Shock presidential lead by populist economist in Argentina

Watch out Davos!!! :laughing: :laughing: :laughing: :laughing: :clown_face: :clown_face: :clown_face: :clown_face: :clown_face: :clown_face: :clown_face: :clown_face: :clown_face:

Concerned Citizen on X: “:rotating_light::earth_americas::argentina: Milei on WEF Davos Trip Wow - Argentinian President Javier drops truth bomb en-route to The WEF 2024 Davos Summit. “Plant ideas of Freedom in a 2030 Socialist Agenda” It’s worse than Socialism - their goal is Western Marxist Communism spliced with Fascism. https://t.co/0Fr2fn2Rn1” / X (twitter.com)

He is flying on a cheap ticket, good message
Argentine President Picks Lufthansa Economy On The Boeing 747-8 For Trip To Davos (msn.com)

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I finally watched the whole speech. Pretty good. Wish I could speak Spanish to understand the undertones. I suppose it goes without saying he won’t be invited back.

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Australia has no visa reciprocity with any country. All non citizens need a visa to enter Australia.

I may criticize Canuckistan a lot :clown_face: :cowboy_hat_face:, but Milei earned respect in my eyes during that WEF speech, for using the term “hockey stick” graph!! Great speech.

Special address by Javier Milei, President of Argentina | Davos 2024 | World Economic Forum (youtube.com)

https://www.ft.com/content/79b4e7e2-9b1a-4b1b-8ff6-efc6f1bd960c

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They don’t ‘used to do it’ they still do it and not with ‘some success’ but massive economic success.

In Taiwan the main fuel provider, water provider , electricity provider and also transport providers are all state run which keeps inflation low. Semi State banks buttress almost all development projects here.
Most of the current Taiwan labour insurance pension fund seem to be invested in Taiwan companies with the biggest holdings in TSMC (not sure if that’s because it grew so much or they keeping investing in it, it’s also quite risky for the pension fund of course ).

Also Taiwan and Japan didn’t have just ‘some success’ they are huge outliers economically worldwide being small nation states with few natural resources except the people but having massive economies and having broken through the middle income gap. Most countries never break the middle income gap. Look at China, look at South America and and most countries worldwide.
Where they have failed is stuff like carbon emissions and the environment.

The key is having the right kind of setup for the right culture, obviously it doesn’t seem to work with the culture that is prevalent in Argentina along with the fact that Argentina may be a classic example of the resource curse in operation.

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You think Taiwan’s water and utilities policy are successes?

That underlies my point. At its creation, the government owned 49% of TSMC. That figure is down to 6%. As the economy matured, the government does less and less.

I agree with the first part of your sentence. In a country where you have to pay bribes for everything, you probably don’t want the government to subsidize anybody they don’t have to, because the money will most likely just go to his cronies and run inefficiently.

In Indonesia, at least the kickbacks go to entrepreneurs who drive the economy.

As far as the resource curse goes, what Argentine resource are you talking about? You might have conflated Venezuela (oil).

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They still invest in it and also many other Taiwan companies. Too much actually.

Well it’s an absolutely massive country it can obviously produce a lot of food and for sure has mineral resources.

That’s … interesting. The IMF aren’t exactly renowned for helping revolutionary governments make positive changes. I wonder what they’ve got up their sleeves? I bet it isn’t anything nice.

I guess it could also be that Milei is on board with the globalist agenda and is playing the long game himself.

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Libertarianism and globalism go hand-in-hand. Free trade is a central tenet of free markets.

Well, they used to be. So many words have been redefined these days it’s hard to know which end is up anymore. I’m using the word ‘globalist’ here in it’s modern sense, i.e., something akin to the global communist society envisioned by Marx, not a system of free trade between equals on the basis of mutual benefit.

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:100: Fen. I knew there was something off about that guy.

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I honestly don’t know what to make of him. I’m just sitting here with the popcorn to see what happens. And I can’t get past the fact that he looks like Gary Glitter.

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Argentina was already one of their top debtors before Milei took power and was already going to get money before he won the election. At some point the IMF is probably thinking anything is better than the mess Argentina has gotten themselves into. And positive pats can’t hurt as it does impact how the market reacts.

Im not going to pretend to be an expert on the economy of Argentina. I have some educational background in economics but mainly finance but those are intertwined so I’m economically literate. I’m mostly watching with interest as it’s really going to be important to see what a libertarian can do just as we’ve seen what communism does. What does libertarianism look like in the real world. We know what communism looks like by now.

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Argentina is also a warning for other countries. You have Trudeau and his ilk for 60 years, it will leave a Banana state that needs radical transformation.

Milei gets kudos for even trying.

Imagine that!