Can Milei’s New Budget Revive Argentina’s Economy? 

lock in bruh

just like legacy media spreading fake news

a 160% annual inflation rate would be quite "normal" here though, anyway.

so embarrassing....

You’re a far left rag

I went from no money to Invest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Stephanie Janis Stiefel. I am at $128k right now and LOVING that you have to bring this up here

I know this lady you just mentioned. Stephanie Janis Stiefel is a portfolio manager and investment advisor. She gained recognition as an employee of neuberger berman; a renowned investor she is. Stephanie Janis Stiefel has demonstrated expertise in investment strategies and has been involved in managing portfolios and providing guidance to clients.

@@annemoore4461How can i reach her, if you don't mind me asking?

Stephanie Janis Stiefel has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

@aydin6219 How can i contact her, if you don't mind me asking?

They might once the wall street puppet is out of office, right now everything is just getting worse.

lol with a right winger in power? Dude made millions lose jobs overnight with his policies for short term metrics improvement which looks like isn’t even working anymore

based comment; the condescending flippancy in others' comments is unpleasant

It's getting much worse

The middle class may benefit a bit, but the poor will sink further into poverty as the elites always make them

Come try the new Argentian Exclusive at mcdonalds: The McWeAreFucked! Now with extra healthcare cuts, corruption and deficits.

The elderly 70+ is being forced to work to pay for medications... they need more than good luck. I'm Brazilian and I'm totally astonished how things are deteriorating there. I visited Argentine in 2022., the situation was bad then, but people had means to live... these people don't deserve to treated like dogs in the end of their lives now 😓

But we don't have more than good luck, we can't go back to printing money to solve problems from the present​, if we do we are screwing future generations with more inflation. We need to fix decades of poor resource management and reduce this massive and inefficient state that costs crazy amounts of money that could go to the elderly, health, education and defense @@dltn42

Except Pessi

@@dltn42 Bullshit, there were no cuts in medication coverage

To reimagine that metaphor, Milei is like the Engine that ran into a swampy Ditch

Because nobody knows what's happening but in my opinion the odds are that Argentina stays the same, just like in the past century.

No one will know if it'll work till like 3-6 years from now tbh

Just see the graphs for poverty. Millei has managed to make families that always had a home live in the streets. All in the name of zeroing the national debt. Which he is far from doing. Argentina can just default the debt. It can be self sufficient.

It is already working, Argentina was on track to be bankrupt by now if it weren’t for him. Of course it will take more than a year to fix such a broken country but the progress is remarkable thus far

With this guy? Impossible.

@@stephanusghibellino Javier Milei lowered inflation from 25% to 4%, took negative dollar reserves and increased them (recently he spent part of them but it was to pay debt that HE DID NOT TAKE, it comes from the past administration), began to cut taxes (and not necessarily for the rich) and deregulate hyper-regulated sectors in the economy. All this in 8 months of government in which the opposition has directly sabotaged everything he has proposed. Honestly, either you are not informed because coincidentally they always come up with bad numbers or make horrible mistakes whenever they talk about him (check the pinned comment of this video and the others in which they talk about him), or you have a problem with his ideology or with him himself. Explain to me: What moves you to say that he has not done anything?

@@stephanusghibellino Y que queres capo, mejorar con el kirchnerismo que nos dejó un país destruido con 50% pobres, jubilaciones de 80 dolares dolar de 60 a 1200 en los últimos 4 años, sin contar que aumentaron la deuda pública en 120 mil millones de dólares?

Sure, when Milei and his ilk get fired.

It won't happen unless the civil service is healthy and delivering as promised instead of being a tool for the rich.

Need more likes under this post. TLDR keep making embarrassing mistakes from video to video. Some people may notice, but majority will be misled

​@@Zenzen-jw9rryeah, they really need to work on their proof reading. They seem to get at least one number (if not multiple) wrong in every video.

@@ArnabSaha-pm8id No, he is right. The exponentiation of 4% ends up with 60% over the course of a year. That's 4% on the month, and then 4% on the increased prices for the next month, etc. So it takes the new bases into account. If he didn't take the new base into account the rate would be 12*4% or 48%. The 60% includes the compounding.

@@ArnabSaha-pm8id That's incorrect. If I would keep it same, it would be 48% (12 * 4). You can google this, just type in "1,04^12"

Still far to high anyway.

Yeah that was a very glaring flaw for a channel that usually gets things right. Hopefully they'll correct it

@@luistbom "that usually gets things right" Don't know about 'usually'. I make it a habit of checking the comments sections for stuff like this in TLDR videos.

is not that crazy, it will mean like a 2-3% monthly inflation, core inflation is already travelling at that. Is pretty obvious that he will make it, his "0 emission" policies are being really agressive on that issue (there is still inflation because of subsidies cuts that means services prices increases and also interest rates cuts that means pesos deposits are not renewing their positions and goes back to the economy)

60 and 160 are the same, you just add on and multiply the other. Inflation is 60% meaning the valuer of the goods is 160% the ones of the previousyear

@@meretricioussimp7759 Take a deep breath and analyze you math, and re- listen to exact words said in video. You will get it right I hope.

