I often feel like political coverage of Latin and South American countries tends to focus a bit too much on the presidents. It's easy to forget that these countries have very American-style political systems, in which the Congress has a lot of power and can oppose, slow-walk, or even impeach the president. I feel like in recent years, tensions between presidents and congresses who hate each other has become a pronounced theme of Latin and South American politics, and it's why no matter how wild and flamboyant the president is, or how extreme right or left he is, the big problems never seem to get resolved because there is no broad public consensus regarding what should be done.
this is why the people who actually get things done are the political cunning who seek consensus and negotiate with their opposition. Instead of the crazy idealists.
@@stevestrangelove4970this is not actually the case for LATAM. That is the other side of our political game. We have no parliament, we have congress... Ironically, we don't now how to parley. In the majority of issues, the outcome is determined by the will of the party. 8 hour long hearings before ballots are cast are useless, since no one will shift their ideologically driven positions. There are also far less "díscolos" (don't now how to translate, google says it's "wayward"). Hence much of the executive's actual power to do stuff depends on how congress seats are distributed in relation to the president's party or coalition. In Argentina's case this is specifically difficult because Miley is not only an outlier, but also because congress is a mid-term election
There have been enough studies on extreme-right weirdo figures, especially ancaps. It always ends with people dying and some weird awful pdf file thing.
Eh, he probably wont get any of his laws passed, and wont be able to make any changes because of beurocracy and unions etc, the country will keep getting worse and a bunch of idiots will just be like "seeee capitalism doesnt work"
@@jan-willemvankaathoven914also they didnt mentioned that Peron was HUGE nazi sympathizer Edit: and that also his victory was helped by the past strong opposition the current goverment, making as he is as ancap as a president can get but his team is a lot more center than people think Also this channel seems to be runned by people more welcoming of socialist goverments but hey i might be just a bit biased considering im an antifa, therefore antiperonist and the only thing this guys did to summarize the only real hope argentina has against the literal family bussines(or mafia) that has run this country for the last 20 years is "he is literally crazy and a menace all his proposals will fail(in kinder words"
even more, the organ market isnt like that image of a paper, it was a trick question to generate titles, he isnt pro gun, you can get a gun in argentina but cant walk with it, he want to make it more clear to get a gun nothing more
@@nancodeif you think that capitalism can survive without a state to maintain it as an institution then im sorry but that’s not just weird that idiotic. Assuming he gets anything done in Argentina you will just have a new US puppet in South America
@@nancodeoh it's more than odd, it keads straight to dictatorship or revolution, as soon as first fruits of the system come in, it's just modern word for feudalism, only idiots can think that can work with humen race, same like communism, like greed and deceit and every type of low moral behaviour don't exist.
@@dansands8140wtf? A nuclear war can leave land and water sources irradiated and barren for millenia, if the governments collapse and there is nobody to conduct cleaning after this proposed war. Let's leave it at simply voting smart instead of going on the wayside.
@@seadkolasinac7220 You literally have zero evidence that a central bank is a constructive force except "trust me bro" from crony capitalists. Meanwhile I can show you an infinity of graphs where number starts going down when the central bank takes over.
It's easier said than done. Let's see what he can actually DO. Hope the best for Argentina. The people who get hurt from massive inflation are mostly from the bottom and working class
Lo unico que dejara de aumentar son los salarios ,los precios seguiran aumentando hasta q el consumo se desplome y entonces diran q controlaron la inflacion,son unos genios estos nuevos "anarcocapitalistas".. La unica teoria del derrame que funciona es el derrame de miseria
Exactly, but people should be shown and hopefully explain that whatever the new president has in mind will only hurt those that have so far been living off of the working people. The drones (or "gnocci") , those that get the "Work Plans" and are actually the bulk of the "weaponry" the syndicates and the government uses to show why they need to increase some governmental expenditures, it's disgusting. Of course now they are all in a panic and threatening to "paralize the country" with strikes and "marchas" and whatnot, the usual cr*p. Hopefully the announced strong attitude against any non-constitutional movements might actually be stopped within the law. So we the poor will not see a big change in our situation, until a few months more, there are things that can't be changed or stopped until other equally damaging situations are fixed. It's a hell of a job and I pray that he could be allowed to do it.
notice the only people protesting now are his political opponents that don't want change because they are better off rich, abusing the loopholes of the previous administrations
Dollarization failed in el Salvador because after dollarization debt was 30 percent of gdp in 2006 in el Salvador but in 2023 debt is 73 percent gdp and it will reach 98 percent of gdp in 2028 in al Salvador because of dollarization el Salvador will bankrupt in future that why el Salvador try cypto as a currency but failed crypto is super volatile 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
@@TR4R It owes debts denominated in dollars & relies on oil sales to make those payments We’ve embargoed Venezuela oil. Argentina now owes foreign denominated debts. So this idiotic “leader” wants to give up his country’s ability to issue its own currency Feed the Argentinian people to US corporations who wants to strip Argentina of its natural resources. I’m sure that’s all gonna work out well for both American & Argentinian elites. Not so much for anyone else
Honestly they’ve tried and failed for so long at this point that they might as well try with Milei, if nothing else it could be a good case study for this mix of conservative and economically libertarian policies. (edited/fixed from just “Libertarian” since it isn’t totally accurate.)
If the public can stomach any short term chaos. Voters can be extremely fickle. But hey, they stuck it out with the disaster socialist policies for so long!
@@candiman4243 I don't need to start, I already started saying that, he's not a libertarian. He wants to bar abortions, continue the ban on gay marriage, continue to criminalize drugs, and desires to operate top-down unilaterally instead of favoring voluntary de-centralization polices. This is a man with personal grudge against the central bank.
@@nanochase He's both an economic extreme liberal and a social extreme conservative. That's the recipe for "poor and different people would be even worse and rich people and multinationals will have the best time of their lives"
"Economists sometimes say there are four types of economies. Developed, Underdeveloped, Japan and Argentina" Now I want to know why Japan is singled out here.
Economies have an ebb and flow, they grow and shrink over time. Develop countries manage to have huge growth followed by little constriction. Japan for ~30 years, despite being a developed country has neither grown or shrank. It just stays the same whatever they try and do
You forgot to mention that peron was also a military general, came to power as Vicepresident and minister as part of a coup, and was the light and argentinian version of Franco and Mussolini. His economic policies can be resumed with one word: corporativism. Also you forgot to even mention the Kirchners, who have dominated politics in Argentina since 2003 and have aligned the nation with Venezuela, and Cuba in the regional level and China, Russia and even Iran on the global scale. The ex-president Cristina Fernandez de Kirchner is convicted for several corruption scandals and she's the vice president of the Alberto Fernandez's current government.
Well he could have mentioned a lot of things. He could have also stated who Peron's parents were and we would have a 30 minutes video but they chose not to.
No, it's not a minor thing@@KamiInValhalla He specifically talked about the numerous coup d'etat this country suffered, but ommited the one who gave birth to Peron himself. ¿Why mention the one who toppled his wife but not this one? All the funny jokes about Argentina being full of Nazis are BECAUSE of Peron and his political aligment on the global scale, not because the "right winged" parties.
Franco and Peron are waaaaaay different, Franco had little to no ideology and he got rid of the falangistas (spanish fascists) in the government and replace them with tecnocrats after 5 years in power and had a somewhat free market system Peron on the other hand was openly socialist, created the modern Argentinian "economy" and even had dealings with marxist militias
Of course, but when Peron was exiled he exiled in the Franco's spain for decades@@Mrlighthouse1000 He used the left to his favor, and ended up ditching it (the famous sepeach when he "kicks them out of the Plaza"). He died and Isabel was left in power.
some may say this is the biggist social experiment since the collapse of the USSR tbh this is some peak essay material for any social/economics subject students that is having a hard time trying to pump out some work
Argentina needs to remove the ability of elected officials to effect central bank policy, that's a big issue here. Most developed countries have central banks far enough removed from the political system that they don't deal with the pressures of every day politics and thus can make independent decisions for the good of the economy, even if they're not desirable for the incumbents
Aligning with standards doesn't make it better. For what reason are the standards better? Countries like China, South Korea and Australia don't have independent central banks. Their growth has been much higher and inflation has been much lower. Besides what is central bank independence? The Fed itself has long had a dual mandate - to keep inflation down and to ensure decent growth. Where there is some tension between the two aims, the Fed has to make a judgment and would usually listen to the views of the administration in the White House. Like right now.
Hey im from Argentina, the problem here is that the corruption is SO BIG u cant even imagen so having a central bank is not a good idea, yea u can have a goverment that dosent exploit it but goverments change overtime and thats the thing, the history of inflation in our Country is a cicle every 20 or so years.
Exactly, their central bank needs to be reformed to become actually independent, but MIlei goes to the extreme of wanting to eliminate it. This is very dumb for so many reasons, countries need a way to affect monetary policy, hold reserves and issue bonds, closing down the central bank would only move those responsibilities to other institutions.
@@Joaquin-rd3kmthe central bank in Argentina is already supposed to be independent, by law. In which other way would you enforce it? Most of us, who vote for Milei, agree that the central bank by itself it’s not the problem and that It’s not inherently bad. The politicians that run this country are the ones who are irresponsible, and we want to take that power away from them. Milei may be financially more responsible than past governments, but it’s guaranteed that Peronist will eventually come back, and we cannot allow them to destroy the economy again.
Why is nobody discussing this talking about the congressional election? Argentina has a similar separation of powers as the united states and Javier's party does not have a majority in either congressional house. There's no doubt that his more radical policies will never become laws.
@@scarysticks66 First, Cambiemos (or as it’s not called, Juntos por el Cambio) isn’t a party, it’s a coalition. And Milei only has the support of the PRO (Macri's party). He still doesn’t have enough deputies or senators.
I live in Argentina, and I just want to say that Milei didn't start hearing voices as you suggested in the video. There were loud noices in the studio when he was talking. Also his opponent (Sergio Massa) used state money for a fear campaign where you could, for example, see videos of children using guns to shoot other children and then you would read "with Milei this could happen". People from the government went to different schools and universities, saying that from now on, you could pay with your organs and suggested selling the eyes because they are very valuable. And they did much more, including spending millions of pesos in Google ads with lies. Peronistas will do anything (possibly even selling their own mothers) to stay in power.
@@guillaumeroy7528 En youtube eran constantes. Ya no eran videos de publicidad, eran anuncios de la campaña del miedo de Massa. Llegó a cansarme. La semana del 19 fuimos invadidos de anuncios. Insoportable.
@@guillaumeroy7528They spent 8 billion dollars in this campaign! Can you imagine in poor country spending that much money on the elections? That's why Milei won
@@RedeemedPaladin Nothing is free in this world. Creditor countries needs to have something to gain in the form of a new export market and most importantly make sure it will be paid back in fully by having the debtors make structural reforms to their economies. Moral of the story is don't borrow money you can't pay back.
@@carolean4360 its IMF, if your country take loans from them it is client state and not sovereign nation, they already were testing ground for all sorts of "free market" reforms, now according to plans they just gonna dissolve most of social security part of government
The dog thing is just an irony. It's the same thing with the Birds aren't real money movement. He called one of his dogs Murray, as a way to honor the memory of Murray Rothbard, an anarchocapitalist economist. So, yeah, he asked his "dog" for advice. It was a joke, but since the left can't meme, no wonder they try to use this against him.
