My two cents even tho I'm afraid this thread might become a political battleground:
I'm from Argentina and 30 years old, of course he led us to a recession but for the first time in my adult life I can keep prices in my head and I know next month they'll be pretty much the same. Some people who never experienced +10% inflation in a month can't even imagine that and I understand it. I for one like this stability, dunno.
Regarding your second paragraph, I work for a US company as well and I've been dealing with the mess that is just getting your hard earned money here. Only few people are aware that we still are mandated to change our dollars for pesos at the rate that the government says. Of course nowadays it's not that bad because that rate is almost the same as the one you get in the famous "cuevas", the black market exchange places. But in 2022-2023 sometimes the difference between those two were almost 100%. So you had to deal with tons and tons of cash, it was a nightmare.
There’s a saying: “In Argentina, everything changes every day, but if you come back after ten years, nothing has changed.” In your case, you were born around 1994. Until you were about six years old, if you went to the supermarket with your family, you could probably keep track of prices in your head. By the time you were 16, the inflation rate was likely double what it is now. If you ask someone at ~70 years old they will tell you similar stories about cycles of high and "stability".
I don't think so because except for the 90s Argentina had inflation since the 1950s[0]. That 70 years old would only remember the 90s as the most stable period. Sure, the 60s weren't that bad but we still had high inflation.
First, it is important to highlight for people no familiar with Argentina that the current yearly "Milei" inflation is above 40% and it could be difficult to go much below. This inflation takes into account a very basic basket. The current inflation is very high and the country is in a recession. This is just a macroeconomic measure beyond Milei and its legacy.
Then, sorry, you are mistaken about historical inflation rates and you can check that easily [1]. Comparing just one year of government inflation as a data point is not enough to extrapolate, and I haven't started talking about carry trade that gives investors more than 10% per month in USD. Last time that happened, just two governments ago and with
The same guy, there was a crash one day.
I'm from Argentina and 30 years old, of course he led us to a recession but for the first time in my adult life I can keep prices in my head and I know next month they'll be pretty much the same. Some people who never experienced +10% inflation in a month can't even imagine that and I understand it. I for one like this stability, dunno.
Regarding your second paragraph, I work for a US company as well and I've been dealing with the mess that is just getting your hard earned money here. Only few people are aware that we still are mandated to change our dollars for pesos at the rate that the government says. Of course nowadays it's not that bad because that rate is almost the same as the one you get in the famous "cuevas", the black market exchange places. But in 2022-2023 sometimes the difference between those two were almost 100%. So you had to deal with tons and tons of cash, it was a nightmare.