Mary Anastasia O’GradyIn these days of rapid change, it’s nice to know that some things stay the same. At the top of the list of old reliables is Argentine hyperinflation, which is again above an annualized 100%. Close behind in predictability is Brazil, which has brought annual inflation to below 6%, but only by holding the central bank overnight interest rate at 13.75%. Bolivia would probably be flirting again with sky-high inflation were it not for an unsustainable fixed exchange rate.
Three central banks facing one common problem: lax fiscal policy undermining price stability, investment and growth. Argentina’s monetary authorities are printing pesos to pay the state’s bills. Socialist Bolivia is running out of international reserves to defend its pegged exchange rate. Brazil’s central bank is signaling that it won’t accommodate a profligate executive with easy money, but high borrowing rates tilt resources away from economic endeavors that create wealth.
opinion MaryAnastasiaOG Free money is a must to foster slavery by politicians. There’s no substitute to instill unwavering and undying loyalty than the flow of free money in the forms of planned parenthood centers among others. Spending beyond your means is always a red flag.
opinion MaryAnastasiaOG Perfect! Government spending has a lot to do with high inflation. High inflation leads to higher interest rates to bring it down. Then the over spending costs even more due to the higher rates. Way to go Joe!
opinion MaryAnastasiaOG Well. Ya could start to tax the rich. That's one idea......
opinion MaryAnastasiaOG This “opinion” is hackneyed clap trap
opinion MaryAnastasiaOG And we had no money to refill the SPR when prices were low.
opinion MaryAnastasiaOG The debt is spiraling because the Republicans keep giving the rich tax breaks and not paying for the programs that have helped working and middle class people in the pass. There. Fixed it.