How could he have caused Argentina to become plunged into recession? I may be wrong but Argentina was in recession for quite a while before he won. Argentina is experiencing the consequences of living beyond it means for way too long. Sadly the recovery will be very painful.
Yeah, you are wrong, although Argentina had a high inflation, industrial activity and GDP were going up. Recession started in april this year, after 6 months of activity drop The main problem with Argentina is they are voting for president the most disasterous guys, Milei has a sychiatric disorder and you can notice he is a horrible economist, the guy before used to beat his wife, before him was Macri, that took debts for 100 years!!! It's been a while since the elected president is worse than the one before, so there will not be any recovery until a decent guy comes
@@HélpitiMartinez -----Of course, and this happens simply due to the basic law in Capitalist Economy: The law of Supply and Demand. If there is no consumption, therefore the capitalist stop investing. I stop here because this brings up all the sequels that come with this part of this moment wherein it happens. The GDP is only a measure of the total production and consumption of a country.
Only a problem when your goal is to exploit people for profit, but shockingly not every necessary job or service can be profitable. A private business would rather make millions selling a treatment, the government will spend millions researching a CURE.
The Very WEALTHY Argentinians are NOT Suffering. They live in Miami, Madrid, Paris, Rome, Milan and carry Italian, US, UK, French, Spanish Passports along with their Argentine Passport JUST IN CASE
Milei has Italian passport himself. 😂 So does Bolsonaro. All these nationalist buffoons usually have dual citizenship. Trump is the only exception. Even Ted Cruz has Canadian passport. 😂
Of course the very wealthy do not suffer as much as the man in the street. How could it possibly be different ? I suppose you could take all their money and give it to the poor ?
Probably so, but it will hurt rural/smaller communites more. If it wasn't for the military budget it would happen alot quicker. City like Ridgecrest would be a wasteland without China Lake. Others the biggest employers usually are local govt, hospital and Walmart. San Francisco would survive better due to Silicon Valley, tourism, resturants and it's the hub for sailboat racing among other things. I'll be most likely gone in about 5 years.
I'm hoping, federal government spending is at record levels of the GDP as is federal debt, its unsustainable and what we need is a Milei style dismantling of a big part of government. Do we really need to spend $4B a launch on an archaic rocket built out of 50 year old Shuttle parts by congressional demand, when commercial rocket launches are under $100M?
How can Poland and Argentina even be compared? It’s generally illogical and meaningless for many reasons. Geographically, Poland is in a different position, with the advantage of trading with nearby countries for the export of vegetables and fruits. Additionally, Poland has been, and continues to be, backed by the European Union and the US against Russia, stimulating its economy where possible because Polish soldiers might be needed in the future. Many Polish people worked in Europe and sent money back home, helping the country, and generally, Poles are more hardworking than Argentinians, who have a "siesta" mentality. Milei is selling the country right in front of everyone to wealthy corporations, just like it happened globally when a clown was put in power. Read the news about who he’s handing over state assets to now, and you’ll understand everything.
@@mariusfacktor3597those poor elderly women should have thought about getting a good husband and raising kids to support them back in the future. If you want to support them do it yourself. Robbing people of their money should never be ok no matter the 'good deed' you come up with.
You would think if you just watched this report that NOTHING good is coming from the current government. Inflation has been lowered by over 100% LOWER than last year. Rents are coming down tremendously. You may not like Melei's style, but there is no other way to get Argentina from turning into a third world country. I like how the narrator casually throw's in at the end "although inflation and the deficit are falling" 99% of content of this report is totally one sided. Boo France 24.
He did what was necessary. I lived there for 7 years to know that government spending was out of control. Fiscal deficit had to be corrected, businesses and industries consolidated. Argentina can now start remaking itself, the process is going to be slow and painful, but the debt spiral has got to end somehow, nobody is coming to the rescue, and the Argentine people are collectively responsible.
Leave it to mass media to conflate issues and say nonsense. You don't cause a recession by not wasting money on government nonsense. It means the people and nation has more effective wealth and resources , without tens of thousands of parasites stealing from the public. And if you subsidize utility bills, people waste water and electricity.
There's a middle ground between a bloated public sector and anarcho-capitalism, which is making the situation infinitely worse as people can't even afford bare necessities to contribute economically. People not being able to get to work because the train tickets are 700% more expensive isn't good for the economy, obviously. There's a reason you'll find very few respectable economists who agree with Milei's radical views.
@@dannnsss8034 Responsible in the sense that their woes are the product of their neglected responsibilities, which could still improve if they only believed it and did what it took to remake themselves. Their ailing economy is an extension of themselves, rather than a consequence of power in the wrong hands. But they aren’t aware of that, at least, not the vast majority.
I am Argentine, and this has been happening for more than 30 years, which is the first time that we have a downward inflation, food almost does not increase, taxes are being lowered so we have more and more production, no We have a shortage of products, we just have to work hard to get through this recession, but we are on the right track
@@Cordycep1 Germany is starting to be in a very bad position themselves. Their Germans have been blamed for many things but their money belongs to them
Watching this from Argentina just hits different. There was no inflation, no people selling stuff on the street, no homeless people a year ago? Seriously? Everything just started out of nowhere in the last 10 months?
@@anastasiafalcon4637 Reporters are all Keynesians anyway, and they WANT Argentina to fail, so it can go back to being supported entirely by government spending.
That's exactly how inflation works actually, if you print money the good effects come first and the bad ones later, but if you stop printing the bad effects come first and the good ones later.
Argentina is getting the same treatment as URSS once had. Western finance will ruin it and then grab all the assets in exchange of the green toilet paper.
@@paxundpeace9970 I just read in a Reuters article that it is projected that by the end of 2025 annual inflation could be down to 27%. If he can do that then he stands a good chance of being forgiven the pain.
They have built their entire economy around having a lot of government jobs that do not conteibute to GDP. They needed to do the hard thing and scale back in order to correct the root cause of the inflation they have been plagued with for years. This does not mean it will be easy, and unfortunately many people will struggle as they find a new placement in the economy. Every additional person doing work that contributes to GDP will add to the wealth of their nation, and in a few years things will begin to look much better.
The report indicate job loses businesses closing students no longer going to school people selling old clothes doesn't look like things are going to get better for majority of the people. Private businesses probably foreign will take over the hospitals , electricity transport education water supply etc. The cost will be unaffordable to the ordinary citizens a few capitalist billionaires will emerge statistics Will paint a rosey picture workers will be sucked dry on minimum wage while majority of the millions that will be left becames invisible as American subject the president will be untouchable. That's what I think will happen in Argentina.
The first guy chose sociology and he's surprised to not find a job in this field. He's more useful as a Uber Driver. The other people in this video were already broke before Milei came into power. The strong inflation of the first months of 2024 was the result of previous policies. Milei managed to slow down inflation and reduce the fiscal deficit.
There were already more than 40% poor prople in Argentina before Milei took over the government. He is giving Argentina the medicine needed to solve the problems caused by 20 years of the extremely irresponsable K government.
@@xxxxescorpioxxxxAnd what part of Argentina are you from? Because poverty was at around 40% last year and this year is almost coming to an end and its risen by 50%??????? 🤔
When a government maintains demand via the public sector with state debt it is just kicking the problem down the road for future generations. Argentina is taking its economic medicine.
