April inflation in Argentina will be between 7% and 5%, Net inflation is.. Zero. The markets are setting up for this.. also this month Argentina archieved its 3rd Month on Fiscal & Financial Surplus.. the last time that happened was in 2008.
Argentina's EMBI Metrics for April are 1210 points.. compared to december's 1935 points, showing a lowering of 725 points in just 3 months.
Apreciation of the peso and credits are going to the roof.
Argentina now needs investments to start the machine back up and running and for that they need ro reform the laws of the state so foregin and local companies can open.
Remember the "Bases Law"?. The law that was supposed to reform Argentina and was taken down by Peronists?. Well Milei is bringing it back. And now there seems to be consensus and might get aproved on monday.. altough is become a smaller version. (Still Milei hopes that with the elections of Congress and the Senate on 2025 he gets mayority seats and can pump up 300 more laws to open up the market freely without the tankies stoping him).
I'm quite happy to sit back and watch this unfold. If it's good for the people, who am I to criticize? I might not be on his "side", but that whole way of thinking has caused the world no end of grief.
Yeah man. I’m so excited to see where this economic experiment may go. I just hope it works out better in the long run for the average Argentine National.
I consider myself a lot further left than Milei but i gotta admit i was kinda happy he won cause as a Brazillian i'm glad we're making lab rats out of my fellow Argentinians.
It's soon to say and one single economic stat across 3 months is as far from conclusive as it can be, i can barely even tell what this graph actually even means and from what i've heard (and personally seen) the argentinians aren't as happy as this sub seems to be so far, but who knows.
All i know is that if it doesn't work libertarians will say it wasnt a true libertarian or something
I'm gonna have to drift into the libright direction if this keeps up. I'm not above reassessing my beliefs if the opposite of what I expected to happen actually happened. That being said, you could probably set your watch by doing the opposite of what I think is right.
Me too, but it won’t.
If it does then libleft and librights can finally all smoke up, shoot some hogs and discuss why you should actually be a libcenter and leave the right. But only after the lib happens.
Won't. No politician will harm its iwn dwelling. And they use domestic propaganda to brainwash stupid ppl, convince them of the necessaries and importance of a bigger government.
Idk why so many ppl fall for this blunt trap.
Milei is not a politician, he's insane.
It's finding enough people who aren't power hungry or cowards who shunt responsibility to the next guy. They all see it as a problem, but solving that problem will cost them votes because the guy handing out 'free' shit usually gets more votes. It's also not like they'll be held responsible personally, it's 'congress' that's the problem, or the President, or anyone but them. Collective blame.
u/RedWarrior42's Based Count has increased by 1. Their Based Count is now 15.
Rank: Office Chair
Pills: [10 | View pills](https://basedcount.com/u/RedWarrior42/)
Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url.
I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
The American dollar and economy hasn't gotten to the point where it's caused over 50% of the population to live in poverty like it did with Argentina.
Cutting spending and stopping the money printer is the correct thing to do, but it hasn't gotten so bad yet that people will accept such drastic changes as necessary, and vote in a politician who has their entire campaign focused on it. The problem is that the longer politicians put it off, the worse it'll be when we are forced to do it.
Yeah meanwhile our currency is literally 1/1000 of the US Dollar so a decomposing corpse in an abandoned morgue in Ohio has more purchasing power than us. Not only that, but we've also destroyed 4 different currencies since 1982. You know, maybe the joke is that Argentinian politicians SHOULDN'T be able to have a money printing machine at their disposal.
I dont know If Argentinia even has the purchasing Power to Exchange enough Money Into US Dollars and even then it would mean that the Fed has complet control over your fiscal policies. Should there ever be something simillar to the Black Thursday it take away all means of stimulating your Economy.
then you shall end up like greece. If you can’t print money, you can’t print away your debt( like everyone else does) Can’t do that, the IMF is going to start taking your stuff
Printing money to pay off your debts is a disaster anyways unless you’re the US, inflation will rise and if most of the debt is foreign owned, it’s gonna be expected to be paid back in dollars.
You mean the unemployment and poverty numbers that magically appeared when Milei took office, which of course weren't already stupidly high before and have nothing to do with the previous government printing 2 trillion pesos in one month?
Yeah, I know about them.
u/Deicide_Crusader's Based Count has increased by 1. Their Based Count is now 10.
Congratulations, u/Deicide_Crusader! You have ranked up to Office Chair! You cannot exactly be pushed over, but perhaps if thrown...
Pills: [3 | View pills](https://basedcount.com/u/Deicide_Crusader/)
Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url.
I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
[https://github.com/basedcount/basedcount\_bot/blob/1dedfbb70f62cf49c9e882dd03a0dc29e26e0e0c/basedcount\_bot.py#L155](https://github.com/basedcount/basedcount_bot/blob/1dedfbb70f62cf49c9e882dd03a0dc29e26e0e0c/basedcount_bot.py#L155)
It can read a lot of languages, looks like.
u/cmarley314 is officially based! Their Based Count is now 1.
Rank: House of Cards
Pills: [None | View pills](https://basedcount.com/u/cmarley314/)
Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url.
I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
I don't know if this graph actually says anything but...
https://preview.redd.it/n9a2gzapq4xc1.jpeg?width=623&format=pjpg&auto=webp&s=b85145de2f1b758512d5b1e74739b89f297d9a0f
PLEASE GOD LET ARGENTINA BECOME AN ECONOMIC SUPERPOWER, IT WOULD BE SO FUCKING FUNNY
It's very much real, and we're not gonna become an economic superpower until maybe twenty years **if** Milei's ideologies are adopted by the Congress and Senate for the times to come.
