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Thread: Javier Milei

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    Senior Member dneal's Avatar
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    Default Javier Milei

    I have been watching this new President of Argentina for a year or so, up to his Presidential win and now to his first actions.

    Argentina has enormous natural resources, and was once a great state before the socialists destroyed it. It will be interesting to see if the legislature gets on board with his reforms. Groceries are down 15% overnight.

    In the last 18 days, he is/has:

    -Eliminated 12 out of 21 cabinet posts
    -Firing 5,000 government employees
    -Ending 380k government regulations
    -Banned woke language in the military
    -Bill to affirm the right to self-defense
    -Bill to legalize homeschooling of kids
    -Proposal to punish all riot organizers
    -Future welfare cuts for road-blocking
    -Legalized paying contracts in bitcoin
    -Privatization of state-run companies
    -Opened up the Argentina oil industry

    AFUERA!!!
    "A truth does not mind being questioned. A lie does not like being challenged."

  2. #2
    Senior Member welch's Avatar
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    Default Re: Javier Milei

    Quote Originally Posted by dneal View Post
    I have been watching this new President of Argentina for a year or so, up to his Presidential win and now to his first actions.

    Argentina has enormous natural resources, and was once a great state before the socialists destroyed it. It will be interesting to see if the legislature gets on board with his reforms. Groceries are down 15% overnight.

    In the last 18 days, he is/has:

    -Eliminated 12 out of 21 cabinet posts
    -Firing 5,000 government employees
    -Ending 380k government regulations
    -Banned woke language in the military
    -Bill to affirm the right to self-defense
    -Bill to legalize homeschooling of kids
    -Proposal to punish all riot organizers
    -Future welfare cuts for road-blocking
    -Legalized paying contracts in bitcoin
    -Privatization of state-run companies
    -Opened up the Argentina oil industry

    AFUERA!!!
    I doubt that Argentina was ever a great state. Argentines claimed that their country centered world strategy, and that it was, somehow, just that their military conquered the Falklands. Henry Kissinger was never my hero, but he put it nicely: "Ah, yes. Argentina, that dagger pointed straight at the heart of Antarctica!".

    Argentine socialists -- and I doubt that there were so many -- could not have ruined what the Argentine military ruined so thoroughly in the 1970s. Judging from Jacobo Timmerman's memoirs of prison, the Junta was a self-insulated crazy bunch killing and torturing because they believed that Jews all worked for Israel, and that Israel was a front for the Soviet Union.

    Meliei's program? Sounds off-base, but we will see.

    My own hunch has always been that Latin America is hopeless. The English colonies in North America benefitted from the social structure of England, especially in the 17th Century. Just then, a "bourgeoisie" defeated the absolutists Stuart kings, shifted power to Parliament, and limited the strength of the aristocracy. Our colonists had no aristocrats, and each colony inherited an English political model...life, liberty, and property, to borrow from John Locke. Outside of Virginia and South Carolina, we began as medium farmers, with property so widely spread that "fully" 75% of white men in Massachusetts could vote.

    The Spanish and Portuguese colonies inherited an aristocratic social and political: a few lords and many peasants. That system cannot grow and thrive.

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    Default Re: Javier Milei

    I doubt that Argentina was ever a great state.
    Respectfully, it's hard to continue reading past this level of ignorance.

    At the turn of the 20th Century, Argentina was the 7th wealthiest nation in the developed world. European immigration to Argentina was second only to the U.S.

    Have you seen the architecture in Buenos Aires?
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Senior Member welch's Avatar
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    Default Re: Javier Milei

    Quote Originally Posted by dneal View Post
    I doubt that Argentina was ever a great state.
    Respectfully, it's hard to continue reading past this level of ignorance.

    At the turn of the 20th Century, Argentina was the 7th wealthiest nation in the developed world. European immigration to Argentina was second only to the U.S.

    Have you seen the architecture in Buenos Aires?

    Nope, I have never seen the architecture of Buenos Aires, nor have I read Argentine novels. I audited a course on modern film, where the professor explained the ups and downs -- mostly downs -- of Argentine film. We watched an Argentine film called La Cienaga, convincing me that I don't need to hunt for more Argentine films. See https://www.imdb.com/title/tt0240419/

    What evidence suggests that Argentina was ever a great state? "For all its success, by the 1920s Argentina was not an industrialized country by the standards of Britain, Germany or the United States.[85] A major hindrance to full industrialization was the lack of energy sources such as coal or hydropower.[85] Experiments with oil, discovered in 1907, had poor results.[85]" That's from a Wikipedia article on an economic history of Argentina: https://en.wikipedia.org/wiki/Econom...y_of_Argentina

    Argentine political history seems to have grown out of feudalism, of lords and peasants. It turned to fascism through the 1920s. Wasn't the 1970s junta a paranoid version of fascism?