Thats not really correct. Wealth is a consequence of import/export nationally. Why do you think that a public company magically does not make a profits while private companies magically do? you free marketeers can never explain basic economic observations because you're stuck in ideology mode.
This is something we all are in for, and deserve. In almost every nation, the public sector is too large, and public spending too extravagant. Argentina was one of the worst in this respect. Hence the pain. The worse we allow it to go in our countries, the more painful the remedy is going to be.
Slowly cutting back is the answer not immediately like what happened here. The economy will not recover but the people voted for it. Just like here in the US you reap what you sow.
I doubt that Spain or France will cut the social spending in medicine for the elder, the benefits for disabled people and cuts in children's wellfare, besides anihilating anything related to violence against children and women and to minorites like Milei did, Europe still have to behave regarding to social security.
Miley trying to clean up the mess of the so called "socialists"... same happened in Peru, Fujimori did the same and saved the peruvian economy...Miley is intelligent, blessing to Argentina!
Wish someone like that would be in my country goverment servants don't do any job properly and get salary and pension this socialism is just a gimmick to full politicians pockets through beaurctatic system
Man study what is Austrian libertarian philosophy is. Basically they are deniers of social laws , for them they don't matter. Even don't exactly deny their existence. The main postulate is personal freedoms , and if it will be given then everything magically will turn out just great. West hated Marxist philosophy stand, that there are natural and sociological patterns that should be understood, and if so better more equal further might be created. I don't agree with Marx ideology . But im saying that libertarian postulate that sociological and natural laws are not important ,man that sounds just bonkers ! So libertarian / Miley approach is even worse than Marxist to me. Im not aligning with any , i just remember what studied in uni and trying to think critically .
I am sure that electricians, mechanics, doctors, etc, do not have issues.. Also subsidizing does not work in the long run.. it is tough.. but it will surely get better.
THE THRUTH is: many are used to being supported by the government and suddenly: you see the real cost of things and that you have to earn what you spent. Argentina has been lied to the right for decades. This direction will take them eventually to TRUE SELF-Sufficiency.
So far it appears to only have increased the poverty rate to well over 50%, and made it impossible for many to support a family no matter how hard they work. Argentina is heading for another default, and another exodus of the young, the educated and the entrepreneurial.
Not really since two months the economy growths again and Monthly iflation is down from 50 percent then milei took office to about 3-4 percent per month.
@@JanMiddeke-uu4or Annual inflation remains over 200%, the highest in the world. That's thanks to the huge increase in prices Milei caused at the start of his tenure. And that hides higher inflation for things like food. Incidentally, inflation always slows down naturally, because high prices reduce demand. When people start starving in the street, will we consider the resulting lower food and house prices a success story?
Inflation is caused by central bank money printing which they needed too finance their goverment deficit of 14 percent of the bip if you count the central bank too. Your keynesianic models are stupid.
You're telling me these people's jobs were so useless, they can't find a single employer who to pay them, and we're supposed to feel bad for them? Thank goodness they got laid off and stopped from collecting a check for not doing anything.
the main cut was in the construction sector, the infraestucture plans for roads, gas supply, construction of hospitals, universities and trains, the postal service, the salaries of hospital personel and public schools, not public employees that sit in offices, there's a misconception on what kind of cuts hes doing and what it means in a few years when all the insraestructure with no maintenance, drinking water or usable roads begin to collapse.
Blame the last governments who were irresponsible and corrupt. Milei is doing the homework to fix a broken economy. Argentina was close to become another Venezuela, but the people decided to give him a chance and the results are already showing up. I would like to have another Milei in the USA and Brazil.
Eh so se mudar para os EUA, fio. Va com Deus e cuidado para a porta do aviao nao bater no teu traseiro. Va com a consciencia em paz, porque a gente nao vai sofrer com tua falta. PS: You know what? I blame the president before the last one. I blame Macri. He didn't fix anything. By the way, several people from Macri's government are working for Milei. Macri even supported him during the campaign. Fair game, isn't it?
The inevitable conclusion of unnecessarily large unproductive government. Don't let it get to that point to begin with. Small government, large citizens, robust private sector economy.
This was a good vid. Most of the news reports I see about Argentina just talk about Milei lowering monthly inflation without bothering to mention he increased the poverty rate from about 40% to over 50%. During his campaign, Milei promised radical reforms, but it was only after he won that he bothered to mention that ppl's everyday lives would become much harder for an extended period of time. I wonder if his voters would vote the same way if they knew this would be the result.
Are you serious? His campaign slogan was to eliminate inflation and reduce public spending. Was it necessary to explicitly state it? Inflation creates the illusion of wealth while simultaneously fostering the development of more profound and persistent issues. What he did was bring transparency to a deadly economic reality.
Perspective is what most of these alarmist reports lack. I've lived in Argentina for 20 years and in the last decade it has become totally out of control. Inflation in December 2023 when Milei took power was around 25-30% per month - no one really knows the exact figure. Public employees, including those who don't even turn up for work made up a huge percentage of public spending. Subsidies on power and travel were ridiculously high - why should the state pay for your electricity? All these Peronist populist policies were simply designed to catch votes and keep them in power ad infinitum and to say that Argentina has been plunged into recession is laughable. It's been like this for years and survival is the name of the game. At the very least, Milei is tackling this serious basket case economy head on. The medicine is hard, but there is no alternative.
These reporters never reported on the depressing state of the Argentinian economy… It reflected their own ideological preferences and they chose to not report on it. They don’t truly care for these people’s hardships or they would’ve reported on the problems created by the government bureaucracy. It interfered with their narrative. A socialist paradise in Argentina doesn’t exist, but the media believed as long as they supported the government’s propaganda the socialist paradise in their heads was enough to feel happy. Welcome to the world you ignored and tried to suppress. I don’t feel sorry for them, but I wish them well in finding a new job in a real economy that is a free market. Not the government fantasy they tried to pretend was real…
Yep, this happened when the right was in power, the military dictatorship knew ,they were not able to pay the money back to the international bankers they lend
DW news has done an even more extreme job in their reporting on Milei today. You would think everyone was happy with 200% inflation. I can only try and imagine how you can cope with that rate of price increase. There is a reason that he was elected and they gave it 2 seconds at the very end. DW never mention inflation at all in their report.
Yes when ppl are dead there's nothing more to worry about right? Why are the cuts in education n health while military is being planned to be quadruple budget from 0.5 % of GDP to 2 % in 8 years?
Ministry of Social Development? I can see why it was cut. The problem with some government jobs is that they were created by some government officials to repay political favors and to help friends and families get jobs, regardless of whether or not they provided any public benefit. This is very common in Latin American countries where departments made of word salad are simply created to benefit the elites.
Actually small government is not the answer. That only benefits the very rich. Spend some time in the Nordic states, Norway, Sweden, Iceland, Denmark, Finland, Germany. They all have high taxes, but the government spends the tax money on making people's lives better, so they have the highest quality of life and highest happiness ratings in the world.
@@JohnSmall314 They are all unhappy with their governments, and now have to face up to the fact that for decades they skipped actual military spending to rely on US troops to defend them from Russia. Now they actually have to spend their own budgets on the military they are finding out how hard it is.
