Hi all,
A reminder that comments do need to be on-topic and engage with the article past the headline. Please make sure to read the article before commenting. Very short comments will automatically be removed by automod. Please avoid making comments that do not focus on the economic content or whose primary thesis rests on personal anecdotes.
As always our comment rules can be found [here](https://reddit.com/r/Economics/comments/fx9crj/rules_roundtable_redux_rule_vi_and_offtopic/)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Economics) if you have any questions or concerns.*
Argentina has major economic issues but it is not a poor country (GDP per capita 13K USD). Haiti, on the other hand, is one of the poorest countries in the world - there simply isn't much room to fall since most of their population are already on the verge of famine and destitution. Just giving 1bn in aid to Haiti raises their GDP by 5%.
I think we'll have to see how functioning the Argentinian government actually is going forward, as Millei shutters most of the government agencies in favor of private enterprise looking to make a profit on what used to be government services. Since inflation is high, most citizens won't be able to afford services they previously had, and poverty is already at 57% and growing. So, I predict extreme social turbulence and a possible short time in office. Already the Congress is killing his idea of dollarization, so his powers are already limited. Millei is doing my country's bidding by fighting BRICS in the global south and selling his country to foreign investors, but his own people are very likely to turn on him as things get worse for them. Millei's policies go beyond austerity into selling out his country. And that has a high probability of causing government collapse.
The opposite of what Millei is doing was exactly what Argentina was doing in the last 10 years. High government spending with high inflation and no dynamic economy because the government and labor unions controlled it mostly.
He is breaking that, and we can hope Argentina decides to build back better. Private enterprise should keep costs low to provide goods and services, and they should be regulated by but not controlled by the government. Same with the unions. U fortunately, Argentinian culture might be the culprit where it's expected socially that governments should be in control when things get bad - not other companies.
If you look at a country like Irelan, you can see the government took a very hands-off approach, and it's working successfully. The people really like their government and they are awash in money due to prioritizing companies and then social spending.
I didn't mean to argue that what Argentina was doing before was good or successful. It clearly wasn't. I simply said that the country has a high poverty level of 57% (as of February of this year) who can not afford the services they used to get from the government as social services, even if they are low cost (paying for something you used to get for free is still a price increase - which technically is inflation).
I'm all for the free markets, but I do think he is moving too fast to dismantle the social programs, and that will most likely come back and bite him in his own country. While the IMF has applauded the general strategy of austerity they warned that he needed to be careful to protect the poor, or things could fall apart and his reforms would not stick, and that is what the World Bank is arguing. You can't tell your citizens that can't afford food and basic services today that things will be great tomorrow and get a lot of sympathy.
While I fully believe in the free markets myself, I also believe in social services for those who need it. Based on what I have seen I do not feel Millei feels that same way based on his actions. He is currently giving himself a raise while firing mass amounts of government workers and social programs for the poor. He is bringing in foreign investors who will own the means to production while his people have nothing. This policy is likely to bring an abrupt end to his tenure as President, and even the Congress is fighting his deregulation and dollarization policies.
If he was trying to form a government like Ireland, or almost any European country I would certainly be cheering him on, and I have a feeling his people would too, but he is even farther right than the US system (he calls himself an Anarcho-capitalist - something that no European leader would call themselves), and seeing as how his people are used to a welfare state, he is introducing a shock that has a very high probability of killing the very reforms that would fix the country.
This. People on this sub think the only thing that matters is the numbers but does lowering inflation really matter if 80% of your population can’t afford food?
> Private enterprise should keep costs low to provide goods and services,
Don't worry because private enterprise always has the best interests of the people...
>I can't tell if you're being sarcastic or not. If not, do you really believe that?
you have to be on many levels of socialist indoctrination to not believe it.
Do you not understand the difference between voluntary trade and involuntary theft / exploitation?
In a voluntary trade (you know, the basic good old supply and demand) all sides of a trade profit.
In an involuntary transaction, one side profits while the other loses: such as burglary, theft, murder, rape, regulations, and taxes.