Those experiments are important for humanity. To optimize any complex system (like political and financial system), people need to have a variety of systems, some of which should have large deviation from the current best system in order to escape the local minimum trap of the current best system. This means over "bad" system like monarch, theocracy, and other authoritarian system in general should also exist as a minority of all current political systems. For instance, maybe theocracy is nearly the only way to avoid low birthrate... or maybe an absolute authoritarianism without the incentive of corruption, turns out to out perform democracy in the age of social media where the quality of popular opinion go into a spiral of negative feedback loops.

As an Argentinian I think it's a worth risk to take, we have one the largest countries in the world, full of natural resources and far from the main conflictive countries, however we gone from the best country in the world in 1.895 to now being one of the worse, we destroy 5 currency: peso moneda nacional, peso ley, peso argentino, australes and now peso. We had many presidents from all kinds of ideology and every single one has fuck up the economy. I think that's why a lot of people are enduring this very hard times without complaining, if the crazy man with two master's degrees in economy can't fix the country then we are doom to fail forever.

I'm Argentinian. This administration is brutal. Just pure hatred of the poor, the elderly and the working class. This guy will be ejected soon.

@@stephanusghibellino La tenes adentro Peronista VLLC!

​@@stephanusghibellino dear leftards: no matter how much you repeat that Milei hates woman, old peolple, the poor and children, no one is going to believe your lies. Also, since Milei took office you have been saying that "Milei is leaving in December, then January, February, March and so on..." people are already laughing at you guys.

Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.

That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?

Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

These are bots. Please don't fall for this

lol

Fix it? He’s collapsing the economy, the poverty rates have skyrocketed since this puppet took office.

Well spending big on military while cutting everything else is a great way to worsen the situation

What if it will take years for the answer to be resounding "no", is everyone ready for that eventuality

@@Leosch633 DPRK Style "Songun" ideology

He can't, his whole ideology is about government not fixing anything. Argentina's problem is one of Geography, that why those that came before him was unable to fix it. Unless Milei can somehow move the land, don't see how he can change anything.

@@andrecruz1965 populists and peronists are too dumb for that

Except with a libertarian clown on top things will never get better. He'll just grab what he can and then skedaddle.

But that's the situation for years now, so the getting better part could also been now and not later

@@tomlxyz shit logic, he hasnt been in office for 1 year

Get worse? The guy is collapsing the economy, Argentina will be a failed state by the time this wall street puppet leave a office.

because this is taking place internationally so as to disappear in the bigger picture of things.

Private sector investment tends to follow Public sector investment though. The Private sector likes to see that the state has confidence in the economy before it significantly invests itself.

"private sector can grow to step in" lmao Except it never happens

Matt-ou7tu Talking economics with libertarians is like talking physiscs with chimps, they just don’t get it.

More than half of Argentine government spending is for pensions and government job salaries and benefits so it does make sense to drastically reduce them so that the private sector employment will flourish.

​@@juancarlosalonso5664 exactly

Thats what I'm thinking. "Security" often translates to "comfort and protection of those in control". Watch, all the private business that may move in to fill new vaccuums will likely have some small tie back to his pocket or the pockets of those friendly to him. Thats how this shit always goes. What he is doing is going beyond "trimmimg the fat" he's cutting the social safety net to the bone and then throwing it to the dogs.

exactly. just wait until he loses and don't recognize the result and claim fraud just like trump and bolsonaro. in fact, before loosing he'll already start to cast doubt in the electoral system. for trump the fake problem was the mail paper votes, for bolsonaro, it was the eletronic voting machines. let's see what milei's fake reason is gonna be. in the us, the army didn't play along but trump attempted a coup in january 6th. in brazil, the armed forces were divides and on the fence and bolsonaro attempted a coup in january 8th. plus, there's always the path of changing the electoral system for him to keep getting reelected, like orban, erdogan and maduro. they all need the army at their side. or at least with their pockets full and not opposing them

​@@lazyboy300Bolsonaro never claimed the election was stolen thoughbeit

​@@lazyboy300Neither Trump or Bolsonaro were directly responsible for those riots. They were not even serious coup attempts really

The reporter didnt put a lot of effort in explaining. We are looking to go to war, that was never the tradition in Argentine foreign policy. The Falklands War was a unique political move in that sense by an Argentine government, which I remind you was the last attempt to keep a nationalist military dictatorship in power. What Milei seeks is to recompose and rearm the Argentine Armed Forces that were dismantled after the return of democracy, our military did not have bullets to train, we did not have active fighter planes, our prefecture could not take action on illegal fishing in our sea , the border has become a sieve for drugs. On the other hand, it is seeking to be an external ally of NATO, which is why it increased the national budget by 2.1%, just as NATO asks of all its members. Don't take us Argentines for fools, we never seek war, we are a pacifist people.

