Argentina’s consumer price index rose 4.6% in June, slightly up from the rate of 4.2% in May, ending a five-month trend of cooling inflation that experts had attributed to a deepening recession brought about by Milei’s harsh austerity.
Most of us are used to hearing Argentina’s inflation running up 50%; Milei, within ONE YEAR, got inflation down to 4.8%, and terrified western socialists, fearful that SMALL government ideas might spread, are trying to make it seem like shrinking inflation is a bad thing.
You have to remember that in Argentina, the problem with their economy was the BLOATED PUBLIC SECTOR. Austerity revolves around shrinking the Public sector; bloated public sectors cause inflation because most government-related jobs ARE NOT NECESSARY, and not only are a lot of government jobs not necessary, government people will pay themselves FIRST, and after paying themselves first, debase the currency, so that when the ordinary people get their money, it’s worth a lot less.
Now, because Argentina had embraced Peronism, which is eerily similar to NATIONAL and Democratic SOCIALISM for decades, the Argentine Peso had NO value in the foreign exchange markets, which fueled rampant inflation.
Domestic inflation is one thing, but if the foreign exchange markets hate your currency, that means your system of governance has a PROPERTY RIGHTS problem. Socialists who have little comprehension of property rights or a market economy have little comprehension of how important PROPERTY RIGHTS are to a national currency.
Now, the mere fact that Javier Milei was able to get inflation down to 4% in Argentina within ONE year is mind boggling, because I personally thought it would take at least 2 years, for the foreign exchange markets to take Argentina seriously.
Latin America has a storied history of rejecting capitalism, with the exception of Chile, Panama, and Uruguay. Latin America is ripe with SOCIALIST idealists who, in practice, are ANTI-PROPERTY rights for the common man and woman in Latin America.
Anarcho-capitalists, which I am, believe in property rights for the common man and women and limit the power of the Federal government to STEAL or redefine your God-given right as a human being to own PROPERTY. I shouldn’t work today and have my wages stolen from me because an inefficient government is spending my money before I can get it.
Socialists want perpetual misery until the flawed socialist idea is perfected. That’s a miserable economic system, and Argentina’s finally rejected, but misery loves company, and democratic socialists have been on the attack, trying to bring Argentina back into the era of misery, in which their hard work gets squandered by a bloated government., leading to perpetual protests that lead to NOWWHERE.
I’m very impressed with what Javier Milei has been able to accomplish in such a short amount of time. You have to also remember he’s facing backlash, a lot of the Argentine socialists have nothing to offer society except for misery and protests, that’s how a lot of the socialists in Argentina, make their living, and there’s a lot of them, because Peronism is over 100 years old.
So when I was looking at things from a realistic perspective, I thought it would take MINIMUM 2 years for Javier Milei to get things under control. Javier Milei is not dictator, he still has to go through the legal channels to pursue his agenda, and he’s still faces fierce opposition, finding fault in EVERYTHING that he does.
So in my opinion, he is one of the most impressive leaders in the world right now, and obviously he’s the most feared, because if what Javier Milei does is successful it will influence neighboring regions including Brazil, possibly Colombia or Bolivia etc.