Balancing the budget is easy. Just cut jobs and cut the budgets. Let the poor starve. Taking care of the poor , the ill and infirm is expensive. Millei is loved by the western capitalists as the creditors will love Argentina now. They would want to loan more monies to Argentina now….. And let the cycle begin again.
It's actually not easy those cuts have made him vastly unpopular... and put his Job in danger. In the short term Politically it's easier to just keep printing money you don't have, keep giving out money you don't have for political support.
Their President literally gets his financial advice from his dead dog through a fortune teller and I am dead serious, and you think people like that should lead a country?
@@EnglishwithJoehe is not working for the government, he is working for the Argentinian people. The government has outlawed the inheritance of public jobs (until this year if a public servant passed away, one of their children could take their parent’s job. This was actually banned in 2015, but the previous government (the one we voted out last year) reintroduced it again.
War is peace. Ignorance is strength. What nonsense. Milei is causing unnecessary suffering. Restructure the economy and then cut gov spending. Milei is cutting the gov first, putting people out of work, and they have nowhere to go because the economy is still not reformed.
No, he made it 10x worse. He's an anarchy-capitalist. He's already in talks to devalue the currency and turn the country into a factory for multinational corps that want cheap compliant labor
New Zealand too. Too much bureaucracy. Too much wasteful spending. Too much abuse of taxpayers money. Entitlements for benefits reeks so high in this country. Glad Luxon(our prime minister) is draining the swamp, cutting red tape and bureaucracy and wanting to make the country more productive.
The sickness of latin america is the same taking hold of europe now. welathy elites get big government contracts for services. The state owned enterprises and assets are slowly drained thanks to the corruption and public opinion manipulation (same elites own the papers, and the "fake opposition" newspapers. While everyone is lost around theatrics and right-wing against left-wing the same 10k people keep draining the country and blaming the other 10M
If u so fond of the new gov just go there , in u live in Eu and have some savings might easily buy a nice house for 5000 €. And will have a bright future in "new free brave world".
หลายเดือนก่อน +2
We have same issue here in Turkey, the government is the main employer and employs more and more people regularly than the country needs. The government spends too much money for institutions also which is another problem. The economy is not good for now because of the wrong economic decisions. Anyway we are not as bad as Argentina at the moment.
Every leader of a country that isn't a despotic regime like North Korea travels, because trade and good relations is important to every country. In this case you have one of the few world leaders who travels so frugally that he typically takes commercial flights.
The problem isn't lack of money, the problem is capitalism. All the wealth is being hoarded by a small group of people leaving everyone else with crumbs.
Capitalism is when the socialist government that has been around the last 80 years (with some interruptions) sends the country from being one of the richest in the world to this level of poverty? Capitalism is companies closing and escaping the country the last years? With all the youth escaping to another country to look for better opportunities? The "small group of people hoarding money leaving everyone else with crumbs" were always politicians themselves.
@@dydactic1112Perhaps we need, but how many? For how much? Capital is finite and must be used efficiently. And the only way to achive efficiency is through a free market oriented economy. Anything other than that and you are on the verge of a hyperinflation due to useless excessive spending by the state.
What is even sadder is conservatives who dont live in Argentina are gas lighting the people into thinking they are doing better and it will get better just to protect their shared views in policies with Trump in regards to economy.
Why would they get better? Inflation is much higher than last year, and the budget deficit appears to be as well. Nothing indicates that the economy will be any better off by pushing 15% (and counting) of the population in poverty.
@@lacdirk online search tells me argentina recorded a budget SURPLUS for the first time in many years in August 2024. Where are you getting the deficit from? That itself will stabilize the currency due to macro-economic readjustment & reduce inflation eventually (wont happen overnight)
@@garyish just look at the numbers, since Milei took office, consumption and production have dropped, there is a recession, the GDP is 3.4% lower, unemployment has increased by 20% and poverty has risen to 52.9%, and all this has increased the taxes that he promised not to increase, there seems to be no reason for thinking it will go better with this economic plan
@@HélpitiMartinez like I said above, macroeconomic readjustment so there will be short-term pain for long-term gain. Unemployment will increase as useless government bureaucrats are laid off.. Those people will eventually find private sector jobs as the economy starts to become a normal one.
@@garyish short-term pain for long-term gain is the mantra that economic liberals always say Until I see unemployment reach the pre-Milei level without asking for a loan to the IMF, I will think he is a disasterous economist, just look at the numbers
That's why they elected him. When you and the family run up the credit cards , eventually one day you break the habit or bankruptcy breaks it for you. Either way the dinners out, the Mercedes, the shopping sprees, the PS5 games every week, the clothes, etc. all goes away.
I live in Argnetina. I'm in my 30s, and I have never seen so much misery after 2002. This was a long process, and the main causes can be found in the last 10 years of bad decisions, but the new government is only making it worse and besides that it's behaving like a dictatorship that plunders the State for rich people that has busines with Milei officials
@@nickbrown5457 It’s impossible to be completely neutral about something like this and were the piece to be focussed on the macroeconomic issues hardly anyone would watch it. Moreover even when people are presented with authoritative information they are likely to interpret it in accordance with their pre-existing beliefs. Truth is no one knows whether or how Argentina will recover. All we can agree on is there has been decades of economic mismanagement ( which people voted for) and the way out is very painful for many
Right wing Libertarians in the comments jerking it to the 50+% poverty rate... "Inflation has gone down! Success!" Did you know inflation would be 0% if everyone just died? Success!
Saying that "prices have increased after removal of subsidies" is categorically false. They are the same, the end-users now are forced to pay them in full rather than fleecing the taxpayer to do it for them.
@@Andromeda365 subsidies exist everywhere but they should be targeted properly depending on what resources a government has.. because ultimately you will pay for it, this way or that way. If the government doesn’t have enough money and borrows, you will have budget deficits and then the government will print more money leading to inflation and currency devaluation. So you will pay that way which is worse than paying normally like this.
President Milei is acting like a real leader and apparently one of the few adults working in the public sector in Argentina. Unfortunately people will suffer and some will die. America is 26 years away from this situation if we don't stop spending while inflating our debt.
@@bryanward7451well we have innovation on our side. So debt isn't an issue if we continue to grow. Unfortunately greed and stupidity is just as prevalent as our output so 10 years will only have us start feeling the effect but just like Americans always tend to do, we will procrastinate. 26 years is the estimate that our debt hits 200% of our GDP. About 20% of our spending would then go to the interest of that debt. That 20% is the mark that makes America unsustainable.
LOL. Far right fanatism. Joe Biden got a mess from trump in 2020. No 54% poverty. No 236% inflation. No massive unemployment. No massive business closures. Far right cult are not known as very smart.
Eastern Europe passed through this at the beginning of early 90ties. It takes some three years to stabilise the economy, during those three years things will be extremely difficult, yes. But it’s only 3 years if one acts quickly. After that things will improved, one will have stable currency and competitive, much more stable efficient economy. Poland is good example. It’s was very poor country. Now it is prosperous, yes , not rich, but people live there very good.
Its what we need here in the US. Millions of absolutely useless jobs. These professionals will say they were needed, but in reality they were not. At least not in government. Try the public sector and you will see how a real job works.