It's Latin America... ofc he has to worry about that.

Even if the army wanted to... They do not have the strengh to make a coup

@@SneedSeeding Luis Acre was almost overthrown until the people of Bolivia came out and supported him and the military backed down. The leaders of the attempt were immediately arrested and revoked of their titles

@@thatweatherman4411 true but that's an exception, generally military coups are very dangerous even when they fail.

@@cageybee7221 cause usually I’ve seen what happens if the people stand up to them the military immediately turns against their own people and guns them down

I hope it works out, but he changed it so he now owns it, good or bad. They do the same thing to US presidents a week after they’re elected.

It is working out. Slowly. Major banks give loans so that ppl can own houses. That happens in a variety of countries. It didnot happen in argentina for decades. The stock market is in somewhat good shape, security and safety is improving a bit, corrupt politicians are finally getting investigatedby justice, etc.

He promised more investment from the private sector but it will take pain to get their, the pain has delivered for the Argentina people and investors are losing faith if his plan would aspire investment we would see this the effects (better conditions) would show later but we don't even see investments by the private sector

​@@martincatoniryan1638i don't think anyone is buying houses right now

No, they just want to shit on him for not fixing everything in 73 seconds out of hypocrisy and their inability to accept electoral defeats, this isn't the first time that this happens

@@bwhog congress peronists are sabotaging him because they want the economy to fall, so they can hope to get back in power

Inflation is going down

If no one is eating, inflation will surely go down

@@matheusd.rodrigues429 if they're going into massive pain, they'll need to set up a public food bank so the people don't starve.

@@matheusd.rodrigues429do the millions in Brazilian favelas also starve? How is poverty in your country any different to poverty in Argentina?

Milei reduced the interests rates though and inflation still continued to go down regardless of that. also Argentina has always been a country whose exports are mostly agro, and it continues to be so. Inflation also is the highest degrader of wages, and wages have just recently increased over the monthly inflation rate

@@pedrols95life4 Interest rate is at 40%, still too high. Ye it was higher, but you must imagine that loans and bonds when emitted must pay 40% or more. And when it comes to inflation they are even more wrong. Inflation describes how the prices of a shopping cart developes, it doesn't describe how the money supply developes. So when they say that government spending increases inflation, they're wrong. And when they pay 40% of interest cost, that doesn't mean that their money automatically has grown like inflation. And when they now cut government spending, inflation just goes down, because domestic economy is cutting too. That means companies and consumers are spending less, so prices go down... But that's poison for an economy.

Greece had the same problem as Argentina yet they took their medicine and are doing quite well now. Obviously the economy can't support those high wages but what do wages even mean in a country with 200% inflation? It's the old one step back to take two steps forward and if it was done 30 years ago, when it should have been, then it would be far less painful now.

@@D4RTH_TANO You really don't listen to milei, do you? He has never said government spending creates inflation. What he always has said is "spending deficit finances by monetary emission by the central bank causes inflation. Because even if you have deficitia and you finance it through international debt you don't necessarily generate inflation" he literally just repeated that in a recent interview. You are doing a straw man on him. Also, inflation is indeed connected to the money supply, but I'm not interested in entering this useless debate. Just actually listen to milei's words and stop straw manning him.

@@pedrols95life4 That's the same, the government deficits gets paid with money from government bonds they sold to the central bank.

Taxes for what? This becoming a Libertarian society. By cutting taxes, the people get to keep their income to invest into businesses once the gross subsidies vanish from the market since prices have been fixed for decades. Stuff like this could take years. His goal is to return the government to its basic principles, protecting human rights and property. Taxes would only fund the necessary functions of governance. I.e. congress. Police/fire, departments, Courts so on and so on.

Private sector is shrinking under Milei. Most jobs lost are in the private sector. We explain this many times. If you cut public expenditure, people will have less money and buy less wich will provoke the shrinking of the private sector. Specially in a country like Argentina where most of the people consume is made localy.

Exactly, I'm not against budget cuts but if the Conservative government in the UK has taught us anything it's that without PROPER private sector investment those cuts are useless

​@@percelomalsdathat's why he is incentivising foreign investment in markets that focus on exports.

@@percelomalsdaSo, what you are saying is that Argentina is now trapped in a statist hell which can never be escaped. Unless the government prints money to give to consumers, the people will simply go without? Personally, I’d go get a job rather than starve, but I guess Argentinians prefer to go on hunger strikes?

@@halohunter111 And he is falling spectacularly. Even his personal argentinian businessman friends prefer to invest in Lula's Brasil rather than Argentina. Who will want to invest in a country where people buy less every day?

You think we got rich by spending on health care, pensions and welfare benefits?

@@JSK010 no, but the spending helps to keep the masses docile and not in the mood for revolution

​@weiserwolf580 thats why u increase the military budget

@@weiserwolf580 we got rich first, created a welfare state after.

