ARGENTINA in Deep Trouble

[@normanvanrooy3113]

Title should read “Argentina’s Economy Looking Up”.

[@gustavomendez2891]

Fear sells more

[@jacque7736]

Or " Poverty explode under Milei economic plan "

[@ulforcemegamon3094]

​​@@jacque7736 except that poverty is literally the same from before the guy was elected lol , it raised in the first months , but later on it descended alot

[@Obloblorb]

​@@jacque7736 Or "poverty falls 11% from 50% to 39%, same numbers given by studies made by universities that have a leftist bias so the numbers aren't being faked by the goverment"

[@jacque7736]

@@ulforcemegamon3094 People living under the poverty rate has increase from 40% to 53% in one year. People having less money people stop spending inflation goes down. Super easy to do. The real test for milei is coming in the coming year. I hope Argentina won't take the same path as Venezuela. Do not listening to the noise on social media influencers, nothing like having boots on the ground to see the reality or good sources

[@manzana5713]

Greetings from Argentina. The poverty is now at 38% - not 50+.

[@mrvwbug4423]

Milei simply cooked the books and moved the goalposts

[@MeAndTheBoys_]

@@mrvwbug4423 ....and the evidence is....what? Oh wait, propaganda is better than evidence. Carry on.

[@messiahshepherd9266]

@@mrvwbug4423 the way the data is published is included in the reports and they haven't changed

[@markhathaway9456]

@@mrvwbug4423 Let's assume for the moment that your claim isn't correct. If evidence appears, that's different. So, for now, Argentina is doing well. As for Milei being a Libertarian, to this point, what does it matter. Good economics is good. About the poverty rate mentioned by @manzana5713, we'll have to keep an eye on his other domestic proposals on that, so we can critique his approach.

[@tacnasurf]

@@mrvwbug4423these results agree with those of leftist universities… say whatever you want, but how could you explain the high popularity of Milei and the increase of internal consumption?

[@stevensparks3359]

Title "Argentina in deep trouble". Entire video "Argentina improving in every metric".

[@fullalbums5675]

they aren't mutually exclusive, but it may be hard for you to grasp

[@jorgedorado5317]

This is so funny. Milei put Argentina on a deep recession and this guy telling people things wiil improve by 2026.

[@mailpedromorais]

GDP growth is in negative terms.. it got worst and it’s in now a recession; people above the poverty line is at a record high and over 50 % and severe poverty as well, pensioners can’t afford medicine… Ultimately reducing inflation solely by reducing costs and giving people to a poverty level they can’t buy anything and the state doesn’t support them isn’t a feat that anyone should be proud of.. Having this said, hopefully he does gets things under control and then is able to stimulate growth , re establish people life quality.. I’m not rooting against him… His success should be Argentinian people success…

[@jorgedorado5317]

@mailpedromorais Reading your comment, i started to wonder, when was the last time Argentina had quality pf life for at least 50% of the population? Was it before Videla's dictatorship?

[@mailpedromorais]

@ the Numbers show the % of people under and above the poverty line and it’s an unequivocal FACT. Note that I didn’t say that people had a. Good life 12 months ago .. which is obvious they didn’t but it’s also an unequivocal fact that, as of now, people are in a much worse situation than 12months ago. Numbers exist not only when they are in our favor. I’m hoping Miles (or whoever the president is at any point because I’m not in for the politics) can change it but right now, it’s a fact

[@Stories10]

We had hyperinflation in Romania in the 90s. The disinflation came with a drop in the GDP. Only after the inflation fell under 10%, we started to see the economy growing. Milei is doing well.

[@dd-uy5lx]

you got free money EU and cheap russian oil. As you can see inflation is going back up. Good luck

[@Javier77040]

That's true, the GDP had to go down because part of GDP is measuring with government public infrastructure and jobs of public sector is also not counted on unemployment, Milei fired a lot of people from there and stops infrastructure projects because too many corruption was draining the money, and construction is also boost on many countries because make numbers up, when on Argentina Milei stops all this artificial boost on GDP the fall was expected and was 5 % aprox. But some data is not mentioned here, maybe because not have the latest data or idk, but let me tell you, the GDP grown on Q3 of year, on 4.9% so all the fall was recovered, and still need to wait Q4 which could be more grown, ending the year with growing maybe

[@donmountford797]

@Javier77040 According to Reuters, q3 growth was 3.9% but down for the year. This comment section has been difficult. It feels like there are people who are pro Milei and are spinning everything positive and others who are spinning everything negative. It seems the truth is something different. The economy is in very bad shape, and people are suffering horribly. Inflation is still astronomically high, and peso continues to lose value to the dollar. But it is getting worse at a slower rate, and there is 1 quarter of modest growth, so perhaps (by no means certain) in 1 year, we will be able to see a stable economy. I say this as a somewhat interested party since I see Argentina as the most beautiful country in South America and one that my wife and I had planned to spend 3 months exploring a.d living in next year. With inflation and extreme poverty, we have pushed it out to 2026 to wait and see how it goes. Instead, we are looking at Southern Europe for 2025.

[@alsanchez5038]

@@dd-uy5lxWell done comrade. You really earned your cultural important bucket of vodka. Excellent.

[@dd-uy5lx]

@@alsanchez5038 comrade my ass little boy, if people cant buy and live on basic needs, you got no economy. Congrats you learned how economy works.

[@Wolfbay]

In the third quarter of 2024 the economy grew by 3.9%!

[@zotter2542]

Oh well I guess Russia is also doing well then...

[@profesoroak1452]

Dumbass comparison, literally not even remotely similar cases

[@inesdamonteines3985]

We are doing pretty much better,thanks.Sales are skyrocketting in comparison to December 2023.My friends finally managed to buy their own home in 2024. If you think we are doing bad now,then you have not clue about the hell from the last months-years.

[@DenisFalqueto]

Without government expenses corrupting the GDP number. That's real economy growth.

[@AndrewMcFarlane_1]

Joe Blogs: Argentina in deep trouble... also Joe Blogs: Argentina doing much better compared to 12 months ago.

[@gregc.5684]

Having a higher inflation rate than Zimbabwe means it's in deep trouble - still.

[@ambessaseway5594]

Yes because Argentina still has mass poverty over 50% Stop spending/firing government workers is 1 thing fighting poverty another

[@ambessaseway5594]

​@gregc.5684 inflation in Zimbabwe is much lower than official numbers because majority of people us the us dollar

[@gregc.5684]

@@ambessaseway5594 Sure it is.

[@RantTheRetort]

So Argentina is getting better and trending in the right direction.

[@facundoundiano9884]

Milei is doing a good job. Im Argentinian and I can do a reality check on my own

[@ijskoffie1]

Hitler said the same

[@richardlellip.e.m.b.a.7969]

Argentina was -- I mean was -- what Europe is currently today under Social Liberalism

[@WillEede]

He is doing a great job of propaganda. He is artificially keeping the dollar rate low and destroying employment and industry. Just emptying the wallets of every citizen that now needs to sell savings to be able to cope with his economic gambling.

