Javier Milei Elected President of Argentina

[Cooper]

It sounds extremely arrogant but seems like he’s answering a question similar to why they voted for him.

He was a soccer player, tv personality and college professor. He had followers.

I don’t know much about the guy but a politician that cuts government spending is what the world needs the most. Specially here in the States.

It's not government spending that is the biggest problem in the US, it is the fact that the entire political and economic process is captured by special interests. Other western countries don't have $1,500 ambulance rides, $60k tuition or a defense industry that sucks up half of US income taxes and charges $5k for a hammer.

Argentina's main economic problem is usury from the globalists, through actors like the IMF and the World Bank. Mileikowsky is going to make that problem worse by further submitting his country's banking system to the US Fed, and is going to put Argentina on a death spiral by tying his foreign debt to the US$.

The endresult is going to be banksters buying up Argentinian resources for pennies on the dollar. That was the goal all along, same as in Ukraine.

He was a soccer player, tv personality and college professor. He had followers.

He's just a tool that was groomed to take over and deliver his country to foreign agents, exactly like Zelinsky. Nothing organic about his rise.

 

[Rational1]

I haven’t been following his rise much, but it certainly seems like a psyop. Cutting spending is positive and his anti-liberal speeches are entertaining, but there are too many red flags. The Israel thing is one, and he also seems quite libertarian from what I read, wanting to decriminalize drugs and prostitution. Nope, that’s not how you turn a society around, that’s how you enslave one with hedonism.

 

[Cooper]

"Which country owes the most debt to the IMF?Argentina!That’s the real problem in Argentina. Not “socialism.”Fake libertarian Milei is a puppet of the same banksters who broke Argentina.Now, he will sell the country to those vultures in the name of privatization, free market & reforms."

 

[Thomas More]

"Which country owes the most debt to the IMF?Argentina!That’s the real problem in Argentina. Not “socialism.”Fake libertarian Milei is a puppet of the same banksters who broke Argentina.Now, he will sell the country to those vultures in the name of privatization, free market & reforms."

Is there any real difference between debt held by the IMF, and other forms of national debt? Argentina's national debt is about 85% of their GDP, which is pretty high, but most other countries have extremely high debts as well. I don't see that it makes a difference if it is owed to the IMF.

Maybe IMF debts are expected to be paid off quickly and require higher payments, or maybe they are at higher interest rates?

 

[larom]

Is there any real difference between debt held by the IMF, and other forms of national debt? Argentina's national debt is about 85% of their GDP, which is pretty high, but most other countries have extremely high debts as well. I don't see that it makes a difference if it is owed to the IMF.

Maybe IMF debts are expected to be paid off quickly and require higher payments, or maybe they are at higher interest rates?

Big difference.

When the US used to lend Mexico money in the late 1800's, early 1900's, the Mexicans were told if they didn't repay their loans baja california would be taken by force, and the Mexicans always paid on time.

These days, that's unlikely to happen. In all of these middle income countries, generally speaking, they don't produce anything, cars, consumer electronics, planes, boats, etc. Their entire way of life is based off of outside technology. In practice, these days, When countries like Venezuela do a hard, "f u" default, they'll get cut off from the modern world, no more iphones, trucks, leased 737s, etc.

Argentina produces food for 5x the size of it's population, a varied array of quality foods also. It also has some of the largest natural gas reserves on earth (vaca muerta). Life is still quite easy in Argentina, there's plenty of electricity & food. There's a reason you will see very few, if any, Argentines arriving to the US border. Better to be poor in Argentina than the US. Poverty in Argentina is nowhere near 50%.

The devaluation happened because of the drought, not milei.

 

[Cooper]

"Which country owes the most debt to the IMF?Argentina!That’s the real problem in Argentina. Not “socialism.”Fake libertarian Milei is a puppet of the same banksters who broke Argentina.Now, he will sell the country to those vultures in the name of privatization, free market & reforms."

It makes a huge difference whether this debt is owned by foreigners (loss of sovereignty) or in a foreign currency, which could trigger an inflationary death spiral (see Turkish currency).

 

[Cynllo]

Maybe IMF debts are expected to be paid off quickly and require higher payments, or maybe they are at higher interest rates?

The IMF is a highly political leftist-globalist body that goes around the world telling countries what their domestic policy is.

In 2021, the IMF was going round the world telling middle-income countries they need to get everyone vaxxed and masked of the economy is over.

https://voz.us/argentina-javier-milei-celebrates-first-week-without-food-inflation-in-30-years/

Criticism of Milei aside, in about a year he's got inflation down to zero.

We have all these problems, which out owners and experts say they need to take control of us over, but it turns out these problems are optional.

El Salvador - statists/leftists kicked out - goes from the most violent country in the world to 2nd safest in the Americas
Argentina - statists/leftists kicked out - inflation tamed in one year

Crime is an option, inflation is an option (to a considerable degree).