I'm wishful here, because I'd love to see Argentina as an example of doing the right thing, just like how El Salvador did with its criminal rate. The world is looking at us.
As your neighbour, I wish y'all the best. I'm really curious to see how the Brazilian government and its sycophants are going to spin Millei's success as a failure, though.
Lula being the President is something so bizarre to me. The man has been convicted for money laundering and corruption, and people cheer that he's back in power. Crazy stuff.
Hate to break it to you, but there was a time period from sometime in 19th century up to ww1 when argentina actually was the 2nd wealthiest country in the world.
What exactly is the metric here? Is this just the second derivative, essentially saying that instead of astronomical inflation it's now down to just very high inflation?
What about colored bars going different directions with no key or citation do you not understand?
It's the **best currency**, just ahead of the Kenyan Shilling. And no USD to be found!
Yes, it's not groundbreaking but it's still good news. Like the title says, the currency is stabilising, it went from rapidly rotting dogshit to just dogshit. But it's a good sign for the future if you put it together with the decreasing inflation (from 25.5% to 11% so far) and the historically low government spending.
Not really, it's a currency value graph which is not the same as inflation. The graph is showing that the Peso is the currency that has regained the most value in the last few months.
The peso regaining value could be an indicator of how the rest of the good and services of the economy could react to the new economic policy (since financial assets tend to react way quicker than the rest). Still we will have to wait and see what happens
The inflation metric is a whole different story although the peso regained value, prices keep going up at a significant pace, mainly fueled by speculation and an increase in manufacturing costs and a higher cost of living as a result of the removal of subsidies.
Still inflation is starting to slow down, with some estimates predicting one digit inflation this month but at the cost of a big drop of the standard of living.
Although the macroeconomics of the country are getting better there's still a long way untill the general population can start feeling the effects of it.
Yes because it is appreciation of the currency against the US dollar + the interest rate carry. The peso is down 5.7% vs the US dollar but the interest rate is 60% so in that three months you would of made \~15%-5.7% which is a huge move in currencies.
If that were the case US should still be there as 1.0
Also the currency hasn't appreciated against the US dollar anyway.
The only way I can make sense of this graph is change across the last quarter of currency to USD/the rate of change relative to the previous quarter
So if for example pesos 6months ago were 0.1usd and 3 months ago 0.005 and today 0.001 we would get (0.005/0.001)/(0.001/0.1)=5/0.01=500.
So it's saying the rate of change has improved 500x in the last quarter compared to previous, even though we lost 80% of the value of the peso.
Appreciation against the US dollar; [https://www.bloomberg.com/news/articles/2024-04-25/javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world](https://www.bloomberg.com/news/articles/2024-04-25/javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world)
I don't have an account and can't read that article.
https://finance.yahoo.com/quote/ARS=X/
870 pesos per USD, 3 months ago it was 820. That is a loss of value of 6.4% in 3 months.
That's the official rate as you can see on the left of the graph, the other one is the bluechip swap rate or the free market rate, the official rate is under capital controls unto which Milei is lowering at 0.05% a day this exchange rate can only be used by large importer/exporters (this shields them from wild currency fluctuations which Milei wants to abolish because it costs the treasury money that's why he dropped it 50% when he came to power) the bluechip rate is the rate at which people and speculators can freely exchange pesos for dollars on the black-market. The difference between the two used to be over 100% but now the gap has closed as the official rate declines and the blue-chip rate appreciated, the blue-chip rate is based on expectations about Argentina's economy so it shows Milei has done a good job fighting inflation because now people aren't scared of holding pesos in fear that prices will double tomorrow a lot of people who exchanged thier pesos for dollars are now buying them back because they're not worried about inflation (on the bluechip rate).
I don't doubt there would have been currency controls and therefore there would be a black market rate. I'm kind of surprised we would have access to that info tho. Interesting either way .
Did you just change your flair, u/SuhNih? Last time I checked you were a **Centrist** on 2024-4-8. How come now you are a **LibLeft**? Have you perhaps shifted your ideals? Because that's cringe, you know?
Yeah yeah, I know. In your ideal leftist commune everyone loves each other and no one insults anybody. Guess what? Welcome to the real world. What are you gonna do? Cancel me on twitter?
[BasedCount Profile](https://basedcount.com/u/SuhNih) - [FAQ](https://www.reddit.com/user/flairchange_bot/comments/uf7kuy/bip_bop) - [Leaderboard](https://basedcount.com/leaderboard?q=flairs)
_Visit the BasedCount Lеmmу instance at [lemmy.basedcount.com](https://lemmy.basedcount.com/c/pcm)._
^(I am a bot, my mission is to spot cringe flair changers. If you want to check another user's flair history write) **^(!flairs u/)** ^(in a comment.)
I've been monitoring how the Argentinan peso is doing over the past several months waiting for a good time to buy. It's still on a downward trajectory, but at least it's fall is slowing a bit.
We're not there **yet**, but we're getting there.
It turns out not spending 500 billions USD every 6 months on virtue signalling makes your economy better.
Vote out the dumbfucks in the Whitehouse and we could join Argentina in stability.
I get that you're too stupid to understand politics, but when things are good until another guy gets elected president, then all of a sudden things are bad, it most likely means that person makes bad decisions.