[@celdur4635]

@@WillEede Ur misinformed. Industry and employment are already rebounding hard.

[@FirstNullLast]

@@richardlellip.e.m.b.a.7969 yep, same will be done to the U.S., social security will be cut but the people who paid into it will be SOL. The younger generation once again taking the brunt of reality. People are running governments to run until they die and not when the next generation dies. Leaving debt behind to a younger generation so they can go out in luxury and leisure since that’s all they come accustomed with.

[@kurtnunn6116]

I’m not a fan of the Libertarian philosophy. But I am rooting for this guy, and Argentina. Maybe with his approach along with recognizing necessary adjustments, and making those, he’ll experience more success

[@skyeplus]

Maybe not

[@petercini2022]

So you're a fan of government vs freedom?

[@sionnach.1374]

What are your criticisms of libertarianism?

[@fjanson2468]

They only started calling him a libertarian after things got better under his policies. Previously he was called far right wing, but they cant have someone called far right wing being correct on any policy decisions, it makes them look like liars, so now he's called libertarian.

[@MilwaukeeF40C]

The state doesn't solve anything.

[@dorbie]

Argentina has been in deep trouble for at least 75 years. I think Milei has a shot at ending the economic madness there but everyone expected a tough transition.

[@Carlos-im3hn]

Joe thank you for covering this topic. The IMF has a $44 billion Extended Fund Facility (EFF) arrangement with Argentina...so it is complex. The IMF is Argentina's largest creditor, and the two countries have a history of bailouts and fall-outs. Milei is caught betwixt and between.

[@backgammonbacon]

@@Carlos-im3hn The IMF isn't a country.

[@donmountford797]

@@dorbie 75 years sounds about right. They were once the best of the South American economies but they have allowed inflation to eat away at their economic potential for generations. Time will tell if this experiment will work. Personally, I wonder why they never decided to just dollarize their economy. Seems like the easiest way to stabilize their economy and help mitigate inflation. At least it would encourage foreign investment. If you were a foreign investor, today there is no reason to invest there. Risks with inflation and falling peso is too great to put American (or European) currency into the peso and Argentinian economy.

[@dorbie]

​@@donmountford797 If they dollarized they'd have to borrow to keep spending. Not dollarizing means they can at least spend domestically and print their way out of short term problems. Accompanying this they introduced capital controls, even confiscating $13 billion in dollar balances in 2001 and replacing it with their funny money instead because they still need to trade internationally. Anyway, before dollarizing they'd need to get their spending and balance of payments under control and if they could do that then dollarizing wouldn't have been so essential. It's really a mechanism of imposed fiscal discipline but they'd have borrowed even more to meet domestic payments because they have lacked all fiscal discipline for generations now.

[@dorbie]

@@donmountford797 dollarization would still require fiscal discipline. Otherwise you're only going to create more debt that you can't print your way out of.

[@togoni]

The title of the video is misleading 😡😡 Argentina is doing much better than during past decades

[@crazyyoutuberguy]

it's not just a sexy British accent that makes a video succeed on YT.. stating accurate facts helps..

[@noahbrown2100]

Decades?

[@togoni]

@@noahbrown2100 Yes

[@MysliusLT]

Best wishes to Argentina

[@ga21351]

We had that similar reforms in Poland during 1990-91. This allow Poland to grow for another 35 years. However if this reforms will be reverse in Argentina all effort will be destroy.

[@sid1gen]

Same answer as to a Romanian contributor here: you had the EU backing you up. You had Germany holding your hand before you were even accepted into the EU. Lots of merit to the Poles, but you were far from alone in obtaining your economic "miracle." You had help from the richest Union of countries on the planet because that Union wanted to see you succeed. Your success is marvelous, but I'm afraid Argentina is only seeing the imaginary best right now and reality will settle back on that country soon enough. Glückwunsch!

[@epincion]

Poland is a part of the EU and is a net taker ie it gets in billions more in grants & subsidisies than it pays to the EU. This has softened the problems in Poland. Argentina has no such thing.

[@ga21351]

@@epincion we join EU 2004 not 1990. So before 2004 there was no fund from EU. Economy was driver by reform from 1990-91. Grow was large sinse then and from 2004 engine change and economy continue to grow.

[@epincion]

@ The EU was formed out of the EEC of which the UK was already a member so in fact the UK was a part of a much bigger common market since 1973. The EU was formed out of the EEC so as to create a genuine single market , the EEC was a common market but still had internal borders. When it joined the EEC in 1973 the UK was known as the ‘sick man of Europe’ and was a rapidly failing state. Joining the EEC and then continuing on in the new EU saved the UK economy. Brexit was, is, and always will be, a economic and political disaster for GB (NI stays in the EU) and already a mere 4 years since “it was done” the UK GDP is 4% lower than it would have been had Brexit not happened and this divergence will continue on and on. I can explain why it’s a disaster but there are many reasons and it’s too long a story for this comment thread.

[@mspicer3262]

As long as Milei can keep the wheels on the wagon, he's got a really good chance of fixing a lot of Argentina's economic issues. He's made good inroads already.

[@robertanna9964]

I’ve been here in Buenos Aires the past 2 weeks. Some of my observations- Food prices are about the same here as in the US. Merchants are surprisingly ambivalent about accepting pesos/dollars/credit cards. People are incredibly resilient about the economy. They move forward with their lives. Commerce marches onward, seemingly unaffected. People are in the malls, shops and cafes. That’s the good. Now for the bad- Joe mentioned a rate of poverty at about 50%. I’ve seen- Mothers with young children begging in the streets. There are wonderful outdoor cafes where you can have your meal/coffee etc outside on a sidewalk patio. It’s almost as though you’re in a European city until someone approaches your table asking for your leftovers. This happens every-time, without fail. When asked about this, the Argentinians will argue universally, that the begging and homelessness is a moral failing of the individual- “They don’t want to work” I’ve heard this tired argument before in America.

[@F3r-xg1zr]

Poverty has improved a lot these last months and it is now at 38%, better than it was when he started.

[@robertanna9964]

@ Milei seems to have enormous support. I hope he uses his political capital to good effect.

[@bruce4947]

LOL inflation running over 150% and prices are the same as America 🤣🤣🤣 Some of the comments on here are hilarious.

[@-dazz-]

@@F3r-xg1zr Source, please?

[@F3r-xg1zr]

@@-dazz- I know of two sources: - First one is from the Government, the Ministerio de Capital Humano published some new data through the CNCPS ten days ago - Second one is the Universidad Catolica Argentina, that confirms the same results

[@julonkrutor4649]

You have to respect the people of Argentina for VOTING for a man that tells them "It will be hard, it will get worse but we can fix this.". If it works and they stay with him - they deserve a good future.

