Javier Milei, a Self-Described Anarcho-Capitalist, Is Elected President of Argentina

Discussion in 'Latest US & World News' started by Pro_Line_FL, Nov 20, 2023.

  1. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Argentina inflation is 140% and 40% of the population living in poverty, so its no wonder they wanted a change. The new guy wants to abolish abortion, legalize human organ trade, adopt USD as national currency, abolish central bank. He says he is anarcho-capitalist.....We'll see how it goes. Argentina has had lot of presidents come and go in past few decades (12 presidents since 2001)

    Javier Milei, a Self-Described Anarcho-Capitalist, Is Elected President of Argentina - WSJ
    https://www.msn.com/en-us/news/worl...n&cvid=a080e52e3cfb4645af9099377bc7d573&ei=18

    BUENOS AIRES—Javier Milei, a libertarian political outsider who pledged to flatten Argentina’s political establishment, won the presidency Sunday by an overwhelming margin in a major shift for a country buffeted by one of the world’s highest rates of inflation and mounting poverty after years of populist rule.

    “Today, the reconstruction of Argentina begins,” Milei said to an ovation as he celebrated his victory with supporters. “It’s the end of Argentine decadence,” he added, calling the results Sunday “the miracle of electing a liberal, libertarian president.”
     
  2. wgabrie

    wgabrie Well-Known Member Donor

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    This man was not hired for his social policies. This man was hired because Argentina is in an emergency economic crisis and the voters knew it was time to call in the "emergency services" as they say to fix it. There are certain economic policies that need to be put into place, and the kid gloves need to come off to deal with it. There is no walking on eggshells here, no hiring a moderate, no electing a dandy. The economic crisis must be confronted head-on, hard!
     
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  3. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    140% inflation, currency in the gutter and 40% of the population living in poverty and 12 different presidents in past 20 yrs swearing to fix the economy. We'll see if this guy is any different. Talk is cheap.

    Drastic measures have brought countries out of the hole before. Hitler fixed Germany by employing the unemployed in massive infrastructure project. War industry brought US out of the hole. Both created jobs, so time will tell is "anarcho-capitalism" will do the same, while the approach is the opposite of Germany and US.
     
    Last edited: Nov 20, 2023
  4. Tipper101

    Tipper101 Well-Known Member

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    Is it true you’re only allowed to speak in song voice over there? I know I won’t cry for them!
     
  5. wgabrie

    wgabrie Well-Known Member Donor

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    He made the first wise move by bringing in the US Dollar. Now, everyone will use them instead of Argentina's inflating currency, bringing some short-term stability while other economic reforms can take place.
     
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  6. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Changing currency is easier said than done, so as of now no one is using USD there, and most doubt he can deliver on that promise. Lot of countries would do it if it was that easy. Panama does use USD, and their own currency (Balboa) which is pegged to USD, but that's more thanks to us than them, and of course they are not in control of their own money supply.
     
    Last edited: Nov 20, 2023
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  7. Montegriffo

    Montegriffo Well-Known Member

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    He can't print US dollars so how does he switch?
     
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  8. wgabrie

    wgabrie Well-Known Member Donor

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    Many countries use the USD.

    I'm more concerned with his next task which is paying down their trade debt and lowering their budget deficit. He will need to consider cutting government programs (They'll hate that) and consider raising taxes. Or he could shift that debt into long-term debt payments.
     
  9. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    They tries pegging the peso to USD in 1990s and it didn't end well because banks had to restrict the amount of money people would withdraw.

    As you say their would not be able to print their money, and the new guy actually plans to abandon monetary independence / policy altogether and allow US handle it. That would include abolishing their central bank, which is what Panama did. I don't know why any country would give up their sovereignty like that.

    Does Javier Milei’s dollarisation plan for Argentina make any economic sense?
    https://www.theguardian.com/world/2023/nov/20/javier-milei-dollar-plan-argentina-economy
    Milei’s big idea involves abolishing the peso and for Argentina to use the US dollar instead. A milder form of this policy was tried in the early 1990s, when – after a previous episode of recession and hyperinflation – the government in Buenos Aires fixed the exchange rate at one peso to the dollar. This strategy, known as convertibility, was abandoned in 2002 after a deep recession and violent street protests against restrictions on bank withdrawals made it untenable.

    Argentina’s president-elect says he wants to go further. Under his proposal, the country’s central bank would in effect be abolished and the economy fully “dollarised”. This would mean monetary policy for Argentina being set in Washington rather than Buenos Aires.
     
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  10. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    US, Panama, Ecuador and bunch of US territories like Puerto Rico.

    And the big surprise: Zimbabwe, - they had to reduce the value of the local currency to zero before converting.

