Argentina isn’t going to drive global change via monetary brute force. Instead, it’s going to be an ideological example that the rest of the world can watch unfold successfully.
we saw a trial run in 2015/2016 with the presidential election in Austria going to an outsider (although subsequently overturned in the courts there), then Brexit then Trump. the entrenched elite fought back hard to regain their power, hence the turmoil in 2020 and the subsequent acceleration of every asinine idea from the left like men can be women and global boiling as well as the push to allow the WHO to make all global decisions in the next pandemic. But I agree, this is a noteworthy outcome and presages many elections in the next 18 months, obviously including ours in the US. I expect that the left has pushed too far and they are going to be routed all around the world. do not be surprised if AfD in Germany comes into power without a coalition in the 3 German states that have elections next year. people are fed up with the bullshit.
While I share your optimism I do so with concern that this guy is just a plant to get in power and continue much of before, perhaps even discredit the libertarian ideals you speak of. Remember Meloni in Italy.... god even the name sounds the same....
"...there would be an entire faction of Americans that would actually celebrate an attack on their own home country."
Like Jan.6?
From my perspective both hard left extremists and MAGAns are toxic. Libertarianism and Liberalism are twin poles---guideposts that need each other to form a successful country. Let's make the analogy of both hot and cold water to make the right shower temp.
As far as Trump being the great savior by cutting taxes, in his 4 years in office, he added 7 trillion to the federal deficit after promising to reduce it--a rate higher than any recent prez though Biden may outpace him (Clinton--projected balance budget, Bush--6 trillion in 8 years, Obama--8 trillion in 8 years, Biden 4.8 trillion in 3 years).
The real question is whether Milei will hit a wall of bureaucratic resistance (i.e. “deep state”) like Golden Man did in the US. Judging from the reaction of the US ruling class, the so-called alphabet agencies in the US government will do everything in their power to ensure this happens and Milei fails.
"Everybody knows what the fixes for the problem are—less spending and conservative monetary and fiscal policy—but nobody has the balls to implement it."
1. In what world does your Chump infatuation translate into ".....less spending and conservative monetary and fiscal policy"?
2. The day someone "has the balls to implement"......."less spending and conservative monetary and fiscal policy".......will be the day your beloved stawk market will cash never to recover, and this country will be revealed as the third-world, banana-republic shithole, with a dollar printing press, that it has been for the last 20 years.
You take away our dollar, no-limit credit card and try to apply reality to our fiscal policy, and a third of this welfare state would be dead within 6 months, and the survivors would be gathering in gangs to fight over controlling what resources were left.
Sorry to be such an ass on this, Chris. But I cannot sit by and let anyone extol the "financial virtues" of Donald Chump. If Milei is an Austrian economist and tries to implement that type of economic discipline, he and Chump will be "polar opposites."
Interesting essay that points out the unique and somewhat stunning election in Argentina of an eccentric liberatarian with a strong educational background in economics. His policies seem sound and his nature unique and original enough to keep things interesting. Also enjoyed QTR pointing out how the left has lost its mind along with its moral compass. Queers for Palestine?? Yeah, don't forget to throw me off the roof after you're done with the Jews.
Wow, you're feeling optimistic today! What a refreshing read. I'm feeling a tad more optimistic too. But I'm still overwhelmingly pessimistic. This country has its head so far up its ass it may never recover. I've been watching a TV show about the Roman Republic and how it ended. It is eerily similar to what is happening today. But maybe Argentina will show us the way this time. Who the hell knows. I'll give optimism a try. Why not? It will definitely improve my disposition. 🙂
Great piece, Chris. One clarification: You mentioned "Argentina is going to put... sound money... into practice", but also that Milei is adopting the US Dollar, which is not sound money. I keep waiting for someone to go back to a Gold standard, as that would truly be a gamechanger. Yes, governments prefer fiat (who wouldn't want the ability to create money from nothing?). Will it take hyperinflation as a forcing function? Probably, although it could be a tremendous capital boost for someone big to do it. Imagine the prosperity we'd share, the rebirth of America, if we just went back to the Constitution, including Article 1, Section 10 "No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts;". The sad thing is, no one even understands this, not even our most highly educated in every field. We are so far removed from the wisdom of our founders (which they did not have by chance, but only through the careful study of history). Was it by design or happenstance that our institutions lost sight of the most important lessons of history, the concepts of liberty, sound money, Austrian economics and Natural Law? BTW, like you, I am trying to bring it back with our line of 'better bedtime stories' (had to toss that in, but not the reason for the comment).
