Argentinian President Javier Milei has long been an irresistible target of the press and pundits. When he came into power with his famous “Afuera!” (or Out!) platform to dramatically shrink government spending, Argentina was viewed as a basket case that was well past the red line for recovery. He was mocked as a clown for seeking to apply libertarian policies on the economy. Milei may have the last laugh. After only a year, his government has wiped out the deficit and reduced inflation from 25% to 2.4%.
Argentina’s monthly inflation rate slowed to 2.4% in November, the lowest in over four years. Inflation had slowed to 2.7% in October.
Instead of a disastrous deficit, the country now posts a fiscal surplus of approximately 0.4% of GDP.
For the media outlets, there is a begrudging recognition. The Associated Press reported the economic improvement by first detailing how “Milei’s lack of government experience, unkempt hairdo, sexual boasts and missionary-like zeal for his dead dog, the Rolling Stones and the free market didn’t inspire much confidence in a country with a history of failed economic reforms.”
After discussing the unemployment and “brutal” measures, the article finally got to the statistics roughly half way through by noting that
“signs have emerged that Argentina’s bizarre and long mismanaged economy is starting to look a little more normal. Monthly inflation has plummeted, bonds have rallied and the closely watched gap between the black market dollar and the official rate has shrunk as much as 44%. Argentina’s country-risk index, an influential measure of the risk of default, is at its lowest point in five years.”
Fox is now reporting strong evidence that the drones are being operated by Haitians searching for cats and dogs.
OT (Off Topic for those of you in Rio Linda)
In a bizarre twist, DEI and affirmative action hit the Heisman Trophy yesterday.
An exemplary but no-impact and unknown utility player, on a 3-loss, 23rd-ranked team that did not make the playoffs and is coached by an absurdly and highly touted and vigorously promoted failure, won the Heisman, while the extraordinarily talented and vastly superior quarterback, who has consistently led his team to a perfect, undefeated, 13-0, Number 1 NCAAF ranking, was rejected.
You can’t make this stuff up. DEIon Sanders, the often indecipherable if not unintelligible coach of the Colorado Buffaloes, has enjoyed a huge commercial payday (he’s presented with Nick Saban, AFLAC) and all the promotion available for reasons unknown. His record includes a normally terminal 3 losses, and his ranking is 23rd of 25, the dregs. By some inexplicable criteria, a player on his losing team won the Heisman while the clear invincible leader of the unbeaten, 13-0, Number 1 ranked Oregon Ducks was rejected.
It’s hard to argue with success, which is the middle name of Dillon Gabriel, quarterback of the Oregon Ducks.
What the —- happened, Heisman Trust?
Frank Zappa pined, “It can’t happen here…” Well, communism – total control of the means of production by the State is happening here in the USA. Millei has run into much difficulty in his own country. However, as things have improved he has gained much more support. We have 500 legislators bought and paid for by the farming, medical and military industrial lcomplex. We have hundreds of thousands of gubmint employees. We have the DNC and the Media gearing up to start their blocking the day Trump is sworn in. “Headwinds” is an understatement.
Lincoln was the inflection point.
Secession was never unconstitutional. Good Americans must have impeached Lincoln for denying States their not-prohibited and fully constitutional right to secede.
Lincoln taught Americans to reject and nullify the Constitution where and whenever they choose and as they see fit.
Lincoln’s acts and those of his successors commenced the incremental implementation of the principles of communism, none of which is constitutional.
America today is fully communist acquiescing to Central Planning, Control of the Means of Production (i.e. unconstitutional regulation), Redistribution of Wealth, and Social Engineering under the “dictatorship of the proletariat” and adhering to the slogan of Karl Marx, “From each according to his ability, to each according to his needs.”
By contrast, the American Founders established one thing: Maximal individual freedom with severely limited and restricted government.
That maximal freedom lasted a mere 71 years until 1860.
For America to be free again, it must be placed squarely back on the Constitution and Bill of Rights; all of the principles of communism must be extirpated; and all of the acts and effects of Lincoln must be retroactively, irrevocably, juridically, and legislatively struck down with extreme prejudice.
That’s a little-recognized fact about secession as of and prior to 1861 (and 1868 when the 14th Amendment was ratified). Although many prior to 1861 called it a grey area, the fact that a Puritan-led group of Northeasterners tried for close to 30 years to get their states to secede when Jefferson was elected president all but proves it was a recognized option and no one argued seriously that they could not do it constitutionally.