How could he have caused Argentina to become plunged into recession? I may be wrong but Argentina was in recession for quite a while before he won.
Argentina is experiencing the consequences of living beyond it means for way too long. Sadly the recovery will be very painful.
@iceman4660----If you are unable to understand what a recession is, then, SHUT UP !!!
Yeah, you are wrong, although Argentina had a high inflation, industrial activity and GDP were going up. Recession started in april this year, after 6 months of activity drop
The main problem with Argentina is they are voting for president the most disasterous guys, Milei has a sychiatric disorder and you can notice he is a horrible economist, the guy before used to beat his wife, before him was Macri, that took debts for 100 years!!!
It's been a while since the elected president is worse than the one before, so there will not be any recovery until a decent guy comes
@@ramonroman4363 recession is a decline in the industrial activity and GDP for six consecutive months, exactly what happened in Argentina since april
@@HélpitiMartinez -----Forgive the guy to whom you are responding, simply because he has no bloody idea what a recession is.
@@HélpitiMartinez -----Of course, and this happens simply due to the basic law in Capitalist Economy: The law of Supply and Demand. If there is no consumption, therefore the capitalist stop investing. I stop here because this brings up all the sequels that come with this part of this moment wherein it happens. The GDP is only a measure of the total production and consumption of a country.
It is a problem when the government is the main employer and the government salaries are paid with borrowed money.
Only a problem when your goal is to exploit people for profit, but shockingly not every necessary job or service can be profitable. A private business would rather make millions selling a treatment, the government will spend millions researching a CURE.
Like in the US
They still do not understand it. They blame Milei for that. They want their subsidies back.
Somebody had to do it, that's just the reality of the situation. Will take decades for things to equalize
I enjoyed your Ted Talk on armchair economics.
The Very WEALTHY Argentinians are NOT Suffering. They live in Miami, Madrid, Paris, Rome, Milan and carry Italian, US, UK, French, Spanish Passports along with their Argentine Passport JUST IN CASE
This is one reason why some countries prohibit dual citizenship.
Milei has Italian passport himself. 😂
So does Bolsonaro.
All these nationalist buffoons usually have dual citizenship.
Trump is the only exception.
Even Ted Cruz has Canadian passport. 😂
Middle class Argentinians also have Italian passport
Of course the very wealthy do not suffer as much as the man in the street. How could it possibly be different ?
I suppose you could take all their money and give it to the poor ?
@@elfrank333 Argentina and Italy allow for dual citizenship.
Coming soon to the USA.
Probably so, but it will hurt rural/smaller communites more. If it wasn't for the military budget it would happen alot quicker. City like Ridgecrest would be a wasteland without China Lake. Others the biggest employers usually are local govt, hospital and Walmart. San Francisco would survive better due to Silicon Valley, tourism, resturants and it's the hub for sailboat racing among other things. I'll be most likely gone in about 5 years.
Afuera! If Musk is going to do it, it will work like Twitter where he cut 70-80% of staff and it's working just as well with 20-30%.
I'm hoping, federal government spending is at record levels of the GDP as is federal debt, its unsustainable and what we need is a Milei style dismantling of a big part of government. Do we really need to spend $4B a launch on an archaic rocket built out of 50 year old Shuttle parts by congressional demand, when commercial rocket launches are under $100M?
MAGA asked for it 🍿🍿🍿
Bro our economy is getting better, the inflation has practically stopped, we are far better than with the leftist government
30 years ago, Poland did same thing - shock therapy. It took around 15 years for the economy to rebuild itself.
Poland could send some people to work in other EU countries. Not so for Argentina.
Poland had special help from Western Europe and the USA. That help was denied Russia after the collapse of the USSR.
How can Poland and Argentina even be compared? It’s generally illogical and meaningless for many reasons. Geographically, Poland is in a different position, with the advantage of trading with nearby countries for the export of vegetables and fruits. Additionally, Poland has been, and continues to be, backed by the European Union and the US against Russia, stimulating its economy where possible because Polish soldiers might be needed in the future. Many Polish people worked in Europe and sent money back home, helping the country, and generally, Poles are more hardworking than Argentinians, who have a "siesta" mentality. Milei is selling the country right in front of everyone to wealthy corporations, just like it happened globally when a clown was put in power. Read the news about who he’s handing over state assets to now, and you’ll understand everything.
@@stomil yup. But sometimes it’s necessary. Now Poland is much stronger than it ever was under the Soviet-style system
Unfortunately, Argentina is not Poland, every government in Argentina is a mess, they go from the right to left governments and it's always the same
I can imagine the French get the chills when they hear about a President not allowing people to live off the state anymore LOL
As they should.
Yeah those poor elderly women are so greedy. Always wanting to eat and be warm. So glad Milei wrecked the economy to drive them to starvation.
@@mariusfacktor3597those poor elderly women should have thought about getting a good husband and raising kids to support them back in the future.
If you want to support them do it yourself. Robbing people of their money should never be ok no matter the 'good deed' you come up with.
@@mariusfacktor3597BS. The economy was wrecked well before Milei. Stop spewing propaganda
The socialist always cry about the poor that they steal from.
We must all make sacrifices so Billionares can become Trillionares
Yep we're trying to do the same in the USA..
All hail King Trump
Another jealous and envious individual who believes someone should feed him for free...
@richardwhite2460 if you are elitist, just say so
The other side of the coin is you keep your job, but just drown in hyper inflation over the next few years. There is no fixing a broken system.
@@mike_w-tw6jd just say YOU hate those who succeed...
You would think if you just watched this report that NOTHING good is coming from the current government. Inflation has been lowered by over 100% LOWER than last year. Rents are coming down tremendously. You may not like Melei's style, but there is no other way to get Argentina from turning into a third world country. I like how the narrator casually throw's in at the end "although inflation and the deficit are falling" 99% of content of this report is totally one sided. Boo France 24.
3 World? ARGENTINA is already 3 World 55% of the population under the poverty line official numbers unofficial it's much higher
I agree with you I thought the same thing.
我喜欢你的想法
You say inflation has been lowered by "over 100%". Does that mean they are now in a deflation?
The title says Argentina is plunged into a recession. If that is accurate - then your criticisms are beside the point.
He did what was necessary. I lived there for 7 years to know that government spending was out of control. Fiscal deficit had to be corrected, businesses and industries consolidated. Argentina can now start remaking itself, the process is going to be slow and painful, but the debt spiral has got to end somehow, nobody is coming to the rescue, and the Argentine people are collectively responsible.
You are kidding, right, MF?
Leave it to mass media to conflate issues and say nonsense. You don't cause a recession by not wasting money on government nonsense. It means the people and nation has more effective wealth and resources , without tens of thousands of parasites stealing from the public. And if you subsidize utility bills, people waste water and electricity.
There's a middle ground between a bloated public sector and anarcho-capitalism, which is making the situation infinitely worse as people can't even afford bare necessities to contribute economically. People not being able to get to work because the train tickets are 700% more expensive isn't good for the economy, obviously. There's a reason you'll find very few respectable economists who agree with Milei's radical views.
"Argentine people are collectively responsible"
...based on...? Their record shows the complete opposite.
