ARGENTINA on the Edge - 276% World High Inflation & Peso Crashing - is Milei's Plan Working?

[@JackWalsh-d7h]

Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions

[@CoreyLloydo]

The US dollar is losing value due to inflation, while other currencies are gaining strength, creating uncertainty. Nonetheless, many people remain confident in the Dollar's perceived safety. I'm concerned that my 420K retirement funds may lose value, therefore I'm looking for other financial stability.

[@RhysHuntoffice]

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[@CoreyLloydo]

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[@RhysHuntoffice]

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[@CoreyLloydo]

Wow, I just Googled her whole name and found her platform. Thank you very much for bringing this to my attention, I will definitely get in touch with her.

[@azerko]

Last week was the first, in the last 30 years without food price increase

[@jaccobmau294]

Javier Milei didnt come to power until December of 2023 so he came in at the peak of the inflation.

[@michoacan55]

inflation went up like 100% under Milei, he made the new peak

[@dmpk9716]

​@@michoacan55 Monthly inflation is decreasing rapidly since Milei took over. That's what matters if you're gonna judge him fairly. Not annualised numbers he had no control over. Prepare for monthly deflation next.

[@kukyortega2290]

@@dmpk9716it’s like having money in your pocket because you didn’t pay your bills. All the damage was made by Milei, productivity dropped to insane levels. He must leave asap.

[@reinhardtburger7108]

​@michoacan55 do you know how to read, the inflation has gone down under him. Stop being an absolute idiot

[@salvadorzorraquin8864]

​@@michoacan55 wrong December 10th 2022 to December 10th 2023 (date of milei taking power) inflation was 211% even though they had an insane amount of price controls. Taking this into account and the fact that previous government emitted more than 5 times the total circulating monetary base, it's easy to see that Milei has made some incredible progress. However it's still far from sufficient, but as he steers to solve other long/medium term problems it will become more evident, as time goes by, how inflation will not only slow down but will cease to exist. inflation 2023: 221% projections of inflation 2024: 140%-180% projections of inflation 2025: 30%-50%

[@xeflatio93]

I'm from Argentina, just to clarify one thing regarding why Milei is reducing the interests rates and keeping them negative against the economic theory to battle inflation. The situation in Argentina is different because in Argentina there is no credit loans banks don't borrow money due to the high inflation of the peso, is impossible. So what banks were doing is to borrow their money to the central bank with high interests for Leliqs which are some sort of 30 days bonds. This situation was creating a growing problem in the near future because as long as you keep your money in the bank renewing the Leliqs then nothing happens however if people decided to take their money out then the government will need to pay out all the compound interests that were formed. There was 4 times more money in Leliqs than in the entire economy, so you can imagine that the amount of money that you needed to print would automatically cause a hiperinflarion. But all of this was not free, paying those interest were causing a 10% cost from the GDP an immense debt that if Milei raised the central bank interest rate that means that it would grow even more but instead he decided to do the opposite and reduce the interest rates to deactivate the growing bomb of money. Thanks to that he reduced 80% of the total Leliqs which is amaizing for the economy reducing the cost of interests to only a 2% of GDP soon to be 0%

[@Tempestelterna]

Thanks for the context and Milei is doing a great job from what I can see! 🎉

[@baussocks]

www.bcra.gob.ar/Pdfs/PublicacionesEstadisticas/infomondiai.pdf

[@baussocks]

where u find that he reduced it by 80%?? send me a link i would like to se it :)

[@ProfessorFickle]

IMF Data and ‘pro Argentina 🇦🇷 opinions’ are different .

[@dontsupportrats4089]

Do people in Argentina like or dislike the US? In general I mean. Never talked with anyone from there before.

[@aikotoba99]

Fixing this will take time but I'm rooting for Argentina. This problem didn't happen overnight and it won't be solved overnight either. The West should extend a hand and just help them out. No loans, just give them some aid. I live in the US and have traveled to Argentina and I loved it there.

[@abjectt5440]

It's sad. Argentina is blessed with many natural resources. They should be doing well.

[@ProfessorFickle]

Has no important Resources … like Light-Crude-oil.

[@floydlooney6837]

They would if it weren't for decades and decades of socialism

[@ProfessorFickle]

@@floydlooney6837 : lol 😂 Panama Canal opened about ~1920, cargo ships DONT need to travel around South America , International investment Stopped 1929.