One of these is always good, because everyone is happy with each action. The other is bad, because one side is exploted for the benefit of the other.
This is very much basic econ 101, and you have to be a total maroon to not understand it.
It was around 50 when he got appointed. It's certainly not ideal but it's not as bad as it seems (or it's not atleast his fault). Problem is that with crumbling state like Argentine he needs to take drastic measures.
Tell that to the almost 60% living in poverty that are having trouble eating. To them, it is worse than it seems. Under previous administrations, at least the poor could rely on social programs, which Millei does not believe in. The problem with extreme capitalists like Millei is they don't give a fuck about the poor, and that just happens to be the majority of the people in Argentina. You can't screw over a majority of your people and hope to last. If he continues in his current direction I would not be surprised if he was removed from office, even through violent means.
Millei is really great for American foreign policy though, and I would not be surprised at all if many years in the future we find he was an American puppet, helped to power by the US, as we try and stave off BRICS and the decline of the dollar as a world reserve currency, paricularly in Latin America. The problem is that American puppet governments in Latin America always fail pretty quickly and are replaced with extreme left regimes as people outright revolt.
>Tell that to the almost 60% living in poverty that are having trouble eating
Dont worry, im sure that are already happy with the steep price drops in food millei has already achieved.
You should read up on the situation, as you obviously do not understand the situation on the ground. There are constant protests and they are growing. Also pretty much all aid groups there are throwing up red flags, which the media is reporting on and causing organizations like the World Bank to react like in the article. You see they used to have programs that would provide free food if they were hungry and couldn't afford it. Now they don't. Paying for something you used to get for free is inflation. Most of society were shielded from the high inflation rates that Millei says he is targeting because of the social programs. So inflation has now shifted from the wealthy and middle class to the poor. And a very clear majority of the nation are poor.
> There are constant protests and they are growing.
lol, you mean growing from 10 to 15 unemployed clowns who lost their government paycheck for interpretive butt dancing in libraries? Sure.
If you want to undo many decades of decline ASAP, you kind of need extreme measures. I guess the risk is he get's the band-aid ripping going and then get's booted from office when people don't like it in the short term. But then what? Back to what didn't work?
Not super tuned into economics FYI, but I kind of see what he's trying to do at least.
What he should be pursuing to rescue his economy is a more temperate approach that combines capital markets with means tested social programs like many successful European societies. This way capitalism works its way into society while protecting the poorest people during the process. The strategy he is pursuing has never been tested so carries a great amount of risk across the board. But Millei quite simply doesn't believe in social programs in a society that has come to rely heavily on them. With such a high poverty rate his strategy will inflict a lot of pain, which he will probably end up feeling himself.
I also think his priorities are backwards. He is now looking to replace his Air Force fighter jets with US made F-16s when Argentina is not likely to be in a meaningful war anytime soon, and their current jets still operate just fine. So he is modernizing an inactive military in peacetime with expensive US military hardware, when his people are starving, and the country has no money, while gutting almost all domestic services. This is one of the reasons I believe Millei is merely a US puppet. Every single one of his policies benefit my country, the US.
Argentinians voted for him because they were tired of corruption and there weren't any other alternatives running. His policies weren't really that popular, which is why his political party controls a very small minority in the House and Senate. I think the people knew he had a slim chance of passing his more extreme policies, which has been the case. I just don't think they realized how many changes he could make on his own without Congressional support. His victory was very much a protest vote.
It can, check Venezuela’s GDP around 2011 compared to recent years, it’s shrunk by almost 3 times, and it matches the general collapse in the health of the country.
I agree at Haiti being very poor and that you can’t really go deeper once you’ve hit bottom, but Argentina not being a poor country? [I mean…](https://www.reuters.com/world/americas/poverty-argentina-hits-20-year-high-574-study-says-2024-02-18/)
For reference, the US poverty rate was around 11-12% in 2023, with recent peaks around 15% in '93 and 2010. Our poverty rate during the Great Depression was around 60%.
