What Argentina should do now instead?
Argentina's Economy Is Screaming at Top of Its Lungs
21–30 of 48 posts
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#22Shock therapy like the one in Argentina is what turned the tide of inflation in the 1980s in the US: https://en.wikipedia.org/wiki/Early_1980s_recession_in_the_U... . Milei got a strong mandate, but we will have to see if his mandate and his conviction is ultimately strong enough. At the time Volcker, the president of the Fed, was a target of many social groups - for example he would get in his mail, along with very…
>But it worked, and we got the prosperous but greedy 80s.
What does it matter that the nominal GDP total is increasing if that doesn't translate to prosperity for most of the people or better objective material conditions? https://wtfhappenedin1971.com/
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#23Not only is this uninformed*, the author’s views are fairly extremist: https://www.nakedcapitalism.com/author/nick-corbishley
I don’t think HN should be a platform for this kind of commentary.
*As others point out, e.g. the guy seems to misunderstand the peso-dollar exchange rate.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#24Is this a marxist blog? Seems very opinionated. Milei's plans for Argentina's economic recovery is very unique & interesting, and should be a good example for other countries who struggle with massive public spending. Economic "shock therapy" is obviously painful in short term, especially for the beneficiaries of previous policies.
"The people are worse off, but the country is much better!" You call that being opinionated, and yet you're okay (fascinated even) with an economy policy that brutalizes and starves in the short term? In a country like Argentina?
> …an economy policy that brutalizes and starves in the short term? In a country like Argentina?
In which kinds of countries would it be ok?
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#25To be clear, this is a liberal economics blog, so expect at least some bias.
I genuinely don’t understand. Shouldn’t we expect bias regardless of their orientation? Conservative, libertarian, liberal, progressive, Marxist - whatever ideology someone has, whether it has a name or not, whether it is coherent or not, it’s going to contain their bias. Not to be too reductive but that’s how human beings work.
“All those people who disagree with me are biased” is also how human beings work.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#26Is this a marxist blog? Seems very opinionated. Milei's plans for Argentina's economic recovery is very unique & interesting, and should be a good example for other countries who struggle with massive public spending. Economic "shock therapy" is obviously painful in short term, especially for the beneficiaries of previous policies.
Shock therapy is what created the modern Russian state, arguably the biggest geopolitical threat the west faces right now. Just one of many arguments why you should think twice if you think this policy will bring unmitigated good if just the proles withstand starvation for a few years.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#27This recent focus on Argentina has highlighted a common tactic the media likes to use: - Bad thing happens for long time: ignore, downplay. - Bad thing continues to happen, but “enemy” person that can be blamed for it appears: suddenly it’s headline news and this new bad person caused the problem. No one that has paid any attention to Argentina is surprised that the economy is chaotic and undergoing experiments of wh…
This blog is very much not “media”. The author a pro-Russian Marxist blogger - hardly representative of mainstream news.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#28This recent focus on Argentina has highlighted a common tactic the media likes to use: - Bad thing happens for long time: ignore, downplay. - Bad thing continues to happen, but “enemy” person that can be blamed for it appears: suddenly it’s headline news and this new bad person caused the problem. No one that has paid any attention to Argentina is surprised that the economy is chaotic and undergoing experiments of wh…
This blog is very much not “media”. The author a pro-Russian Marxist blogger - hardly representative of mainstream news.
I see the same tactic used by larger media outlets like the Financial Times or NYT all the time. I think it’s a symptom of the media environment as a whole. People subscribing / reading certain publications are self-selecting, and so the publications aren’t going to push news stories that go against whatever that ideology suggests.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#29Is this a marxist blog? Seems very opinionated. Milei's plans for Argentina's economic recovery is very unique & interesting, and should be a good example for other countries who struggle with massive public spending. Economic "shock therapy" is obviously painful in short term, especially for the beneficiaries of previous policies.
Shock therapy is what created the modern Russian state, arguably the biggest geopolitical threat the west faces right now. Just one of many arguments why you should think twice if you think this policy will bring unmitigated good if just the proles withstand starvation for a few years.
Shock therapy also created the democracies and (more or less) healthy economies of Eastern Europe.
Re: Argentina's Economy Is Screaming at Top of Its Lungs
#30To be fair, double digits inflation numbers have been happened in Argentina for years now and the population wants it to stop. Imagine inflation being more than 20% per month. That is Argentina.
That is the reason they voted Milei, that was very clear in what needed to be done.
It is working, inflation rates are going down. They are getting super habit for the first time in decades. They will get investment.
The reason Argentina is where it is is Marxism. Argentina is geopolitically rich, people is educated, has so many resources, like Venezuela. The only reason it is a poor country is leftist ideas that were ingrained in the population, like "debt doesn't matter", "you can print money to grow" and so on.
This webpage is marxist, so obviously they are so afraid, specially if it works in the end.