@@dannnsss8034 Responsible in the sense that their woes are the product of their neglected responsibilities, which could still improve if they only believed it and did what it took to remake themselves. Their ailing economy is an extension of themselves, rather than a consequence of power in the wrong hands. But they aren’t aware of that, at least, not the vast majority.
Have to realize your country is no longer rich.
if everyone had comfortable life before Milei who elected him？
Quite.
Who could have had a comfortable life before him? Back then, with just $2 dollars, you could almost buy they entire country!
I am Argentine, and this has been happening for more than 30 years, which is the first time that we have a downward inflation, food almost does not increase, taxes are being lowered so we have more and more production, no We have a shortage of products, we just have to work hard to get through this recession, but we are on the right track
Debt enslaved a nation.
Yes, us did a number to Argentina
As Argentina goes, so goes US!
You mean Germany first.
Bro our economy is getting better, the inflation has practically stopped, we are far better than with the leftist government
@@DavidThomas-fb8bq German dont have a debt problem they jsut stingy.
@@DavidThomas-fb8bq tRumplandia is going to fail, he will destroy us in his first 100 days.
@@Cordycep1 Germany is starting to be in a very bad position themselves. Their Germans have been blamed for many things but their money belongs to them
Watching this from Argentina just hits different. There was no inflation, no people selling stuff on the street, no homeless people a year ago? Seriously? Everything just started out of nowhere in the last 10 months?
@@anastasiafalcon4637 Reporters are all Keynesians anyway, and they WANT Argentina to fail, so it can go back to being supported entirely by government spending.
Milei warned that things will get worse before they get better
Argentina sounds like an addict having withdrawals.
That's exactly how inflation works actually, if you print money the good effects come first and the bad ones later, but if you stop printing the bad effects come first and the good ones later.
209% inflation that's the problem
Argentina is getting the same treatment as URSS once had. Western finance will ruin it and then grab all the assets in exchange of the green toilet paper.
@@paxundpeace9970 I just read in a Reuters article that it is projected that by the end of 2025 annual inflation could be down to 27%. If he can do that then he stands a good chance of being forgiven the pain.
Definitely, and the opposing party cannot see it through as their whole economic plan was give for free, print money, and then we’ll see.
They have built their entire economy around having a lot of government jobs that do not conteibute to GDP. They needed to do the hard thing and scale back in order to correct the root cause of the inflation they have been plagued with for years. This does not mean it will be easy, and unfortunately many people will struggle as they find a new placement in the economy. Every additional person doing work that contributes to GDP will add to the wealth of their nation, and in a few years things will begin to look much better.
The report indicate job loses businesses closing students no longer going to school people selling old clothes doesn't look like things are going to get better for majority of the people.
Private businesses probably foreign will take over the hospitals , electricity transport education water supply etc.
The cost will be unaffordable to the ordinary citizens a few capitalist billionaires will emerge statistics Will paint a rosey picture workers will be sucked dry on minimum wage while majority of the millions that will be left becames invisible as American subject the president will be untouchable. That's what I think will happen in Argentina.
This is what the democrats want for the USA
Sounds like the USA
Making Argentina prosperous is now its people's job, and they can do that by building businesses that make life easier for others.
People who are able will leave Argentina, but I think that is the plan. Chase out the poor and make the kleptocracy strong.
The first guy chose sociology and he's surprised to not find a job in this field. He's more useful as a Uber Driver. The other people in this video were already broke before Milei came into power. The strong inflation of the first months of 2024 was the result of previous policies. Milei managed to slow down inflation and reduce the fiscal deficit.
deluded man
Best thing to do with government social workers is to fire them and give their salary to the people they were supposed to help.
@@EnglishwithJoe such a great argument, 🤦 I am impressed😒 two words… what an argument 🤦
@@EnglishwithJoe So what should he have chosen ?
@@plonssobviously a profession that is essential like the trades, electrician , plumber, construction . Today university degrees are useless
There were already more than 40% poor prople in Argentina before Milei took over the government. He is giving Argentina the medicine needed to solve the problems caused by 20 years of the extremely irresponsable K government.
Its gonna get BRUTAL before it gets better. All the spending put Argentina in further debt over ever since Peron.
We already seeing recovery of the economy, poverty is getting lower already and our salary is wining against infation for the first time
Its really ok if you still have food and a roof.
Yeah but that was being done by people they support so it wasn't a problem.
Inflation is still insanely high and energy prices will go up again.
@@xxxxescorpioxxxxAnd what part of Argentina are you from? Because poverty was at around 40% last year and this year is almost coming to an end and its risen by 50%??????? 🤔
When a government maintains demand via the public sector with state debt it is just kicking the problem down the road for future generations. Argentina is taking its economic medicine.
I agree, but Milei unplugged and cut dozens of thousands of jobs at once... This is madness.
Thats not really correct. Wealth is a consequence of import/export nationally. Why do you think that a public company magically does not make a profits while private companies magically do? you free marketeers can never explain basic economic observations because you're stuck in ideology mode.
@@dltn42It's the only solution, otherwise it would only get worse later.
This is something we all are in for, and deserve. In almost every nation, the public sector is too large, and public spending too extravagant.
Argentina was one of the worst in this respect. Hence the pain. The worse we allow it to go in our countries, the more painful the remedy is going to be.
Welcome to USA under Trump
No doubt.
We can hope, a 20% cut in government jobs would be a massive boon to our economic future.
@RandyHill-bj9pc Really? Under Trump?
He increased the deficit 8 trillion dollars in 4 years. He is not a successful businessman.
@@taze317 This video is false, I'm from Argentina
Bro our economy is getting better, the inflation has practically stopped, we are far better than with the leftist government
He actually transferred from a non value adding job to something of value.
That's what the capitalist driven market wants us all to believe, to abandon humanities and phylosophy in favor of becoming cogs in a machine.
Perhaps, but he'll remain poor adding or creating that value.
Economists are a value adding job, you dolt
Slowly cutting back is the answer not immediately like what happened here. The economy will not recover but the people voted for it. Just like here in the US you reap what you sow.
@@juancena1117slow and easy. That’s what junkies would say.😂😂😂😂 it hurts, but cold turkey, it’s got to be.
They should make a documentary on the life in Argentina right now
Basically, the future of Spain and France is Argentina today.
And Greece
I doubt that Spain or France will cut the social spending in medicine for the elder, the benefits for disabled people and cuts in children's wellfare, besides anihilating anything related to violence against children and women and to minorites like Milei did, Europe still have to behave regarding to social security.
You gotta do cuts to save the country that has been ran to the ground , mille is doing a amazing job. Always dark before the light, time and patience
an amazing job of destroying your country. everyone is laughing at your government
This was a very one sided biased report.
I am argentine We are very happy with the President Milei Everything Is improving
Yeah, why can't they show how cutting people's incomes and firing them.from their jobs is A GOOD thing
So biased 🙄
@@claudiovallone9217 Well done!
You happy with more than 50 percent of your countrymen is poverty😮@claudiovallone9217
What part was wrong, or what did they leave out?
Adopting fiscal responsibility after years of liberal waste comes with a price.
We are very happy with Our New President milei don't believe the left wing media
@@claudiovallone9217 I like Milei. 💯
Exactly. Given time things should turn around.
