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Argentinas gdp is under $500 million usd. That’s a large American city like metro Atlanta. Their currency is likely not traded outside its borders much if at all.
Rapid inflation pressures are cooling. The long-term trend of energy, especially oil and gas, is higher. Those commodities will continue to impact all the goods and services that they touch. Climate change and its impact on housing, food production, insurance, etc., will also have inflationary components. However, economic growth will adjust to these changing factors and new technologies will emerge that will help stabilize our economy. Unlike Argentina, the US is a global leader that is integrated into world economies and its policy leaders, financial institutions and businesses both within and outside the US, have a vested interest in keeping dangerous levels of inflation under control.
Inflation is not the problem . Fiat currency is not the problem. Just move savings into assets.
Here is a list of the problems:
- American citizens failure to understand money
- corrupted government
- printing money to transfer wealth to cronies
- printing money for wars desinged to launder money( there is a in prison called Assange for pointing this out)
- controlled inflation and then controlled deflation
The banksters used to print money and rehypothecate gold and silver and did the exact same thing corrupted governments do. No system is going to automatically prevent it. A fire arm is a weapon. Its not good or bad. You need to know how it works, where it is pointed and why its is being pointed there. Right now, its probably pointed at you, and you voted for it.
"Fiance is the gun , politics is knowing when to pull the trigger." Godfather 3
Argentinas gdp is under $500 million usd. That’s a large American city like metro Atlanta. Their currency is likely not traded outside its borders much if at all.
You are off by a factor of about 1000 - the GDP of Argentina is about $480 Billion, not millions. Their GDP is right about the level of the average for all states which is $470B. Argentina has about the same GDP as Maryland. Argentina is most definitely participating in the world economy and trade.
But really ridiculous comparison - there inflation is a factor of 30 to 40 times higher than what it is in the US and their overall economy is about 2% of that of the US.
You are off by a factor of about 1000 - the GDP of Argentina is about $480 Billion, not millions. Their GDP is right about the level of the average for all states which is $470B. Argentina has about the same GDP as Maryland. Argentina is most definitely participating in the world economy and trade.
But really ridiculous comparison - there inflation is a factor of 30 to 40 times higher than what it is in the US and their overall economy is about 2% of that of the US.
And there is again more talk of moving toward the USD as a/or the national currency.
Argentina was once one of the largest economies. Like the US, they are large, free and have many resources and produce far more food than they consume. But they fell in love with highly regarded labor/working class at all costs. They were never communist, but the Peronist era was popular and took them too far to the left and the country became deeply indebted and on multiple occasions has defaulted on their loans.
An example of Peronist anti-capitalism is that most countries encourage exports to trade with other countries. Argentina, with a surplus of agricultural output actually has a very high export tax instead. In 2020 they even banned the export of maize, a principle crop, in the bizarre hope that farmers would continue to raise crops at a loss and there may be some inflation relief on food. Instead, land, which is usually a great place to be in inflation, saw prices drop dramatically as there was no crop to be produced that could be profitably sold.
Despite failing the country for decades, the Peronists won't quit destroying the country. There is so much potential in Argentina that when the country briefly elected a moderate right leader for a couple years, billions of fresh debt was allowed to be sold, including some laugable 100 year bonds, to the country that has defaulted perhaps 5 times in the past 100 years.
While capitalism works best with a counterbalance, this is why you can't afford socialism long term. It destroys everything. Look how rich Venezuela used to be.
Inflation is not the problem . Fiat currency is not the problem. Just move savings into assets.
Here is a list of the problems:
- American citizens failure to understand money
- corrupted government
- printing money to transfer wealth to cronies
- printing money for wars desinged to launder money( there is a in prison called Assange for pointing this out)
- controlled inflation and then controlled deflation
The banksters used to print money and rehypothecate gold and silver and did the exact same thing corrupted governments do. No system is going to automatically prevent it. A fire arm is a weapon. Its not good or bad. You need to know how it works, where it is pointed and why its is being pointed there. Right now, its probably pointed at you, and you voted for it.
"Fiance is the gun , politics is knowing when to pull the trigger." Godfather 3
Inflation is just the head-fake before the hyper-deflationary slam-dunk. What should have happened in 2008 will happen at some point- and there is no escaping it. We will see a wave of gargantuan debt defaults that will happen so quickly that the central wankers will not even have time to print.
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