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Argentina freezes prices to break inflation spiral
Associated Press ^ | February 4, 2013 | ALMUDENA CALATRAVA

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

(Excerpt) Read more at start.toshiba.com ...


TOPICS: Culture/Society; Foreign Affairs; Government; Philosophy
KEYWORDS: socialism
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President Cristina Fernandez and her economy minister, Hernan Lorenzino have also announced plans to decree a new gravitational constant and to revise (downwards) the speed of light in a vacuum.

As you can see, totalitarian socialism can solve any problem.

1 posted on 02/04/2013 12:26:48 PM PST by LucianOfSamasota
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To: LucianOfSamasota
If only other smart people had thought of that through the ages, we would never have had inflation! (hits self on side of head!).

There is a spot for these economics geniuses in the Obama Administration.

2 posted on 02/04/2013 12:29:41 PM PST by Defiant (If there are infinite parallel universes, why Lord, am I living in the one with Obama as President?)
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To: LucianOfSamasota

Did they give out WIN buttons? (Whip Inflation Now)


3 posted on 02/04/2013 12:29:40 PM PST by Ruy Dias de Bivar (Click my name! See new paintings!)
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To: LucianOfSamasota

Brilliant idea. They can replace the inflating prices with product shortages instead.


4 posted on 02/04/2013 12:31:15 PM PST by thackney (life is fragile, handle with prayer)
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To: LucianOfSamasota

Why does it seem that Argentina is always having such problems? What is unique to them vs the rest of Latin America?


5 posted on 02/04/2013 12:31:50 PM PST by Paradox (Unexpected things coming for the next few years.)
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To: LucianOfSamasota

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.


6 posted on 02/04/2013 12:33:42 PM PST by Stentor (Shhhh!)
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To: LucianOfSamasota
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.

I think I see the problem........

7 posted on 02/04/2013 12:34:17 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: LucianOfSamasota

The result will be that, within days, all supermarkets will be empty of any products.


8 posted on 02/04/2013 12:35:02 PM PST by 353FMG ( I refuse to specify whether I am serious or sarcastic -- I respect FReepers too much.)
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To: LucianOfSamasota

The “Invisible Hand” will always win.


9 posted on 02/04/2013 12:35:20 PM PST by dfwgator
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To: thackney

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.


10 posted on 02/04/2013 12:35:37 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: LucianOfSamasota
Why not it always works out so well!

On Wednesday, Zimbabwean shoppers walk past empty supermarket shelves in Harare, where a price freeze is resulting in shortages.
11 posted on 02/04/2013 12:38:37 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: MrB

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........


12 posted on 02/04/2013 12:38:42 PM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; ...

Preppers’ PING!!


13 posted on 02/04/2013 12:41:15 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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Comment #14 Removed by Moderator

To: LucianOfSamasota

And here come the shortages....


15 posted on 02/04/2013 12:42:24 PM PST by Tzimisce (The American Revolution began when the British attempted to disarm the Colonists.)
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Comment #16 Removed by Moderator

To: LucianOfSamasota

Margaret Thatcher - ‘The trouble with socialism is that eventually you run out of other people’s money’


17 posted on 02/04/2013 12:42:50 PM PST by Liberty Valance (Keep a simple manner for a happy life :o)
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To: Kartographer

Please delete double post. Thank you


18 posted on 02/04/2013 12:43:45 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: Ruy Dias de Bivar
I actually remember Nixon announcing his wage/price freeze

(Yes, I'm approaching geezerhood).

19 posted on 02/04/2013 12:46:50 PM PST by P.O.E. (Pray for America)
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To: LucianOfSamasota

Coming soon to a neighborhood near you.


20 posted on 02/04/2013 12:51:06 PM PST by SampleMan (Feral Humans are the refuse of socialism.)
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To: LucianOfSamasota
President Cristina Fernandez and her economy minister, Hernan Lorenzino have also announced plans to decree a new gravitational constant and to revise (downwards) the speed of light in a vacuum.

Gravitational constant of the universe...inflation...a mere snap of the fingers.

21 posted on 02/04/2013 12:53:29 PM PST by Dahoser (Separation of church and state? No, we need separation of media and state.)
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To: LucianOfSamasota

Freeze Prices.

Yeah. That’ll work.


22 posted on 02/04/2013 1:03:12 PM PST by Uncle Miltie (Of the government, by the government, and for the government.)
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To: LucianOfSamasota

Obama is taking notes


23 posted on 02/04/2013 1:03:45 PM PST by driftdiver (I could eat it raw, but why do that when I have a fire.)
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To: Dahoser

Again/still... long videos about the last round in Argentina:

http://www.youtube.com/watch?v=rH6_i8zuffs


24 posted on 02/04/2013 1:03:45 PM PST by elpinta (Jer. 10:23 - It really holds true!)
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To: All

More from back when this happened before (many good lessons here, for US):

http://ferfal.blogspot.com/


25 posted on 02/04/2013 1:06:14 PM PST by elpinta (Jer. 10:23 - It really holds true!)
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To: LucianOfSamasota
This will cause a famine in Argentina.

The road of good intentions is paved to hell.

26 posted on 02/04/2013 1:07:31 PM PST by dancusa (Molon Labe)
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To: LucianOfSamasota

Wouldn’t surprise me if the Argies did a second debt repudiation.


