President Milei is unlike any other leader the people of Argentina previously voted into power throughout its history. He proudly exudes a libertarian state of mind and the determination to abolish recurring political turmoil and socialist policies that devastated his country for more than a century. Argentina is currently the third-largest economy in Latin America and was on the brink of collapse when Milei was elected in Nov. 2023. He campaigned on a promise to implement “drastic changes,” eradicate the “tragic reality” of widespread poverty, halt the destruction of the peso currency that lost 90% of its value since 2019, eliminate a $41 billion debt to the International Monetary Fund (IMF), eliminate the bloated and woke government ministries, and end a hyperinflation spiral that registered the highest inflation rate in today’s world.

 

“Inflation Rate in Argentina increased to 254.20% in January 2024 from 211.40% in December of 2023. Inflation in Argentina averaged 189.87% from 1944 until 2024, reaching an all-time high of 20,262.80% in March of 1990 and a record low of -7% deflation in February of 1954.” – Trading Economics

Milei Demonstrates Cutting Government Bureaus – Red43, Aug. 2023

 

Here is an excerpt from Part 1 of this series published (Twitter thread) on Nov. 22, 2023:

“Javier Milei self-identifies as a ‘anarcho-capitalist’ (AnCap) with a social-conservative libertarian streak and was elected President of Argentina on Sunday. The collective West’s woke legacy media narrative portrays him as an ultra-right, Trump-like, Nazi fascist whose emergent political party equates to a MAGA mob (Make Argentina Great Again) that ousted a socialist government in a landslide runoff election victory. His ideological revolution managed to secure 56% of the vote after 99% of ballots were counted.” – TraderStef

His ultimate goals are to rebuild Argentina’s former strength as an economic powerhouse and return to the respected geopolitical status that socialism has squandered since 1904. When a Wall Street Journal editor asked him about the alternative if his strategy and methods in the “chainsaw plan” failed to accomplish what he promised, Milei responded that there’s “no plan B” capable of achieving what must be done.

Exclusive: Milei Says There’s ‘No Plan B’ for Economy – WSJ, Jan 28

 

Aside from a streak of notable domestic accomplishments since taking office on Dec. 10, highlights of Milei’s presidential journey include a speech at the World Economic Forum (WEF) in Davos where he verbally demolished socialism in front of its membership of elite, transhumanism-loving socialists. Another was his first in-person meet and greet with former president Trump at the U.S. CPAC convention last month. He also addressed (video) CPAC’s captive audience with a brief lesson on economics and how socialism decimated Argentina with big government, wasteful spending, corruption, and dehumanizing the population.

‘Into the belly of the beast’: Javier Milei pulls a ‘Ricky Gervais’ at World Economic Forum – Sky News Australia, Jan. 18, 2024

 

Milei Hugs Trump on First Meet at CPAC – Javier Milei, Feb. 24

 

 

One of Milei’s first decrees as president was to devalue the peso and slash government spending to treat fiscal “addiction.” The currency was weakened by over 50% to 800 per U.S. dollar, energy subsidies were slashed, and tenders in the pipeline for public works projects were canceled. His new economy minister, Luis Caputo, described the first wave of reforms as shock therapy to “avoid catastrophe and get the economy back on track” and explained that it’s painful in the near-term but required to successfully fight uncontrolled inflation.

Javier Milei’s First Day in Office – Reduce the Size of Government… “Milei campaigned on implementing a ‘chainsaw plan’ that would swiftly cut useless bureaus that drain government resources with no or minimal benefit to the public. Milei stuck to his campaign promises and slashed the number of federal agencies from 18 to 9… The ministries that remain include Interior, Foreign Relations, Defense, Economy, Justice, Security, Health, and the recently created Ministry of Human Capital, which consolidates several previous ministries. Mileni cut agencies such as the Ministry of Women Genders and Diversity, which he believed existed as leftist pet projects… The International Monetary Fund (IMF) and some private creditors expect a large payment by the end of January to the tune of $4 billion. ‘There is no money,’ the new president said before Congress. ‘The outgoing government has left us on track towards hyperinflation,’ Milei said. ‘We are going to do everything we can to avoid such a catastrophe.’ – Armstrong Economics, Dec. 13

Milei’s next steps were laying off 5,000 state employees that were hired before he took office, formally declining to join the BRICS alliance, and unveiling more than 300 measures that deregulate the economy. Among them are the elimination of laws regulating rent, regulations that prevent the privatization of business, modernizing labor laws to encourage the process of “creating real jobs,” and other actions affecting tourism, satellite Internet service, wind production, foreign trade, and pharmaceuticals. On Dec. 29, Milei’s deregulation czar said Argentina’s reforms were not even halfway done. In the first week of 2024, single-day voting for elections, handmade ballot boxes, paper ballots, and photo ID requirements were implemented.

A headline that shocked the apparatchiks and woke cult in mid-February was that Argentina accomplished its first monthly budget surplus in 12 years. In other words, Milei managed to balance the budget of a bankrupt country 9.5 weeks after taking office.

“January was the first full month in office for Milei, a far-right libertarian who took office in December, and it ended with a positive balance for public-sector finances of US$589 million ($800 million) at the official exchange rate, the government said late on Feb 16. The figure includes payment of interest on the public debt… Milei has been negotiating with the International Monetary Fund over its $44 billion loan and has vowed to achieve balance in public finances in 2024. ‘The zero deficit is not negotiable,’ Economy Minister Luis Caputo said on Feb 16.” – The Straits Times

In a reality check for Argentina’s state-run news media outlet Telam, which served as a propaganda mouthpiece for previous administrations, it shut down operations this week after Milei indicated funding would be cut. Workers and opposing politicians are protesting that the closure of Telam is an attack on the press. Telam was established in 1945, and it employed 800 people. Whether the news agency will be permanently closed is unclear.

Despite displeasure expressed by workers and politicos in Argentina who relied on government jobs and free stuff, U.S. Treasury Secretary Janet Yellen met with Luis Caputo last week and welcomed the difficult steps that Argentina was taking to restore fiscal sustainability. Yellen is the latest U.S. official to commend Milei and Caputo for their leadership on the economic front and avoiding a catastrophe.

The ball is rolling in a positive direction on several political fronts, including the U.S. where Super Tuesday primary voters launched a clean sweep in the conservative direction and war dog Nikki Haley finally ended her presidential campaign. Unfortunately, legacy media outlets such as MSNBC remain in the Gestapo camp and have censored Trump’s victory speech by claiming it was “irresponsible” to broadcast. I kid you not. The world is still a mess, so stay frosty.

 

Inside Argentina’s New Government, with Minister of Security Patricia Bullrich – American Thought Leaders (TEASER), Mar. 4

 

Plan Your Trade, Trade Your Plan

TraderStef on Twitter, Gettr / Website: TraderStef.com