[@ProfessorFickle]

Milei also said “the wealthy cast would be the ones who pay “ 600times December 10 2024 the wealthy cast , is more Rich . The middle class is now poor . 🤷‍♂️

[@donmountford797]

​@ProfessorFickle More than 50% of the country is now in poverty. It has only been a year, but this experiment seems like a failure to me.

[@ProfessorFickle]

@@donmountford797 Still has ~3 years of pain . GDP per capita is worst than when Milei came in December 10 2023. Remember he cut Education funding … so much high tech jobs .

[@chicanicajfcp]

@@donmountford797 It's not 50% any more. All indicators are pointing up. Increased purchasing power, reduced poverty, monthly inflation down 90%, import prices on some electronics makes prices 75% lower, I would say that is not just good, it's spectacular.

[@donmountford797]

@chicanicajfcp I'm not sure what you are looking at but most recent metric is 57% poverty rate and inflation is over 150% Yes 150% is better than 200% but it is still unsustainable. At this point they would need a negative inflation of 200% just to make life manageable for the average Argentinian. With the week peso and out of control inflation, no one will reasonably invest in the Argentinian economy. If you want to make a profit, you would need a return of close to 200% just to offset the inflation and weak peso. Perhaps in 3 to 5 years the situation will get better but today it is not good. Probably the worst economy in the world of any developed economy not in a major war.

[@robertrubin522]

Thanks!

[@youuuuuuuuuuutube]

It was always going to take some time. He inherited an absolute mess.

[@TheIndianaGeoff]

Decades of disaster government and poor investment. Lets see how the guy is doing after 12 months.

[@yomanyo327]

He inherited a failed state in everything but name. But, all signs point at a positive trajectory, so, right now, patience is key, and staying the course.

[@WillEede]

@@yomanyo327 not true.. there are a couple of good signs but most signs are negative..

[@yomanyo327]

@@WillEede What signs are negative?

[@mrvwbug4423]

@@yomanyo327 It's still a failed state with no signs of improving, he just make the balance sheet look pretty. Nothing he has done will improve the standard of living for the average Argentinian. The Milei fans in this comment section are obviously those who were the well off of Argentina, and yes if you were already rich or well off then Milei has been great for your bottom line, if you're working class or poor then he's just pushed you deeper into poverty.

[@patricksachs3655]

The increased price spike under Milei was due to the ending of controls and subsidies on prices and exchange rate controls that kept prices artificially low. As a result, prices came in line with actual market prices, as did the exchange rate through devaluation while inflationary monetary policy was eliminated. That's why you have a tenporarily higher price level and a rapidly falling inflation rate. As wages fell relative to prices, production became profitable again, and economic activity started to increase again hence ending the economic recession, which was the necessary correction. This allowed real growth to begin, which clocked in at 3.9% in the third quarter of 2024 and showed growth in real wages. All of this has been accomplished by Milei in just one year. Argentina is now well on its way to economic growth and prosperity but for you geniuses to understand that, starting with the creator of this channel, you first need to understand economics.

[@scodellina5482]

I was a bit disappointed in the fact you didn't address that cutting government spending directly lowers your GDP by the same amount since it is a component on how it is calculated. In 2023 gov. spending as % of GDP was almost 16% and it got cut by around 8% so a very good chunk of the "negative growth" was from cutting gov. spending.

[@brianfhunter]

One of the reasons im leaving this channel, there is a lot of wrong and missleading info on this video... Dont know if its malevolence or incompetence, but i dont care, the result is the same, its a bad video, and not the first time i see from him...

[@petermaunsell4575]

You would be one of those guys thinking Russias economy is going gangbusters then yes?

[@Joe-ti7qd]

Gdp shouldn't consider government spending anyway

[@Joe-ti7qd]

​@@brianfhunterbye! Don't let the door hitcha!

[@Matt_K]

GDP is projected to grow next year above 5%. Government spending should absolutely NOT be included in GDP because governments do NOT produce anything. There is no ROI with government spending.

[@DonnellChester-xd7yg]

When Argentina gets finished with the selling off its future to the IMF,the citizens will have very little left to own. Ownership of Argentina by Argentinians will be minimal look at the land disposition going on in the United States

[@mantisanderson]

The peso has a 20% fantasy value ( a neoliberal economist said that, his name is Cavallo) Inflation es quiet because goverment is tanking debt in dolars, but prices are high in dolars while incomes are in pesos, with a very low rate. So living here its a nightmare and a finantial crash is near, middle class traveling to brazil, spending dollars that are no genuine, practically loans.

[@ergindemir7366]

You forgot to mention the most important indicator in Argentina: Blue - official dollar rate. They managed shrink the gap from several hundreds to few percent.

[@mrradman2986]

Repairing the damage from decades of failed socialism was never going to be easy. He is doing a good job.

[@claudioivanmesa]

As an Argentinian living in Argentina i can confirm this video has at least half of the statements wrong, shame on you, shame...

[@edgarbarraganmina2596]

Maybe never. MILEI is workingfor the OLIGARCHY SYSTEM

[@fmilan1]

Sorry but according With latest data, poverty is already lower than when Milei took power.

[@ProfessorFickle]

China and Milei cook the books on poverty . Argentina GDP per capita is down from 10, December 2023.

[@jansix4287]

Aw, cute! He thinks data is a reflection of reality. Especially poverty is something to be measured easily and precisely. Right? 😂

[@manzana5713]

​@@ProfessorFickleYou're lying.

[@fmilan1]

@@jansix4287 hahaha…. As someone who lived through hiperinflation, you comments are also very cute.

[@fmilan1]

@@jansix4287 Brazilian h who saw inflation of 80% per month go down to 5% per month and then to 5% per year in the early 90s. Then FHC created the Real and followed very similar path of freezing public spending, deregulation, abolition of exchange controls, privatization of public companies and greater exposition to international competition - many of the thing Milei is doing. I am totally cute in believing the results from what Milei is doing will be similar, lower inflation and poverty reduction. Your 1st world belief in governments is extremely cute to me…😀😀😀

[@DashedSimpusMaximus]

How to fix your economy? Elect the guy with the chainsaw!!

[@rayarias7127]

@@DashedSimpusMaximus I though we did.

[@mrvwbug4423]

Except it's not fixed, he just made the books look pretty and moved some goalposts around. Until poverty and unemployment drop dramatically it's still a failed state. So far rich Argentinians are making out like bandits and poverty is still sky high.

[@SergioVelasco85]

@@mrvwbug4423 It takes way more than 1 year to achieve that, for example the past 75 years (with some exceptions here and there) the governing party was a "for the people by the people" kind of government, always promising that they will end poverty, yet it skyrocketed... this is the first time (that I remember) that number is going down and no up. Of course its hard it always has been... but now I feel like there is hope for better times. But that cant be known for sure, only time will tell.

[@davids9167]

Prices are absolutely out of control. This will not end well

[@avrumgoldman7392]

Thanks for all your great work! I look forward to your updates in 2025!

[@johnpublic168]

You did not account for forien investment in the oil industry which will take time but is making a difference currently.