    I dont know what kind of programs they have there, but I guess its not many. Austerity would probably backfire in a situation like that, and would be better deployed when things improve
     
    Last edited: Nov 20, 2023
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  11. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    To be totally fair, I suspect "Anarcho-Capitalist" has a slightly different meaning and comes along with different connotations in the Latin America region.

    I'd guess that he is using this designation to show that he is in favor of free markets (something important given Argentina's political history) but at the same time is radically in support of individual rights and is anti-fascist, since being conservative often carries fascist connotations in Argentina, given their history.

    I suspect this is largely reactionary against the Left wing economic policy in that country and the country's huge inflation problem.

    Thread in economics section: Argentina struggles with hyperinflation
     
    Last edited: Nov 20, 2023
  12. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    They have traded presidents and governments every other year, so there is no way of pinning it on 'right' or 'left'. Both have printed money. Likewise in US, the GOP is printing money today since they are in control of the purse, and Dems have done it in the past. The term anarcho-capitalist is a libertarian term to describe a 'stateless society'.
     
    Last edited: Nov 20, 2023
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  13. Bill Carson

    Bill Carson Well-Known Member

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    I like how he refers to liberals

     
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  14. fmw

    fmw Well-Known Member

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    Paying taxes in places like Argentina is pretty much optional since tax laws are badly enforced. When you expand the money supply to provide for spending you arrive at runaway inflation eventually. We do the same thing but way more slowly. So our inflation doesn't run away. It just hurts.
     
  15. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    He considers himself liberal, libertarian, so he wasn't referring to "liberals", but collectivists, like commies, who he believes will kill you unless you comply. Of course that never happened in Argentina, so he spices things up somewhat.

    They do collect income taxes and the VAT is things like tobacco and booze is pretty high.
     
    Last edited: Nov 21, 2023
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  16. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Part of that is because standard of living is not so high for a large segment of Argentina's society. About 49% of people earning a livelihood in Argentina work in what is known as the informal economy, usually not being employed by an official business.

    This might not sound bad to those in the U.S. but usually the jobs in the informal economy involve lower incomes and no company provided benefits. The person is on their own, or has to create their own business to try to provide themselves with a job.

    Obviously it's harder to tax people working in the informal economy, and would be very unpopular with the society if the government tried to come down on them to strictly collect taxes.
     
    Last edited: Nov 21, 2023
  17. Izzy

    Izzy Well-Known Member

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    What breed of dog do ya think it is? :roflol:

    Could this threesome-loving tantric sex coach and pro ...
    View attachment 230068
    Daily Mail
    https://www.dailymail.co.uk › news › article-12471977

    Sep 2, 2023 — Javier Milei has spoken about his preference for threesomes, why he believes poor people should be free to sell their body parts, and how he enjoys communicating via telepathy with his dead dog for political advice.
     
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  18. Izzy

    Izzy Well-Known Member

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  19. Bowerbird

    Bowerbird Well-Known Member

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    Legalise organ trade……….. oooookkkkkaaaaayyyyy! Guess which country is going to do a roaring trade in organ transplants? They will have people flying in from America to get organs.
     
  20. Bowerbird

    Bowerbird Well-Known Member

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    American liberals or Australian Liberals

    Hint: Liberal can mean something different outside of America
     
  21. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    And the organs are probably imported from China where they are taken from people who were still using them.

    Which is why he didn't use the word liberal when referring to people as "****", while he uses "liberal / libertarian" to describe himself.
     
    Last edited: Nov 22, 2023
  22. Hey Now

    Hey Now Well-Known Member

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    This guy looks like a total ****in' nutcase with a Big Show appeal.....Putin must be happy!

    Libertarian & narco capitalist, lol!
     
    Last edited: Nov 22, 2023
  23. drluggit

    drluggit Well-Known Member

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    Why get hung up on the rhetoric used by a marxist commentator for MSN? It seems too convenient and demonstrates a lack of or unwillingness to actually educate yourself on the topic.
     
  24. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    The article is from Wall Street Journal (shared by msm.com), hardly a "marxist" commentator. WSJ is a right leaning paper, but considered reliable.

    Which part of it do you disagree with? The inflation data? The poverty level? What?

    Look who's talking. You didn't even open the link to learn it was WSJ, and instead pretended to know all about it and even label it "marxist". Yes, you did demonstrate total lack of or unwillingness to actually educate yourself on the topic

    [​IMG]

    You couldn't make it up if you tried. LOL
     
    Last edited: Nov 22, 2023
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  25. Izzy

    Izzy Well-Known Member

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    And outlawing abortions enables everyone to sell all those newborns.
    Working body and body parts,no expiration date, you decide.

    He's mentally deranged.
    Good luck Argentina
     
    Last edited: Nov 22, 2023

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