Argentina’s crumbling economy

Riots, looting, blackouts and soaring inflation. Mary O’Grady explains the sorry state of the country after 10 years of kirchnerismo,

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Argentina’s Crumbling Economy
Officially, inflation is 10.5%, but skeptics think it’s much higher. Capital flight is accelerating.

Argentina’s implied annual inflation rate is close to 50%/year.

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5 Responses to “Argentina’s crumbling economy”

  1. Thomas Phelan Says:

    Being an American who has lived in Argentina for five years and own vineyards, I feel Mary’s title is inflammatory. There are not blackouts and “riots” everywhere.

    I request that Mary substantiate her claim to an annual 50% inflation because unless she substantiated her figures, like the Argentine stats, she provide nothing more than fiction.

  2. Tim Says:

    So Thomas please explain this head line form an major European newspaper “Argentinian looting spreads amid police strikes – Five dead as at least 19 of 23 provinces hit by mobs taking advantage of police forces demanding pay rise to match inflation”?
    http://www.theguardian.com/world/2013/dec/10/argentinian-looting-spreads-police-strikes

    It not hard to find plenty of reports to match what Mary is saying.

  3. Alex Disner Says:

    Thomas, you lived there, but you are not there now. My mom and dad are living in Argentina right now, and they suffered riots, blackouts, days without tap water, they can’t go out at night because is unsafe, and the corruption is running rampant. Next time you go to check your land, open your eyes to the real world, not only Mendoza or San Luis.
    Or maybe you are just another Kirchner’s friend.

  4. somercet Says:

    Mr Phelan;

    Very American are you. What is your age? And how long are you speaking English?

  5. Fausta Says:

    Regarding the 53% Implied Annual Inflation Rate, see the Troubled Currencies Project methodology here.