news Poverty rate rises to 57.4% in Argentina

[ninasayers]

(Translation of excerpts taken from this article): 

 

"Almost 6 out of 10 Argentinians are poor [...]. The number skyrocketed after President Javier Milei began his presidency: the rate went from 49.5% in December, to 57.4% in January, with over 3.5 million new poor people (data provided by UCA). These represent the worst numbers since the "corralito" crisis in 2002, far above those from the first semester of 2023 when the poverty rate was 40.1%. In total, there are about 27 million poor people in a country with a population of 46 million inhabitants."

 

"The reason for the current deterioration is simple: Income is growing at a much slower rate than that of inflation, and the breach expands exponentially. In 2023, prices went up by 211.4% and salaries went up by 152.7%. In January, the monthly inflation was 20.6%, and the year-on-year inflation was 254.2%, the highest in the world."

 

"The situation is especially difficult when it comes to the groceries. Food prices went up by 300% over the last 12 months [...]."

 

The article goes on to describe the current situation that millions of people face and the rise in destitution rates (up to 15% now). Milei himself has already said that it'll continue to get worse (!) but denies having any responsibility, blaming past governments for the current situation. 

 

 

[Clauss]

It will get better at the medium and long term

[Kasix]

So poverty rate went up 7.9% since he took power, but he was able to balance January’s budget and emerge with a surplus for the first time in decades?

 

he’s doing a great job and is putting the country on the right track then 

Edited February 19 by Kasix

[Comedor]

Time to visit Argentina for dirty cheap and help their economy a bit at the same time.

[Aramis]

Congrats to every Argentinian that voted for that abomination called Milei 

[Miracle Whip]

Thank you libertarianism!

[jqnetto]

7 minutes ago, Kasix said:

So poverty rate went up 7.9% since he took power, but he was able to balance January’s budget and emerge with a surplus for the first time in decades?

 

he’s doing a great job and is putting the country on the right track then 

[Joyride]

12 minutes ago, Kasix said:

So poverty rate went up 7.9% since he took power, but he was able to balance January’s budget and emerge with a surplus for the first time in decades?

 

he’s doing a great job and is putting the country on the right track then 

uhm... most of the people who benefited from all the subsidiaries cut during these initial months will now be in an even worse position. that's why some of the slurpus went down, he cut resources from everyone.

[lillavend3r]

Y'all i'm so mad stupid b¡tches really THOUGHT. But now everybody has to pay for dumbasses mistakes

[lillavend3r]

15 minutes ago, Comedor said:

Time to visit Argentina for dirty cheap and help their economy a bit at the same time.

Why don't you go to the beyoncé stealing writing credits thread. There's people starving literally b¡tch. People can't even afford to go to work read the mf room

[Domination]

For any massive systemic overhauls to prove successful, this would be expected, unfortunately. I’m highly skeptical of him being able to turn things around but this is one of those things where we won’t know for at least a year.

[Comedor]

15 minutes ago, lillavend3r said:

Why don't you go to the beyoncé stealing writing credits thread. There's people starving literally b¡tch. People can't even afford to go to work read the mf room

I apologize, I didn’t mean it that way.

 

And I have already posted in the Kleptonce thread.

[AvadaKedavra]

Wheres this anger for the kitchners? They are the reason why this mess started and argentina decayed so much  this guy is another piece in the mess

[WokeEqualist]

But I was told this nazi would make Argentina a superpower?

[Aethereal]

How can economy change drastically in such a small time, I don't get it?

[manuelalex9810]

That’s what they get for being racist and xenophobic towards Mexicans 

[bad guy]

1 hour ago, Domination said:

For any massive systemic overhauls to prove successful, this would be expected, unfortunately. I’m highly skeptical of him being able to turn things around but this is one of those things where we won’t know for at least a year.

This. People do not understand basic economics. The process of turning any economy around is slow, tedious, and results in periods of economic strife before anything gets better. If in 1-3 years from now the poverty rate continues to spike up then we can come to some sort of opinion about his policies. Much of this situation has to do with the years of poor economic policies from the previous administration.

[Karla Cabello]

thank you zionism! 

[gatito]

4 minutes ago, bad guy said:

This. People do not understand basic economics. The process of turning any economy around is slow, tedious, and results in periods of economic strife before anything gets better. If in 1-3 years from now the poverty rate continues to spike up then we can come to some sort of opinion about his policies. Much of this situation has to do with the years of poor economic policies from the previous administration.

yeah you should go and tell the people starving and unable to afford housing or basic needs to wait 3 years  what an idiotic thing to say

[Archetype]

1 hour ago, Domination said:

For any massive systemic overhauls to prove successful, this would be expected, unfortunately. I’m highly skeptical of him being able to turn things around but this is one of those things where we won’t know for at least a year.

Exactly, we have no idea if his economic reforms will help.  All we know it that this isn’t any worse than prior administrations who let it get to this point.

 

56 minutes ago, AvadaKedavra said:

Wheres this anger for the kitchners? They are the reason why this mess started and argentina decayed so much  this guy is another piece in the mess

The Kirchners are evil or just really delusional.  Milei is wild, but I’d rather have someone who is trying to change the extremely bad status quo than what is basically a dynasty of one corrupt family and their followers.

[lillavend3r]

23 minutes ago, bad guy said:

This. People do not understand basic economics. The process of turning any economy around is slow, tedious, and results in periods of economic strife before anything gets better. If in 1-3 years from now the poverty rate continues to spike up then we can come to some sort of opinion about his policies. Much of this situation has to do with the years of poor economic policies from the previous administration.