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    Default Re: Javier Milei

    Isn't the most important component of the OP's originating post in this thread his information about the way a new President has able to get the Country headed back on the right track after the leftists / socialists just about tanked it?
    If so, one can only hope that the same can / will occur here following the November 2024 election.

    We have no choice, the change has got to come ASAP. Right now we are headed "to hell in a hand bucket" at warp speed!

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    Default Re: Javier Milei

    Quote Originally Posted by welch View Post
    Quote Originally Posted by dneal View Post
    I doubt that Argentina was ever a great state.
    Respectfully, it's hard to continue reading past this level of ignorance.

    At the turn of the 20th Century, Argentina was the 7th wealthiest nation in the developed world. European immigration to Argentina was second only to the U.S.

    Have you seen the architecture in Buenos Aires?

    Nope, I have never seen the architecture of Buenos Aires, nor have I read Argentine novels. I audited a course on modern film, where the professor explained the ups and downs -- mostly downs -- of Argentine film. We watched an Argentine film called La Cienaga, convincing me that I don't need to hunt for more Argentine films. See https://www.imdb.com/title/tt0240419/

    What evidence suggests that Argentina was ever a great state? "For all its success, by the 1920s Argentina was not an industrialized country by the standards of Britain, Germany or the United States.[85] A major hindrance to full industrialization was the lack of energy sources such as coal or hydropower.[85] Experiments with oil, discovered in 1907, had poor results.[85]" That's from a Wikipedia article on an economic history of Argentina: https://en.wikipedia.org/wiki/Econom...y_of_Argentina

    Argentine political history seems to have grown out of feudalism, of lords and peasants. It turned to fascism through the 1920s. Wasn't the 1970s junta a paranoid version of fascism?
    Socialists, fascists, liberals, Democrats. Different names for political locusts who leave societies in ruins.

    You’ve clearly a lot more reading to do, but you’re beginning to grasp the concept.
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Senior Member dneal's Avatar
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    Default Re: Javier Milei

    Quote Originally Posted by 724Seney View Post
    Isn't the most important component of the OP's originating post in this thread his information about the way a new President has able to get the Country headed back on the right track after the leftists / socialists just about tanked it?
    If so, one can only hope that the same can / will occur here following the November 2024 election.

    We have no choice, the change has got to come ASAP. Right now we are headed "to hell in a hand bucket" at warp speed!
    To be clear, Argentina did collapse at the turn of the millennia. One of the best "prepper" guides was from an Argentinian describing the society where your money becomes worthless and all government services stop. The metaphor of the zombie apocalypse.

    In 100 years, it went from the 7th wealthiest country in the world to bankruptcy. Milei is a professor of economics. He's an Austrian. We'll see how theory works out in practice, which is the interesting aspect of his ascendency. Unlike Bukele in El Salvador, Argentina has enormous natural resources. Lithium for electric car batteries, huge oil reserves, a large region for agriculture, etc...

    As for the other silliness introduced, totalitarians come in all flavors - but they and their party always seem to prosper at the expense of the public.
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Senior Member dneal's Avatar
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    Default Re: Javier Milei

    Leftist institutions are clearly and obstinately opposed to the danger to their self(ish) interests, but the danger of giving one person that kind of power is not inconsequential. If passed, it would be interesting to see if Milei is a Caesar or Sulla. I suspect the latter.

    Reason: Milei Brings His Chainsaw to Argentina's Regulatory State

    Milei Brings His Chainsaw to Argentina's Regulatory State
    If passed, the new libertarian president's omnibus bill of reforms could help Argentina reverse decades of government failure.

    Katarina Hall12.29.2023 7:15 AM

    A little more than two weeks after assuming office, Argentinian President Javier Milei on Wednesday presented his most extensive reform bill to Congress aimed at deregulating South America's second-largest economy.

    The 351-page bill includes 664 articles aimed at deregulating and modifying laws pertaining to several sectors, including labor, commercial, real estate, aeronautics, and health. According to Milei, the omnibus bill contains two-thirds of all of his reform proposals.

    "Argentina is immersed in a serious and deep economic, financial, fiscal, social, pension, security, defense, tariff, energy, health and social crisis without precedent, which affects all levels of society and the very functioning of the State," the bill states.

    These crises were caused by "an innumerable number of restrictions on the exercise of constitutional rights, especially those of trading, working, and exercising lawful industry," the bill continues, adding that these restrictions "severely limit competition" and "artificially distort prices" while "burdening the real income of citizens."

