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Javier Milei’s first year: $3 billion surplus and tenfold lower inflation in 2024
(www.financial-world.org)
this post was submitted on 18 Dec 2024
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The poverty was far lower before Milei started implementing austerity measures, so yes, by saying his measures are a good thing, you are saying high poverty is a good thing.
Only if you believe there is no direct connection between the devaluation of people's savings paired with increased costs of goods and poverty.
Hyper inflation in itself leads to poverty.
Then why is poverty so much higher now than it was before Milei started implementing his libertarian ideas?
Because inflation is compounding in nature just like interest is. The longer you have a high inflation rate the worse the situation gets.
Inflation is getting lower and poverty is rising. You're not making sense. Meanwhile, child mortality is also going way up.
You're not justifying Milei's liberarianism because it's not doing what you are claiming.
Their rate of inflation iis decreasing but they still experience inflation rather than deflation. INFLATION IS COMPOUNDING even if the rate of increase of inflation is slightly lower there is still a lot of inflation.
If you owe $100 and inflation is stuck at 200% per year after one year you'll owe $300, after two years $900, three years $2,700.
Now if you owe $100 and inflation starts at 200% per year then drops to 190% for year 2, and then falls again to 180% for year three you're looking at this: year 1 $300, year 2 $870, year 3 $2,436.
It's better to owe someone $2,436 than it is to owe them $2,700. But owing someone $2,436 sucks a lot more than owing them $100.
I don't know how this couldn't be clear to anyone who understands the concept of inflation.
https://youtu.be/T8-85cZRI9o
https://youtu.be/BHw4NStQsT8
And yet the reality is that inflation is getting lower and poverty is rising and people are dying and it has gotten worse and worse since Milei started implementing his libertarian policies. Those are facts. You are not justifying the poverty and the deaths. Telling me I just don't understand inflation doesn't justify poverty and death.