Staunch libertarian Javier Milei has implemented a range of austerity measures since taking office. His government blamed previous administrations for the dire economic situation.
The poverty rate in Argentina reached 52.9% during the first six months of Javier Milei’s government, the national statistics agency reported on Thursday.
It marks the highest poverty rate since 2003, and a 11.2% increase compared to the second half of 2023.
The number of people living in extreme poverty grew by 3 million during the first half of 2024, according to the report.
The statistics agency calculates poverty by comparing household income with the cost of a basic basket of goods, which amounts to around $240 (€215).
Yeah. Even though I think right wing libertarian economics is naive, and guaranteed to fail, blaming this guy for the economy in his first 6 months is likely propaganda. Most economists don’t attribute economic performance to leadership until their own budgets and policies have been in effect for 6-12 months, which often isn’t until the 2nd half of their term. Obviously radical changes can have an immediate impact, but they tend to be rare.
Edit: A linked article states a radical inflationary policy, but provides no references or sources. Journalism fail!
Most world leaders don’t dismantle their entire system with the sense and carefulness of a coked up toddler from day 1.
Add a special animosity towards anything that provides stability and financial security to the country as a whole or any non-rich person and you get dramatic worsening of conditions REALLY fast no matter how bad it already was.
From the other commenters ap article, the economy he inherited was already run by coked up toddlers:
What, in your opinion, should he have done differently? Should he have kept the pre-existing train wreck?
I don’t know enough about the SPECIFIC conditions to know what he SHOULD do, but I don’t have to in order to recognize that the solution to a dysfunctional government isn’t a sledge hammer or any other kind of wanton destruction.
He ran for office dressed as his vigilante alter ego “Captain Ancap” wielding a symbolic chainsaw at the very concept of government while talking about how his top advisers are the clones of his dead dog and that’s exactly how he’s been governing as well.
I mean he made about 300 changes to the government in his first few days so his anarcho capitalist ideology might be the exception to your point.
I mean you don’t have to look far to find credible sources showing what his own adminstration admitted to doing.
Thanks. I was pointing the ridiculousness of journalists stating information — on the fucking internet — without directly linking to evidence. They have a world of sources they could link to, probably that their own company reported on in the past, and that they — as journalists — should have cross referenced before stating that information. Why should consumers have to independently Google pieces of information when the platform can hyperlink to numerous sources for verification?
You see the absurdity in stating information as fact, without sourcing evidence, right? This isn’t fucking Lemmy or Reddit as a source. This is a major news organization, staffed with journalists who completed an entire degree being educated in how to source and reference information…
Sounds like most economists haven’t heard of Liz Truss.
Can verify: am Brit.
Liz truss tried the libertarian experiment, sidestepped the Office for Budget Responsibility that her own party set up so that they were prevented from announcing the forthcoming shitshow (because she correctly thought they would be doom and gloom about it), tanked the economy in less than one week, blamed the media for it, blamed not going far enough for it, blamed the Chancellor of the Exchequer for it, sacked him, said she wouldn’t resign but was famously outlasted by a lettuce.
Now she simps for the republicans but is largely ignored by them. She still maintains she was right, which is par for the course for idiot lying right wingers.