From Boom to Bust, what will it take to save Argentina from Bankruptcy? | Foreign Correspondent
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- čas přidán 4. 10. 2023
- Argentina was once one of the world’s richest nations but today it’s a country on its knees with annual inflation rates over one hundred percent and forty percent of the population living in poverty.
This week on Foreign Correspondent reporter Carrington Clark travels to the South American nation where the price of a steak is up by seventy percent this year alone and soup kitchens are struggling to meet demand. To make matters worse, the country has been gripped by the worst drought in decades.
With the nation on the verge of bankruptcy, Argentines will shortly elect their next president. The frontrunner, Javier Milei, is a radical libertarian who believes climate change is a hoax and who wants to ban abortion and relax gun laws. He’s also promising to get rid of the central bank, dramatically reduce public spending and replace the peso with the US dollar.
Carrington also visits the lithium triangle in Argentina's northwest where vast quantities of the world’s lithium is located. The area is a modern-day white gold rush and there’s hope mining this rare metal - a vital component of batteries - will help solve Argentina's economic crisis
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My wife's family are Argentineans. We've been there for holidays maybe 20 times over the past 20 years. It's a truly stunning country, with so much abundance of natural resources, and its people are among the warmest people I have ever met. I'm desperately sad for those that have to endure such economic mismanagement. The people deserve better.
Thanks for showing aussies our land 😊
@@ANDREAT08 Andrea, it is sincerely my pleasure. I love so much about your country, and we have traveled quite a lot, but I would like to do so much more. It's just a shame that we only have one life, because there is just so much to see in this world. Argentina will always have a special place in my heart though!
Messi and football is all they need
The people deserve the government they elect. It seems to me Argentina is a very corrupt country. No surprise there, all Latinos countries are corrupt
Thank you for those words, I'm argentinian and I'm deeply sad about my country
As a Brazilian, I really hope our brothers / hermanos from Argentina overcome this challenge and go back to prosperity. Brazil loves Argentina ❤
Is Brazil's current economy in a much better shape than Argentina's? Do you think the future of your country is more hopeful now that Lula is in Office?
@@pinetworkminer8377 yes and no for your question. Inflation in Brazil is much lower. We have a bigger reserve of US dollars, the lack of it being the main problem of Argentinian Economy. But Brazil still struggles with high level of poverty, inequality, higher levels of urban and country violence and hunger. The current government economic policies are not radically different from that of Bolsonaro. At least, the adm of the country is less chaotic.
@@xthia25
brazil's poverty rate is a bit lower than Argentina tho, brazil has 30% and Argentina has 40%
@@pinetworkminer8377
Argentina is better in:
- Less inequality
- Less violence
- Better education system
- Urban cleaning
Brazil is better in:
- Personal wealth
- Industrial power
- Economy with a stronger service sector
- Urban transport
- Markets and stores
but both are poor and thirdworld countries, so don't consider that much
@@pinetworkminer8377 absolutely. Brazil is average, wages are low but compared to Argentina, we're in much better shape. Ever since Lula took the office, future looks bright, at least there's no turmoil like Bolsonaro, inflation is under control. Traveling to Argentina became so cheap that it feels wrong to pay so little and have so much, that's because of the devaluation of peso.
As a half American, half Argentine, who currently lives in Buenos Aires and have experienced life in a few countries, I have never been more grateful for the privileges I have. It breaks my heart to see the elderly/retired people who are homeless and asking for money in the street or collecting cans out of dumpsters because their retirement is not even $100usd per month. Absolutely unacceptable! Argentina is the epitome of how big government, over regulation, and idolatry of politicians leads so unimaginable corruption at every level. May god help this country because it is certain the current government wont.
Guess what, this started long ago before politicians took over, I remember very well when I was a teenager what happened with the economy there, plus I could hear my parents complaining about the destruction of the middle class. My father passed away 25 years ago and my mother 15. This could be new to the youth but is not, sadly.
Why would God help your country or any other country when He already gave all human brains and brawns.
😔😌😌😌😔
I think, If God intended to help humans in every hard situations (or not), then he should have not given us those abilities at all.
@@debmhe4682 god LMAO
American as in United States or America as in Native American🤔
@@Hello-uk5xp or American as someone from the Americas .
Its not easy to see your country fall down more year by year...Argentina is full of proffesionals, good and kind people. we just want to live in peace...
