Milei campaigned on his plans to replace the peso with the U.S. dollar and ultimately dissolve the country's Central Bank. He also opposes abortion, doesn't believe humans are responsible for climate change, and has praised Trump; his own supporters wear hats with the slogan "Make Argentina Great Again."
this post was submitted on 21 Nov 2023
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Idiocracy was not supposed to be a documentary.
Also, and I am not making this up I swear, he claims he ran for president because he had a seance for his dead dog and the dog's ghost told him to. And people knew that and still voted for him.
He also sleeps with his sister and made her the first lady.
When a political opponent branded him a 'dishevelled panellist who screams on stage and sleeps with eight dogs and his sister, Milei simply replied: don't have eight dogs'.
One check on the cost of sovereign debt is that its denominated in the currency issued by your own central bank. If your economy tanks at least your debts are denominated in the same increasingly shitty currency. You also lose any levers you might be able to push to manipulate the situation to your own advantage and become vulnerable to the monetary policy of another nation which you hope is still an ally.
This my economics 101 level interpretation. Is this not completely crazy?
From what I've read, his dollarization scheme is pretty out there and is complicated in that the treasury is already light on dollars and no one wants to lend the country money to buy more. In addition, citizens would dump their pesos en masse; it would be an economic suicide of sorts.
Milei has little pull in the chambers of power, but that said, he has scored allies during the campaign. Argentina also has a history of civil unrest against neophyte governments and so there's that bugbear also.
Republicans, libertarians, conservatives--are they getting rather fascist lately or what?
This is the best summary I could come up with:
Republicans are celebrating the results of an election thousands of miles away after their favored candidate won Argentina's run-off presidential poll and declared victory on Sunday.
Javier Milei, a populist politician who describes himself as a libertarian, has vowed to roll back the state and drastically overhaul Argentina's ailing economy.
He was congratulated by a string of American Republicans, including Donald Trump, who were thrilled with the outcome of the vote amid hopes their party's presidential contender will enjoy a similar victory in the U.S. next year.
He also opposes abortion, doesn't believe humans are responsible for climate change, and has praised Trump; his own supporters wear hats with the slogan "Make Argentina Great Again."
Although still months away, the battle to choose the Republican nominee has been particularly fierce and beset with controversies as former president Trump squares up against Florida governor Ron DeSantis.
The former currently trounces the latter in the polls— despite a string of legal woes and a Colorado judge's ruling that he committed an insurrection against the United States Constitution on January 6, 2021, after losing the 2020 election to Joe Biden.
The original article contains 668 words, the summary contains 187 words. Saved 72%. I'm a bot and I'm open source!
Argentina really lining up for a downgrade to Cuprumna