Reuters
Argentina’s monthly inflation rate in May was the lowest since 2022, official data showed on Thursday, cooling for the fifth straight month to 4.2% amid a tough austerity drive by libertarian President Javier Milei.
The month-on-month rise in prices was Argentina’s smallest since the start of 2022, below forecasts of a 4.9% increase and down from a peak over 25% in December.
Annual inflation also slowed for the first time since the middle of last year, coming down off an April peak to clock in at 276.4%, still among the highest rates in the world. More
The winning formula is less government, less debt, more free enterprise. Here
Somebody tell joek
He cut government jobs bigtime. We need to do the same, start with the FBI, ATF, Education department, and all the top of all agencies in D.C.
I could not be more delighted for Argentina (where I spent three years as a youngster age 10-12) and for President Milei. ¡Bien hecho!
It’s particularly gratifying to see such success from the uncompromising application of Misesian Austrian Economics principles. Praxeology rules!
The free market always wins. Just ask Adam Smith.
Just saw a lengthy interview with Milei. The lady interviewer wanted to linger over the subject of “the poor” and asked repeatedly (and in the acusatory tone we all recognize) what he was doing for those who cannot afford food. As Milei tried to explain the effects of lowering their inflation and the hardships that are inherent in reversing the socialist corruption which caused the poverty to begin with, it was evident the interviewer struggled to understand. She was too eager to spout the “devil you know, versus the devil you don’t” talking points. It reminded me that when Moses brought the Jewish slaves out of Egypt there were those who preferred to remain enslaved, and stayed where they were.
Milei is thoroughly enjoyable to watch and listen to! He hates socialism/communism with a white hot passion and all his disgust with it registers, full-blown, on his face and in his speech.
Anyone else see his Davos speech?
The only business sector in Argentina that will suffer are barber shops.
Assuming Milei will have a JFK like-affect whose sartorial style did not include hats, I expect if Milei keeps the good will of the Argentinian population, long unruly hair will make a comeback.