Caputo and Milei have already wasted $3 billion manipulating the peso

[Larry]

Caputo and Milei are crooks. Milei is doing everything he said he was against during his campaign. Imagine wasting $3 billion dollars trying to manipulate the peso!

Caputo ya gastó casi US$ 3.000 millones para frenar el dólar en torno $1.200

Por una ventanilla el BCRA compra dólares pero por la otra vende parte de esos billetes en la brecha

eleconomista.com.ar

 

[import export]

Caputo and Milei are crooks. Milei is doing everything he said he was against during his campaign. Imagine wasting $3 billion dollars trying to manipulate the peso!

Caputo ya gastó casi US$ 3.000 millones para frenar el dólar en torno $1.200

Por una ventanilla el BCRA compra dólares pero por la otra vende parte de esos billetes en la brecha

eleconomista.com.ar

The IMF isn't going to want them to continue on with this intervention. I don't care what Caputo says publicly, there is no way they want to see Argentina blowing the billions on this.

Milei has strayed far from some of his stated goals. He is really powerless in this. Some friends in Argentina tell me his economic prowess is greatly overstated.

 

[Avocado]

I do not believe that Milei will actually finish his term in office. Every day things get worse and more expensive.

 

[VINO]

Caputo and Milei are crooks. Milei is doing everything he said he was against during his campaign. Imagine wasting $3 billion dollars trying to manipulate the peso!

Caputo ya gastó casi US$ 3.000 millones para frenar el dólar en torno $1.200

Por una ventanilla el BCRA compra dólares pero por la otra vende parte de esos billetes en la brecha

eleconomista.com.ar

I don't know anything about the financial markets at all but you don't have to be a guru to know that they are making the peso too strong. I can't imagine this will turn out well. I thought Milei was against things like this. The more he is in office the more I don't think he is really running the show.

 

[Uncle Wong]

I do not believe that Milei will actually finish his term in office. Every day things get worse and more expensive.

How is Milei's approval ratings? They look like they are going down. I can't imagine Argentina doing well if the USA goes into recession Argentina will plunge too. All Trumps talks about tariffs are plunging the stock market. My 401k the past few weeks is ugly. I also picked a bad time to go into crypto. I bought a little bit of Bitcoin a few months ago and turned out to be terrible timing. Down 25% in a few months. I have a feeling if the US is really in a recession everything is going to tank.

Just read this. I guess one thing Cristina was right about was that the IMF loan was a big mistake by Macri and couldn't be paid back.

Javier Milei deepens Argentina's IMF debt trap with ‘emergency’ loan - Geopolitical Economy Report

Argentina's US-backed libertarian President Javier Milei takes emergency loan from IMF, deepening odious debt trap that caused high inflation

geopoliticaleconomy.com

I wonder in a few years if Milei will be a hero or laughed at. That Libra thing was the start of some local friends saying he is a fool and doesn't know what he is doing. Even during the campaign they were making fun of him for talking to his dead dogs. Now I read some of these articles and see him with these ridiculous costumes and it all does seem a little ridiculous.

 

[earlyretirement]

How is Milei's approval ratings? They look like they are going down. I can't imagine Argentina doing well if the USA goes into recession Argentina will plunge too. All Trumps talks about tariffs are plunging the stock market. My 401k the past few weeks is ugly. I also picked a bad time to go into crypto. I bought a little bit of Bitcoin a few months ago and turned out to be terrible timing. Down 25% in a few months. I have a feeling if the US is really in a recession everything is going to tank.

Just read this. I guess one thing Cristina was right about was that the IMF loan was a big mistake by Macri and couldn't be paid back.

Javier Milei deepens Argentina's IMF debt trap with ‘emergency’ loan - Geopolitical Economy Report

Argentina's US-backed libertarian President Javier Milei takes emergency loan from IMF, deepening odious debt trap that caused high inflation

geopoliticaleconomy.com

I wonder in a few years if Milei will be a hero or laughed at. That Libra thing was the start of some local friends saying he is a fool and doesn't know what he is doing. Even during the campaign they were making fun of him for talking to his dead dogs. Now I read some of these articles and see him with these ridiculous costumes and it all does seem a little ridiculous.

View attachment 8864

Milei's latest approval ratings are holding up fairly strong. The latest poll from Atlas Intel from 2 days ago was 47% approval and 48% disapproval. They have been around 50% and been steady. Half the country hates him and half love him. It's been remarkable all things considered with severe austerity measures in place.

Obviously the wealthier Argentines prefer him vs. the poor. His approval ratings amongst the wealthy were as high as 59% but I know many that are wondering if there is enough of a plan in place. The Libra fiasco has a lot of people questioning how wise he really is.

He has always been a bit of a wierdo and it's true it almost takes someone crazy to shake up the status quo. He has made headway with many of his policies. His fiscal balance stance was greatly needed in Argentina and his pro-market and pro-investment policies are sound. He has made plenty of mistakes along the way too. I mentioned during his campaign he was dead wrong on China and fortunately he reversed course but hopefully his bromance with Trump doesn't cause him to do anything stupid on China as Argentina needs China.

The government's #1 goal was to get inflation down. However, they are manipulating the peso in order to do that so many believe there will be an eventual devaluation and a new crises will come. By a lot of metrics, Argentina has become expensive in dollars. If you look at things like the Big Mac Index you can see the peso indeed is overvalued. By that metric the most overvalued in the world behind the Swiss franc.

Some of the optimists see the peso appreciation as a sign of success but many others warn it's all smoke and mirrors and artificial caused by bicycle financing and the carry trade. The carry trade causes people to convert USD to pesos and take advantage of 19% annual returns. No one knows how things will turn out.

This is a great piece on both arguments on both sides. The optimists and the skeptics.

The Milei Plan: Collision Course Or On To The Promised Land? – Analysis

This paper [1],[2] explores whether Argentina’s stabilisation plan is the prelude to an economic take-off, or a mirage destined to fail like previous stabilisation plans. It further highlights the crucial role of an agreement with the IMF, key to transforming the current scheme into an orderly...

www.eurasiareview.com

 

[Avocado]

How is Milei's approval ratings? They look like they are going down. I can't imagine Argentina doing well if the USA goes into recession Argentina will plunge too. All Trumps talks about tariffs are plunging the stock market. My 401k the past few weeks is ugly. I also picked a bad time to go into crypto. I bought a little bit of Bitcoin a few months ago and turned out to be terrible timing. Down 25% in a few months. I have a feeling if the US is really in a recession everything is going to tank.

Just read this. I guess one thing Cristina was right about was that the IMF loan was a big mistake by Macri and couldn't be paid back.

Javier Milei deepens Argentina's IMF debt trap with ‘emergency’ loan - Geopolitical Economy Report

Argentina's US-backed libertarian President Javier Milei takes emergency loan from IMF, deepening odious debt trap that caused high inflation

geopoliticaleconomy.com

I wonder in a few years if Milei will be a hero or laughed at. That Libra thing was the start of some local friends saying he is a fool and doesn't know what he is doing. Even during the campaign they were making fun of him for talking to his dead dogs. Now I read some of these articles and see him with these ridiculous costumes and it all does seem a little ridiculous.

View attachment 8864

Milei besides cutting spending now what? A chainsaw without a real growth plan is useless. Do you think people will wait forever for this to turn around? People are already tired. Not just poor but even people with money are getting sick of no plan. House of cards is now falling. By the time October comes I think Milei and his party are done.

He spends too much time in USA and now Israel and not paying attention to economy. No plan = failure.