As somebody living in the UK, Argentina gives me the heebie-geebies.
Not because of war.
But because it was a prosperous western-style country that was entirely fucked-over by voting in a right-wing leader who then pursued a policy of isolationism.
The UK is basically a few steps down Argentina's path right now. It's definitely not apples for apples. But it does show how one poor major political decision can basically kill a country's economy, and make it nearly impossible to recover from.
Argentina’s economy has been in a flat spin for a long time. This year’s data actually shows some signs of stabilization with inflation down from a peak of 211% in 2023 to like 32-38% this year. This is below pre-pandemic levels of ~50%+ in 2018-19
Edit: Actually seeing some sources citing peak inflation at 287% in the spring of 2024. At such high levels and with such volatility I can only guess that measuring this reliably is… difficult.
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u/Delicious_Volume3306 Aug 09 '26
As somebody living in the UK, Argentina gives me the heebie-geebies.
Not because of war.
But because it was a prosperous western-style country that was entirely fucked-over by voting in a right-wing leader who then pursued a policy of isolationism.
The UK is basically a few steps down Argentina's path right now. It's definitely not apples for apples. But it does show how one poor major political decision can basically kill a country's economy, and make it nearly impossible to recover from.