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Dollar, prices go up in inflation-ridden Argentina

Friday, October 19th 2018 - 10:18 UTC
Full article 2 comments

The US dollar rose 22 cents against the Argentine peso and closed at a 1 US$/ AR$37.50 parity on Thursday. It was the second day in a row for an upward trend following seven straight slumps. Read full article

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  • Enrique Massot

    ”...controlling the monetary aggregates until achieving substantially low inflation.”

    Minister Dujovne, same as other officials and Mauricio Macri himself, believes in the magic power of words, even at a time when all sectors of the Argentine economy fall apart.

    The Argentines, however, have been exceedingly tolerant and allowed almost three years of honeymoon to a government that has relentlessly eroded their purchase power, while allowing fortunes to be made through financial speculation.

    Such is the scheme of the rich and powerful: to convince the masses of the unwashed to endure poverty now in exchange of a promise of future wellbeing. A future that will be permanently pushed ahead like a desert mirage.

    However, nobody can trick all the people all the time: Since September, opinion polls are attributing a majority vote intention to Cristina Fernandez de Kirchner. Not even the notebook photocopies affair has made the dent on Cristina numbers the government was hoping it would.

    As I said, you cannot keep selling snake oil forever.

    Oct 20th, 2018 - 05:03 am - Link - Report abuse -1
  • shackleton

    A single term of 4 years is nowhere near long enough to put right the damage done during 12+ years of Kirchnerist looting and costly vote-buying. Margaret Thatcher was extremely unpopular - for similar reasons - during her first few years until she was saved by your lot. Britain has a lot to thank Galtieri such an under-rated gentleman - he should have a statue if not in Trafalgar Square, then in Port Stanley. Perhaps Macri should secretly encourage the kelpers to invade Tierra del Fuego, so that he can win a couple more elections? A win-win strategy surely?

    Oct 22nd, 2018 - 06:56 am - Link - Report abuse +1

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