Just keep doing the same thing you have been doing for 70+ years and voting for the Socialists!!!
@@markvolker1145 They enjoy the Drama.
I pray that Argentina will be recovered. I never been there but it seems like a beautiful country. I want to visit someday.
It is a most beautiful country and I pray that Argentina will get through these economic and political crises. Argentinians have suffered for far too long. However, I am not sure that the very right-wing candidate is the person best suited to save Argentina.
If you go Now Is very cheap !!
I'm argentinian, things won't get better. I hope I'll live in Australia some day.
Es un pais hermoso, y de gente amable. Pero conocerlo todo, lleva tiempo. Es inmenso. Saludos. 🇦🇷
im an argentinian who had to emigrate in search of a better life. i miss my home everyday and wish that we will return to our former prosperity. our country is beautiful and so are the people
you should def visit someday :)
God bless Argentina, I’ve met so many Argentinians here in Australia.
lets just hope they dont bring the south american attitude of accepting and allowing corruption and disobeying basic rights and laws. The best part about our immigration system here in australia is thats its riddiculously expensive to come here and you need tens of thousands of dollars to justify a long stay visa. So it helps weed out those who arent going to embrace our way of life here in australia.
Lets learn from the mistakes we made allowing so many indian/asians here with lax immigration laws. Im all for sharing our precious beautiful country with our latina and latin brothers and sisters, but we cant let australia turn into another horrible third world nation.
Whenever I see a politician jumping up and down like a lunatic and shouting simple emotionally charged slogans its a red flag for me.
Yes but that's how he can speak to everyone, that's what the others did (lefts)
Yeah but you don't know what the other ones did, the Maduro like ones.
Exactly. And it's alarming how many people here are falling for that and are uncapable of seeing it as a red flag.
If you listen to his content, it's tough to criticize.
Yeah, that’s what thought. the man is a bigger risk to Argentina than anyone before him.
My wife and I spent 3 months in BA last year when I retired. I've always wanted to travel to the 'Paris of Latin America' and it did not disappoint. The food was fantastic, the arts and music were spectacular and the culture was like no other... very, very unique with a European flare. Public transportation in metropolitan BA (with a population of 15M) put every other country I've been to to shame with the exception of Japan (albeit much, much cheaper). We had 3 sets of friends come visit us during that 3 month period and everyone left a piece of their heart there. I really want to return but will wait until things get better. It was ~60% inflation when I was there (Blue dollar was ~300 peso's to the $1) and now its over 100% inflation and ~1K peso's to the $1???... that's insane. I could live like the 1% but who would want that when 40% of the population now lives in extreme poverty. It's so sad because the people are so proud but defeated due to politics and the poor economy. Argentina/BA is a cultural powerhouse because of the people. The country is one of the poorest in the world now because of antiquated and corrupt politics. It really should be one of the richest.
You don't really need to wait, Argentinian food, wines, natural landscapes and hospitality are as good as ever!
We are doing this in january 2025. we are going this year for 8 days (will be my 4th time) I love Argentina and Buenos aires so much
Tenemos nuevo presidente y nuestra esperanza esta puesta en él.Confiamos aunque sabemos que va ser duro al principio.
@@marm317 Hemos estado observando de cerca. Le deseamos la mejor de las suertes con su nuevo presidente
Ironic. Having such a good public transportation system for a country as Argentina, as you said, is one example of the whole problem. This is basically the country spending more than what is should, creating fiscal deficit and eventually inflation . State eduaction (one of the best in latin america), healt care system, subsidies to services, etc, etc, argentines just cannot afford that.
Have been following Milei as an economist for a while, if anyone can fix that mess it should be someone like him.
I have been to Argentina having met my wife at a tango class in London. It is a magnificent, extraordinary country, full of incredible natural beauty. However, its people are its greatest natural resource. They are educated, chic, and warm (once you get to know them!)....I want it to be in a much better state, than today, and I think that the young people of Argentina can improve on the mistakes of their parents. Good luck Argentina.....the world would be a far duller place without you...
Argentina has the resources and skills to be rich. Governance is the problem. Lithium won't change that.
It's part of the curse of natural resources
governance is the people.. the people is the problem
@@radidov5333 Argentina are poor because they like to be poor. That is why they keep electing the same people to office. Somehow expecting that this time it will be different. That is the definition of insanity. Elect new leaders and try something new.
