Argentina - Severe inflation?
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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