MercoPress. South Atlantic News Agency
Argentine economic activity expands in September for 25th straight month
Argentina's economy grew 7.7% in September from a year earlier, the government said on Friday, beating market expectations and marking the 25th straight month of growth. Read full article
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Disclaimer & comment rulesyeah, sure, everything's fine, that's why she's doing now all she is doing and she did not before the elections :) INDEC is all about lies.
Nov 18th, 2011 - 10:51 pm - Link - Report abuse 0Boludo even the oppostion recognize growth of 7% so is it 7% or 9% its a hell of a lot better than anywhere else outside of Beijing
Nov 19th, 2011 - 01:44 am - Link - Report abuse 0How is the economy doing so great in Argentina when store after store is announcing closing, everything for sale, buy one get one free, credit cards are cancelled, 25-50% off for cash, discounts for any purchase over 50 pesos, etc.?
Nov 19th, 2011 - 05:37 am - Link - Report abuse 0Their economy may well be growing but as they have an inflation rate of 25%, the inflation counter acts the level of growth leading to what jerry put in his post above, and ultimately leading to the economic growth bubble bursting and the economy collasping in on itself as a result.
Nov 19th, 2011 - 08:35 am - Link - Report abuse 0Another article mentioned a consumer spending spree. If this is the case then Argentines with a memory of more than ten years may well be buying things rather than putting their hard-earned cash in the banks. It will be interesting to get back there and get a fresh perspective.
Nov 19th, 2011 - 09:07 am - Link - Report abuse 0Ahh you guys have real genius.So now the rest of us can have this wonderful new insight on the World China in the past decade has been in decline due to its inflation forceing its people to buy things while the EU is booming with its low inflation.Thanks fellas for your education.We are forever indebted to your extraordinary knowledge of economics
Nov 19th, 2011 - 09:13 am - Link - Report abuse 0China is an emerging market and not without considerable problems. Inflation being one of them.
Nov 19th, 2011 - 09:39 am - Link - Report abuse 0#6 Well looking at your posts on all the other topics, you and the other RG numbnuts are indeed in need of a eduction, not least of which is seeing who is telling the truth - I believe my Argentinian friends when they tell me it is getting from bad to worse.
Nov 19th, 2011 - 11:19 am - Link - Report abuse 07 i havent seen a country yet without considerable problems includeing Argentina.8Chris Rs friends in Argentina must all live in Recoleta or San Isidro where they are horrified by the apalling language of the Pinguinos.Indeed everything is going from bad to worse Presidents useing the voseo and upstarts from Gran BA getting rich and buying new cars.All indeed dreadful stuff what next Paraguas en the Colon
Nov 19th, 2011 - 12:40 pm - Link - Report abuse 0I hear that argument so often from posters on here. Any Argentine friends I have MUST be rich because they dare to complain about government policies, or comment on the inflation, or the poor investment in the infrastructure, or the rampant corruption. Nope. My friends range across the social spectrum. And they do not all live in BsAs which is very different to the rest of Argentina.
Nov 19th, 2011 - 01:39 pm - Link - Report abuse 0You have to stop listening to the mantra that anyone who questions the government is wealthy and a traitor to the country. You need people to create wealth and jobs because the problem with CFK's brand of socialism is that she will run out of other people's money to spend.
@ 9 Boudou, Jaime, Timerman, etc etc etc have apartments in Puerto Madero, Recoleta, San Isidro, etc etc. What is your problem? Cristina de Kirchner is running out of dead fish to give the people who voted for her, now that 54% is less than 20 % :) you can fool some people sometimes but you can't fool all the people all the time Ogara.
Nov 19th, 2011 - 05:09 pm - Link - Report abuse 0U got in on this report o'g but the remarks are the same.it lies,it'll burst to the detriment of the argentine people and they inflation negates it.however one person knows some argentinians (#8) so has inside information and it's the truth.#3.sales deals are causing inflation,but for Elaine it spending rather than saving that's not good.I bet Italy would like to have the same problems and the UK would hope to get some gain from it to fund their debt reduction.don't know what any of it's got to do with china,o'b wants them to revalue the yuan to help global capitalism to re-balance itself.or is it all lies lies?
Nov 19th, 2011 - 05:27 pm - Link - Report abuse 0#11 xbar - Minor thought, but you left CFK off your list of those having an apartment in one of these “rich” areas.
Nov 19th, 2011 - 06:12 pm - Link - Report abuse 0Not read the comments yet, but I have to ask -
Nov 19th, 2011 - 06:51 pm - Link - Report abuse 0Is this 9% increase corrected for INDEC's 9% 'Official' inflation?
This would, of course, mean a 0% nett increase if we accepts the Government's INDEC inflation figure.
Or if we accept the world economists' inflation calculations of around 25% annual inflation, the 9% increase represents an increase in economic activity *but a huge decrease in trade value/income*.
How are we to know?
Why so many bad economists in here?
Nov 19th, 2011 - 07:01 pm - Link - Report abuse 0“Argentine economic activity expands in September for 25th straight month”
Nov 19th, 2011 - 08:31 pm - Link - Report abuse 0I think I enjoyed the past predictions of Yankeeboy Fred, Elaine, Teaboy and Frank about the Argentinean economy, now I enjoy even more the look at their sad faces after reading this article.
