Findeton

I just used the data available in Wikipedia. Instead, if we go to official data from Argentina's INDEC (national institute of statistics) we get a more reliable picture. Here [1] we see they show annual GDP (called PIB in Spanish) in constant prices of 2004 (so, they correct it by inflation). In page 6 you can see this image [2], where you see that yes, GDP hasn't really grown at all since 2011 (which is more than a decade ago). And this is aggregate GDP, but population has grown, so GDP per capita has gone down.

[1] https://www.indec.gob.ar/uploads/informesdeprensa/pib_06_242... [2] https://i.imgur.com/f0pIiFE.png

The fact that economic activity year over year has increased at all (after 7 months with Milei) is just astonishing.

It is astonishing because Milei inherited a deficit of 15% of GDP, so he cut 30% of government spending on the first month to get to fiscal surplus that month. He inherited a broke central bank (-11.8B in reserves) and he's recovered back to -4B (still some way to go). He inherited 50B of debt with exporters (they have "cepo cambiario"/exchange control policies). So even after having to cut down so much, now the economy is starting to recover.

BTW the reason Argentina just can't stand ANY deficit at all is because it creates inflation. It creates inflation because NO ONE loans them money, so the only way to have deficit is to "print money" from thin air.

"Dolar blue exchange rates are sky rocketing and is more then 4x higher then before Milei.."

That is just false. When Milei took over, the dollar blue was at 1188 pesos, and it's now at 1445 pesos. That's an increase of 21.6% after 7 months, not 300%/4x. By the way in the 7 months previous to Milei, the increase was 160%.

And about poverty, it was already at 50% when Milei took over. But obviously if you're left-leaning you might want to avoid mentioning it...

Well, nominal GDP was US $642.5b in 2015 and they haven't recovered yet. And if you measure real gdp (not nominal), even worse. What do you call having lower GDP year after year? I call it recession.

https://en.wikipedia.org/wiki/Economy_of_Argentina

Well, Argentina has been in recession for more than a decade. Now, he's cut 30% of the government spending and... the economy is back to growth.

So, sorry for destroying your Keynesian beliefs.

I'd say you don't know what you're talking about.

Milei cut back government spending by 30% from the first month on (that's a 15% gdp of spending cuts in a month), and achieved fiscal surplus/superavit on that month. Contrary to the (very wrong) keynsian economics, deficit spending doesn't promote economic growth and Milei's measures and results demonstrate that actually having a smaller government with surplus promotes economic growth.

Yes some people might do it by chance. Some other people, they do it by knowledge.

In general hard working prudent value investors are able to beat the index. It's just that those are very few. I mean Buffet has done it for half a century, that's not a coincidence.

Fundsmith for example has beaten the market for a long time (not this year though). I can also mention another Spanish fund that I know: Tercio Capital.

https://markets.ft.com/data/funds/tearsheet/charts?s=GB00B4Q... https://www.finect.com/fondos-inversion/ES0174115057-Cinvest...

In my experience there are too many people that don't want to understand that.

Why is this absurd socialist article here?

Maybe Carpenter himself? Who knows, the fact is that it had a large return on capital, so it's a capitalist success.

A capitalist success ($4m bugdet, $13.4m return).

In Europe almost no building is made of wood, except for decorative floors.

I wish they said that. Unfortunately economists are usually keynsian and prefer to believe that war or burying money create wealth.

A corporation is just an abstraction over a bunch of people. So yes, it does restrict individual freedoms.

I respectfully disagree because that goes against individual freedom. I understand that historically in the US there's been racism but that's no reason to erode individual freedom.

"taxis generally can't refuse transportation to you"

The fact that it happens says nothing about whether it's right or not. In my opinion it's wrong and immoral that taxis can't refuse to service you. But taxis are very regulated in many places. In fact, for example, Uber is illegal in Colombia. And still, despite their legal status, Uber is not only very used in Colombia, but it's also safer than getting a normal taxi.

They were wrong in their supposition. It's part of free market process, asymmetric information.

So create another phone platform and compete.

It's a subjective monopoly. In fact everything is a subjective monopoly. And nothing is.

Some people just like regulating everything.

Monopolies are not a bad thing, except when they are enforced with violence=government.

Fortunately no one forces you to use Apple's products.

So, a normal day in Argentina.

It's not neo. It's liberalism. And it's a good thing, although the world is not dominated by it. Unfortunately.

Sorry I don’t like the current concept of unions that use coercion either through the state law or demonstrations. I’d rather they used private agreements instead of state law.

@toomuchtodo I would say that salaries don’t depend on shareholders at all but on the demand/offer balance of workers for a given job.

You think you are harmed but if you recognized the alternative you wouldn’t be saying that. Countries with higher protections for employees have WAY lower salaries for everyone.

More like 12 months. In 6 months perhaps we’ll be trying to get out of a recession.

Submission is living day to day without proper planning and hoping and praying that things will always be as good as yesterday.

I fully agree with that, it should be a very high priority to have 6 months of savings before you go on holiday or to a restaurant or anything non essential.