Not in a ression. If you ask me Argentina has 2 possibly 3 economies.
40% to 60% or more of the population of this country actually lives in a depression, and it has been that way for decades. These are the poor and you will see them lined up at Banco Nacional for blocks several days out of the month. Sort like of our soup lines in the 1930s.
After this we have a small middle class and they are in a resession right now. Automotive is down 24% year over year and auto imports are down 45%. This is Argentinas number 1 Industry at the moment and it is down double digits.
After these folks we have the elite and nothing that happens is going to touch them anyway. Unless the governement takes them out on the way down.
Inflation why? Many reasons supply and demand and other factors. But the population simply does not have the spending power it needs to continue on a growth track with this inflation. It is impossible and no body wants to deal with it or face it. So by the time it hits home it will be far to late.
My calculations estimate that.. inside of 2 to 5 years the entire country will be in a long term depression which may last up to a decade, except for the elite. Unless they are whiped out by the governement on the way down.
Consider this, no absolutely no possible bail outs or outside help on the other side of this. We have been cut off from that by the new radical desperate policies unfolding and escalating every day. All trade partners have been alienated, all multi-national investors and or corporations would not even consider this country for investment. Even the citizens are running for cover in the dollar.
Look around you, desperate people do desperate things. Which tells me, even if I had no understaning of economics, which I do.. that desperate times are ahead.
And ulimately the poor will pay the highest price..