Any sightings of Maduro fanboys with offers of ‘help’?
These people already were living in poverty if you take into acount the discrepancy of the official government value versus the actual value of the peso. Milei is not even doing anything radical, he is simply making the government, particularly the central bank hold itself accountable.
Is not only poverty, according to the same study of the UCA the indigence (not earning enough money to survive) doubled from 2023 to 2024, 1 in every 5 Argentinians can’t survive with the money they earn
I listened to a podcast interview with this guy not long ago. He’s a moron. Thinks everything is a Marxist plot
Poverty rate here is measured on income, which is a misleading measure since the massive inflation from reckless government spending devalued those earnings the day after payday. Those living “above” poverty on paper still lived in poverty in terms of quality of life.
More than half of jobs in Argentina were government jobs before Milei, that is an absurd percentage of the workforce. Not to mention many of those jobs were unproductive patronage jobs that added nothing of value to the economy.
There has been some pain felt, particularly by corrupt bureaucrats and their cronies who have lost their free money streams, but that is the cost of reform.
Argentina is undoubtedly on a better path with Milei.
Guys, I’m beginning to think electing far right guys who’s policies are “give all the money and wealth to the rich” isn’t a good idea.
There will just be another military coup in a few months and the cycle will repeat
Shockingly, fixing problems that were allowed to fester for decades may involve some hardships. Like the temporary poverty rate increase by 10%.
Which still seems not too terrible for a “shock therapy”, especially when you take into account that with the rampant inflation under the previous government, many poor people were probably uncounted.
There is a reason why “nobody in history” (according to him) has made such large cuts all at once, because it’s a terrible idea.
Expect his fucking army of paid troll to descend upon this article and down vote every single comment like this and fill the post with responses lying about everything. He’s in the same far-right international network pioneered by Steve Brannon, and using the same techniques with massive number of trolls and disinformation in social media.
Let him cook, we don’t actually know if it’ll work yet, we’re still seeing the effects of the previous 5 years manifested, once the changes he makes actually start to impact the status quo we’ll see if it improves things or worsens things, very similar to the Labour situation in the UK.
This was predicted, and he warned everybody in advance. Whether his policies are beneficial or detrminental in the long run remains to be seen.
The *math* works out, but the problem with austrian economists like Milei is that their faith in *the math* often hides a lot of variables they forgot to account for.
Could this be due to previous inflation causing more people to fall under what’s officially listed as poverty? I have to imagine the study accounted for that?
Large structural changes almost always cause a ton of damage in the short term as things can’t compensate nearly fast enough. Will it help in the long run? Will see. Things were certainly bad and untenable, but for now Milei made it worse. A milder path corruption free might have been able to eventually break out.
Doesn’t matter right now – in order to save the economy inflation needs to be under control that meant less government spending ass well as strickt monetary policies. He was voted in by a huge majority and this was always the plan – it hurts the people financially to get inflation under control not in the ind it should be worth it by reastablishing the the economy at a level where the world will be able to invest and Argentinians well be able to borrow money without paying 25% interest rate.
The guy appointed himself as a chemotherapy incarnate. I’m sure he’s proud of the side effects.
Going full stop libertarian from a corrupt social protectionist state in such short notice is insane. At least it will make for decades of socio-economic studies, but damn what a trip. Good luck Argentinians.
Candidate promises to fuck shit up.
All experts agree it would be terrible and would in fact truly fucks shit up.
Populace thinks this sounds great and elects him.
Proceeds to fuck shit up exactly as predicted.
My god people are fucking stupid.
What a surprise. Didn’t see that coming. It’s like a magnet… They throw and same people always get hit…
I wonder what the crime rate is now when you have 53% not being able to live off the money they make.
A South American country with high poverty rate. How original….
Everyone in the government there should be forced to live exactly as the poorest person they are imposing this on.
Things would change in less than an hour.
Oof. The West does NOT like this man because he’s the type to stand up to them. He has to be replaced with a puppet soon, and that starts with propaganda. Sometimes, propaganda is just a matter of focusing on the negative and there’s always negative to focus on. Sometimes it’s a matter of leaving out part of the story, like in this case.
Imagine being the leader of a small country and trying to stand up to the United States or the British Empire and thinking that you might get out alive.
The average Argentinian didn’t use the official exchange rate, and inflation ate away their currency, so lowering inflation would naturally lower their salaries on paper and thus raise the poverty rate on paper, but they were massively poor to begin with. Remember that these effects were caused by the former governments who kicked down the can. Inflation is down massively. Give it some time to see what happens, it’s been only 6 months.
Cool, now show us the percentages of the US living in poverty. Seeing as how wages stopped keeping pace with inflation about 40 years ago, I’d imagine we’re at a relatively high percentage as well.
My favorite quote on Milei is “We know Milei is going to be a disaster, but at least he is going to be a new disaster.”
26 comments
Any sightings of Maduro fanboys with offers of ‘help’?
These people already were living in poverty if you take into acount the discrepancy of the official government value versus the actual value of the peso. Milei is not even doing anything radical, he is simply making the government, particularly the central bank hold itself accountable.