This sounds like a great way to demonstrate to the world how to implement all the ideals while selling it as "New Freedom".
-CBDC thanks to the central bank closure (but not Bitcoin, it will be the Gov. variant)
-Devaluation of the peso, to drive the population into poverty and CBDC dependance
-No civil service to foil the plans (get rid of the troublemakers)
Also @QTR your conversation with the gentleman in his 60's was more likely him lamenting all the immigrants who don't give a toss about MAGA, given they want to convert the country to their religions and ideals instead. True they don't love or revere the flag and nation, but I don't believe its going to be the red, white & blue citizens rejoicing after something bad happens in their back yard.
Mr. Trump is no "Conservative." Wm. F. Buckley, Jr. is spinning in his grave over what has happened to small government and less federal spending by the party formerly known as the GOP. Nikki Haley wants pre-emptive war with Iran? Desantis uses taxpayer dollars to fight protected speech and behavior by private corporations? Where's a Conservative on that debate stage? St. Ronnie couldn't get the nomination today.
The Tax cuts and Jobs Act blew a trillion dollar a year hole in the budget when times were "good" and while that may seem minuscule in today's terms, it certainly wasn't Conservative. More like "Voodoo Economics" We need some f'ing common sense, maybe like Paine suggested. There is no Conservative movement or party in the US. Change my mind
I think the problem is simple: the majority of the people in the West have no representation. Sure, they vote for politicians. But those politicians then enact laws and policies that enrich themselves, their families, and their voting blocs at the expense of the majority, the average American (or avg. citizen of the West). And there is never accountability for this b/c everyone who is allowed on the ticket (at state and federal levels, at least) is on-board with this dynamic.
E.g., everyone agrees somewhat flippantly that we have a Uniparty in the US...but no one seems to start with that fact in any analysis of what is going on. Instead, everyone defaults to talking about (R)s vs. (D)s, as if the two parties are different in some substantive way. They are not. Did the spending decrease under (R) presidencies or (R) congresses? Nope. Did the wars stop? Nope. Did government size and power increase or decrease with (R)s in control? It increased, massively. It's thanks to W and Cheney that we are under surveillance by our own government now. Did the culture continue its leftward slide no matter which party held power? Yep. Did (R)s vote to mandate covid shots for everyone (except themselves, of course)? Yep. They're on the same team. They have the same values: big government, big business, globalism, and extremely, uh, "libertine" social values. There is no daylight b/w the "two parties."
I don't know the solution, but I can say that if we don't properly identify the core issue (i.e., we don't actually have a meaningful choice - our choices are basically bigger government or biggest government), we'll never find a solution. We'll just be stuck in finger pointing and name calling while the "two party" charade goes on.
That's a long-winded way of saying I'm happy about the Millei election, if only because it pushes open the range of possible and acceptable options a little bit. It suggests that, at least in Argentina, some sizable chunk of voters have seen through the charade and are ready to ditch government as a necessary part of the solution to every "problem." Time will tell if it makes a dent in what citizens think the relationship b/w a people and its government can/should look like.
we saw a trial run in 2015/2016 with the presidential election in Austria going to an outsider (although subsequently overturned in the courts there), then Brexit then Trump. the entrenched elite fought back hard to regain their power, hence the turmoil in 2020 and the subsequent acceleration of every asinine idea from the left like men can be women and global boiling as well as the push to allow the WHO to make all global decisions in the next pandemic. But I agree, this is a noteworthy outcome and presages many elections in the next 18 months, obviously including ours in the US. I expect that the left has pushed too far and they are going to be routed all around the world. do not be surprised if AfD in Germany comes into power without a coalition in the 3 German states that have elections next year. people are fed up with the bullshit.