@@JSK010 in general i would say yes. All of those programmes provide more value to their economy than the military would. Im sure spending on health is a net positive investment for most countries. Pensions were paid into by the recipients and welfare at least attempts to keep people out of poverty and gets spent bavk into the economy.0 When they buy new military equipment thay is not produced there that is just money leaving the country that buys equipment that sits on military bases.

i don't think you are correct. Argentina didn't go to a very radically direction with every goverment. all of them went for the same direction, more goverment, more goverment agency, more goverment spending. in 2000 was like 20% and in 2023 was like 40% of the total gdp. and thats only 20 years, argentina is going this direction for almost a century.

there's no consensus though. It's institutions. Lula is trying to implement a PAC 3 but to do that it needs to increase spending but it cant because of central bank's indenpendence, golden rule, Central bank's inability to finance treasury and etc...

@@martin-dw You've never studied Argentinian history then, in the 90s or even Macri's goverment were totally pro-market and in Menem's case reduced the state at it's minimum

@@mosaloquendo Menems first administration was KIINDA pro-market, specially taking in mind how was before, but TOTALLY is very a big statment. and Macri was totally a social democrat, yeah he cut spending (42% from 47%) but only a bit and at the cost of getting a giant loan. If Macri is "totally pro-market" What the fuck is Milei to you? the god of capitalism? I think you are very at the left my friend and everything you see is far-right

@@martin-dw To Me, Milei is that he says he is, an anarcho-capitalist. And how on earth is privatizing the national airline, water, electricity, gas, railways, ports, banks, the state oil company, and even the post office (!!!) is just kinda pro-market to you? I get that Macri didn't deregulate at Milei's pace but he left goverment on a 0,5% primary deficit. To me my friend, your sympathy for Milei is making you biased, he's not the first capitalist president in 100 years and most of his ideas were tried before. You could argue that they were poorly implemented, but financial deregulation, privatization and austerity are not new to Argentina.

ikr, increasing military spending they claim to be broke yet cutting education/healthcare; the very things that grow an economy. And letting foreign corporations completely tax free free and completely free from environmental regulations. It's not like most shit hole countries have companies dumping toxic chemicals into the soil, water and air.

Every "anarcho-capitalist" or right wing "libertarian" who ever gets power loves to "kill the state" when it comes to stuff like healthcare, education, old age care/pensions, research, environmental protections. But when it comes to highways, cops, and the military they always seem to have a change of heart. They dont actually hate the state, they just dont want competition for working class people's money. Theyre fine weilding the state like a club against those they prey upon.

But luckily Massa had plans to fix the economy...... Right??????

Or you are a 1st world marshmellow socialist or voted for Massa (no middle point for you)

glad to see someone gets it

Exactly.

We can't predict the future so let's see what time has to say

A lot of it😂

Like a Steam Engine that ran dry and seconds from a molten explosion 💥

He's done more to run a normal economy in less than a year than the Peronists have in 10

It’s almost as though a self-described “anarcho-capitalist” is the solution to all of Argentinas woes…

Yeah instead of a brain he has that in his head lol

@@pebblepod30 Because our past administrations (a lot) payed 0 attention to the military budget and in military terms we were EMPTIED. That’s the reason.

argentina has 0 active submarines, the meko 360 and 140 are the same as they were in the 80s, the helicopters are from the 50s and so on. argentina the 8 largest country in the world spends 0.46% of GDP on military, they are destroyed to the point that they cant protect the country.

I believe there's some islands that make for a convenient distraction 😂

Salford.

Milei believes in aliens, so..

Not completely out the realm of possibility, man's crazy after all; but I think it's more likely that he's worried that those disenfranchised by his administration will do something more than protest his government.

because argentina is the 8th largest country in the world and has one of the smallest armies in latin america, there are huge parts of the country that are practically unprotected.

@@webaazul2500 How is he crazy? Does being eccentric mean crazy nowadays?

Maybe not a coup, but probably he knows that the things would get worse, so having army on your side is critical: just look how Venezuelan government survives on this strategy.

he said in a span of 8 years

Military spending is really negligible compared to the numbers that really matter. And you just cannot have a so big a country without a credible deterrent.

​@@myBestWishes677 You can, Argentina has proven it in the last two decades... Their military has been a joke for at least that long, and no one has invaded them 🤣

Yeah it's 160% of the base. But that would imply that 98% inflation is actually deflation (since 100% would be no change), which is how nobody in the world uses inflation. Not even their own other numbers (the 4%) works that way, so this is just a very sloppy mistake, particularly since it makes the numbers about 3x as bad as they are. 160% inflation would imply a +160% change, so 2.6x, rather than 1.6x. (but the real number is 1.6x)

@@jaspermooren5883 They made the mistake, check the pinned comment

@@segiraldovi Yes, that's what I said. That they made the mistake of saying the inflation is 160%, while they ment 160% of the base (so the new price is 160% of what it was, which means the price increased by 60%), which would be +60% inflation, or just 60% inflation, which is how everyone understands inflation.