Lithium income is small nothing compared to oil%gas%gold
Exactly, I'm from Argentina and I hope our lithium won't be sold for peanuts
Great video!
I am argentinian and this video reflects the reality of my country today, in a balanced and neutral way.
You better pray that the US doesn't come and " help " your country, otherwise your country will become slaves like, German, japan and all NATO countries 😂
I understand why many Argentinians would vote for a politics of Dollarization. I cannot get much worse than right now…
Exactly. Inflation is killling everybody and everything.
Used to work w/Argentinians a while ago and they used to tell me how bad things were in their country. You could feel their pain and tell that they truly loved Argentina. Now, I finally get it after watching this documentary. Wow!
Courage to our brothers and sisters from Argentina 🇦🇷 we are with you 🇲🇽 Mexico 🇲🇽
Nel, se merecen lo que les esta pasando. 😂
@@youtubeaccount5356Por qué se lo merecen según tú?
Hola Carrington and as an Argentinean living in Buenos Aires I would like to say it is a very good/accurate and most of all a espectful report. Congrats!!!. I'm proud of my country but very sad and dissapointed about our current situation (I'm 55 years old). I've faced many crises as a child and as an adult and it seems we are always tripping over the same stone. Each new government blames the previous one and does worse one.
As a citizen of uruguay i really feel sad for them.. even after winning world cup they have to live in poverty 😢
Tranquilo amigo ya lo vamos a dar agua a Uruguay 😂
I don't think anything will save Argentina. Mostly because Argentinians themselves don't want it and are not ready to do it. Saving Argentina's economy would mean harsh actions, that will damage people's lives. No politician would be willing to implement that unpopular actions.
Milei is the only choice that can save argentina, he's the only one with a genuine plan, he even stated that if the correct reforms are done, in 35 years argentina will be on USA levels of global economy
You are totally right
Pues el actual Javier Milei lo va a hacer. Con el apoyo de 15 millones de personas que lo votamos.
As an Argentinean, the thing that hurts the most is that the country is run by argentineans. Most people that emigrate end up being successfull, because we are hard workers, but the levels of corruption in all spheres of government is unparalleled in the region.
Somehow after all these years of shitty politics, and more crisis than growth, people still stand.... imagine if we did things right for once...
Corruption is a vicious circle. Very difficult to escape from. No-one wants to pay taxes because they know most of the money will be wasted or stolen and they know that the elite do not pay anything. Everyone ends up deciding they might as well just look after numero uno and damn the common good. Southern Italy has the same problem. Everyone hates corruption there but the people themselves are so inured to the mentality they don't even notice their own behaviour is corrupt too. Things like Vaca Muerta and lithium will be a disaster for Argentina as the elite will be even more desperate to hold on to power so they can loot this wealth. Venezuela is the model.
What is the allure of the "anti-polititian politician "? Do we want anti-teacher tea hers? Do we want anti-medical doctors? How about anti-business businessmen? Political skills are needed. Can someone please explain this phenomenon to me?
Bullrich!!
@@brendanobern7403 the appeal of an anti politician in Argentina is due to the lack of confidence in the politics in the country. Specially when you see the outrageous money they win for doing so little. People are so tired of empty promises, which are never accomplished, then they proceed to blame last government, and so on
@@brendanobern7403 plus Milei is a very skilled politician after all. He just hates politicians
when the system is bad, no amount of natural resources will help lift the country out of poverty and social mess. In fact, rich natural resources will only make the rich and poor disparity more pronounce, and as a result, more social unrest, more injustice, more financial crisis. Build a good system, even if the country lacks natural resources, it will be prosperous.
Natural resources come and go. Once they are gone, social unrest or war follows.
Thanks for writing it eloquently. This reminds me of my neighbouring country, singapore. They have a good system.
No wonder people are running away from this country 😢 if your money can't allow you to buy food!! 100%inflation 😮shocking
The same people that voted the politicians that gave them these issues.
More than 100% prices change all the time, it drives you crazy.
Nobody is running away.
Some people leave. And some people arrive.
It happens in every country.
@@federicostritzler7650 lol, not true. People are trying to get away in mass. Anyone with a EU passport leaves.
@@MSuyay Do you have any prove for that?
.
.
.
.
.
.
.
.
.... guess not 😂
Lithium would be for Argentina, what Oil was for Nigeria, and Venezuela.Argentina spends 60% of its GDP on welfare.Corrupt, inefficient, massive IMF debt obligations.