While I share your optimism I do so with concern that this guy is just a plant to get in power and continue much of before, perhaps even discredit the libertarian ideals you speak of. Remember Meloni in Italy.... god even the name sounds the same....
Rooting for Milei, too. “Stepping down to the studs” is exactly the medicine for decades of excess & malinvestment.
"...there would be an entire faction of Americans that would actually celebrate an attack on their own home country."
Like Jan.6?
From my perspective both hard left extremists and MAGAns are toxic. Libertarianism and Liberalism are twin poles---guideposts that need each other to form a successful country. Let's make the analogy of both hot and cold water to make the right shower temp.
As far as Trump being the great savior by cutting taxes, in his 4 years in office, he added 7 trillion to the federal deficit after promising to reduce it--a rate higher than any recent prez though Biden may outpace him (Clinton--projected balance budget, Bush--6 trillion in 8 years, Obama--8 trillion in 8 years, Biden 4.8 trillion in 3 years).
This guy will fail miserably......like Trump, big mouth, little substance. No one cares about Argentina other than soccer fans.Sorry!
The real question is whether Milei will hit a wall of bureaucratic resistance (i.e. “deep state”) like Golden Man did in the US. Judging from the reaction of the US ruling class, the so-called alphabet agencies in the US government will do everything in their power to ensure this happens and Milei fails.
"Everybody knows what the fixes for the problem are—less spending and conservative monetary and fiscal policy—but nobody has the balls to implement it."
1. In what world does your Chump infatuation translate into ".....less spending and conservative monetary and fiscal policy"?
2. The day someone "has the balls to implement"......."less spending and conservative monetary and fiscal policy".......will be the day your beloved stawk market will cash never to recover, and this country will be revealed as the third-world, banana-republic shithole, with a dollar printing press, that it has been for the last 20 years.
You take away our dollar, no-limit credit card and try to apply reality to our fiscal policy, and a third of this welfare state would be dead within 6 months, and the survivors would be gathering in gangs to fight over controlling what resources were left.
Sorry to be such an ass on this, Chris. But I cannot sit by and let anyone extol the "financial virtues" of Donald Chump. If Milei is an Austrian economist and tries to implement that type of economic discipline, he and Chump will be "polar opposites."
Interesting essay that points out the unique and somewhat stunning election in Argentina of an eccentric liberatarian with a strong educational background in economics. His policies seem sound and his nature unique and original enough to keep things interesting. Also enjoyed QTR pointing out how the left has lost its mind along with its moral compass. Queers for Palestine?? Yeah, don't forget to throw me off the roof after you're done with the Jews.
Wow, you're feeling optimistic today! What a refreshing read. I'm feeling a tad more optimistic too. But I'm still overwhelmingly pessimistic. This country has its head so far up its ass it may never recover. I've been watching a TV show about the Roman Republic and how it ended. It is eerily similar to what is happening today. But maybe Argentina will show us the way this time. Who the hell knows. I'll give optimism a try. Why not? It will definitely improve my disposition. 🙂
Great piece, Chris. One clarification: You mentioned "Argentina is going to put... sound money... into practice", but also that Milei is adopting the US Dollar, which is not sound money. I keep waiting for someone to go back to a Gold standard, as that would truly be a gamechanger. Yes, governments prefer fiat (who wouldn't want the ability to create money from nothing?). Will it take hyperinflation as a forcing function? Probably, although it could be a tremendous capital boost for someone big to do it. Imagine the prosperity we'd share, the rebirth of America, if we just went back to the Constitution, including Article 1, Section 10 "No State shall... make any Thing but gold and silver Coin a Tender in Payment of Debts;". The sad thing is, no one even understands this, not even our most highly educated in every field. We are so far removed from the wisdom of our founders (which they did not have by chance, but only through the careful study of history). Was it by design or happenstance that our institutions lost sight of the most important lessons of history, the concepts of liberty, sound money, Austrian economics and Natural Law? BTW, like you, I am trying to bring it back with our line of 'better bedtime stories' (had to toss that in, but not the reason for the comment).
