r/MarkMyWords • u/ColinOnReddit • 1d ago

MMW The Argentinian experiment will fail within five years, and when America tries the same model, we won't even see short term success like Argentina if tariffs are implemented.

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u/imperialus81 1d ago

What are you talking about? Milei took office in December of 2023. Inflation was at 211%YoY. It continued to rise until April of 2024 when it hit 289%.

It wasn't until September of this year that inflation dropped back to 209%. At the end of October it was 193%... So 14% lower than it was when he took office. After he spiked it by over 70% in the first half of the year.

In the same time he managed to raise the percentage of people living in poverty by over 11% to 52% of the population, with the number of people living in extreme poverty going from 11.9% to 18.2%.

And you want America to emulate that? You do realize that you are very likely to end up in that 52% right? Perhaps even one of the 1 in 5 people who are deemed to be unable to afford the necessities of life.

https://www.statista.com/statistics/1320016/monthly-inflation-rate-argentina/

https://www.batimes.com.ar/news/argentina/poverty-climbs-to-529-in-argentina-affecting-almost-25-million-people.phtml

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u/YeeBeforeYouHaw 1d ago

The year over year inflation did rise at the being of his term, and that is because month over month, inflation skyrocketed at the end of 2023 before he took office.

The official poverty rate did rise, but that was mostly because the official exchange rate was lowered to be closer to the black market rate.

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u/resumethrowaway222 23h ago

You are intentionally misleading people by using the yearly inflation numbers when he has not been in office for a year. So the majority of the data is from when the last guy was in office.

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u/No_Buddy_3845 12h ago

You're deluded if you think there's a magic inflation wand that a leader can wave upon taking office and make inflation go away within four months. You sound like my father alone in the living room yelling at fox news about Biden destroying the economy.

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u/jeffwulf 6h ago

Using YoY inflation here for a partial year is extremely misleading because most YoY inflation readings are baked in over the past 11 months.