[@petermaunsell4575]

Well actually he mentioned it right near the end, and said just what you said

[@mrvwbug4423]

Problem is when you have an oil economy and an AnCap running it, the average person won't see ANY benefit from that oil income, it will just become virtually tax free income for the oil companies.

[@Adfonte]

In other words, all arrows are pointing in the right direction

[@donmountford797]

@@Adfonte way to early to say that. When gdp turns positive or inflation becomes nomal to world economy not worst in world by far, poverty rate improves and wage growth becomes greater than inflation rates than we can have some faith but it is far too early to assume either success or failure.

[@Adfonte]

@@donmountford797 Fair points. That said, I'm not concluding anything in my comment, I'm just saying that all arrows are currently pointing in the right direction, how it ends up is still up in the air. There is no doubt that they are facing very difficult challenges. And it will probably get even worse before it gets better again (in a scenario where they succeed). I agree with you that it is far too early to conclude/ or assume anything yet, but have to admit that things look brighter now than 4 months ago IMO.

[@donmountford797]

@Adfonte fair enough. I would characterize it as slightly less apocalyptic but I wouldn't in any way give it anykind of positive attributes. Maybe un 12 months we can give a better judgement.

[@Adfonte]

@@donmountford797 Then our views are quite similar. After all, "sliglhtly less apocalyptic" means the arrows are indeed pointing in the right direction (for a short period of time, shall be said,).

[@donmountford797]

@Adfonte I would not say arrows up more arrows less down, which if you are an optimist is ok, but to me, it is still getting worse just at a slower rate. To put Argentinas' situation in individual terms. 3 years ago, someone could afford to eat without much difficulty. Then prices doubled, and then food became a luxury. This year, it "only" increased by 150% from an already unaffordable price. That is not better or a step in the right direction. It just means the government isn't digging the hole as fast as they were, but the hole is still getting deeper.

[@aloisio1982]

I am working with an Argentine guy. He told me that poverty has increased a lot, and the best results in controlling inflation are because the population is not buying anything.😢😢😢😢

[@sid1gen]

That is true. Even if everything were to work out for Argentina from now on, they have a solid core of 50% poor in their society. This will increase in 2025 no matter what, and probably will continue to increase year after year. Milei has done his best to destroy the Argentine educational system. Admittedly, that system was a shadow of what it had been 70 years ago, but to replace it with libertarian ideas of "education = indoctrination" is not a solution or an improvement. Without an effective state-sponsored education, the ever more numerous poor in Argentina will have nowhere to go except deeper down. They have become part of the "generational poor" who inhabit a vicious circle of despair, crime, and want. Libertarianism is an empty ideology and it has no answers to any of society's real problems. In fact, libertarians are nothing more than camouflaged right-wingers who only want socialism for the rich and nothing for the poor. So, some middle class Argentines may see their salaries go up (temporarily). Most of that country is not middle class, though, so the majority of the population will see their already low standards of living plummet. I believe poverty will go up to 60% within two years or less. Whatever happens then, Argentines will adapt because people adapt to everything: see the poor in red states here in the U.S., perennially voting for the people who keep them poor and ignorant. Argentines have decades of experience with the ups and downs of their society, and its ever deepening valleys and longer periods "down." They will adapt and get used to it. Or they will revolt and in a few years everything will be just like it is now. And if they win another FIFA World Cup everyone there will be happy.

[@tarantinopipp7455]

Exactly,milei is doing the old liberal monetary policy that only benefit wealthy and stealth from working class

[@Nemenvagyokna]

@@sid1gen NOT TRUE, it fell down to 34% in december, which is smaller less than the year before by 8%.

[@tbo2120]

Milei is gonna get this done. He said there’d be trouble but the cracks are being filled and it looks like good things are coming. Hold the line Argentina 🇦🇷 let’s see if this can be achieved! 🎉

[@Joe-ti7qd]

You seem to have lots of faith in a government.

[@WillEede]

He said so many stupid things... and then the next day he said totally the opposite. What a flip-flopper! There are so many examples that I don't know where to start to enumerate them....

[@WillEede]

the trouble was already there... and now he added even more trouble. Nothing great about this.

[@mrvwbug4423]

If he can dramatically reduce poverty, only then will he have "gotten this done", since that's not his goal he's merely going to make the books look pretty until he's overthrown when the average Argentinian realizes that he's not going to improve their lives.

[@DebeaumontCadiz]

*You work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[@BailesPosey]

wow this awesome 👏 I'm 47 and have been looking for ways to be successful, please how??

[@DebeaumontCadiz]

It's Esther A Berg doing, she's changed my life.

[@veromudia5721]

Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?

[@LysterCushard]

Absolutely! I've heard stories of people who started with little to no knowledge but made it out victoriously thanks to Ms. Esther A Berg.

[@SsssDddd-jb2cs]

Such information we don’t get from must KZbinrs, how can I get to her. ?

[@Looseleafteas]

Thanks

[@jeremypearson6852]

It was always going to be a very difficult and painful task to try and save the economy. It’s like taking over a sports team in last place and trying to make them competitive without any new players.

[@mrvwbug4423]

It can be very easy if you don't limit yourself to one economic system. Argentina is merely the first country to reach the death stage of capitalism. Once you put people over profits then you can actually fix things.

[@CornPopPomade]

@@mrvwbug4423 Peronism destroys Argentina and you blame capitalism. Are you so entrenched in your ideology that you can’t admit when it has failed yet another country or do you just lie for fun?

[@jasoncaples3831]

@@mrvwbug4423do you think Peronism is capitalism?

[@mrvwbug4423]

@@jasoncaples3831 Yes, it's a half hearted attempt at a hybrid economy.

[@KowalskyLeon]

Bloated public sector with high salaries, numerous privileges and low productivity are the biggest problems that can happen to a country and its economy. The worst thing is that politicians live off of promising and paying people with other people's money. At the end there is high public debt, high rate of inflation and collapse of the economy and poverty. This always happens when people believe cheaters and forget that wealth comes from work. See Greece, France and recently my country Poland.

[@Anti-CornLawLeague]

Rainer Zitelmann said Poland was a capitalist success story. Shame it’s not.

[@KowalskyLeon]

@@Anti-CornLawLeague Yeah, was, in the 90s, when common people believed there is true transition in a better direction and there were assets we could work on, like many Polish enterprises, less taxes, regulations lower bureaucracy, etc. Now we have huge public sector (again, but mainly it is only a huge bureaucracy, not public enterprises like before), tons of regulations, which no one can follow anymore, tons of tax regulations, increasingly higher costs of energy and fuel, and with them practically all goods and services, and an increasingly indebted and therefore greedy state. In addition, we have the US arms industry and ukraine and its citizens, several million of whom enjoy numerous social privileges in Poland, to support. In the end, someone has to pay for all this.