    The first measure in the bill calls for the declaration of "a public emergency in economic, financial, fiscal, pensions, defense, tariff, energy, health, administrative, and social matters until December 31, 2025." If approved, this would mean that Milei would have both the executive and legislative powers and would be able to decide on issues that are currently only regulated by Congress. The measure can be extended for up to two years.

    An entire chapter of the bill is dedicated to privatizing several state-owned companies in order to generate "greater competition and economic efficiency, reduce the tax burden, improve the quality of services, promote private investment and professionalize management." The bill mentions 41 companies it proposes to privatize, including the flagship airline Aerolíneas Argentinas, the oil company YFP, the country's largest bank, Banco de la Nación, the news agency Télam, the water company AYSA, the Argentine mint, and the country's rail system.

    Milei's proposal aims to simplify, digitalize, and de-bureaucratize the administration "to promote transparency and due administrative process…to obtain efficient regulations for market competitiveness, job creation, and everything that contributes to raising the standard of living of citizens."

    The bill proposes to eliminate the primary elections and switch to a single-ballot system. It also seeks to move the chamber of deputies from a system that determines the number of representatives proportionally with the population to one of single-member constituencies.

    The bill also extends the government's new anti-protest measures, increasing penalties to up to four years in prison for those who use arms to disrupt public transportation and up to five years for those who "direct, organize, or coordinate a meeting or demonstration that impedes, hinders or obstructs circulation."

    Another chapter specifically addresses oil and seeks to ensure affordable oil supplies by leaving prices up to the market. Currently, the government can meddle in crude and gasoline prices, according to Bloomberg. The new bill will not allow the executive branch "to intervene, or fix, prices in the domestic market."

    Other measures in the bill include the resale of sports tickets with "no limit to the number of times such operation may be carried out;" the authorization of self-driving cars for individuals, passengers, or cargo; abolishing price ceilings on rent; easing price caps for private health services; and "express divorces."

    The measures will be reviewed by Congress during the extraordinary sessions that began this week and will last until January 31. But Milei's opposition, which holds the majority of seats in Congress, has vowed to not let the decree pass. Meanwhile, protests have sprung up in response to the omnibus bill. Several social organizations took to the streets in Buenos Aires, and Argentina's main labor union called for a general strike on January 24 in protest against the reforms.

    Should Milei's sweeping reforms pass, Argentina would move from being one of the world's most regulated economies to a deregulated, free market economy that could reverse decades of government failure.
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Default Re: Javier Milei

    We need at least six months, and probably a year, to judge how Meliei's policies have worked, or even to know if it will take even longer to begin to see changes.
    Last edited by welch; January 2nd, 2024 at 01:07 PM.

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    Default Re: Javier Milei

    I agree, and short term successes or failures shouldn't skew one's perspective - although the latter could put a quick end to the experiment. As noted already, the legislature could also be his stumbling block.
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Default Re: Javier Milei

    Milei's impressive speech at Davos today.



    -edit-

    Here’s the short attention span version.

    IMG_0819.jpeg
    Last edited by dneal; January 17th, 2024 at 08:35 PM.
    "A truth does not mind being questioned. A lie does not like being challenged."

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    Default Re: Javier Milei

    Barrons: Argentina Sees First Monthly Budget Surplus In 12 Years

    The Argentine government in January saw its first monthly budget surplus in nearly 12 years, as new President Javier Milei continues to push for strong spending cuts, the Economy Ministry announced.

    January was the first full month in office for Milei, a far-right libertarian who took office in December, and it ended with a positive balance for public-sector finances of $589 million at the official exchange rate, the government said late Friday.

    The figure includes payment of interest on the public debt.

    It is "the first (monthly) financial surplus since August 2012, and the first surplus for a January since 2011," the Economy Ministry said, according to the official Telam news agency.

    Milei has been negotiating with the International Monetary Fund over its $44 billion loan and has vowed to achieve balance in public finances this year.

    "The zero deficit is not negotiable," Economy Minister Luis Caputo said Friday on X, the former Twitter.

    Milei, an economist, has advocated sharp cuts in spending and a reduction of public debt on the way to a dollarization of the economy.

    Following a 50 percent devaluation of the peso, a lifting of price controls and strong rate increases, Argentina saw an inflation rate for January of 20.6 percent, with a 12-month rate of 254.2 percent.

    The year 2023, the final year of the center-left government of Alberto Fernandez, ended with a 211 percent inflation rate.
    "A truth does not mind being questioned. A lie does not like being challenged."

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