Don’t lie to me, Argentina

[mcaffa]

Very interesting article from The Economist about the credibility (and lack thereof) of INDEC’s stats: http://www.economist.com/node/21548242

 

[JWB]

About time.

 

[Crema Americana]

While I agree that the official numbers aren't even close to the truth, I question using "online prices" as a base for inflation statistics. Argentina doesn't have the strongest online buying culture. Seems to me that gaining actual figures from residents on the ground would be a better idea.

 

[2GuysInPM]

Related: http://www.economist.com/node/21548229

 

[LaurenW]

online prices are usually about the same as in store prices, sometimes cheaper.

I wonder how the Economist rejecting her government produced numbers will affect practices here . . .

Another article published today by the Economist as well on Argentina's economy: http://www.economist.com/node/21548229

 

[LaurenW]

also anyone want to bet that CFK blocks online shopping sites now? lol

 

[Napoleon]

Photos of receipts would be good for inflation rates as well.

 

[scotttswan]

While I agree that the official numbers aren't even close to the truth, I question using "online prices" as a base for inflation statistics. Argentina doesn't have the strongest online buying culture. Seems to me that gaining actual figures from residents on the ground would be a better idea.

did they not say the same company does the same for a few countries and these figures mirror official figures and tend to be quite accurate?

 

[Crema Americana]

did they not say the same company does the same for a few countries and these figures mirror official figures and tend to be quite accurate?

They did say that, but I still think that you get a better representation of inflation for the average consumer if you follow their buying habits... which in Argentina doesn't include a lot of online purchases. Stores that have a website (let alone post their prices online!) are quite limited.

Not saying that it's a bogus assessment method, but on the ground comparisons would be better in my opinion.

In any case, I do not need the official numbers nor a foreign 3rd party to tell me that prices have gone up significantly in the past few years. Just have to look at my receipts for that.

 

[Napoleon]

It appears that The Telegraph is no longer overly impressed with Argentina's economic turn around.

But how can that be? Since abandoning the folly of its fixed exchange rate regime with the dollar, Argentina has surely come on in leaps and bounds, right?

Wrong, though that has certainly been the narrative regularly trotted out by opponents of the euro, who frequently point to Argentina to demonstrate the merits of free floating over fixed exchange rate regimes. I've even used it myself. Unfortunately, Argentina far from proves the case, as I've been discovering in the past few days in researching the Argentine economy. With Greece and possibly others set to exit the eurozone over the next year or two, it's worth exploring the lessons.

After returning from her vacation in Santa Cruz, and screaming about the Falklands/Malvinas, while she's avoiding delving into the responsibility of the train wreck, I hope that she has enough energy to address the northern hemisphere starting to lump Argentina's economic model in with Greece & Italy.

http://blogs.telegraph.co.uk/finance/jeremywarner/100015225/argentinas-never-ending-trajedy/