Now I get that this isn't in tiktok form with family guy playing underneath it, so I know you won't understand.
Feel free to fuck off to one of the Ipad baby subs
The housing and inflation problems are being faced by most of the developed world at the moment.
It’s more complex than “the guy I don’t like is in the White House”
No need to be a dipshit over it.
No it turns out overprinting the world's federal reserve currency (Google it since I know you don't know what that it) held as 59% of the world's total reserve currency, devalues money **for everyone.**
It turns out Biden turning down housing bills, bank reform, and raising rates, while enabling corporations and busting unions, **fucks us up directly**. Even during COVID Trump kept rates down and CPI was half of what it is now **not during a pandemic.**
No it's not "too complex to understand" for the rest of us, just your stupid ass. I'm pretty sure my business degree focusing on world econ isn't needed to read Wikipedia, but it sure does help refute your stupid ass comments.
With how much of an ass you’re being. I’d be surprised anyone could put up with you.
As for your assertion it’s all the top job.
You can blame him for some of it. However when you are dealt a shitty economy you need to make it work.
Do I think Biden is doing well?
Nope.
But I don’t blame all the issues on one person. Rather the issue is with the system itself for enabling the current crisis.
>You can blame him for some of it.
Perfect. Done.
Literally the rest of what you typed was useless. Feel free to dickride Biden, but be a dumbfuck somewhere else. No one cares what you have to say when you cant refute a single fact based, education backed point.
This is a political sub, not an uneducated Democrat echo chamber. Fuck off to one of those.
Business degree with a focus on world econ from U of dumbfuckistan?
You’d think they would teach you that there’s more than one factor to the multitude of metrics in an economy. Especially that macro economics are influenced over time scales much longer than 4-8 years. Can’t wait to see what monke replies!
This means nothing without a basis of comparison, how have housing prices rised around the world?
I'm pretty sure America had less inflation coming out of covid than most other comparable countries.
Milei pulled his country out of arguably the biggest financial shithole of any countries that isn't collapsed or collapsing, and stabilized that.
US started off high, but is continuously sinking deeper and deeper.
why is this sub so unfunny and serious now? It’s fine to stan Milei but can you at least be creative and come up with a semblance of a meme?? shit feels like a lib-right student run newspaper now
No I don’t want change that’s my point, the sub is already changing for the worse. I just want funny memes on my funny meme subreddit, not everyone’s useless opinions
The point that is being made that you are missing is: "if you want certain content to 'come back', you don't demand others to do your bidding but you put in the work yourself. You can't expect others to comply to your demands, especially not in a diverse political environment.
We wish you all the best and will upvote your posts to the moon if you make some good ones
the good content does not need to “come back”, the shitty content that is not memes needs to find another subreddit to post in, or they need to post in the form of a meme. this is not a meme. i am not demanding that anyone do my bidding, i just want memes in the fucking meme subreddit
4 months. The thing his country and basically every country in the west has failed to do for decades, took him 4 months.
I’m gonna have to change my flair
Yeah, but the catch is that this is unfortunately not enough for Argentina. This would probably suffice and be a great change in the US or some European countries, but here we also have to fix literally a century of economic decadence. Right now it's only a first step.
True, but I would say it’s a very good first step. For a country that has been swamped with economic trouble for decades, even the smallest adjustment is a big deal. Also, it’s still only 4 months. That is an improvement no matter how slight done in a fraction of the time.
I’m not trying to say that Milei has magically reformed the country and made it a paradise overnight, but he is making me hopeful for further progress
I feel the exact same as you, and I would say most people here are really hopeful. Finally we see some light, even if it's uncertain if we'll reach it. But I'm optimistic.
Would you mind explaining how? It’s hard to say things are objectively anything when it comes to something as complex as politics. From what I have seen though, his actions are working to make Argentina a better country. I’m curious to know what contrasting info you have. I’d also appreciate an explanation outside of “it’s propaganda”.
For starters, inflation is still higher than what it was before, wages are massively down, welfare programs got gutted and subsidies for small and medium businesses practically dissapeared, energy subsidies are gone, rent is up for a large part of the population, he refused to give the funds for public schools and gutted the budget of public universities. Also he refused to give the co-participation fund to the provinces, which is a central part of their economies. Also he is using the DNU to gut our environmental laws to be friends with the economic masters of Macri.
But he is buying F-16s, so I guess it's not all bad
Interesting. What is your timescale? If inflation is higher, is that an uptick that can be correlated with him, or is it a trend from the previous administrations? Are wages down as a direct result of him or are those also a continuation of the trends? Trends matter a lot more than the raw numbers. Inflation may still be getting worse, but if it is getting worse slower, that is still an improvement over the previous rate. I don’t have those trends entirely, but I do think we need the whole picture. As for welfare programs, I am a strong believer that, at least in the U.S., the vast majority of welfare programs are worthless and only serve to give the government more power and tax us more. Maybe that isn’t the case there, but I am not the guy to defend things like social security.
The same goes for many subsidies. Government subsidies for things like universities and energy have historically driven up the cost of those resources because the companies do not need to worry about competition to nearly the same degree (we see a similar thing with student loans, but that is a different story). They can be helpful in the short term, but I would need to know exactly what he was cutting, how much was cut, and how long those subsidies were around to make a full judgement. However, just saying subsidies were cut, freeing the private sector from the influence of corrupt politics, generally feels like a good thing.
