Argentina inflation slows for a second month as President Milei keeps pushing austerity measures
Argentina inflation slows for a second month as President Milei keeps pushing austerity measures
Argentina’s inflation slowed down for a second consecutive month in February, as right-wing President Javier Milei continues to push austerity and deregulation measures in an effort to revive the country’s struggling economy.
My questions regarding Argentina right now are: will he be actually able to reign in spending and reduce the debt to a point where it isn’t such a burden in public finances? Will the economy bottom out before the end of his term and start sustainable growth? Will the people actually tolerate all of this?
Will Enrique Iglesias actually be your hero?
Will you look at this photograph?
All the answers are no, and it's not because of Milei, just as it wasn't because of Macri or the Kirchners, the problem of Argentina is that it is full of Argentinians
As much as it pains me, I am convinced you're right. It's mostly an education / cultural problem. You can find similar situation in other countries of course but I've never it that extensive.
The result is having some of the worst politicians ever being elected, with no credible alternative.
I lived in Argentina for 5 years. This is spot on.
The people really didn’t ever understand how well they have it. People in the US would go nuts to have a the rights they do.
This is the best summary I could come up with:
BUENOS AIRES, Argentina (AP) — Argentina’s inflation slowed in February for a second consecutive month, as right-wing President Javier Milei continues to push austerity and deregulation measures in an effort to revive the country’s struggling economy.
According to figures released Tuesday by the government’s INDEC statistics agency, Argentina’s monthly inflation slowed down to 13.2% in February, compared to 20.6% in January and 25.5% in December.
On a yearly basis, however, inflation remains the highest in three decades, topping 276.2% in February.
Milei’s government said in a statement that February’s inflation rate was the result of a “strong fiscal discipline.”
A self-described anarcho-capitalist, Milei assumed power in December and almost immediately announced a series of shock measures, including a 50% devaluation of the nation’s currency in hopes of eventually bringing the country’s roaring inflation under control.
Milei has announced a painful adjustment plan aimed at staving off hyperinflation and warned that the measures would initially have a “negative impact on the level of activity, employment, real wages, and the number of poor and indigent people.”
The original article contains 242 words, the summary contains 174 words. Saved 28%. I'm a bot and I'm open source!
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Dude has destroyed the social system completely, caused food prices to explode and many other things with brutal consequences for the average citizen. Unhinged neoliberalism is definitely not the solution. A country isn’t a corporation.
But I'm sure corporate profits are up.
Corporations aren't run in a neoliberal way, though. They're usually run pretty much as a sort of a communistic hierarchy: decision-making is hierarchical and centralized; resources of all kinds are pooled; uniformity in behavior and looks is encouraged; internal and external propaganda is strong; and internal competition is discouraged. And finally, most of the benefits of the work, i.e. money, goes to the top.
So yeah, countries definitely aren't corporations, but the end result of that thought isn't perhaps what you imply.
Inflation before him was 10% monthly. On his first month in office, he raised it to 25% thanks to his measures. Second month 20%. Now, at 14%, we're still 40% worse than the worst month of previous administration.
Prices are higher than the US or Europe now, while minimal wage remains unchanged at US$160. If he's into something, it is something bad for sure.
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