Argentina inflation crests nears 300% as monthly rate slows

Argentina's annual inflation rate hit near 290% in April, the highest in decades, but showed signs of cresting as the monthly rate slowed down more than analysts expected amid a tough austerity drive by libertarian President Javier Milei.

Both Milei and the IMF proudly declare the austerity will be "brutal to the poor and middle class".

They did not cause the crisis.

Like the 2008 banker bailouts government deregulation and bankers taking advantage of the situation led to financial chaos and workers had to bail out wealth bankers.

Austerity programs have always been socialism for the rich.

Argentina's issues are mostly due to the govt overspending and over printing currency.

They need to cut spending (I don't know how much) and switch to a stable currency that is completely outside the Argentinian govt control so they aren't tempted to just print more.

It has been a few years since I visited Argentina the last time. Seems like a really good time to take our USD there for a fantastic trip that will be very inexpensive for us and help the locals.