Good to hear that people are rallying to a balanced budget, a smaller government and some promise keeping.
I asked CoPilot (ChatGPT apparently doesn't have access to this data), about the prices of a Big Mac, a basket of groceries (bread, ricel, pasta, flour, meat, fish, eggs, legumes, milk, cheese, yogurt, fruits and veggies, coffee, tea, juice, basic cleaning supplies and personal care products), and a liter of gas.
The Big Mac changed on average of 1.27% a month between January 2023 (when we were last there) to August of 2024. High of 1.43% in Jan 2023. To low of 1.14% in August of 2024. $3.55 USD, to $4.45 USD in that time.
The basket of groceries went from $550 USD in Jan 2023, to $740 USD in Aug 2024. According to CoPilot. $10 USD a month. An average change of 1.57% over the entire period of time.
When I asked CoPilot what the average Buenos Aires wage was it came back with $626 USD a month. I then asked it how could anyone in Agentina afford a basket of groceries at $740 USD a month when the average wage was less than that. It replied with "Good question!" and reverted to the canned answer of multiple income sources, savings or financial assistance. An answer you might use pertaining to any country these days.
Finally, the price of gas. It was $0.82 USD a liter in January 2023. It now sits at $4.90 a liter. Biggest jump was in May of 2024 when it went from $0.98 a liter to $4.30 a liter. A 338% jump, month to month and a 19.48% increase over that period of time.
When I asked CoPilot why the big gas price increase in May of 2024, it replied that the government had removed fuel subsidies and made an adjustment in tax rates, which was the big reason for the jump in prices at the pump.
I personally got 3.1% cost change of those 3 items (Big Mac, Gas, Basket of Groceries) during the month of August 2024 vs the Argentina's number of 2.1%. Funny how even the underdog will skew numbers in their own favor, when given the chance (likely leaving gas prices out of the equation as May's numbers would have been WILDLY skewed by gasoline alone).
So while there is hope, there is and will be, a lot of pain for the poor folks of Argentina.
Let's also hope, that Milei stays away from the lure of the military industrial complex, as Dillon mentioned in his post and link to McMaken's article.
Crazy that the inflation tax just seeps into everything… and that those who claim to care about those most impacted by rising prices remain willfully ignorant to its corrosive nature.
I’m often taken aback when visiting the US at just how expensive everything there has become. No way cumulative inflation during this administration is anything close to the ~22-23% their bean counters claim. More like double would be my guess.
And yes, we’ll have to keep a close eye on any goose step to the militaristic right down here. Unfortunately, it’s a well trodden path in this part of the world.
Sorry Joel, but with well over 100,000,000 democrats sucking off the government/tax payers tit, the free feast will continue until it doesn’t. Then we will contend with 100,000,000 democrats destroying the third world shitholes they created. Should be fun to watch from a distance 🤔
Thanks, Dillon. I’m keeping an eye on this, too. No reason for the (anyways broke) Argentine government to be siding with NATO’s many and costly military misadventures abroad. Best to mind their own business. More Notes to come on that front in future. Cheers!
I read the article, and it was a bit surprising. But, I can see why Milei would want to side with the western world. Bad as it is here, Trump still hasn't fallen off one of his skyscrapers.
La Libertad Avanza or LLA. In Spanish, this would be pronounced "ya", with slight variations depending on the local accent. But in Spanish, "ya" means "already", which might also resonate with the Argentinos who are already seeing the benefit of Milei's chainsaw.
Is it going to have to get as bad for us as it was for them before we also take to the streets to shout, "YA Basta!"? or "Already enough!"
Hopefully, the Argentine press will keep it simple by exposing any elitist attempt to undermine Milei's promise to his constituents and to his country. Has their constitution clearly defined freedom? Will the Fourth Estate do its job and protect the people? We here in America know firsthand what an unwatched elected government can do to a country's heart and soul. Freedom is hard work and can never be taken for granted by the electorate. In fact, it is harder to stay free than it is for the freely elected representatives to enslave their electors. So, Mr. Bowman, get to work! You do not have to convince the rest of the world that Argentina is on the right track; you have to convince the citizens that THEY are responsible for keeping it there. Melei works for them, not any particular interest group. As the US has taught me, being free is hard work but, alas, we got lazy.