[@roberw1912]

I collect foreign banknotes. Argentina has been for the last 70 years an economic basket case going from crisis to crisis. Just to give context 1969 1000 Pesos to 1 New Peso, 1984 10,000 Pesos to 1 Peso Argentino, 1000 Peso Argentino to 1 Australes, then 10,000 Australes to 1 new Peso in 1994. This Peso used to be worth one dollar now it's worth less than a fraction of a cent. 100,000,000,000,000 Pesos (pre 1969)= 1 Peso now.

[@lucadappiano8758]

Best summary of Argentina's addiction of printing money

[@roberw1912]

@lucadappiano8758 thanks it's scary, I don't know how Argentines cope with this chaos.

[@Adreno23421]

​@@roberw1912they buy dollars. They literally store dollars under their mattresses.

[@mr.a7220]

@@roberw1912 survive mode for ever. But, after living in several countries, I can tell it's happening all over the west. The golden times for working class people are over. People can't afford the lifestyle their parent had.

@@mr.a7220 the middle class had good years in the 2000's where they were able to save and even travel internationally. Nowadays is only the upper/upper middle class that is still doing it. Survive mode is not forever.

[@PythonSnake]

As someone not formally instructed in economics, only interested as a citizen: The thing is that Milei is not interested in restoring the local industry. He's pushing for free market and no restrictions on imports. He put in place the RIGI, meant to entice foreing extractive companies to come here, but they will take our resources and leave, giving only a temporary salary to the local workers, and little more before they pack their bags an leave paying barely any taxes. He cancelled the nuclear reactors project with China because Trump told him so. He has an ideological battle against CONICET (National Council on Technical and Scientific Investigations), as well as any public university. He is more much likely to use the IMF's loan on keeping the current finiancial scheme, the carry trade, which gives more revenue on local pesos, so companies buy them pushing its value up (and thus closing the gap between the multiple values of the exchange rate -blue dollar, CCL, etc-). The thing is that when said companies think they've had enough and want to buy back dollars with the profit they made in pesos, the total amount of dollars in the Central Bank reserve deplete and the whole scheme trembles (as well as the rate exchange), which is what just happened with Toyota, forcing Milei to artificially intervene by buying dollars to stock up the reserves. But there are no plans in sight to become and actual industrial power. He has insisted over and over again, that Argentina was at its greatest back in the late 19th/early 20th century, being "the world's barn", selling primary goods (and them importing them them back as manufactured products). Of course, such model hinges on the world's disposition to buy from us, which, as proven by the world wars and the 1929 Wall Street collapse, are not a good long term strategy for financial stability, and are indeed the reason why even the wealthiest winners of the agrocultural market in Argentina, were OK with some mild industrialization. But Milei can't even see that far into the future, if you ask me. He's convinced that the Primary Agrocultural Model was taken down from outside, rather than collapsing under its own weight. So until then, it's all a stock market gamble, which is something the Ministry of Finanices is infamous for. You probably know this but it's the same one who took the scandalous almost $50 million 2018 IMF loan for president Macri's re-election campaing. Money which just vanished.

[@tarantinopipp7455]

You did a very elaborate comment,it deserves more likes,sadly there is a bunch of liberals southing classic liberal doctrines 😅

[@PythonSnake]

@tarantinopipp7455 thank you! I'm ideologically peronist but if Milei would protect the poor at the same time as he sets the macro in order, I could't deny the improvement. But as long as it's at the expense of the weak and vulnerable, is not worth it.

[@davidmajer3652]

Happy New Year to Joe, and all in the Joe Blogs' Community

[@aaronsanborn4291]

Milei still has a lot to clean up. Argentina is doing very well. His policies are working

[@boink800]

Milei has also been cutting the subsidy on electricity in Argentina. Electricity bills have doubled in the last year and those same electricity bills should double yet again. That will effect the poor very much.

[@hermes7587]

A bankrupt state does help the poor at all. Subsidizing electricity is a very inefficient way of supporting the poor but a great way of wasting tax payer money.

[@boink800]

@@hermes7587 For people living on $200 a month, their electricity bills were around $15. Now they're more than $30 (doubled), and that amount should double again.

[@boink800]

@@hermes7587 Many in Argentina earn only $200 a month. Electricity bills were around $15 a month. Now those same bills are over $30 a month. Soon those bills will go over $60 a month.

[@boink800]

@@hermes7587 Many in Argentina earn only $200 a month. Electricity bills were around $15 a month. Now those same bills are over $30 a month. Soon those bills will go over $60 a month.

[@WuFu-ku8si]

@@hermes7587 For those Argentinian people earning $200 a month, electricity was around $15 a month. Now it has doubled to over $30 a month. Soon the rates will double again to over $60 a month.

[@stroke_of_luck]

You haven’t discussed the change in oil production in Argentina. Most of the old GDP was in burocratic wages. The new GDP will be in production of useful things

[@billgoedecke2265]

If there is only a small or nonexistent consumer economy there will not be investment even if the inflation rate stabilizes. A lot of the future “wealth” of the economy will be to service foreign debt.

[@Joe-ti7qd]

Gdp is a meaningless number anyway

[@send_love]

@@Joe-ti7qd gdp is not meaningless.

[@alexgj8946]

​@@billgoedecke2265Energy products are in demand and easy to export, Argentina has people and thus, a market, inflation is already stable if you look at monthly graphs and argentinian debt "low" at 70%. Are you a bot?

[@zotter2542]

​@@send_loveIt is without other indicators.

[@PansWife1]

Yes, the Argentine economy was a mess, but progress has been made by mainly hurting the middle class and the poor. The country’s poverty rate rose to 53 percent from 40 percent in the first six months of the 2024. Slashing investments in universities, research centers, anti-poverty programs, and health care makes for a bleak future. He seems to especially target soup kitchens, even private ones, while codling polluting industries and promising them resources that will result in environmental destruction. The rich and upper class are doing much better in Argentina, but many others are suffering and will continue to do so without any safety nets. No wonder Trump and Musk love the guy.

[@ambessaseway5594]

Exactly stop spending/firing people to have a surplus is a short term success but you still have mass poverty/unemployment

[@lucadappiano8758]

Last estimations put the poverty rate at 38.9%. That's lower than last year. Search for UCA or Torcuato Di Tella numbers, two respected universities.

[@F3r-xg1zr]

You have outdated info. Poverty is now at 38%

[@bryanpritchett]

​@@F3r-xg1zrSlightly less of a disaster is still a disaster.

[@jerrygarcia4390]

Deep trouble??? Where have you been since 1999???

[@lellyparker]

There are two types of video on KZbin. Those that claim Argentina's economic changes are a total disaster and those that claim Argentina's economic changes are a roaring success.

[@michaeleldredge4279]

I don't envy the situation Argentina is in and I agree that this is probably the best outcome that can be expected. That said, I am reminded of an old political adage. "If the metric is bad, report the derivative. If that is bad too, report the second derivative." Focusing on the reduction of the inflation rate is clearly reporting the second derivative of the price level.

