Argentina's Milei wins Decisive Victory in Midterms

[x65943]

Argentina's Libertarian President Milei wins decisive victory in midterms held today. 1/2 of the seats in the chamber of deputies were up for grabs, primarily in the capital area which had been a stronghold for the Peronist opposition. Milei's nascent party is projected to hold some 64 seats. With this win, Milei will be able to veto Peronist bills and spending items, allowing him to continue his austerity measures which have cut monthly inflation from 12.8% to 2.1% and ushered in real economic growth.

The results, which have been described as better than even the most diehard Milei supporter could have hoped for, signal the general support of the people for the candidate who has brought real growth back to an economy that has been destroyed through decades of mismanagement. It remains to be seen how the economy will react, but observers expect the Argentinian stock market to tick up considerably Monday as investors can expect continued sensible monetary policy.

Of course, people will be watching to see the US response, which has already offered 20 Billion in currency swaps as well as an additional 20 Billion in a debt investment facility. Further effects remain to be seen, but some have noted increasing popularity of right wing parties throughout Latin America over the past few years that may signal changes are to be expected in the next Brazilian election.

https://www.reuters.com/world/ameri...es-test-mileis-libertarian-vision-2025-10-26/

 

[titan_tim]

Guess it's kind of expected when the entire country is being bribed with 40 billion dollars.

The money will go down the same hole that the rest of their money went down.

 

[x65943]

Guess it's kind of expected when the entire country is being bribed with 40 billion dollars.

The money will go down the same hole that the rest of their money went down.

Thankfully the Peronist money sink has been plugged mostly

 

[emigre]

Is he going to shut the fuck up about the Falklands now? Pretty standard fare for Argentine leaders to fuck up the economy and cry about the Falklands.

 

[x65943]

Is he going to shut the fuck up about the Falklands now? Pretty standard fare for Argentine leaders to fuck up the economy and cry about the Falklands.

I thought you were kidding, but sure enough just last month he was talking about the Falklands at the UN

 

[emigre]

I thought you were kidding, but sure enough just last month he was talking about the Falklands at the UN

I've lost count at how many argie leaders have cried about the Falklands mainly because they need a distraction for how shit they're doing.

 

[Xzi]

Thankfully the Peronist money sink has been plugged mostly

Uhh...didn't Milei immediately stage a massive vanity concert for himself after receiving the money? Several million down the shitter for bad karaoke there.

 

[x65943]

Uhh...didn't Milei immediately stage a massive vanity concert for himself after receiving the money? Several million down the shitter for bad karaoke there.

Would be interested to hear more

Are you saying Milei used tax payer dollars? Plz send article, I am interested

 

[Xzi]

Are you saying Milei used tax payer dollars? Plz send article, I am interested

Certainly a reasonable assumption considering the concert wasn't put on until after the initial $20 billion bailout was sent. Far as I can tell from some searching, Milei/the government has not disclosed where the funding for it came from.

 

[x65943]

Certainly a reasonable assumption considering the concert wasn't put on until after the initial $20 billion bailout was sent. Far as I can tell from some searching, Milei/the government has not disclosed where the funding for it came from.

It's pretty typical to have parties after elections, Hillary 2016 had a giant fireworks show planned that had to be canned

Anyhow, I see your claim was unsubstantiated now which makes it a lot less interesting

 

[Xzi]

It's pretty typical to have parties after elections, Hillary 2016 had a giant fireworks show planned that had to be canned

This was well before the election, early October.

https://www.thedailybeast.com/trump-backed-president-plays-concert-amid-crashing-economy/

Anyhow, I see your claim was unsubstantiated now which makes it a lot less interesting

Really? You need grifters to admit to their grifting before having your curiosity piqued in the slightest?

 

[x65943]

This was well before the election, early October.

https://www.thedailybeast.com/trump-backed-president-plays-concert-amid-crashing-economy/


Really? You need grifters to admit to their grifting before having your curiosity piqued in the slightest?