That's why I'd like to hear your take on this piece by Ryan McMaken.
I'm certainly no expert, but based on everything I've seen and heard Milei strikes me as a guy who's governing as a pretty strict Libertarian. Thus, I'm reflexively skeptical that any military spending he might be proposing is quite as bad as McMaken suggests.
DEAR JOEL, I HAVE PAID MY ASSISTANT NOT LESS THAN FOUR TIMES TO SUBSCRIBE TO YOUR SUBSTACK. EACH TIME WE GET A CARD REJECTED MESSAGE. THIS SAME CARD HAS BEEN ACCEPTED BY AT LEAST FIVE OTHER SUBSTACK WRITERS. HOPE TJIS INFO IS HELPFUL. IS THERE ANYTHING YOU CAN DO FROM YOUR END? SINCERELY, LIAM, AT LIAM'S LADDER
Joel, I enjoy your mastery on the English language. Your reports always include a written jewel, or two sometime more. "Snouts in the trough" is today's jewel.
It reminded me of a statistic I recently ran across that stated that for every US employee there is someone not working.
This statistic helped me understand why my local and my country government had to use bill boards to entice area residents to apply for their cushy jobs.
Local employers blame the plethora of inflation adjusted benefit programs for destroying the work ethic. Another example of too many snouts in the trough
Good to hear that people are rallying to a balanced budget, a smaller government and some promise keeping.
I asked CoPilot (ChatGPT apparently doesn't have access to this data), about the prices of a Big Mac, a basket of groceries (bread, ricel, pasta, flour, meat, fish, eggs, legumes, milk, cheese, yogurt, fruits and veggies, coffee, tea, juice, basic cleaning supplies and personal care products), and a liter of gas.
The Big Mac changed on average of 1.27% a month between January 2023 (when we were last there) to August of 2024. High of 1.43% in Jan 2023. To low of 1.14% in August of 2024. $3.55 USD, to $4.45 USD in that time.
The basket of groceries went from $550 USD in Jan 2023, to $740 USD in Aug 2024. According to CoPilot. $10 USD a month. An average change of 1.57% over the entire period of time.
When I asked CoPilot what the average Buenos Aires wage was it came back with $626 USD a month. I then asked it how could anyone in Agentina afford a basket of groceries at $740 USD a month when the average wage was less than that. It replied with "Good question!" and reverted to the canned answer of multiple income sources, savings or financial assistance. An answer you might use pertaining to any country these days.
Finally, the price of gas. It was $0.82 USD a liter in January 2023. It now sits at $4.90 a liter. Biggest jump was in May of 2024 when it went from $0.98 a liter to $4.30 a liter. A 338% jump, month to month and a 19.48% increase over that period of time.
When I asked CoPilot why the big gas price increase in May of 2024, it replied that the government had removed fuel subsidies and made an adjustment in tax rates, which was the big reason for the jump in prices at the pump.
I personally got 3.1% cost change of those 3 items (Big Mac, Gas, Basket of Groceries) during the month of August 2024 vs the Argentina's number of 2.1%. Funny how even the underdog will skew numbers in their own favor, when given the chance (likely leaving gas prices out of the equation as May's numbers would have been WILDLY skewed by gasoline alone).
So while there is hope, there is and will be, a lot of pain for the poor folks of Argentina.
Let's also hope, that Milei stays away from the lure of the military industrial complex, as Dillon mentioned in his post and link to McMaken's article.
Crazy that the inflation tax just seeps into everything… and that those who claim to care about those most impacted by rising prices remain willfully ignorant to its corrosive nature.
I’m often taken aback when visiting the US at just how expensive everything there has become. No way cumulative inflation during this administration is anything close to the ~22-23% their bean counters claim. More like double would be my guess.
And yes, we’ll have to keep a close eye on any goose step to the militaristic right down here. Unfortunately, it’s a well trodden path in this part of the world.
Interestingly enough, and depending upon which AI and which set of data you are looking at, you are right on at least one of those counts.
Between Jan 2020 and April 2024 in the USA (Claude AI's range of knowledge).
Big Mac prices went up 2.47%
Gas Prices went up 45.71%
Basket of Groceries went up 23.70%
Between Jan 2020 and August 2024 in the USA (CoPilot's AI's range of knowledge).