That's a lot of words for "I hate the poor"
@trekman10
Did you go to ultracrepidarian school, or were you homeschooled ultracrepidarianism?
Milei is delivering as promised. Best president ever in Argentina!
Austerity has NEVER worked. You need to spend to get out of a Recession.
if money exists.....and you dont have money?
You could not be more wrong. It is that type of thinking that has destroyed the future of the west.
The Government has money. Every Country has debt. It’s how you spend appropriately.
Bro our economy is getting better, the inflation has practically stopped, we are far better than with the leftist government
Miley trying to clean up the mess of the so called "socialists"... same happened in Peru, Fujimori did the same and saved the peruvian economy...Miley is intelligent, blessing to Argentina!
Yes… it clearly shows!! 😂😂
Wish someone like that would be in my country goverment servants don't do any job properly and get salary and pension this socialism is just a gimmick to full politicians pockets through beaurctatic system
Man study what is Austrian libertarian philosophy is. Basically they are deniers of social laws , for them they don't matter. Even don't exactly deny their existence.
The main postulate is personal freedoms , and if it will be given then everything magically will turn out just great.
West hated Marxist philosophy stand, that there are natural and sociological patterns that should be understood, and if so better more equal further might be created.
I don't agree with Marx ideology .
But im saying that libertarian postulate that sociological and natural laws are not important ,man that sounds just bonkers ! So libertarian / Miley approach is even worse than Marxist to me.
Im not aligning with any , i just remember what studied in uni and trying to think critically .
Then Fujimori had to flee to Japan.
@@Rom2Serge Bro our economy is getting better, the inflation has practically stopped, we are far better than with the leftist government
I am sure that electricians, mechanics, doctors, etc, do not have issues.. Also subsidizing does not work in the long run.. it is tough.. but it will surely get better.
THE THRUTH is: many are used to being supported by the government and suddenly: you see the real cost of things and that you have to earn what you spent. Argentina has been lied to the right for decades. This direction will take them eventually to TRUE SELF-Sufficiency.
So far it appears to only have increased the poverty rate to well over 50%, and made it impossible for many to support a family no matter how hard they work. Argentina is heading for another default, and another exodus of the young, the educated and the entrepreneurial.
Not really since two months the economy growths again and Monthly iflation is down from 50 percent then milei took office to about 3-4 percent per month.
@@JanMiddeke-uu4or Annual inflation remains over 200%, the highest in the world. That's thanks to the huge increase in prices Milei caused at the start of his tenure. And that hides higher inflation for things like food.
Incidentally, inflation always slows down naturally, because high prices reduce demand. When people start starving in the street, will we consider the resulting lower food and house prices a success story?
No prices are rising so fast they can't keep up. The currency is super weak.
209% inflation means prices double in less then a year.
Inflation is caused by central bank money printing which they needed too finance their goverment deficit of 14 percent of the bip if you count the central bank too.
Your keynesianic models are stupid.
You're telling me these people's jobs were so useless, they can't find a single employer who to pay them, and we're supposed to feel bad for them? Thank goodness they got laid off and stopped from collecting a check for not doing anything.
the main cut was in the construction sector, the infraestucture plans for roads, gas supply, construction of hospitals, universities and trains, the postal service, the salaries of hospital personel and public schools, not public employees that sit in offices, there's a misconception on what kind of cuts hes doing and what it means in a few years when all the insraestructure with no maintenance, drinking water or usable roads begin to collapse.
@@marinamunoz7117So you mean his plan is to give all these jobs to private corporates from other countries?
@@marinamunoz7117we have no money to pay the construction sector right now. It was a right decision
Blame the last governments who were irresponsible and corrupt. Milei is doing the homework to fix a broken economy. Argentina was close to become another Venezuela, but the people decided to give him a chance and the results are already showing up. I would like to have another Milei in the USA and Brazil.
Eh so se mudar para os EUA, fio. Va com Deus e cuidado para a porta do aviao nao bater no teu traseiro. Va com a consciencia em paz, porque a gente nao vai sofrer com tua falta.
PS: You know what? I blame the president before the last one. I blame Macri. He didn't fix anything. By the way, several people from Macri's government are working for Milei. Macri even supported him during the campaign. Fair game, isn't it?
😂🤡 yeah nice results!
Maximiliano, as a sociologist and an economist should know extremely better, that you cannot live beyond your means.
The USA has a national debt of $36T.
The inevitable conclusion of unnecessarily large unproductive government. Don't let it get to that point to begin with. Small government, large citizens, robust private sector economy.
name one country in the world that currently employs these tactics (Hint: there are none and there never have been any).
@@elijahechevarria57 There are ebbs and flows. Argentina is sharply shifting back to small government right now.
This was a good vid. Most of the news reports I see about Argentina just talk about Milei lowering monthly inflation without bothering to mention he increased the poverty rate from about 40% to over 50%. During his campaign, Milei promised radical reforms, but it was only after he won that he bothered to mention that ppl's everyday lives would become much harder for an extended period of time. I wonder if his voters would vote the same way if they knew this would be the result.
Are you serious? His campaign slogan was to eliminate inflation and reduce public spending. Was it necessary to explicitly state it? Inflation creates the illusion of wealth while simultaneously fostering the development of more profound and persistent issues. What he did was bring transparency to a deadly economic reality.
Perspective is what most of these alarmist reports lack. I've lived in Argentina for 20 years and in the last decade it has become totally out of control. Inflation in December 2023 when Milei took power was around 25-30% per month - no one really knows the exact figure. Public employees, including those who don't even turn up for work made up a huge percentage of public spending. Subsidies on power and travel were ridiculously high - why should the state pay for your electricity?
All these Peronist populist policies were simply designed to catch votes and keep them in power ad infinitum and to say that Argentina has been plunged into recession is laughable. It's been like this for years and survival is the name of the game.
At the very least, Milei is tackling this serious basket case economy head on. The medicine is hard, but there is no alternative.
Sounds like too many people worked for the government!
It’s going to be very painful for a while. Unfortunately, it has to be done. The US will be there one day.
The longer they wait the harder it is to fix. In the US 1/4 of all paychecks is government spending.
That's actually low compared to nost countries US has one of the lowest spending
@@seanthe100 We used to, its over 30% now.
Difference is that America is not printing money to keep the show on the road at the cost of every increasing inflation.
These reporters never reported on the depressing state of the Argentinian economy…
It reflected their own ideological preferences and they chose to not report on it.
They don’t truly care for these people’s hardships or they would’ve reported on the problems created by the government bureaucracy.
It interfered with their narrative.
A socialist paradise in Argentina doesn’t exist, but the media believed as long as they supported the government’s propaganda the socialist paradise in their heads was enough to feel happy.
Welcome to the world you ignored and tried to suppress.
I don’t feel sorry for them, but I wish them well in finding a new job in a real economy that is a free market.
Not the government fantasy they tried to pretend was real…
Yep, this happened when the right was in power, the military dictatorship knew ,they were not able to pay the money back to the international bankers they lend
DW news has done an even more extreme job in their reporting on Milei today. You would think everyone was happy with 200% inflation. I can only try and imagine how you can cope with that rate of price increase.
