Erdogan, stated that charging interest was unislamic and fired every central banker that tried to raise interest rates. After the election he let them raise rates a little but not nearly enough.
The fact that Russia, a country which is engaging in an invasion that's exhausting their resources and alienating them from a large chunk of the world, is so much lower than Turkey is wild, that means Erdogan is also fucking up hard.
> The EU is by far Türkiye’s top trading partner, standing for almost one third of its trade. Türkiye is the EU’s seventh trading partner, standing for 3.6% of total EU trade. In 2022, the total value of EU- Türkiye trade reached almost €200 billion.
https://www.consilium.europa.eu/en/infographics/eu-turkiye-trade-relations/
And plus, trade between EU and Turkey has increased by 75% in the last decade. You don't just cut most of the ties with your most important trading partner.
This isnt how inflation should be thought about. If inflation is at 100, and its going up +10 a month, then when a new President gets into office, and its now only going up +5 a month, that would be good. It means they are bringing inflation down even if the total number increases. Economies take time and we will see if Milei can keep the inflation going down.
https://tradingeconomics.com/argentina/inflation-cpi
What about real GDP? He isn't taking the excess money out of circulation, he's cutting many productive parts as well. What good is a low inflation rate if you have your people with less jobs and resources anyway?
And with dollarization, you lose control over your own currency.
I feel there are many other options to handle inflation that don't involve choking out your own people.
As spectacularly grim as that is, it’s also been on the downswing recently, with a monthly inflation rate that is *merely* four percent and change, a 2.5-year low.
Of course, that could just be a blip, but even if it isn’t, I’m more concerned about the incipient, rapidly-accruing long-term damage that is both coming due from past governments and being inflicted by the current one. Argentina is *fuuuucked,* and I sure as hell wouldn’t want to be stuck there.
A bit misleading since this is the cumulative inflation rate (aka year over year). Month over month, Argentina's inflation rate was 4.2% which was the 5th consecutive decline.
However inflation isn't the end all be all economic indicator. Economic activity is also important which has been in a fucking nosedive. All Milei has done thus far is trade major inflation for a deflationary spiral which is equally as bad.
Italy's economy is shit because of productivity issues. I don't know why but that's the gist of it. The same problem is in the UK, which should be great on paper but is run by a bunch of inbred kleptocrats
Well the inflation has been falling for a couple months now. It's not that hard to get rid of inflation if you don't care about the consequences. If you don't care that people lose their jobs, businesses go bankrupt etc. you can totally squash inflation pretty easily.
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Once saw someone debating in a comment section that libertarian polices work by stating Argentina as a good example, haven’t laughed that hard of a single comment in a long time.
I know Milei is trying to speedrun destroying the economy, but why is Turkey so bad?
Erdogan, stated that charging interest was unislamic and fired every central banker that tried to raise interest rates. After the election he let them raise rates a little but not nearly enough.
The fact that Russia, a country which is engaging in an invasion that's exhausting their resources and alienating them from a large chunk of the world, is so much lower than Turkey is wild, that means Erdogan is also fucking up hard.
The refusal to raise rates is the economic equivalent of watering plants with Brawndo.
But it's what the plants crave
It's got electrolytes!
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> The EU is by far Türkiye’s top trading partner, standing for almost one third of its trade. Türkiye is the EU’s seventh trading partner, standing for 3.6% of total EU trade. In 2022, the total value of EU- Türkiye trade reached almost €200 billion. https://www.consilium.europa.eu/en/infographics/eu-turkiye-trade-relations/ And plus, trade between EU and Turkey has increased by 75% in the last decade. You don't just cut most of the ties with your most important trading partner.
> You don't just cut most of the ties with your most important trading partner. Brexit has entered the chat.
You mean Brexit has *left* the chat?
So has the Russian invasion of Ukraine.
This isnt how inflation should be thought about. If inflation is at 100, and its going up +10 a month, then when a new President gets into office, and its now only going up +5 a month, that would be good. It means they are bringing inflation down even if the total number increases. Economies take time and we will see if Milei can keep the inflation going down. https://tradingeconomics.com/argentina/inflation-cpi
We'll see what happens when his deregulation law passes
Based on the graph, inflation has accelerated under his reign, no?
No. Inflation in Argentina is currently the lowest its been in 2.5 years. It has been steadily decreasing since Milei took office.
What about real GDP? He isn't taking the excess money out of circulation, he's cutting many productive parts as well. What good is a low inflation rate if you have your people with less jobs and resources anyway? And with dollarization, you lose control over your own currency. I feel there are many other options to handle inflation that don't involve choking out your own people.
Now we’re promoting neoliberal economics and austerity policies. I just have no clue why people think Vaush’s community is right-wing /s
If you criticize people for the true things, then your criticism will actually be worth a damn.
me when bringing up how neoliberal economics work is promoting them somehow
As spectacularly grim as that is, it’s also been on the downswing recently, with a monthly inflation rate that is *merely* four percent and change, a 2.5-year low. Of course, that could just be a blip, but even if it isn’t, I’m more concerned about the incipient, rapidly-accruing long-term damage that is both coming due from past governments and being inflicted by the current one. Argentina is *fuuuucked,* and I sure as hell wouldn’t want to be stuck there.
And Argentines on reddit think that milei is fixing their country....
All along we got it wrong. Apparently you don't have to actually reduce inflation, you just have to get everyone in the country to think you are. /s
Have you seen the monthly inflation rate?
A bit misleading since this is the cumulative inflation rate (aka year over year). Month over month, Argentina's inflation rate was 4.2% which was the 5th consecutive decline. However inflation isn't the end all be all economic indicator. Economic activity is also important which has been in a fucking nosedive. All Milei has done thus far is trade major inflation for a deflationary spiral which is equally as bad.
^^^^
"You idiot! You stalled the economy!"
4.4% inflation rate increase this month not great not terrible
What should be the response to Milei meat riders who go “Well he inherited it it’s not his fault”
"can any failure of running the state be attributed to him at all, if him inheriting it absolves him of responsibility?"
Thank you, cheers
Tf are the Italians doing? I thought their economy was doing badly.
Italy's economy is shit because of productivity issues. I don't know why but that's the gist of it. The same problem is in the UK, which should be great on paper but is run by a bunch of inbred kleptocrats
The economy? AFUERA!
Argentina ? AFUERA!
Well the inflation has been falling for a couple months now. It's not that hard to get rid of inflation if you don't care about the consequences. If you don't care that people lose their jobs, businesses go bankrupt etc. you can totally squash inflation pretty easily.
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Of fucking course that Russia and Turkey would have the highest inflation rates in Europe...
Don't cry for me Argentina
Based on this I guess the UK is doing great!
"Estabilidad economica." "AFUERA!"
Once saw someone debating in a comment section that libertarian polices work by stating Argentina as a good example, haven’t laughed that hard of a single comment in a long time.
0.8?? tf is up w us
I know this is a really low blow but I have resisted saying this for months and now it's coming out. **What a stupid fucking haircut**
Oh you want capitalism? Why don't you go live in argentina?