@@nyandya But he did clone his dog. Personally, I thought about doing the same with mine, but it's very expensive. The point it's that people are taking his personal experiences and also jokes he made, and using them for diffamation and fake news. He does not as his dogs for advice, it was only a joke. And if he clone his dogs or not, it shouldn't matter. He is just an uncommon guy, using good old common sense to try help Argentina's economy get back on track. I'm a Brazilian, btw, and also an anarchocapitalist, regardless if you like him or not, people are just lying about him.
5:35 As someone who's outside Argentina and therefore has little hope of understanding if this was a joke so bad it hit his campaign or if he was actually having auditory hallucinations. If it's gonna be brought up more clarity on that is needed.
While he was giving an interview in tv he stopped and asked for the people behind camera to stop talking because it was difficult to give an interview with people talking behind him but the mics didn't catch any one speaking and the people on that tv set claim it was silent so who knows. I've also heard he hired a medium to speak with the ghost of his dead dog so go figure, people like to talk shit and the fact that he looks and speaks like a crazy person doesn't help lol
@Abyss-Will what are you on about? The host of the show himself publicly apologised to milei for the noises. He explained that due to a strike there was more people in there than normally to cover for the people missing and that they were the ones talking. Hope it was an honest mistake on your part and not an attempt to discredit milei
They never, ever, ever do. Or they do briefly, before everything goes on fire and then they scapegoat minorities. This isn't a new thing, the results are entirely predictable.
He will not. He's going to probably be ousted by a military coup at some point in the next few years. He doesn't plan on just going to some regular capitalist system like the US has, he wants to gut EVERY government program and tax. The roads and municipalities will crumble under his rule and it's going to be hilarious to watch from the sidelines. He's the first "Anarcho-Capitalist" world leader and he'll show everyone how it DOESN'T work. What will be even MORE hilarious is how capitalists will whine and moan about how Milei "didn't do it right" just how they meme about how Socialists say Socialism wasn't ever implemented correctly.
I'm argentinian and I've been following this channel for years. Almost everything said here is correct, maybe with the exception of some minor details. Something important that everyone should know is that Milei is not a politician. He's an economist and had been working on that all his life. A couple of years ago he started giving interviews taking about economy and two years ago he was elected for "Congress". His opponent's campaign had at least 10 times more money spent on it and still he got elected with a 12% advantage. It would be interesting that you research on the details of this campaign and you would be horrified. Thanks for the quality content guys and mi best wishes to my fellow Argentinians in this new adventure, far far from the left
@@davidfleb Most polls suggest that dollarization and the closure of the Central Bank are his most unpopular measures, but its too early to know if people will accept it when the moment comes
He is a panelist and a pundit with a tittle; being that said Argentina is an extremely inestable country and Milei is chaos, Libertarian, free market chaos but chaos nonetheless.
Looking forward to ordering the paper! Discovering the TLDR channels two years ago has been one of the best things ever for helping me stay current w global news!
5:30 This has been debunked. There was studio noise in the set of the interview he was having 5:35 He did not "get in trouble". This was just a talking point from the opposition to paint him as an "enemy"
According to Argentina's National Institute of Statistics and Census, at the end of 2022, Argentines held over $246 billion in foreign bank accounts, safe deposit boxes, and mostly undeclared cash.55 The amount exceeds 50 percent of Argentina's GDP in current dollars for 2021 ($487 billion) Its also more likely to take 9 billion to dollarize Argentina
Some key points: • There is no legislation regulating the spending of provinces, so even if the federal government cuts spending, the other level of government can still get debt indefinitely. • Using the Dollar won’t solve a thing, only make things worse! For example, if the Argentina’s exports get devalued internationally, the amount of money circulating in its economy will decrease. That is, it will effectively work as a central bank increasing interest rates. • Argentina will be vulnerable to the FED monetary policy; and what is momentarily good for the US isn’t necessarily for Argentina. E.g. the US might be dealing with inflation, prompting the FED towards a tightening monetary policy, while Argentina needs the stimulus. • Argentina needs deep institutional reforms, not easily pitched propaganda. It needs the best Argentinian minds, not pre-packaged reforms thought out by the IMF.
Dollarization (or a fixed peg) has its benefits. Mainly, that when a Central Bank has a horrible reputation it might be totally unable to implement the policies needed to handle inflation (because they would be unreasonably expensive in terms of employment, for example). And in such circumstances abandoning monetary policy altogether and pegging the currency may be the only way of controlling inflation. Fixing the institutional problems with the Central Bank that have caused it to have a bad reputation is the ideal solution to such a problem, but when that is not possible for one reason or another... Well, dollarization is probably better than persistent and erratic inflation, despite all its drawbacks.
I understand the challenges of economic difficulties, such as unemployment, job losses,inflation,housing crash,unstable government and the impact of conflicts and wars around the world. It can be tough to make ends meet during these times. To navigate through this difficult period, exploring alternative job opportunities, upgrading skills through online courses, and networking can increase your chances of finding employment. Additionally, budgeting wisely, exploring financial assistance programs, and seeking support from community organizations can provide some relief. How are you currently managing these challenges? Any specific strategies you've been using?
What the public thinks is irrelevant to our leaders. We've been used as pawns for a very long time. People are really going through real life crisis right now. This is no more a recession, its is a major depression. The corrupt government will end this country, just like what happened to Rome. My sympathy is extended to anybody who is close to retirement and may be concerned about the viability of their pension, particularly in light of the ongoing increase in the cost of living.
@@elishadan212Well agreed, I'm quite lucky exposed to finance at early age, started job at 19, purchased first home at 28, got married shortly afterwards to raise kids early. Going forward, got laid-off at 40 amid covid '19 outbreak, immediately consulted with an advisor in order to stay afloat and after subsequent investments, I'm barely 25% short of $1m ballpark goal as of today.
@@shirleya.osgoodI've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
Same His ideas is insane. If it works. He's a genius, if not.. then ig Argentina will follow Myanmar for this century Especially he claims to be an anarcho capitalist which is again, very interesting
1) Hearing voices.... on a TV studio, during an interview, there were people talking 2) Organ market was in a philosophical discussion, not any kind of framework 3) He said the CURRENT LEGISLATION ABOUT GUNS has to be put in motion, because right now, goverment is not following it. 4) What he said about the Pope who is a hugue political player in Argentina was before he was in politics and apologized privately and publicly, in fact, today they talked and seems the Pope is finally visiting the coutnry. I dont think he would be able to improve anything in Argentina but you should be a little bit more objetive or double check your sources. Someone who understand spanish should listen to the interviews and not an abstract from a newspaper.
His plans WILL reshape Argentina (whether for the better or worse can only be speculated at this point), but they will cause a pretty large amount of chaos during the transition period, which may take 5-10 years to fully settle out. If he's going to be able to do this successfully, he has to prepare the people for that disruption and it has to be handled very carefully. This is a case where success has to be built on success. He has to do this in successive layers in order for it to succeed the way he wants. If he tries to move too much at one time, the infrastructure some of these changes will rely on simply won't be there to support them. On Dollarization, I am not so sure that's a good idea because of problems with the dollar is presently having and might have in the near future. It might be better to tie it to the Swiss Franc rather than the Dollar.
I agree usd actually is not the best currency to switch to (probably MXN or BRL would be better choices as they are being appreciated compared to the dolar), but Argentinians think of it as a value reserve (because the depreciation compared to the peso is small)
Smartest thing he could do is cancel all the Rube Goldberg subsidies and benefits program (e.g. electricity subsidies), turn them into benefits checks, and then keep those checks within a reasonable budget
That's realistically their only way out, Milei is gonna go for the low hanging fruit but it's impossible to fix the budget without cutting subsidies, which is unlikely considering 70% of the population uses them and will never give them up.
Announcing that your country's currency will soon be worthless and telling everyone to adopt the dollar sounds like the perfect way to make what actually remains of it in circulation completely and utterly worthless instantly... seems strange he would telegraph that when it doesn't sound like they are anywhere near ready for this move yet.
The dollar is already used for purchasing a house or car. The people convert their money to dollars as soon as they are paid. It's not like a normal country .
The Argentinian peso IS worthless, everyone knows it, hell even the rest of Latin Americans laugh at Argentina for how worthless the peso is, since before Milei was even a presidential candidate.
i mean actually worthless in the sense of having no dollar value whatsoever becuase it's no longer a thing... such that if you printed a note with a billion or trillion pesos written on it your exchange value would be the that of the paper and ink.@@idunno6479
In the 1990's, Argentine Peso was pegged to USD. The issue is still that Argentine people needs to be prepared to do their bit and make sacrifices to get economic house in order.
01:54 Actually, Argentina was a democracy from 1862 to 1930, or from 1880 to 1930 depending on context; but definitely not since 1983. Also, there are two more coup d'État missing from the list, both from the late 1980s.
It will take a long while before Argentina becomes the 10th largest economy sir. Get a comfy chair and wait... or better yet, get in a Cryogenic Chamber😂
As a Chilean, I do hope Argentina recovers and become as succesful as they can be, not only because their current state is so terrible, but having them as rich neighbors can only be good for us. Thing is, Milei's proposals (which I doubt he can do considering his minority at Congress) would entail so much pain and chaos as Pinochet's neo-liberal measures did here back in the 1970s. Those reforms created a terrible economic crisis in 1982, when a huge % of people lost their jobs. No doubt that would also happen in Argentina. As a note, I know so many people think Pinochet's economic measures "saved" us, but in reality our GDP did horribly until democracy came back in 1990 and we could reform the Constitution and starting implementing some social-oriented policies. Even then, reforms weren't as deep as they needed to be, and we still are grappling with that. A radical neo-liberal economy simply doesn't work; there's a reason why Chile has have huge social unrest in the last decade...social inequality and a lack of accesibility to things like good health and education for the lower-class are real. As you say, Argentinians will probably reject the pain these reforms would create, even for a promise to be developed in 30 years, as Milei says. In our case, because Pinochet was a dictator, people couldn't really oppose the reforms...hopefully, Milei isn't thinking about that. Still, Argentina can learn from us; Chile nowadays is an open economy, with a lot of free-trade agreements, a responsible fiscal policy, an independent Central Bank, public-private partnerships to construct public infraestructure, etc. - all things they lack, and that have been good for us. But Milei seems to see only the good side of liberalization, when in reality it also has a -big- bad side. PD: There's an additional reason to oppose dollarization: organized crime. In the last few years transnational gangs have been wrecking havock in LatAm, and one of the worse cases has been Ecuador, precisely because of dollarization. It makes money laundering easier!
As an American, dollarization without entering in to a single market with us where the Fed can act as a neutral creditor for both states - is a horrendous idea. I’m all for common currencies and hopefully an EU-style agreement across the Americas & Asia-Pacific in the future but a lopsided emergency dollarization just puts all of the risk of both US and Argentinian currency and policy fluctuations on Argentina.
@@zandaroos553agree! It has so many downsides, I get Argentinians already use the dollar for so much, but outright dollarization is another thing all together. I don't think the US would be happy at all about it. Plus the organized crime side of it is pretty serious; most countries here (including mine, Chile) are dealing with a huge spike in crime because of transnational crime, and dollarizing would single out Argentina as a sweet spot for those gangs to operate in.
@@ziedyacoub8488 There is still no argument why the neoliberal economy does not work and the reason is because it simply is not true. The data is in. People act like if economics is not a field of study. Chile’s problems will only get worse as they move in the socialist direction. I know Cuba and now I know America. In Baltimore, there are 0 students proficient in math while spending 21k per student. That’s the government for you. Just an eternal cycle of stealing. It runs well until it does not.
