In inaugural speech, Argentina’s Javier Milei prepares nation for painful shock adjustment

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3 hours ago, Skipalongcassidy said:

Wages have risen but not fast enough to keep up with expenses... most Americans are worse off then they were before.

Outdated much?

https://www.statista.com/statistics/1351276/wage-growth-vs-inflation-us/

 

And for production workers and non supervisory staff, the news is a lot better:

 

Edited December 14, 2023 by placeholder

[Danderman123]

13 hours ago, Skipalongcassidy said:

Obviously you live in your ass... all are close to accurate without the "spin"... why don't you post a link or two disputing them?  You cannot that's why.

It seems that you have deleted your earlier posts that contained fake numbers about inflation.

 

I commend you for that.

[Danderman123]

I am hopeful that the new president will turn things around in Argentina, which has been going downhill for 100 years.

[JackGats]

I hope he succeeds. Argentina could become a country in which to retire.

[Skipalongcassidy]

7 hours ago, Danderman123 said:

It seems that you have deleted your earlier posts that contained fake numbers about inflation.

 

I commend you for that.

No "I" didn't... 

[Danderman123]

On 12/14/2023 at 9:24 AM, JackGats said:

I hope he succeeds. Argentina could become a country in which to retire.

Milei couples 'total crackdown' on protest with economic shocks in Argentina

 

The blueprint for Trump to silence protest.

 

Not a very Libertarian approach.

[tonbridgebrit]

And with Argentina's currency collapsing to almost zero, it might be cheaper for sex tourists to go to Argentina rather than South East Asia.

 

Latin American women rather than East Asian types ?  Yes, this is what Milei has done to his country. And to think, half of all people in Argentina are backing this man. I'm not sure whether to laugh or cry.

[stevenl]

3 minutes ago, tonbridgebrit said:

And with Argentina's currency collapsing to almost zero, it might be cheaper for sex tourists to go to Argentina rather than South East Asia.

 

Latin American women rather than East Asian types ?  Yes, this is what Milei has done to his country. And to think, half of all people in Argentina are backing this man. I'm not sure whether to laugh or cry.

A bit harsh to blame Mileii for the economic collapse.

[tonbridgebrit]

10 hours ago, stevenl said:

A bit harsh to blame Mileii for the economic collapse.

 

Hello. Argentina has had a messed up economy for decades now.
Milei was high in the polls prior to the election, and speculators were getting ready for the currency to weaken. Milei then actually wins the election, and this has caused the currency to crash.

People are not sure if Milei really is going to carry out the absurd ideas that he talked about during the run-up to the election.  Right now, there are signs that some of the absurd ideas are going to be done. And hence, Argentina's currency has dropped considerably.

Milei will probably not carry out all the absurd ideas he talked about, but still, he will carry out some.

I make a prediction. I think the policies will not benefit Argentina. The collapsing Peso is not going to recover. Yes, now that the peso has collapsed, we might, might, see reasonable inflation in Argentina over the next few years. But we're also going to see a harsh recession because of the massive government cutbacks that are likely to take place. I hope my prediction does not come about, but I think it will.
 

[Pouatchee]

On 12/11/2023 at 9:15 AM, CharlieH said:

$45 billion debt to the International Monetary Fund

 

the biggest global mafia there is... 

[tonbridgebrit]

https://www.reuters.com/markets/argentina-markets-face-election-hangover-after-far-right-primary-bombshell-2023-08-14/


So, it was back in August this year, when Milei stunned the world by getting 30% of the vote at the primary election.
From the above Reuters news,  "Argentina's government devalued its currency by nearly 18% on Monday while the benchmark interest rate was raised by 21 percentage points to 118%, the central bank said, as financial markets reeled the day after a shock primary election result."  This was back in August.

And since then, the currency has carried on falling. Milei actually winning the election about a month ago really has seen the continied destruction the Argentine peso.

[tonbridgebrit]

2 hours ago, tonbridgebrit said:

https://www.reuters.com/markets/argentina-markets-face-election-hangover-after-far-right-primary-bombshell-2023-08-14/
 

Sorry, the last bit of writing should have been "the continued destruction of the Argentine peso".