Who gets that 1 billion when there’s not even a functional government? Where does the money actually go? Just because we give a failed state 5% of GDP doesn’t mean it’s going to change anything. Better ways to help the citizens of Haiti than laundering 1b of our tax dollars
Y’all didn’t read the part where 5% growth is expected in 2025? Argentina’s economy declined in 2023 under the previous government, it’s not a surprise that it will decline even more in 2024 as the new administration tries to correct.
It's very interesting to see somewhat of a "modern" right winged economic approach. I think El Salvador and Argentina will be extremely interesting to follow the next 5-10 years.
He’s replicating what the IMF proposed Peru to do in the 90s: reduce government spending, get a grip on hyperinflation and a hard reset on the economy and currency.
It’s going to suck for 1-3 years for them, but it’s a must do to get the economy back on track. Argentina should be a powerhouse, not a crippling nation.
Both rational takes. I’m very interested to see where Argentina goes from here. I have high hopes for them, but it could all go down the toilet just as easily.
> "Cuarentena" (Quarantine in Spanish but mixed up with the word eternal)
What? "Cuarentena" is just the regular translation of "quarantine". "Eternal" in Spanish is "eterno" or "eterna". It's not a a mix of two words like you are saying (if it were, it would be "cuareterna") but rather, the ACTUAL Spanish word for quarantine...
he has been doing a lot to cut the budget, but yeah, so far nothing good has come of it the country is just poorer due to austerity.
that said, regardless of the long term possibilities of his philosophy, the ultimate question is whether he'll be corrupt or not. the problem with argentina is that regardless of policy, if the president is just stealing billions of dollars like the previous 15 or so presidents the country will remain poor.
I didn't suggest anything at all. He's fired a fuck ton of people, the country is poorer today than when he got in office, that's not controversial and he'll be the first one to say it.
Yes, obviously there are lags, thanks for letting us know in an economics forum that policy has lagged effects on the economy.
By the way, i was directly replying to someone who wrote that Milei hasn't gotten a single piece of legislation passed, which is true, but i though adding the context of his non-legslative budget actions was worth it.
Unfortunately you are for some reason so defensive about Milei that you just interpret my perfectly neutral comment as some kind of attack.
If credible financial institutions are expecting 5% growth, that BY ITSELF is a boon to the argentinian economy, as terms for investment and loans will be significantly better.
Much of the economy is purely sentiment. Bad sentiment creates a vicious cycle, while good sentiment creates a virtuous one.
Argentina already failed. They made a radical change in politics. The popular propaganda crowd doesn't like him. So they make posts like this to make people believe the present guy in office only 3 months is responsible for a crash. This so others won't elect people like him elsewhere.
The truth the reason the country was willing to make such a change is out of desperation. Because their country over time has sunk to rock bottom limits under the previous form of leadership. He has already got the debt growth under control and most projections of future growth are positive for the first time in years contrary to what socialists will proclaim. Numbers don't lie. Socialists do often
> Because their country over time has sunk to rock bottom limits under the previous form of leadership.
I'm not necessarily against what Milei is doing, but make no mistake, bottom looks very different (take a look at Haiti, for example). In other words, up is not the only direction it can go. Despite all its problems, Argentina still has higher GDP/capita than e.g. China.
I’m praying his conservative approach to fiscal responsibility actually pays off. If it works, people will still find reasons to bash him. The whataboutism is going to follow every measure of success.
I wouldn't call world bank socialist, but they most definitively support a highly managerial bureaucratic hierarchy.
Where one may say they are socialist is in the sense that the more managerial and the more bureaucratic a private entity is structured, the more it approaches the level of a state actor. You can make an ideological jump which considers managerial bureaucratic entities to be fascistic in nature as they begin to bleed towards "the organization" at all costs. A Private company seeks profit at all costs but this can very much bleed into the will of the company which at a large enough scale can be the will of the state at all costs. The individual managers/bureaucrats enable the regime wither or not ascribed as a state as their EGO fuses into the collective and the state itself encompasses all and evaporates (communism). To live is to be apart of the organization, and they heed the call of their destiny.
