Argentina May Issue Bond to Pay $16 Billion Award in YPF Lawsuit

[antipodean]

If there is zero inflation, but you cannot afford to buy anything, would that be considered a resounding success?

Many people here live paycheck to paycheck and barely make ends meet. With the recent surge in prices, they are likely to run out of money by the middle of the month, or perhaps by the 20th. And when their children literally start crying from hunger, the rules of the game will change. At that point, inflation will no longer look like the biggest problem.

That is already the problem today and has been for years, only with inflation on top.
The average wage in Argentina was already lower than the cost of canasta básica resulting in many lower wage earning workers depending on soup kitchens and loans just to feed themselves and their families long before the current government came into the picture. So I guess the above scenario would just be considered a continuation of the failure, or a failure to resolve the failure.

 

[David Y]

That is already the problem today and has been for years, only with inflation on top.
The average wage in Argentina was already lower than the cost of canasta básica resulting in many lower wage earning workers depending on soup kitchens and loans just to feed themselves and their families long before the current government came into the picture. So I guess the above scenario would just be considered a continuation of the failure, or a failure to resolve the failure.

yep, i'm not so hot on milei, but it's hilarious that the diehard ks are already trying to blame every problem argentina has on milei.

the only reason milei a libertarian from a small party was elected was because things were so bad. out of control inflation, 50% poverty, retirees going homeless and hungry, children going hungry.

 

[FrankPintor]

True, but we need to wait a bit to see if his policies can unwind the inflation. Policy, interest rate, and money supply changes don't have an instant effect. There are always lags in any economic action.

If 2 years from now inflation is worse than when he took office, we can say Milei was an enormous failure.

Declaring 30% per month inflation the fault of a president who came into power 2 weeks is disingenuous.

I take your point (and it’s nice that you can make it without resorting to kindergarten level insults, thank you for that). It’s early days yet. And if Milei can survive the first months, he has a chance to be a hero with the entirely unearned expected bonus from the agriculture harvest. Nevertheless, a step change from 10-15% to 30% plus monthly inflation with the promise of worse (better, for libertarians?) is difficult to overlook, and impacts ordinary Argentinians in the worst way possible. They won’t even be able to protest, if Milei has his way.

 

[redlobster]

The average wage in Argentina was already lower than the cost of canasta básica resulting in many lower wage earning workers depending on soup kitchens ...

Are these soup kitchens still funded?

I wonder how many of these 56% that voted for Milei recognized that they are signing up for major surgery without anesthesia with a probability of success rate of like 30%?

 

[antipodean]

Are these soup kitchens still funded?

I wonder how many of these 56% that voted for Milei recognized that they are signing up for major surgery without anesthesia with a probability of success rate of like 30%?

They are and were mostly privately funded on donations. There were pickets last in the past years complaining that government funding was insufficient for the demand they have to deal with... so again, nothing new with funding issues.

 

[SinPulgas]

Are these soup kitchens still funded?

I wonder how many of these 56% that voted for Milei recognized that they are signing up for major surgery without anesthesia with a probability of success rate of like 30%?

Can you pass me the data that shows that the probability of success is 30%? Or did you get to the word "like," sit there for a minute or two, and decide that 30% was a nice-sounding number, so you chose that.

 

[ben]

I remember having largely identical arguments about Macri, back in 2015. That blaming the whole economy on him in the first month was absurd., as was blaming on him the inevitable unpleasantness that would stem from necessary fixes.
That said, clearly he did not succeed in righting things at all, which is why he deservedly lost. I miss @camberiu’s analysis in this regard.
And Milei may equally be a big f-up.

 

[sts7049]

Are these soup kitchens still funded?

I wonder how many of these 56% that voted for Milei recognized that they are signing up for major surgery without anesthesia with a probability of success rate of like 30%?

if you voted that blindly without paying attention to what he was saying you are a moron

 

[retiredbanker]

"I'll gladly pay you Tuesday for a hamburger today"......J. Wellington Wimpy,

 

[Quilombo]

Kicillof/Cristina/Macri are the gifts that keep on giving. I'm often reminded of the following clip from Breaking Bad; the average Argentine plays the role of Saul in this metaphor: