Posted on 03/15/2023 4:32:12 AM PDT by Oldeconomybuyer
Argentina's inflation rate has soared past 100% for the first time since the end of hyperinflation in the early 90s.
Inflation hit 102.5% in February, the country's statistics agency said, meaning the price of many consumer goods has more than doubled since 2022.
Argentina has been in economic difficulty for years, and most of the population now live in poverty.
Its government has being trying to stem price rises by capping the prices of food and other products.
But the food and drink sectors saw the most dramatic increase recent, with prices growing by 9.8% in February compared to January.
Argentinian media said that this increase could partly be due to a sharp hike in the price of meat, which rose by almost 20% in the space of a month. Adverse weather conditions, a prolonged heatwave and a drought seriously impacted livestock and crops, said local news outlet Ambito.
(Excerpt) Read more at bbc.com ...
Don’t cry for them.
Transitory...
Socialism is so great!
What I admired most about the Argentinians was their strong family bonds. For example, an Argentinian might take a day off to attend the birthday party of their young nephew's best friend.
What the Argentinians did not have was a sense of economic conservatism, and I'm afraid that may be their (and our) undoing.
That's not inflation.
In Berlin, during the time of the Weimar Republic, a loaf of bread that sold for 160 Marks in late 1922 sold for 200,000,000,000 Marks by late 1923.
That's inflation.
With the US Dollar now being ditched around the world (thanks to our Suicide Sanctions on Russia, starting with SWIFT), we’ll soon be exposed to the same pressures as other countries, like Argentina, when we try to finance our debt and deficits.
I expect BIG CHANGES here in response, including government seizure of private pension plans (they’ll be used to re-finance Social Security and Medicare), and a new Value-Added Tax (national sales tax).
...and no, they WILL get passed as the alternative will be far worse, and our government will make sure we first get a taste of that alternative.
100 years ago Argentina was one of the richest countries on the planet.
If Heinlein wrote Starship Troopers today, Johnny Rico would be called Johnny Pobre.
As I recall, Macri was turning the economy around but got voted out of office a few years ago.
Balderdascious drivel
And then...Socialism.
the globohomo one-worlders will soon sink their fangs into argentina if they haven’t already
“more of your bogus nonsense...the US dollar still remains the most-trusted currency”
I was talking to Americans, over here we’re not CENSORED.
“Balderdascious drivel”
https://www.barrons.com/articles/u-s-dollar-worlds-reserve-currency-may-not-last-aa9f943
Now with BRICS having a larger share of world GNP than the G7, it’s only a matter of time until the plug is finally pulled.
Joe Biden is the Alberto Fernandez of America. Jill is Cristina Kirchner.
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