MercoPress. South Atlantic News Agency
Controversy over Argentine lawmakers doubling their salaries confirms runaway inflation
Argentina’s head of the ruling Victory Front’s bloc in the Lower House Deputy Julián Domínguez labelled those who lashed out against Deputies and Senators for doubling their salaries as “hypocrites”. Read full article
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Disclaimer & comment rulesSo wait all of the posts where O'g said there was no inflation were not true? I am Shocked just Shocked!!
Feb 14th, 2012 - 10:19 pm - Link - Report abuse 0Gonna be hard to deny the Unions now...
I told you it would get fun to watch in the next few weeks, you can't write a telenovela better than this!!
They might not be able to buy any food, but they can make a money fort (http://3.bp.blogspot.com/_cW4kucEGIgI/TBXyl_fk5aI/AAAAAAAAJDA/R8jUg-xhy4Q/s400/money_fort.jpg). That should keep them happy for a while.
Feb 14th, 2012 - 10:23 pm - Link - Report abuse 0@ 1 Ogara lives in Europe, why would he care? He's always saying bullsh*t just because he doesn't live in Argentina. Why do you care what the SOB can say?
Feb 14th, 2012 - 11:00 pm - Link - Report abuse 0Ahh Yankee you return well Argentina is still growing rapidly despite your predictions of doom.I think it was february or March you said CFK would be out of office wasnt it?
Feb 14th, 2012 - 11:30 pm - Link - Report abuse 0well yankee the economy grows foreign reserves rise by the day while England stagnates and the Tory Daily The Telegraph today pour scorn on Englands inflation figures.
3the estanciero son who supported the proceso.I have been living long enough in argentina to know how ordinary Argentines feel something a little oligarch like you could never know
@4 ... and meanwhile in Argentina, no one can afford food.
Feb 14th, 2012 - 11:39 pm - Link - Report abuse 0@4... O'Gaga - Do you believe the official figures of inflation at 9.8% are correct? Or you also believe the bullshitting, brainwashing lies that CFK is pushing out?
Feb 15th, 2012 - 12:05 am - Link - Report abuse 0I have been living long enough in argentina to know how ordinary Argentines feel
Feb 15th, 2012 - 12:16 am - Link - Report abuse 0we should laugh, but alas if you know how the simple people felt, you would be anti CFK and demand she give up the fals claim, and get on with looking after her own country, would you not .
I know nothing about the Argentine economy but base how well or how badly they are doing on their rants about the Falklands. Must be pretty bad at the moment.
Feb 15th, 2012 - 12:17 am - Link - Report abuse 0@8 there are basically three social classes in Argentina, the political class who seem to buy Christian Louboutin shoes. Then there are the plebs, who jump about shouting about some islands they never owned, whilst being driven into poverty. Finally there are the indigenous classes, who typically end up getting shot by land owners.
Feb 15th, 2012 - 12:54 am - Link - Report abuse 0It's that simple.
I thought the three RG classes were the rich who had all their money overseas and didn't give a monkeys what happened... the long suffering middle class who see their savings vanish every ten years or so.... and the poor ... who eat cake and will always be with us......
Feb 15th, 2012 - 08:12 am - Link - Report abuse 0kbec, I would be interested if someone done some research into the economic situation in Argentina and their ranting about the Falklands to see if the two correlate. I think you could be proved right!
Feb 15th, 2012 - 09:47 am - Link - Report abuse 0It appears to be Argentina's back-up plan - “In case of emergency moan about Falklands”.
@10,11 I think we already have two historical datapoints (1970s, 2010s) displaying the Argies slippety-slide towards dynastic authoritarianism and the associated rise in ranty-shouting about the Falklands. The real question would be is it a causal or correlated relationship?
Feb 15th, 2012 - 11:41 am - Link - Report abuse 011 BenC30
Feb 15th, 2012 - 12:06 pm - Link - Report abuse 0I do not profess to know a huge amount about this but the disparity between the official inflation figure and the actual figure has been a point of annoyance for the IMF for a while now and something which people in the country recognise, in the main, as a fact. The reason this is coming to a head now is that, previously, the government has been able to give inflation busting pay rises (above the supermarket rate) whilst passing these off as rises which show that the government is on the side of the people. With the current squeeze in the EU (and globally) and a possible decrease in the GDP of Argentina by 50% the government is now trying to revert to just giving pay rises at the official rate thus leaving people out of pocket. The unions have cottoned onto this and, given that the government has said that it is on the side of the people, they are now unwilling to accept a decrease in living standards. At the same time the 30th anniversary of the war has come along and, in my humble opinion, the government has tried to raise awareness of this as a bit of a smoke screen to the pay cuts. Unfortunately the right wing media has caught hold of this and the government is no longer able to keep control of the use of “Malvinas sentiment” as a political tool. The two are linked but not by definition.
CFK has done a great deal of good in Argentina, bringing people out of poverty and trying to smash the monopoly of the right by the right wing Clarin group. I am not her biggest fan but have seen the improvements in the country. The difficult is that once you start to fiddle the figures you are going to get caught out and this is starting to happen. Part of the inflation “fiddle” has been to ensure a decrease in the amount paid out under inflation rated bonds but with the actual inflation level continuing to rise due to massive pay increases it has got to an unsustainable level. This has lead to capital flight and the currency restrictions currently in operation.
4. I never said CFK will be out of office in March. What I said at the beginning of Feb is that in 4-6 weeks it will be fun to watch the desperation and the start of the collapse.
Feb 15th, 2012 - 02:06 pm - Link - Report abuse 0Based on just today's headlines the wheels are flying off and they don't know what to do...
Fun Fun Fun
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