Please cite the Constitution, go to the law, for any prohibition of secession.
Apparently, some believe that because secession is not prohibited, secession is prohibited.
Of course, that is preposterous nonsense.
Lincoln must have been impeached for denying the constitutional right and freedom of secession.
The cold hard truth can be difficult for some.
That’s not communism, but something akin to facism.
Argentinian Chutzpah! – I ❤️ this Guy
Here is an interesting analysis of Leftism. Just finished listening to it:
No matter who votes and how they vote, the entire communist American welfare state is unconstitutional including, but not limited to, admissions affirmative action, grade-inflation affirmative action, employment affirmative action, quotas, welfare, food stamps, minimum wage, rent control, social services, forced busing, public housing, utility subsidies, DEI, WIC, SNAP, TANF, HAMP, HARP, TARP, NPR, Health and Human Services, Housing and Urban Development, Environmental Protection Agency, Agriculture, Education, Labor, Energy, Obamacare, Social Security, Social Security Disability, Social Security Supplemental Income, Medicare, Medicaid, “Fair Housing” laws, “Non-Discrimination” laws, etc.
Article 1, Section 8, provides Congress the power to tax for ONLY debt, defense, and “general Welfare”—ALL or THE WHOLE WELL PROCEED through governmental provision of only security and basic infrastructure—omitting and, thereby, excluding any power to tax for individual Welfare, specific Welfare, particular Welfare, favor, or charity. The same Article enumerates and provides Congress the power to regulate ONLY the Value of money, Commerce with foreign Nations, and among the several states, and with the Indian Tribes, and land and naval Forces.
Further, the 5th Amendment right to private property was initially qualified by the Framers and is, therefore, absolute, allowing no further qualification, and allowing ONLY the owner the power to “claim and exercise” dominion over private property.
Government exists, under the Constitution and Bill of Rights, to provide maximal freedom to individuals while government is severely limited and restricted to facilitating that maximal freedom of individuals through the provision of security and infrastructure.
The Necessary and Proper Clause is nothing more than a perfunctory redundancy for the purposes of clarification—a reinforcement of that which was previously codified—and may not be wielded to amend and impose separate acts that do not represent but alter the letter and spirit of the Founders and Framers.
Food for thought this Sunday afternoon:
Argentina’s largest trade partner is Brazil.
Brazil’s largest trade partner is China. (see statistica for source)
Regarding Milei and China:
(1) Take a look at the exchange between Milei and China’s Xi Jin Ping, described in this Nov. 2024 article entitled, “Argentina’s Milei pivots to pragmatism in first talks with China’s after shaking up the G20″
” Fresh off a trip to Trump’s Mar-a-Lago resort in Florida where he ranted against socialism and rubbed shoulders with the president-elect and tech billionaire Elon Musk, Milei initially seemed immune to such concerns in Rio.”
http://www.wsbtv.com/news/world/argentinas-milei/5E5OS2KHTRFUNKBPHLPIL7YT2E/ ”
(2) Now consider this. According to tradingeconomics.com, the vast majority of U.S. imports come from Mexico, China, and Canada, in that order. (Of course, Mexico and Canada are contiguous and share the continent.)
But, the South American continent is a different story.
“Over the last two decades, as the U.S. focused on wars in Afghanistan and Iraq, China moved into the Western Hemisphere, with exceptional speed, as well as financial and political muscle. Much of China’s investment began at the start of the century, during the so-called pink-tide, when leftist parties rose to power in Argentina, Bolivia, Brazil, Ecuador, and Venezuela.” https://www.bloomberglinea.com/2022/02/18/how-china-beat-out-the-us-to-dominate-south-america/
A few years ago, Canada legislated new restrictions on land owned by foreigners.
United States now has at least 400,000 acres of just agricultural land (not including residential or commercial/industrial properties) owned by Chinese entities.
South America???
“Don’t cry for me, Argentina.”
“I got Trump, babe.”
???
I guess if poverty has actually increased (provide numbers please, not just say it) in Argentina that their deficit spending and inflation would have increased; plus, there would be riots as there were when Mileil got elected. Yet, the opposite is true. Can you explain? Probably not. I do recall that poverty fell in first Trump term, up until the COVID bomb dropped. Then, the increase is unemployment can be explained. https://www.factcheck.org/2021/10/trumps-final-numbers/ which has a ton of lies but can’t hide the issues because of COVID. I specifically loved the efficient Vaccines mention; four years later we know that to be a complete lie, and the vaccines only, for a few, alleviated the effects of the virus.