Nah, Lithium-ion batteries are a terrible idea and will be quickly replaced. By Sodium-ion probably. Argentina should be looking for Sodium deposits...
Why are you making up fake stats? The entire government spending of Argentina is about 36-40% of GDP.
@@salemsaberhagen8926 where did you find that information?
Subsidies can kill a country finances and Argentina is a prime example. It takes a lot of dollars to subsidize, gas, electricity, water, tolls, diesel, gasoline, even rent. Foreign trade with big surplus helps, otherwise the country will print money. Argentina prints money with no solid foundation to back it up. Dollarization of country with no dollars in foreign reserves is a doomsday scenario. The country will vote for someone nicknamed El Loco. what could go wrong.
Great great video!! Argentina's stark reality. Thank you very much for showing to the rest of the world what's going on in my beautiful but empoverished country.
Everything else failed for Argentina. I don’t see dollarization as anything bad. It leads to fiscal discipline. Panama has dollarized and is doing very very well, contre its neighbours.
Panama es putita de eeuu. Ademas tiene su ejercito ahi. En un pais que fue ayudado a otro pais a independizarse obvio que va a progresar si es titere
Panama isn't prospering because of the dollar, they're prospering because the whole world shows up at their doorstep each morning and pays a toll. The politicians will sharply debase the dollar in the next few years to repay the enormous national debt cheaply. Panama and Argentina should use gold as money.
They tried it before with Menem. It ended it catastrophe. Argentina needs to have a successful export economy to earn the dollars it would need otherwise the country will end up in permanent depression. To be competitive would require a huge downward adjustment in real wages to reflect low productivity. What is the old saying? The best way to get rich is to buy an Argentinean for what he is actually worth and then sell him for what he thinks he is worth. That is the root of the problem. Peronism tapped into that mentality.
Sorry .. but compares with Panamá the economy of argentina has a bigger potential... the resources, etc. Maybe you can apply the same method
@@person.X.we have too many regulations on exports, because they need more taxes to pay their overspending. The only one who is clear and consistent in cutting political spending and reducing burocracy is Milei.
No industry, only agriculture and commerce. So the economic structure of Argentina is fragile.
This is great journalism, thanks
I hope you guys get better, amo su país 🇧🇷🇦🇷
🇦🇷🤝🇧🇷
There's a great youtube video from the economist about argentina inflation that I wish someone could include spanish subtitles and run through the social networks for the argentina population. It explains really well why argentina keeps doing the same thing over and over, and they get tge sam results each time.
I agree with comments below, argentinian people deserve better.
I thought it was well known it was in decline for decades..?
Thanks for sharing about Arg. Living in different countries and meeting people from developed countries, the one thing I think consistently is "they can choose to move back home whenever they feel like settling back (i.e Aussies, Germans, Americans), for argentinians it's not an option". I hope it is one day.
Messi just scored 2 goals yesterday. He did it. He saved Argentina. High fives all around
Another inflation over %100 example is right here in Iran. Every other month that I go shopping 🛍️, it gives me a feeling that I’m working for nothing, with prices rising each time at an unreasonable rate. May god help both Argentina 🇦🇷 and us , cause governments ain’t gonna do nothing, that’s for sure 😶🌫️
If Australia keeps going the way it is, we will end up in the same boat.
This story reminds me of the Victorian State government
Thank you and beautiful reporting. I lived in Argentina for years. I know what the people suffer… Beautiful report…
Younger Argentinians are blessed to experience New Zealand and Australia on their working holiday visa… some got even sponsored. But I wish they can recover from this crisis economy.
¿Trabajo y vacaciones? ¡Qué gracioso! Trabajado duro y mal pago.
@@carinajauregui9383 trabajo duro y mal pago es lo que tienen la mayoria de los argentinos en su propio país. O acaso las estadísticas de pobreza e inflación son mentira?
@@panchorr1444 Mal pago sí. ¿Duro? DEPENDE. Si te convocan al otro extremo del mundo no es precisamente para "regalarte vacaciones" Simple sentido común.
Si vos querés probar, avisame después como te fue.
As a Brazilian, I believe that one day Argentina will overcome its inflation crisis, but dollarization is not a magical solution against hyperinflation, as we have overcome hyperinflation here with the "Plano Real" solution.
And Bolivia's gas will run out; in the future, we will have to import gas from Argentina, and lithium could save the country. Don't elect that crazy candidate with bizarre ideology. I wish good luck to all "hermanos" of Argentina for a better future.