@@NaSaSh1087 Dude, it’s Argentinian politics, *anything* can and will happen. Right now they have a president and vice-president who hate each other, and who haven’t talked to each other apparently since forever. I’m expecting things to get very saucy between LLA and JxC in just a couple of months, because both movements are simply incompatible at a fundamental level.
@@Ildskalli But both JxC and LLA want structural reforms and both of them hate Kirchnerism, they are divided on a number of issues like how to implement the reforms but united for Capitalism, Pro Westernism and especially against Kirchenerism. The run-off proved this, they were divided at first but when the time came (that is when one of them got eliminated) they united big time against Left Wing Kirchenerism to the point that JxC presidential candidate went to the Mega Cordoba rally of Milei in a bid to promote unity against Kirchenerism and Macri multiple times online adviced people to vote for Milei. After October 22nd, when Massa won experts believed that Milei needed 70% of Bullrich's votes to win the run-off and thought it was next to impossible after how badly Bullrich and Milei fought but we all know what happened in the coming weeks not 70% but almost all Bullrich voters went against Kirchenerism and for Milei.
@@NaSaSh1087 It's easy to join forces during a campaign, especially if you have a common enemy. Actually governing is much, much harder. Just wait - you'll see JxC and LLA attacking each other very soon.
What fixed Brazil was not the parallel currency but selling state companies to raise money to increase interests for said currency. Interest rates for the real were so high some companies closed their operations and invested in reals as their only source of income. Argentina can't do that, they have no money.
When i learned what a libertarian was like 2 years ago, i thought: ‘that sounds like some sort of capitalistic anarchist… an anarcho-capitalist if you will- i wonder if that’s a thing?’ Lo and behold-!
@@abaque24 a libertarian understands that the government has a legitimate function and needs to exist in some capacity to ensure the market stays fair and that the roads are built, an anacho capitalist rejects the idea of the state completely and wants to get rid of it for good
Argentina is a broken nation. Their only choice is to suffer and reform themselves as Miele hopes to do...or they can keep themselves on the debt train for unsustainable short term floating and drown as the system falls apart. There is no easy way out. The result of a century of bad politics. I hope Miele can guide the Argentine people through
Iam Argentinian. About dolarisation, Milei said that is only to change current pesos for dollars, after that, there will be full free international currencies competition, that means every single currency on the world will be legal to use inside Argentina with their current market value for absolute everything, so that, if some day USA enter in a crisis, we ditch dollars and use other more stable currency.
This does sound mental, and that doesn’t even include the fact any peg would come under speculative attacks almost immediately. But hey ho it’s gonna become an economic case study quickly
This does sound mental, and that doesn’t even include the fact any peg would come under speculative attacks almost immediately. But hey ho it’s gonna become an economic case study quickly
Go and make stupid opinions about your own country, if you spoke Spanish at the very least you could go and watch his interviews and know he doesn't propose to eliminate welfare nor subsidies aimer for people that struggle economically
I speak spanish, and I have seen his plans. On the short term he is promising to chainsaw many subsidies, not directly to struggling people, but indirectly. Subsidies on products they use, therefore still messing with them. @@bonaaq86
MAJOR ERROR in this video: He was listening voices because IN FACT there was people talking in the studio (mics didn't reach that far), it was thet clarified by the interviewer.
Javier Milei, regardless of the record of his presidency (likely to be hampered by the legislature), has tremendously improved the basic standard of economic education and discourse in Argentina, which will literally save lives.
Remember, when a business is drowning in debt, every turnaround CEO worth their salt will cut spending. When a politician wants to do the same thing, it’s an “extreme” policy.
Cut spending or say the Falklands belong to Argentina and start a new conflict? :) Let's see what the guy who wants to open a marketplace for babies will do if he's soo "Not extreme" and how many people will die.
@@maximipeits kind of logical, the company cuts expenses and fire employees so it can stay afloat. Same should be with a country, sadly some people will get left behind so the majority benefits. There are studies that show that the worst thing a company can do is reduce wages for everybody instead of firing some people, since the discontent is bigger, same as in a country when you are trying to finish you governement and get reelected you focus on the majority. Argentina has 7 points of Deficit, an inflation of 150% (borderline hyperinflation), 60% of Children in poverty, 10% of homeless, etc. They are in a dire situacion, so you inevitably will have to leave some people in the dirt so the majority gets better. Everybody would prefer not to take those steps, but they work. Chile, the Nordic Countries in the 70s, Ireland in the 80s-90s, Spain in 2010, etc.
What's your proposal but cutting spendings? Cause anything but that we already tried, inflation? Done, debt? You bet, raising taxes? Of course. I don't really know what could you possibly do if you spend more than you earn and have no capability to earn more than that short-term. It's really easy when you want to make policies in the US, just get more debt, that's not the case for everyone
I don't think he did so bad. But for real, one time I heard a British professor talking about the etymology of the word "macho" and he said it like "mack-oh" not even exaggerating
removing subsidies and privatizing low productive public sector companies and opening up of economy for investment will itself will do..but ditching peso ll b disastrous..
A devaluation of the peso implied or forced would mean bankruptcy for all Argentinian banks holding leliqs. By now the leliq debt is past the point of no return and the quasi-fiscal deficit would demand a devaluation of the peso for things to really change
But it's important to point out that he's not an Anarcho-Capitalist, but he is *philosophically* one, since media keep simplifying this and it's just wrong.
Better than the lazy far-right label every mainstream media org is using to try to smear him, surprised TLDR didn't use it as well tbh given their propensities.
Well, this is to say that he dose not believe in implementing it on the spot right after he gets sworn in. It would be more accurate to call him a minarchist, which is to say that he wants the state to be as small as possible and basically take care of security (police, military, etc.) and the court system. In fact the clip that people use as a source of him being an "anarcho-capitalist" is actually where he says that in "real life [he is] a minarchist". I'm quite sure the only reason people/media say that he's an anarcho-capitalist is to scare people. Because both terms are though of as "bad" or at least unpleasant to most people. @@GoyFromFinland
@@Dr.Oppenheimer-Style To be fair most people wouldn't know what a "minarchist" is (they'd probably get it confused with "monarchist" or something). The media has to be accurate but it also has to be understandable by its audience, there is a trade-off here.
People don't know how good they have it until they get a dose of right-wing policy. Everyone takes basic things, like electricity and being able to remove a politician, for granted.
Austerity and Privatisation may be short term fixes to government debt and deficits, but in the long run they lead to economic stagnation and a loss of state assets and revenue.
It doesn't even fix short term debt and deficits. Whether government spending works depends on what and where is the spending going. Internal and external factors can change the results, but ultimately 'something' is being actively done on a national level. Austerity and privatization basically means government is reducing role in with involvement, which ultimately means any economic activity that happens, does not service the public at large, be it short or long.
@@nancode Austerity always lead to more disasters. If people and state have no money to spend bc of austerity, there are no longer customers for corporations, meaning they go down as well, leading to a spiral of economic decline.
Kings, Queens, Feudal Lords, Earls, Counts and Dukes have renamed themselves and have become Millionaires, Billionaires, Plutocrats, Oligarchs, Shareholders, and Hedge Fund managers.
Something that repeats itself after election is that voters forget that parliament is where reforms must have a majority in order to be implemented. The spontaneous joy is therefore soon after replaced by a new discouragement. Democracies are reformed when there is a major crisis, until then they model through with the opportunities at hand that are gradually diminishing.
We (argentinians) are constantly in a major crisis. We had a catastrophic crysis in 2001 and nothing changed. If Milei comes and goes without changing anything (for better or worse) I fully give up that this country is redeemable in any way, shape or form.
@@gianb3952 You know that better than I do, as I don't have my everyday life in Argentina. I just wonder how the last election results go from left to right and the voters can't see that financing public spending by printing money is not a solution. It's going to depend on what can be voted through congress, but libertarian politics is working, but it's going to be tough before it gets better. Stay strong!
@@Vitorruy1 You're right. That one is one of the flaws in "big" (geographical) democracies, where you have to drive over the edge before you can start over.
imagine if he was openly saying that he wants the country or the majority of the people to do worse - as if there are politicians, who call themselves anarcho capitalists, who openly say such things
It was a huge problem on this election. The moderates who would not change a lot, the finance minister that would fix the problems he created or something different
I always laugh when people say "self described anarchocapitalist". Is there another way of being anarchocapitalist besides self describing you as one? People don't know anything about libertarianism and anarchocapitalism and come with these sentences. By the way, Milei's plan has nothing to do with anarchocapitalism, if you want to criticize us, look at Próspera in Honduran territory. That's a private city. That's ancapistan in real life. What Milei wants for Argentina is just common sense.
Many of the stuff he wants to implement are on the list of stuff underdeveloped economies should do in order to become developed economies. Energy subsidies are a fatal error for example.
Actually subsides grows economies rapidly which is why most of the rising economies and those heating developed nations in terms of economic complexity and innovation are often mixed economies and focus on SME business for large portion of business operations and the remaining split between governments and large corporations due to nature of business or profits.
@@teamjam2863but that growing becomes dependant on subsidies. Bolivia tried to end oil subside and people and unions stopped it. Now it's one of the main causes govtn can't balance it's budget and probably will take debt or devalue the currency.
Cutting ties with China and Brazil because they are 'communist' seems like a stupid move for Argentina at the best of times. But when Argentina's economy is a disaster like it is now, cutting off ties with some of your biggest trade partners seems like madness.
When the Brazilian economy is getting worse by the days and when Chinas economy is based on lies manipulation and pression.Nope thats the best moe theycan do
@maksekart7162 I'm not sure if the Chinese will see it that way. They don't like criticism and they are willing to sacrifice a good deal of business with a country that criticises them. Australia found this out in 2020.
In regards to guns, he wants to uphold the ALREADY EXISTING gun laws in Argentina, which are not being respected by the government. The "organ market" thing is fake, he talked about it from a personal POV but will never create such a thing.
Well TLDR too is sort of a wanna be VICE type left wing news platform. They very conveniently avoided even using the word “socialism” throughout this video even though that’s what caused many of Argentina’s economic issues.
How on earth does this guy expect to make money from the oil industry if he further privatizes the oil industry, that's just going to result in foreign capital being transferred to the US, and Europe.
If Argentina plans on shifting away from China and towards trade with the US. Dollarisation sounds like a good strategy. Exporters will also have an incentive to actually produce and export their goods since there are fewer barriers to trade.
I'm not a Libertarian but I do respect Milei wanting to improve his country and I feel for his fellow Argentines. I don't know how he can fix Argentina but I hope he succeeds.
just to comment on the 3 main problems stated in this video: 1st. Milei doesn't have a majority in parliament but neither the opposition nor any other party, so there is still the possibility of reaching majorities through alliances. 2nd. Argentina doesn't have dollars reserves in the financial system, however Argentinians have CASH more than 250 billion dollars as savings being the second country in the world with the most dollars in cash more even than the US. the reason is that cronic inflation forces people to save by buying dollars so technically the economy is already informally dollarized. 3rd. Dollarizing is not giving away the control of the currency because it is quite obvious that having 140% annual inflation is already a lack of control in your currency, and this is not the first time. pretty much it has been like this for the last 80 years. just to bring some more depth to the discussion, greetings from Argentina, VLLC!