Did you post your reply under the wrong comment? Where is mention of poverty? (“provide numbers please, not just say it”) Where is mention of riots or absence? (“Can you explain? Probably not.”) nonsensical comment is yours.
Lin,
Interesting indeed.
Can this be the greatest economic experiment of the 21st century? And wonder of wonders, it seems to be working for (most of) the people.
Jonathan: Argentina’s Javier Milei is the darling of the anarcho/capitalist/libertarian class. Elon Musk loves him because Milei has offered to open up Argentina’s rich lithium reserves for exploitation by Musk for his battery driven cars. DJT also loves Milei. The latter was the first foreign leader to visit Mar-a-Lago after DJT’s election victory. You also admire Milei.
It’s a love fest between Milei, Musk and DJT. That’s because Milei is doing in Argentina what DJT and Musk want to do here. Milei has reduced inflation by taking a chain saw to government spending–firing thousands of government workers, cutting cost-of living increases for pensioners, slashing spending on education and supplies for food kitchens. Now 52% of Argentinians live in poverty–the highest rate since 2003. Milei also wants to privatize state
-run companies. Most Argentinians oppose that. Milei even wants to abolish the Argentine peso in favor of the US dollar. Also not popular with the Argentine public. As a result Milei’s popularity is sliding. The Buenos Aires Times had a poll at the end of October that showed 51% of Argentinians oppose Milei’s austerity measures.
But Milei is the model for Musk and DJT. They also want to reduce inflation by abolishing government agencies, fire thousands of government workers, reduce the taxes on the wealthy, and reduce regulations on corporations. Will that work in either Argentina or the US? As to Argentina it has a long history of popular revolts against authoritarian regimes. Who knows how long Milei will last. But if South American history is any guide the Argentine people will finally realize their lives have become much worse under Milei’s austerity policies. Could there be a popular revolt with the slogan “Afuera Milei!!”? But Musk and DJT want to emulate Milei’s policies here. Will Americans accept the austerity measures like those in Argentina? Stay tuned because it’s going to be a rough ride the next 4 years!
Dennis: I asked you the other day for your thoughts on why there are no black Froot Loops, or Spins, which is what I think WalMart calls theirs. There are black fruits like blackberries and prunes and raisins, so there is no fruit-based basis for not having black Froot Loops. You seem to be a person very much attuned to racial disparities, and I thought you might have some thoughts on this.
I am kind of tired, because the big cat pan must have had 10 pounds of cat poop in it overnight. Whew! That was a chore. Hemingway, my pterodactyl cat, has a UTI, and I gave him some pink anti-biotic yesterday, and today. He is already doing better.
Floyd,
Fascinating question. I am sure such a deep thinker like Dennis would be able to provide us with a equally fascinating answer.
Glad to hear Hemingway is doing better.
Thx! Hemingway is a very sweet cat. He likes to lay in my arms, on his back, and just purr and snore. I found an online pic that pretty much looks like him.
https://c8.alamy.com/comp/EM247K/cat-displaying-polydactyl-feet-naps-at-the-hemingway-house-museum-EM247K.jpg
Floyd,
He looks like a stray that sometimes comes to our house to eat and get water. It is wayy to wild and feral to allow me to even get close but we keep food and fresh water out for both our barn cats and the strays that come for a meal. We have had one stray show up, who is friendly and stays around in the barn and on the front porch for treats or when we put out canned food along with their dry food. It likes to sit on top of the hay bales and wait for attention.
With the wild one, slowly move the food closer and closer to where you are sitting. This might take a month or more. Then, when within arm’s reach, after a week or so, reach down and pet lightly. Do this for a while, then one day touch on the side and do this for a few days. Then, touch under the belly for a few days. Then move her around by the underbelly to the food dish.
“Argentina’s Javier Milei is the darling of the anarcho/capitalist/libertarian class.”
AnCap’s and libertarians are not the same thing – even though the left likes to say so.
“Elon Musk loves him because Milei has offered to open up Argentina’s rich lithium reserves for exploitation by Musk for his battery driven cars.”
Recently discovered reserves in Arkansas may be larger than those of Argentina.
Further we are likely only a few years away from replacing lithium with Sodium in batteries – any country with access to the sea has an abindant supply of sodium AND getts dringing water as a by product.
“DJT also loves Milei.”