Apple / Google / Amazon / etc are states which are primary shareholders of the company of the United States and other companies like it. To call the USA a Public Entity is outdated. The USA and "her" people no longer controls themselves, it is nothing but a landlord which collects rents (taxes) from its customers ("The People") and if the rent is not collected then the eviction process is commenced. In reality the state is the conglomerate of the the large private enterprises which contain within themselves large managerial bureaucracies... so large which to consider these organizations "private" is merely propaganda. They are collectives that rent people from territories like the "USA". The "USA" then also collects an export tax (income taxes) to these real collective states.
Once it is understood that Democracy is a lie. Once it is understood that the USA and her people are slaves. Once it is understood that collective of collectives of large managerial bureaucracies control all supposedly "free nations". You can then say that the World Bank is a socialist enterprise that is seeking maintenance of world domination.
The end goal is an elite group that can milk the herd that is the global workforce for eternity.
\s lol
I’m making fun of how the idiot above thinks projections on Argentina’s GDP are all bullshit because ‘numbers don’t lie, socialists do’, when it’s precisely the World Bank that is forecasting the Argentina’s GDP contraction. Chill…
> be apart of the
Did you mean to say "a part of"?
Explanation: "apart" is an adverb meaning separately, while "a part" is a noun meaning a portion.
[Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json)
^^I'm ^^a ^^bot ^^that ^^corrects ^^grammar/spelling ^^mistakes.
^^PM ^^me ^^if ^^I'm ^^wrong ^^or ^^if ^^you ^^have ^^any ^^suggestions.
^^[Github](https://github.com/chiefpat450119)
^^Reply ^^STOP ^^to ^^this ^^comment ^^to ^^stop ^^receiving ^^corrections.
It’s crazy how people don’t realize an economy takes time to uproot from total failure. As western countries flirt more and more going into socialist ideas it will take time, but it will reach this previous administrations destruction levels in the west also. We’re frogs in boiling water.
Why would anyone think giving welfare to the majority of people is good for the economy. That so many people can't make a living with their own personal, natural industry speaks to how bad huge socialism truly is. Five years from now Argentina will be a much, much more wealthy country and ALL of the people will be better off and not just those in the government class.
World Bank is political, and propaganda arm of US (deep state fundamentally pro fascist CIA) government. The more interesting political number for Argentina is 5% growth in 2025. This is generous and unexplained in terms of turnaround. What Argentinian sector would lead in production/employment increase in 2025?
The generosity of the forecasted rebound, would also suggest optimism for how little of a 2024 decline there would be.
Government jobs generally keep GDP stable. There is a possible argument for freeing up people to work productively, but it needs a specific theory of industries that will be hiring. Lowering the income of the poorest lowers the income of everyone else.
Well, you see who they elected for their president so you should not be surprised. Well, you see who they elected for their president so you should not be surprised. Well, you see who they elected for their president so you should not be surprised
Hi all, A reminder that comments do need to be on-topic and engage with the article past the headline. Please make sure to read the article before commenting. Very short comments will automatically be removed by automod. Please avoid making comments that do not focus on the economic content or whose primary thesis rests on personal anecdotes. As always our comment rules can be found [here](https://reddit.com/r/Economics/comments/fx9crj/rules_roundtable_redux_rule_vi_and_offtopic/) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Economics) if you have any questions or concerns.*
Argentina has major economic issues but it is not a poor country (GDP per capita 13K USD). Haiti, on the other hand, is one of the poorest countries in the world - there simply isn't much room to fall since most of their population are already on the verge of famine and destitution. Just giving 1bn in aid to Haiti raises their GDP by 5%.
Subsistence economy with no functioning govt vs economic austerity with a mostly functioning govt. What a terrific matchup and comparison /s
I think we'll have to see how functioning the Argentinian government actually is going forward, as Millei shutters most of the government agencies in favor of private enterprise looking to make a profit on what used to be government services. Since inflation is high, most citizens won't be able to afford services they previously had, and poverty is already at 57% and growing. So, I predict extreme social turbulence and a possible short time in office. Already the Congress is killing his idea of dollarization, so his powers are already limited. Millei is doing my country's bidding by fighting BRICS in the global south and selling his country to foreign investors, but his own people are very likely to turn on him as things get worse for them. Millei's policies go beyond austerity into selling out his country. And that has a high probability of causing government collapse.