@@Kalimdor199Menegroth Because people who need healthcare are not in the position to shop around and compare, and as a result a for profit system turns into an extortion game where the outcome only favors the rich and the overall expenses are on average much higher than universal access systems, with overall a much lower outcome. Every single piece of research on this matter has validated that outcome. A society benefits when everyone has access to healthcare on an equal base.
@@enigmusII Not all private healthcare is bad, it depends on how it is implemented. For primary healthcare, the "Direct Pay Practice" could work quite well and is affordable. This video explains it well: ruclips.net/video/bGZaRnC1wNg/видео.html
The begining of the video, got me laughing very hard. That Argentina is on a category of it's own doesn't surprise me (it's actually sad) but the fact that the world pays atention to us is somewhat refreshing (we matter) 🥰 The only thing I have to correct you guys in the begining is that, Sergio Massa, even if he went to the election using the Kirchnerist (what passes as "Peronist" this decade) machine in the background, he never was a Peronist. If anything, he's a "Massist" (not a Peronist). Politics in Argentina are somewhat harder to understand for people from outside, sometimes even for people inside too. Many argentinians believe Massa is a Peronist because of the alliance with them in this last few months, but in reality, he isn't (we call him a "panqueque", a pancake if you like). :) Personally, I still can't believe Milei got the election last Sunday. Even if I despise Massa, I think he was a better fit for the presidency (for starters, he's a polititian, while Milei is an economist), but also because even if Milei is mostly pro-market (and that's where I work and get my money), the rest of his agenda is... terrible, at all lenghts. The sad part is very few argentinians have enough critical thinking to understand that (my people is VERY short sighted and with short term memory). 😥
Yeah, the majority of the population are stupid, unlike you and the people who voted Massa. Condescending much? And just because someone has political experience doesn't automatically makes them fit for president. Look at the last 20 years. Beside, Massa is already a failure as the minister of economy. So why should we think he would be better as president?
oh yea massa is better because it wasnt enough the 140% inflation and 40% poverty that he and the previous 3 other minister of alberto fernandez . it also seem it wasnt enough 4 years of mediocrity from alberto fernandez and you just still want MORE by voting the mediocre current minister of economy that threw a tantrum and "left" his work to rest. have you ever heard the definition of insanity? of doing the same thing over and over and expecting a different result?
@@FZJanimated yeah, Argentina always blame poor people for his bad economy and vote conservatives who take loans, gift natural resources and never fix the problem
@@FZJanimated Yes, you are right about the mediocrity, and you are right about the definition of insanity (it's a quote from Albert Einstein). I'm not waiting a different result from the same person. But Massa isn't an economist. He shouldn't have been the minister in the first place. Why he accepted that position to begin with, I can't even comprehend. The truth is, from my point of view, there wasn't ANY good choices in this election. In October I went with Schiaretti for president, and the left for CABA, knowing neither would win, but of the 3 that had a chance to win, all of them were bad choices (and yes, Milei is a really bad choice). And NO, he isn't a bad choice because he thinks Tatcher was great, or because he thinks we should be able to sell our organs. Those are points of view, and I can accept people thinking differently (most of my family are K, and parties are always awkward for me, since I'm anti-K to the core, and they know it, so we have an agreement about NOT talking politics when together). No, Milei is bad for the country because he's in love with what's wrong in USA, the things that make me say "I wouldn't live in USA even if they'd paid me to be there". With Milei, your boss can fire you just by saying he's firing you, and you won't have any support from the state to fight that. If you have someone in the spectrum in your family or a friend, they are screwed, because with Milei the health system won't help you if they don't want you. The state won't be there for you either, even if the healthcare of the citizens depends from the state (constitutionally speaking, you can go read articles 33, 41, 42, 43 and 75 (points 22 and 23) in the Constitution, if you want to check by yourself). It isn't a provincial matter, it's a state matter, but he want's to leave everyone by themselves to fight without help against OSDE, Swiss Medical, Sancor and all the other pre-paid heath services (because that would be the only thing we'd have left, since he said back in the begining his plans to eliminate sindical health care system, what we call "Obras Sociales"). So you either pay a lot for your health (and most people won't be able to) or you die. That's the health care system that they have in USA. The system that both medical workers and the public in USA say "sucks big time". But the corporations that move that system pay A LOT to the polititians to stop them from changing (the way Obama tried). And don't get me started with the weapons. So no, I don't think we had it good with this last four years, and a lot I fought with a lot of people that defended the terrible things that happened, but I have enough foresight to predict that what comes with Milei is a lot worse than what people even imagines. But that's my opinion. Hope you can accept that for what it is. :)
I often feel like political coverage of Latin and South American countries tends to focus a bit too much on the presidents. It's easy to forget that these countries have very American-style political systems, in which the Congress has a lot of power and can oppose, slow-walk, or even impeach the president. I feel like in recent years, tensions between presidents and congresses who hate each other has become a pronounced theme of Latin and South American politics, and it's why no matter how wild and flamboyant the president is, or how extreme right or left he is, the big problems never seem to get resolved because there is no broad public consensus regarding what should be done.
My favorite Canadian lol
wild
Award winning comment right here
this is why the people who actually get things done are the political cunning who seek consensus and negotiate with their opposition. Instead of the crazy idealists.
@@stevestrangelove4970this is not actually the case for LATAM.
That is the other side of our political game. We have no parliament, we have congress... Ironically, we don't now how to parley. In the majority of issues, the outcome is determined by the will of the party. 8 hour long hearings before ballots are cast are useless, since no one will shift their ideologically driven positions. There are also far less "díscolos" (don't now how to translate, google says it's "wayward"). Hence much of the executive's actual power to do stuff depends on how congress seats are distributed in relation to the president's party or coalition.
In Argentina's case this is specifically difficult because Miley is not only an outlier, but also because congress is a mid-term election
If nothing else, its a good case study for the rest of the world. Good luck Argentina
There have been enough studies on extreme-right weirdo figures, especially ancaps.
It always ends with people dying and some weird awful pdf file thing.
Same, I'm young and I will take Argentina as one example of how I will form my political opinions.
I’m sure world’s powers will try their best to not let Argentina do good under him.
Eh, he probably wont get any of his laws passed, and wont be able to make any changes because of beurocracy and unions etc, the country will keep getting worse and a bunch of idiots will just be like "seeee capitalism doesnt work"
@@jadenngo1941It's an example of what not to do and a reminder that all hope is gone when anyone becomes as stupid as the Argentinians.
A small correction. That video wasn’t his victory speech, bu tone of his rallies. In the actual speech he was quite calm.
Also, they neglected to mention Perón positioned himself politically by taking part in the coup of 1943.
@@jan-willemvankaathoven914also they didnt mentioned that Peron was HUGE nazi sympathizer
Edit: and that also his victory was helped by the past strong opposition the current goverment, making as he is as ancap as a president can get but his team is a lot more center than people think
Also this channel seems to be runned by people more welcoming of socialist goverments but hey i might be just a bit biased considering im an antifa, therefore antiperonist and the only thing this guys did to summarize the only real hope argentina has against the literal family bussines(or mafia) that has run this country for the last 20 years is "he is literally crazy and a menace all his proposals will fail(in kinder words"
He definitely had or a few good coaching sessions or a large dose of Rivotril
Pp
even more, the organ market isnt like that image of a paper, it was a trick question to generate titles, he isnt pro gun, you can get a gun in argentina but cant walk with it, he want to make it more clear to get a gun nothing more
I guess it's not that surprising that the response to an ideology as odd as peronism would be equally odd
He is not that odd when you consider how f7cked argentina has been
Anarchocapitalism is not odd at all. And soon enough, will be common sense for the vast majority.
@@nancodeif you think that capitalism can survive without a state to maintain it as an institution then im sorry but that’s not just weird that idiotic. Assuming he gets anything done in Argentina you will just have a new US puppet in South America
@@nancode good luck with that and your lack of safety standards, buddy
@@nancodeoh it's more than odd, it keads straight to dictatorship or revolution, as soon as first fruits of the system come in, it's just modern word for feudalism, only idiots can think that can work with humen race, same like communism, like greed and deceit and every type of low moral behaviour don't exist.
"The central bank is the worst thing in the universe" that actually cracked me up 🤣
From a statecraft perspective, he's right. A nuclear war might be worse in the short term, but not over 100 years.
@@dansands8140lol at you passing off your fringe opinion as some kind of fact. Let’s see how Milei does
@@dansands8140wtf? A nuclear war can leave land and water sources irradiated and barren for millenia, if the governments collapse and there is nobody to conduct cleaning after this proposed war. Let's leave it at simply voting smart instead of going on the wayside.
@@seadkolasinac7220 You literally have zero evidence that a central bank is a constructive force except "trust me bro" from crony capitalists. Meanwhile I can show you an infinity of graphs where number starts going down when the central bank takes over.
From the argentinian point of view, it kind of is, its the main responsible for their wages being worth nothing
It's easier said than done. Let's see what he can actually DO. Hope the best for Argentina. The people who get hurt from massive inflation are mostly from the bottom and working class
Lo unico que dejara de aumentar son los salarios ,los precios seguiran aumentando hasta q el consumo se desplome y entonces diran q controlaron la inflacion,son unos genios estos nuevos "anarcocapitalistas"..
La unica teoria del derrame que funciona es el derrame de miseria
everything is easier said than done
Exactly, but people should be shown and hopefully explain that whatever the new president has in mind will only hurt those that have so far been living off of the working people. The drones (or "gnocci") , those that get the "Work Plans" and are actually the bulk of the "weaponry" the syndicates and the government uses to show why they need to increase some governmental expenditures, it's disgusting. Of course now they are all in a panic and threatening to "paralize the country" with strikes and "marchas" and whatnot, the usual cr*p. Hopefully the announced strong attitude against any non-constitutional movements might actually be stopped within the law. So we the poor will not see a big change in our situation, until a few months more, there are things that can't be changed or stopped until other equally damaging situations are fixed. It's a hell of a job and I pray that he could be allowed to do it.
Hurt thanks to socialist government
notice the only people protesting now are his political opponents that don't want change because they are better off rich, abusing the loopholes of the previous administrations
When talking about dollarization, you should have brought up El Salvador and Ecuador, both of which have already dollarized their economies.
Dollarization failed in el Salvador because after dollarization debt was 30 percent of gdp in 2006 in el Salvador but in 2023 debt is 73 percent gdp and it will reach 98 percent of gdp in 2028 in al Salvador because of dollarization el Salvador will bankrupt in future that why el Salvador try cypto as a currency but failed crypto is super volatile 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
I hate the way you type but you're right @@debiagungte9466 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
@@mycodingchannel9690 el Salvador should use safe stable coin like thether but el Salvador govt is stupid idiots 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Venezuela is very suis generis on this issue. It's not officially but almost de facto dollarized.
@@TR4R
It owes debts denominated in dollars & relies on oil sales to make those payments
We’ve embargoed Venezuela oil.
Argentina now owes foreign denominated debts.
So this idiotic “leader” wants to give up his country’s ability to issue its own currency
Feed the Argentinian people to US corporations who wants to strip Argentina of its natural resources.
I’m sure that’s all gonna work out well for both American & Argentinian elites.
Not so much for anyone else
Honestly they’ve tried and failed for so long at this point that they might as well try with Milei, if nothing else it could be a good case study for this mix of conservative and economically libertarian policies. (edited/fixed from just “Libertarian” since it isn’t totally accurate.)
If the public can stomach any short term chaos. Voters can be extremely fickle.
But hey, they stuck it out with the disaster socialist policies for so long!
