Posted on 09/16/2022 8:43:38 AM PDT by Roman_War_Criminal
Argentina’s central bank raised its benchmark interest rate Thursday in a bid to prop up its currency and curb inflation nearing 100%.
The central bank boosted its benchmark Leliq rate by 5.5 percentage points to 75%, according to an emailed statement. The move comes a day after data showed consumer prices jumped nearly 79% a year in August, the fastest pace in 30 years. It was the bank’s ninth rate hike this year.
The bank’s board of directors also added in the statement that it intends to reduce the level of short-term debt held by the central bank next year, but didn’t provide more specifics.
(Excerpt) Read more at endtimeheadlines.org ...
No big deal, it was flat last month.
Juan Peron, White Courtesy Phone.
BranDUHn’s response? “Hold my cone!”
Argentina: where every loan is a payday loan.
Once upon a time Argentina was one of the richest, most prosperous countries in the world. Then the Socialists took over.
Like Venezuela, France, Germany, England, the USA....
Then spawned the likes of Che Guevara.
Once upon a time Argentina was one of the richest, most prosperous countries in the world. Then the Socialists took over. ......................... That’s when Grampa left and came here. When I was a kid I had dreams of going there. #1 concern of Americans is Political Corruption, and it appears the #1 problem is running the country. True Liberty and Justice has to return to get us back on track.
Coming to America.
they just need an inflation reduction act to fix it... right???
The dollar rally isn’t helping them either. Basketcase either way.
At this point in history I have to blame the people of Argentina. They have repeatedly seen this same crisis before, and repeagedly put in office the same types of politicians that create, and recrate, and recreate this type of crisis.
When the money keeps rolling out you don’t keep books
You can tell you’ve done well by the happy, grateful looks
Accountants only slow things down, figures get in the way
Never been a lady loved as much as Eva Peron
That assumes they have honest elections.
Obviously if they would have installed a few hundred EV charging stations all would be fine...
Hot dang! Invest a hundred bucks down there and in no time at all you’ll be a millionaire! What could go wrong?
Quiz: What comes after hyperinflation?
1. Prosperity, peace and happiness for all.
2. Starvation, misery and chronic poverty (except for the ruling elite)
3. Government imposition of authoritarian, repressive measures (except for the ruling elite)
You have .3 milliseconds to answer.
Answer: If you replied “2” you’re partially right. If you replied “3” that’s also partially right. The answer is 2 and 3. And you can thank the current administration for that.
lol… perfect
I take it back then all the encouraging things I said about Argentina. Not a grown up nation but a banana republic it seems.
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