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 ...
But the socialists will tell you they are not socialist. I am yet to hear the socialists tell us who is socialist though. They define it so narrowly that there has never been a socialist country in the history of the world.
https://en.wikipedia.org/wiki/History_of_the_Jews_in_Argentina
Today, approximately 180,500 Jews live in Argentina, down from 310,000 in the early 1960s. (And is being reduced yearly by an ethnicity that knows it is no longer welcome.) Argentina’s Jewish population is the largest in Latin America, and the third-largest in the Americas (after that of the United States and Canada).
Only government can create inflation.
Without government-created inflation, meat prices might well rise because of low supply, but other prices would have to fall.
ARGENTINA has already cleaned out all private pension accounts/saving accounts/,money market accounts-——
2 TIMES in the past.
People went to bed Fri night with $$$ in their accounts. MONDAY MORNING—accounts were ZERO
OBAMA & PELOSI threatened to do the same in the USA-—”TO PAY THE NATIONAL DEBT”.
Now— it appears Argentina is about to do it AGAIN.
Bariloche is on my bucket list, as well as Patagonia.
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