Until the libertarians start saying "it wasn't real libertarianism" when it doesn't quite work out like they hope
@@candiman4243 I don't need to start, I already started saying that, he's not a libertarian. He wants to bar abortions, continue the ban on gay marriage, continue to criminalize drugs, and desires to operate top-down unilaterally instead of favoring voluntary de-centralization polices. This is a man with personal grudge against the central bank.
Yes but on the argentinos skins... where I am from this is called "to be gay with someone else's @ss"
@@nanochase He's both an economic extreme liberal and a social extreme conservative. That's the recipe for "poor and different people would be even worse and rich people and multinationals will have the best time of their lives"
He didn't dance on stage on his victory speech. He had a very serious and measured attitude
he waved a chainsaw in campaign
@@poribrutal i know, what does that have to do with the victory speech?
I cant say I agree politically but this will be an interesting case to follow none the less. I wish him the best of luck, he might need it.
Based
It’s either gonna be a case study of how to fix inflation or how not too.
@@genericperson753 We´re the always the example of what not to do, I don´t think that´s changing anytime soon
He will most definitely need it.
@@genericperson753Is there no previous examples in history?
"Economists sometimes say there are four types of economies. Developed, Underdeveloped, Japan and Argentina"
Now I want to know why Japan is singled out here.
If Argentina’s problem is inflation, then japan’s problem is also inflation, or rather the lack thereof
And then there's tax loophole Ireland
Japan has been stagnant for 20+ years..
They haven't been able to cause inflation for like 20 years. They have like 260% debt to GDP ratio and still kicking.
Economies have an ebb and flow, they grow and shrink over time. Develop countries manage to have huge growth followed by little constriction. Japan for ~30 years, despite being a developed country has neither grown or shrank. It just stays the same whatever they try and do
You forgot to mention that peron was also a military general, came to power as Vicepresident and minister as part of a coup, and was the light and argentinian version of Franco and Mussolini. His economic policies can be resumed with one word: corporativism.
Also you forgot to even mention the Kirchners, who have dominated politics in Argentina since 2003 and have aligned the nation with Venezuela, and Cuba in the regional level and China, Russia and even Iran on the global scale. The ex-president Cristina Fernandez de Kirchner is convicted for several corruption scandals and she's the vice president of the Alberto Fernandez's current government.
He forgoth a lot of important things. Thats why is very important to check your sources and their polítical stand.
Well he could have mentioned a lot of things. He could have also stated who Peron's parents were and we would have a 30 minutes video but they chose not to.
No, it's not a minor thing@@KamiInValhalla
He specifically talked about the numerous coup d'etat this country suffered, but ommited the one who gave birth to Peron himself. ¿Why mention the one who
toppled his wife but not this one?
All the funny jokes about Argentina being full of Nazis are BECAUSE of Peron and his political aligment on the global scale, not because the "right winged" parties.
Franco and Peron are waaaaaay different, Franco had little to no ideology and he got rid of the falangistas (spanish fascists) in the government and replace them with tecnocrats after 5 years in power and had a somewhat free market system
Peron on the other hand was openly socialist, created the modern Argentinian "economy" and even had dealings with marxist militias
Of course, but when Peron was exiled he exiled in the Franco's spain for decades@@Mrlighthouse1000
He used the left to his favor, and ended up ditching it (the famous sepeach when he "kicks them out of the Plaza"). He died and Isabel was left in power.
some may say this is the biggist social experiment since the collapse of the USSR
tbh this is some peak essay material for any social/economics subject students that is having a hard time trying to pump out some work
the biggest and failing social experiment is wokeismm
Agreed！
They did this shock therapy after the collapse of USSR , the result was people not even able to buy potatoes to eat 🤣🤣🤣
Sh1t, might be good time to start a carrer in economics.
Argentina needs to remove the ability of elected officials to effect central bank policy, that's a big issue here. Most developed countries have central banks far enough removed from the political system that they don't deal with the pressures of every day politics and thus can make independent decisions for the good of the economy, even if they're not desirable for the incumbents
Aligning with standards doesn't make it better. For what reason are the standards better?
Countries like China, South Korea and Australia don't have independent central banks. Their growth has been much higher and inflation has been much lower.
Besides what is central bank independence? The Fed itself has long had a dual mandate - to keep inflation down and to ensure decent growth. Where there is some tension between the two aims, the Fed has to make a judgment and would usually listen to the views of the administration in the White House. Like right now.
Like America
Oh
The American central bank didn’t like trump and openly supports biden
Hey im from Argentina, the problem here is that the corruption is SO BIG u cant even imagen so having a central bank is not a good idea, yea u can have a goverment that dosent exploit it but goverments change overtime and thats the thing, the history of inflation in our Country is a cicle every 20 or so years.
Exactly, their central bank needs to be reformed to become actually independent, but MIlei goes to the extreme of wanting to eliminate it. This is very dumb for so many reasons, countries need a way to affect monetary policy, hold reserves and issue bonds, closing down the central bank would only move those responsibilities to other institutions.
@@Joaquin-rd3kmthe central bank in Argentina is already supposed to be independent, by law. In which other way would you enforce it? Most of us, who vote for Milei, agree that the central bank by itself it’s not the problem and that It’s not inherently bad. The politicians that run this country are the ones who are irresponsible, and we want to take that power away from them. Milei may be financially more responsible than past governments, but it’s guaranteed that Peronist will eventually come back, and we cannot allow them to destroy the economy again.
Why is nobody discussing this talking about the congressional election? Argentina has a similar separation of powers as the united states and Javier's party does not have a majority in either congressional house. There's no doubt that his more radical policies will never become laws.
They did mention that in the video.
That's where one little latinamerican trick comes into play, a surprise selfcoup.
they allied wuth the other major party, JxC, in the elections. So thankfully they have a little more control over it
milei is semi-allied with Macri, so he has a big part of the cambiemos party
@@scarysticks66 First, Cambiemos (or as it’s not called, Juntos por el Cambio) isn’t a party, it’s a coalition. And Milei only has the support of the PRO (Macri's party). He still doesn’t have enough deputies or senators.
I live in Argentina, and I just want to say that Milei didn't start hearing voices as you suggested in the video. There were loud noices in the studio when he was talking.
Also his opponent (Sergio Massa) used state money for a fear campaign where you could, for example, see videos of children using guns to shoot other children and then you would read "with Milei this could happen". People from the government went to different schools and universities, saying that from now on, you could pay with your organs and suggested selling the eyes because they are very valuable. And they did much more, including spending millions of pesos in Google ads with lies. Peronistas will do anything (possibly even selling their own mothers) to stay in power.
They didn ‘ t make his homework 🤥
I wonder how many Google ads could be bought with just millions of pesos. 😆
@@guillaumeroy7528 En youtube eran constantes. Ya no eran videos de publicidad, eran anuncios de la campaña del miedo de Massa. Llegó a cansarme. La semana del 19 fuimos invadidos de anuncios. Insoportable.
@@guillaumeroy7528politicians don't use pesos here, they're corrupt not idiots
@@guillaumeroy7528They spent 8 billion dollars in this campaign! Can you imagine in poor country spending that much money on the elections? That's why Milei won
Moral of the story:
Don't spend money you don't have.
Don't borrow money you can't pay back.
Don't pay bacl debts with more debt.
Moral of the story dont barrow from IMF and dont accept they terms
@@RedeemedPaladin noone forced Argentina to take loans.
Every loan has terms and conditions that's a ridiculous statement.
Amen
@@RedeemedPaladin Nothing is free in this world. Creditor countries needs to have something to gain in the form of a new export market and most importantly make sure it will be paid back in fully by having the debtors make structural reforms to their economies. Moral of the story is don't borrow money you can't pay back.
@@carolean4360 its IMF, if your country take loans from them it is client state and not sovereign nation, they already were testing ground for all sorts of "free market" reforms, now according to plans they just gonna dissolve most of social security part of government
Honestly, if this guy succeeds, I'll have to meet those dogs.
They're actually all clones of a single dog. I'm for real, look it up.
The dog thing is just an irony. It's the same thing with the Birds aren't real money movement. He called one of his dogs Murray, as a way to honor the memory of Murray Rothbard, an anarchocapitalist economist. So, yeah, he asked his "dog" for advice. It was a joke, but since the left can't meme, no wonder they try to use this against him.
@@nancode it's not a meme, he told it to many friends and had to make a joke about it when it became public
@@nancode and the fact that he cloned them was even publicly confirmed by him
@@nyandya But he did clone his dog. Personally, I thought about doing the same with mine, but it's very expensive. The point it's that people are taking his personal experiences and also jokes he made, and using them for diffamation and fake news. He does not as his dogs for advice, it was only a joke. And if he clone his dogs or not, it shouldn't matter. He is just an uncommon guy, using good old common sense to try help Argentina's economy get back on track. I'm a Brazilian, btw, and also an anarchocapitalist, regardless if you like him or not, people are just lying about him.
5:35
As someone who's outside Argentina and therefore has little hope of understanding if this was a joke so bad it hit his campaign or if he was actually having auditory hallucinations.
If it's gonna be brought up more clarity on that is needed.
It wasn't, he, as a ancap is a fan of Churchill, Regan and yes Tatcher
While he was giving an interview in tv he stopped and asked for the people behind camera to stop talking because it was difficult to give an interview with people talking behind him but the mics didn't catch any one speaking and the people on that tv set claim it was silent so who knows.
I've also heard he hired a medium to speak with the ghost of his dead dog so go figure, people like to talk shit and the fact that he looks and speaks like a crazy person doesn't help lol
@@emilianocichanowski7894 So he is a good guy then.
@@Abyss-WillI'm pretty sure that the "speaking with his dead dog" thing was invented by some dude that hates him on a book or something like that
@Abyss-Will what are you on about? The host of the show himself publicly apologised to milei for the noises. He explained that due to a strike there was more people in there than normally to cover for the people missing and that they were the ones talking. Hope it was an honest mistake on your part and not an attempt to discredit milei
It would be interesting to see if an "anarcho - capitalist" can turn this around
They never, ever, ever do. Or they do briefly, before everything goes on fire and then they scapegoat minorities. This isn't a new thing, the results are entirely predictable.
He will not. He's going to probably be ousted by a military coup at some point in the next few years. He doesn't plan on just going to some regular capitalist system like the US has, he wants to gut EVERY government program and tax. The roads and municipalities will crumble under his rule and it's going to be hilarious to watch from the sidelines. He's the first "Anarcho-Capitalist" world leader and he'll show everyone how it DOESN'T work. What will be even MORE hilarious is how capitalists will whine and moan about how Milei "didn't do it right" just how they meme about how Socialists say Socialism wasn't ever implemented correctly.
I just wonder what's "anarcho" and "capitalist" about him.
@@lotwarhahaha Get a book and learn about us kid. ⬛️🟨
Indeed my friend 🟨⬛️
As an argentina i really apreciate the care and work you put into this topic even if some details are off.
I didnt know there were multiple argentinas
@@Cubicflow I identify as an Argentina too
Better use that education voucher
Mi más sentido pésame Argentinos
Dude how can you praise this video? Everything he said about Milei is patently false and part of Massa's misinformation campaign
I'm argentinian and I've been following this channel for years. Almost everything said here is correct, maybe with the exception of some minor details. Something important that everyone should know is that Milei is not a politician. He's an economist and had been working on that all his life. A couple of years ago he started giving interviews taking about economy and two years ago he was elected for "Congress". His opponent's campaign had at least 10 times more money spent on it and still he got elected with a 12% advantage. It would be interesting that you research on the details of this campaign and you would be horrified. Thanks for the quality content guys and mi best wishes to my fellow Argentinians in this new adventure, far far from the left
Do Argentinians agree with the dollarization?