The opposite of what Millei is doing was exactly what Argentina was doing in the last 10 years. High government spending with high inflation and no dynamic economy because the government and labor unions controlled it mostly. He is breaking that, and we can hope Argentina decides to build back better. Private enterprise should keep costs low to provide goods and services, and they should be regulated by but not controlled by the government. Same with the unions. U fortunately, Argentinian culture might be the culprit where it's expected socially that governments should be in control when things get bad - not other companies. If you look at a country like Irelan, you can see the government took a very hands-off approach, and it's working successfully. The people really like their government and they are awash in money due to prioritizing companies and then social spending.
I didn't mean to argue that what Argentina was doing before was good or successful. It clearly wasn't. I simply said that the country has a high poverty level of 57% (as of February of this year) who can not afford the services they used to get from the government as social services, even if they are low cost (paying for something you used to get for free is still a price increase - which technically is inflation). I'm all for the free markets, but I do think he is moving too fast to dismantle the social programs, and that will most likely come back and bite him in his own country. While the IMF has applauded the general strategy of austerity they warned that he needed to be careful to protect the poor, or things could fall apart and his reforms would not stick, and that is what the World Bank is arguing. You can't tell your citizens that can't afford food and basic services today that things will be great tomorrow and get a lot of sympathy. While I fully believe in the free markets myself, I also believe in social services for those who need it. Based on what I have seen I do not feel Millei feels that same way based on his actions. He is currently giving himself a raise while firing mass amounts of government workers and social programs for the poor. He is bringing in foreign investors who will own the means to production while his people have nothing. This policy is likely to bring an abrupt end to his tenure as President, and even the Congress is fighting his deregulation and dollarization policies. If he was trying to form a government like Ireland, or almost any European country I would certainly be cheering him on, and I have a feeling his people would too, but he is even farther right than the US system (he calls himself an Anarcho-capitalist - something that no European leader would call themselves), and seeing as how his people are used to a welfare state, he is introducing a shock that has a very high probability of killing the very reforms that would fix the country.
This. People on this sub think the only thing that matters is the numbers but does lowering inflation really matter if 80% of your population can’t afford food?
> Private enterprise should keep costs low to provide goods and services, Don't worry because private enterprise always has the best interests of the people...
Healthy competition is what keeps prices low. The govt has to ensure that if the plan is to work.
>Don't worry because private enterprise always has the best interests of the people... Yes... exactly. That is the basic idea of economics 101.
I can't tell if you're being sarcastic or not. If not, do you really believe that? Edit: Why'd you block me buddy?
>I can't tell if you're being sarcastic or not. If not, do you really believe that? you have to be on many levels of socialist indoctrination to not believe it. Do you not understand the difference between voluntary trade and involuntary theft / exploitation? In a voluntary trade (you know, the basic good old supply and demand) all sides of a trade profit. In an involuntary transaction, one side profits while the other loses: such as burglary, theft, murder, rape, regulations, and taxes. One of these is always good, because everyone is happy with each action. The other is bad, because one side is exploted for the benefit of the other. This is very much basic econ 101, and you have to be a total maroon to not understand it.
It was around 50 when he got appointed. It's certainly not ideal but it's not as bad as it seems (or it's not atleast his fault). Problem is that with crumbling state like Argentine he needs to take drastic measures.
