Ah capitalism, the abstract art of economics.
“Lol, this is dumb.”
: “No bro, you just like…don’t GET IT man! Stupid rubes like you just can’t understand the nuanced genius! This is perfection incarnate! Without it, how will we rank everyone?”Capitalism speedrun
Updated 1:33 AM EDT, July 24, 2024
Does this qualify as “news”, considering that the word “new” is embedded in “news”?
If this post communicated information about a recent event, I would have been quite interested in it. Since it does not, I am disappointed.
This article is over a year old. Lately there have been reports that poverty rates were lower this year. Does anyone have some insights? Are Argentinians actually any better off than last year now? Or is Mileis administration fudging the statistics?
Argentina’s economy is fucked, Milei is actually in New York today to grovel at Trump’s feet for a handout.
Don’t know about fudging, but apparently about 40+% of the country works gig jobs now, and their income declined by 22%(!!!) percent in early 2025. Also their GINI hit an all-time high apparently, but the data cuts off from 2023, from the world bank data at least. Honestly, who the fuck knows, but considering they lost to the peronists recently, and Bessent wants to give them a bailout, the real situation must not be too fucking rosy.
I mean there’s an economic crisis happening right now, so not sure how poverty levels could possible be lower in these conditions https://www.msn.com/en-gb/news/world/panic-in-argentina-as-economy-on-brink-of-collapse-742m-meltdown/ar-AA1MZM44
Soon after entering office in 2023 on the heels of the country’s worst economic crisis in two decades, Mr Milei dissolved or defunded more than a dozen ministries as part of efforts to eliminate Argentina’s monumental deficits by cutting the size of the state. His economic reforms thrilled international investors but also depressed economic activity.
