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Argentina Raises Interest Rate to 69.5% ! ! ! Socialism ALWAYS ends like this!

 
No Dhimmi

User ID: 77821206
United States
08/15/2022 07:29 AM

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Argentina Raises Interest Rate to 69.5% ! ! ! Socialism ALWAYS ends like this!
The majority of the nation is unemployed, and the currency is basically worthless. The people can no longer rely on the socialistic promises as the government is unable to fund its programs. Basic necessities are no longer available, and the people are suffering.

After inflation reached 60%, the nation decided to stop printing money entirely. The central bank just voted to raise the benchmark rate by 950 bps to 69.5%. Inflation now sits at 71% after prices rose 7.4% in July.

[link to www.bloomberg.com (secure)]
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Cardiak

User ID: 72929192
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08/15/2022 07:38 AM
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Re: Argentina Raises Interest Rate to 69.5% ! ! ! Socialism ALWAYS ends like this!
Screw that country, worst economic laws for businesses. You owe all employees up to 1 year paid wages if you want to fire them or lay them off making it kill business in down turns. Most business owners just let it collapse and left the country.

Business runs nations not people and the socialists are too stupid to ever get that





GLP