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Yeah, it seems to have worked as expected. Dollarization works to reduce inflation. Now it comes down to a choice: do you impose capital controls and leave monetary sovereignty to the US? (or something hybrid to facilitate import/export)
Option (a): A stable exchange rate and free capital flows (but not an independent monetary policy because setting a domestic interest rate that is different from the world interest rate would undermine a stable exchange rate due to appreciation or depreciation pressure on the domestic currency).
Option (b): An independent monetary policy and free capital flows (but not a stable exchange rate).
It sounds a bit like being a Eurozone country. Free capital flow, fixed exchange rate, no monetary policy. It can work well if you can keep trade balance, but you will be waiting to see what the Fed does and instead of inflation you may have wage stagnation or actual cuts to services to keep a balanced budget. It all depends on being able to export enough to have liquidity to run the economy?
The EU also took option (a) it says below so you’re dead on.
He doesn’t seem opposed to large cuts on services. Issue is if they can’t produce enough goods will they eventually run out of services to cut 👀.
Also seems like stagnation is already at play:
But Argentine wages have remained stagnant or declined, with the monthly minimum wage for regulated workers just $264 as of this month, with workers in the informal economy often paid less.
In the US we normally discuss annual or annualized inflation. So 4% monthly would be described as 60% annualized inflation. The actual YoY inflation in Argentina is 263%.
Along with the dollarization that is not being an actual peg, these feel like the usual sensationalist pieces created to drum up artificial support for Milei.
Exactly. The article never hides it’s monthly inflation tho, don’t know why to point specifically to that.
Anyways, Annual inflation curve has been going down steadily, that’s very positive for us down here. It peaked at 287% or something in April. And now we are looking at an annual future value of 125% this year and 45% next year
That’s dropping A LOT!
Also 4% monthly is very good for our standard of 18% monthly average from last year. Actually improvement has been great on that front, prices have been steady as well since at least 6 to 4 months ago
A year ago? That would have been impossible to dream about
Reuters - News Source Context (Click to view Full Report)Information for Reuters:
> MBFC: Least Biased - Credibility: High - Factual Reporting: Very High - United Kingdom
> Wikipedia about this source
Reuters - News Source Context (Click to view Full Report)Information for Reuters:
> MBFC: Least Biased - Credibility: High - Factual Reporting: Very High - United Kingdom
> Wikipedia about this source
Well it can’t be worse than the politicians who support Israel, who are far worse terrorists alongside a million other crimes against humanity.
Also your link doesn’t say that, it says 63% support fighting. Which considering they’re victims of an ongoing genocide, damn right they should be fighting.
The polling data also shows they overwhelming don’t consider what Hamas did on October 7th to be atrocities. They have demonized Israel so much that they dont consider Israelis human. People like you just spread that same dehumanizing message outwards.
Seriously. Stop and think for a few minutes about what you just wrote and flip the word Israel with Palestine.
Polling data shows the majority of Israelis think they haven’t gone far enough in slaughtering innocent people, majority of which are children . Israelis strap Palestinians to cars as human shields, bomb maternity wards, schools, and refugee camps as they systematically kill off the Palestinian people and steal their land.
Seriously stop for a minute and think about what you wrote. People rose up against their ZioNazi oppressors, if Israel didn’t like it they shouldn’t have been monsters to others or invaded their lands to colonise it.
If another country came into ours and started driving people out, cutting down food trees and putting in settlements, you bet we’d be pissed. But it’s like our politicians have zero empathy and can’t imagine us being in another’s shoes. I know politics requires making hard choices, but must every top politician be a sociopath? It’s very imbalanced.
Reuters - News Source Context (Click to view Full Report)Information for Reuters:
> MBFC: Least Biased - Credibility: High - Factual Reporting: Very High - United Kingdom
> Wikipedia about this source
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