[@Paul-y7z8y]

@@floydlooney6837 LOL

[@brawndothethirstmutilator9848]

@floydlooney6837, Even worse. Decades of Peronism.

[@hhgg28]

Yes, this was better than the one before, here you show the monthly inflation and you can see that is getting down very quickly, of course you cannot expect to get from 25% to 0% in only 1 month. Things are going exactly as Milei said in his first speach on december. He is the first argentinain president to tell the truth as hard as it comes, that is why the people was willing to make the necesary effort. The country was really upside down, and it was not Milei's fault, just our sad and childish history, I hope this project succed and once and for all we can become a serious country. (btw, I didn't vote for him, I was a little scared he looks too crazy for me, just vote for noone, but now I feel he is doing the right things).

[@leoninocat5070]

Yeah, and the " casta" is paying all

[@spektrumB]

I wonder if it's because Argentina is in the process of adopting US dollar and abandoning peso. Everyone is dumping peso hence the crazy devaluation of the currency. If there is a way to measure the inflation using US dollar in Argentina. I wonder how the inflation figures will look like.

[@thiagoribeiro021]

Crazy Devaluation? lol. there is almost no devaluation the oficial graphics show dólar used by the gov not the real dólar that is called dollar blue in Argentina

[@floydlooney6837]

I don't think they've started that yet

[@brawndothethirstmutilator9848]

@thiagoribeiro021, 200%+ inflation absolutely is indicative of devaluation of the currency. Looking at the parallel dollar doesn’t make that go away either.

[@thiagoribeiro021]

@@brawndothethirstmutilator9848 the parallel was twas real rate called dollar blue so there was not a huge ddevaluation They had almost 10 different dollar official exchange here Even if you look the graphic you can understand that if you are not super dumb the sharp decline occurred once because the official rate is now the real rate that was already before Govt was subsidizing lower dollar for especific operations, nobody was selling dollar at that value except by the govt Everybody was paying for the subside indirectly so it did not change nothing for people , actually things are clearly getting better down there

[@shadetouchcatchemall5134]

Inflation is a measure of currency, if u measure with us dollar you would ve same inflation as USA. Cuz inflation is a measure of the CURRENCY, not the economy.

[@renaissancenovice7202]

You can't use the "official" exchange rate for pesos going backwards because everyone knows it was completely fake. To get the actual exchange rate, you had to look at the black market exchange rate, ie the rate of exchange it would take to actually exchange one for the other.

[@FrikInCasualMode]

Agreed. No nation likes to admit openly their currency is not worth the paper it was printed on. Governments will lie just to keep appearances.

[@johnhaller5851]

The beef is so expensive because Argentina had a big drought, the grass wasn't growing, so the cattle weren't putting on weight. The rains finally returned this year. This also contributed to inflation, as there wasn't much beef to export.

[@tube.brasil]

Beef goes to China, that's why it is expensive.

[@daemianbox]

Not true. The beef was going to be more expensive regardless of the drought. If you knew the country's dynamics, you'd know that our inflation has an speculative component.

[@johnhaller5851]

@@daemianbox It's a sample size of one, but my son-in-law's uncle owns a cattle ranch. He lives in Buenos Aries, so doesn't do the day to day work. But he was recommended to sell all of his cattle in 2022 because there was no grass to be found. It takes a long time to rebuild a herd after it's gone. The last time there was a drought like that in the US, beef was cheap for a while because they were selling all their cattle, then got very expensive when that supply spike was over. I haven't heard from him since then, he was trying to hold on. I did enjoy the fine Argentinian beef on that visit. You know the situation better than me in terms of the speculative inflation, but I'm sure the drought also reduced exports, which makes it hard to get foreign currency to pay for imports like oil, which is another aspect of exchange rates and inflation. Gasoline was one of the few things being sold at what appeared to be market prices when I visited.

[@markusgorelli5278]

@@daemianbox You can't rid Agriculture from speculation. The Farmer has to speculate if the weather will be good - should he plant now or later. He has to speculate on what other farmers around him might do. I have family who switched between watermelon and peppers depending on the time of year. Then someone decided to convert their estate to watermelon and the oversupply crashed the market. So he noped out and stuck to peppers as he had food processors who would take it off his hands.