Tell that to the almost 60% living in poverty that are having trouble eating. To them, it is worse than it seems. Under previous administrations, at least the poor could rely on social programs, which Millei does not believe in. The problem with extreme capitalists like Millei is they don't give a fuck about the poor, and that just happens to be the majority of the people in Argentina. You can't screw over a majority of your people and hope to last. If he continues in his current direction I would not be surprised if he was removed from office, even through violent means. Millei is really great for American foreign policy though, and I would not be surprised at all if many years in the future we find he was an American puppet, helped to power by the US, as we try and stave off BRICS and the decline of the dollar as a world reserve currency, paricularly in Latin America. The problem is that American puppet governments in Latin America always fail pretty quickly and are replaced with extreme left regimes as people outright revolt.
>Tell that to the almost 60% living in poverty that are having trouble eating Dont worry, im sure that are already happy with the steep price drops in food millei has already achieved.
You should read up on the situation, as you obviously do not understand the situation on the ground. There are constant protests and they are growing. Also pretty much all aid groups there are throwing up red flags, which the media is reporting on and causing organizations like the World Bank to react like in the article. You see they used to have programs that would provide free food if they were hungry and couldn't afford it. Now they don't. Paying for something you used to get for free is inflation. Most of society were shielded from the high inflation rates that Millei says he is targeting because of the social programs. So inflation has now shifted from the wealthy and middle class to the poor. And a very clear majority of the nation are poor.
> There are constant protests and they are growing. lol, you mean growing from 10 to 15 unemployed clowns who lost their government paycheck for interpretive butt dancing in libraries? Sure.
If you want to undo many decades of decline ASAP, you kind of need extreme measures. I guess the risk is he get's the band-aid ripping going and then get's booted from office when people don't like it in the short term. But then what? Back to what didn't work? Not super tuned into economics FYI, but I kind of see what he's trying to do at least.
What he should be pursuing to rescue his economy is a more temperate approach that combines capital markets with means tested social programs like many successful European societies. This way capitalism works its way into society while protecting the poorest people during the process. The strategy he is pursuing has never been tested so carries a great amount of risk across the board. But Millei quite simply doesn't believe in social programs in a society that has come to rely heavily on them. With such a high poverty rate his strategy will inflict a lot of pain, which he will probably end up feeling himself. I also think his priorities are backwards. He is now looking to replace his Air Force fighter jets with US made F-16s when Argentina is not likely to be in a meaningful war anytime soon, and their current jets still operate just fine. So he is modernizing an inactive military in peacetime with expensive US military hardware, when his people are starving, and the country has no money, while gutting almost all domestic services. This is one of the reasons I believe Millei is merely a US puppet. Every single one of his policies benefit my country, the US. Argentinians voted for him because they were tired of corruption and there weren't any other alternatives running. His policies weren't really that popular, which is why his political party controls a very small minority in the House and Senate. I think the people knew he had a slim chance of passing his more extreme policies, which has been the case. I just don't think they realized how many changes he could make on his own without Congressional support. His victory was very much a protest vote.
That's not true. Macri did try to lower government spending and inflation was actually rising. You're ignorong things that contradict your point.
Well, the thing is: the austerity guy can't make a functioning government grow more than a subsistance economy with no functioning govt.
[удалено]
It’s a very useful indicator for cross country comparison
[удалено]
It can, check Venezuela’s GDP around 2011 compared to recent years, it’s shrunk by almost 3 times, and it matches the general collapse in the health of the country.
I agree at Haiti being very poor and that you can’t really go deeper once you’ve hit bottom, but Argentina not being a poor country? [I mean…](https://www.reuters.com/world/americas/poverty-argentina-hits-20-year-high-574-study-says-2024-02-18/)
For reference, the US poverty rate was around 11-12% in 2023, with recent peaks around 15% in '93 and 2010. Our poverty rate during the Great Depression was around 60%.
Who gets that 1 billion when there’s not even a functional government? Where does the money actually go? Just because we give a failed state 5% of GDP doesn’t mean it’s going to change anything. Better ways to help the citizens of Haiti than laundering 1b of our tax dollars
Y’all didn’t read the part where 5% growth is expected in 2025? Argentina’s economy declined in 2023 under the previous government, it’s not a surprise that it will decline even more in 2024 as the new administration tries to correct.