So elect the same guys that have destroyed the nation and put 40% in poverty? People like you are the problem, because your allowed to vote.
Agreed. I hope Argentina a bright future and I hope that more American companies that are thinking about leaving China will invest there. Just don't elect that maniac and don't do dollarization.
Milei won.
Down goes the central banksters!!! Libertad!
Listening to those 2 young influencers and their ‘solutions’ made it quite clear that left to the young and their ‘radical’ ideas, Argentina will sink further into the ditch it’s already in.
They're rooting for someone who believes global warming is a hoax, go figure!
I can guarantee those 2 kids are not “leftist” orientated
What a good documentary, I hope Argentina finds a better way.
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank
I'm still on my Argentine holiday, even though I am currently in Montevideo. When I arrived here on 21-SEP-2023, the Dollar Blue Rate was $AR710/$1US. Today 11-OCT-2023, it's $AR1000 to $1US. That's a drop of 29% in three weeks! If this keeps up, there may not be an Argentina much longer.
There will always be an Argentina, just one with many zeros
Why are you using the blue rate?
Isn't that the problem?
lol, so exaggerated
I have been to Argentina in the mid-80s when they were in the grip of severe financial difficulties. I loved the hospitality and the terrific food on offer. It is clear that nothing has changed to help Argentinean people prosper. Either their politicians are completely incompetent or completely corrupt and out for their own gains -- I think it is both. Abandoning the control of the Peso in favor the the US dollar is pure lunacy. "Don't Cry For Me Argentina" has been going on for so many many decades. I hope that the person who closed the video stating that things won't change for 20 or 30 years is wrong.
Lunacy, eh? Would you rather be paid in pesos or dollars? [crickets sounding].
Mas de 80 años con Banco Central y el peso argentino sigue destruyendose, está claro; no servimos para manejar nuestra moneda, la gente vota populistas que financian sus fiestas con emisión monetaria. La unica forma de quitarles ese juguete es dolarizando, la constitución no la respetan y la justicia está coptada por el partido peronista. Está claro que hay que hacer un giro radical y de shock.
@@floxy20 Why not come up with a permanent fix to Argentina's financial woes? Argentina is loaded with natural resources, why can't that work. I think it goes back to the politicians and incompetency. American dollars? That's been tried before and it did not work.
What is the definition of lunacy? Doing the same thing over and over expecting that next time, it will work.
I wish all Argentinean all the best with their new leader! Really I do!
❤❤❤ sending love
As an American, I would strongly advise the Argentinians to not do formal dollarization of their economy. You won't get all the dollars needed to service such a large economy. You would also need to cut all those fuel, food, and other welfare subsidies, which would just exacerbate the situation for low income families. If you are on the verge of bankruptcy every few years from loans serviced in US Dollars because you don't have enough, how on earth will you get enough US Dollars for your entire economy? Stick with the Argentinian Peso, dollarization can only end in catastrophe.
Lmao at comparing trump to common people. He has never ever had to worry about his next meal in his life
It will never happen as it relates to lithium for Argentina. Lithium is all over the place including the United States. Other countries with major oil deposits haven't exploited it as of yet. When they do it's all over for Argentina. They shouldn't bank on that one resource.
Argentina is ahead of the curve on the selloff of its lithium mining concessions. They are literally throwing the kitchen sink to woo foreign investors
And yet , you are right. Oversupply will eventually catch up with them.
It all comes to where cheap money is invested towards, and who are the least environmentally regulated countries on the list with the best mining and transport in place infra structure ….
The usual suspects …..
Argentina
USA
Austrália
Chile
Bolívia
Rússia, maybe ?
Afghanistan ( why would the US wage a 20 year / 2 trillion dollars war on those pile of rocks , after all ? Implement Democracy ? Yeah righ )
They are also going to damage their environment more mining for it.
The bad thing is that this leftist government is giving everything to China in exchange for Chinese currency that no one outside of China and Africa uses, crazy.
God job mr Reporter! 💥👏🏆
I met 3 different Argentina ladies 2 weeks ago at Machu Pichu, Peru. They said it's a good time to visit because of the currency. They must be the rich to be able to travel
My heart breaks for the Argentines. I pray the economic ship is turned around.
Que chulada de pais y mas su gente. Argentina will once again regain their stability!