The left needs to be banned, in the same manner that you'd ban paedophilia. Not much difference between the two now. The left will at least accept paedophilia so long as their decrepit systems of decline remain in place.

 

[Australia Sucks]

It makes a huge difference whether this debt is owned by foreigners (loss of sovereignty) or in a foreign currency, which could trigger an inflationary death spiral (see Turkish currency).

Even if that is true according to the graph the Argentinian debt to the IMF is only 5.3% of their GDP. Hardly a panic inducing amount. Its their overall level of debt that is a worry.

 

[Australia Sucks]

Criticism of Milei aside, in about a year he's got inflation down to zero.

4% month on month inflation rate for July (i.e. 60% inflation per annum at that run rate) is not quite zero but yes its clearly heading in the right direction.

 

[Cooper]

Inflation spiked massively after he took over, and now it looks like it's gone down just a bit from a peak of 290% to 263% in july, not much to celebrate:

Argentina Inflation Rate

Inflation Rate in Argentina decreased to 193 percent in October from 209 percent in September of 2024. This page provides the latest reported value for - Argentina Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

 

[RedLagoon]

Inflation spiked massively after he took over, and now it looks like it's gone down just a bit from a peak of 290% to 263% in july, not much to celebrate:

Argentina Inflation Rate

Inflation Rate in Argentina decreased to 193 percent in October from 209 percent in September of 2024. This page provides the latest reported value for - Argentina Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

How is that even possible?

As in is everyone broke there or what?

 

[Australia Sucks]

Inflation spiked massively after he took over, and now it looks like it's gone down just a bit from a peak of 290% to 263% in july, not much to celebrate:

Argentina Inflation Rate

Inflation Rate in Argentina decreased to 193 percent in October from 209 percent in September of 2024. This page provides the latest reported value for - Argentina Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar...

tradingeconomics.com

You aren't looking at it the right way. The cumulative 12 month figures are obviously extremely lagging. You sgould look at the month of month inflation rate.

Argentina Inflation Rate MoM

The Consumer Price Index in Argentina increased 2.70 percent in October of 2024 over the previous month. This page provides the latest reported value for - Argentina Inflation Rate MoM - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic...

tradingeconomics.com

This graph shows the month on month inflation rate which is now at 4% compared to the peak at the end of 2023 of 25%. So prices are now increasing by 4% per month instead of 25% per month.

 

[Cooper]

Yes, but they weren't increasing at 25% per month before he took over, there was a big spike after he became president, and now it looks like it's back to "normal", same high inflation rate before he took over.

 

[RedLagoon]

Yes, but they weren't increasing at 25% per month before he took over, there was a big spike after he became president, and now it looks like it's back to "normal", same high inflation rate before he took over.

Again; how isn't everyone broke there yet?

 

[GoodShepherd]

 

[Cooper]

Again; how isn't everyone broke there yet?

High inflation = local assets and labor become cheaper for globalists, also country falls deeper into debt as it is US$-denominated (usurious debt spiral)

 

[Australia Sucks]

Again; how isn't everyone broke there yet?

Argentinians learned their lessons from the 2001 currency crises. Nobody saves in Argentinian pesos anymore. Most Argentinians only keep enough in pesos to cover the next months worth of expenses. If they have any savings they quickly change them into US dollars. Properties in Argentina are priced in USD. But yes working class and middle class people in Argentina who get paid in Pesos are definitely feeling the pinch.

 

[Australia Sucks]

Yes, but they weren't increasing at 25% per month before he took over, there was a big spike after he became president, and now it looks like it's back to "normal", same high inflation rate before he took over.

I don't think you can hold him responsible for inflation spiking to 25% shortly after he took over. The trend was already in place before he took over and it wasn't caused by him. Javier came into office on 10th December 2023 and inflation hit its peak in December 2023.

So you can't blame somebody who had only been in office for literally 3 weeks (25% was for the month ending on the last day of December) when inflation spiked. That spike was the result of years of bad policies from the governments preceding him.

Literally inflation peaked the month he got into office and has been on a downward trajectory since.

But as you pointed out inflation has just returned to its normal trend just prior to the spike so its still too early to judge his competence. If inflation gets down to 1-2% per month then we can give him some credit. So for now we will wait and see I guess.

 

[Cooper]

^The inflation peak happened after he got into his office because of the radical changes he implemented - cutting off China and so forth, which further destabilized the monetary situation in Argentina. The guy is a clown and a tool of the globalists whose goals are to grab Argie assets (arable land, lithium etc) for pennies on the dollar, and to keep the country out of BRICS and into the IMF/World Bank plantation.

They've used the culture wars to promote this guy, a liberal globalist zionist boomer posing as a conservative.

 

[budoslavic]