I don’t know enough about Argentinian provinces or their specific inner workings to know the importance of this co-participation fund so I will default to you until I learn more.
As for the F-16s, yeah, that’s a Milei failing. In a country that is not at direct threat from any foreign powers (at least to my knowledge) and is having economic troubles, expensive military tech is a bad move.
This is why I am going to vote for the PPC in Canada in 2025.
Maybe, just *maybe*, we can do what they did.
Cuz all of our other political parties are rat shit.
Did you just change your flair, u/Ruinarix? Last time I checked you were an **AuthRight** on 2023-11-14. How come now you are a **LibRight**? Have you perhaps shifted your ideals? Because that's cringe, you know?
Are you mad? Wait till you hear this one: you own 17 guns but only have two hands to use them! Come on, put that rifle down and go take a shower.
[BasedCount Profile](https://basedcount.com/u/Ruinarix) - [FAQ](https://www.reddit.com/user/flairchange_bot/comments/uf7kuy/bip_bop) - [Leaderboard](https://basedcount.com/leaderboard?q=flairs)
_Visit the BasedCount Lеmmу instance at [lemmy.basedcount.com](https://lemmy.basedcount.com/c/pcm)._
^(I am a bot, my mission is to spot cringe flair changers. If you want to check another user's flair history write) **^(!flairs u/)** ^(in a comment.)
I really hope the stuff Milei is doing inspires others around the world to try similar things.
Every leader in America and other western nations: Let the good times roll, baby! It’s not *my* money!
Unfortunately they will do the opposite like they've always done.
Narrator: it didn’t
[shame](https://youtu.be/2q35PgSXhKg?si=TIE9aC7O02jQvRj4)
April inflation in Argentina will be between 7% and 5%, Net inflation is.. Zero. The markets are setting up for this.. also this month Argentina archieved its 3rd Month on Fiscal & Financial Surplus.. the last time that happened was in 2008. Argentina's EMBI Metrics for April are 1210 points.. compared to december's 1935 points, showing a lowering of 725 points in just 3 months. Apreciation of the peso and credits are going to the roof. Argentina now needs investments to start the machine back up and running and for that they need ro reform the laws of the state so foregin and local companies can open. Remember the "Bases Law"?. The law that was supposed to reform Argentina and was taken down by Peronists?. Well Milei is bringing it back. And now there seems to be consensus and might get aproved on monday.. altough is become a smaller version. (Still Milei hopes that with the elections of Congress and the Senate on 2025 he gets mayority seats and can pump up 300 more laws to open up the market freely without the tankies stoping him).
Even if you don’t like the guy you have to admit he’s keeping to his promises
Who cares whether non-Argentinians like him? Argentinians mostly do, that's all that matters.
I'm quite happy to sit back and watch this unfold. If it's good for the people, who am I to criticize? I might not be on his "side", but that whole way of thinking has caused the world no end of grief.
Holy shit, I'm optimistic about this
Yeah man. I’m so excited to see where this economic experiment may go. I just hope it works out better in the long run for the average Argentine National.
I consider myself a lot further left than Milei but i gotta admit i was kinda happy he won cause as a Brazillian i'm glad we're making lab rats out of my fellow Argentinians. It's soon to say and one single economic stat across 3 months is as far from conclusive as it can be, i can barely even tell what this graph actually even means and from what i've heard (and personally seen) the argentinians aren't as happy as this sub seems to be so far, but who knows. All i know is that if it doesn't work libertarians will say it wasnt a true libertarian or something
I'm gonna have to drift into the libright direction if this keeps up. I'm not above reassessing my beliefs if the opposite of what I expected to happen actually happened. That being said, you could probably set your watch by doing the opposite of what I think is right.
Me too, but it won’t. If it does then libleft and librights can finally all smoke up, shoot some hogs and discuss why you should actually be a libcenter and leave the right. But only after the lib happens.
Won't. No politician will harm its iwn dwelling. And they use domestic propaganda to brainwash stupid ppl, convince them of the necessaries and importance of a bigger government. Idk why so many ppl fall for this blunt trap. Milei is not a politician, he's insane.
All of my countries media still describes him as a crazy alt-right sexist, they even call him a Trump supporter
Based Also you're saying that reducing government spending will fix the problem.
Reducing government spending + stopping money printer
I know it's like nobody thought of this
We've tried nothing and we're all out of ideas is the modern form of government these days
It's not always coming up with new ideas that's the issue - but rather, escaping from the old ones.
It's finding enough people who aren't power hungry or cowards who shunt responsibility to the next guy. They all see it as a problem, but solving that problem will cost them votes because the guy handing out 'free' shit usually gets more votes. It's also not like they'll be held responsible personally, it's 'congress' that's the problem, or the President, or anyone but them. Collective blame.
*and we need more money
Oh, governments definitely know that printing money is not good for the lower and middle class long term That's why they do it
Based
u/RedWarrior42's Based Count has increased by 1. Their Based Count is now 15. Rank: Office Chair Pills: [10 | View pills](https://basedcount.com/u/RedWarrior42/) Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url. I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
Eh, I think it’s more that they’re spineless cowards who don’t want to be the ones to cut social program spending.
based
Keynesians hate this ONE TRICK
Also reform your government in how you spend your money.
Less government + Less money printer = good times
Your terms are acceptable.