[@send_love]

yep. you got that right. but at least we are getting a reduction there ^^

[@mrvwbug4423]

The poor will only take so much of being broken by Milei, when they realize in a year or so that better times are not coming for them they will overthrow him. Argentina is simply the first country to reach the death stage of capitalism. Milei is just setting himself up for a communist overthrow since he's making the books look good by breaking the backs of the poor. I just hope the US chooses to not intervene when that time comes.

[@eduardobatasuna8398]

Selling the country to imperialists countries... what a good answer to al their economic problems, whoa! 😂

[@a.a.alexander6030]

Argentina is not someone with flu, recovering at home. Argentina is like a Covid patient in critical condition, hospitalised in a high dependency unit.

[@ohhhSmooth]

And is currently being treated with restriction of water and food (aka austerity).

[@chrischreative2245]

@@ohhhSmoothThey had 80 years of Peronism and socialism. It takes more than a year to fix

[@ohhhSmooth]

@@chrischreative2245 You will never fix an economy by cutting spending. How many countries need to be destroyed by neoliberalism before we dare to understand basic economics again? Also Argentina was under IMF pressure for at least two decades. It‘s not like this mess was entirely caused by socialists.

[@tacnasurf]

@@ohhhSmooth actually the current treatment is real medicine and healthy food. Didn’t taste fine at the beginning, but the benefits are clear.

[@frankdwyer7051]

The Argentina turn around is approaching miracle level economic improvement.

[@kennethsharp9666]

It is no miracle. It is what happens when you stop grand scale graft and end central planning. It is not a miracle as the pain is still real and it has a long way to go where much can still go wrong.

[@Carlos-im3hn]

@@kennethsharp9666 free-market capitalism combined with Austrian Economics and good (non-inflationary) finance.

[@brianfhunter]

@@Carlos-im3hn - Thats pleonasm.... Free Market Capitalism IS Austrian Economics... But even the most extremist libertarians here in Brazil are very surprised how fast the improvement is going... we know it was going to work, but not that fast... the numbers we are seeing now, we expected for December NEXT year.

[@TrutchMan]

The miracle is just reaching the economic especulators.

[@mrvwbug4423]

Putting half the population into inescapable poverty is an "economic miracle"? You can call it an economic miracle if he can bring the poverty rate down to western levels, until then he's just milking the remains of a failed state to enrich the billionaires.

[@hhgg28]

Argentina was sick at least for the last 75 years, in intensive cares, every indicator shows that it won't survive. The doctor changes, Milei came, and in a year, it is in a room, with still some fever, not full healthy yet. And You, joe, are making the comparison to a fully healthy country that never being sick at all. So out of reality. Argentina for the first time in nearly one hundred years is doing well, is recovering and putting the country upwards. Do you realy expect to do that in one month??? With the Parlament and the Unions pushing backwards??? Are you so out of reality??? I am really surprise of how fast and well things are getting better here. You may have to change your tittle Joe, Milei may succeed, and you may get in deep trouble of lost of credibility. Love.

[@davidmiller8446]

Very nice coverage of a complex and rapidly changing situation. Good luck, Argentina!

[@kmarks97236]

You should do videos about the UK

[@MarcoMenozziPro]

in Argentina there is no longer a relationship between interest rate and inflation because the state's cost cuts have been more than sufficient to reduce consumption and prices.

[@MoonBerryShrimp]

7:00 THANK YOU for looking at the Blue Dollar exchange rate. So many people get that wrong. Many stats are based on the fictional "official" rate.

[@faithrada]

Yes, a huge piece of information. Joe is a wealth of info.. 😊

[@josei.nazaranchorena2142]

beed in arg increased less than 20%, december 23 to december 24; minimum wage increased 150% in the same period; bread has increased less than 100%; milk has gone up more than 100% (not rare, considering that our dairy industry has been demolished by years of peronists that hated our farmers and attacked them with control prices generating severe declines in production)

[@lonihollenbeck4654]

This guy took a lot of flak when he first started out, vested interests don't go quietly into the night. The promising thing about him was that he came out of the financial industry, so he apparently knew his way around, or at least that was the prayer. Fast forward a year and TA DA!!! It looks like our chain saw swingin' politician knew what the hell he was talking about. Good show, Javier.

[@donmountford797]

Disagree. 150% inflation, 57% poverty, shrinking gdp (and looks like it is getting worse), falling peso. Needs foreign investment $$ but no one in their right mind would invest in a falling peso with 150% inflation. Perhaps in 3 to 5 years, we will see some progress but I feel for the Argentinian people.

[@donfalcon1495]

TA DA😂

[@alejandrowatson7667]

Excelente resumen. Muchas gracias. Feliz Año Nuevo. Un Argentino-británico 😢

[@sumdude4281]

Inflation is terrible, but a dream compared to being unemployed. I have been "lucky" enough to live through the Great Recession and inflation and I can tell you I would take inflation EVERY DAY over recession.

[@muiponcomuiponco772]

That's because you didn't experience stagflation-recession + inflation. That was the situation before Milei took office. In 2023, the GDP dropped by 1.6%, and we ended the year with 220% inflation. Now, inflation is decreasing, and the economy is recovering.

Argentina in 2023 end: 50% poverty, recession (for several years), no new jobs since 2013, and 25% monthly inflation.

[@fabiofaria4243]

Great video!

[@emafxlatam]

Milei is the Best president of Argentina`s history

[@CarpeDiem13x]

No perro, para nada - tortazo

[@emafxlatam]

@CarpeDiem13x Nobel Prize to Milei 2025> remember..

[@deansch6089]

Afuera!

[@JoaoSantos-qz8yp]

Pretty low bar

[@emafxlatam]

@@deansch6089 que curro se te habrá cortado...

[@petermaunsell4575]

Great work Joe, thanks for bringing it all together for us.Because you give us so much info at once many people miss bits and then comment on things they think you didn’t say, which quite clearly you did. It’s a it like watching a weather report on telly, waiting for your zone to come up and then missing it completely, I hate when that happens. I think you also attract certain types that are smart, and particular, shall we say. God bless’em! Happy New Year Joe

[@richardlellip.e.m.b.a.7969]

I'm a big investor in Argentina's Lithium and Oil & Gas reserves that have been exploding -- Conversely, Britain has about 1% of the World's Capital Investments, compared to America's over 50%, which boosts productivity & per capita gdp.

[@AC-qf7gb]

Which stock do you have

[@richardlellip.e.m.b.a.7969]

@@AC-qf7gb can't give that information since investors might be shorting against me.

[@juhajuntunen2557]

I would say that Argentina is healthy when inflation is less than 10%, unemployment is less than 7% and inport/export is quite balanced (or export is somewhat bigger).

[@chicanicajfcp]

Sure, we will get there in two years. In the meantime people are geting better. Things improve but it takes time to get great.

[@muiponcomuiponco772]

The last two have already been achieved. Unemployment is at 6.9%, and we have a trade surplus (exports minus imports). As for inflation, it’s still above 10% annualized, but the trend is downward.

