Loony right winger Javier Milei won Argentina's last Presidential election and immediately embarked on an economic program based on theories discredited for about a 100 years. I remember Earl singing his praises, but, predictably, reality set in and he's managed to crash the country's economy. Unsurprisingly, he went to the not too bright Trump administration to help him out with elections looming that were expected to hand his coalition a crushing defeat.
And lo and behold, US taxpayers are buying up $20 billion of rapidly devaluing Argentinian pesos to prop up this clown:
"“The U.S. Treasury is prepared, immediately, to take whatever exceptional measures are warranted to provide stability to markets,” Bessent said in a statement on X.
Bessent last month announced that the U.S. was willing to offer a financial backstop for Argentina’s leader Javier Milei to help stabilize the nation’s economy ahead of October midterm elections that are critical to Milei’s ability to continue advancing his agenda, a dramatic government cost-cutting strategy that has been cheered on by the Trump administration.
The swap line would effectively provide Argentina with U.S. dollars in exchange for an equivalent amount of Argentine pesos for a certain period of time until they’re swapped back. If the value of Argentina’s currency goes down in value during that time relative to the U.S. dollar, that could expose the U.S. to losses."
https://www.politico.com/news/2025/10/09/trump-economic-rescue-argentina-00600290
Another fun fact: Trump's insane tariff policies have proven a boon to Argentina's soybean producers, since China has stopped buying US soybeans and moved to alternate sources:
"China halted purchases of American soybeans this spring in retaliation for the Trump administration's tariffs, as a means of looking to gain leverage in trade talks by shifting its purchases away from U.S. producers to countries such as Brazil and Argentina. China is the world's leading importer of soybeans, bringing in 61% of the world's traded soybean supplies over the last five marketing years, according to data from the American Soybean Association (ASA). "
"Gerlt said that South American soybean producers in Argentina and Brazil are likely to take advantage of China's demand for soybeans amid the country's trade dispute with the U.S., which could have longer-term impacts on American farmers."
https://www.msn.com/en-us/money/markets/american-soybean-farmers-face-financial-crisis-as-china-trade-dispute-threatens-livelihoods/ar-AA1O9cV1?ocid=BingNewsSerp
Of course, the administration is working on a taxpayer funded bailout of US soybean farmers because of Trump's trade policies.
America First?
@no1marauder saidAmerica First?
Loony right winger Javier Milei won Argentina's last Presidential election and immediately embarked on an economic program based on theories discredited for about a 100 years. I remember Earl singing his praises, but, predictably, reality set in and he's managed to crash the country's economy. Unsurprisingly, he went to the not too bright Trump administration to help hi ...[text shortened]... taxpayer funded bailout of US soybean farmers because of Trump's trade policies.
America First?
It looks like "Trump first" to me. Using another petty dictator to further his own agenda is how they operate. Trump will find a way to profit off of this, no matter how many people he has to exploit.
P.S. Congrats of getting over 2100!
@no1marauder saidWhy waste 20 billion on infrastructure, education and health, when you can better spend it propoing up a loony rightwing moron in Argentina?
Loony right winger Javier Milei won Argentina's last Presidential election and immediately embarked on an economic program based on theories discredited for about a 100 years. I remember Earl singing his praises, but, predictably, reality set in and he's managed to crash the country's economy. Unsurprisingly, he went to the not too bright Trump administration to help hi ...[text shortened]... taxpayer funded bailout of US soybean farmers because of Trump's trade policies.
America First?
@no1marauder saidYou are a leftwing socialist progress-hating nutcase. Here is the truth about what is going on in Argentina and people are calling it an economic miracle.
Loony right winger Javier Milei won Argentina's last Presidential election and immediately embarked on an economic program based on theories discredited for about a 100 years. I remember Earl singing his praises, but, predictably, reality set in and he's managed to crash the country's economy. Unsurprisingly, he went to the not too bright Trump administration to help hi ...[text shortened]... taxpayer funded bailout of US soybean farmers because of Trump's trade policies.
America First?
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Milei’s Economic Miracle: How Argentina Slashed Inflation to 1.5%
Argentina’s economist-turned-president has defied the odds (and the experts’ opinions) to set a “society sick with socialism” back on a path to fiscal health.
In November 2023, Argentina faced a staggering inflation rate of 211.4 percent and a poverty rate of 41.7 percent, affecting 19.5 million people living below the poverty line. The country was heading into elections with two starkly different candidates: Sergio Massa, a Peronist from the ruling coalition that had dominated Argentine politics for most of the twenty-first century (except for Mauricio Macri’s term), and Javier Milei, a libertarian outsider who gained fame through theatrical TV appearances denouncing socialism and preaching free-market economics in a nation steeped in statist ideology.