If Argentina is the 2nd largest economy and it goes bankrupt. Then what will happen to the region?
Good question...😅 too advanced 😂
Have you seen the movie Mad Max?
A country can't go bankrupt. And nothing really has happened, they have their own economies that are stronger than ours. They've actually benefited from our misery.
Argentina is not bankrupt. It has difficult problems.
But not bankrupt.
@@MSuyayif a country imports goods, it needs an acceptable currency and/or currency reserves in foreign currency to pay for them. To build up currency reserves, you need people who are willing to buy your currency with theirs. If you want/ need to borrow money, people have to believe you can pay it back. This isn’t the 1880s when if you defaulted on loans to foreign banks their navy could show up and start shelling your harbors but if you don’t have/can’t get the money to buy the imports you need or pay the government’s bills, you are in a world of hurt and are effectively bankrupt even if there is no legal procedure or way for borrowers to make the government pay what it owes.
Gratitude is not only the greatest of virtues, but the paren't of all the others.
What I don't get is how nice their cities look and how well fed and dressed these people are! Thats not how poor people look
People give a lot of effort into their appearance. In Brazil they were shocked because we didn't shower three times a day like them but only once. :)
@@anitagorse9204i guess, because you were european descendent. European(or at least german) dont shower often. Humidity is low.
@@vonbayernDE You are so right. :) When we were kids we had to come home by nightfall and parents first threwm us in a bathtub because we were so dirty. :) We do shower, but like once a day. French are notorious in the continent for not washing enough. Napoleon Bonaparte wrote to his wife: "Don't wash yourself, I'm coming!"
@@anitagorse9204 i am not sure the weather in argentina, is it humid? When i started studying in Germany, i cant stop myself taking bath in the morning, even during winter(i am a Malaysian). So it is all habit. In Malaysia, we have chinese community, their communities started here in maybe early 1900, but many of them dont take shower in the morning. But i take it as different culture. Hot shower is not common 20 or 30 years ago.
@@vonbayernDE Northern parts of Argentina are very humid; people feel it especially especially in summer. Winters are cooler and easier to breathe. In Europe, totally different story. We've had some students from warmer regions who have kept habit in winter to shower with harsh soaps, even several times per day. Their skin flaked, lips cracked, they developed skin problems...Locals in Europe adapt their shower habits to seasons. Once or twice or even more in summer, once a day washing with soap armpits, private parts and feet or once every two days complete shower in winter. But crucial habit for all people - men included - is to use body lotion, face cream, hand cream, lip balm to protect against dry air, cold and wind. Dry air is both outside and inside because of heating. We don't really sweat in winter. So, foreign students were told they need to get some cosmetics ans use it in cold season. I live in a developed country and washing facilities weren't so advanced as someone would imagine. My mom had a hand pump in the kitchen in her youth and they had to heat water to wash, usually only once a week, on Saturdays. In our old house we had a bathtub with just a basic tap, no shower handle. In the new house we children used bidet to wash our feet and hands because it was lower and easier access for children. Bathtub was small and cramped, but we've had a shower curtain and shower handle. Bathroom got modernized only a decade ago, with modern big corner bathtub and closed corner shower. Now everyone uses only shower. 😀
In this report Milei has been called far-right, radical libertarian, neoliberal, decide damn it
It's the same thing
MILEI!!! LOVE HIM!!! He calls out Pope Francis
😂😂😂😂.. saludos desde mar del plata Argentina 🤗🇦🇷🇦🇷..
You really know things are bad when the bar owner and tango teacher are cutting it.
I don't really feel that sorry for the people who can't afford food. In those neighborhoods they all vote for peronismo. Even when they knew the president was a puppet and he said he had no plan, they still voted for them and have been voting for the sale party that sunk them into poverty for the last 20 years. I've never in my life voted for peronistas and never will. But I still suffer the consequences.
Also the story about the beginings it's not really true. There wasn't the inequality there is right now. They made us all poorer. And my grandparents were working class and suffered a lot under Peron. They said they came here running away from Mussolini and found another one just the same in here.
People get what they vote.
The problem extends to South America as a whole. Argentina's position is very ironic on many levels. For every advantage, there are at least two weird disadvantages that team up to make it complicated. There are ways, but only if they have some really good ideas that are unique to their situation, instead of just always listening to someone else.
Only Venezuela and Argentina have high inflation in south america today, but i get your point.