Good luck walking off that cliff my guy
@@davidfleb Most polls suggest that dollarization and the closure of the Central Bank are his most unpopular measures, but its too early to know if people will accept it when the moment comes
He is a panelist and a pundit with a tittle; being that said Argentina is an extremely inestable country and Milei is chaos, Libertarian, free market chaos but chaos nonetheless.
Argentina is stupid. The USA has made Argentina poorer now it comes back to the USA again. LOL
@7:17 - Argentina's Currency to USB (I believe you meant USD instead).
A Big Mac will run you 5 usb sticks by 2025 mark my words
He didn't stutter. Argentina will exchange money as pictures of cash inside USBs.
I’m so happy to see the progress, the team acquired a chair, that makes y’all sedentary now
I always love to see that 🙌🏾
Looking forward to ordering the paper! Discovering the TLDR channels two years ago has been one of the best things ever for helping me stay current w global news!
5:30 This has been debunked. There was studio noise in the set of the interview he was having
5:35 He did not "get in trouble". This was just a talking point from the opposition to paint him as an "enemy"
TLDR is a left wing pro European empire channel that hates nationalism
According to Argentina's National Institute of Statistics and Census, at the end of 2022, Argentines held over $246 billion in foreign bank accounts, safe deposit boxes, and mostly undeclared cash.55 The amount exceeds 50 percent of Argentina's GDP in current dollars for 2021 ($487 billion)
Its also more likely to take 9 billion to dollarize Argentina
Some key points:
• There is no legislation regulating the spending of provinces, so even if the federal government cuts spending, the other level of government can still get debt indefinitely.
• Using the Dollar won’t solve a thing, only make things worse! For example, if the Argentina’s exports get devalued internationally, the amount of money circulating in its economy will decrease. That is, it will effectively work as a central bank increasing interest rates.
• Argentina will be vulnerable to the FED monetary policy; and what is momentarily good for the US isn’t necessarily for Argentina. E.g. the US might be dealing with inflation, prompting the FED towards a tightening monetary policy, while Argentina needs the stimulus.
• Argentina needs deep institutional reforms, not easily pitched propaganda. It needs the best Argentinian minds, not pre-packaged reforms thought out by the IMF.
Dollarization (or a fixed peg) has its benefits. Mainly, that when a Central Bank has a horrible reputation it might be totally unable to implement the policies needed to handle inflation (because they would be unreasonably expensive in terms of employment, for example). And in such circumstances abandoning monetary policy altogether and pegging the currency may be the only way of controlling inflation.
Fixing the institutional problems with the Central Bank that have caused it to have a bad reputation is the ideal solution to such a problem, but when that is not possible for one reason or another... Well, dollarization is probably better than persistent and erratic inflation, despite all its drawbacks.
I understand the challenges of economic difficulties, such as unemployment, job losses,inflation,housing crash,unstable government and the impact of conflicts and wars around the world. It can be tough to make ends meet during these times. To navigate through this difficult period, exploring alternative job opportunities, upgrading skills through online courses, and networking can increase your chances of finding employment. Additionally, budgeting wisely, exploring financial assistance programs, and seeking support from community organizations can provide some relief. How are you currently managing these challenges? Any specific strategies you've been using?
What the public thinks is irrelevant to our leaders. We've been used as pawns for a very long time. People are really going through real life crisis right now. This is no more a recession, its is a major depression. The corrupt government will end this country, just like what happened to Rome. My sympathy is extended to anybody who is close to retirement and may be concerned about the viability of their pension, particularly in light of the ongoing increase in the cost of living.
My major concern now is how can we generate more revenue during quantitative times? I can’t afford to see all my savings crumble to dust.
@@elishadan212ideally, you should consider financial planning to get the best results with your money, notwithstanding economy situation
@@elishadan212Well agreed, I'm quite lucky exposed to finance at early age, started job at 19, purchased first home at 28, got married shortly afterwards to raise kids early. Going forward, got laid-off at 40 amid covid '19 outbreak, immediately consulted with an advisor in order to stay afloat and after subsequent investments, I'm barely 25% short of $1m ballpark goal as of today.
@@shirleya.osgoodI've actually been looking into advisors lately, the news I've been seeing in the market hasn't been so encouraging. who's the person guiding you?
Honestly I’m fascinated to see what happens
Yeah, it's a genuine 🍿 moment for anyone who lives outside Argentina.
yeah 🍿 🍿 that's for sure lol 🍿 🍸 🧉 🥛 🫖 🍶 🍷
noooo, i don't want to live in a circus
but i want to see what happens too lol
Same
His ideas is insane. If it works. He's a genius, if not.. then ig Argentina will follow Myanmar for this century
Especially he claims to be an anarcho capitalist which is again, very interesting
His interview with Tucker Carlson on X made a lot of sense. Governement and central bank cannot keep printing money and have a parallel economy.
1) Hearing voices.... on a TV studio, during an interview, there were people talking
2) Organ market was in a philosophical discussion, not any kind of framework
3) He said the CURRENT LEGISLATION ABOUT GUNS has to be put in motion, because right now, goverment is not following it.
4) What he said about the Pope who is a hugue political player in Argentina was before he was in politics and apologized privately and publicly, in fact, today they talked and seems the Pope is finally visiting the coutnry.
I dont think he would be able to improve anything in Argentina but you should be a little bit more objetive or double check your sources. Someone who understand spanish should listen to the interviews and not an abstract from a newspaper.
They have a left-wing bias, it's very clear on their videos once you start paying attention
point 4 is not really a good excuse isnt? Having to retract your real opinion with a fake one to please voters...
By now everyone in the country and abroad is holding their bottles for anything to come out of that clogged spring I imagine.
My bet is more poverty.
His plans WILL reshape Argentina (whether for the better or worse can only be speculated at this point), but they will cause a pretty large amount of chaos during the transition period, which may take 5-10 years to fully settle out. If he's going to be able to do this successfully, he has to prepare the people for that disruption and it has to be handled very carefully. This is a case where success has to be built on success. He has to do this in successive layers in order for it to succeed the way he wants. If he tries to move too much at one time, the infrastructure some of these changes will rely on simply won't be there to support them. On Dollarization, I am not so sure that's a good idea because of problems with the dollar is presently having and might have in the near future. It might be better to tie it to the Swiss Franc rather than the Dollar.
Lmao 😂😂
No, Argentina is much better off with USD.
the Franc is not the reserve currency though... And Argentina would greatly benefit of dollarization, while have no gains to made from using Francs
I agree usd actually is not the best currency to switch to (probably MXN or BRL would be better choices as they are being appreciated compared to the dolar), but Argentinians think of it as a value reserve (because the depreciation compared to the peso is small)
Funny how kids with no knowledge of anything think they are qualified to give advice.
He might simply stop printing his own currency for a while, and then do the reform, and as reserves improve dolarizd.
Smartest thing he could do is cancel all the Rube Goldberg subsidies and benefits program (e.g. electricity subsidies), turn them into benefits checks, and then keep those checks within a reasonable budget
That's realistically their only way out, Milei is gonna go for the low hanging fruit but it's impossible to fix the budget without cutting subsidies, which is unlikely considering 70% of the population uses them and will never give them up.
Announcing that your country's currency will soon be worthless and telling everyone to adopt the dollar sounds like the perfect way to make what actually remains of it in circulation completely and utterly worthless instantly... seems strange he would telegraph that when it doesn't sound like they are anywhere near ready for this move yet.
He's hoping it'll work. Very doubtful.
The dollar is already used for purchasing a house or car. The people convert their money to dollars as soon as they are paid. It's not like a normal country .
But you love European countries abandoning their ancient currencies for the Euro i bet
The Argentinian peso IS worthless, everyone knows it, hell even the rest of Latin Americans laugh at Argentina for how worthless the peso is, since before Milei was even a presidential candidate.
i mean actually worthless in the sense of having no dollar value whatsoever becuase it's no longer a thing... such that if you printed a note with a billion or trillion pesos written on it your exchange value would be the that of the paper and ink.@@idunno6479
In the 1990's, Argentine Peso was pegged to USD. The issue is still that Argentine people needs to be prepared to do their bit and make sacrifices to get economic house in order.
The day they removed the peg is the day everything went wrong
01:54 Actually, Argentina was a democracy from 1862 to 1930, or from 1880 to 1930 depending on context; but definitely not since 1983.
Also, there are two more coup d'État missing from the list, both from the late 1980s.
I would love to see Argentina become again top 10 strongest economy in world. Would love to visit it someday from Europe.
It won't
Well actually, now it's a great time to visit as a tourist. You'll feel rich because of the currency exchange.
It will take a long while before Argentina becomes the 10th largest economy sir. Get a comfy chair and wait... or better yet, get in a Cryogenic Chamber😂
You want Argentina to go back to being a giant cattle ranch with no industrial infrastructure?
@@MG-kt1ck No, Argentina did not have industry, ever in its history.
When did balanced budgets become “radical” politics?
Nowadays all governments in the west are addicted to lots of public spending.
He is already proving that he is successfully destroying it
Loved the video. Though to fully explain the argentine situation you would need a full 2 hours at least
Government overpromises > gives subsidies it cannot pay for > prints money > life gets worse > prople ask for more subsidies > go to the beginning
Thanks for the analysis, this is the best breakdown I’ve seen so far. 😎
Many blessings to Argentina. I hope he is your "New Dawn". Muchos bendeciones para ti
They should go on the ammonia standard. Dollars are sooo 20th century. The future is fertilizer.
This seems like the economic equivalent of seeing that your pan full of oil is on fire, so you pour water on it.
As a Chilean, I do hope Argentina recovers and become as succesful as they can be, not only because their current state is so terrible, but having them as rich neighbors can only be good for us.
Thing is, Milei's proposals (which I doubt he can do considering his minority at Congress) would entail so much pain and chaos as Pinochet's neo-liberal measures did here back in the 1970s. Those reforms created a terrible economic crisis in 1982, when a huge % of people lost their jobs. No doubt that would also happen in Argentina.
As a note, I know so many people think Pinochet's economic measures "saved" us, but in reality our GDP did horribly until democracy came back in 1990 and we could reform the Constitution and starting implementing some social-oriented policies. Even then, reforms weren't as deep as they needed to be, and we still are grappling with that. A radical neo-liberal economy simply doesn't work; there's a reason why Chile has have huge social unrest in the last decade...social inequality and a lack of accesibility to things like good health and education for the lower-class are real.
As you say, Argentinians will probably reject the pain these reforms would create, even for a promise to be developed in 30 years, as Milei says. In our case, because Pinochet was a dictator, people couldn't really oppose the reforms...hopefully, Milei isn't thinking about that.
Still, Argentina can learn from us; Chile nowadays is an open economy, with a lot of free-trade agreements, a responsible fiscal policy, an independent Central Bank, public-private partnerships to construct public infraestructure, etc. - all things they lack, and that have been good for us. But Milei seems to see only the good side of liberalization, when in reality it also has a -big- bad side.
PD: There's an additional reason to oppose dollarization: organized crime. In the last few years transnational gangs have been wrecking havock in LatAm, and one of the worse cases has been Ecuador, precisely because of dollarization. It makes money laundering easier!