The idea that Milei could win the presidency seemed almost utopian. He faced not only what he called a “society sick with socialism” but also a well-oiled, decades-old Peronist political machine determined to cling to power. With a newly formed party and no political experience, Milei was at a clear disadvantage. To make matters worse, in the months leading up to the election, Sergio Massa, then Minister of Economy, employed various tactics to curb Milei’s libertarian momentum. Milei accused Massa of funding his campaign through uncontrolled money printing, which fueled inflation (140 percent annually in October 2023) and a 50 percent peso devaluation in August 2023. These measures clearly prioritized short-term electoral gains over Argentina’s economic stability — a heavy burden Milei would inherit.
When Javier Milei was declared the winner with over a 10-point margin, the shock was immense. There was widespread joy, but Milei also inherited a colossal challenge, as he famously declared in his first speech to the nation: “There is no money.”
What the “Experts” Said
On November 8, 2023, days before the election, The Guardian published an article about a letter signed by over 100 economists, including Thomas Piketty, Jayati Ghosh, and Branko Milanovic. They warned that electing Milei would bring “devastation” to Argentina, urging support for the very leaders who had driven inflation above 200 percent. Stabilizing a nation with Argentina’s economic indicators seemed not only daunting but nearly impossible in the short term. Yet, just a year and a half after Milei took office, the only thing “devastated” was the dire prediction of those 100+ experts.
The Economic Miracle
“There is no money,” Milei repeated relentlessly, and Argentines understood. On his inauguration day, they cheered a leader who, instead of promising the state would solve all their problems, vowed to get it out of their way. He urged citizens to tighten their belts and save resources to rebuild the nation.
Milei’s first step was balancing the budget. Through an aggressive program of public spending cuts, eliminating bureaucracy, and reducing public sector jobs, he erased Argentina’s massive fiscal deficit, paving the way for a historic economic recovery. Under his leadership, Argentina began taming inflation with rare fiscal discipline, not just regionally but globally. The latest data is astonishing: in May 2025, the consumer price index rose by just 1.5 percent, the lowest in five years. Remarkably, Milei achieved this without price controls but by liberalizing the economy, fostering market confidence, and slowing inflation. Annual inflation dropped from 211.4 percent in 2023 to 43.5 percent by mid-2025. Wholesale prices even fell by 0.3 percent in May, the best figure in 17 years. Poverty also declined sharply, from 52.9 percent in the first half of 2024 to 38.1 percent in the second, with UNICEF noting that 1.7 million children were lifted out of poverty since Milei took office.
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https://thedailyeconomy.org/article/mileis-economic-miracle-how-argentina-slashed-inflation-to-1-5/#:~:text=The%20Economic%20Miracle&text=Milei's%20first%20step%20was%20balancing,for%20a%20historic%20economic%20recovery.
@no1marauder saidSo a leftist govt destroyed the country, now a libertarian is bringing it back.
Loony right winger Javier Milei won Argentina's last Presidential election and immediately embarked on an economic program based on theories discredited for about a 100 years. I remember Earl singing his praises, but, predictably, reality set in and he's managed to crash the country's economy. Unsurprisingly, he went to the not too bright Trump administration to help hi ...[text shortened]... taxpayer funded bailout of US soybean farmers because of Trump's trade policies.
America First?
Seems your leftist media has made you look foolish once again.
“
AI Overview
No, the economy is not currently considered "good," but it is showing signs of recovery after a period of instability. The current government is implementing stabilization measures that have led to a significant reduction in inflation, a return to fiscal surplus, and projected GDP growth for 2025 and 2026. However, the economy still faces major structural challenges and has a high poverty rate.
Signs of recovery
Decreasing inflation: Monthly inflation has fallen significantly since December 2023.
Fiscal surplus: Argentina achieved a primary fiscal surplus for the first time in years, and the government aims to maintain a balanced budget for 2025.
Projected GDP growth: The economy is expected to grow in 2025 and 2026, supported by macroeconomic stability and a favorable performance in agriculture.
Reduced exchange rate gap: The gap between the official and parallel exchange rates has narrowed considerably, a positive sign for potential market liberalization.
Ongoing challenges
High poverty: Despite some improvements, poverty rates remain high, and many citizens are struggling to afford basic necessities.
Structural issues: The economy still contends with a complex tax system, high bureaucracy, a lack of public infrastructure investment, and a high level of labor market informality.
Political uncertainty: Political polarization remains high, and the long-term success of the government's reforms will depend on continued structural changes and attracting foreign investment.
Impact of reforms: The initial effects of austerity measures have been painful for some sectors, such as retirees, and long-term effects on employment are a concern
@Rajk999 saidGee sounds great, guess they don't need an economic bailout after all! Except their unemployment rate has shot up, there's a high rate of poverty and their currency is collapsing. Typically, these laissez faire policies are aimed at the poor and working class:
You are a leftwing socialist progress-hating nutcase. Here is the truth about what is going on in Argentina and people are calling it an economic miracle.
**********************************
Milei’s Economic Miracle: How Argentina Slashed Inflation to 1.5%
Argentina’s economist-turned-president has defied the odds (and the experts’ opinions) to set a “society sick with s ...[text shortened]... ic%20Miracle&text=Milei's%20first%20step%20was%20balancing,for%20a%20historic%20economic%20recovery.
