#NewWorldReport: Argentina inflation at 109% and the Peronists win an election. Joseph Humire @JMHumire @SecureFreeSoc. Ernesto Araujo, Former Foreign Minister Republic of Brazil. #NewWorldReportHumire
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 16 May 2023
⏱️ 15 minutes
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@Batchelorshow
1899 Dawson City Klondike
#NewWorldReport: Argentina inflation at 109% and the Peronists win an election. Joseph Humire @JMHumire @SecureFreeSoc. Ernesto Araujo, Former Foreign Minister Republic of Brazil. #NewWorldReportHumire
https://www.reuters.com/world/americas/country-beggars-argentines-reel-104-inflation-keeps-rising-2023-05-12/
https://www.reuters.com/world/americas/argentinas-ruling-peronist-party-wins-provincial-elections-2023-05-15/
https://www.reuters.com/markets/rates-bonds/argentina-plans-new-rate-hike-more-fx-intervention-inflation-soars-2023-05-14/
Transcript
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| 0:22.0 | This is the New World Report. I'm John Batsow with their Nesta Arosha, former foreign minister of the Republic of Brazil and Joseph Umar, the executive director of Secure Free Society. |
| 0:37.0 | There's major trouble at the Mexican border with the United States, but there's trouble throughout the continent because of elections past where the left side of the populist divide. |
| 0:50.0 | We have dominated many of the conversations. |
| 0:53.0 | Now we come to Argentina where Joseph and Ernesto have a guided me to understand there's an opportunity for the right side of the populist divide to win an election or is there. |
| 1:05.0 | We read from Buenos Aires in these last days. |
| 1:08.0 | Argentina's annual inflation rates soared to 109 percent, 109 percent in April. |
| 1:16.0 | The country's statistics agency said smashing past animals forecast and stoking anger among hard hit consumers were increasingly having to skimp and save to get by. |
| 1:28.0 | So a banana one month costs twice as much as the next month. Ernesto, the Argentine economy has been burdened by this for many years. |
| 1:38.0 | So is the Argentine public is this unusual are am I making too much of a 109 percent. |
| 1:46.0 | Well, unfortunately it's not unusual, but it reminds us of the hyperinflation basis in Argentina and Brazil and elsewhere in the 1990s or even before that. |
| 1:56.0 | There's been a long time at that we don't see that sort of of hyperinflation. |
| 2:01.0 | So it's very it's very worrisome because it can validate populist policies by Lula the silver in Brazil. |
| 2:11.0 | For example, Lula wants to curb interest rates as pressuring the independent central bank to do so which is going to bring hyperinflation in Brazil. |
| 2:20.0 | So why does he wants to expand like crazy in order to buy the next election? I mean to buy votes for the next election. |
| 2:28.0 | So fiscal responsibility which used to be something that we thought was I mean under the belt right that was was conquered by or was a victory of a later American country. |
| 2:42.0 | So for other problems but fiscal responsibility and then avoid hyperinflation. |
| 2:47.0 | It's no longer so it's no longer so. |
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