As an American, dollarization without entering in to a single market with us where the Fed can act as a neutral creditor for both states - is a horrendous idea. I’m all for common currencies and hopefully an EU-style agreement across the Americas & Asia-Pacific in the future but a lopsided emergency dollarization just puts all of the risk of both US and Argentinian currency and policy fluctuations on Argentina.
@@zandaroos553agree! It has so many downsides, I get Argentinians already use the dollar for so much, but outright dollarization is another thing all together. I don't think the US would be happy at all about it. Plus the organized crime side of it is pretty serious; most countries here (including mine, Chile) are dealing with a huge spike in crime because of transnational crime, and dollarizing would single out Argentina as a sweet spot for those gangs to operate in.
this is the best and deepest comment in this video .. i hope it gets 1k upvote in order to reach every one .. cheers from Tunisia
Lies a neo liberal goverment works most of the time)Look at Reagan,Thratcher or Trump
@@ziedyacoub8488 There is still no argument why the neoliberal economy does not work and the reason is because it simply is not true. The data is in. People act like if economics is not a field of study. Chile’s problems will only get worse as they move in the socialist direction. I know Cuba and now I know America. In Baltimore, there are 0 students proficient in math while spending 21k per student. That’s the government for you. Just an eternal cycle of stealing. It runs well until it does not.
One has to note that the Centre Right JxC under Macri and Bullrich played an important role in Milei's victory. So Milei wouldn't be that extreme.
It remains to be seen.
@@reshuram4353It has been seen, Milei now met Macri and Bullrich again and is more likely than not to add JxC to the cabinet.
@@NaSaSh1087
Dude, it’s Argentinian politics, *anything* can and will happen. Right now they have a president and vice-president who hate each other, and who haven’t talked to each other apparently since forever.
I’m expecting things to get very saucy between LLA and JxC in just a couple of months, because both movements are simply incompatible at a fundamental level.
@@Ildskalli But both JxC and LLA want structural reforms and both of them hate Kirchnerism, they are divided on a number of issues like how to implement the reforms but united for Capitalism, Pro Westernism and especially against Kirchenerism. The run-off proved this, they were divided at first but when the time came (that is when one of them got eliminated) they united big time against Left Wing Kirchenerism to the point that JxC presidential candidate went to the Mega Cordoba rally of Milei in a bid to promote unity against Kirchenerism and Macri multiple times online adviced people to vote for Milei. After October 22nd, when Massa won experts believed that Milei needed 70% of Bullrich's votes to win the run-off and thought it was next to impossible after how badly Bullrich and Milei fought but we all know what happened in the coming weeks not 70% but almost all Bullrich voters went against Kirchenerism and for Milei.
@@NaSaSh1087
It's easy to join forces during a campaign, especially if you have a common enemy. Actually governing is much, much harder. Just wait - you'll see JxC and LLA attacking each other very soon.
Very good video. Nice presentation. As to the topic -- Argentina's people will never be willing to suffer the pain necessary to make the changes.
Nor should be
¡Viva La Libertad Carajo!
He has a hell of a challenge, but the journey is worth it!
¡Gloria a el presidente Milei!
they should do like Brazil did in 94 and use a parrallel non-fiat currency to stop inertial inflation
what does this mean?
What fixed Brazil was not the parallel currency but selling state companies to raise money to increase interests for said currency. Interest rates for the real were so high some companies closed their operations and invested in reals as their only source of income.
Argentina can't do that, they have no money.
When i learned what a libertarian was like 2 years ago, i thought: ‘that sounds like some sort of capitalistic anarchist… an anarcho-capitalist if you will- i wonder if that’s a thing?’ Lo and behold-!
Comparing libertarianism with anarchocapitalism is like comparing democrats and communism, there's a different system in-between
@@bonaaq86 Well? youi'll tell me the difference?
@@abaque24 a libertarian understands that the government has a legitimate function and needs to exist in some capacity to ensure the market stays fair and that the roads are built, an anacho capitalist rejects the idea of the state completely and wants to get rid of it for good
Hope he succeed 🙏🏼🍀
I don’t know if it in purpose but the screen ratio is perfect when zooming in to fill your mobile phone screen, thank you for this
I hope that one day we become strong economic partners with the UK like we did in our best years last century
We would like that too since we want more trade deal after leaving the EU. Just stop claiming our land and we'll be friends
Argentina is a broken nation. Their only choice is to suffer and reform themselves as Miele hopes to do...or they can keep themselves on the debt train for unsustainable short term floating and drown as the system falls apart. There is no easy way out. The result of a century of bad politics. I hope Miele can guide the Argentine people through
Iam Argentinian. About dolarisation, Milei said that is only to change current pesos for dollars, after that, there will be full free international currencies competition, that means every single currency on the world will be legal to use inside Argentina with their current market value for absolute everything, so that, if some day USA enter in a crisis, we ditch dollars and use other more stable currency.
This is ridiculous. This will only increase government costs especially in relation to taxation
It's a Hayek idea.
This does sound mental, and that doesn’t even include the fact any peg would come under speculative attacks almost immediately. But hey ho it’s gonna become an economic case study quickly
This does sound mental, and that doesn’t even include the fact any peg would come under speculative attacks almost immediately. But hey ho it’s gonna become an economic case study quickly
竟然会相信一个资本家的话，这个世界这么多的人都不会思考吗🤔
There's no way this man survives to finish his term. Never underestimate people's ability to protest against subsidies and welfare
Go and make stupid opinions about your own country, if you spoke Spanish at the very least you could go and watch his interviews and know he doesn't propose to eliminate welfare nor subsidies aimer for people that struggle economically
Aimed*
@@bonaaq86that wasnt the point. The point is leftiest economies ruined our country, we need to reverse that
Imagine if it was in sweden! What the feminazis would do?
I speak spanish, and I have seen his plans. On the short term he is promising to chainsaw many subsidies, not directly to struggling people, but indirectly. Subsidies on products they use, therefore still messing with them. @@bonaaq86
MAJOR ERROR in this video:
He was listening voices because IN FACT there was people talking in the studio (mics didn't reach that far), it was thet clarified by the interviewer.
Fun fact: Peronism was also popular in Brazil with Getúlio Vargas. Even tho most brazilians call it "Vargismo", it's basicly the same as Peronism.
Javier Milei, regardless of the record of his presidency (likely to be hampered by the legislature), has tremendously improved the basic standard of economic education and discourse in Argentina, which will literally save lives.
By calling all other economists communists? Yeah, good luck. Hope you survive the crisis.
Remember, when a business is drowning in debt, every turnaround CEO worth their salt will cut spending. When a politician wants to do the same thing, it’s an “extreme” policy.
Cut spending or say the Falklands belong to Argentina and start a new conflict? :)
Let's see what the guy who wants to open a marketplace for babies will do if he's soo "Not extreme" and how many people will die.
Ah yes comparing managing a country with a company, classic right wing discourse
@@maximipeits kind of logical, the company cuts expenses and fire employees so it can stay afloat. Same should be with a country, sadly some people will get left behind so the majority benefits. There are studies that show that the worst thing a company can do is reduce wages for everybody instead of firing some people, since the discontent is bigger, same as in a country when you are trying to finish you governement and get reelected you focus on the majority.
Argentina has 7 points of Deficit, an inflation of 150% (borderline hyperinflation), 60% of Children in poverty, 10% of homeless, etc. They are in a dire situacion, so you inevitably will have to leave some people in the dirt so the majority gets better.
Everybody would prefer not to take those steps, but they work. Chile, the Nordic Countries in the 70s, Ireland in the 80s-90s, Spain in 2010, etc.
What's your proposal but cutting spendings? Cause anything but that we already tried, inflation? Done, debt? You bet, raising taxes? Of course.
I don't really know what could you possibly do if you spend more than you earn and have no capability to earn more than that short-term.
It's really easy when you want to make policies in the US, just get more debt, that's not the case for everyone
You don't even need to compare it to a CEO you could easily compare it with a family that spends more that they earn.
"Brits pronounce Spanish words correctly, difficulty level: impossible"
I don't think he did so bad. But for real, one time I heard a British professor talking about the etymology of the word "macho" and he said it like "mack-oh" not even exaggerating
Brits can't pronounce spanish.
thats funny@@BorkDoggo
removing subsidies and privatizing low productive public sector companies and opening up of economy for investment will itself will do..but ditching peso ll b disastrous..
Small correction, he is actually a Libertarian.
A devaluation of the peso implied or forced would mean bankruptcy for all Argentinian banks holding leliqs. By now the leliq debt is past the point of no return and the quasi-fiscal deficit would demand a devaluation of the peso for things to really change
That's why the first priority is to get rid of the leliq
He already said getting rid of leliqs is imperative for making the rest of his policies work.
But it's important to point out that he's not an Anarcho-Capitalist, but he is *philosophically* one, since media keep simplifying this and it's just wrong.
Could you elaborate further? What do you mean only philosophically?
@@GoyFromFinland that means he knows he has to make concessions and cant be too idealistic
Better than the lazy far-right label every mainstream media org is using to try to smear him, surprised TLDR didn't use it as well tbh given their propensities.
Well, this is to say that he dose not believe in implementing it on the spot right after he gets sworn in. It would be more accurate to call him a minarchist, which is to say that he wants the state to be as small as possible and basically take care of security (police, military, etc.) and the court system. In fact the clip that people use as a source of him being an "anarcho-capitalist" is actually where he says that in "real life [he is] a minarchist".
I'm quite sure the only reason people/media say that he's an anarcho-capitalist is to scare people. Because both terms are though of as "bad" or at least unpleasant to most people. @@GoyFromFinland
@@Dr.Oppenheimer-Style To be fair most people wouldn't know what a "minarchist" is (they'd probably get it confused with "monarchist" or something). The media has to be accurate but it also has to be understandable by its audience, there is a trade-off here.
Out of everything Milei said, eliminating pensions for politicians is 100% something all empoverished countries should do. Viva la Libertad, Carajo.
sounds like a good guy ,I like his ideas. Im not a fan of government waste either
he didnt dance on stage lol, that is a really old video, now he is calmed and with a proffesionalism never seen
he can't do worse for the people than the previous gov
it can always be worse. And his ideas range from super risky to outright stupid. Odds are it will be worse.
You say this, and the universe responds "Challenge accepted".
It can always get worse.
People don't know how good they have it until they get a dose of right-wing policy. Everyone takes basic things, like electricity and being able to remove a politician, for granted.
His ideas are mostly good@@ThatGuy-bz2in
"he called the pope a leftist son of a b*ch*"
I love this guy 😂😂
Austerity and Privatisation may be short term fixes to government debt and deficits, but in the long run they lead to economic stagnation and a loss of state assets and revenue.
That's BS...
@@nancode Not at all.
It doesn't even fix short term debt and deficits. Whether government spending works depends on what and where is the spending going. Internal and external factors can change the results, but ultimately 'something' is being actively done on a national level. Austerity and privatization basically means government is reducing role in with involvement, which ultimately means any economic activity that happens, does not service the public at large, be it short or long.
@@nancode Austerity always lead to more disasters. If people and state have no money to spend bc of austerity, there are no longer customers for corporations, meaning they go down as well, leading to a spiral of economic decline.
Privatization leads to the opposite of stagnation lol
I can already note the growth of Argentine meme exports increases to an unprecedented level
Kings, Queens, Feudal Lords, Earls, Counts and Dukes have renamed themselves and have become Millionaires, Billionaires, Plutocrats, Oligarchs, Shareholders, and Hedge Fund managers.