[@brawndothethirstmutilator9848]

@markusgorelli5278, You misinterpreted his comment. He wasn’t talking about speculation in agriculture, he was talking speculation in currency exchange driving inflation. Argentines have a long tradition of holding their cash as anything other than pesos, a d there is a complex history of government attempts to block this and parallel exchanges and exchange rates as a result.

[@Rhyas9]

Argentine Peso: Man, no one wants me. Russian Ruble: Yeah? Tell me about it.

[@EinFelsbrocken]

BRICS: 👁👄👁 *hlep*

[@mikepants3736]

@@Rhyas9 Zimbabwe dollar: Hold my 1 trillion dollar beer. 🍺

[@usamoronocracy526]

Reminbi me !!! I'm in there as well !!! They never Remember me !!! 😭😱😭

[@Jimmy-ye3wg]

The difference is that the Russians can export and manufacture, Argentina can not. Its only a matter of time before the people throw out this idiot, and join the BRICS community like Brazil next door.

[@angelarch5352]

I hope Argentina continues to improve. Fun dog ball at end!

[@sniperduells]

Dont cry for me Argentina, because I dont have your problems.

[@rednose1966]

If you live in the US you do have the same problems. It’s called deficit spending money printing and endless inflation. Here in the USA we’re doing 1,000,000,000,000+ every hundred days of deficit spending. Thank you uncle Sam

[@peterp79]

Great update.

[@hanankevich5762]

Thanks!

[@annehersey9895]

Thanks for keeping us informed on Argentina. I really want it to succeed!

[@subhrajitgupta5535]

Increase agri produce by multifold and distribute for next 1 year, as prices go down. People can eat and live and manage buffer time to fix rest.

[@vonsilverhagen]

Inflation is tricky. Lets try a calculation: If you buy one snickers for 1$ yr 1. Next yr it went up 0.25$ to 1.25$ = 25% inflation. Next yr it went up 0.25$ more to 1.5$ = only 20% inflation Next yr another 0.25$ to 1.75$ = only 16,6% inflation.. And so on…. The rise in $ is the same every yr.

[@ricardokowalski1579]

14:30 The traditional theory is to keep interest rates high to prop up the falling value of a debased currency. Milei halted the money printer, so there is no need to have high interest rates since there is no further debasing of the currency.

[@shadetouchcatchemall5134]

Exactly, increasing interest ratio would only ve made the massive debt to go higher.

[@todo9633]

Ultimately, when a currency is artificially inflated or deflated, fixing the situation will always be an absolute disaster. I'm less worried about Argentina, and more worried about Russia and China, both of whom use similar tactics to manipulate the worth of their currencies and are far bigger players in the world economy.

[@Joaodocaminhao0234]

Thank you

[@williamrossetter9430]

One of the finest channel on KZbin regarding international finance. Passing this information to my wife's family who own assets in Argentina. Thanks, Joe!

[@effexon]

waiting to see first positive Joe blogs episode in 3months.... from argentina.

[@asdasdasddgdgdfgdg]

What I dont understand is Dollarization. Why not Euroization instead?

[@hydroac9387]

Because the Dollar is the reserve currency.

[@asdasdasddgdgdfgdg]

@@hydroac9387 but thats wrong. The Dollar is the largest reserve currency, not THE reserve currency.

[@user-je3sk8cj6g]

Because the Euro is just another sh*tcoin

[@brawndothethirstmutilator9848]

@asdasdasddgdgdfgdg, Argentines prefer the dollar. They have used it as a “safe haven” from inflation for decades.

[@TheShadowOfZama]

@@asdasdasddgdgdfgdg It's probably a matter of convenience and accessibility. Turks are dumping the Lyra too, but I've heard they don't mind taking Euros or pounds instead of dollars. Of course Turkey is a lot closer to Europe and does a lot more business with Europeans so for them it might not matter that much whether they're being given euros, dollars or pounds, whereas Argentinians might find dollars more convenient all things considered

[@DebLent]

I hope this guy can really get Argentina going I'm pulling for him.

[@floydlooney6837]

Argentina is finally doing the right things to fix it.

