A year into Javier Milei’s presidency, Argentina’s poverty hits a new high

[@JDEconomics]

Small detail you guys didnt mention: poverty before Milei was elected was already 50%. Inflation high, no growth for years, etc.

[@intoquietus]

Poverty has doubled

[@JDEconomics]

@intoquietus Poverty has increased in the short run, that's true. The monetary disequilibrium left by the previous government was massive. There was a gap of over 100% between the official exchange rate and the "blue" market rate (free market). Inflation was over 10% monthly. What did you expect to happen? Poverty, in fact, has not increased as much as it would have under alternative policies. You are choosing to focus on a snapshot instead of considering the whole movie-that’s up to you. I suggest we wait for the full four years and evaluate then. It’s too early to draw definitive conclusions. All I can say is that I prefer a sudden, discrete jump in poverty with a decreasing long-run trend, rather than a perpetually slow but increasing poverty rate. Regards,

[@Max_Power_]

​@@intoquietusIncreasing from 50% to a bit more than 50% is far from doubling...

[@_d--]

@@JDEconomics you don't understand. they are not here to discuss, they are just writing one line stuff at random

[@johnfreeman9358]

@@JDEconomicsunemployment is rising and gdp falling . That’s not a good sign at all

[@theMichaelMelo]

The poverty rate in Argentina is now below the 50% mark. According to Di Tella University, poverty in Argentina dropped to 48.6% in the third quarter of 2024.

[@FrankHarwald]

(indeed, it was somewhere around 54-56% when he took office)

[@ramonroman4363]

@@FrankHarwald -----If you really are serious on what you stated, then, you are totally dishonest. When your president took office the poverty rate was 41 %, now, with the policies of this guy is 53%. This is the reality and if you refuse to believe, then , use your freaking computer and find out. I am pretty sure that you are an ignorant guy.

[@iggyzeta9755]

170% increase in supply of Buenos Aires apartments and 40% fall in rent prices.

[@ramonroman4363]

@iggyzeta9755-----But of course it is like you say if... you understand just a little bit of economy. If there is no money to consume, then EVERYTHING GOES DOWN IN PRICES, except... the green papers, the adorable dollars that the president promised that Argentina would be full of them when he would take the presidency. You see, boludo, before his mandate, you could get ONE DOLLAR with 169 pesos, but now, with the magic policies of milei, you can get ONE DOLLAR WITH 1.O50 PESOS, namely almost 900% of inflation for the dear dollar. Can you see the reality of Argentina?

[@ramonroman4363]

@iggyzeta9755-----You know nothing about economics, so, shut up !!! I hope that this opinion is not deleted.

[@johnfreeman9358]

@iggyzeta9755 lol because people can’t afford them

[@ramonroman4363]

@@johnfreeman9358 ----You got it !!! You see, with a little bit of knowledge of economics you have discovered what the worshippers of millei can't see. No money, prices go down, therefore, people have no money to rent or to buy commodities and then, the inflation is down and milei again discovered America. The guy, milei, only knows the basis of Capitalist economy, let us see how is he going to solve the puzzle that he has created. Congratulations.

[@jorad4887]

He inherited a mountain of cratered debt, mishandling and poo politics served for the rich and elite class, give him time

[@lbrown7164]

Agreed

[@itsbeyondme5560]

​@@lbrown7164 wrong

[@Max_Power_]

​@@itsbeyondme5560It's not wrong, why do you think that?

[@murray9807]

Everyone tells you that poverty is increasing, but they don't tell you how it's measured or what's the point of comparison. Poverty is calculated from the price of salaries in pesos in relation of the dollar, salaries lost purchasing power because the former finance minister printed five monetary bases to try to buy the elections. Since the peso has stabilized, salaries have recovered and poverty has lowered

[@JohnWood-w9n]

@@murray9807 Yup, more sleazy journalists playing games with numbers on a graph

[@erickAguero-j9w]

well people are going hungry out in argentina I guess that just tells you how bad it is

[@murray9807]

@erickAguero-j9w When haven't they been hungry?

[@Max_Power_]

​@@erickAguero-j9wIronic when fat people say on TV that they are going hungry. Specially when they all are members of unions...

[@johnfreeman9358]

Go to Argentina and you’ll see first hand . People are starving, unemployment rising and productivity decreasing

[@ciaochrystusa4778]

Al Jazeera putting out lies as usual 🤣

[@bengtbengtsson1054]

Argentina just turned around from a 123 year deficit. Sometimes it takes hard decisions. If ONLY we had people like him in Europe.

[@gdf_6c]

This recipe has been applied in South America for ages. What he's doing is absolutely nothing new in other countries, with invariably disastrous results. He'll claim things will get better eventually, but they won't. Austerity isn't a means to an end, it's the objective itself. The transfer of wealth from the poor to the rich is neverending; they will only recover when they elect a different government - and when things improve he'll take the credit. This is what happens every freaking time.