Something that repeats itself after election is that voters forget that parliament is where reforms must have a majority in order to be implemented. The spontaneous joy is therefore soon after replaced by a new discouragement. Democracies are reformed when there is a major crisis, until then they model through with the opportunities at hand that are gradually diminishing.
We (argentinians) are constantly in a major crisis. We had a catastrophic crysis in 2001 and nothing changed. If Milei comes and goes without changing anything (for better or worse) I fully give up that this country is redeemable in any way, shape or form.
@@gianb3952 You know that better than I do, as I don't have my everyday life in Argentina. I just wonder how the last election results go from left to right and the voters can't see that financing public spending by printing money is not a solution. It's going to depend on what can be voted through congress, but libertarian politics is working, but it's going to be tough before it gets better. Stay strong!
@@glennnielsen8054 The voters want to end inflation with zero welfare and subsidies cuts. That's why the problem never gets solved
@@Vitorruy1 You're right. That one is one of the flaws in "big" (geographical) democracies, where you have to drive over the edge before you can start over.
Viva la libertad carajo!!!! Vamos Milei 🇦🇷
I wish him good luck. Let's hope he at least leaves his country better off when he started. That's the best you can hope for.
imagine if he was openly saying that he wants the country or the majority of the people to do worse - as if there are politicians, who call themselves anarcho capitalists, who openly say such things
You know I think in Argentinas case maybe sometimes it takes a crazy approach to fix a crazy situation.
he doesn't seem to know what he's doing
It seems crazy to modern people living under a globalised government yeah
@@grimaffiliations3671 let him cook
It was a huge problem on this election. The moderates who would not change a lot, the finance minister that would fix the problems he created or something different
Spanish pronunciation is a huge opportunity for improvement 😅 Thanks for the vid
Jajajajaja cierto??
@@clappagemcphee claramente lol
I’ve no idea what you’re trying to say- but I presume you’re looking down on the presenter’s Spanish pronunciation- that’s not cool!
toma menos de treinta segundos cerciorarse como pronunciar un nombre, pero tomaría mucho trabajo y es muy difícil
@@jamestownf relax boi
I always laugh when people say "self described anarchocapitalist". Is there another way of being anarchocapitalist besides self describing you as one? People don't know anything about libertarianism and anarchocapitalism and come with these sentences. By the way, Milei's plan has nothing to do with anarchocapitalism, if you want to criticize us, look at Próspera in Honduran territory. That's a private city. That's ancapistan in real life. What Milei wants for Argentina is just common sense.
Many of the stuff he wants to implement are on the list of stuff underdeveloped economies should do in order to become developed economies. Energy subsidies are a fatal error for example.
Privatising doesn't develop the economy wtf?
Did you not know that the US pays about $650 Billion in subsidies to fossil fuel producers every year?
Mate when you find a country that doesn't do subsidies come back here and tell us.
Actually subsides grows economies rapidly which is why most of the rising economies and those heating developed nations in terms of economic complexity and innovation are often mixed economies and focus on SME business for large portion of business operations and the remaining split between governments and large corporations due to nature of business or profits.
@@teamjam2863but that growing becomes dependant on subsidies. Bolivia tried to end oil subside and people and unions stopped it. Now it's one of the main causes govtn can't balance it's budget and probably will take debt or devalue the currency.
What is written: "Raúl Alfonsín" / "Cambiemos" / "Peso"
What is read: "Rauu, Alfousin" / "Cámbimos" / "Peisou"
Honestly that's not so bad compared to how they pronounced "junta"
Excellent reporting
Cutting ties with China and Brazil because they are 'communist' seems like a stupid move for Argentina at the best of times. But when Argentina's economy is a disaster like it is now, cutting off ties with some of your biggest trade partners seems like madness.
When the Brazilian economy is getting worse by the days and when Chinas economy is based on lies manipulation and pression.Nope thats the best moe theycan do
He says about goverments not private sector
@maksekart7162 I'm not sure if the Chinese will see it that way. They don't like criticism and they are willing to sacrifice a good deal of business with a country that criticises them. Australia found this out in 2020.
@MrAlexkyra apparently China congratulated hum on his victory
Los lazos comerciales se mantendrán. Lo que se eliminará es el lazo ideológico
In regards to guns, he wants to uphold the ALREADY EXISTING gun laws in Argentina, which are not being respected by the government. The "organ market" thing is fake, he talked about it from a personal POV but will never create such a thing.
Well TLDR too is sort of a wanna be VICE type left wing news platform. They very conveniently avoided even using the word “socialism” throughout this video even though that’s what caused many of Argentina’s economic issues.
@@ws1814 yeah, i can see that.. shame
@@TheIrishLad06it’s kinda true tho they have a clear left leaning bias
How on earth does this guy expect to make money from the oil industry if he further privatizes the oil industry, that's just going to result in foreign capital being transferred to the US, and Europe.
Some impressive thinking here. Warmest compliments. Thank you, sir. :)
If Argentina plans on shifting away from China and towards trade with the US. Dollarisation sounds like a good strategy. Exporters will also have an incentive to actually produce and export their goods since there are fewer barriers to trade.
If politics was a TV programme we have some entertaining watching to come. Cheers TLDR
I'm not a Libertarian but I do respect Milei wanting to improve his country and I feel for his fellow Argentines. I don't know how he can fix Argentina but I hope he succeeds.
Capitalism, profit, greed and hardworking will fix the economy. Incentivize that hard work equals money. Will lead to the turnaround.
when argentina isn't in a economic crisis :/
when it isn't in one it is busy creating one!
just to comment on the 3 main problems stated in this video:
1st. Milei doesn't have a majority in parliament but neither the opposition nor any other party, so there is still the possibility of reaching majorities through alliances.
2nd. Argentina doesn't have dollars reserves in the financial system, however Argentinians have CASH more than 250 billion dollars as savings being the second country in the world with the most dollars in cash more even than the US. the reason is that cronic inflation forces people to save by buying dollars so technically the economy is already informally dollarized.
3rd. Dollarizing is not giving away the control of the currency because it is quite obvious that having 140% annual inflation is already a lack of control in your currency, and this is not the first time. pretty much it has been like this for the last 80 years.
just to bring some more depth to the discussion, greetings from Argentina, VLLC!
Buenos Aires was one of my favorite cities to travel too, so I hope so. But I doubt it.
TLDR displayed a definition of Peronism but not in the narration and did not really discuss how "modern" Peronists departed from "classical" Peronism.
Let him try. It cant be worse in Argentina.
Things can always get worse.
For profit organ trade and for profit hospitals with voucher systems as policy plans would indicate that it can be MUCH worse.
@@enigmusII How so? Voucher system for healthcare seems fair to me. I pay for my private insurance.
@@Kalimdor199Menegroth Because people who need healthcare are not in the position to shop around and compare, and as a result a for profit system turns into an extortion game where the outcome only favors the rich and the overall expenses are on average much higher than universal access systems, with overall a much lower outcome. Every single piece of research on this matter has validated that outcome.
A society benefits when everyone has access to healthcare on an equal base.
@@enigmusII Not all private healthcare is bad, it depends on how it is implemented. For primary healthcare, the "Direct Pay Practice" could work quite well and is affordable. This video explains it well: ruclips.net/video/bGZaRnC1wNg/видео.html
The begining of the video, got me laughing very hard. That Argentina is on a category of it's own doesn't surprise me (it's actually sad) but the fact that the world pays atention to us is somewhat refreshing (we matter) 🥰
The only thing I have to correct you guys in the begining is that, Sergio Massa, even if he went to the election using the Kirchnerist (what passes as "Peronist" this decade) machine in the background, he never was a Peronist. If anything, he's a "Massist" (not a Peronist). Politics in Argentina are somewhat harder to understand for people from outside, sometimes even for people inside too. Many argentinians believe Massa is a Peronist because of the alliance with them in this last few months, but in reality, he isn't (we call him a "panqueque", a pancake if you like). :)
Personally, I still can't believe Milei got the election last Sunday. Even if I despise Massa, I think he was a better fit for the presidency (for starters, he's a polititian, while Milei is an economist), but also because even if Milei is mostly pro-market (and that's where I work and get my money), the rest of his agenda is... terrible, at all lenghts. The sad part is very few argentinians have enough critical thinking to understand that (my people is VERY short sighted and with short term memory). 😥
He was in right, left, peronist, and self made parties. Every country has a Massa.
Yeah, the majority of the population are stupid, unlike you and the people who voted Massa. Condescending much?
And just because someone has political experience doesn't automatically makes them fit for president. Look at the last 20 years. Beside, Massa is already a failure as the minister of economy. So why should we think he would be better as president?
oh yea massa is better because it wasnt enough the 140% inflation and 40% poverty that he and the previous 3 other minister of alberto fernandez . it also seem it wasnt enough 4 years of mediocrity from alberto fernandez and you just still want MORE by voting the mediocre current minister of economy that threw a tantrum and "left" his work to rest.
have you ever heard the definition of insanity? of doing the same thing over and over and expecting a different result?
@@FZJanimated yeah, Argentina always blame poor people for his bad economy and vote conservatives who take loans, gift natural resources and never fix the problem
@@FZJanimated Yes, you are right about the mediocrity, and you are right about the definition of insanity (it's a quote from Albert Einstein). I'm not waiting a different result from the same person. But Massa isn't an economist. He shouldn't have been the minister in the first place. Why he accepted that position to begin with, I can't even comprehend.
The truth is, from my point of view, there wasn't ANY good choices in this election. In October I went with Schiaretti for president, and the left for CABA, knowing neither would win, but of the 3 that had a chance to win, all of them were bad choices (and yes, Milei is a really bad choice). And NO, he isn't a bad choice because he thinks Tatcher was great, or because he thinks we should be able to sell our organs. Those are points of view, and I can accept people thinking differently (most of my family are K, and parties are always awkward for me, since I'm anti-K to the core, and they know it, so we have an agreement about NOT talking politics when together).
No, Milei is bad for the country because he's in love with what's wrong in USA, the things that make me say "I wouldn't live in USA even if they'd paid me to be there". With Milei, your boss can fire you just by saying he's firing you, and you won't have any support from the state to fight that. If you have someone in the spectrum in your family or a friend, they are screwed, because with Milei the health system won't help you if they don't want you. The state won't be there for you either, even if the healthcare of the citizens depends from the state (constitutionally speaking, you can go read articles 33, 41, 42, 43 and 75 (points 22 and 23) in the Constitution, if you want to check by yourself). It isn't a provincial matter, it's a state matter, but he want's to leave everyone by themselves to fight without help against OSDE, Swiss Medical, Sancor and all the other pre-paid heath services (because that would be the only thing we'd have left, since he said back in the begining his plans to eliminate sindical health care system, what we call "Obras Sociales"). So you either pay a lot for your health (and most people won't be able to) or you die. That's the health care system that they have in USA. The system that both medical workers and the public in USA say "sucks big time". But the corporations that move that system pay A LOT to the polititians to stop them from changing (the way Obama tried). And don't get me started with the weapons.
So no, I don't think we had it good with this last four years, and a lot I fought with a lot of people that defended the terrible things that happened, but I have enough foresight to predict that what comes with Milei is a lot worse than what people even imagines.
But that's my opinion. Hope you can accept that for what it is. :)
at minute 5:33 the voices which he heared where real voices coming from the camera crew, that was statet two days later by the tv channel.
Yes 🎸