Keep the good job! :-)))
Argentinas growth is undeniable. However there are many thing that should be modify. To begin with a 20% inflation is not sustainable, you can cope with it for a short period of time, but after a certain point....problems. The second thing is the fiscal balance, too much expenditure going on. Luckily the goverment has started to work on this. And finally, it is very important to reduce the capital flight. The good news is that CFK has acknowledge this being a problem. The bad news is that she took the wrong measures to avoid it. I have a feeling that she would change her attitude toward this issue and free the exchange market.
Nov 19th, 2011 - 11:59 pm - Link - Report abuse 0The problem with inflation is that the goverment still denies it, and even if they stop denying it and decide to fight it, it would be extemely difficult for them to be credible. How can some one believe them when they have deny it for five years???
Even so, the most complicated about inflation is the CGT and Moyano. In order for the Goverment to curb inflation they will have to stop Moyano from asking 30% salary increases, which would result in breaking their political alliance and social caos. My forecats: They are going to press Moyano, debilitate him politically, and even press Justice so that he goes into jail. All this after december, bumpy summer ahead for my country! No worries and dont cry for us, we have been much much much worse, we are still here.
Good luck, JB.
Nov 20th, 2011 - 12:11 am - Link - Report abuse 0If your voice hs any influence on the course of events, now's the time to shout it out.
@#16 Marcos, you just don't get it do you? Exports 'surging ahead' with rampant inflation means imports are that much more expensive. Everyone in Arg. will be that much more poorer (except CFK and her cronies). Stupididly, she has decided that now is the time to raise prices!!!
Nov 20th, 2011 - 10:18 am - Link - Report abuse 0When inflation reaches 35%, early in 2012 (due to central bank devaluation of the pesos and refusal to support it internationally) Arg, risks a downward spiral in the economy as a whole. The exports will continue to 'surge ahead' in value terms because the money is fast becoming a basket case, it does not mean that physical exports will be increasing (just like now I suspect).
Same old story again USA and Europe want the world economy to continue to grow to pay off the debts because the worker( now largely middle class') are already depressed economically and someone wants argentine workers to pay something they have no need to pay yet.that more or less gets the story right to where it is going from the start.the workers who are already being robbed of their labor value are still getting too much because capitalists can't get enough return on the capital they employ to pay finance capital enough.a little from the majority so the culprits don't have to pay anything.why not replace them.
Nov 20th, 2011 - 12:49 pm - Link - Report abuse 0Inflation devalues savings and debts, but increases the book value of assets and labor.
Nov 20th, 2011 - 01:14 pm - Link - Report abuse 0Deflation increases the value of savings and debts, but reduces the value of assets and labor.
Which one you like?
Stability, please.
Nov 20th, 2011 - 02:46 pm - Link - Report abuse 0JBs comments are easily the most lucid here.Argentina is undeniably growing over a long period of time quite spectacularly.But inflation of thios magnitude over a period of time is a serious issue which the government is now challengeing.Even the oppostion economists have admiied inflation is falling and the dollar flight give gave such hope to the Anti argentines or Anti CFK brigade has not only abated but reversed in the last week
Nov 20th, 2011 - 05:14 pm - Link - Report abuse 0Such is the nature of a post-election period, O'G.
Nov 20th, 2011 - 07:19 pm - Link - Report abuse 0Reduce inflation, stop spending more than you earn, stabilise the economy and all might come good.
If JB is a politician - or if you hear a politician saying the things JB is saying - back him openly and loudly.
I am not a politician. Jajaja. But i want you to understand this, it is very hard to change culture. Argentina inmagration processes and biggest population growths took place first during the radicalisim and then during the peronisim, which were the largest populist regimes of our history. It takes many years to move from this way of thinking. Since the return of democracy people have started to see populisim as one of the main causes of poverty. However, after the 2001 crisis, the country needed measures of stimulus to avoid a bigger social caos. At that time i believe it was justified to set subsidies, freeze tariffs and restore production levels to foster new jobs and reduce unemployment. I believe this is what europe should be doing (i dont want to enter in a debate here, in the end europeans have to decide what they want). The problem was that after the country had recover the goverment did not change any of the economic policies. Here is were there fail, goverment should always act contracyclicaly (i dont know if that adverb exists, ja). They fail to do so because they were tempted by the policitacl benefits of having a populistic approach. The fact that 46% of the population did not vote for Cristina is very inspiring for me. In another time, a candidate with a populistic approach and a booming economy would have probably recived many more votes. We are very slowly change our way of thinking, but it takes many years. Populisim is a virus, it can corrupt any society.
Nov 20th, 2011 - 09:57 pm - Link - Report abuse 0@25 You make some very interesting points. You are right that changing cultural attitudes takes decades, even generations.
Nov 21st, 2011 - 11:50 am - Link - Report abuse 0Good thoughts #25
Nov 21st, 2011 - 12:17 pm - Link - Report abuse 0Contracyclical behaviour is an essential part of the process:
“Behold, seven years of great abundance are coming in all the land of Egypt; and after them seven years of famine will come, and all the abundance will be forgotten in the land of Egypt, and the famine will ravage the land.
