MercoPress. South Atlantic News Agency
The Wall Street Journal: “Inflation stalks Macri in Argentina”
The Wall Street Journal has published a piece on the political situation of Argentine president Mauricio Macri, battling inflation, an undelivered electoral pledge, and allegedly very much aware of a long standing spell: no non Peronist president has been able to complete the mandate for which he was elected. Read full article
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Disclaimer & comment rulesA gently reminder from the NYT to Mauricio Macri.
Feb 15th, 2018 - 03:47 am - Link - Report abuse -1“...to succeed, Mr. Macri also has to keep his pledge to slay inflation and restore economic growth.”
Stop the bull, NYT. Argentina is now governed by a group of CEOs whose main pastime is to implement measures to benefit companies, such as energy minister Juan Jose Aranguren, who was president of the argentine subsidiary of Royal Dutch Shell from 2003 to 2015.
A pledged reduction of the size of government saw thousands of suspensions and layoffs, only to open the floodgates to Macrist militants hired at much higher wages than the previous, including many who are family members of government officials.
Succeed? How? By borrowing at unprecedented pace, and not to finance growth but just to keep the lights on? By dismantling Argentina's productive sector while opening the doors to imports directly competing with Argentina produce such as apples and carrots?
Oh, but hear how candidly NYT advises Macri to go about:
“Mr. Macri will face his next big test when the government negotiates salary increases with the teachers unions in March...union activists...have organized a nationwide mobilization for late February...hope to paralyze the country, push wages to match current inflation...”
But what those unions believe they are? Push wages to match current inflation???!!!
Come on--you got to tough it up, Mauricio.
Get the police down to the street with orders to kick those subversive union members to oblivion! If you need expertise or devices such as Standard Impact Baton, Irritant Impact Baton, White & Colored Screening Smoke or Irritant, Barricade Penetrating munition, we are just a phone call away.
You got to teach everything to these Argentines.
Reekie,
Feb 15th, 2018 - 06:27 pm - Link - Report abuse 0“Argentina is now governed by a group of CEOs whose main pastime is to implement measures to benefit companies”
You say this like it is a bad thing. Don't companies provide services, jobs and taxes?
“Succeed? How? By borrowing at unprecedented pace, and not to finance growth but just to keep the lights on? By dismantling Argentina's productive sector while opening the doors to imports directly competing with Argentina produce such as apples and carrots?”
And yet (pulled from http://www.thebubble.com/breaking-news-in-argentina/):
- The deficit was lower than expected;
- Argentine industry grew by 1.8% in 2017
- Argentine construction grew by 12.7% in 2017
- The Argentine economy grew by 2.9% in 2017
- Argentine employment grew by 391,000 jobs or 1.9% in Q3 of 2017
Also, according to the NYT article “Inflation has fallen to 25% from 40%, but bringing it down further requires a more courageous policy mix” and yet inflation is expected to be 19.4% in 2018 (MercoPress).
So maybe Macri is doing some things right?
“Get the police down to the street with orders to kick those subversive union members to oblivion!” I see you are inciting violence again.
@ZB
Feb 16th, 2018 - 07:56 pm - Link - Report abuse -1“Don't companies provide services, jobs and taxes?”
Charming. Say, Zaphod: Have you ever heard of “corporate welfare?” I didn't think so.
Could not find your Bubble good news story. But found this one:
“Argentina’s Inflation rate Hits 1.8 percent in January.”
”The first results for January (are in line with those of) 2017, which turned up an annual inflation rate of 24.8 percent. The target for the inflation rate this year is 15 percent.”
But let's take a look at Focus Economics - (Argentine Economy):
Their last, Feb. 13 outlook states:
“...economic growth cooled in the fourth quarter of 2017...industrial production barely increased in December...economic activity lost steam in November.”
(Indeed: the eight months of expansion was a result of public works activity financed with debt--that is, short-term, unsustainable type of growth).
“The deficit was lower than expected,” noted Zaphod, citing Bubble.com information. Really?
“The external sector closed 2017 with the largest trade deficit on record...”
Macri opened the country wide to cheaper imports - his inflation-control strategy did not succeed but is killing small/medium sized companies and obliterating quality job positions.
”Argentina’s widening current account deficit is becoming increasingly worrying, (driving) up the economy’s vulnerability to external shocks...putting additional pressure on the Argentine peso and the country’s ballooning external debt obligations.“
Need to explain?
”Argentine employment grew by 391,000 jobs or 1.9% in Q3 of 2017.“ Really? Let's see:
2014: 7.5 %
2015: 6.6 %
2016: 8.9 %
2017: 8.6 %
https://tradingeconomics.com/argentina/unemployment-rate
”So maybe Macri is doing some things right?” asks Zaphod.
Sure! Macri, who asked Argentines to work Saturdays and Sundays, has taken 64 vacation days since coming to office (not counting weekends).
“I see you are inciting violence again.”
You are pathetic.
“You are pathetic.”
Feb 20th, 2018 - 10:57 pm - Link - Report abuse 0Ad hominem attack. You have lost the argument!
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