Skip to comments.Argentina freezes prices to break inflation spiral
Posted on 02/04/2013 12:26:40 PM PST by LucianOfSamasota
BUENOS AIRES, Argentina (AP) Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.
The price freeze applies to every product in all of the nation's largest supermarkets a group including Walmart, Carrefour, Coto, Jumbo, Disco and other large chains. The companies' trade group, representing 70 percent of the Argentine market, reached the accord with Commerce Secretary Guillermo Moreno, the government's news agency Telam reported.
The commerce ministry wants consumers to keep receipts and complain to a hotline about any price hikes they see before April 1.
Polls show Argentines worry most about inflation, which private economists estimate could reach 30 percent this year. The government says it's trying to hold the next union wage hikes to 20 percent, a figure that suggests how little anyone believes the official index that pegs annual inflation at just 10 percent.
The government announced the price freeze on the first business day after the International Monetary Fund formally censured Argentina for putting out inaccurate economic data. The IMF has given Argentina until September to bring its statistics up to international standards, or face expulsion from the world body in
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As you can see, totalitarian socialism can solve any problem.
There is a spot for these economics geniuses in the Obama Administration.
Did they give out WIN buttons? (Whip Inflation Now)
Brilliant idea. They can replace the inflating prices with product shortages instead.
Why does it seem that Argentina is always having such problems? What is unique to them vs the rest of Latin America?
Hello shortages. You wouldn’t think that even the bimbo old lady of a Argentine “strongman” could be this stupid. She’s almost as stupid as Pelosi but without the Fed and a reserve currency to back her up.
I think I see the problem........
The result will be that, within days, all supermarkets will be empty of any products.
The “Invisible Hand” will always win.
How many times does a leftist have to see it happen?
Price controls = shortages.
They aren’t nearly as bright as they believe themselves to be.
The price controls are to keep the populace sedate.
Once the shortages happen they can blame the producers and then let loose the pent up anger of the populace on them........
And here come the shortages....
Margaret Thatcher - ‘The trouble with socialism is that eventually you run out of other people’s money’
Please delete double post. Thank you
(Yes, I'm approaching geezerhood).
Coming soon to a neighborhood near you.
Gravitational constant of the universe...inflation...a mere snap of the fingers.
Yeah. That’ll work.
Obama is taking notes
Again/still... long videos about the last round in Argentina:
More from back when this happened before (many good lessons here, for US):
The road of good intentions is paved to hell.
Wouldn’t surprise me if the Argies did a second debt repudiation.
We are Argentina waiting to happen. Got water and food and GUNS/AMMO?
They don’t even learn from THEIR OWN history!!!
The ignorance of lefties is amazing.
And everything vanishes from store shelves. They never seem to learn....
No government has the right to interfere with the free market and affect prices in any way. But they do it anyway.
In a few weeks who will they blame the shortages on?
In other words, the Argentinian government is implementing a policy of food shortages for the next two months causing a new black market to flourish. Of course if the Argentinian government really wanted to stop the rise of inflation, they would tighten their money supply just as the US did in 1981. But the only cure for inflation is unemployment.
Me too. I was about ten, and I remember him appearing on TV, somberly announcing his wage and price control plan. In front of him was what looked like the Encyclopedia Britanica.
I remember thinking, "Wow, you must have to be really smart to be the president. Who could understand something so complicated?"
From what I recall Argentina of 2000 was very much like the United states...Storng middle class, right to bear arms, increasingly corrupt and wasteful government which kept borrowing from a central bank owned by the same globalist banking cartel that owns our fed.
I think that in addition to this they pissed off the English globalists with the attempt to take back the Falkland islands. They were simply the first to feel the power of the money changers, a trial run if you will for their long planned attack on the rest of us.
I’m betting ‘stuff’ starts disappearing from store that can be monitored - and that a thriving black market is about to come into being....
I actually think that Ford was one of the better Presidents this nation has had.
Outlawing inflation is similar to outlawing guns - it’s not going to work and bad people will use the confusion to prosper... Fun, fun, fun..
Freezes don't work. Reagan's market based economic growth finally got our inflation tamed, though it will always be around thanks to bad politics and the Federal Reserve.
Germany broke its hyperinflation in the 1920's by temporarily backing its currency with real estate.
I agree. People have been expecting inflation here but, it’s been artificially stifled.
Have you not been to the grocery store lately? Inflation is very much here.
The Argentines are a bunch of Italians, speaking Spanish, pretending to be British. Two out of five PIIGS in there.
Yet they are admired by the Chilean left because of their “higher” standard of living. Any assertion that it is a mirage is met with silent rejection.
Replace high prices with empty shelves. That always works.
Wait until Obama’s income tax increase on the middle class and Obamacare tax penalties begin to bloom in 2014, coupled with hyperinflation that will empty the food shelves and the EBT accounts.
Yep but, the real inflation is coming. They can’t hold it back much longer.
Argentina is just the beginning.
That scares me. To the bone.
Less goods for the same price is still inflation.
Look what is happening right before your eyes and take heed.
You either prepare and stand on your own beholden to no one or you become dependent on others to provide your basic needs and become thier serf. Me I dont want to be beholden to anyone for providing what is needed for me and mine. I certainly dont want to have to kiss some gubberment third class bureaucratic to try and coax some help from them, I dont want some jack booted thug herding me in line and telling me where to stand, sit, eat or sleep. And last but not least I dont want to be shut up in with a bunch of zombies and have to worry about not only trying to get basic necessities but having to fight to keep what I manage to get.
Its your choice you can prep or you can stand around on a bridge waiting for FEMA to bring you a bottle of water, a MRE, a warm banklet and a kiss for your boo-boo and maybe you can even get your picture as you stand there on the national news.
For those who are just starting or are old hands at prepping you may find my Preparedness Manual helpfull. You can download it at:
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who havent started already its time to prepare almost past time maybe. You needed to be stocking up on food guns, ammo, basic household supplies like soap, papergoods, cleaning supplies, good sturdy clothes including extra socks, underwear and extra shoes and boots, a extra couple changes of oil and filters for your car, tools, things you buy everyday start buying two and put one up.
As the LDS say When the emergency is upon us the time for preparedness has past.
Or as the bible says: A prudent man sees danger and takes refuge, but the simple keep going and suffer for it.
NIV Proverbs 22:3
I also like to recomend FReepers ChocoChipCookie Blog The Survival Mom (Please Blog Police let this one slide!) Where you can get lots of useful information like:
There is no greater disaster than to underestimate danger.
Underestimation can be fatal.
Me too - the plan actually made sense to me - when I was 14 years old!
Of course I then went on to live through the rest of the 70s and 80s and learned better.
Prices freezes don’t work so well when there’s nothing on the shelves. Guess Americans will see prices raise here to offset the freezes there. Once again, we get messed over.
Each new ego-maniacal tyrant tries the same old failed policies because each believes he/she is so much smarter and wiser than the failed tyrants who came before them.
You see, the policies didn't fail - it was just a failure of leadership.
But he (or she) is confident they will succeed where lesser leaders have failed.