[@dd-uy5lx]

its a decoy, its collecting money for a short term. Any idiot can do this, the real problem is creating new tax revenues while keeping people employed. Evneytually he cant collect taxes if most people out of work

[@stefanweilhartner4415]

@@dd-uy5lx if no extra money is being printed and the government only spends what it gets, everything is fine.

[@Jaysqualityparts]

He needs to stay away from China.

[@hydroac9387]

Regarding interest rates, it sounds like Erdogan of Turkeys policy. It didn't last long in Turkey, and Erdogan reversed course and pursed a conventual strategy

[@2468gold]

I buy Argentine products to help them get through this and help employment. Pampa direct, Amazon etc.

[@ArtVanAuggie]

Juan Peron got Argentina firmly attached to the government teat. This new administration has to break that if Argentina is to become what it was on the road to become. Economic success is dependent on a class structure with a path for those wanting to put forth the effort to move up. Peron destroyed that. Maybe Javier Milei can change that. Good effing luck.

[@wbwarren57]

Great video! Thank you! What would the world do without “Joe blogs“? Where would we get in-depth data driven coverage like this?

[@stevenjohns-savage7024]

Thanks guys 😊

[@b.questor]

When I don't see Joe daily, something is missing...

[@shadetouchcatchemall5134]

We dont ve 276 inflation btw. Its at around 140. Grabbing it from year to year is a huge mistake cuz past year we dudnt ve free currency exchange ratio.

[@netizencapet]

It is called REDENOMINATION: Brazil and Russia did this in he 1990s and it worked well by any standard. They had less external debt than does Argentina, but even so, redenomination coupled with very clear fiscal limits policy at least temporarily, is the way to go.

[@Jason-fm4my]

I can't believe Zimbabwe still has 57% inflation. Don't they have a new gold backed currency? I guess that didn't work.😅

[@ProfessorFickle]

Fools-gold backed-currency 🤦‍♂️.

[@nickhtk6285]

Thats okay, they are joining BRICS so everything will be fine /s

[@jonathanpersson1205]

Zimbabwe ruined by decolonisation

[@user-je3sk8cj6g]

​@@jonathanpersson1205 Zimbabwe ruined by socialism

[@metalsteel5631]

its only been a few months, you can't fix stupid instantly. it takes time.

[@ADobbin1]

the thing is that it takes 5-10 years for fiscal and monetary policy changes to have a noticeable effect on the economy. In democratic countries this means that the effects start happening a year or two after the person who made the changes has been chased out of office and replaced by someone who undoes those changes because they aren't popular in the immediate future. Personally I find it rather telling who is right here based on who voted for millei. The poor voted for him, the rich voted against. Kind of tells you everything you need to know about whether hes doing the right thing.

[@cieloabatido]

I think it will be quicker. In our experience from the 90s, it took 2 years, but we have lived through many crises and a lot of bureaucracy that constantly changed the economic rules. People doing business in Argentina are quicker to respond to the changes.

[@Typexviiib]

Hes had excellent success so far, but it will take time for the full fruit to ripen

[@LCTesla]

bullshit. monetary expansion has an effect within a month or two. it's one of the most responsive factors a government has control over, especially considering the effect of communication about policy on private sector expectations.

[@georgigeorgiev891]

I guess my question is, wasn't that going to happen anyway as post covid inflation has cooled all over the world.

[@YoStu242]

I remember british comedy show from the 90s where taxi driver informed the cost of the ride to the customer. He was repeating millions of pesos and his meter was so long that it sticked out the car window. So I guess peso has always been weak currency

[@Ralph_Baric_PhD_C2019]

Yep remember your calculations. Rate of change.. inflation.

[@Chicago48]

Joe I most enjoyed when you made those animated videos explaining world finances and world politics. They were very entertaining and held my attention.

[@annehersey9895]

Joe, we can’t expect Argentina to drop in just a few months but if Javier’s drastic means topped in only 4 months, that’s excellent!

[@spaceme0wth]

hoping for an in depth video about how turkey got into such a bad position, i find it baffling!

[@josephwirtz8352]

One thing is they are overwhelmingly import dependent.

[@killmozzies]

Milei graduated from the CCP school of corruption and mismanagement.