Keep up the good work!
Milei is a WEF plant:
https://www.weforum.org/people/javier-gerardo-milei/
This sounds like a great way to demonstrate to the world how to implement all the ideals while selling it as "New Freedom".
-CBDC thanks to the central bank closure (but not Bitcoin, it will be the Gov. variant)
-Devaluation of the peso, to drive the population into poverty and CBDC dependance
-No civil service to foil the plans (get rid of the troublemakers)
Also @QTR your conversation with the gentleman in his 60's was more likely him lamenting all the immigrants who don't give a toss about MAGA, given they want to convert the country to their religions and ideals instead. True they don't love or revere the flag and nation, but I don't believe its going to be the red, white & blue citizens rejoicing after something bad happens in their back yard.
Great article Chris, I totally agree, lets hope someone doesn't take out Javier Milei, he is to me like Trump.
Mr. Trump is no "Conservative." Wm. F. Buckley, Jr. is spinning in his grave over what has happened to small government and less federal spending by the party formerly known as the GOP. Nikki Haley wants pre-emptive war with Iran? Desantis uses taxpayer dollars to fight protected speech and behavior by private corporations? Where's a Conservative on that debate stage? St. Ronnie couldn't get the nomination today.
The Tax cuts and Jobs Act blew a trillion dollar a year hole in the budget when times were "good" and while that may seem minuscule in today's terms, it certainly wasn't Conservative. More like "Voodoo Economics" We need some f'ing common sense, maybe like Paine suggested. There is no Conservative movement or party in the US. Change my mind
I think the problem is simple: the majority of the people in the West have no representation. Sure, they vote for politicians. But those politicians then enact laws and policies that enrich themselves, their families, and their voting blocs at the expense of the majority, the average American (or avg. citizen of the West). And there is never accountability for this b/c everyone who is allowed on the ticket (at state and federal levels, at least) is on-board with this dynamic.
E.g., everyone agrees somewhat flippantly that we have a Uniparty in the US...but no one seems to start with that fact in any analysis of what is going on. Instead, everyone defaults to talking about (R)s vs. (D)s, as if the two parties are different in some substantive way. They are not. Did the spending decrease under (R) presidencies or (R) congresses? Nope. Did the wars stop? Nope. Did government size and power increase or decrease with (R)s in control? It increased, massively. It's thanks to W and Cheney that we are under surveillance by our own government now. Did the culture continue its leftward slide no matter which party held power? Yep. Did (R)s vote to mandate covid shots for everyone (except themselves, of course)? Yep. They're on the same team. They have the same values: big government, big business, globalism, and extremely, uh, "libertine" social values. There is no daylight b/w the "two parties."
I don't know the solution, but I can say that if we don't properly identify the core issue (i.e., we don't actually have a meaningful choice - our choices are basically bigger government or biggest government), we'll never find a solution. We'll just be stuck in finger pointing and name calling while the "two party" charade goes on.
That's a long-winded way of saying I'm happy about the Millei election, if only because it pushes open the range of possible and acceptable options a little bit. It suggests that, at least in Argentina, some sizable chunk of voters have seen through the charade and are ready to ditch government as a necessary part of the solution to every "problem." Time will tell if it makes a dent in what citizens think the relationship b/w a people and its government can/should look like.
He's affiliated with the WEF. He has already changed his position about central banks. Just another politician seeking power and influence.
I’d be a lot happier if Jav denounces his WEF status along with the pile of shit that is Davos.