finance

Decline is a choice. That’s true in Argentina as well as in America!

“Apparently it took Milei just 9 and a half weeks to balance a budget that was projected at 5% of GDP under the previous government. In US terms, he turned a 1.2 trillion dollar annual deficit into a 400 billion surplus. In 9 and a half weeks.”

🇧🇷🇺🇸-  Book: Making Things Think: https://holloway.com/mtt. Investor in Wander, Carry, Footprint, Merkle Manufactory (Farcaster), Dynamic, Paragraph.

You damn sure decline is a choice. For example Milei decided to decline everyone's wages, pensions and savings through hyperinflation and austerity.

It's not a question of whether it can be done, it's a question of how (in)human you have to be to decide to do it anyways despite the suffering it causes.

Argentina was in hyperinflation before Milei took charge. Generally inflation is a result of money printing to fund excessive government spending

And yet it was with him that real wages dropped to a record bottom that had only been seen at the worst social crisis the country ever lived.

Source:

Kiwi Software Engineer. Interests in Value Investing, Decentralised Money, Building web apps, Robotics Engineering.

There's no info on what the y axis on that graph represents or even how you calculate the "real" value of something over time in Argentina. Are they discounting back to 2015 pesos using official inflation stats or are they converting wages to dollars?

And yet it was with him that real wages dropped to a record bottom that had only been seen at the worst social crisis the country ever lived.

Source: https://mateconomia.com.ar/