[Jingthing]

18 hours ago, tonbridgebrit said:

And with Argentina's currency collapsing to almost zero, it might be cheaper for sex tourists to go to Argentina rather than South East Asia.

 

Latin American women rather than East Asian types ?  Yes, this is what Milei has done to his country. And to think, half of all people in Argentina are backing this man. I'm not sure whether to laugh or cry.

This is kind of silly because Argentina was ALREADY one of the cheapest decent places to visit with hard currency. You take your dollars and get the black market rate which is available everywhere. As far as sex tourism in Argentina, I'm not an expert. I have been there during one of their many financial crises where the dollar exchange rate was absurd and I didn't notice it being anything like Thailand as far as sex tourism is concerned. It's not their culture. Of course every country has prostitutes but not every "poor" country has a sex tourism type of culture. I think Brazilian culture is much more like that than Argentina. 

[Jingthing]

7 hours ago, tonbridgebrit said:

 

Hello. Argentina has had a messed up economy for decades now.
Milei was high in the polls prior to the election, and speculators were getting ready for the currency to weaken. Milei then actually wins the election, and this has caused the currency to crash.

People are not sure if Milei really is going to carry out the absurd ideas that he talked about during the run-up to the election.  Right now, there are signs that some of the absurd ideas are going to be done. And hence, Argentina's currency has dropped considerably.

Milei will probably not carry out all the absurd ideas he talked about, but still, he will carry out some.

I make a prediction. I think the policies will not benefit Argentina. The collapsing Peso is not going to recover. Yes, now that the peso has collapsed, we might, might, see reasonable inflation in Argentina over the next few years. But we're also going to see a harsh recession because of the massive government cutbacks that are likely to take place. I hope my prediction does not come about, but I think it will.
 

Well everything is connected and you're right if you effectively stop hyper inflation there will be a large cost for that one way or another. But hyper inflation is what most Argentinians demand be fixed. So a politician that tries to fix it, high cost or not, makes sense at this time. Of course naturally he didn't run highlighting the high cost, no politician worth his salt would have. Predicting dark things is easy and likely correct. Once the high price becomes real for masses of the people there, they are going to protest big time, and their protest will be repressed with fascist measures. If there was a pie in the sky easy fix, that would be great, but like most such things, there are a bunch of bad choices, and attempts to pick the least bad one.

[Jingthing]

This interested me and I reckon it will interest others as well.

Retirement in Argentina now?

Well aside from the new government the financial requirements for the visa have been raised dramatically to 2000 a month. It used to be ridiculous like under 500 a month.

2000 is higher than the average US social security check.

Theoretically you can import 24k instead but you really can't.

The Argentinine banks are shockingly awful.

Even if you could get the money in you'd be crazy to hold that much in a bank there.

I did have some very simple business with a bank there during my stay.

It took hours and felt like getting dental surgery.

As comparison the requirement in Uruguay is 1500, Chlle 1500 but less is considered if living outside of Santiago, and Colombia under 1000.

You don't need anywhere near 2000 to live well in Argentina especially out of BA.

The peso has been devalued but still not as low as the black market rate.

That I don't understand.

People will still use the black market then.

 

 

[candide]

13 hours ago, tonbridgebrit said:

 

Hello. Argentina has had a messed up economy for decades now.
Milei was high in the polls prior to the election, and speculators were getting ready for the currency to weaken. Milei then actually wins the election, and this has caused the currency to crash.

People are not sure if Milei really is going to carry out the absurd ideas that he talked about during the run-up to the election.  Right now, there are signs that some of the absurd ideas are going to be done. And hence, Argentina's currency has dropped considerably.

Milei will probably not carry out all the absurd ideas he talked about, but still, he will carry out some.

I make a prediction. I think the policies will not benefit Argentina. The collapsing Peso is not going to recover. Yes, now that the peso has collapsed, we might, might, see reasonable inflation in Argentina over the next few years. But we're also going to see a harsh recession because of the massive government cutbacks that are likely to take place. I hope my prediction does not come about, but I think it will.
 

Actually, devaluation tends to increase inflation, at least on short-term. Imported goods are more expensive. Local production can be sold at a higher price abroad, which also leads to price increases on the domestic market. Not sure how it may evolve on middle-term.