Hyperinflation ante portas

https://oec.world/en/profile/country/arg/

Argentina = USD 60.8Bn Products & USD 14.7Bn Services. USD 1.37k PC. About 20% ends up in Asia and about 16% of exports are manufactured goods like automotive products.
Ecuador = USD 22.1Bn Products & USD 2.3Bn Services. USD 1.3k PC. About 12% ends up in Asia and about 5% of exports or less are manufactured goods.
Panama = USD 3.9Bn Products & USD 13.8Bn Services. USD 950 PC. About 20% ends up in Asia and almost 20% of exports are manufactured goods like ships and components.
Zimbabwe = USD 4.46Bn Products & USD 0.38Bn Services. USD 309 PC. Over 50% ends up in Asia and about 2% ends up in the Americas while manufactured goods are almost non-existant.

I mean, if you ignore all the exports of a country, then no country has exports. If you actually want to learn something instead of just making up numbers, then you are welcome to review world bank data: https://data.worldbank.org/indicator/NE.EXP.GNFS.ZS


Please elaborate - on what do you base this opinion? Hard information is better than sweeping generalizations.

Export data per country as already posted.
 
I mean, if you ignore all the exports of a country, then no country has exports. If you actually want to learn something instead of just making up numbers, then you are welcome to review world bank data: https://data.worldbank.org/indicator/NE.EXP.GNFS.ZS




Export data per country as already posted.
Thanks, I am familiar with this data but I still don't understand your arguments. What you are showing is only exports as a % of GDP, which does not say much when talking about the potential impact of the dollarization of an economy - which to understand you need to look at sheer value, per capita value and export sectors affected which differs for Argentina from the countries in comparison (Zimbabwe, Panama, and Ecuador). Likewise, the export data for Argentina does not suggest geography is a problem as you stated compared to those other countries since much more of its exports end up on the opposite side of the planet.

What exports as a % of GDP may indicate however is a closed economy that differs in policy, which I too am amongst the first to call inefficient. Also as a % of GDP according to your data source, well the United States appears to be 12.2% while Argentina is 17.3% - so what does this say as a standalone statement?

By the way, I provided a link to the data I posted instead of "just making up numbers" as you seem to suggest. I'll provide it again for you so you can go into as much detail as you like: https://oec.world/en/profile/country/arg/
 
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Hey all!

I don't expect those here who follow the neo liberal economic theories to agree, but for a different analysis you may want to look into this:


Cheers!
Hi
i had a glance at the link you sent, thanks! However, I fail to understand what exactly this theory means in this context. Are you saying
1) yes, there will be (more) inflation
2) but this will lead to full employment
3) and once the economy is at full employment, the government has to increase the taxes in order to remove the excess cash?
So at the end there will be no inflation and full employment? But i might also be misinterpreting things here. If you could clarify?
 
Hi
i had a glance at the link you sent, thanks! However, I fail to understand what exactly this theory means in this context. Are you saying
1) yes, there will be (more) inflation
2) but this will lead to full employment
3) and once the economy is at full employment, the government has to increase the taxes in order to remove the excess cash?
So at the end there will be no inflation and full employment? But i might also be misinterpreting things here. If you could clarify?

Hey!

Let me first say that I don't necessarily endorse mmt, nor do I purport to understand it in enough detail to answer your questions. I was just bringing it up as a counterbalance to the standard analysis we often hear when these specific economic issues come up.

If you have time I'd highly recommend listening to the following interview of Professor of Economics and Public Policy at Stonybrooke, former chief economist for the US budget committee, Stephanie Kelton. She will do a far better job than I could in fleshing out the way mmt would look at this.

Interview starts at 14:30. It's about an hour long but well worth it. Enjoy!

 
https://www.infobae.com/economia/20...alismo-pero-la-globalizacion-es-irreversible/

Here is Albie trying to explain his take on what capitalism should look like to the Financial Times.

I feel bad for him. He seems to know the “right” things to say but unfortunately his actions always contradict or undermine it making things go from bad to worse. Then there is the baggage of who he governs with. Perhaps in a different time, a different place we could have been friends.... but he is right that you need quality mass employment make a more prosperous society, like the US and other western economies in the mid-20th century when almost any worker could afford a house and decent standard of life. That generation has it much better than today’s generation, economically speaking. To achieve all that you do need capital investment. But to attract investment you need the rule of law and confidence which takes Argentina back to square one. Hence I am wary of any economic “models” for Argentina actually being anything more than a charla in practice.
 
https://www.infobae.com/economia/20...alismo-pero-la-globalizacion-es-irreversible/

Here is Albie trying to explain his take on what capitalism should look like to the Financial Times.

I feel bad for him. He seems to know the “right” things to say but unfortunately his actions always contradict or undermine it making things go from bad to worse. Then there is the baggage of who he governs with. Perhaps in a different time, a different place we could have been friends.... but he is right that you need quality mass employment make a more prosperous society, like the US and other western economies in the mid-20th century when almost any worker could afford a house and decent standard of life. That generation has it much better than today’s generation, economically speaking. To achieve all that you do need capital investment. But to attract investment you need the rule of law and confidence which takes Argentina back to square one. Hence I am wary of any economic “models” for Argentina actually being anything more than a charla in practice.

Argentine president Alberto Fernández poses next to a portrait in his office of his pet dog Dylan in the uniform of the presidential guard.
I am glad AF has his pet pal, Dylan, to watch over him in the Casa Rosada.
 
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