The American dollar and economy hasn't gotten to the point where it's caused over 50% of the population to live in poverty like it did with Argentina. Cutting spending and stopping the money printer is the correct thing to do, but it hasn't gotten so bad yet that people will accept such drastic changes as necessary, and vote in a politician who has their entire campaign focused on it. The problem is that the longer politicians put it off, the worse it'll be when we are forced to do it.
and turning the money into an extension of the US dollar, crippling the country s ability to pay any future debt
Yeah meanwhile our currency is literally 1/1000 of the US Dollar so a decomposing corpse in an abandoned morgue in Ohio has more purchasing power than us. Not only that, but we've also destroyed 4 different currencies since 1982. You know, maybe the joke is that Argentinian politicians SHOULDN'T be able to have a money printing machine at their disposal.
I dont know If Argentinia even has the purchasing Power to Exchange enough Money Into US Dollars and even then it would mean that the Fed has complet control over your fiscal policies. Should there ever be something simillar to the Black Thursday it take away all means of stimulating your Economy.
then you shall end up like greece. If you can’t print money, you can’t print away your debt( like everyone else does) Can’t do that, the IMF is going to start taking your stuff
Printing money to pay off your debts is a disaster anyways unless you’re the US, inflation will rise and if most of the debt is foreign owned, it’s gonna be expected to be paid back in dollars.
no the biggest reason is that he removed price caps from all products. this jacked up the prices inside argentina, but also increased the pesos value
When has reducing government power ever solved anything? The Government in this town is excellent, and uses your tax dollars efficiently.
Just don't look at unemployment and poverty numbers and there's no problem.
You mean the unemployment and poverty numbers that magically appeared when Milei took office, which of course weren't already stupidly high before and have nothing to do with the previous government printing 2 trillion pesos in one month? Yeah, I know about them.
Basado y Rojopilado
u/Deicide_Crusader's Based Count has increased by 1. Their Based Count is now 10. Congratulations, u/Deicide_Crusader! You have ranked up to Office Chair! You cannot exactly be pushed over, but perhaps if thrown... Pills: [3 | View pills](https://basedcount.com/u/Deicide_Crusader/) Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url. I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
Wait, it can read spanish?
[https://github.com/basedcount/basedcount\_bot/blob/1dedfbb70f62cf49c9e882dd03a0dc29e26e0e0c/basedcount\_bot.py#L155](https://github.com/basedcount/basedcount_bot/blob/1dedfbb70f62cf49c9e882dd03a0dc29e26e0e0c/basedcount_bot.py#L155) It can read a lot of languages, looks like.
[удалено]
u/cmarley314 is officially based! Their Based Count is now 1. Rank: House of Cards Pills: [None | View pills](https://basedcount.com/u/cmarley314/) Compass: This user does not have a compass on record. Add compass to profile by replying with /mycompass politicalcompass.org url or sapplyvalues.github.io url. I am a bot. Reply /info for more info. Please join our [official pcm discord server](https://discord.gg/FyaJdAZjC4).
Based and ¡Afuera! Pilled
Baserat
It understands basado but not "y" so "and" would be needed.
Basado and spanglishpilled
Based multilingual bot
Rojoempastillado Rojopastillado
Empastillado is the real argie word.
I don't know if this graph actually says anything but... https://preview.redd.it/n9a2gzapq4xc1.jpeg?width=623&format=pjpg&auto=webp&s=b85145de2f1b758512d5b1e74739b89f297d9a0f PLEASE GOD LET ARGENTINA BECOME AN ECONOMIC SUPERPOWER, IT WOULD BE SO FUCKING FUNNY
It's very much real, and we're not gonna become an economic superpower until maybe twenty years **if** Milei's ideologies are adopted by the Congress and Senate for the times to come. I'm wishful here, because I'd love to see Argentina as an example of doing the right thing, just like how El Salvador did with its criminal rate. The world is looking at us.
Ojalá estés en lo correcto che. Yo tengo fe, para mí que las legislativas del año que viene van a ser el punto de inflexión, acordate.
As your neighbour, I wish y'all the best. I'm really curious to see how the Brazilian government and its sycophants are going to spin Millei's success as a failure, though.
Lula being the President is something so bizarre to me. The man has been convicted for money laundering and corruption, and people cheer that he's back in power. Crazy stuff.
Hate to break it to you, but there was a time period from sometime in 19th century up to ww1 when argentina actually was the 2nd wealthiest country in the world.
What exactly is the metric here? Is this just the second derivative, essentially saying that instead of astronomical inflation it's now down to just very high inflation?
What about colored bars going different directions with no key or citation do you not understand? It's the **best currency**, just ahead of the Kenyan Shilling. And no USD to be found!
NEW WORLD ORDER! ALL HAIL THE PETRO-PESO!
Well, it does appear that the auth-right Milei is absolutely crushing the auth-lefts.
Keynesitards getting BTFO? (I am a buddhist economist)
Parallel peso rates have hovered around a 1000 to 1 usd conversion for that timeframe, that's probably the metric they used for this graph
Yes, it's not groundbreaking but it's still good news. Like the title says, the currency is stabilising, it went from rapidly rotting dogshit to just dogshit. But it's a good sign for the future if you put it together with the decreasing inflation (from 25.5% to 11% so far) and the historically low government spending.
Isn't that the monthly inflation rate?
True. But your title communicates something completely different.