[@metrx330]

Melei has only been in office 6 months. He did say it would get worse before getting better. It will take a full presidential term to see the full effect of his policies.

[@mauroalexisfernandez2357]

Everyone says that same thing...the never-ending story.

[@geogmz8277]

Argentina inflation is the highest yet is the highest shrinking month to month is all we need to know is things are going in the right direction and Milei said it from the get go! Things will get hard before they get better... Is getting there! Aguante Argentina! From a non Argentinian! 🤜🏻

[@loopyninjatank2561]

Pandora papers. Increased interest rates mess with wealthy peoples ability to avoid expenses. Reduce interest rates, wealthy people are milking the system again

[@cathulhu3772]

I think everything will be allright IN TIME. We've had the same problem in Poland, but reasons were quite different, but steps taken are kinda similar. I'm holding my thumbs for Argentina. It f hurts but look at stats of Poland - it WORKS

[@garrypattison6448]

What is Argentina on the edge of.? Stupidity ? You cannot fix stupid.

[@shadetouchcatchemall5134]

Just constat deficit over the years, increase of state size from 23 to 43 pib. Socialism basically lol

[@philipjones9458]

England need to sign that dog, he's got more skill than the whole team.

[@stevenniccoli5967]

The people of Argentina are suffering badly. I DO hope that their new President can surround himself with a bunch of Smart Economist's who can get this under control. Can another Country possibly help? I don't know how but hopefully someone can work with their Government so these hard working people don't Starve 😢

[@drewstead316]

Over half of the world lives on less than a peasant in 1350's England. Peasants earned about a pence(0.0967g of gold) per day, but some even got half a pence or 2pence per day if they were lucky. Today that's $7.28 worth of gold for a day's work. Average wages worldwide has dropped from like $18-$19K per year in 2012 to a little bit over $9,000 per year.

[@drewstead316]

A farthing or quarter pence was how much a loaf of bread cost which would be $1.82 today. Here in California a loaf of bread can between be $1-$6 depending on type of bread you want.

[@drewstead316]

Federal minimum wage in the US is the equivalent of about 8pence per day or 17.6pence per day at California minimum wage. Or 15.9 old pence equivalent in the UK for people over the age of 23 for a day's work.

[@Bit-while_going]

Argentina is a great example of how it's hard to fix a system while it's operating. I don't have any faith though that he'll change anything for the better when he starts by jacking up inflation. So he'll have to prove he has practical knowledge by actually changing things, and until it's objectively there, there's no proof.

[@delta1200]

They had the improvement in the last report

[@omegaz3393]

Argentina needs private investment. Inflation ultimately comes down to a lack of goods. Thus people bid prices up in order to obtain those goods. In short. You need to increase supply to meet & actually slightly exceed demand creating a competitive market. Also producing more goods for export to balance out trade.

[@bleargh22]

Great explanation, though at the start you said you'd speak about China but you never did

[@philstanton231]

Thanks Joe - two points from a non economical educated person, 1) perhaps State Owned Enterprises (SOE's like iin New Zealand where a dividend is paid to the Govr.) And 2) favorable conditions for overseas companies, would help. As i say, my 2 cents worth.

[@minorityofone1510]

Austrian Economic policies are the best option to cure Argentina's issues

[@tyrismaxey]

May want to take a look at what's happening in Kenya.

[@sargepent9815]

They passed the point of no return a long time ago.

[@-Teca-]

Things are ALWAYS bad this is not new

[@lutzfilor8253]

Something is wrong with your charts. MoM inflation is down to 5% currently (still high) that means inflation will drop to 60% YoY in a year assuming a flat rate of 5% MoM. Now I never like radical politics but what is achieved in 6 months in Argentina is remarkable. Understand this disaster is 50 years in the making and only 6 months it is countered with real change. Can we agree that change is necessary and that we see how it is done? Yes it is threatening the whole world finance and you carry water for the old system. Give it time and hope and pray that MoM inflation keeps falling at the rate it did below 1% and we will reach stability. Actually we would need a few months of deflation to be be real and show that this policies are working so deflation is a must to make this work.

