to see for the Argentinian people.
Tales of Ancapstan
Libertarianism is a hell of a drug.
What else did they think he was going to do with that chainsaw?
By chainsawing all the social nets and the magic of economic liberalism the Economy would heal and everything would be wonderful!
Or at least some super-wealthy people can buy up State services for pennies on the dollar and make a killing later.
Milei? AFUERA!
What percentage of a population must suffer under right-wing leadership before that population rises up and corrects the problem by force? Is some type of uprising likely to form here?
Usually it's when the middle class gets tired that governments are overturned here.
The days of revolutions are past. Remote control drones have made it impossible now.
He was elected. If people don't want him they should just vote someone else next time.
The answer is all of them. Right wing behavior is always from hatred and insecurity.
To the surprise of no one.
I'm sorry but why does he look like an aging emo?
He looks like Bob Odenkirk's donut ordering slacker from Mr. Show.
Droopy!
That means everyone can stop paying rent right?
Only if they all do it at the same time.
DW News - News Source Context (Click to view Full Report)
Information for DW News:
MBFC: Left-Center - Credibility: High - Factual Reporting: High - Germany
Wikipedia about this sourceUnfortunately if the government has been run on unsustainable economics previously, balancing it to be more sustainable will make people poorer on average. The aim is of course to build a foundation for sustainable growth afterwards.
If possible, the best way to balance the budgets socially is to increase taxes on the rich. It's a horrible situation because things generally have to get worse before they get better.
I hope the government is doing the right thing, so Argentina may restore their economy. But unfortunately right wing governments tend to favor the rich and not the poor.I just read the part: "What policies is Milei implementing in Argentina?"
And this is not a good way of doing it, just cutting social assistance is a very harsh way of doing it, and will hit the vulnerable parts of the population the most. I now remember reading about the guy a few months ago, and he seems to be delusional also in his economic thinking.I don't think Milei will make Argentina better in any sense in the short/mid/long term. Bolsonaro, Trump, everyone on the far-right says the same thing but it only gets worse, never better.
This guy literally takes advice from his dogs, so probably not. And i mean “literally” in the literal way.
You have got to be kidding.
https://time.com/6337474/javier-milei-argentina-president-cloned-dogs-advice/
What the actual fuck.
This is some Olympics level mental gymnastics.
I was not talking about Javier Milei specifically, but economics in general.
Apparently Javier Milei is an idiot, so chances he is doing the right things are slim.
Yeah. Even though I think right wing libertarian economics is naive, and guaranteed to fail, blaming this guy for the economy in his first 6 months is likely propaganda. Most economists don't attribute economic performance to leadership until their own budgets and policies have been in effect for 6-12 months, which often isn't until the 2nd half of their term. Obviously radical changes can have an immediate impact, but they tend to be rare.
Edit: A linked article states a radical inflationary policy, but provides no references or sources. Journalism fail!
Immediately after taking office, Milei devalued the national currency, the peso, by more than 50% against the US dollar.
Most economists don't attribute economic performance to leadership until their own budgets and policies have been in effect for 6-12 months
Most world leaders don't dismantle their entire system with the sense and carefulness of a coked up toddler from day 1.
Add a special animosity towards anything that provides stability and financial security to the country as a whole or any non-rich person and you get dramatic worsening of conditions REALLY fast no matter how bad it already was.
I mean he made about 300 changes to the government in his first few days so his anarcho capitalist ideology might be the exception to your point.
I mean you don't have to look far to find credible sources showing what his own adminstration admitted to doing.