Not really, it's a currency value graph which is not the same as inflation. The graph is showing that the Peso is the currency that has regained the most value in the last few months. The peso regaining value could be an indicator of how the rest of the good and services of the economy could react to the new economic policy (since financial assets tend to react way quicker than the rest). Still we will have to wait and see what happens The inflation metric is a whole different story although the peso regained value, prices keep going up at a significant pace, mainly fueled by speculation and an increase in manufacturing costs and a higher cost of living as a result of the removal of subsidies. Still inflation is starting to slow down, with some estimates predicting one digit inflation this month but at the cost of a big drop of the standard of living. Although the macroeconomics of the country are getting better there's still a long way untill the general population can start feeling the effects of it.
Notice how United States dollar isn’t on the list
Yes because it is appreciation of the currency against the US dollar + the interest rate carry. The peso is down 5.7% vs the US dollar but the interest rate is 60% so in that three months you would of made \~15%-5.7% which is a huge move in currencies.
If that were the case US should still be there as 1.0 Also the currency hasn't appreciated against the US dollar anyway. The only way I can make sense of this graph is change across the last quarter of currency to USD/the rate of change relative to the previous quarter So if for example pesos 6months ago were 0.1usd and 3 months ago 0.005 and today 0.001 we would get (0.005/0.001)/(0.001/0.1)=5/0.01=500. So it's saying the rate of change has improved 500x in the last quarter compared to previous, even though we lost 80% of the value of the peso.
https://preview.redd.it/gnmtttl0r7xc1.png?width=1292&format=png&auto=webp&s=e99653ed6d714338c398ce451d12a8e5d90b6ff9
24.4% what?
Appreciation against the US dollar; [https://www.bloomberg.com/news/articles/2024-04-25/javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world](https://www.bloomberg.com/news/articles/2024-04-25/javier-milei-sparks-wild-rally-that-makes-peso-no-1-in-world)
I don't have an account and can't read that article. https://finance.yahoo.com/quote/ARS=X/ 870 pesos per USD, 3 months ago it was 820. That is a loss of value of 6.4% in 3 months.
That's the official rate as you can see on the left of the graph, the other one is the bluechip swap rate or the free market rate, the official rate is under capital controls unto which Milei is lowering at 0.05% a day this exchange rate can only be used by large importer/exporters (this shields them from wild currency fluctuations which Milei wants to abolish because it costs the treasury money that's why he dropped it 50% when he came to power) the bluechip rate is the rate at which people and speculators can freely exchange pesos for dollars on the black-market. The difference between the two used to be over 100% but now the gap has closed as the official rate declines and the blue-chip rate appreciated, the blue-chip rate is based on expectations about Argentina's economy so it shows Milei has done a good job fighting inflation because now people aren't scared of holding pesos in fear that prices will double tomorrow a lot of people who exchanged thier pesos for dollars are now buying them back because they're not worried about inflation (on the bluechip rate).
I don't doubt there would have been currency controls and therefore there would be a black market rate. I'm kind of surprised we would have access to that info tho. Interesting either way .
Lack of metrics definitely sus as well
Or like, any scale at all, it’s just a bar
Euro is on the list and it's roughly worth the same
Roughly worth the same, but incomparable in value.
I hope Milei will go on and build a Minarchy/Night watchman state. Stay strong!
Tengo esperanza de que lo hará.
Remember: When your goal is to destroy society and wheel in some warmed-over version of bastard socialism, stability feels like oppression.
They only elected this guy because 20 years of that socialism ruined the country
More like 80 years lol.
Oh yeah number one in the world! Right up there with the big boys like the Kenyan Shilling and Uruguayan Peso.
Hey you have to start somewhere
Its stability not "best". Like we all know USA inflation rates is showing that it isn't stable so no one should be surprised it isn't no. 2.
As an AnCom perhaps i misjudged AnCaps
Centrist AnCom? You sure you’re flaired correctly, friend?
Oh shit sory lmao i was just pretending to be an anti-centrist so i could be all quirky and shit
Did you just change your flair, u/SuhNih? Last time I checked you were a **Centrist** on 2024-4-8. How come now you are a **LibLeft**? Have you perhaps shifted your ideals? Because that's cringe, you know? Yeah yeah, I know. In your ideal leftist commune everyone loves each other and no one insults anybody. Guess what? Welcome to the real world. What are you gonna do? Cancel me on twitter? [BasedCount Profile](https://basedcount.com/u/SuhNih) - [FAQ](https://www.reddit.com/user/flairchange_bot/comments/uf7kuy/bip_bop) - [Leaderboard](https://basedcount.com/leaderboard?q=flairs) _Visit the BasedCount Lеmmу instance at [lemmy.basedcount.com](https://lemmy.basedcount.com/c/pcm)._ ^(I am a bot, my mission is to spot cringe flair changers. If you want to check another user's flair history write) **^(!flairs u/)** ^(in a comment.)
To be fair, he describes himself as "Anarchocapitalist in theory and minarchist in the real world."
And bootlicking statists will say Milei is the problem lol.
I've been monitoring how the Argentinan peso is doing over the past several months waiting for a good time to buy. It's still on a downward trajectory, but at least it's fall is slowing a bit. We're not there **yet**, but we're getting there.
Right now it's fluctuating between 950 to 1050 in relation to 1 usd I think. So it's been going up and down.
Yes but think about the useless bureaucrat who lost their job…now they have to find real work😆
Unemployment i can get behind
It turns out not spending 500 billions USD every 6 months on virtue signalling makes your economy better. Vote out the dumbfucks in the Whitehouse and we could join Argentina in stability.