[@zdubzz1280]

@@gdf_6c you’re acting like austerity is a goal in it of itself but it’s really not. It goes along with a series of other economic policies. He’s put in place and well yes some will temporarily suffer from decreased government spending. It was absolutely necessary to reign in inflation.

[@gdf_6c]

@zdubzz1280 - not "acting like"; that's my whole point. This is what every neoliberal administration does everywhere. You'll never hear one of these people declaring the end of austerity and that it's finally time to reap the benefits. It has never happened because it's never enough. It happened in neighbouring Brazil, UK, Portugal, you name it.

[@EzeBarcoP]

Because austerity doesn't have to end. Small govt is the goal. That exactly the point and what people as me voted for. I work and study here in Arg. and I don't regret anything about last elections, I don't give a f about having to pay more for transport and other services. Because I'm seeing myself the improvements and we are better that one year ago. Not in a good situation, but we will be.

[@gdf_6c]

@@EzeBarcoP - the thing with ultraliberals like Milei is that they believe - or rather, pretend to believe - that a smaller state will be an incentive for private investors to the point of financing the development of the country. It won't - and that's because it has never happened. There is no capitalism without the participation of the state. As Milei chokes the economy, prices might eventually stabilize, yes, but at a degree that makes the cost of living unbearable, particularly to the poorest. That has already happened and it looks like it's still going to get worse. The sweet promise of hordes of private investors just waiting for the perfect timing is reccuring. We've heard them in Brazil before major austerity reforms in 2016, 2017, and 2019, across two different right-wing administrations. The result? A sluggish economy for 8 years and the lowest influx of foreign capital in history. 2019-2022 also marked the lowest public investment in recorded history. Private influx of capitals reached its peak under a centrist coalition.

[@gargiulojavier]

Fake News. Poverty is going down.

[@ramonroman4363]

@gargiulojavier----Of course, when the people are dying from hunger, then, there are less people to count as paupers in statistics. You are a m....n.

[@EduardoNomas-zv4ms]

50% living in poverty? That means that there is 49% left to deal with.

[@RMSPROP]

It is good change support from south korea!!! If inflation drop foreign country will invest more which means it will recover

[@fromnorthindia3862]

@@RMSPROP haha

[@PBFI-SNIPER]

give him time ,Argentina in 1 year from now will are with low inflation , creation of jobs and reducing the levels of poverty

[@jklee5419]

Give him time and Milei will sell the whole country to foreign companies eg. US conglomerates

[@AdriBT]

Inflation did reach a high 56% but now is lower than with the previous president, from 45% to a current 44% and going down, all this without price controls and eliminating inflation, 2025 is going to be an amazing year for Argentina

[@BlazeGuitarLessons]

Viva la libertad carajo!

[@gaudier82]

Milei's government inherited a poverty rate of 55%. It has now dropped to 44% and is falling with each passing month, along with inflation. In addition, he doubled social assistance and free food for children.

[@jeremiahtay5752]

Oh look a Non Biased news Channel..definitely truthful reporting...

[@TheKarivirtanen]

Argentina is on a good path now. Milei just needs more time. The path is right.

[@benjafranklin5996]

This channel is very ignorant

[@ricfermi5886]

...Dear Argentinian people, I wish you all a Merry Christmas and a Happy New Year. *Teresa Bo is stunningly beautiful as always.

[@silcar2300]

@@ricfermi5886 the same for you❤️

[@tomasg1991]

Al jazeera cries!

[@andrewoakeshott7759]

