Congratulations Argentina

[Shred]

I started opposing him the moment he opened his mouth, the more he speaks the more he comes across as another lunatic.

I respect the ballot box, but Argentina needs better next time.

[MiltantCentrist]

I started opposing him the moment he opened his mouth, the more he speaks the more he comes across as another lunatic.

I respect the ballot box, but Argentina needs better next time.

He isn't likely to last long.

[Shred]

The big question is whether he starts to be a threat to the Falkland islanders.
If he does, then he's a problem for me.

If he doesn't, then he's a problem for the Argentine people to overcome (and I hope they end up with a moderate).

They desperately need to sort out their tax system, make it work and pay down their debts.
Their national debt is a staggering 80.3% of their GDP.

There's one additional problem.
Argentine customs delays hamper exports from Argentina.

Speaking from personal experience, my gliding club has a towing aircraft, the parts for which are made in Argentina.
It takes 3 months at present for a part to be shipped over from Argentina because their customs are extremely slow in releasing goods manufactured there.

If they sort out their customs issues all Argentinian exports will be more saleable and the Argentine economy will grow.

[clusterchuck]

Full scale launch of blood curdling character assassination TBD.

CharacterAssassinationPendingFullScaleLaunch.jpg

CharacterAssassinationPendingFullScaleLaunch`.jpg

[Shred]

Trump's a crook he'll be in prison soon.

Bolsonaro caused a huge number of COVID deaths he won't be back.

Extremist nutters.

[Shred]

As I was saying about Javier Milei.
https://www.bbc.co.uk/news/uk-politics-67487881

He's a nut, he can get in the sea.

The Falkland Islands sovereignty is a matter for the islanders, not Argentina.

[clusterchuck]

The BBC is an NWO RAG

[nolaxride]

Let's see how well Argentina does without a central bank. Would could possibly go wrong?

As for a market in human organs... if someone's on death row, why not?

[Shred]

The BBC is an NWO RAG

What a load of cobblers.

Meanwhile the Falklands are a British overseas territory and the rights of the islanders matter. A here today gone tomorrow Argentine President doesn't.

[clusterchuck]

Argentine markets react with optimism to Milei election
AFP November 21, 2023 10:01 am

Argentina’s stock market reacted with optimism Tuesday to the resounding election win by libertarian Javier Milei, despite the country being gripped by uncertainty over what changes the self-described “anarcho-capitalist” will bring.

Milei, a 53-year-old economist who has vowed to scrap multiple government departments and sometimes campaigned by waving a chainsaw from the stage, trounced Argentina’s long-dominant Peronist coalition as voters punished the government for decades of economic decline.

Latin America’s third-biggest economy is creaking under annual inflation of 143 percent.

Monday, the day after the election, was a public holiday in Argentina, delaying the market reaction. But immediately Tuesday, the stock market opened up 20 percent, before easing off to gains of about 14 percent.

Argentina’s peso is strictly controlled, and the informal “blue dollar” exchange rate — seen as a barometer of panic in the country — reacted with moderation, rising slightly to 1,050 pesos to the dollar.

The rate is almost three times the official rate of 371.50, and analysts warn a devaluation is long overdue.

Milei has vowed to ditch the peso for the US dollar and shut down the central bank — which he accused of rampant money printing to finance government overspending — in a bid to halt inflation.

During his campaign he said he would slash state spending and ditch about 10 government of ministries, among other controversial proposals.

However, he later toned down some of his rhetoric, leaving great uncertainty over his actual plans.

– ‘Own goal’ –

While stocks reacted favorably to Milei’s Sunday win, Mexican President Andres Manuel Lopez Obrador was less enthusiastic, comparing his election to an own goal in soccer.

“To put it in a word, with all due respect, it was an own goal and I do not agree, although I respect the decision of the people with right-wing governments,” he said during a Tuesday news conference, without directly naming Milei.

Analysts have said that, given Argentina’s massive problems, any fixes are going to inevitably bring economic pain.

In his first interviews on Monday after the election, Milei warned it would take up to two years to tame inflation, and laid out his plans to reform the state.

Milei said “everything that can be in the hands of the private sector is going to be in the hands of the private sector,” including the state oil company YPF and state media.

The rise on Argentina’s stock market was led by state oil company YPF whose shares rose 34 percent after Milei’s remarks.

On Monday, YPF shares listed on Wall Street were up 40 percent at closing.

Milei also said he would push for the elimination of strict currency exchange controls — with analysts saying the official rate of the peso to the dollar is an expensive fiction.

Asked about his dollarization platform, Milei said the priority was “to close the central bank. Then the currency will be the one that Argentines freely choose.”

Milei on Monday held his first meeting with outgoing President Alberto Fernandez to co-ordinate the transition ahead of his inauguration on December 10.

https://insiderpaper.com/argentine-stoc ... -election/