[@THEFORBIDDENMAN-lk7of]

👍👍👍JOE BABY 👍👍👍 SOME GOOD NEWS FOR ARGENTINA, YES NO EASY FIX NOTHING IS, BUT ITS GIVES THEM A CHANCE, AND NO ONE CAN SAY THE PRESIDENT TOLD THEM LIES WHEN HE CAME TO POWER, OF COURSE THOSE AT THE BOTTOM SUFFER THE MOST, SO TRYING TO KEEP THEM GOING, GOOD TO SEE INT RATES HAVE FALLEN HELP NOW CAN THEY CUT WHAT THEY IMPORT, AND HE PLEASING THE IMF NOTHING LIKE PROGRESS SO MAY THE RECOVERY CONTINUE FOR ARGENTINA

[@daniellarson3068]

With other countries adopting the dollar, will the FED have to consider this when adopting monetary policies?

[@hienly3050]

Argentina's problem is the structure of its ecomony. It'd take a long time to fix, not by a few steps by a government. Ask anyone knowing the history of its ecomony will tell you it will take several years to fix. I was there in 1990 and found it in the same problems as today.

[@bistokidsfan]

For some reason, I’m rooting for that crazy chainsaw kid.

[@owangejewice]

Don't.

[@DoodleHats]

@@owangejewice don't root for a successful Argentina?

[@daemianbox]

Bullshit! Nothing further from the truth. I wish we had at least once a communist government!

[@starlightHT]

Why not? Do you want to see Argentines starving like Africans feel governed by the communism they imported from the Soviet Union?

[@Bitingsherbertlemons]

You are ‘rooting’ for a friend of the mass murdering psychopath Putin-Give yourself a shake mate.

[@LA99624]

Month to month is is going down since he got in

[@johnjanssens8998]

12:59 WTF? Charcuterie Ambiorix? They got that in Belgium.

[@bibekghatak5860]

It's a disaster as I see it . May Almighty bless the Argentinians .

[@claucmgpcstuf5103]

it neds to cam downe -270 %infaltion to be more normal adn to sabalzi tha cururci exchenge etc plus a sutenbal export problai 300% ey to export !!

[@lLenn2]

You should try volume leveling some time.

[@johncromwell2529]

Thx joe

[@hihellokitty85]

+2. 1 for Joe & 1 for the dog.

[@pradeepmagan6951]

They need to keep increasing interest rates until inflation starts to fall

[@shadetouchcatchemall5134]

No, here we had interest ratio 200+%. It only increased the debt central bank had. Since the state takes all the credit from the private sector to fill its huge deficit making it negative interest ratio helped lowering the debt without increasing inflation. At the end increasing interest is only a temporary measure cuz when u lower em again you ll ve that inflation.

[@meurtri9312]

this feels very, very generous to the guy.

[@theconqueringram5295]

Milei said things will get worse before they get better... whenever that is.

[@bibekghatak5860]

Alarming situation in Argentina ! 😮

[@CasperChicago]

What Milei is doing is better than past leaders. However,...Argentina needs a smart group of economist to advise him. Liberalism nor conservatism will get Argentina out ot this mess,...only sound economic principles will work.

[@Glogcke]

Great

[@Jimontherun]

I,m going to Argentina for a holiday.

[@Gooddeeds023]

👍

[@Infopirates]

IS UK OK? 😂😂😂

[@waywardgeologist2520]

4:01 inflation in the Peso?

[@crichardwc]

Crisis differentiate craps governments and good governments.

[@mauroalexisfernandez2357]

We argentinians only get crap ones..

[@AG-en5y]

Talk about edging

[@yulaym]

What about import-export balance?

[@shadetouchcatchemall5134]

Well its positive, but you do ve a huge import debt, cuz previous administration did not allow to import basically cuz did not want to recognize the true value of our currency. Only 30% of imports were autorized when milei was elected, not its at a rate of 70%, so its starting to normalize

[@genemartinez2833]

Do you think cutting interest rates was a big mistake? That might be driving the inflation rate still being high. It might not be possible to cut interest rates until inflation comes way down. The cut in public spending might cause a recession but is it possible to cut such a high inflation rate without a recession of some sort?

[@shadetouchcatchemall5134]

Actually quite opposite, having positive exchange rates only increased central debts debt at huge margins. Making it have to print more money to pay them and accelerating inflation. Since argentina credit sector is pretty small and all of it was used by the state to cover its huge deficit rising the interest would make almost no money to be absorbed from the economy. Its impossible to cut n not have recession, you could only if you could fill the gap in spending with credit, but argentina has no acces to credit markets. Also you could ve no recession with a dolarization, but we dont ve the amount of dollars needed for it yet.