Then you clearly don’t know Milei in depth and just stay with the titles. Either know about Argentina’s state before him.

Countries need protecting, too. Don't forget that the country experienced two major terrorist attacks (AMIA and Israeli embassy), there is an insurrgent , radicalized and violent group of so called Mapuche tribes that carry out attacks and sets fires in some places of Patagonia (and in some places in Chile, too) , the islamic republic of Iran is suspected of assassinating an important federal prosecutor in his apartment in Buenos Aires, there is also a big drug and criminal gang problem in Santa Fe Province, there is a large border in the north and north east that is used for smuggling purposes, drugs, crime , etc... and lots of other international and national problems and other stuff that would require military power or intervention. Milei is an ardent supporter of Zelenski and Kiev and russia has ties to former corrupt politicians like Alberto Fernández and Cristina Fernández de Kirchner. There's been a large influx of russians settleing in Argentina, some could be spies, agitators or worse. Our military had been definanced for decades , using old equipment that would not work or fare well against the threats. Also, there is the enormous Mar Argentino that has been depredated constantly by other countries, China is in that bag, as well . I seem to remember warning shots fired at some chinese boats and 1 that was sunk or boarded by the maritime police here... In addition, Milei is an enemy of Venezuelan ultra corrupt Nicolás Maduro. the Castro regime, ortega , etc. They could all disrupt life in Argentina at any time. Argentina needs protecting, is a big country in terms of landmass (it makes the top ten, if am not mistaken) and quite vulnerable and old, antique stuff in the military and intelligence agencies... Milei had a spat with spain's Pedro Sánchez, he could finance crime here out of spite, too. As he was publicly and globally shamed...

​@@FloweryLilium or Libertarianism

​@@FloweryLilium yeah true I just like to shit post. I also just have big dislike for people who claim to be pro small state, cause they cut things like education social funding and taxes, while increasing police and military funding.

​​​@@SchnitzelfoxArgentina just doesn't have the money for anything that isn't the bare minimum to continue existing, hence the military and police still being required spending, especially with Venezuela trying to start a war in the continent A small state isn't no state either

It is not working all his followers can tell you is trust the plan or but the previous government, also it goes beyond just the economy when it comes to security his policies are also failing, he has weekly scandals where government officials get replaced daily and all his spending of public funds on frivolous stuff like a millionaire party to mock his opponents.

You mean the peronists? 😂

The question is, will it actually end up having the poor better off in the long run?

Poverty is caused by a lack of economic growth.

Elites, regardless of ideology. The wealthy in power

@@agme8045the elite. Whatever ideology they happen to peddle whenever it suits them

INDEED A TOTAL LEGEND! VIVA LA LIBERTAD!🦁

it might fail, it might work. if it works, that'd be a sign for other defunct economies like south africa that change can work.

Economics are straight forward cuts will hurt GDP a lot.

New Zealand did this decade ago and flourished after it.

@@adamelghalmi9771 New Zealand did not have high inflation, dysfunctional institutions and it did not start with extreme austerity but with free market reforms. But also New Zealand benefitted from high commodity prices and wealthy immigrants. None of these factors apply to Argentina.

@@tobiwan001 argentina had a good bit of wealthy immigrants arriving from the early 40s to late 60s, but that was a select few individuals.

Hi there Javier Milei did not remove the welfare program, he slashed incompetent and corrupt sectors of the public works programs that were the states money for corruption and money laundering such as the note book scandal in which millions of dollars was funneled into fake housing projects that were never built or the numerous soup kitchens that were created by the former Kirchnerist government that was meant for the needy that didn't exist. When Javier Milei discovered what was going on he took action and launched criminal proceedings against several of the corrupt kirchnerists/Peronists politicians this is why he has slashes some of these public sectors and reduced incompetent staff to pave for a more transparent efficient Government! You want the true inside story go to LA Nacion or Las Ves Jonathan Viale their Argentine news channels you can use the youtube translator or id you understand Spanish then you will realise the true story for what it is! Javier Milei is a blessing for Argentina and has the brains and balls to move Argentina into a new prosperous path!

Because you arent paying the taxes and tariffs to operate in Argentina lol Litterally becoming cheaper to invest there

One leads to another

Also Argentina is on the continent that has seen the least conventional wars in the world basically since the end of the spanish conquest. South America is militarily suprisingly stable, the only wars in the 20th century that weren't civil wars that existed in South America were the Chaco War, the Ecuadorian-Peruvian War, the Cenepa War and the Falklands War. Really only the Chaco War was actually resonably large in scale, but happened in the 30s and Argentina wasn't involved. And the only war Argentina was involved in since 1870 was the Falklands war, which was instigated by Argentina itself. The likelyhood of Argentina being attacked by another nation in the somewhat near future is practically 0. Heavily investing in the military under these curmunstances seems to have only 2 goals: pandering to the military industrial complex, or in preperation of defending the state in case of civil war. Both of which are kinda dubious goals.

