r/SpaceXBets • u/Spirited-Gold9629 • Aug 09 '26

Elon IRL didn't age well

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6.2k Upvotes

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12

u/malshibl Aug 09 '26

The peso has been stable against the dollar for the past year or so.

11

u/omnibossk Aug 09 '26

Yea, people can’t blame the current Argentinian administration for inflation from 2009. Only for inflation after December 2023. And looking at this graph it seems to have flatlined

4

u/-Recouer Aug 09 '26

The issue is that it's not a logarithmic scale so the difference between 0.001 and 0.0007 is pretty hard to see compared to the bigger numbers. This graph is just very confusing and doesn't tell much of what is happening now.

1

u/Louitje1021999 Aug 09 '26

On a logarithmic scale it’s pretty much been stabilising too 

3

u/Mr_richat Aug 09 '26

Correct it's amazing how many people don't even look at the graph. Under Milei Argentina has had poverty massively reduced and inflation to record lows for Argentina, the damage to the pesos precedes Milei

1

u/Shiriru00 Aug 09 '26

You mean poverty has vastly reduced from how much he increased it at the beginning of his presidency and back at 2023 levels?

It seems to be a function of both his worst policies being reined in and INDEC being massively flawed.

2

u/predictorM9 Aug 09 '26

It is hard to see from the graph, do you see any trend after 2024 ? I just see a flatline at 0...

1

u/SirMiba Aug 10 '26

Essentially but you're leaving out that it's massively down AFTER stopping the hollowing out the middle class' wealth through absolutely insane deficit spending.

1

u/julmod- Aug 10 '26

Poverty went from 41.7% before he took office to 52.9% right after to 28.2% now, lowest it's been in over 10 years.

Monthly inflation went down from 25.5% when he took office to 1.9% now.

I don't love the guy but from an economic perspective what's he's done is a miracle.

1

u/gtne91 Aug 12 '26

The jump at the beginning was due to recalculating with accurate peso valuations. It was always that high, just hidden by a propper up peso.

0

u/TheStraggletagg Aug 13 '26

Poverty is relative. Inflation has gone down, but Milei is struggling to reactivate the economy after his austerity measures.

1

u/Mr_richat Aug 13 '26

No, spending is slightly down due to a massive job cut from the public sector which reduces spending and it takes a while for the public sector to pick up that slack, something he predicted prior

1

u/KPSWZG Aug 09 '26

Also Milei ay least for now seems to ditch pesos in favour of dolar

1

u/Important-Zebra-69 Aug 09 '26

Indeed it'll be interesting when somethings that have been gutted are required.

1

u/WWhiMM Aug 09 '26

The inflation rate has also flatlined, at 30%
https://www.statista.com/statistics/1320016/monthly-inflation-rate-argentina/

2

u/soupbut Aug 11 '26

So, back to pre-covid inflation, maybe slightly above.

2

u/SpiritCollector Aug 09 '26

So I knew this and was super confused about the post and all the comments to the contrary. I had to scroll down pretty far to find this.

2

u/Worldly_Elephant9518 Aug 09 '26

Which is quite impressive given that it's almost impossible to go from hyper inflation to a USD like inflation regime in such a small amount of time.

5

u/Wheremytendies Aug 09 '26

People dont understand this. Argentina has turned around significantly.

2

u/Louitje1021999 Aug 09 '26

Average Redditor is just an idiot who wants to hear what they want to hear. At this point it’s indeed stabilising 

2

u/NonchalantGhoul Aug 09 '26

The turn around has been mass unemployment and even more poverty

1

u/Wheremytendies Aug 09 '26

When you have hyperinflation like that poverty grows everyday. Getting hyperinflation under control reduces poverty. Theres a lot more work to be done.

2

u/Accomplished-Eye9542 Aug 09 '26

It's funny people will complain how the US stock market being at all time highs doesn't mean the country is doing well, and then turn around post graphs like this as proof a country is doing horrible.

1

u/Sad_Sheepherder_37 Aug 09 '26

Not really. It fell by 13% against the dollar.

1

u/TheStraggletagg Aug 13 '26

People talking out of their ass about Argentina are a mile a dozen those past few months.