And in other news: Argentina’s poverty rate jumped from almost 42% to 53% during the first six months of Javier Milei’s presidency (https://apnews.com/article/argentina-milei-budget-congress-economy-inflation-c83178217097093d476fab94429768a4)
Appeasing the market needs humans sacrifice! Once the rich get their fill, the poor will… anyway who cares about the poor.
Yes, because of austerity. You have to sacrifice spending somewhere to cool the economy and reduce the deficit.
The other way to go about it is to jack up interest rates sky-high, but that doesn’t fix the deficit.
You’re defending increasing the poverty rate because of a budget deficit. Are you aware that you’re trying to justify human suffering?
How well do you think the population would fare if the government goes bankrupt?
Because 200% inflation was so great
During the observation period from 1980 to 2022, the average inflation rate was 206.2% per year. Overall, the price increase was 902.38 billion percent. An item that cost 100 pesos in 1980 costs 902.38 billion pesos at the beginning of 2023.
https://www.worlddata.info/america/argentina/inflation-rates.php
I mean, I’m not advocating support for the guy but citing stuff that happens within the first 6 months of taking office is a bit disingenuous.
Things generally don’t happen immediately after someone takes power, there’s a lag before things start to happen and change. I would imagine that the increase in poverty would have happened no matter who was in power and whatever happened after that first 6 months could be attributed to milei more than what happened within the first 6 months.
