Because inflation rate is decreasing. It’s still triple digits but it’s going down.
Imagine a wildfire spreading rapidly. Remedial action is taken and then it continues to spread but notably slower. Obviously there’s more to do but it is still good news for a place where that is in short supply.
It’s not a good thing. No one here is arguing that poverty is good. It’s that their current choice is ‘still pretty high inflation w/ high poverty’ is preferable to ‘holy shit that’s their monthly inflation w/ high poverty’.
Low poverty is no longer in Argentina’s deck for the foreseeable near future. Inflation will rob the working class people of any thing they are given or earn.
The poverty was far lower before Milei started implementing austerity measures, so yes, by saying his measures are a good thing, you are saying high poverty is a good thing.
Inflation is going down. That brings hope. A year ago some saw their life savings’ purchasing power cut to a third. That brings despair. This year it only went down by half, which brings hope because it’s an improvement. Once inflation is at a reasonable level, economic growth will have to bring hope, which it probably won’t, since Milei will be focused on lowering debt and trying to fill the hole in the central bank, which still stands at negative 7 billion dollars in foreign reserves.
But the people are unemployed and in poverty.
New Normal
They would be either way. For the moment there is some hope and evidence things are getting better instead of just endlessly sliding worse and worse.
The evidence is it’s getting worse, not better. Poverty is increasing significantly.
How is there hope?
Because inflation rate is decreasing. It’s still triple digits but it’s going down.
Imagine a wildfire spreading rapidly. Remedial action is taken and then it continues to spread but notably slower. Obviously there’s more to do but it is still good news for a place where that is in short supply.
Why is low inflation but high poverty a good thing?
It’s not a good thing. No one here is arguing that poverty is good. It’s that their current choice is ‘still pretty high inflation w/ high poverty’ is preferable to ‘holy shit that’s their monthly inflation w/ high poverty’.
Low poverty is no longer in Argentina’s deck for the foreseeable near future. Inflation will rob the working class people of any thing they are given or earn.
The poverty was far lower before Milei started implementing austerity measures, so yes, by saying his measures are a good thing, you are saying high poverty is a good thing.
Inflation is going down. That brings hope. A year ago some saw their life savings’ purchasing power cut to a third. That brings despair. This year it only went down by half, which brings hope because it’s an improvement. Once inflation is at a reasonable level, economic growth will have to bring hope, which it probably won’t, since Milei will be focused on lowering debt and trying to fill the hole in the central bank, which still stands at negative 7 billion dollars in foreign reserves.
Being in poverty with hope is really not any different from being in poverty without hope. You starve either way.
It’s why inflation sucks soo much.
The only realistic way to make it so you can keep affording to buy something is to make it so alot of people can’t afford anything for now.