...you do know Argentina cant join NATO. Right? Its the north atlantic treaty organisation Argentina is in the south Atlantic.

LOL, Argentina can't apply for NATO membership......... See article 10 of the NATO charter.

@@thundereagle4130 including that yes. But it was about an association status anyway, not full membership.

It works just fine for the rich.

Austerity appears to work in the short term but in the long term it just destroys everything but when you are in a Democracy it doesn't matter because by the time everything crashes down it's another administration's problem.

Austerity works, the problem with austerity is when you don't back it up with tax cuts. The problem with the UK was that its beautiful government said: I'll stop funding healthcare and that's it, which obviously left it underfunded because if you don't back it up with deregulation/tax cuts so that the private sector absorbs that portion that you stopped funding, then it will be a disaster.

@@boink800 Tell that to the Argentine people that saw their public sector growing for the past years and only them getting rich.

​@@segiraldovi the "private sector" won't step up without heavy government subsidies, and then it often gives the same or even worse service at 15x the price, some things just don't benefit from being privatised.

It's only a matter of time before the people finally have enough of him, and they try to do the same thing to him which they did to De la Rua

Its actually because past administrations legt the budget emptied, so if any country gets angry at argentina they could just walk there because they couldnt even pay for ammo, so no its not about repressing its about having something to not die instantly lol

​@@HOI4notsoproplayer the military in Argentina was always used for cou'd etats...

I can assure you that absolutely nobody in the UK gives a flying fart about the “historic ties” with Argentina. Nobody here thinks of you as an enemy, in much the same way that only around 1% of the US population would be able to identify Vietnam on an unlabelled map.

The last goverment in its final days started spending like crazy to see if they could win, now there was literally no other way, no one is lending mony to argentina and we are broke soo...

That’s really not true. Argentina is doing just like it always did. Last year, under the previous administration, the poverty rate was already around 50%. Fixing a country’s economy doesn’t automatically lift people out of poverty, specially not when the thing that was keeping people out of poverty was at the very same time destroying the economy. The previous government was making everyone poorer, just to make some people less poor in the short term. That’s actually not helpful, and it’s not addressing the real underlying issues that make people poor, it’s dirty populism.

Yes that half of population under poverty is what peronism had left in the country, they don"t appears spontanously they got empoverish by a system that just care about the interest of politicians, and they were who vote for milei.

That’s exactly the type of thinking that got Argentina in this mess. Pain is necessary.

Argentina was already in a slope down. Do you think Argentina out of all countries would scape the Covid pandemic economical crisis?, people are getting poorer globally so it is an obvious faith. The reason why they are like that is because their products are not good enough for foreign investors to invest or buy from it. The only thing that can solve that is Milei doing business with the Chinese for example to boost certain industries to help cut down the prices. After that, a short path towards economical development with other developed economies could help alleviate the issue long term while also modernizing their local industries and maybe formalizing the economy.

Argentine agricultural exports are already growing.

Public services aren't engines of the actual economy, they destroy value taking value from the productive sector and transfering it ot the inproductive sector. Therefore GDP growth is irrelevant when it also counts public spending as something positive. Employment requires long term, sustained investiments because nobody will prepare their carrers or invest in companies when there are uncertainty in the horizon. You can't fix the mess of an bloated, corrupt government in a couple of months, neither in a couple of years. Things will get worse before they get better, fixing inflation is the founding stone of that.

Thought the same I mean we have massive falls of production in all sector, unmeployment rising, education and research unfunded, less consume. I dont understand how people claim that we will have an incresed GDP in 2025

Simple there isn't mass unemployment and most public jobs aren't actual jobs that create money, and it's not even as if he fired millions of people

yes. the rich with the military on their side, and the semi enslaved peasants serving them. was the political project not clear? it always seemed pretty obvious. it's whats largely been happening for the last 40 years in global economy, ever since reagan and tatcher. the consolidation of global mega corporations more powerful than democratic elected governments, the free flow of capital thru global financial markets, a stagnant working class, a disappearing middle class and the rich getting richer. the rise of the all powerful billionaires. back to the gilded age. and then back to the middle ages

The average person has no mind for what is important. That's how Argentina got into this mess.

THAT'S THE NUMBER ONE THING THAT THE ARGENTINE'S NEED TO FOCUS ON IS THE BUDGET! NO MORE FREE CHORRIPANS OR REFRIGERATORS THAT WERE GIVEN BY THE RIDICULOUS EX KIRHNERIST/PERONISTS GOVERNMENT THAT DESTROYED ARGENTINA THEY NEVER LEARN FROM THE PAST ! JAVIER MILEI IS THE MESSI OF ECONOMICS AND THE ONLY ONE WITH THE BRAINS AND BALLS TO CREATE A NEW ARGENTINA! MORE LIONS AND LESS SHEEP! VIVA LA LIBERTAD🦁

And obviously, his sheep will continue regurgitating everything. He says there's no way to argue with those people.

