BDKJMU wrote: ↑Thu Sep 03, 2026 10:53 am
kalm wrote: ↑Tue Sep 01, 2026 8:15 pm
Your daily reminder of how everything Trump and Elon touch turns to shit.
Your daily reminder of how you love to put your dumbassery on full display.
https://data.worldbank.org/indicator/NY ... cations=AR
…By 2026, the Milei shock therapy is delivering results unprecedented in Argentina's modern history. Annual inflation collapsed from 211% in December 2023 to approximately 33% — the fastest disinflation in any major economy in recent decades. GDP growth rebounded to 4.4% in 2025 and the IMF projects 3.5% in 2026. The poverty rate fell to 28.2%, a six-year low. Fitch upgraded Argentina's sovereign credit rating from CCC+ to B-, and country risk (EMBI) fell from ~2,000 basis points to ~570. A new $20 billion IMF Extended Fund Facility was signed in April 2026. Vaca Muerta oil and gas set production records at 861,000 bpd, generating a $7.8 billion energy trade surplus in 2025 (with $14 billion+ expected in 2026). The peso regime shifted from a rigid crawling peg to a wider band….
https://statisticsoftheworld.com/argent ... e_vignette
First, IMF and World Bank are not the most reliable source of economic truths. At least for the working class. And Argentina has been down this road before or recently but the 1990’s and it was devastating.
But hey, I can do quick google searches too.
(Stats are in the link).
Everyone excited about an Argentina economic miracle is basing it on all sorts of government statistics except the most important statistics: money supply measures and public debt growth.
In Milei’s first six months in office, public debt grew from $370 billion to $442 billion, a staggering increase of 19.4%. Borrowing $72 billion in 6 months can make any economic statistics look good, but the problem of course is in the long-term consequences. It is possible to make short-term growth, poverty, unemployment, or inflation numbers look good by printing and borrowing money, thus transferring the cost of a short-term glow up to the future, where they are paid with exorbitant interest. Those of us who thought things could not possibly get worse might need to reconsider.
This data is astonishing and flies in the face of the hype. But unless someone can show me why this data is wrong, then, for all of his libertarian and free market rhetoric, Milei is a vintage Latin American populist inflationist, buying short-term popularity with long-term inflation and debt, essentially no different from every Argentine leader since Peron. All that his free market rhetoric seems to have achieved is to trick poor Argentines into trusting their broken central bank again instead of trying to find a working alternative like Bitcoin. His anti-socialist rhetoric is nice to listen to, and his hysterical antics, relentless emotional crying, and triumphant theatrics may be amusing to some, but fate usually serves its cruelest dishes to those who celebrate before victory.