People are literally talking from experience. Same thing happened during the 70s and 80s while the last the two military dictatorships happened. And it led to poverty and unemployment not to 1st world status, but it's easy to speak when you don't know nothing about the  country in question

 

14 minutes ago, Archetype said:

The Kirchners are evil or just really delusional.  Milei is wild, but I’d rather have someone who is trying to change the extremely bad status quo than what is basically a dynasty of one corrupt family and their followers.

Pick up a history book babe Argentina didn't start existing in 2003. Kirchnerismo was corrupt like any other politic party but during their terms in office poverty went DOWN. During la dictatura which economic ministers Milei takes inspiration from local industry shut down, private companies only got richer and the middle to working class got their salaries frozen for MONTHS. We're headed down that road now you tell me how is that mf trying to "change the status quo" when he's taking from who don't have anything to give?? So either you're privileged or just delusional working class

Edited February 19 by lillavend3r

[bad guy]

11 minutes ago, gatito said:

yeah you should go and tell the people starving and unable to afford housing or basic needs to wait 3 years  what an idiotic thing to say

What's idiotic is to expect a failing economic system to change within less than a year. The people voted for a systemic change in their economy and with that comes the reality that it will take at the very least a year to see any type of positive change. Whether his policies will deliver anything positive is yet to be determined since I don't think any country has had economic policies under such libertarianism like Milei so this whole thing is sort of an experiment anyway. It's not idiotic to state facts about how economies work, but it definitely is idiotic to think a snap of a finger is going to change the utter disaster of the Argentinian economy.  Argentinians, many of whom already unable to afford housing, voted for this so to patronize them as if these voters did not know that change takes time is an interesting choice.

 

 

1 minute ago, lillavend3r said:

People are literally talking from experience. Same thing happened during the 70s and 80s while the last the two military dictatorships happened. And it led to poverty and unemployment not to 1st world status, but it's easy to speak when you don't know nothing about the  country in question

I'm not a libertarian so I personally don't think his policies will be that effective, and his slashing of so many things so quickly is naturally going to make things worse before things get better (if they do), but the point is this poverty rate rise is not on only Milei. It's a direct outcome of the already terrible economic policies of governments past. He's basically taking a sledgehammer to the state which is bound to have consequences: short term being economic chaos and long term being...who knows. Realistically it's going to take a long time for Argentina to get out of the hyper stagflation but time will tell if Milei will advance or further hurt those efforts.

 

[lillavend3r]

5 minutes ago, bad guy said:

Argentinians, many of whom already unable to afford housing, voted for this so to patronize them as if these voters did not know that change takes time is an interesting choice.

Unfortunately most of them thought it was going to be less tragic than what it is that's why most of them are regretful of their choice. Again speaking without context is really just speaking to speak. I see it EVERYDAY people are sad, mad, and paranoid of what's to come. 

 

7 minutes ago, bad guy said:

What's idiotic is to expect a failing economic system to change within less than a year. The people voted for a systemic change in their economy and with that comes the reality that it will take at the very least a year to see any type of positive change. Whether his policies will deliver anything positive is yet to be determined since I don't think any country has had economic policies under such libertarianism like Milei so this whole thing is sort of an experiment anyway. It's not idiotic to state facts about how economies work, but it definitely is idiotic to think a snap of a finger is going to change the utter disaster of the Argentinian economy.  Argentinians, many of whom already unable to afford housing, voted for this so to patronize them as if these voters did not know that change takes time is an interesting choice.

 

 

I'm not a libertarian so I personally don't think his policies will be that effective, and his slashing of so many things so quickly is naturally going to make things worse before things get better (if they do), but the point is this poverty rate rise is not on only Milei. It's a direct outcome of the already terrible economic policies of governments past. He's basically taking a sledgehammer to the state which is bound to have consequences: short term being economic chaos and long term being...who knows. Realistically it's going to take a long time for Argentina to get out of the hyper stagflation but time will tell if Milei will advance or further hurt those efforts.

 

And i'm telling you this has happened before. Most of the stuff he wants to do was already done you can look it up. And it FAILED so it's not some made up delusion coming from people that didn't vote for him and that's just on his economic plans. Trying to shut down the CONGRESS? During the 40th anniversary of democracy's return to the country? I'm sorry but he's a dictador who supports what happened here 46 years ago

[Archetype]

1 hour ago, lillavend3r said:

Pick up a history book babe Argentina didn't start existing in 2003. Kirchnerismo was corrupt like any other politic party but during their terms in office poverty went DOWN. During la dictatura which economic ministers Milei takes inspiration from local industry shut down, private companies only got richer and the middle to working class got their salaries frozen for MONTHS. We're headed down that road now you tell me how is that mf trying to "change the status quo" when he's taking from who don't have anything to give?? So either you're privileged or just delusional working class

Kirchnerism is not corrupt "like any other political party", Kirnerism is an objective failure of an economic system that the Argentinian political class and some regular Argentinians seem obsessed with despite decades of it doing little to nothing for the country.  It is beyond "corrupt".  There are hundreds, if not thousands of analyses of Kirchnerism from all ends of the political spectrum, always coming to the same conclusion that it does NOT work for anyone except the ruling elite.  The country voted to try something different, I don't blame those people.  I am not a libertarian and I do think he's very harsh with the speed of these changes, but the truth is that Argentina was on the fast track to economic ruin before his term.  

[Communion]

Only people who hate poor people support anarcho-capitalist freaks like Milei and Bukele.