Chainsaw Trump wins Argentina presidential election in landslide

[LevelUP]

Argentina set for sharp right turn as Trump-like radical wins presidency, making him the first libertarian world leader
https://archive.vn/r060j#selection-419.0-419.72

In his first speech as president-elect, Milei told Argentines that “the model of decadence has reached its end. There is no turning back.”
“Enough of the impoverishing power of the caste,” he said. “Today we once again embrace the model of liberty, to once again become a world power.” His supporters joined him in shouting: “Long live freedom, damn it!”

[ss20ts]

The title of this thread isn't what the post is about. Nice clickbait! :eyeroll:

[Vle045]

Stop invoking Trump’s name in everything. Good grief. I am so sick of that man.

[Pats20]

There’s one thing for sure, whether you love him or hate him he attracts attention. Just like having his name in this thread title is getting clicks.

[freeloader]

Clearly Argentinians are grasping for hope that he can turn around decades of poor economic performance that have left their country a shadow of its former self. On a human level, you have to hope he is successful as their nation struggles with massive poverty and inflation.

Having said all that, he speaks glowingly of the country's former rightist military dictatorship, advocates for returning to many of the dictatorships policies, and has often downplayed the massive human rights abuses of the former dictatorship. He also advocates for selling off government-owned assets in the media and energy sectors.

It is a great shame that rather than simply advocating for more economic freedoms and removing limitations on capitalism (a legitimate goal, if one I don't necessarily support), the right, seemingly globally, are embracing leaders and policies who advocate for the violent destruction of their "enemies".

Perhaps the purchasers of the media and energy assets will operate them more efficiently than the government has and they will increase the country's prosperity, but it seems just as likely that they will be placed into the hands of people who will support the regime's agenda ala the Russian oligarchs and rather than helping the people, will be a bulwark supporting the regime, enriching its leadership, and ensuring that power does not leave their hands. To be sure, the Thatcher regime sold off government assets and this didn't happen in the UK, but that is a nation with a long and vibrant history of democracy. Argentina, not so much.

[LevelUP]

What does Taylor Swift have to do with the new Argentine president, Javier Milei? Not much, but her name is in the headline to get clicks. 

BTS and Taylor Swift fans give Javier Milei and his running mate an earful
https://www.theguardian.com/world/2023/o...vier-milei

As Taylor Swift would say, "The media is going to media."

Finally, it looks like Argentina will DITCH THE PESO & OFFICIALLY DOLLARIZE.
https://twitter.com/steve_hanke/status/1...1684612118






Another Major News Story
'Dutch Trump' wins big in Netherlands general election: Far-Right firebrand Geert Wilders who was banned from Britain for being too extreme is set to sweep into power in Holland
https://www.dailymail.co.uk/news/article...power.html

[StoicJ]

As a big fan of Austrian economics and liberty I am glad Milei won. I don't think it will make a tremendous difference in the short-term (it's Argentina after all), but I imagine there will be at least some improvement. I plan on visiting Argentina next summer and will probably get a chance to discuss politics and political philosophy with some Argentines.

In terms of ideology I don't see any relation to Trump. I don't think Trump even has any particular ideology, and I can't tell the difference between the long-time Democrat supporter Trump and the newer Republican one other than he appears to surround himself with even worse people as time goes on.

[LevelUP]

Every politician who is to the right of Stalin is considered far-right and compared to Trump by the media.

Javier Milei's ideology is probably closer to Rand Paul's.

Reddit peeps in the Libertarian subreddit went nuts after he won.

Dutch Trump was a case of FAFO after the government tried to steal farms in the Netherlands. 

[freeloader]

I don't think it will make a tremendous difference in the short-term (it's Argentina after all)

I tend to think you are right. And nothing to do with Argentina. Their three largest government line-items are social security, government subsidies, and debt service, which take up better than 2/3 of government expenditures.  They also run habitual deficits that are financed through printing money and borrowing, a large part of their inflation, no doubt. 

Dollarization would severely check inflation, but so would ending the rampant printing of money, combined with cutting spending and raising taxes/increasing tax collections. 

Maybe the Argentine government will be willing to cut money for old age pensions and the subsidies that prop up their economy—necessary if they want to control inflation and dollarize. I will believe it when I see it, however. If they dollarize, I think it’s more likely that there are some small cuts in government spending combined with an increase in foreign borrowing. But when you are a debtor nation already and your foreign debts considerably outpace your annual GDP, that seems like a pretty dangerous prospect.  And with the subsidies gone, there will be a lot less incentive for production in suddenly non-competitive parts of the economy

If they follow through with all this, the market will naturally find its equilibrium, but it won’t be good for the vast majority of the country’s people. Industries might become more competitive, but it will occur because wages and raw materials prices fall and quality of life measures fall with them.   A handful will make a killing, of course, who are already powerful and well connected. Call me a cynic, but I fear that’s the purpose of off this anyway.

[LevelUP]

Several countries have dollarized, so we know it is possible. Argentina needs around $30 billion to dollarize the economy. According to estimates, Argentina citizens hold around $230 billion in dollars in various places.

"The current official exchange rate is 350 pesos to the dollar, and in the black market, it’s around 1,000 pesos to $1."

I would suggest setting the exchange rate at 1000 to 1 rather than playing around and letting the peso float for a while to find the real rate. The quicker they get out of CW, the better.
https://archive.vn/T0XIB#selection-4495.0-4499.169

Socialism is great until you run out of other people's money. The workers don't want to subsidize the non-workers.

Some believe due the landslide victory, Milei has a mandate to get the reforms passed in the legislative branch.