[@nekad2000]

And yet Joeblogs will tell you it's collapsing. I remember 2 years ago when turkey had 60 before crashing. Still waiting for that. This guy is an idiot.

[@archlich4489]

Be well, Argentina! Respect from North Carolina

[@zotter2542]

@@archlich4489 Nobody cares about you coming from North Carolina. Weird comment.

[@louganshahn2620]

Milei, the south american Messiah. Thanks to him all south america shall follow.

[@kaylidington]

Milei has a difficult situation to try to manage and control but, despite the pain to the population, there a signs that he may be achieving some success. Sad then to hear the regime start to focus on another conflict over the Falklands. The last thing Argentina needs is another bankrupting military buildup and conflict. That alone is enough to deter investment.

[@Kingcarparpeggio]

Good point…..take a look at Russia and ask “ Would you want to invest there”…….No thank you !!

[@lukelynch5158]

Plus we are itching to test are new battle ships out ! He really doesn’t want to FAFO 😂

[@backgammonbacon]

@@lukelynch5158 You mean the two aircraft carriers equipped with state of the art aircraft?

[@lukelynch5158]

@@backgammonbacon not lost many wars pal 👍🏻

[@Tummie39]

Very manipulative and misleading title. They are actually much much better. The drop in GDP is due to all the laying off of useless government workers.

[@cmeyerhoffer1]

@@Tummie39 You are entirely wrong. The situation is getting worse and worse than before.

[@user-je3sk8cj6g]

Inflation was at 25% per month when he took office, now it is at 2% per month, which gives 26.9% annually if the rate was fixed, but it is not, it is still decreasing. This means that ANNUAL inflation for 2025 will probably range around 15% and for 2026 will be in a single digit - perhaps even between 0.1-2%. You're lying through your teeth, Turkish inflation and many others are already worse than Argentina. Food inflation is bellow 0.8% monthly now - it is actually lower than here in Brazil where I live. Stop your lies. Poverty went down to 38%, whereas it was 41% when he took office. It went up to 51% briefly, but now it has already declined to a level bellow that before he took office. Unemployment went from 7.1% to 6.2%, and in the third trimester of 2024 alone, Argentina grew 3.9%. It's important to take notice that all of these data are from the third trimester (from July to September) because the data for the Q4 will only come next year, thus the expectation is that the economy of Argentina for 2024 is even better than the already miraculous numbers for Q3. I just simply can't understand why do you keep lying so shamelessly - stop taking annual data when there's just a single year of data, meanwhile the month by month data shows impressive results. It is more than dishonest, this smells like malevolent lies. You're just simply a dishonest and untrustworthy source - now, the only thing I'm left wondering is what is your agenda with all that manipulation and falsehood.

[@manzana5713]

Click baity videos get more views. The inflation on food was zero this week.

[@Iwqrxtwuvk23547]

Your the one lying about him lying the official government reports and even third party analysis of the economic figures so far released to the public point at this and he comes to the same conclusion as you that they are getting better so don't slander him with your aggression.

[@Iwqrxtwuvk23547]

And he is the one with actual quotes and references where you come up starting a fight.

[@manzana5713]

@Iwqrxtwuvk23547 Listen buddy. I live in Argentina where I work as a data analyst and I deal primarily with macro economic data. The original poster is right about everything and there's no need to give any references because it's all over the news - even C5N has mentioned it.

[@Iwqrxtwuvk23547]

@@manzana5713 yes but everything he used as a reference in this video is correct right?

[@Jason-fm4my]

Great charts this time. thanks for making a stellar effort once again.

[@chicanicajfcp]

Poverty is NOT above 50%, it has gone down considerably and is actually from the latest numbers lower than it was when Milei took over and around 38%. Purchasing power has gone up since mars every single month. 22 second of december taxis on imports got considerably lower and some merchandize got up to 75% cheaper. Though argentina is in a dolarisation phase at the moment they have not been in the past. They have changed peso to dollar for saving purpose for a long time but except for big deals like buying/selliing a house etc all prices has been in peso. You could not pay in dolar in regular stores or buying food etc. However, now that has changed a bit but this is fairly new. There are complex reasons why the high interest rate did not have that much effect on the inflation but dollarisation is not one of those reasons. Milei performs miracles, and though it's a long way to go and it will take years to have a functional economy things are getting much better. Argentine opens up for more international trade. Short term competicion will have a negative impact since argentinian companies has not had incentives to be efective in the past. Long term Argentina will be a real tiger economy.

[@ProfessorFickle]

😂38% …China and Argentina cook numbers apparently . Yes GDP did improve because of the ~800 million The IMF unlocked for Milei in late June 2024. But poverty reduction in quarter are cooked numbers 😂

[@kennethsharp9666]

Milei is on course, but he is not a miracle worker. Even doing what is good for any economy (open competitive markets, not central planning) Argentina still has issues and must compete in the international markets. A tiger of an economy in any relatable future is a bit over positive.

[@offbrandsoup2579]

Citation needed

[@aidar3069]

​@@offbrandsoup2579Ministerio de capital humano, usando fuentes no-oficiales

[@rodrigofernandezmattos1583]

​​@ProfessorFickle Cooked by whom, those numbers are not only from the Ministry of Human Capital, similar figures have been projected by the UCA in a separate study.

[@markhathaway9456]

Here in America, as our inflation rate was coming down, the monthly rate was fine while the annual rate was too high. What to do? We just kept going until everything falls into line. Now, it's all good.

[@ehc1680]

I'm your big fan from South Korea. Always thank you for your nice videos!

[@pablog5738]

The inflation vs interest rate relation you state is correct, but with a caveat: the interest rate is the future value of money, while the inflation is the reduction in money value in the previous year. Reducing the interest rate is consistent with the expected future inflation.

[@procon2022]

Excellent Video as always, Joe!👍 Now, in the case of Argentina, tue next most crucial question will be that of Investment Protection! Private Investment will come, following three key conditions: 1. Investable ASSETS 2. Security of the investment and their ownership status on the long term 3. Free movement of funds guaranteed. I think, it'd be worth making a separate Video on these 3 aspects...?✌🙏

[@AlvaroMartinez-ex3sh]

Check out the RIGI

[@buarque.alexandre]

Why is inflation going down?

[@Max_Power_]

Stop the emission of money.

[@jager6863]

The way you do reform, is all the "Bad News" at once, slash the government, reform everything and then wait. Eventually, if you make the right moves, things will slowly get better. Milei is turning around a Super Tanker, not a Row Boat and therefore it will take some time to change direction, but it will happen.

[@Carlos-im3hn]

Milei does have a chainsaw too ! Cheers.

[@stevenhenry5267]

Right wing nonsense

[@Tony-zg4yf]

​@@stevenhenry5267Really? 75 years of left politics are not enogh? The decline of Europe under leftists is not enough?