1. Holy shit that is some yellow journalism

2. Reading the (admittedly hard to read) "article", he was actually performing at a concert and sold tickets, doesn't exactly sound like a money losing venture? He used to play in a cover band

"put his country’s problems on the back burner for a few hours to play a rock concert and promote a book in a sold-out stadium."

 

[Xzi]

1. Holy shit that is some yellow journalism

2. Reading the (admittedly hard to read) "article", he was actually performing at a concert and sold tickets, doesn't exactly sound like a money losing venture? He used to play in a cover band

"put his country’s problems on the back burner for a few hours to play a rock concert and promote a book in a sold-out stadium."

Still costs a lot of money to put on such an extravagant a concert in the first place, and profiting from ticket sales only raises more questions than it answers since we don't know where those profits went either. In any case it seems like Milei is having the time of his life while 95% of Argentina's populace is only getting poorer despite becoming more productive. Feels like a competition between him and Trump for who can best channel the spirit of Marie Antoinette.

 

[x65943]

Still costs a lot of money to put on such an extravagant a concert in the first place, and profiting from ticket sales only raises more questions than it answers since we don't know where those profits went either. In any case it seems like Milei is having the time of his life while 95% of Argentina's populace is only getting poorer despite becoming more productive. Feels like a competition between him and Trump for who can best channel the spirit of Marie Antoinette.

Generally inflation is down, the economic outlook is improved, and Milei has a larger majority than ever

The country's future is no doubt brighter than it would have been under more Peronists

And regarding the concert, I'm not sure it was more extravagant than any other concert? It was held in a typical venue and people paid to show up - sounds like it was paid for by the ticket sales

 

[Xzi]

Generally inflation is down, the economic outlook is improved, and Milei has a larger majority than ever

Too early to tell on the economic outlook, cozying up to the Trump administration may end up hurting more than helping considering the value of the US dollar is down 10% just this year and predicted to fall another 10% by the end of the year. It's also meaningless to have a good economy on paper if the average citizen ends up worse off overall.

sounds like it was paid for by the ticket sales

We'd need some semblance of a free/independent press in Argentina to confirm that, and I don't believe such a thing exists there.

 

[x65943]

Too early to tell on the economic outlook, cozying up to the Trump administration may end up hurting more than helping considering the value of the US dollar is down 10% just this year and predicted to fall another 10% by the end of the year. It's also meaningless to have a good economy on paper if the average citizen ends up worse off overall.


We'd need some semblance of a free/independent press in Argentina to confirm that, and I don't believe such a thing exists there.

I can agree people have mixed feelings

At least the Argentina subreddit (for whatever that is worth) people were saying things had gotten better and it was nice knowing what groceries will cost from one month to the next

Of course for the many public servants who were let go things are different, but few can argue that the government was sustainable the way it was - at some point you must face reality and fix the budget

 

[Xzi]

Of course for the many public servants who were let go things are different, but few can argue that the government was sustainable the way it was - at some point you must face reality and fix the budget

Sure, I'm not arguing against the idea that stabilization was desperately needed. I'm just not convinced that Milei is creating a rising tide that will lift all ships, right now it looks more like he's using the momentum to build a giant private swimming pool instead.

 

[x65943]

Sure, I'm not arguing against the idea that stabilization was desperately needed. I'm just not convinced that Milei is creating a rising tide that will lift all ships, right now it looks more like he's using the momentum to build a giant private swimming pool instead.

We'll see

The main thing he will be judged by will be stabilizing the budget

Perhaps after things improve from a state coffer perspective, he will be voted out and austerity can end

Argentina has a long road ahead - but it will never get better if it can't escape the printing money trap

The duty of trying to socialize economic gains will come later under someone else than Milei if it comes (ofc a libertarian won't be the one to enact democratic socialism)

 

[Necron]

Thankfully the Peronist money sink has been plugged mostly

I think for the most part the USD reserves have been used to buy pesos to keep the exchange rather stable, but so far that hasn't worked (that) well. Before the swap deal, they had around 300 ish millions in reserve, having burned 1 billion before that.

 

[Flame]

If only Falklands was under Argentina control. They would have no problems.