He’s got inflation under control, but cutting govt has caused a recession. Which you would expect. Next year will be very interesting. I bet his economy takes off.
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Great post @Cratic3947 and great topic but Its not all sunshine and roses.
Poverty levels have increased over 50% and like you said they are now in a recession. Plus unemployment is rising.
The below from a CNN article gives a real life example of hardships. To many in the US a bus ticket may not seem significant but the US is pretty unique where the entire transportation infrastructure is based around using a car.
However with that all said Milei is still incredibly popular but I expect that popularity will wane if the experience for the working man and woman does not change soon.
I personally think this is a great illustration of how difficult it is to keep a nation on the right track financially. Time will tell if Milei’s approach nets real long term positive results for Argentine, I think it will as long as the electorate do not suffer over a longer period.
For example, in November 2023, a bus ticket in Buenos Aires cost only around 70 pesos (7 cents) thanks to subsidies, a price too low to cover running costs, let alone investment in transport infrastructure. Public transport prices have since increased tenfold, Holtzmann noted, making a daily bus ride unaffordable for many Argentines. Many of these cuts were necessary to rein in a bloated, inefficient and spendthrift state. But the adjustment has proved painful in a country where roughly every 10th person is employed in the public sector.
“Poverty levels have increased over 50%”. Where did you get that stat from?" And what are the actual numbers as opposed to a percentage.
The 50% is the total Argentine population. Please read my entire post as I have stated despite this Milei remains incredibly popular but I wonder how long that will continue if poverty levels do not start to show a decrease next year.
This is certainly a fascinating experiment nonetheless.
I agree. I am watching Argentina with interest. I dont think there will be much middle ground it will either work spectacularly well or ■■■■ Argentine over completely.
Wouldn’t be the first time Argentina blew its own economy up.
Huh, imagine that.
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Looks like things are getting better…
Argentina logs largest energy trade surplus in 18 years in win for Milei
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what was the demand that year. Its easy to get a surplus if energy demand craters at home cause no one can afford to do anything.
Let’s hypothetically say his plan works and after the pain is over Argentina is in a much better spot. Will the rest of the world take note on the ills of oversized government or just plow ahead business as usual.
We are getting to see if a somewhat libertarian approach works.
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No, it will be ignored because it gives govt little power. And Marxists only want power!
Inflation just hit 2.2 % and The International Monetary Fund (IMF) projects that Argentina’s GDP will grow by 5% in 2025. This is a strong forecast for the country’s economy, which has been struggling in recent years.
Looks like he actually built back better…
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Sounds to me like 10% of the Argentine pop
who had been getting unsustainable freebies
became poorer when the inevitable and unavoidable happened.
Interesting development. I like how Milei is handling this head on and not shying away from it. He basically admitted he made a mistake. He has also asked for an investigation which will include an investigation into his activities.
Of course the opposition latched onto this (any opposition would thats just politics) but I do think any political leader who starts recommending any type of crypto currency or investment is asking for trouble.
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Shouldn’t he be making his own meme coin instead of promoting another?
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That was a stupid move on his part. Giving the opposition low hanging fruit. Probably won’t affect him if the economy grows as predicted this year. That and the left has no new ideas down there either…
What’s funny is that both Trump and Milei backed meme coins have the same smarmy crypto bro Hayden Davis. Watch Coffeezilla latest video for deets. Hayden claims in texts to have sent money to Milei’s sister to push the coin. Will be interesting to see the future developments.
up from 41.7% to About 52.9%.
That’s pretty bad, but
you know,
let’s keep it in context.
A cancer patient’s tumor grew.
Gonna blame the latest doctor?