Even as a centre-left minded individual from Europe, I think it is only fair to let the man govern at least 4 or more years before drawing any conclusions. Sure, the poor and neglected have a right to speak out about their living conditions, but it is a logical fallacy to draw the conclusion that this must be Milei's fault. One of the biggest issues argentina has faced is political instability, partially created through the poor presidential/congressional model, one that manages to make even the heavily flawed US model look pristine in comparison. Leaders quickly got blamed or praised for worsening or improving economic conditions, even when they had little to do with them and then obstructed or ousted before they can get anything done. Of course, we're not immune from this over here in Europe. When Labour got into power in the UK in 1997 they never gave any credit to John Major's government for the great shape the economy was in at the time (albeit unsustainably so). Equally though, Labour did not deserve much of the blame for the great recession that they received from both the public and media, seeing it was an international economic crisis, caused primarily by economic mismanagement in the US, through policies philosophically bolstered by the very neoliberal idea the likes of Thatcher and John Major had advocated for. So, no, economics aren't simple, they never were and much of the time, party politics blinds people to the (probable) truth, which is that fanaticism is the source of all evil. Neither militant socialism, nor dogmatic anarcho-capitalism or neoliberalism work. I could see why people would like to believe that they do, but neither is sustainable in the long-term. So, do I think Milei's policies will work then? Surely, as a "good" lefty I would have to fall in line and describe Milei as a populist madman who will wreck the economy, no? Well, I won't, because in truth, I think some of his policies may well work, provided they get implemented correctly. For instance, I think there is a good chance that his efforts to remove meddling and clientelistic forces from the economy will attract foreign investment, improve public institutions and transparency, further slow inflation, increase consumer confidence and on the whole increase economic growth. Do I think his economic model is sustainable long-term? No. But neither were or are Kitchnerism or Peronism, far from it. I still believe in the importance of state intervention with regard to regulating an economy properly (the nordic model), and I equally believe in a strong public sector that supports economic growth by creating the necessary conditions for companies to thrive (such as a well educated population, good public health, viable public transport, public investment etc.). But as the example of Venezuela and to an extent, argentina shows, you need to create a separation between the state and the economy. People need to be free to set up business, trade goods and commodities and make a profit, without threat of intimidation, meddling or price control. Thus, only a free and fair market economy, kept in check by a strong and transparent public sector can ensure this. People often believe the nordic countries are socialist, but they're not. They're mixed-market economies, the opposite of fanaticism and dogma of either kind.

[@DraftingandCrafting]

At what point would you reject Keynesian economics outright? This is a nascent experiment which I am watching with extreme interest as I believe the Austrian school has it correct. I do applaud you for not falling in line and outright rejecting anything that does not align with your current worldview!

[@per.holtstrand]

News reported from AJ _just the moment_ he visited and declared his support for Israel! What a coincidence!

[@efriamantoniogarza9388]

American conservatives are cheering for President Milei!

[@WensBlog]

Long live freedom! Greetings from a Taiwanese in Argentina ❤ I see the good changes with Milei reforms. In the first 3 months, our economy crushed like near 20%, and then we slowly recover from that crush through the rest of the year 2024. Now we are on the same level before Milei took office. The currency exchange rate is stabler than 2023. Poverty is now shrinking. From now onwards, everything is good news for Milei and Argentineans.

[@agustin-kj3xk]

@@WensBlog pues aquí no ha blamos ni entendemos inglés solo español de todos modos gracias

[@CeylonLastMile]

All media shows.

[@None-ss1zi]

Commentators after 2nd term of chainsaw man and no positive economic changes - he just needs more time, pyramids weren't build in one day

[@ramonroman4363]

@None-ss1zi-----But, you will never know how many slaves and workers were killed building the pyramids.

[@martinguila]

If you living on borrowed money paying it of is going to hurt in the short term. Borrowing more money to feel a little bit richer in the moment is not a good long term solution, its not sustainable. Its as simple as that.

[@DraftingandCrafting]

It is also immoral to steal from the future to pay for the present.

[@cookiemonster9208]

Wow, stealth ad of Star Wars.

[@retroriff]

Canadian here. Once went thru austerity and what's going in Argentina is normal. It will take time to rectify the situation, but they will pull thru. Canada and the US will be doing the same soon once we kick out Trudo and his mob . Good luck !

[@jklee5419]

By the way, all the national resources and state owned businesses are either already sold or on sale.

[@sergepajcin1255]

Hhahaaha 50% in poverty

[@ramonroman4363]

@sergepajcin1255----No, no, no, you are using old statistics, the poverty rate today is 52.9% and rising everyday with this guy's policies.

[@FrankHarwald]

(down from 56% when he took office)

[@ramonroman4363]

@@FrankHarwald ---What are you trying to do? Convince yourself that the statistics during the period of this guy milei are not real? 2023: The poverty rate in Argentina was around 42% in 2023. WHEN THIS GUY MILEI TOOK OFFICE. 2024: In the first six months of 2024, the poverty rate rose to 52.9%. December 2024: The poverty rate in Argentina is now around 53%, THE HIGHEST LEVEL in 30 years. An additional 15% of the population is in "extreme poverty". What do you say now, ignorant?

[@DraftingandCrafting]

@@ramonroman4363 Yes, yes you are.

[@ramonroman4363]

@@DraftingandCrafting -----Are you really insane with ignorance? What I pasted was a statistic of December 2024 and you are saying that I am using " old statistics"? The old statistic that I showed was the one that clearly stated that when this guy milei took office the poverty rate was around 42%, and look now how much it rose with the policies of this ignorant president: TO 53%. MORE THAN HALF OF THE POPULATION OF ARGENTINA IS LIVING IN POVERTY. Contradict this with facts and not with your ignorance. BTW, are you scare to use your own name?

[@RODELDOMINGO-fr7tf]

This man has hair which is a good thing.

[@wHaTsThIsThInGdO]

lol devalued the currency 50% and inflation is just slowing? Hahahaha