There is a reason that he was elected and they gave it 2 seconds at the very end. DW never mention inflation at all in their report.
Stop blaming Milei. Hes the only one brave enough to take the bull by the horns. Its gonna take long but Argentina would be better off then
Yes when ppl are dead there's nothing more to worry about right? Why are the cuts in education n health while military is being planned to be quadruple budget from 0.5 % of GDP to 2 % in 8 years?
Are you Argetinian??? Shut up! People are dying!
Ministry of Social Development? I can see why it was cut. The problem with some government jobs is that they were created by some government officials to repay political favors and to help friends and families get jobs, regardless of whether or not they provided any public benefit. This is very common in Latin American countries where departments made of word salad are simply created to benefit the elites.
Canada needs less than half government workers and no Trudeau and no freeland
Hell ya I’m looking forward to mass layoffs in the bloated liberal government soon
And you want homelessness and poverty to spike?
@@detroitdieselseries5071 no not homeless people, but useless government employees are a waste of tax dollars
So right... Canada needs its own Milei
Very true. Dustbin Trudeau is a disaster
Small government is the answer.
Absolutely.
Frugal.
$$$ for it’s citizens.
No debt.
Actually small government is not the answer. That only benefits the very rich.
Spend some time in the Nordic states, Norway, Sweden, Iceland, Denmark, Finland, Germany. They all have high taxes, but the government spends the tax money on making people's lives better, so they have the highest quality of life and highest happiness ratings in the world.
@@JohnSmall314 They are all unhappy with their governments, and now have to face up to the fact that for decades they skipped actual military spending to rely on US troops to defend them from Russia. Now they actually have to spend their own budgets on the military they are finding out how hard it is.
Economic psychologist? welcome to the suffering you inflicted on the average Argentinian for the last decade.
Sociologist, not psychologist. That's even worse.
France 24 is part of France tv company. It's a public company. France 24= socialism tv.
Balancing the budget is easy.
Just cut jobs and cut the budgets.
Let the poor starve.
Taking care of the poor , the ill and infirm is expensive.
Millei is loved by the western capitalists as the creditors will love Argentina now.
They would want to loan more monies to Argentina now…..
And let the cycle begin again.
The poor were thriving before?
It's actually not easy those cuts have made him vastly unpopular... and put his Job in danger.
In the short term Politically it's easier to just keep printing money you don't have, keep giving out money you don't have for political support.
Argentinians know better than anyone that when others will no longer lend to you to fuel your borrowing, everyone starves
@@gardencity3558
Providing basic needs cost monies.
Now, the poor are left to starve.
@@windsong3wong828 Temporarily but in time things will improve IMO. Argentina is in deep trouble this will take time to fix.
We all need a president like this.
Go ahead and move to Argentina - a real economic paradise.
Their President literally gets his financial advice from his dead dog through a fortune teller and I am dead serious, and you think people like that should lead a country?
@@rooster1012 If that's true then that dog must give excellent advice to be able to reduce inflation and starting to bring the economy up again.
OK, move to argentina or russia and be happy.
Let me know how it’s working out for you when it’s you who’s driving an Uber because your job has been cut. “First they came for the social workers…”
I was genuinely enjoying watching Maximiliano driving a taxi and being useful for the first time in his life. Well done president Milei!!!
if working for the government is not productive, what is MIlei?
@@EnglishwithJoehe is not working for the government, he is working for the Argentinian people. The government has outlawed the inheritance of public jobs (until this year if a public servant passed away, one of their children could take their parent’s job. This was actually banned in 2015, but the previous government (the one we voted out last year) reintroduced it again.
Firing people for working for the goverment. He is very productive at that. 😂
This is actually good news as you need a recession to reset all this mess
War is peace. Ignorance is strength. What nonsense. Milei is causing unnecessary suffering. Restructure the economy and then cut gov spending. Milei is cutting the gov first, putting people out of work, and they have nowhere to go because the economy is still not reformed.
This isn’t a recession
Milei is doing his job
Their economy has been in a free fall for years already, Miley is trying to fix it.
No, he made it 10x worse. He's an anarchy-capitalist. He's already in talks to devalue the currency and turn the country into a factory for multinational corps that want cheap compliant labor
Let's be honest, the whole nation was living on the dole!!! 🤑🤑🤑🤑🤑🤑🤑🤑
Yup, this is what eventually happens to countries with such overinflated public sectors. France and Spain beware...
China. Oh wait. Big Chinese government kicks Western Capitalist butt!
So much for the small government theory.
New Zealand too. Too much bureaucracy. Too much wasteful spending. Too much abuse of taxpayers money. Entitlements for benefits reeks so high in this country. Glad Luxon(our prime minister) is draining the swamp, cutting red tape and bureaucracy and wanting to make the country more productive.
The sickness of latin america is the same taking hold of europe now. welathy elites get big government contracts for services. The state owned enterprises and assets are slowly drained thanks to the corruption and public opinion manipulation (same elites own the papers, and the "fake opposition" newspapers. While everyone is lost around theatrics and right-wing against left-wing the same 10k people keep draining the country and blaming the other 10M
Argentina was about bankrupt. Milei is doing what is needed. Every one has to live with in their means
Argentinians should be glad that your current president have balls to do the right thing. No Govt will survive giving subsidies everywhere....
If u so fond of the new gov just go there , in u live in Eu and have some savings might easily buy a nice house for 5000 €. And will have a bright future in "new free brave world".
We have same issue here in Turkey, the government is the main employer and employs more and more people regularly than the country needs. The government spends too much money for institutions also which is another problem. The economy is not good for now because of the wrong economic decisions. Anyway we are not as bad as Argentina at the moment.
Javier Milei has traveled to 12 countries in his first year. So much for cutting government spending.
You mean those travels were unnecessary?
@@NovaJaye No, he got fed three times in each country, then slept like a baby with no worries. All free paid for by the taxpayers.
@ So, is Argentine president supposed to stay in the country, not sleep well, worried all the time?
He flies coach...
Every leader of a country that isn't a despotic regime like North Korea travels, because trade and good relations is important to every country. In this case you have one of the few world leaders who travels so frugally that he typically takes commercial flights.
The problem isn't lack of money, the problem is capitalism. All the wealth is being hoarded by a small group of people leaving everyone else with crumbs.
Capitalism is when the socialist government that has been around the last 80 years (with some interruptions) sends the country from being one of the richest in the world to this level of poverty?
Capitalism is companies closing and escaping the country the last years? With all the youth escaping to another country to look for better opportunities?
The "small group of people hoarding money leaving everyone else with crumbs" were always politicians themselves.
60,000 social science specialists LOLOL in other words, free money for no skill.
That's what the capitalist driven market wants us all to believe, to abandon humanities and phylosophy in favor of becoming cogs in a machine.
???
so we don't need social scientist?
@@dydactic1112Perhaps we need, but how many? For how much? Capital is finite and must be used efficiently. And the only way to achive efficiency is through a free market oriented economy. Anything other than that and you are on the verge of a hyperinflation due to useless excessive spending by the state.
@@dydactic1112 There is almost no demand for them in the free market because they produce almost nothing of value.
Every economy that relay on government jobs is dumbed. Les government job more entrepreneurs that's how economy flourishes.
