The inflation rate in Argentina is 142.7%, that's the highest it's been in over 30 years. They are looking for any kind of leadership change...even this guy. Desperate times call for desperate measures.
So what does a bag of Doritos cost there?
Nobody knows because nobody has enough money to buy a bag.
Lol! Some of this is for the consumption of the culture warriors, but there’s going to be great resistance to the death of the ministry of public works and such.
How will public money be redistributed to corporations without the bureaucratic capacity to collect from the great number to share among the wealthy?
Argentina isn't a country that actually matters. Completely at the mercy of the global economy and the big players. (US, China, EU, Brazil) Any negative or positive change will have little to do with whatever Milei does.
Lol! Some of this is for the consumption of the culture warriors, but there’s going to be great resistance to the death of the ministry of public works and such.
How will public money be redistributed to corporations without the bureaucratic capacity to collect from the great number to share among the wealthy?
If they were simply spending money they collected, there would be no issue. Their issue is they are printing money to pay for expenses far in excess of what they are collecting, which devalues their currency. When they got off the currency board in 2003, the Argentine peso was worth $0.34 per US dollar. If they maintained their currency board, it would be worth $0.34. Since they didn’t, it is now worth $0.0028. So, that party sized bag of Doritos, that in the US costs $4.93 at Walmart, would cost the equivalent of $598.64, all other things being equal.
As we know from the Austrian school’s previous outing in Chile, the Southern Cone is an important laboratory for right wing governance.
And Argentina is far from poor. The mechanism of the economy and its role in the global economy produces both wealth and poverty- depending on where in the economy one is situated.
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As everywhere - see Musk - the right libertarian has to manage the tension between a stated preference for freedom for all, and a deeply held commitment to hierarchy and violence. Imagine being a libertarian BUT opposed to abortion, to gender self-determination, to gender equality!
Milei has an Achilles heel though - his new, younger girlfriend. This is exactly what doomed Nicolas Sarkozy in France circa 2007 and Boris Johnson more recently. Both came in with big mandates for change, but they got distracted by their new women that they were trying too hard to impress. Here's hoping Melei can stay focused, but an Instagram drama queen like this isn't likely to help his mission.
Don’t we need to know more about what Argentina produces and how its wealth is distributed before we decide what the currency’s true level is?
I’ve been to countries (with dual economies) where Doritos are very expensive but people could have affordable food housing and transport.
Everyone in Cuba has a job, housing, healthcare, etc., and most are miserably impoverished (especially now that a lot of Russian bribe money has dried up).
It would be nearly impossible to find two world leaders in living memory whose influence is more inextricably linked to the countries they presided over than Cuba’s Fidel Castro and Singapore’s Lee Kuan Yew, who passed away t...
As we know from the Austrian school’s previous outing in Chile, the Southern Cone is an important laboratory for right wing governance.
And Argentina is far from poor. The mechanism of the economy and its role in the global economy produces both wealth and poverty- depending on where in the economy one is situated.
—
As everywhere - see Musk - the right libertarian has to manage the tension between a stated preference for freedom for all, and a deeply held commitment to hierarchy and violence. Imagine being a libertarian BUT opposed to abortion, to gender self-determination, to gender equality!
What liberties does direct abortion allow for the living unborn it destroys? And the gender dysphoric are not so much oppressed as oppressive.
Don’t we need to know more about what Argentina produces and how its wealth is distributed before we decide what the currency’s true level is?
I’ve been to countries (with dual economies) where Doritos are very expensive but people could have affordable food housing and transport.
Everyone in Cuba has a job, housing, healthcare, etc., and most are miserably impoverished (especially now that a lot of Russian bribe money has dried up).
Our resident Trumpers probably never heard of this guy before he was elected. But since he was elected it is reported he was big fans of Erdogan, Orban and Trump and that is all they need to give him a ticker tape parade and welcome him into their strange authoritarian loving fold.
Don’t we need to know more about what Argentina produces and how its wealth is distributed before we decide what the currency’s true level is?
I’ve been to countries (with dual economies) where Doritos are very expensive but people could have affordable food housing and transport.
Everyone in Cuba has a job, housing, healthcare, etc., and most are miserably impoverished (especially now that a lot of Russian bribe money has dried up).
Everyone in Cuba has a job, housing, healthcare, etc., and most are miserably impoverished (especially now that a lot of Russian bribe money has dried up).
Just responding to your previous question wrt the exchange rate. A devalued currency isn’t necessarily a bad thing. The question is who benefits from the current exchange rate.
IDK, have you been to a country where rice wheat all energy supplies are imported as that is more profitable than local production?
Just responding to your previous question wrt the exchange rate. A devalued currency isn’t necessarily a bad thing. The question is who benefits from the current exchange rate.
IDK, have you been to a country where rice wheat all energy supplies are imported as that is more profitable than local production?
I’ve been to a number of countries whose economies were ruined by socialism and had to enact market reforms to get their financial houses in order. When you look at any socialist country that has succeeded, it is not until they embrace some level of free market reform. Many countries with good Gini indexes are universally poor and do not grow at the rate of freer economies.
