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What is going on in Argentina?

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Re: What is going on in Argentina?

#71

Post by pjc50 »

Urahandystar wrote: post #66
marcodiego wrote: post #61

I've been there in 2011. Wonderful place. At the time Brazil was recovering from the 2008 crises, which was very light for us, and our economy was probably at its top. I had my first job as a programmer and was very well payed compared to locals. I saved all the money to travel there and pay all expenses for me and my girlfriend in about just 4 months; that's how strongly we were economically. At the time 1 Brazilian…

Is it true the Brazil Real is named after that currency crisis. Meaning the real rate of the currency or just urban legend?

This is really true. Renaming the currency did actually help to stabilize the inflation spiral.

Re: What is going on in Argentina?

#72

Post by lr4444lr »

7thaccount wrote: post #11

For those not keeping up with the news, Argentina used to be an extremely wealthy country, but went the reverse route many decades ago and has embraced peronism for awhile (kind of a mixture of socialism and fascism) that has led to rampant inflation. They recently elected Javier Milei (an economist and former sex guru) who although some media claim is a radical rightwing candidate, center-right Libertarian might be…

Sound fiat central bank managed monetary policy is now libertarianism? Sheesh...

Re: What is going on in Argentina?

#73

Post by pjc50 »

is_true wrote: post #69
pjc50 wrote: post #35

Earlier quoted context omitted.

Argentina has been both badly treated by the international financial system AND completely failed to fix their own problems. After agricultural export collapsed mid-century they've failed to develop better export industries except a bit of tourism.

We have two problems: corruption and some organizations pushing against us. https://www.greenpeace.org/argentina/campanas-ganadas/ Greenpeace helped ban salmon farming. They also tried to stop offshore oil exploration, they just delayed it. This is the kind of things we cannot accept

Blaming leftists and outsiders for all your problems is probably a core part of why Argentina remains unable to fix itself.

Re: What is going on in Argentina?

#74

Post by is_true »

verticalscaler wrote: post #5

“To give you have an idea, within the first 2 days in Argentina, I dealt with over five different rates. A restaurant actually offered me the proper blue rate (1100) to pay for the bill, whereas one cueva (informal exchange house) offered me 1050 and another 1070. The kiosk where I bought a SIM card from had it at 1060, and Uber, who did the currency conversion themselves rather than leaving it up to my credit card,…

That volatility is common

Re: What is going on in Argentina?

#76

Post by rglullis »

koolba wrote: post #68

> It also didn’t just stop there. January saw a 20% inflation rate, meaning from the day we crossed the border from Uruguay to Argentina to the day we crossed the border back to Brazil, about a month later, prices were about 20% higher. That’s not a 20% inflation rate. It’s a monthly amount. That’s a 1.2^12 - 1 = 791.60% inflation rate.

"inflation rate" does not necessarily means annual rate, so it will depend on the context. For those that never lived through hyperinflation, they rarely see it discussed in terms of month-over-month comparison, but someone in Argentina, Venezuela or 80/90s Brazil would just assume that "20% inflation" means "monthly".

Re: What is going on in Argentina?

#77

Post by 7thaccount »

lr4444lr wrote: post #72
7thaccount wrote: post #11

For those not keeping up with the news, Argentina used to be an extremely wealthy country, but went the reverse route many decades ago and has embraced peronism for awhile (kind of a mixture of socialism and fascism) that has led to rampant inflation. They recently elected Javier Milei (an economist and former sex guru) who although some media claim is a radical rightwing candidate, center-right Libertarian might be…

Sound fiat central bank managed monetary policy is now libertarianism? Sheesh...

I mean I guess he could talk about floating a gold standard, but dollars seems like 1.) Something people already use there and understand, and 2.) The Fed has inflation, but it's far far more stable than what they're used to. So it's a decision of practicality.

Re: What is going on in Argentina?

#78

Post by javcasas »

swarnie wrote: post #27
kingofthehill98 wrote: post #8

They elected a freakin' maniac and they're gonna pay a heavy price for that. In Brazil we have a saying "pior que tá não fica", which translates to something like "it cannot get worse than this". Belive me when I say this: it can (and probably will) get worse. It can (and probably will) get SO MUCH worse. We tasted this poison with 4 years of Bolsonaro trying to get away from the establishment. What did we get in ret…

We've tested many different ideologies and organisational structures just in the last few hundred years. Currently we have a successful but pretty crappy form of capitalism. Some countries have experimented with Communism, fascism, oligarchy (ism)?), feudalism ect ect. Why not give libertarianism a shot?

Do you know why the USA is the richest country in the world while being full of homeless, or has the strongest army in the world while having the shittiest healthcare of all developed countries?

Because liberalism, I/E shrink the state so that ~the corporations can rule~ the invisible hand of the market can fix everything.

Even Adam Smith recognised that you need a state to limit the power of the big actors in the invisible hand of the market.

Re: What is going on in Argentina?

#80

Post by is_true »

pjc50 wrote: post #73
is_true wrote: post #69

Earlier quoted context omitted.

We have two problems: corruption and some organizations pushing against us. https://www.greenpeace.org/argentina/campanas-ganadas/ Greenpeace helped ban salmon farming. They also tried to stop offshore oil exploration, they just delayed it. This is the kind of things we cannot accept

Blaming leftists and outsiders for all your problems is probably a core part of why Argentina remains unable to fix itself.

You should read the comment again. You missed a keyword.
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