So ?
“That’s because Milei is doing in Argentina what DJT and Musk want to do here. ”
Correct.
“Milei has reduced inflation by taking a chain saw to government spending–firing thousands of government workers, cutting cost-of living increases for pensioners, slashing spending on education and supplies for food kitchens. ”
Milei has reduced inflation by reducing deficits. That is the direct correlations.
“Now 52% of Argentinians live in poverty–the highest rate since 2003.”
I have heard that claim before – but it does not hold up – you can not have low inflation, and growth with increasing poverty.
“Milei also wants to privatize state -run companies.”
Yup. Government sucks at business.
“Most Argentinians oppose that.”
Maybe, but they also oppose inflation, high deficits and no growth.
Which do you think they prefer – boated state owned businesses of low inflation, low deficits and high groth ?
If you polls people they will pick utopia.
That does not mean they are going to get it.
“Milei even wants to abolish the Argentine peso in favor of the US dollar.”
Yes, though he has stupidly backed away from that, though he has been trying very hard to PEG the Peso to the dollar and that has worked.
BTW other countries have shifted to the dollar – that is incredibly potent at forcing fiscal disciplie in government.
“Also not popular with the Argentine public.”
That is pretty much false. He has voted into office promising to do that.
As a result Milei’s popularity is sliding. The Buenos Aires Times had a poll at the end of October that showed 51% of Argentinians oppose Milei’s austerity measures.”
I have no idea where you get your data – but all the approval rattings polls in Argentina have Milei with Majority support, except one that only has a plurality of support.
Those are all Dec 2024 approval rate polls.
“But Milei is the model for Musk and DJT.”
And Thatcher, and Reagan, and Uraguay in the 20th century and Poland and much of the eastern block at the end of the USSR.
” They also want to reduce inflation by abolishing government agencies, fire thousands of government workers, reduce the taxes on the wealthy, and reduce regulations on corporations.”
Go! Baby!
“Will that work in either Argentina or the US?”
It is already working in Argentina. In fact it has worked everywhere it has been tried – including England under Thatcher.
” As to Argentina it has a long history of popular revolts against authoritarian regimes.”
Libertarian is the OPOSITE of “authoritarian”. The people of argentina are MORE free not less under Milei.
“Who knows how long Milei will last.”
No one – but his current prospects look excellent.
“But if South American history is any guide the Argentine people will finally realize their lives have become much worse under Milei’s austerity policies.”
These are policies o austerity for GOVERNMENT, they are policies of prosperity for the rest of people.
These policies worked for Thatcher who was the longest serving british prime minister of the 20th century and the 3rd longest in history.
Serving longer than Churchill.
“Could there be a popular revolt with the slogan “Afuera Milei!!”?”
Pigs could fly.
The real problem you have is that Milei is doing more draconian cuts than Trump and they are working.
The left desparately needs Milei to fail.
Right now Argentina has a surplus for the first time in 123years.
Turley is incorrect Inflation WAS 60% it is down to 2.4. Meanwhile growth is 2.5%
” But Musk and DJT want to emulate Milei’s policies here. ”
Yup.
“Will Americans accept the austerity measures like those in Argentina?”
Austerity in government is prosperity for the people.
“Stay tuned because it’s going to be a rough ride the next 4 years!”
I doubt it.
No one trusts you anymore.
He is the finest leader in the Western World. But I do worry; his enemies in Argentina are vile and violent and would do to him what two tried to do to Teump
That is the problem with the Filibuster. It immediately prevents any such radical change occurring. The Filibuster used to demand that you actually get up and talk forever till you could go no further and then the votes were taken but then they sclerosed it into basically saying “filibuster” and then you had to have 60 votes to override. Maybe they should go back to the old style and MAYBE get something done.
The filibuster protects the minority so they can block legislation even though they lost the house and senate. The House Dispensed with their filibuster in the 1800’s and now time to alter the game. The majority is also protected against doing anything radical like the public wants because they blame the filibuster and the minority for blocking them and don’t really try too hard to break the filibuster and so they sit and spin their wheels and the debt goes to 35 trillion.
If I were the Republicans I would say we theoretically have the votes to trash the filibuster so maybe we should negotiate to end it and replace with a system that sunsets every law after 10-15 years so each side will not be fearful of being obliterated if there in no filibuster. It’s one option and I’m sure there could be other options explored. But the clock is running and if another option is not agreed upon in 6 months, you trash the filibuster and go full bore.