“So the abundance will be unknown in the land because of that subsequent famine; for it will be very severe. . . . . .
“Let Pharaoh take action to appoint overseers in charge of the land, and let him exact a fifth of the produce of the land of Egypt in the seven years of abundance.
“Then let them gather all the food of these good years that are coming, and store up the grain for food in the cities under Pharaoh’s authority, and let them guard it.
“Let the food become as a reserve for the land for the seven years of famine which will occur in the land of Egypt, so that the land will not perish during the famine.”
Genesis 41
@27 They should tattoo that on the arse of political leaders. So they don't forget it. : )
Nov 21st, 2011 - 02:03 pm - Link - Report abuse 0Good quote Geoff if your Christian a bit of rubbish if your not.are we going to scan the bible for economic knowledge first and then inca works.culture adapts to ways of living without instruction but it won't adapt to allow it's own exploitation that call social engineering among other things.tread lightly on the earth you are only passing through.
Nov 21st, 2011 - 02:10 pm - Link - Report abuse 0excellent quote! Ialso agree with ElaineB. Yes, we should tatoo it on the politicians arses
Nov 21st, 2011 - 03:20 pm - Link - Report abuse 0“tread lightly on the earth you are only passing through.” #29
Nov 21st, 2011 - 04:39 pm - Link - Report abuse 0Trouble is, Yul, with 8 billion of us treading lightly every minute of every day of every year, the earth still gets heavily trampled.
Isn't it interesting how a business in the UK urges UK companies to get out and increase exports to s am and Asia as that is where the disposable income is.there is a recession if they can't export
Nov 21st, 2011 - 06:12 pm - Link - Report abuse 0can anyone guess how much it cost to rent a room of 25 m2 in a villa inside the city of Buenos Airess????? come on!! guesss
Nov 21st, 2011 - 07:15 pm - Link - Report abuse 0@yul #32
Nov 21st, 2011 - 09:25 pm - Link - Report abuse 0And isn't it interesting how we were exporting in far greater quantities to both south america and asia prior to 2008 gobal recession? yes i think it is - As it shows you statement is complete nonsense especially with the devaluation of your currency in argentina and anti import stance by your government making exporting to argentina, quite frankly not a profitable enough and futile excercise.
#34 but that's what the business organisation is
Nov 21st, 2011 - 10:22 pm - Link - Report abuse 0telling it's members(businesses)to do.as I say Europe is in a mess and it wants others to get them out of it,while others are saying Argentina is heading for cooling.doesn't make sense if you listen to it.
The international crisis will hit Argentina. There is no doubt about that. It has hitted Brasil, and it will hit here soon enough. I really hope for a quick solution to the international crisis, otherwise there will be more poor people in Argentina, in Europe, in Asia, in the world, no country can escape from this mess.
Nov 22nd, 2011 - 01:32 am - Link - Report abuse 0The thing that really bugs me is that many of today's problem could have been avoided if politicians had acted faster. I dont understand this attitude, europeans should be giving the example, not doing exactly the opposite. I didnt expected this mess to happen, not from Europe at least.
All the best to those nations, including Britain (despite Malvinas). All the best to the new elected goverments and all the best to europeans. And cheer up, crisis eventually end!!
“The thing that really bugs me is that many of today's problem could have been avoided if politicians had acted faster.”
Nov 22nd, 2011 - 07:20 am - Link - Report abuse 0I could not agree more. Too much dithering.
Are you going to tell us the answer to @33? : )
@35 - Would that be the same business organisation that also recommended that UK business should seek to do more buisness with Iran, as they had also stated Iran as being one of the top emerging economies. Err “face palm” lol.
Nov 22nd, 2011 - 08:59 am - Link - Report abuse 0Seriously Buisness hardly pay any attention to such organisations as they are clearly incapable of giving good solid business advice and are also clearly poor in there judgement. Being a buisness owner myself that exports products to other countries i can safely say their recommendations are worthless and such recommendations are evidently not being thought about throughly before being publish. they are therefore nothing but poor recommendations that have simply been pulled out of a brain dead persons hat without any consideration being made to the actualy economic benefits or risks involved should one actually listen and follow their recommendations.
I mean please tell me how we can export to Iran when sanctions by the UK, EU and USA plus other countries prevent such exports? How can we export to argentina, when 1 the devaluation of the peso compared to the value of the pount make it hardly worth the time and effort? And where 2, Argentina itself blocks a large number of products from being imported, meaning such products are confiscated by the argentina government? Which directly results in the loss of the products and no return on the value of the product and therefore no profit being made but, infact, a loss being incurred as a direct result. Which although maybe covered by insurance, it will still cause the insurance premiums to go up.
Yes! It costs 300 dollars!!!
Nov 22nd, 2011 - 03:04 pm - Link - Report abuse 0#33 #37 everyone can guess,quite a bit of guessing goes on anyway.what's needed is the correct answers isn't it :-/
Nov 23rd, 2011 - 01:23 pm - Link - Report abuse 0Commenting for this story is now closed.
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