Hope? He's already succeeded. By next year, it will be undeniable even for the haters.

@@marcv2648 Líberborregos hasta en un video inglés

To us Neoliberals, the poor will be better off in the long run through investments into bussinesses than just funneling money into the poor's pockets now.

@@foundationgamer9771 - will that happen before or after they die of starvation or treatable diseases due to the defunding of the health system? Asking for an Argentinian friend

he's not a neoliberal

@@foundationgamer9771you take away the impoverished peoples’ income, you shrink demand and weaken the economy. What neoliberals do not understand is how expensive being poor actually is. Debt is more expensive, subsistence grocery buying is more expensive, and the nickel and dimes that should go into bettering their lives are eaten by arbitrary fees from businesses that always want more. Neoliberalism has opened the door to corporate oligopolies and oligarchical political control, hence why there has been a wave of political extremes winning seats of power where it was previously impossible. Separate ideology from economics, and divest your identity from your politics and it will be more obvious.

@@xFlRSTx - as in "Milei is neoliberal on steroids" or "he's actually left wing"?

He stated that he first wanted to balance the economy before anything else and he is doing that. There has been interviews whwre he talked about the other aspects of Libertarianism, but at this rate, the country is falling apart and to be an Anarcho-Capitalist. There first has to be capitalism, which there is not.

@@KeevanMegan I have a feeling he would actually be better described as a libertarian capitalist

@@benthomason3307 He describes himself as "Anarcho-Capitalist philosophically, but Minarchist in practice".

​@@benthomason3307 he was once on Italian television for an interview, a few months back. He was asked this question how is it that he is ancap but still a head of the state. He was explaining his views and that his philosophy is ancap but actually he is a minarchist (as someone else wrote here before). While I agree that its quite ironic but at the same time if libertarians refuse to go to politics just because its immoral to be a politician then their ideas will not be represented and only the people who view the government as a good thing will be the ones who will have the power. This way at least he is saying that the government is a bad thing and he is there to lower the government's power over people and give them freedom.

The lines aren't imaginary, 160% inflation isn't imaginary, Argentinians allow their political class to bribe them with subsidies instead of expecting financial responsibility. Yes poverty will go up, what do you expect when you start living within your means instead of relying on handouts from the IMF. Grow your economy, then you can have nice things paid for

Poverty was already skyrocketed, dog. That's why they voted for home. That's not news.

Poverty skyrocketed years before milei was even a politician, stop buying this bs

@@KeevanMegan yeah, and somehow he made it worse.

​@@ciro_costapoverty is decreasing bro, litterally socioeconomic issues are overall improving But tou dont seem to understand what shock-therapy means.

I noticed this too, it's fascinating! When socialists get 40 years of chances it's still "oh wow things are a mess, thank God for the socialist policy though because just think how bad it would be if we didn't have that to help us given how bad things are!" but with a libertarian leader they are blamed for all the problems and it's declared their policies are a failure after literally just a few months of it not fixing everything. This just goes to show the power of what a policy says on the tin. If a "child poverty reduction policy" does nothing to reduce child poverty it will still get A LOT of lee way just because it CLAIMS to reduce it. The inverse is also true, a policy of cutting programs in a way that is on paper indifferent to the problems they were meant to solve is lambasted for being callous and cruel even if the data shows the country is having dismal outcomes in the area the program being cut ostensibly fixes. I can see why this makes sense, why would you repeal the thing that says it fixes the problem you want solved? It makes sense people are fooled: convincing people of the value of freedom over intervention / Peronism can be counterintuitive, it's hard to fight against marketing that simply claims it will solve everything, even when you have data to show it's not helping and hasn't been for decades.

I mean he was the one who made bold promises to fix everything and secondly no one is expecting a miracle or denying the problems the economy had beforehand. I'm an economist for a living and I don't really think it was necessary to increase the poverty rate 15% to solve this problem.

The problem isnt that people want him to fix the economy in a snap but he obliterated it in a snap 20% of the industry gone over 57% of the population on the povertry line now from 40% 2 years ago so yeah... Milei comes butfuck the economy and then you say "well its beem only 6 months" yea imagine the damage he will do in 4 years

The Peronists didn't want an explosion in real poverty, which is exactly what has happened

We who are opposed to him, did not expect him to solve anything, we are only waiting for him to fail and give up. The people who was expecting miracles was his followers, because he himself had promised miracles.

Resource rich is actually one of the main drivers for unstable goverments. If you can get money from other sources than the population itself as a government it is much easier to maintain a corrupt goverment (or even outright dictatorship). The vast majority of resource rich countries are poorly run. And those that aren't usually already were stable countries before they found the riches (such as Norway, and to a lesser extend, the USA). A stable democracy is actually very hard to get and even harder to maintain. It's kind of a miracle that quite a lot of countries have managed to do it at all. Argentina doesn't have a long tradition of a democracy (only since 1983).