Lastly-the AP has turned into a leftist rag and has words that are forbidden as far as being included in their reports . Sort of like George Carlin’s 7 little words.
Can’t deny the results! More and more of us are waking up. Maybe it isn’t too late to pry this world from the clutches of the modern left and its progeny. January can’t come soon enough!
Got to love the globalist economists who always offer certainty in their economic doom predictions. Argentina and other socialist societies have always tried to pacify their citizens by being all things to everyone all the time FOREVER! Finally, an economist who followed the science and not the emotion got into power and made the hard choices. Let’s see if the US can get off the crazy train tracks one day as well. HARD CHOICES are HARD!
Argentina DOGEd it!
He better watch his back. Anyone who actually fixes problems caused by the leftists and their absolutely insane ideology will quickly become a target. Donald Trump is Exhibit A of that fact.
I’ve said since he was elected he’ll eventually end up in prison. Just as soon as the economy recesses, the Left will blame him for the recession; demagogue him to turn public opinion against him; then engage in lawfare to imprison him. Exactly what Democrats do.
“He was mocked as a clown[.]” Trump was, and is still in some circles, mocked as a clown. This is a defensive tactic of the Left when they are not quite sure how to smear someone.
A great role model!
When you think about where we are as a nation, you have to kind of think about how educated and prepared the younger people are. A large number of black young people are neither proficient in math nor English, and their social skills are non-existent. What job future awaits them? Cleaning bed pans and lawn care? Maybe fast food prep, if that industry even continues. Warehouse work?
Now, that same question has to be applied to many white (and black) government workers. What jobs skills do many of them have? If DOGE is successful, and the federal workforce is reduced in large numbers, where do those people wind up? Uhhh, maybe cleaning bed pans, lawn care, fast food prep, and warehouse work. I mean, let’s face it, basic clerical work is going away too.
Floyd-Seems to me there should be openings in the cabbage picking area. Sunshine and healthy work out in the open fields of America. They might even learn some things like humility and living within your means.
And roofing jobs! Ironically, blacks and ex-government workers, will be competing with millions of illegal aliens.
I always wonder when people say, “illegal aliens do the jobs that Americans do not want to do”, are those particular Americans even working at all??? Because, if they were, then they would be saying, “there ain’t nobody to do those jobs, and those jobs need doing.”
If those Americans are NOT working, then how are they surviving? Are they on welfare? Are they selling drugs? Are they living in their parents’ basements, and playing video games?
Floyd, good points. One can say that technology is deflationary and that brings prices to workers down while the number of jobs is seemingly disappearing. We do not need illegals. Legal immigration is good and with our country’s deteriorating infrastructure, demanding repair, we need a lot of additional labor. Since the driver is technology, we have to focus on the future and better educate our children, which is your point. I don’t think we will ever have too much labor, but have too much government which is the cause of many of these problems.
Floyd and S. Meyer,
Good points all around. We need to be allowing immigrants in who are the best and the brightest. Not more useless eaters. Is there a need for manual labor? Of course. But those people tend to be green card holders, not illegals, not criminals that Biden let in and leftist DAs let off of all kinds of crimes and then go on to commit more crimes like assault, rape and murder. Even Bill Clinton admitted to that effect.
Upstate and Floyd, I think compromise is good. We should let 2 immigrants in for every Gigi we throw out.
The law of supply and demand say that there will never be too much labor.
Supply creates its own demand.
Demand creates supply
In a free market.
Technology does not lower inflation. Free markets lower inflation.
They do so by increasing efficiency Technology is just one way to be more efficient.
All immigration is MOSTLY good – legal or illegal.
Mostly is NOT the same as completely. Large scale immigration – and illegal immigration egatively impact those at the bottom of the workforce while positively effecting most of us.
“In a free market.”
In a free market I would guess that what you say is mostly true. In the US, the free market is compromised. Therefore all the rules you mention are compromised as well.
The bad news is that the lefties on YouTube continue to lie about his achievements. I hope President-Elect Trump follows President Milei’s courageous example. At $36.2 trillion in federal debt, deficits won’t make anybody a hero.
Most of the federal bureaucracy is now just a bunch of communists who interfere with elections and suck the life out of America’s finances. Sad but true.
Will his critics suffer any consequences for being wrong?
Pffft… Do they ever?
The same thing is possible here. But there will be headwinds. Category 10 Hurricane-force headwinds!