[@VincentConti-m5j]

Say it ain't so Joe. I just watched another show that said things are doing very good. As a person living in South America. Peru😊 we hear different. Even during the bad times when i visited Argentina it beat the hell out of Most of the planet. Nobody is hungry. They are not squished into a small island that can't even feed itself😮 always look on the bright side of life...imagine whistling😊😊😊

[@Carlos-im3hn]

Yes. Peru and Venezuela are probably worse off. But let's focus on the good vs. the other issues. By focusing on the good Milei has achieved...the other worse off can follow his lead. Argentina still has a very large $44B IMF loan...which other (worse-off) countries could not possibly support. So we can look at and comment on both Good and Bad conditions. All good.

[@VincentConti-m5j]

@Carlos-im3hn you missed something in my comment. Peru is doing great!

[@VincentConti-m5j]

@Carlos-im3hn I think Carlos is a shill!

[@scrubadub8485]

thanks for the update.i have heard others saying pretty much the same thing, also heard his popularity is going up. thanks again.

[@rbs9131]

Thanks for the update. Can you comment on how the people who have been pushed into poverty cope and has there been an increase in the death rate.

[@fernandobanos7255]

Argentina is starting to grow. Inflation is low and GDP will grow at 5 percent in 2025.

[@Joe-ti7qd]

Grow through government spending and debt. 😆

[@TrutchMan]

​@@Joe-ti7qd not sustainable growth. Is growing thanks to cuts to pensions and coercing the population to use savings in US dollars to pay unaffordable prices for basic necesities.

[@necocheabattcock4730]

@@Joe-ti7qd El gobierno de Milei no toma deuda nueva y viene reduciendo fuertemente el gasto.

[@tadmarshall2739]

Aside from the click-bait headline, this was educational and helpful. I love the idea that insane inflation can be cured if the right things are done. I hope that Argentina can fully escape the hole they were stuck in.

[@Digmen1]

Yes, its coming right slowly Argentinians are going to have to get used to working a 40 hour week (not 24 hours) and not expect so many government handouts

[@Chicago48]

I do wish JOE would have some experts or natives of these countries to talk to. I want to hear from the people who live in these countries.

[@davidlindburg1921]

Great work Joe, look forward to 2025 vlogs👍

[@christianlibertarian5488]

Even at 2.5%/month, inflation is too high in Argentina. That is roughly 30%, which is still among the highest in the world. So I don’t look for the Argentine interest rate to drop too much from where it is now.

[@F3r-xg1zr]

If this december we have something around 2,5% Milei will cut the crawling peg to 1% in January. That will push further down inflation and interest rates. I will not be surprised if monthly inflation goes below 1% during the third quarter of next year.

[@christianlibertarian5488]

@@F3r-xg1zr The balanced budget suggests that new pesos are not being created by the government. That is a big deal. If the books stay balanced, I agree that inflation will dip dramatically in the next year.

[@dadaistaingegniere]

Milei has made a heavy cut on deficit spending so now there's superavit to use to eliminate taxes next year. In top of that GDP did not decrease and poverty dropped. Big success for Milei. He's a genius.

[@colddeath9797]

Hi! Your divided kingdom is in deep troubles, Argentina is alright

[@LeonMortgage]

Did you even watch the video?

[@healthygrowth7760]

😂😂😂😂😂😂😂😂😂😂 argentina with highest inflation in the world is OK 😂😂😂😂😂😂😂😂😂😂

[@graemebuchan1919]

Still angry about losing the falkland Islands ?

[@yomanyo327]

As a big fan of both the US and Argentina, you can go buzz of with that bullshit, and nobody whose honest with themselves would ever pick Argentina over the US, at least economically speaking.

[@dv4497]

You do not have to attack another country in defense of Argentina. If Milei could turn Argentina into the UK - that would be a miracle.

[@danielmiryt2]

The most important point is missing in this review, the cultural battle, Milei won the war against the collectivist and socialist, so that is giving him the credits to achieve his goals, and reduce size of the government, which is the main problem.

[@uxigadur]

It is a deep wood. We are walking the walk, for a first time in a long time, with hope.

[@stevenhenry5267]

Lol. Your country is going to be sold out to corporations.

[@WillEede]

get ready to get lost in the woods then. Hope doesnt help. A compass does.

[@mattanderson9681]

I speak Spanish and spent a lot of time in BA. I know people there. Most are quite happy with the situation. But things take time to resolve. When Pinochet took over Chile it took years. Chile is now one of the best economies and better democracies in S. America. I do acknowledge Pinochet's black marks. If not for Pinochet Chile would now be like Cuba or Venezuela. Many will disagree. Hard to prophesize. And yes, if you go to Argentina take lots of dollars! Everyplace has a strong box. This is part of Argentine culture.

[@ambessaseway5594]

Stop Spending/firing government workers is 1 thing but having mass poverty/unemployment over 50% is another

[@fedpo6022]

You have outdated information. Look the november info about poverty (also unemployment and poverty are diferent things)

[@hermes7587]

If there is no economy, there are no jobs and no taxes. All economic policies have to start with encouraging economic activity, not with spending money, the state does not have. Most people prefer having an actual job over state subsidies for doing nothing.

[@Mike-lb1hx]

the comparison of annual inflation to base rates is misleading due to the rapid drop. If inflation stays at 2.7% / month thats roughly 38% annual inflation or roughly equivalent to the interest rates

[@reeltalk9242]

Milei America loves you‼

[@liberalaccidental]

Inflation is down to 2.7% in November and will be less than 1% in December , FX rate is down, country risk is down, there’s a fiscal surplus, there was substantial growth in 3Q, consumer credit is growing, and finally, poverty is coming down significantly. By any unbiased measure, Miles’s 1st year in office has been very successful

[@bamahama707]

Where would they be if Milei had lost?

[@ProfessorFickle]

🤷‍♂️Lebanon 🇱🇧 before war ~2021. Milei initial economic shock in December/ January caused private sector job loss & currency devaluation and initially increased inflation …. Made the Argentinian recession worst. Thanks to ~800 million usd unlock loan 💵 from IMF in June 2024. And cutting costs. Inflation improved .

[@ohioguy1946]

As others have said, this is a bad title for the video - obviously Argentina is still in trouble, but they’ve improved significantly the last year - the picture and title makes it seem like they’re still heading in the wrong direction.

[@BrianBetron]

Nice job

[@prof.leomurga]

That’s the laziest explanation about inflation I’ve seen in a while. Argentina suffers from several types of inflation, namely inertial inflation, cost-push inflation, etc. However the case may be, Argentina’s inflation is not driven by demand, that’s why the interest rate is almost useless to curb inflation.

[@jasonplante191]

Milei is someone to be mirrored across the world

[@Carlos-im3hn]

yes, Milei is a hero.

[@dsarbora]

The fact that this is working should come as a surprise to nobody. The fact that it does come as a surprise to so many should scare everybody.

[@PeterBergstrom-vv2sl]

Thanks, Joe. Informative as always!