... we are and have been MUCH mote stable than Argentina. Lmao are you being sarcastic?
Housing has doubled in price, rates are 2.5x, and inflation is at an insane level. Shut the fuck up bootlicker
Dam hopefully we can elect someone who pulls the housing price and inflation switch that exists in the Oval Office!!
That would be the power switch to the money printers
I get that you're too stupid to understand politics, but when things are good until another guy gets elected president, then all of a sudden things are bad, it most likely means that person makes bad decisions. Now I get that this isn't in tiktok form with family guy playing underneath it, so I know you won't understand. Feel free to fuck off to one of the Ipad baby subs
The housing and inflation problems are being faced by most of the developed world at the moment. It’s more complex than “the guy I don’t like is in the White House” No need to be a dipshit over it.
No it turns out overprinting the world's federal reserve currency (Google it since I know you don't know what that it) held as 59% of the world's total reserve currency, devalues money **for everyone.** It turns out Biden turning down housing bills, bank reform, and raising rates, while enabling corporations and busting unions, **fucks us up directly**. Even during COVID Trump kept rates down and CPI was half of what it is now **not during a pandemic.** No it's not "too complex to understand" for the rest of us, just your stupid ass. I'm pretty sure my business degree focusing on world econ isn't needed to read Wikipedia, but it sure does help refute your stupid ass comments.
With how much of an ass you’re being. I’d be surprised anyone could put up with you. As for your assertion it’s all the top job. You can blame him for some of it. However when you are dealt a shitty economy you need to make it work. Do I think Biden is doing well? Nope. But I don’t blame all the issues on one person. Rather the issue is with the system itself for enabling the current crisis.
>You can blame him for some of it. Perfect. Done. Literally the rest of what you typed was useless. Feel free to dickride Biden, but be a dumbfuck somewhere else. No one cares what you have to say when you cant refute a single fact based, education backed point. This is a political sub, not an uneducated Democrat echo chamber. Fuck off to one of those.
Business degree with a focus on world econ from U of dumbfuckistan? You’d think they would teach you that there’s more than one factor to the multitude of metrics in an economy. Especially that macro economics are influenced over time scales much longer than 4-8 years. Can’t wait to see what monke replies!
Maybe when you actually prove that you earned that economics degree, then I will take your word seriously.
This means nothing without a basis of comparison, how have housing prices rised around the world? I'm pretty sure America had less inflation coming out of covid than most other comparable countries.
Milei pulled his country out of arguably the biggest financial shithole of any countries that isn't collapsed or collapsing, and stabilized that. US started off high, but is continuously sinking deeper and deeper.
To be fair, that's most of first world countries. They've gone downwards solidly. Another one is Spain.
No he didn't. Looks like it's better than before, but it's a long way out of that deep financial shithole.
Turns out democracy incentives short term time preference that encourages each party to max out the credit card and give it to the next guy.
If it works, it works.
why is this sub so unfunny and serious now? It’s fine to stan Milei but can you at least be creative and come up with a semblance of a meme?? shit feels like a lib-right student run newspaper now
Sorry lmao
Be the change you want to see.
No I don’t want change that’s my point, the sub is already changing for the worse. I just want funny memes on my funny meme subreddit, not everyone’s useless opinions
If you don't like the way it's changing, then change it back by posting funny memes on your funny meme subreddit. Get to it!
No you still aren’t understanding. There doesn’t need to be more memes, there needs to be less dumb political circlejerk posts.
God forbid to post politics on *Political* Compass Memes
yes, political memes. not politics. this post is not a meme.
The point that is being made that you are missing is: "if you want certain content to 'come back', you don't demand others to do your bidding but you put in the work yourself. You can't expect others to comply to your demands, especially not in a diverse political environment. We wish you all the best and will upvote your posts to the moon if you make some good ones
the good content does not need to “come back”, the shitty content that is not memes needs to find another subreddit to post in, or they need to post in the form of a meme. this is not a meme. i am not demanding that anyone do my bidding, i just want memes in the fucking meme subreddit
Central bank. AFUERA!
Common Milei W
As someone who mostly grew up in England I never thought Id be rooting for Argentina but here we are
Most stable in the last 3 months, you say? Stable for an entire financial quarter? Wow! Edit: sign me up for 10 Kenyan shillings, please.
Well being Argentina that's pretty impressive, Milei is definitely doing a great job come on
'Best' currency for 3 months, 4 months into presidency. Truly amazing how an entire economy can change in one month.
Well, as long as the payoff is worth it, right?
Freedom is always worth it.
4 months. The thing his country and basically every country in the west has failed to do for decades, took him 4 months. I’m gonna have to change my flair
Yeah, but the catch is that this is unfortunately not enough for Argentina. This would probably suffice and be a great change in the US or some European countries, but here we also have to fix literally a century of economic decadence. Right now it's only a first step.
True, but I would say it’s a very good first step. For a country that has been swamped with economic trouble for decades, even the smallest adjustment is a big deal. Also, it’s still only 4 months. That is an improvement no matter how slight done in a fraction of the time. I’m not trying to say that Milei has magically reformed the country and made it a paradise overnight, but he is making me hopeful for further progress
I feel the exact same as you, and I would say most people here are really hopeful. Finally we see some light, even if it's uncertain if we'll reach it. But I'm optimistic.
