Far Right Presidential Candidate Wins in Argentina

[Dark_Ansem]

Gdp can't be eaten. Asset stripping the country isn't a way to balance the books either. So outstanding is relative.

 

[Foxi4]

Gdp can't be eaten. Asset stripping the country isn't a way to balance the books either. So outstanding is relative.

You confuse deflationary activity with loss of productivity. Consistent growth is expected. All the relevant economic metrics are in the green, he’s doing a stellar job.

https://www.statista.com/statistics/316724/gross-domestic-product-gdp-in-argentina/

 

[Dark_Ansem]

*on paper. In the real world, it's not like Argentinians are seeing any benefits. In two years, you say?

Also, shouldn't your avatar feature Robotnik since Sonic is a green icon and you're pretty much supporting the opposite of what he stands for?

 

[Foxi4]

*on paper. In the real world, it's not like Argentinians are seeing any benefits. In two years, you say?

Also, shouldn't your avatar feature Robotnik since Sonic is a green icon and you're pretty much supporting the opposite of what he stands for?

Ahh, Ansem - you and your gobbledygook. Gotta vote fast, and MAGA was faster than you guys. Sonic is canonically MAGA, actually.



https://segaretro.org/Sega_Maga

 

[jomaper]

Which part should I lament, the zero fiscal deficit, monthly inflation slashed from 25% to 3.5% or the growing bank reserves?

https://www.reuters.com/world/americas/can-milei-defuse-argentinas-economic-time-bomb-2024-11-04/

Life exists outside of this thread, you’re not that important. That said, even within the confines of this thread the guy’s doing exactly what he promised to do. No complaints, A+ so far.

The 25% inflation was literally his lmao. "Life outside of this thread" says the dude with +30k comments in this forum.

 

[Foxi4]

The 25% inflation was literally his lmao. "Life outside of this thread" says the dude with +30k comments in this forum.

…because he devalued the currency down to the level of the black market peso (or close enough) because that’s its realistic value. We’ve been over this, multiple times. You know what happens when you do that? You can buy less things with one unit of currency, generally. *Except* in Argentina the actual value of the peso was not the FX value, it was the black market value, that’s why anyone with any money to their name operated on USD. This was explained multiple times. The fact that the currency is now stabilised *and* not artificially inflated on the exchange is an *excellent* indicator of its health.

 

[Dark_Ansem]

Sonic is canonically MAGA, actually.

unsourced like the virtual majority of your claims LOL

 

[x65943]

unsourced like the virtual majority of your claims LOL

He did provide a source tho

Of course it's simply that there was a magazine called Sega maga

 

[Xzi]

Over 50% of the population has fallen below the poverty line in Argentina. Will the people who Milei made destitute reap the most reward when things start to turn around, now that inflation is low? I think we all know the answer. A conman is still a fucking conman, regardless of whether he plays the short or long game.

 

[x65943]

Over 50% of the population has fallen below the poverty line in Argentina. Will the people who Milei made destitute reap the most reward when things start to turn around, now that inflation is low? I think we all know the answer. A conman is still a fucking conman, regardless of whether he plays the short or long game.

Argentina is 43 billion USD in debt to the imf

Monthly inflation fell from 26% to 4% under Milei

Just try to understand how 26% inflation would destroy any and all savings

In 1 month you lose a quarter of your savings - and that happens every month

This was inevitable, and Milei pulled the bandaid

I am not sure any other route was possible - there is a reason they voted this guy in. Argentinians knew the situation was dire

Would be curious to know what you would have done differently in this scenario

 

[Xzi]

Monthly inflation fell from 26% to 4% under Milei

Again, not disputing that he's been effective at cutting inflation. I'm asking why that should matter if it ultimately leaves the country as a whole worse off. Seems like the endgame is to enrich/impress the global oligarchy and gain a seat at the table himself, rather than turn Argentina around for Argentina's sake.

 

[Dark_Ansem]

magazine called Sega maga

I see! that's slightly clever, also kind of dating oneself heh.

 

[x65943]

Again, not disputing that he's been effective at cutting inflation. I'm asking why that should matter if it ultimately leaves the country as a whole worse off. Seems like the endgame is to enrich/impress the global oligarchy and gain a seat at the table himself, rather than turn Argentina around for Argentina's sake.