[@spivackl]

At 9:20, your chart lists "Palestine" as having an inflation rate of over 50%. But "Palestine" doesn’t have a currency. They use Israeli currency or that of other countries (such as Jordan or u.s.) Explain, please.

[@mattihalme81]

Is it possible for Eurozone countries to have varying levels of inflation?

[@daemianbox]

@@mattihalme81 Yes. It is. And that is when you realize that inflation is way more than just currency printing.

[@lotheravanti4295]

I keep seeing idiots posting the month on month rate and saying Argentina no longer has problems.

[@user-je3sk8cj6g]

I keep seeing idiots not understanding that this is not what is being said, but rather that the economic situation is improving, but that it all takes time. That the month by month rate shows a tendency of improvement, particularly because he has only been the president by mere 6 months, therefore is not even possible to evaluate his government annually. But I guess that's too hard for some geniuses to understand

[@lotheravanti4295]

@@user-je3sk8cj6g sure man, sure

[@lutzfilor8253]

Is this year over year inflation? I don’t know what I am looking at?

[@shadetouchcatchemall5134]

Ignore thatt 200+ number, tells you nothing. Yearly inflation will be at 140 for thus year. But here inflations so high you ve to see it month by month. 25, 20, 13, 10, 4.

[@FernandoCicarelli]

Unfortunately none of us here will live long enough to see Argentina recover.

[@pervazmalik7033]

Don’t get it how come with Argentina’s economy in decline inflation high they get a seat in the G 7 summit in Italy

[@shadetouchcatchemall5134]

Messi effect

[@Perno007]

But what is the cause of this huge inflation rate??

[@shadetouchcatchemall5134]

Massive deficit, around 15 of the pib, so they print money to fill the gap. So basically we double or triple the amount of money in the economy each year.

[@Perno007]

@@shadetouchcatchemall5134 gracias por la explicación 👍

[@johnmccarthy7195]

What happened what happened melee said he was going to go in there and he was going to clean up Argentina and it was going to be a beacon on the f****** Hill

[@andrew4809]

Edge of glory

[@paulidiomas]

Didn't even watch the video, went straight to the comments. What a gas! A bunch of know-it-alls who know nothing, full of easy solutions, full of certainty, people who have no idea what they're talking about, Economy 101 scholars who blurt out whatever their textbooks have told them to. Challenge: 10 economists reach 1 consensus that is actually not a platitude. Tell me, what is wrong with Argentina and how can it be fixed? I'm dying to hear your learned opinion, but keep your gut feelings to yourself.

[@hobbyfarmer62]

This is bad enough it almost argues for government price fixing of things like food stuff.

[@brawndothethirstmutilator9848]

Makes it worse. Then you go from expensive products, to product shortages.

[@chicanicajfcp]

No, it does not. Price fixing has been tried in many countries and has naver ever worked

[@GHST995]

The pain is necessary from decades of mismanagement by socialist/quasi communist governments.

[@jukkakopol7355]

and far right military juntas. And recless british bankers and and and.... Everybody have their spoons in this soup.

[@peterfireflylund]

@@jukkakopol7355were they far right, though? No, they weren’t.

[@meilinchan7314]

There are no socialists or communists, ever since 1945 there has only been national socialism in the Third World. "Individual rights? public scrutiny? dude, that's Western imperialism. We don't do those here."

[@erikbrockdorff8190]

Nonsense, bad fiscal management is responsible not politics otherwise Sweden, Norway Finland and Spain, the latter which incidentally created 40% of new jobs in the EU last year, would all be failed states.

[@seanpatrick1243]

Unless month on month inflation goes to zero, Argentina has absolutely nothing to celebrate.

[@michaelmurvihill8813]

Thanks, Joe, I love Milei, but Argentina really needs more dramatic change in its fiscal policies.

[@floydlooney6837]

It can't be done overnight. He's changing things pretty quickly as it is

[@brawndothethirstmutilator9848]

Anything much more dramatic would lead to complete breakdown of social order. He’s making pretty big changes as is.