27 posted on 02/04/2013 1:08:20 PM PST by Zhang Fei (Let us pray that peace be now restored to the world and that God will preserve it always.)
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To: LucianOfSamasota

We are Argentina waiting to happen. Got water and food and GUNS/AMMO?


28 posted on 02/04/2013 1:15:34 PM PST by Marcella (Prepping can save your life today. Going Galt is freedom.)
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To: LucianOfSamasota

They don’t even learn from THEIR OWN history!!!

The ignorance of lefties is amazing.


29 posted on 02/04/2013 1:16:24 PM PST by bolobaby
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To: LucianOfSamasota

And everything vanishes from store shelves. They never seem to learn....


30 posted on 02/04/2013 1:16:34 PM PST by Kozak (The Republic is dead. I do not owe what we have any loyalty, wealth or sympathy.)
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To: LucianOfSamasota

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?


31 posted on 02/04/2013 1:18:47 PM PST by I want the USA back (Liberalism is the irreparable breakdown of the mind's ability to reason.)
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To: LucianOfSamasota
Argentina announced a two-month price freeze on supermarket products Monday in an effort to break spiraling inflation.

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.

32 posted on 02/04/2013 1:20:36 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: P.O.E.
I actually remember Nixon announcing his wage/price freeze

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?"

33 posted on 02/04/2013 1:21:34 PM PST by St_Thomas_Aquinas
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To: Paradox
One of our very own survived the 2001 collapse and wrote this excellent book about it.

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.

34 posted on 02/04/2013 1:23:04 PM PST by SENTINEL (Kneel down to God. Stand up to tyrants. STICK TO YOUR GUNS !)
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To: LucianOfSamasota

I’m betting ‘stuff’ starts disappearing from store that can be monitored - and that a thriving black market is about to come into being....


35 posted on 02/04/2013 1:23:31 PM PST by GOPJ ( Revelation can be more perilous than Revolution. Vladimir Nabokov)
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To: Ruy Dias de Bivar
To Gerald Ford's credit, he did bring the inflation rate down to 4.8% by the time he left office. When Carter left office four years later, inflation was at 12.6%.

I actually think that Ford was one of the better Presidents this nation has had.

36 posted on 02/04/2013 1:24:11 PM PST by Hoodat ("As for God, His way is perfect" - Psalm 18:30)
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To: LucianOfSamasota

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..


37 posted on 02/04/2013 1:26:02 PM PST by GOPJ ( Revelation can be more perilous than Revolution. Vladimir Nabokov)
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To: P.O.E.
I actually remember Nixon announcing his wage/price freeze

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.

38 posted on 02/04/2013 1:27:33 PM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: Marcella

I agree. People have been expecting inflation here but, it’s been artificially stifled.


39 posted on 02/04/2013 1:28:48 PM PST by WCH
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To: WCH

Have you not been to the grocery store lately? Inflation is very much here.


40 posted on 02/04/2013 1:37:24 PM PST by sfimom
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To: Paradox

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.


41 posted on 02/04/2013 1:38:58 PM PST by Chaguito
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To: LucianOfSamasota

Replace high prices with empty shelves. That always works.


42 posted on 02/04/2013 1:38:58 PM PST by Colinsky
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To: Kartographer

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.


43 posted on 02/04/2013 1:47:01 PM PST by TADSLOS ( "I ask sir, what is the militia? It is the whole people except for a few politicians."-George Mason)
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To: sfimom

Yep but, the real inflation is coming. They can’t hold it back much longer.

Argentina is just the beginning.


44 posted on 02/04/2013 2:04:27 PM PST by WCH
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To: WCH

That scares me. To the bone.


45 posted on 02/04/2013 2:07:11 PM PST by sfimom
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To: WCH

Less goods for the same price is still inflation.


46 posted on 02/04/2013 2:07:53 PM PST by Fledermaus (I'm done with the GOP. Let them wither and die. Let's start over.)
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To: Kartographer

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 don’t want to be beholden to anyone for providing what is needed for me and mine. I certainly don’t want to have to kiss some ‘gubberment’ third class bureaucratic to try and coax some help from them, I don’t 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 don’t 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:
http://tomeaker.com/kart/Preparedness1j.pdf
NOTE! THIS IS A FREE DOWNLOAD. I DO NOT MAKE ONE CENT OFF MY PREPAREDNESS MANUAL!
For those of you who haven’t started already it’s 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 FReeper’s ChocoChipCookie Blog The Survival Mom (Please Blog Police let this one slide!) Where you can get lots of useful information like:

http://thesurvivalmom.com/2011/11/20/8-morale-boosters-for-any-worst-case-scenario/

http://thesurvivalmom.com/2010/02/02/survival-priorities-the-rule-of-three/

http://thesurvivalmom.com/2010/12/29/normalcy-bias/

And More

“There is no greater disaster than to underestimate danger.
Underestimation can be fatal.”


47 posted on 02/04/2013 2:49:07 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: St_Thomas_Aquinas

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.


48 posted on 02/04/2013 3:07:28 PM PST by P.O.E. (Pray for America)
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To: LucianOfSamasota

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.


49 posted on 02/04/2013 3:09:30 PM PST by bgill
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To: LucianOfSamasota
As you can see, totalitarian socialism can solve any problem.

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.


50 posted on 02/04/2013 3:12:43 PM PST by Iron Munro (I Miss America, don't you?)
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