[Spikes from… 57% to 53%?](https://www.batimes.com.ar/news/economy/uca-poverty-in-argentina-hit-20-year-high-of-574-in-january.phtml)
Is not only poverty, according to the same study of the UCA the indigence (not earning enough money to survive) doubled from 2023 to 2024, 1 in every 5 Argentinians can’t survive with the money they earn
All my strength for our brothers down there
reading friendly version [https://www.pular.site/?simplify=https%3A%2F%2Fapnews.com%2Farticle%2Fargentina-poverty-milei-economy-crisis-f766deb9302aa4ddde1bb9ae26aaf7af](https://www.pular.site/?simplify=https%3A%2F%2Fapnews.com%2Farticle%2Fargentina-poverty-milei-economy-crisis-f766deb9302aa4ddde1bb9ae26aaf7af)
I listened to a podcast interview with this guy not long ago. He’s a moron. Thinks everything is a Marxist plot
Poverty rate here is measured on income, which is a misleading measure since the massive inflation from reckless government spending devalued those earnings the day after payday. Those living “above” poverty on paper still lived in poverty in terms of quality of life.
More than half of jobs in Argentina were government jobs before Milei, that is an absurd percentage of the workforce. Not to mention many of those jobs were unproductive patronage jobs that added nothing of value to the economy.
There has been some pain felt, particularly by corrupt bureaucrats and their cronies who have lost their free money streams, but that is the cost of reform.
Argentina is undoubtedly on a better path with Milei.
Guys, I’m beginning to think electing far right guys who’s policies are “give all the money and wealth to the rich” isn’t a good idea.
There will just be another military coup in a few months and the cycle will repeat
Shockingly, fixing problems that were allowed to fester for decades may involve some hardships. Like the temporary poverty rate increase by 10%.
Which still seems not too terrible for a “shock therapy”, especially when you take into account that with the rampant inflation under the previous government, many poor people were probably uncounted.
He is constantly bragging by calling his budget cuts “[the largest in the history of humankind.](https://www.batimes.com.ar/news/economy/javier-milei-sparks-wild-rally-that-makes-peso-number-one-in-the-world.phtml)”, so there is no surprise about the results.
There is a reason why “nobody in history” (according to him) has made such large cuts all at once, because it’s a terrible idea.
Expect his fucking army of paid troll to descend upon this article and down vote every single comment like this and fill the post with responses lying about everything. He’s in the same far-right international network pioneered by Steve Brannon, and using the same techniques with massive number of trolls and disinformation in social media.
Let him cook, we don’t actually know if it’ll work yet, we’re still seeing the effects of the previous 5 years manifested, once the changes he makes actually start to impact the status quo we’ll see if it improves things or worsens things, very similar to the Labour situation in the UK.
This was predicted, and he warned everybody in advance. Whether his policies are beneficial or detrminental in the long run remains to be seen.
The *math* works out, but the problem with austrian economists like Milei is that their faith in *the math* often hides a lot of variables they forgot to account for.
Could this be due to previous inflation causing more people to fall under what’s officially listed as poverty? I have to imagine the study accounted for that?
Large structural changes almost always cause a ton of damage in the short term as things can’t compensate nearly fast enough. Will it help in the long run? Will see. Things were certainly bad and untenable, but for now Milei made it worse. A milder path corruption free might have been able to eventually break out.
Doesn’t matter right now – in order to save the economy inflation needs to be under control that meant less government spending ass well as strickt monetary policies. He was voted in by a huge majority and this was always the plan – it hurts the people financially to get inflation under control not in the ind it should be worth it by reastablishing the the economy at a level where the world will be able to invest and Argentinians well be able to borrow money without paying 25% interest rate.
The guy appointed himself as a chemotherapy incarnate. I’m sure he’s proud of the side effects.
Going full stop libertarian from a corrupt social protectionist state in such short notice is insane. At least it will make for decades of socio-economic studies, but damn what a trip. Good luck Argentinians.
Candidate promises to fuck shit up.
All experts agree it would be terrible and would in fact truly fucks shit up.
Populace thinks this sounds great and elects him.
Proceeds to fuck shit up exactly as predicted.
My god people are fucking stupid.
What a surprise. Didn’t see that coming. It’s like a magnet… They throw and same people always get hit…
I wonder what the crime rate is now when you have 53% not being able to live off the money they make.
A South American country with high poverty rate. How original….
Everyone in the government there should be forced to live exactly as the poorest person they are imposing this on.
Things would change in less than an hour.
Oof. The West does NOT like this man because he’s the type to stand up to them. He has to be replaced with a puppet soon, and that starts with propaganda. Sometimes, propaganda is just a matter of focusing on the negative and there’s always negative to focus on. Sometimes it’s a matter of leaving out part of the story, like in this case.
Imagine being the leader of a small country and trying to stand up to the United States or the British Empire and thinking that you might get out alive.
The average Argentinian didn’t use the official exchange rate, and inflation ate away their currency, so lowering inflation would naturally lower their salaries on paper and thus raise the poverty rate on paper, but they were massively poor to begin with. Remember that these effects were caused by the former governments who kicked down the can. Inflation is down massively. Give it some time to see what happens, it’s been only 6 months.
Cool, now show us the percentages of the US living in poverty. Seeing as how wages stopped keeping pace with inflation about 40 years ago, I’d imagine we’re at a relatively high percentage as well.
My favorite quote on Milei is “We know Milei is going to be a disaster, but at least he is going to be a new disaster.”