Argentina - Severe inflation?
In layman's terms, can anyone explain why Argentina is facing severe inflation and why their currency continues to devalue?
Thanks
In layman's terms, can anyone explain why Argentina is facing severe inflation and why their currency continues to devalue?
Thanks
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keep printing plus major counterfeit problem = huge supply of pesos = low value = inflation
Plus Christina keeps publishing manipulated inflation data/indexes.
I just read a book that briefly discussed Argentina's situation. It has essentially become a self-fulfilling prophecy; When inflation started, the provinces within the country began issuing their own currencies as well...thus driving the peso's price down even further.
horrible economic leadership from the top down. I live there and it's not so bad if you make dollars, but I really feel bad for the locals. ~25% actual year on year inflation, whereas wages have increased nowhere near this figure. Something will happen in the next year (another devaluation?) - it won't be as bad as 2001 but there will be a correction of some sort.
Damn, it seems you get around.
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