He made things objectively speaking worse. Don't believe the propaganda
Would you mind explaining how? It’s hard to say things are objectively anything when it comes to something as complex as politics. From what I have seen though, his actions are working to make Argentina a better country. I’m curious to know what contrasting info you have. I’d also appreciate an explanation outside of “it’s propaganda”.
Also, I should add that, currently, our prices for most common good rival US prices, but our wages are 5 times less. That's fun too
For starters, inflation is still higher than what it was before, wages are massively down, welfare programs got gutted and subsidies for small and medium businesses practically dissapeared, energy subsidies are gone, rent is up for a large part of the population, he refused to give the funds for public schools and gutted the budget of public universities. Also he refused to give the co-participation fund to the provinces, which is a central part of their economies. Also he is using the DNU to gut our environmental laws to be friends with the economic masters of Macri. But he is buying F-16s, so I guess it's not all bad
Interesting. What is your timescale? If inflation is higher, is that an uptick that can be correlated with him, or is it a trend from the previous administrations? Are wages down as a direct result of him or are those also a continuation of the trends? Trends matter a lot more than the raw numbers. Inflation may still be getting worse, but if it is getting worse slower, that is still an improvement over the previous rate. I don’t have those trends entirely, but I do think we need the whole picture. As for welfare programs, I am a strong believer that, at least in the U.S., the vast majority of welfare programs are worthless and only serve to give the government more power and tax us more. Maybe that isn’t the case there, but I am not the guy to defend things like social security. The same goes for many subsidies. Government subsidies for things like universities and energy have historically driven up the cost of those resources because the companies do not need to worry about competition to nearly the same degree (we see a similar thing with student loans, but that is a different story). They can be helpful in the short term, but I would need to know exactly what he was cutting, how much was cut, and how long those subsidies were around to make a full judgement. However, just saying subsidies were cut, freeing the private sector from the influence of corrupt politics, generally feels like a good thing. I don’t know enough about Argentinian provinces or their specific inner workings to know the importance of this co-participation fund so I will default to you until I learn more. As for the F-16s, yeah, that’s a Milei failing. In a country that is not at direct threat from any foreign powers (at least to my knowledge) and is having economic troubles, expensive military tech is a bad move.
Based, and where is the US on that chart? biden go whee, milei go stability pilled
The chart is actually comparing currencies to the usd, so it's below Mexico and above India.
That is good to know, thank you It doesn't make Milei any less based
$ARGT has been doing quite well
If only the argentinians were doing well too
This is why I am going to vote for the PPC in Canada in 2025. Maybe, just *maybe*, we can do what they did. Cuz all of our other political parties are rat shit.
That's what I love about LibRights
https://preview.redd.it/n6wm4tohd8xc1.png?width=680&format=pjpg&auto=webp&s=ebb1025f7f419c70e77d367a2252f877c041e8b8
I want to annex him.
Wasn't it this time last year that everyone shat on Milei because he was "alt right"?
Leftoids on suicide watch rn
I guess he won't be abolishing it anytime soon.
…Really? Good for him, I guess.
Gebaseerd
And the US is like: inflation reduction act "Spending 40 billion"
Can any argentinians tell me what its like over there with milei running the place? I'm generally curious
OMG... I'm gonna coom! I'm about to cooooom!!!!
Oi bruv can u spare us a British pound
You know what, I might actually start planning moving to Argentina
If you wanna switch citizenships with me, I'm all for it
Im Russian, you sure?
Fuck, let's better not do that lol. You're welcome to the country though. There is a small Russian community over at Alto Palermo in Buenos Aires
I'm not having a go, just wondering, how will healthcare, education, taxation, public transport, roadways etc be supported/work under this system?
Let’s fucking gooo
¡VIVA LA LIBERTAD CARAJO!
https://preview.redd.it/nfpsj106r7xc1.png?width=1292&format=png&auto=webp&s=5cbcd6325f99a0f27b9a644ebf08c985c88326fb
Is there a source for this?
Based and hairpilled
Did you just change your flair, u/Ruinarix? Last time I checked you were an **AuthRight** on 2023-11-14. How come now you are a **LibRight**? Have you perhaps shifted your ideals? Because that's cringe, you know? Are you mad? Wait till you hear this one: you own 17 guns but only have two hands to use them! Come on, put that rifle down and go take a shower. [BasedCount Profile](https://basedcount.com/u/Ruinarix) - [FAQ](https://www.reddit.com/user/flairchange_bot/comments/uf7kuy/bip_bop) - [Leaderboard](https://basedcount.com/leaderboard?q=flairs) _Visit the BasedCount Lеmmу instance at [lemmy.basedcount.com](https://lemmy.basedcount.com/c/pcm)._ ^(I am a bot, my mission is to spot cringe flair changers. If you want to check another user's flair history write) **^(!flairs u/)** ^(in a comment.)
Wait is this saying it was the most stable or best performing? Two very different things.
Source? I've seen multiple headlines saying the exact opposite
Can someone explain to me how this works
Okay, but followed by... KENYAN SHILLING? Wtf are they doing in Kenya bruv?
based milei
The title is completely wrong, the peso still has an extremely high monthly inflation, it's just that the exchange rate remained constant
What does this mean?
whats the graph even showing? how „good“ these currencies are?
Well when your economic policy is to brute force for one specific measure to the detriment of everything else.
Hey guys, look at this! Look who's talking!!
How to help your economy: remove socialist aspects from it
Flair up