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

submitted 9 months ago by [email protected] to c/world

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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[–] Diplomjodler3 11 points 9 months ago* (last edited 9 months ago) (1 children)

So how exactly do you think the current administration will fix those mistakes?

[–] [email protected] -5 points 9 months ago* (last edited 9 months ago) (2 children)

If we're talking specifically about inflation, stricter monetary policy, currency changes Milei has suggested, lowering the deficit, free market policies (stopping price controls for instance) should fix the situation.

If these things are successfully implemented, it should lead to increased trust in the economy, which in turn will help everyone, poor the most.

[–] [email protected] 3 points 9 months ago (1 children)

What's to stop corporations from exploiting consumers if there are no price controls? Free Markets don't exist in our current world, especially not in any developed countries. Lowering the deficit? Okay. Sure. Just lower the deficit.

Do you know how to lower inflation? It's to raise interest rates until you force a recession. Increased trust in the economy? How do you know?

[–] [email protected] 1 points 9 months ago

What’s to stop corporations from exploiting consumers if there are no price controls?

Competition is the main force. Of course things like ownership and other basic rights need to be enforced by the government. There are sometimes cases where the markets are working so badly that price controls might not be the worst option out there. But usually governments use it too easily, and for a known reason. Because it's the populist thing do: it gets them get votes with practically none of the responsibility of the mess they make.

Free Markets don’t exist in our current world, especially not in any developed countries.

This is one the main reasons why they remain on that stage instead of climbing to (or staying in) the 1st world. Because they don't have free markets. Bolstering free markets is what I believe Milei is trying to do.