This is a great video
When the tango teacher addresses the students she says: "alumne" and the report: "alumno". Political brainwashing is what has led them to this situation.
I always think that a country is like any family business, the way you run it decides its prosperity or demise. Let's hope the people will elect with their brains and not their emotions to get the right people to run the country.
@@GotoHere More like 100 years. The socialists have been destroying Argentina for so long now it will take two generations two fix things.
19:15 'we don't trust our own politicians with the money printing press. We feel better when Jay Powell is in charge of it".
As a Brazilian who is from half Austrian-Hungarian Empire origins... I just would like to say the origins of my family. Good day
Thank you ABC for highlighting Indigenous Peoples’ concerns 🙏
This happens when you want to live like a Norwegian but your economy is like Cuba's and your politicians behave like dictators. Argentina is the country that has the most government-supported services. To avoid losing power, politicians give alms to everything and always ask to IMF for more money to continue buying votes.
if single-commodity economies based on oil production couldn't throve, lithium-based economies are equally a dead end. You need more diversity
As a half Argentine, half Brazilian, half Russian, half NYC, half Italian, half Detroit, i feel really bad for them.
mr worldwide!
half troll?
I think you are also half Mongolian
What the hell are you talking about?
shameful... una verguenza...un pais como Argentina tendria que ser una potencia!
Clima change Is here!
ONLY 1/4of The land(south) has The Future.B.Aires must be smaller! IT should shrink,
BUT:All Brasilia come here, because 50°C.
😂😂😂😂😂😂😁😁😂😂😁😂😂😂😁
El pueblo deja mucho que desear también.
Lithium Is not, by rational or comparative standards, rare. Its commercial rarity derives from a lack of commercially viable sources. If we were to put into lithium as much as we do for finding diamonds,we wouldn't know where to put the stuff.
I read, diamond is rare because someone kept most of the stocks off market(in safe).
Lithium is long known as a component in
Lithium has long been known a major component of El Paso's water supply. Their water never outright murdered anyone.
So glad I left the country years ago…
Went there last month, though, and got myself a gargantuan world class dinner for 20 dollars. 😅
Hope the beautiful country of Argentina restores at least part its normalcy and people have a better life. Greetings from the Balkans. Always welcome here!
I was only listening to the first few seconds and I legit thought they were describing Russia when they said currency less than half value.
But then I heard them say latin country.
Or Ukraine whose currency lost three quarters of its value in 2014 under Poroshenko regime.
Ruble lost moe than half, but in a span of several years, even decades. People notice, but the process is slower and less painful. My guess is that inflation in Russia is around 40%.
Argentina is the country that wants to have all the benefits of a rich country like free health care, education and subsidies of all kind without paying taxes (half of working force don't) having at least a month of national holidays or more, being one of the hardest country to invest, import and export, having literally hundreds of taxes of all kind, etc. Basically they want everything without sacrifice, unless is football.
The argentina's problem is that is a catholic country. Catholics countries are most poor (except some exceptions in Europe). I am portuguese but it is obvious protestant countries are much more open to business and capitalism.
It is indeed a cultural problem. They need a shock therapy like Milei
@@tootsie1760 Milei is not the answer. They just will do the problem even worse.
@@Diego-tm3dj Portugal and Spain would be worse than Argentina if they did not have the support of the euro, they would be printing money like crazy and generating inflation.
marvellous video
Despite their struggle to survive It seems like they are not willing to change. I cannot understand that. I'm saying that because of the election. How come they vote for a respresentative of this current government?
Why send a correspondent with such basic Spanish..........Duh! We have plenty of fluent Spanish speakers and journalists in Australia.
Lithium is not rare
It is not the possession of truth, but the success which attends the seeking after it, that enriches the seeker and brings happiness to him.
lo que son algunos comentarios... ta caro pensar?
Dont give up Argentina.....You will rise again
Isn't Venezuela in worse economy condition
Dato curioso: La casa café del minuto 6:12 es en realidad un campo de tiro, por el interior tiene facha de restaurante-bar. Se construyó en la clandestinidad en época la dictadura con fines de entendimiento. Se siente como si fueras a un centro de reclutamiento de espías por lo bien equipada y poco llamativa que luce al exterior
I'm from Argentina, but I've been living in Spain for the last 20 years.
Moving to Spain was the best decision that my family and I could ever make. Sadly, it's also the decision that most Argentinians should take.
