In 2023, Argentina was dying:
• Central Bank $12B in debt
• 50% poverty rate
• 7,500% inflationThen Javier Milei became President. 11 months in, he’s pulling off the greatest economic turnaround ever.
Watch the full Javier Milei interview with Lex Fridman here.
Are you paying attention Poilievre?
Maybe if everyone sends him this link!
The world’s first libertarian federal government. The whole world is watching. Every German household should read/listen to this podcast. And everyone else. Harper was also am economist, correct?
I watched the Lex Fridman interview last week and Milei was incredible.
He is a true savior. Very smart and brave … like DJ Trump.
Poilievre had better mean what he’s been saying … because we have been listening.
He talks a good game but the proof will be in the pudding. Same with Trump. Sometimes the patient spits out the needed medication and the host ends up dying.
I think you missed your turn a couple of websites ago. You do not seem to belong here. Maybe it’s the nonsense you wrote, but what do I know.
Who me? What nonsense did I write?
this could be done in Canada were it not for the idiot in charge
Could it really ?
Maybe if things get bad enough.
Canadians gravitate towards comforting “thoughts”, at the expense of the obvious cold hard truth.
Sooner or later someone is going to pay the piper.
And I don’t see PP pointing that out .
Fernando has most of the story but not all. A series of seizures of bank and pension assets in the Zeroes had demolished Argentina’s credit rating. That country was unable to borrow money from anyone. The only exit was hyper-inflation.
But Millei’s policies have restored Argentina to CCC credit rating. This makes Argentina a much more reasonable place in which to invest. It should be remembered that 150 years ago, Argentina was a stronger, more prosperous nation than Canada. Lots of natural resources which Europe wanted.
Wally is right. If Argentina could do it, Canada can do it too. Most of what we have to do is get rid of Justatwit and Garden Gnome Barbie.
In the 1920’s and the 1930’s, there was an expressions “To be as rich as an Argentine!”. Then under the influence of Juan Peron and his wife Eva (Evita) the country became a welfare state and started taking from the Makers and giving to the Takers. By the late 1960’s, early 1970’s, the country had a series of Military Juntas to try and get the state back on to an even keel. But the problem of the “takers” was never resolved, until Javier Milei came along.
I truly think that Canada has to hit rock bottom (I wince at what that will do to my investments) before things will be corrected in this country.
Agreed. Juan and Evita were the beginning of Argentine fascism. And it continued on under the military junta. That regime collapsed only as a result of its major defeat at the hands of Britain in the 1983 Falklands war, but fascism continued onward until Millei.
Brazil had much the same trajectory: hugely rich in natural resources. But it has never escaped its socialists.
Try not to worry about your investments too much. The worst of Canada’s problems will start to be corrected when Justatwit and Jughead are thrown out of office next year.
If not for so many people who will put that idiot (or another alike, they are too easy to find) in charge and keep him there for so long. It took Argentinians a lot going wrong for a long time before they decided to try something really different.
Salvador run by another mad man.
Reagan and Thatcher did a pretty good job of turning things around too.
Agreed. But there was a problem. Thatcher was backstabbed by John Major. That goof promptly went around undoing much of what Thatcher had achieved.
And Reagan was succeeded by George Bush Sr. Most of us can remember that idiot. And his regime was so feeble that it opened the gates to Clinton and Arkanicide.
Yes, things can turn around for the better and then the wreckers first undermine that achievement and then start incrementally pushing the country over the cliff.
Which suggests even stronger that if our current crop of leaders wanted to, they would manage the economy better… IF THEY WANTED TO!!!
The problem IS government managing the economy.
That’s not something anyone should be voting for, ever.
When it comes to government, Less Is More.
I would humbly disagree. We need government to establish a platform so that the economy can function in a free and fair manner. That requires some level of regulation, and a means to enf0rce that regulation. Only government can play the role of referee.
The problem isn’t that the government is managing the economy. The problem is that they’re so bad at it.
This is what happens when the supremacy and responsibility of the individual is reestablished.
We shouldn’t be surprised at how well it’s gone for Pres. Milei … many of us have been advocating for serious cuts to the gov’t at all levels and we’re expected to be content when it looks like the gov’t is going to increase in size by 5% but only increases by 4% so we count this as a 1% reduction in what could have been…
It’s crazy
Can you imagine how Canada’s fiscal picture would look if the federal gov’t had a cabinet of 12 instead of the current 39 and some are noting there’s a gender imbalance which should be addressed? … even while the entire apparatus is well on its way to sinking?
Canada has 39 Cabinet members? Holy cripe. I thought our U.S. bureaucracy was bad! (And it is.) But that’s ridiculous. Canada’s population is a 10th that if the U.S
I looked up the 1962 cabinet. It was about 30 or slightly more.
https://en.wikipedia.org/wiki/18th_Canadian_Ministry
Hearing some of Milei’s speech that they allowed him to make at the WEF, it sounded like he was well read in Milton Friedman.
Really happy for Argentina. I’m sure that Canada will not follow the lesson, as they have to seek Canadian solutions to Canadian problems, because “that wouldn’t work here.”
As Word said above, I hope Poilievre is paying attention.
If he’s not, I guarantee he will be in a year or two.
Argentina has become a viable option to escape the communist hellhole Canada has become.
The funny thing is Chile once was and so was New Zealand. That didn’t last long.
Isn’t it amazing what happens when you stop letting government bureaucrats steal all the money in the country?
That’s all he’s doing. Stopping them from -stealing.- What a concept, eh?
Try to imagine what would happen in Canada if the total, cumulative tax on Canadians dropped to 15% maximum, and government headcount dropped to match. All they do is manage infrastructure, police and the army. Maybe not even infrastructure so much. What would happen?
So … with only 10 and 15% support from the elected representatives … he must have done all this by dictatorial decree? Executive orders run amok? Isn’t that what the Left say Trump is going to do? To rule like a communist Dear Leader (they never use THAT most obvious reference … except Trudeau who admires those basic powers).
Not to worry … the ollllld Republican Senate has: Susan Collins, Lisa Murkowski, and Joni Ernst to thwart every radically logical proposal by PDJT. Meanwhile … all our basic needs will get more and more expensive …
I worked in B.A. Argentina in the mid 1990’s. Walking down the streets downtown, I was surprised to see that you could buy a single tie and pay for it in monthly payments over a full year! Truly bizarre.
I was there around the same time reporting on an oil and gas congress and what stunned me was that all the gals in the bars no matter the time of day were prostitutes.
I had the same experience at two UNFCCC conferences in Milan and Montreal.
Argentina is too far to make a serious impact on Canadian public opinion.
It will be very different if Musk et al make a serious dent in government waste in the U.S. early in the term.
JM is not to be trusted.
https://www.weforum.org/people/javier-gerardo-milei/