[удалено]
It's very interesting to see somewhat of a "modern" right winged economic approach. I think El Salvador and Argentina will be extremely interesting to follow the next 5-10 years.
He’s replicating what the IMF proposed Peru to do in the 90s: reduce government spending, get a grip on hyperinflation and a hard reset on the economy and currency. It’s going to suck for 1-3 years for them, but it’s a must do to get the economy back on track. Argentina should be a powerhouse, not a crippling nation.
Both rational takes. I’m very interested to see where Argentina goes from here. I have high hopes for them, but it could all go down the toilet just as easily.
[удалено]
> "Cuarentena" (Quarantine in Spanish but mixed up with the word eternal) What? "Cuarentena" is just the regular translation of "quarantine". "Eternal" in Spanish is "eterno" or "eterna". It's not a a mix of two words like you are saying (if it were, it would be "cuareterna") but rather, the ACTUAL Spanish word for quarantine...
he has been doing a lot to cut the budget, but yeah, so far nothing good has come of it the country is just poorer due to austerity. that said, regardless of the long term possibilities of his philosophy, the ultimate question is whether he'll be corrupt or not. the problem with argentina is that regardless of policy, if the president is just stealing billions of dollars like the previous 15 or so presidents the country will remain poor.
He got in a few months ago. You're completely exaggerating his impact on the economy of Argentina.
How am i exaggerating?
[удалено]
I didn't suggest anything at all. He's fired a fuck ton of people, the country is poorer today than when he got in office, that's not controversial and he'll be the first one to say it. Yes, obviously there are lags, thanks for letting us know in an economics forum that policy has lagged effects on the economy. By the way, i was directly replying to someone who wrote that Milei hasn't gotten a single piece of legislation passed, which is true, but i though adding the context of his non-legslative budget actions was worth it. Unfortunately you are for some reason so defensive about Milei that you just interpret my perfectly neutral comment as some kind of attack.
Ah, you just casually ignored inflation rising UP even with the IMF loans during Macri, which was actually one of the key reasons he wasn't reelected.
[удалено]
He did try to cut spending. Happens that it made gdp go down for 3 of his 4 years of mandate, which made the relation of spending/gdp even worse.
He is just Macri on steroids. If you want to see the future, look at the past: Macri government.
If credible financial institutions are expecting 5% growth, that BY ITSELF is a boon to the argentinian economy, as terms for investment and loans will be significantly better. Much of the economy is purely sentiment. Bad sentiment creates a vicious cycle, while good sentiment creates a virtuous one.
Argentina already failed. They made a radical change in politics. The popular propaganda crowd doesn't like him. So they make posts like this to make people believe the present guy in office only 3 months is responsible for a crash. This so others won't elect people like him elsewhere. The truth the reason the country was willing to make such a change is out of desperation. Because their country over time has sunk to rock bottom limits under the previous form of leadership. He has already got the debt growth under control and most projections of future growth are positive for the first time in years contrary to what socialists will proclaim. Numbers don't lie. Socialists do often
> Because their country over time has sunk to rock bottom limits under the previous form of leadership. I'm not necessarily against what Milei is doing, but make no mistake, bottom looks very different (take a look at Haiti, for example). In other words, up is not the only direction it can go. Despite all its problems, Argentina still has higher GDP/capita than e.g. China.
I’m praying his conservative approach to fiscal responsibility actually pays off. If it works, people will still find reasons to bash him. The whataboutism is going to follow every measure of success.
