Archives: December 2026

3 years ago

February 2023

"Argentina is no stranger to economic turmoil, having defaulted on its national debt three times since 2001. Now the country is facing another bout of brutal inflation, with an annual inflation rate of 88 percent reported in October, up from 50 percent in January 2022….In August, when the reported inflation rate hit 78.5 percent, Argentine workers held a mock funeral procession, complete with casket, to mourn the 'death of wages.'"
Mike Riggs
"Argentina's Inflation Crisis"

Argentina's Inflation Crisis

24 years ago

December 2002

"Late last year, Argentina plunged into political turmoil as the economy collapsed, the president fled, and angry citizens rioted, at one point storming Congress and looting the legislature's furniture. One can scarcely blame the rioters: The Argentine government, long enmeshed in crony capitalism, had been looting the citizens' wealth for much longer. In 1998 its policies plunged the country into recession, and its economy is showing no signs of a recovery. Since then, the outside world has been generous with detailed plans for reform. But even as Argentina's rulers contend with competing schemes, of domestic origin as well as foreign, ordinary Argentines are enacting reforms of their own, building parallel institutions to fill the void left by the collapsing state."
Jesse Walker
"Argentine Revolution" … [Subscribe to continue reading]