26% monthly inflation was completely unsustainable - this was happening one way or another

You can only prop up a country with massive spending and debt for so long

The past government was like a jobless man putting all of his expenses on a credit card - of course once you stop recklessly spending there will be a drop in standard of living

 

[Foxi4]

26% monthly inflation was completely unsustainable - this was happening one way or another

You can only prop up a country with massive spending and debt for so long

The past government was like a jobless man putting all of his expenses on a credit card - of course once you stop recklessly spending there will be a drop in standard of living

A quick reminder that over the course of its existence Argentina defaulted on its debt *9 times*. We’re not talking about recent financial mismanagement, it was always ran by people who have no idea what they’re doing. What Milei’s achieving in such a short span of time is nothing short of an economic miracle, comparable to what happened in some of the now-successful post-Soviet republics (and not dissimilar in methodology) and it will pay dividends in the future. All the country has to do is stay the course.

 

[x65943]

A quick reminder that over the course of its existence Argentina defaulted on its debt *9 times*. We’re not talking about recent financial mismanagement, it was always ram by people who have no idea what they’re doing. What Milei’s achieving in such a short span of time is nothing short of an economic miracle, comparable to what happened in some of the now-successful post-Soviet republics (and not dissimilar in methodology)?and it will pay dividends in the future. All the country has to do is stay the course.

I really fear it won't, fear mongering and disinformation is going to put these spendocrats right back into business

 

[Xzi]

it will pay dividends in the future. All the country has to do is stay the course.

And if the people ever actually benefit from the economy he's created, I will be happy to have been proven wrong. What I suspect will happen instead is that wages will be kept low/stagnant even as productivity and GDP soar to new highs.

I really fear it won't, fear mongering and disinformation is going to put these spendocrats right back into business

Depends on how long Milei intends to string the populace along. It's easy to promise results decades or generations down the line, you just bank on people forgetting that the promises were made to begin with.

 

[pustal]

Gdp can't be eaten. Asset stripping the country isn't a way to balance the books either. So outstanding is relative.

Over 50% of the population has fallen below the poverty line in Argentina. Will the people who Milei made destitute reap the most reward when things start to turn around, now that inflation is low? I think we all know the answer. A conman is still a fucking conman, regardless of whether he plays the short or long game.

And if the people ever actually benefit from the economy he's created, I will be happy to have been proven wrong. What I suspect will happen instead is that wages will be kept low/stagnant even as productivity and GDP soar to new highs.


Depends on how long Milei intends to string the populace along. It's easy to promise results decades or generations down the line, you just bank on people forgetting that the promises were made to begin with.

It's like the Irish Leprechaun economics where neo-liberals like to point out how reduced taxation, tax exemption and privatisation boosted the GDP, yet other indicators tell a different story for the Economy. If companies are making money, but that money isn't being taxed and redistributed, tells very little.

 

[Xzi]

It's like the Irish Leprechaun economics where neo-liberals like to point out how reduced taxation, tax exemption and privatisadion boosted the GDP, yet other indicators tell a different story for the Economy. If companies are making money, but that money isn't being taxed and redistributed, tells very little.

Exactly, the revenue generated by labor all goes to corpos and billionaires. In Argentina's case it could be nine tenths of it or more. Very little of that money would circulate within the country.

 

[Foxi4]

I really fear it won't, fear mongering and disinformation is going to put these spendocrats right back into business

That’s a big concern. There’s something to be said about meeting people’s immediate needs and that’s a big motivator at the voting booth. It’s a hard sell to convince someone to “suck it up” because things will get better a few years down the line, a lot of people prefer to live in squalor now than to be ahead of the curve later, *especially* if they’re used to it. One can only hope that the reforms enacted will continue to be effective as quickly as the current ones. Digging a deep hole is always easier than climbing out of it - there’s no dirt falling onto your face on the way down, but there’s plenty on the way up.

And if the people ever actually benefit from the economy he's created, I will be happy to have been proven wrong. What I suspect will happen instead is that wages will be kept low/stagnant even as productivity and GDP soar to new highs.

It’s hard to look that far into the future, this sort of change takes decades. From personal experience Poland is certainly better off now than when there was only vinegar and matches on store shelves, but it wasn’t easy getting to that point.

 

[Dark_Ansem]

It’s hard to look that far into the future, this sort of change takes decades. From personal experience Poland is certainly better off now than when there was only vinegar and matches on store shelves, but it wasn’t easy getting to that point.

by making huge amounts of debt given to people as handouts- electoral bribe by PISS, who will have to paid by younger generations?