I have no words for limiting the spending for education and healthcare... and to spend more on military... Its so stupid. He is selling the future.

I AGREE DO YOUR RESEARCH IT ALL COMMENCED WITH THE PERONISTS/KIRCHNERISTS BEFORE THAT HAPPENED ARGENTINA WAS THE MOST PROSPEROUS AND ADVANCED NATION ON EARTH BY THE TURN OF THE 20TH CENTURY! THE PERONISTS HAD GOOD INTENTIONS AT THE BEGINNING WITH THE PUSH FOR INDUSTRIALIZED GOODS AND SERVICES AND MANUFACTURING HOWEVER THEY BECAME TO OVER PROTECTIONIST WITH SOME OF THEIR INDUSTRIES AND POLICIES WHICH HAD A GRADUAL EFFECT ON ARGENTINA'S ECONOMIC OUTLOOK BUT THE BIGGEST NEGATIVE IMPACT WAS WHEN THE PERONISTS BEGAN TO PRINT MORE MONEY ITS WHEN THE NIGHTMARE COMMENCED! MILEI IS DESTINED TO FIX ARGENTINA'S LONG TERM CHAOS AND HE WILL THROUGH HIS BRAINS COURAGE AND GOING AGAINST THE GRAIN IN ORDER TO ACHIEVE A NEW PROSPEROUS ARGENTINA! VIVA LA LIBERTAD!🦁

true, the military was mostly used for nefarious purposes in Argentina.

Continuing to print inflation into the system is harder

It is crucial not to throw all kinds of austerity measures into one basket and compare them all with what Thatcher did. Greece had gone through about a decade of austerity prescribed by the EU and the IMF and are now on a very positive trajectory. Argentina has even more reasons to cut back on government spending, given their exorbitant public sector. So while austerity has often made a sudden crisis worse in an otherwise good economy, it is sometimes necessary in an economy where populist or corrupt governments wasted huge sums of money.

@@TheSandkastenverbot while thatchers austerity was harsh, government finance in the 90s compared to 1979 was night and day difference, it's the groundwork laid by thatcher that enabled to big spend under the Blair years

In this case it's actually necessary, Argentina has been spending way beyond its means for decades.

The austerity is UK is nth compared to many other countries Besides many others are in far worse debt situation than the UK

He screwed over the pensioners, but then he immediately signed, and gave them some money, probably to appease them.

We are, this guy wont fix the country and the situation is worse than before

​@hmttd2272 your a classic Argentinian, your expecting him to give in? Carry on destroying the country and print more money so you can all get your handouts on the IMF expense? He's been in 6 months, he made it clear expect things to get worse before they get better. Argentinians are directly responsible for allowing their politicians to be so irresponsible and allowing their political class to bribe them with subsidies and cheap government money all these decades

There is literally, no way that anyone with no amount of plannets align that could solve this problem without hurting the citenzenship. Is like having a drug addict and you try to stop him consuming drugs, at the beggining it will be painful, stressful and horrible, but is for the best

@@martin-dw thats the retarded answer that a portion of our country repeats, milei promised that the consecuencies wouldnt be for the private sector. The handouts to people who dont work are bigger than before, you got scammed, sorry tho break it to you

⁠​⁠@@hmttd2272 Milei is implementing radical measures, yes, but we were always screwed. Or you prefer to forget the past administration with uncontrollable inflation, depreciation of the currency, poverty that is not very different from today’s and worse knowing their solutions were printing more money and price controls that did nothing?

GET OFF THE CRACK MATE HIS SLASHING INFLATION 9 MONTHS OF BUDGET SURPLUS ZERO DEFICIT PLAN SLASHING INEFFICIENT PUBLIC SECTORS THAT WERE INVOLVED IN CORRUPTION SCANDALS IMPROVED THE PRICES OF FOOD AS SUPERMARKETS INCREASING FOREIGN RESERVES IMPROVED GLOBAL INVESTMENT THE GUY IS AN ECONOMIC GENIUS!

Nah, i think its because he wants Argentina to be another global superpower. I believe he said he wants to join NATO

Yeah not super Libertarian of him but then again you live in South America.

@@melkormorgothbauglir.4848 look what they almost did to the President of Bolivia

@@thatweatherman4411 And Bolivia one of the more stable countries in South America its not like Columbia or nearly as bad as the favelas.

On that note RIP TGT

It's already getting better. You don't understand how economics works. It works the same way in every country. Countries don't obey different economic laws. The principles are the same.

Why? They are rats.

He called that to the congress people, whom if you knew them closer you would probably agree with him

He's talking about politicians in that case I wholeheartedly agree with him

@@ronnie926 Light weight

@@Testimony_Of_JTF Yeah buddy