"Many Argentinians are struggling with rising prices for food, rent, and services that still outpace incomes, while subsidy cuts, layoffs, and wage freezes have hit the poor especially hard. "
"The effects have been socioeconomically catastrophic for the Argentinian people. Currently, over 38% of Argentines are living in poverty. In 2024, the country saw a poverty rate that was as high as 52.9%. The majority of Argentina’s population was living in poverty last year. "
And it's all for nought:
". The central bank has been forced to sell hundreds of millions of dollars almost every day to defend the peso’s band. Reserves were already thin, and analysts say it could take up to 10 billion dollars to keep the peso steady until October’s midterm elections. That is a staggering amount given Argentina’s limited resources, and it raises real doubts about how long this defense can continue. This leaves the country at a turning point. Without fresh inflows of dollars, stronger exports, or firmer political backing, the framework looks unstable.
If reserves run dry or investor faith collapses, Argentina may be forced into a devaluation that would mean higher prices, more volatility, and another blow to Milei’s program."
https://blogs.shu.edu/stillmanexchange/2025/10/01/argentinas-twin-deficits-and-the-peso-crisis-mileis-reforms-amid-imf-and-u-s-bailouts/
Every time some right wing crank pushes an austerity program on his country's People, the propaganda machine claims they've created an "economic miracle". It soon all fades to dust and disaster.
@no1marauder saidOf course there will be some hardship. After about 50 years of mismanagement by socialist dunces, people have to learn to get off their butts and work instead of living off handouts. Argentina is rich in natural resources and according to the experts things are turning around.
Gee sounds great, guess they don't need an economic bailout after all! Except their unemployment rate has shot up, there's a high rate of poverty and their currency is collapsing. Typically, these laissez faire policies are aimed at the poor and working class:
"Many Argentinians are struggling with rising prices for food, rent, and services that still outpace incomes, ...[text shortened]... aganda machine claims they've created an "economic miracle". It soon all fades to dust and disaster.
@Rajk999 saidA country's most valuable natural resource is its People. Right wingers are contemptuous of the workers who make economic prosperity possible and rely on a top down economic approach that never works. Austerity budgets which increase unemployment only exacerbate such difficulties; a consumer based economy with strong social welfare protections is the only established way a capitalist economy can work.
Of course there will be some hardship. After about 50 years of mismanagement by socialist dunces, people have to learn to get off their butts and work instead of living off handouts. Argentina is rich in natural resources and according to the experts things are turning around.
Foreign bailouts for failed policies are a waste of time and money.
@no1marauder saidOf course the most important resource is people .. productive working people. Not the kind of lazy bums that socialism encourages, living off welfare and begging for freebies.
A country's most valuable natural resource is its People. Right wingers are contemptuous of the workers who make economic prosperity possible and rely on a top down economic approach that never works. Austerity budgets which increase unemployment only exacerbate such difficulties; a consumer based economy with strong social welfare protections is the only established w ...[text shortened]... capitalist economy can work.
Foreign bailouts for failed policies are a waste of time and money.
@no1marauder saidLet’s see, a right leaning president is haveing to clean up the mess left by a socialist president and you fault the one trying to straighten it out. Fools never learn.
A country's most valuable natural resource is its People. Right wingers are contemptuous of the workers who make economic prosperity possible and rely on a top down economic approach that never works. Austerity budgets which increase unemployment only exacerbate such difficulties; a consumer based economy with strong social welfare protections is the only established w ...[text shortened]... capitalist economy can work.
Foreign bailouts for failed policies are a waste of time and money.
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@Mott-The-Hoople saidYep, they are mad that their side made a mess of yet another country and that the US is trying to help dig them out of the hole they created.
Let’s see, a right leaning president is haveing to clean up the mess left by a socialist president and you fault the one trying to straighten it out. Fools never learn.
Yet they cry and demand the US give overseas aid everywhere.
Makes no sense.
@mchill saidDon't forget Trump is in LOVE with Kim Jong Un.......
America First?
It looks like "Trump first" to me. Using another petty dictator to further his own agenda is how they operate. Trump will find a way to profit off of this, no matter how many people he has to exploit.
P.S. Congrats of getting over 2100!
@Rajk999 saidSo if the budget is balanced why does he need the money from the USA?
You are a leftwing socialist progress-hating nutcase. Here is the truth about what is going on in Argentina and people are calling it an economic miracle.
**********************************
Milei’s Economic Miracle: How Argentina Slashed Inflation to 1.5%
Argentina’s economist-turned-president has defied the odds (and the experts’ opinions) to set a “society sick with s ...[text shortened]... ic%20Miracle&text=Milei's%20first%20step%20was%20balancing,for%20a%20historic%20economic%20recovery.
@Ponderable saidBecause of the damage done from the socialist govt.
So if the budget is balanced why does he need the money from the USA?