Big Mac prices went up 23.72%
Gas Prices went up 46.67%
Basket of Groceries went up 42.78%
Between Jan 2020 and August 2024 in the USA (ChatGPT AI estimated the prices as it did not have access to pricing databases).
Big Mac prices went up 12%
Gas Prices went up 34.62%
Basket of Groceries went up 20%
So someone's not telling us the truth. LoL.
Sorry Joel, but with well over 100,000,000 democrats sucking off the government/tax payers tit, the free feast will continue until it doesn’t. Then we will contend with 100,000,000 democrats destroying the third world shitholes they created. Should be fun to watch from a distance 🤔
Ryan McMaken has written an interesting piece saying Milei is just another war monger that’s not to be trusted https://mises.org/mises-wire/milei-wants-more-government-spending-military-course
Thanks, Dillon. I’m keeping an eye on this, too. No reason for the (anyways broke) Argentine government to be siding with NATO’s many and costly military misadventures abroad. Best to mind their own business. More Notes to come on that front in future. Cheers!
That's a crazy story. Thanks for the link.
I read the article, and it was a bit surprising. But, I can see why Milei would want to side with the western world. Bad as it is here, Trump still hasn't fallen off one of his skyscrapers.
Sounds like he wants the militaries support. History repeats...
This is insane. Who would Argentina deploy new fighter jets and tanks against, Uruguay....?
Keep up the good work Sir.
Thank you for following along! Feel free to share with those voting right, left and (especially) none of the above. Cheers.
La Libertad Avanza or LLA. In Spanish, this would be pronounced "ya", with slight variations depending on the local accent. But in Spanish, "ya" means "already", which might also resonate with the Argentinos who are already seeing the benefit of Milei's chainsaw.
Is it going to have to get as bad for us as it was for them before we also take to the streets to shout, "YA Basta!"? or "Already enough!"
Hopefully, the Argentine press will keep it simple by exposing any elitist attempt to undermine Milei's promise to his constituents and to his country. Has their constitution clearly defined freedom? Will the Fourth Estate do its job and protect the people? We here in America know firsthand what an unwatched elected government can do to a country's heart and soul. Freedom is hard work and can never be taken for granted by the electorate. In fact, it is harder to stay free than it is for the freely elected representatives to enslave their electors. So, Mr. Bowman, get to work! You do not have to convince the rest of the world that Argentina is on the right track; you have to convince the citizens that THEY are responsible for keeping it there. Melei works for them, not any particular interest group. As the US has taught me, being free is hard work but, alas, we got lazy.
Love reading all your Milei news.
That's why I'd like to hear your take on this piece by Ryan McMaken.
I'm certainly no expert, but based on everything I've seen and heard Milei strikes me as a guy who's governing as a pretty strict Libertarian. Thus, I'm reflexively skeptical that any military spending he might be proposing is quite as bad as McMaken suggests.
But then...perhaps I'm deceived?
https://mises.org/mises-wire/milei-wants-more-government-spending-military-course?utm_source=MI+Subscriptions&utm_campaign=dc1d4d6081-EMAIL_CAMPAIGN_2024_02_29_06_22_COPY_01&utm_medium=email&utm_term=0_-0aec14e5f3-%5BLIST_EMAIL_ID%5D
FORGIVE CAPS---ALMOST BLIND
DEAR JOEL, I HAVE PAID MY ASSISTANT NOT LESS THAN FOUR TIMES TO SUBSCRIBE TO YOUR SUBSTACK. EACH TIME WE GET A CARD REJECTED MESSAGE. THIS SAME CARD HAS BEEN ACCEPTED BY AT LEAST FIVE OTHER SUBSTACK WRITERS. HOPE TJIS INFO IS HELPFUL. IS THERE ANYTHING YOU CAN DO FROM YOUR END? SINCERELY, LIAM, AT LIAM'S LADDER
BY HIS ASST., MS
Joel, I enjoy your mastery on the English language. Your reports always include a written jewel, or two sometime more. "Snouts in the trough" is today's jewel.
It reminded me of a statistic I recently ran across that stated that for every US employee there is someone not working.
This statistic helped me understand why my local and my country government had to use bill boards to entice area residents to apply for their cushy jobs.
Local employers blame the plethora of inflation adjusted benefit programs for destroying the work ethic. Another example of too many snouts in the trough