Posts tagged economy
Posts tagged economy
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Some economists are even predicting recession before year’s end, saying recently imposed currency and trade restrictions, high inflation, price controls and capital flight are making it tougher to protect Argentina from the global slowdown.
Because: Any Argentine over the age of 11 already has suffered from a crisis that slashed their (or their family’s) savings. They don’t deserve to go through it all over again.
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Since 2007 Argentina’s government has published inflation figures that almost nobody believes. These show prices as having risen by between 5% and 11% a year. Independent economists, provincial statistical offices and surveys of inflation expectations have all put the rate at more than double the official number (see article). The government has often granted unions pay rises of that order.
Because: It’s about time something like this happened. I’m sure the financial arm of the Argentine government is in crisis mode right now, considering this is a country that messes with its McDonald’s menu prices with the goal of measuring up well against The Economist’s Big Mac Index. May this be the catalyst for some real change, because inflation is burning everyone in Argentina.
Here is another related article, also from The Economist and called The price of cooking the books.
Also, lettuce is apparently ridiculously expensive in Buenos Aires, says La Nación.
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The good times are an illusion, like a vacation at Disney World. And Argentina’s stay at Disney is about to end,” said Gerold, who predicted that the government will have to soon reduce or eliminate fuel subsidies.
Are good times in Argentina for real or an illusion?
Because: Another article about the economy in Argentina, yes, but this one is the most numbers-based an in-depth one I’ve found yet (and in layman’s terms, which I definitely need). What I didn’t know before reading this, though, is that sectors of the Argentine economy have been doing very well. But it seems there are still too many problematic contradictions.
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Think the U.S. economy feels shaky? Try doing business in Argentina, where corruption is the norm, regulations are absurd, inflation is rampant, and financial crises are a dime a dozen (11 cents next month).
Because: I find it fascinating this lengthy feature turned up in June’s issue of Inc. magazine, a U.S. publication focused on entrepreneurship and developing companies. It is the most thorough, insightful and well reported piece I have read to date on Argentina’s financial situation and its contemporary economic history.