What is even sadder is conservatives who dont live in Argentina are gas lighting the people into thinking they are doing better and it will get better just to protect their shared views in policies with Trump in regards to economy.
This is the “bitter pill” unfortunately. Things will get worse before they get better because now the economy is now undergoing readjustment.
Why would they get better? Inflation is much higher than last year, and the budget deficit appears to be as well. Nothing indicates that the economy will be any better off by pushing 15% (and counting) of the population in poverty.
@@lacdirk online search tells me argentina recorded a budget SURPLUS for the first time in many years in August 2024. Where are you getting the deficit from? That itself will stabilize the currency due to macro-economic readjustment & reduce inflation eventually (wont happen overnight)
@@garyish just look at the numbers, since Milei took office, consumption and production have dropped, there is a recession, the GDP is 3.4% lower, unemployment has increased by 20% and poverty has risen to 52.9%, and all this has increased the taxes that he promised not to increase, there seems to be no reason for thinking it will go better with this economic plan
@@HélpitiMartinez like I said above, macroeconomic readjustment so there will be short-term pain for long-term gain. Unemployment will increase as useless government bureaucrats are laid off.. Those people will eventually find private sector jobs as the economy starts to become a normal one.
@@garyish short-term pain for long-term gain is the mantra that economic liberals always say
Until I see unemployment reach the pre-Milei level without asking for a loan to the IMF, I will think he is a disasterous economist, just look at the numbers
The choice is between local corruption and international criminality. Milei is a stooge.
That's why they elected him. When you and the family run up the credit cards , eventually one day you break the habit or bankruptcy breaks it for you. Either way the dinners out, the Mercedes, the shopping sprees, the PS5 games every week, the clothes, etc. all goes away.
you misunderstand government debt as it cannot be equated to household debt
@@EnglishwithJoeYou're right because it is even worse for everybody as opposed to a single family.
@@EnglishwithJoe Why? because you said so? GTFOH.
@@EnglishwithJoe Government debt isn't free, its a poison future generations have to eat.
@@EnglishwithJoewhy is that? Because let me guess they can print money, well they did and now they are in an even worse situation because of it
If only Argentina join BRICS…Argentina will not be into this big problem.
This note is biased. Argentina is already getting out of the hole. Read the latest news.
Good, Milei is trimming the fat
yeah, and leading the people to sl...
Yes Argentinian people are obesed😂😂😂😂
Yeah, "highly trained." What self-delusion
I live in Argnetina. I'm in my 30s, and I have never seen so much misery after 2002. This was a long process, and the main causes can be found in the last 10 years of bad decisions, but the new government is only making it worse and besides that it's behaving like a dictatorship that plunders the State for rich people that has busines with Milei officials
Milei is the only hope for argentinian nation in this economic situation!
He is cutting fat in the government. GOOD!!
I am an unbiased viewer and this concentrates on the human interest angle as journalists do. By so doing it misses the real issues
Agree. But this is France 24, it's what they do. I'm only here to confirm my bias about France 24's lack of impartiality on literally any subject!
@@nickbrown5457 It’s impossible to be completely neutral about something like this and were the piece to be focussed on the macroeconomic issues hardly anyone would watch it. Moreover even when people are presented with authoritative information they are likely to interpret it in accordance with their pre-existing beliefs. Truth is no one knows whether or how Argentina will recover. All we can agree on is there has been decades of economic mismanagement ( which people voted for) and the way out is very painful for many
Milei îs selling out his country to multinational corps. It's not complicated. he's an anarchy-capitalist
Melei is saving money to put in his pocket
Right wing Libertarians in the comments jerking it to the 50+% poverty rate... "Inflation has gone down! Success!"
Did you know inflation would be 0% if everyone just died? Success!
Can you imagine living with 200% inflation ? You start the year on a decent wage and by the end of the year it is worth a third in real terms ?
Yup, starving the poor to death is Milei's plan to end poverty in Argentina.
100% neccessary.
The typical socialist perspective.
Thank you for reporting on this situation. I hope things will change.
And we are happy for all these changes :)
Saying that "prices have increased after removal of subsidies" is categorically false. They are the same, the end-users now are forced to pay them in full rather than fleecing the taxpayer to do it for them.
So the taxpayers whose taxes pay the subsidies shouldn't enjoy those same subsidies?
@@Andromeda365 they do but they have to pay the price. no morwe hidden cost
Sticker price has gone up hence sticker shock.
But yes real price is always the real price. Hence the famous phrase, there’s no free lunch.
@@Andromeda365 subsidies exist everywhere but they should be targeted properly depending on what resources a government has.. because ultimately you will pay for it, this way or that way.
If the government doesn’t have enough money and borrows, you will have budget deficits and then the government will print more money leading to inflation and currency devaluation. So you will pay that way which is worse than paying normally like this.
@@Andromeda365yeah dont you know that government spending is only for WARFARE and POLICE?
There is no problem that can’t be laid at the feet of working people.
President Milei is acting like a real leader and apparently one of the few adults working in the public sector in Argentina. Unfortunately people will suffer and some will die. America is 26 years away from this situation if we don't stop spending while inflating our debt.
26 years? That's a very generous estimate. If the US doesn't change course immediately, it will become impoverished in the next 10 years.
@@bryanward7451well we have innovation on our side. So debt isn't an issue if we continue to grow. Unfortunately greed and stupidity is just as prevalent as our output so 10 years will only have us start feeling the effect but just like Americans always tend to do, we will procrastinate. 26 years is the estimate that our debt hits 200% of our GDP. About 20% of our spending would then go to the interest of that debt. That 20% is the mark that makes America unsustainable.
LOL. Far right fanatism.
Joe Biden got a mess from trump in 2020.
No 54% poverty. No 236% inflation. No massive unemployment. No massive business closures.
Far right cult are not known as very smart.
Live within your means or go the way of Argentina
Eastern Europe passed through this at the beginning of early 90ties. It takes some three years to stabilise the economy, during those three years things will be extremely difficult, yes. But it’s only 3 years if one acts quickly. After that things will improved, one will have stable currency and competitive, much more stable efficient economy. Poland is good example. It’s was very poor country. Now it is prosperous, yes , not rich, but people live there very good.
Will we see the same in the USA?
Canada's future.
Where are the Indians in the video?
Yes canada and ontario are bankrupt
sounds like that is what you want.
What a parcial report..
The US needs a government employee reduction, big time !
Elon's will handle it
why? you dont know how an economy works, clearly.
@@BLT__00The economy works by having lot of state jobs earning a fortune from other people's money?
Yes, starting with the bloated defense industry.
They voted for him so stop complaining.
it gets worse before it gets better and I think it is a sustainable way of getting out of endless cycle of inflation
Its what we need here in the US. Millions of absolutely useless jobs. These professionals will say they were needed, but in reality they were not. At least not in government. Try the public sector and you will see how a real job works.
its bad all over the world
It could have been worse. Argentina is taking a step back to launch itself further. 1 step back and 3 steps forward.
Coming to the UK. Any time soon.
if everything was kept the same, who was going to pay the government spending with already an imposible debt and no more room for taxes?
Good!! We love Milei......if you need government assistance to live, you don't live from your work, you live from the government
Corporate welfare is ok though!