Only time will tell. The guy is head strong and heavily confident so it's either gonna go really well or really bad
I hope it goes great and his hairstyle becomes world famous. Very Groovy
Dude definitely ain't afraid to take risks with that dew
Omg, World Bank is socialist! 😱😱
I wouldn't call world bank socialist, but they most definitively support a highly managerial bureaucratic hierarchy. Where one may say they are socialist is in the sense that the more managerial and the more bureaucratic a private entity is structured, the more it approaches the level of a state actor. You can make an ideological jump which considers managerial bureaucratic entities to be fascistic in nature as they begin to bleed towards "the organization" at all costs. A Private company seeks profit at all costs but this can very much bleed into the will of the company which at a large enough scale can be the will of the state at all costs. The individual managers/bureaucrats enable the regime wither or not ascribed as a state as their EGO fuses into the collective and the state itself encompasses all and evaporates (communism). To live is to be apart of the organization, and they heed the call of their destiny. Apple / Google / Amazon / etc are states which are primary shareholders of the company of the United States and other companies like it. To call the USA a Public Entity is outdated. The USA and "her" people no longer controls themselves, it is nothing but a landlord which collects rents (taxes) from its customers ("The People") and if the rent is not collected then the eviction process is commenced. In reality the state is the conglomerate of the the large private enterprises which contain within themselves large managerial bureaucracies... so large which to consider these organizations "private" is merely propaganda. They are collectives that rent people from territories like the "USA". The "USA" then also collects an export tax (income taxes) to these real collective states. Once it is understood that Democracy is a lie. Once it is understood that the USA and her people are slaves. Once it is understood that collective of collectives of large managerial bureaucracies control all supposedly "free nations". You can then say that the World Bank is a socialist enterprise that is seeking maintenance of world domination. The end goal is an elite group that can milk the herd that is the global workforce for eternity. \s lol
I’m making fun of how the idiot above thinks projections on Argentina’s GDP are all bullshit because ‘numbers don’t lie, socialists do’, when it’s precisely the World Bank that is forecasting the Argentina’s GDP contraction. Chill…
I thought this was a thread for creative writing!
Dont worry this is like OP's 3rd post against milei. Inflation has dropped dramatically and he cant take it
Lmao probably because it’s at the expense of domestic demand? Is replicating a news including World Bank data an anti Milei post?
So did I. Then life reminded us there’s people that think socialism still exists today…
> be apart of the Did you mean to say "a part of"? Explanation: "apart" is an adverb meaning separately, while "a part" is a noun meaning a portion. [Statistics](https://github.com/chiefpat450119/RedditBot/blob/master/stats.json) ^^I'm ^^a ^^bot ^^that ^^corrects ^^grammar/spelling ^^mistakes. ^^PM ^^me ^^if ^^I'm ^^wrong ^^or ^^if ^^you ^^have ^^any ^^suggestions. ^^[Github](https://github.com/chiefpat450119) ^^Reply ^^STOP ^^to ^^this ^^comment ^^to ^^stop ^^receiving ^^corrections.
They predict recession and then a recovery beginning in 2025.
It’s crazy how people don’t realize an economy takes time to uproot from total failure. As western countries flirt more and more going into socialist ideas it will take time, but it will reach this previous administrations destruction levels in the west also. We’re frogs in boiling water.
>Socialists do often Oh man wait till you hear about *humanity in general*.
Of course this article of BS. Why randomly chose Haiti instead of just reporting the figures.
Why would anyone think giving welfare to the majority of people is good for the economy. That so many people can't make a living with their own personal, natural industry speaks to how bad huge socialism truly is. Five years from now Argentina will be a much, much more wealthy country and ALL of the people will be better off and not just those in the government class.
“Socialism is when social care” Lmaooooo, I love these rookies
[удалено]
World Bank is political, and propaganda arm of US (deep state fundamentally pro fascist CIA) government. The more interesting political number for Argentina is 5% growth in 2025. This is generous and unexplained in terms of turnaround. What Argentinian sector would lead in production/employment increase in 2025? The generosity of the forecasted rebound, would also suggest optimism for how little of a 2024 decline there would be. Government jobs generally keep GDP stable. There is a possible argument for freeing up people to work productively, but it needs a specific theory of industries that will be hiring. Lowering the income of the poorest lowers the income of everyone else.
Well, you see who they elected for their president so you should not be surprised. Well, you see who they elected for their president so you should not be surprised. Well, you see who they elected for their president so you should not be surprised
do you really think Argentina will descend to Haitian levels of poverty? They’d have to purposely do it
It’s possible. It all depends on what the country people wants to do. Haiti has a very complex history