Argentina is a country without remedy. It requires a miracle.
May be that miracle is called Milei
@@me2752 I doubt it. First of all, he is not a saint. He speaks too much, but that doesn't mean he will solve anything. Even if somehow he manages to start fixing the economy, he can't fix it in just 4 or 8 years. He needs decades. But the presidents that will come after him will very probably stick to the old bad ways.
@@ivan_0590 true
Are you saying Argentinians should go back to Italy and Germany in failure 😢
@@ANDREAT08I think Argentina can make it if they drop the pesos
I heard that Germany survived at Russian Army, read that England survived to the battle against Lutwaffe, Japan survived to Hiroshima and Nagasaki, Jews survived to Aushitwz, Palestinians exist even the Israel State was created, Russia survived to Napoleon, Ucrania to Chernibyl.
Argentina is in hard times, not the worst I have seen in my life at all.
Argentina will go on to the future. Buenos Aires is full of europeans coming to set in Buenos Aires, right now. Thank you for the video. I suggest you also to make a video of all the europeans that arrived every day to establish in Argentina, the japanese that prefer staying in Buenos Aires rather than get a job in Japan.
wated half of the report on tango, good job
Mucha esperanza!!!! Dios les ayude!!💥👏😞😔
6:55 2200 peso's gets you 2kg of chops, so $9 AUD. In AUS 2kg would be about $35 for the cheap stuff.
Argentine govt heavily subsidises meat though. Like 80-90%. The govt forces its producers to sell to them instead of on the free market and they pay farmers barely enough for them to break even.
9 AUD of meat is 5% of the average monthly wage in Argentina, but 35 AUD of meat is *0.5%* of the average monthly wage in Australia. Doesn't help if meat is 4x cheaper if you earn 20x less.
You can have a great life if you jave income from abroad. If you're stuck with argentinian salaries you're screwed because of how little they pay. It doesn't matter of things are dirty cheap compared to Australia, we still can't afford it.
It's actually $4 at the blue dollar rate, $9 is the official which no one uses lol
Dios lo bendiga Guan, Viva Argentina
Dios bendiga a nuestros amigos Argentinos
I wonder if the Journalist and camera crew tipped in a decent amount of Dinero into Carolina’s hat after the tango lesson,to help her make it through the month....
Haha thats not the point, although a lovely gesture.
@@ANDREAT08 so your basically discount long the fact the Caroline’s time is worth money… How much money is your time worth??
@@paulsz6194 she should get paid property, not tipped. I understand your point.
From the frying pan to the fire
10:48, an interesting statement!
Que tristeza😢
Argentinians will continue to pick the leaders that they have in the past
Please no more!
Take Santiago Abate As Royal Inca
Messi
The two media consultants espousing how the dollar will save them are ignorants. They need to look at how other countries that waded in that territory have fared. Their exports will be negatively affected to name one aspect.
How many countries now supplying lithium? It’s not as rare as it once seemed.
I doubt whether the US federal reserve will ship dollars to Argentina. Even digital dollars are not created out of thin air.
MAGE ARGENTINA GREAT AGAIN... HACER QUE ARGENTINA VUELVA SER GRANDE.. VLLC
when a indigenous guy in the middle of nowhere got more wisdom then a teenager in the center of BS you know the country is done lol
Vamo argentina carajo 🇦🇷
Cantillon effect. Those closest to the supply of money benefit from the printing, those furthest see negative impact from printing.
Exactly what happened in Zimbabwe 🇿🇼 in 2004-2009 and started happening again from 2017.
dollarisation on its own wont help, they need to liberalise the economy full throttle..
there'll be loser and winners but if they stick to it everyone will be fine😮
No its not the same thing Zimbabwe is under Sanctions Argentina has no Sanctions at all despite Argentina 6×size of Zimbabwe, Zimbabwe produced more Gold/Platinum than Argentina with smaller population
@@ambessaseway5594 Did Rhodesia experience hyperinflation in 1964 with UDI and was sanctioned. Did SA experience hyperinflation when it was under apartheid and sanctioned.
Anyway, my point was the symptoms of hyperinflation in both Zim and Argentina are the same, a mistrust of the local currency, hoarding the USD and trying to leverage your produce, reduced business activities due to eroded incomes..
if you're trying to push the sanction narrative for Zimbabwe 🇿🇼 as the sole reason for hyperinflation, then you're as biased as the powers that run the country.