Politics President Javier Milei first speech as President of Argentina

[Canada Goose]

https://www.batimes.com.ar/news/argentina/there-is-no-alternative-to-austerity-declares-milei-after-swearing-in.phtml

‘There is no alternative to austerity,’ declares Milei after swearing-in​

New President Javier Milei vows "new era" for Argentina despite inheriting "worst" economic inheritance ever received by government; Libertarian warns austerity and immediate shock reforms on way, declaring "there is no money."



Javier Milei was officially sworn in as Argentina's president on Sunday with a vow to deliver harsh spending cuts and sweeping economic reforms.

In a dramatic address from the steps of Congress, Milei said that a "new era" had begun in Argentina that would "bring an end to a long history of decadence and decline."

"The Argentines have overwhelmingly expressed a will for change that has no return. Today we are burying decades of failure and senseless disputes," he declared.

He made his remarks just minutes after being sworn-in as head of state during a session of the Legislative Assembly. Vice-President Cristina Fernández de Kirchner, in her role as head of the Senate, oversaw proceedings.

In a dramatic address from the steps of Congress, Milei said that a "new era" had begun in Argentina that would "bring an end to a long history of decadence and decline."

"The Argentines have overwhelmingly expressed a will for change that has no return. Today we are burying decades of failure and senseless disputes," he declared.

He made his remarks just minutes after being sworn-in as head of state during a session of the Legislative Assembly. Vice-President Cristina Fernández de Kirchner, in her role as head of the Senate, oversaw proceedings.

"Milei 2.0 will still face an uphill climb, but he appears to have adopted a more pragmatic agenda and sought the advice of more experienced political figures," said Gedan.

However, with Central Bank reserves in the red and no credit line Milei is facing "bare cupboards," added the analyst.

"His rescue strategy, including a rapid downsizing of the government, will be tough to swallow for a long-suffering population. Either way, the next few months will almost certainly see social and political turmoil."



'Stagflation'

Among the questions hanging over Argentines' heads in the coming days will be whether Milei will devaluate the strictly controlled peso and loosen the currency controls which have birthed a multitude of dollar exchanges.

Economist Victor Beker of the University of Belgrano said the first "litmus test" for Milei will be if he actually halts the money printing by the Central Bank that he has so derided, which funds much of the government's spending.

Milei has warned that it could take between 18 and 24 months to bring the country's inflation under control, warning of months of "stagflation" -- rising prices coupled with economic stagnation.

For 2023, the International Monetary Fund (IMF) has projected a contraction of 2.5 percent in Argentine GDP.

 

[Canada Goose]

I thought it was a fabulous speech! I am very impressed with him so far. All people's worst fears about him have proven to be unfounded. He has come to the center on the issues that people were the most afraid. That is the sign of a very strong and good leader when they admit they were wrong. I read a lot of @earlyretirement's Twitter posts where he disagreed from many months ago with Milei and I'm amazed that all the things he posted about that couldn't happen or that Milei needs to change were correct. He posted the most important thing was to surround himself with smart people that that seems like it is happening and he is getting solid advice and most importantly he is listening to them.

I am contemplated a move from Canada to Argentina so it makes me excited my timing couldn't be better!


Vamos carajo!

 

[Che Vos]

I thought it was a fabulous speech! I am very impressed with him so far. All people's worst fears about him have proven to be unfounded. He has come to the center on the issues that people were the most afraid. That is the sign of a very strong and good leader when they admit they were wrong. I read a lot of @earlyretirement's Twitter posts where he disagreed from many months ago with Milei and I'm amazed that all the things he posted about that couldn't happen or that Milei needs to change were correct. He posted the most important thing was to surround himself with smart people that that seems like it is happening and he is getting solid advice and most importantly he is listening to them.

I am contemplated a move from Canada to Argentina so it makes me excited my timing couldn't be better!


Vamos carajo!

I did not vote for Milei and I'm still not sure he is the right man for the job. But I will admit it was a very good speech. None of my family except 2 uncles voted for him. Mostly because they were scared of too much change. But they are happy so far with his more moderate stances. My father told me now he is cautiously optimistic.

 

[LongIslander]

I watched the speech with with my Argentine friend that helped translate it and it was quite remarkable. Milei knows the issues and problems with the unions that he will have and I thought he was smart with his messaging. The way he told them if they cause mass problems and block the streets and cause a social nightmare, he won't support them. That was smart and I hope it works. For too long all these picketers think they can cause whatever problems they want with no recourse. I once missed my flight at EZE airport as they blocked the roads for 4 hours. I hope those types of tactics and disruptions are solved.

 

[James Bond]

Javier Milei is a breath of fresh air. Argentina was so rotten at its core with corrupt politicians and he is the first one that truly cares about Argentina.

Look into the crowd at his followers, despite not appearing particularly affluent, are more informed and discerning than some might suggest. People supported him recognizing that improvements often require navigating through challenging times first. They appreciated the candor of the individual promising to initiate these changes.

Another positive indication of the current era is the way this group took responsibility for their environment, picking up their own trash and leaving the plaza clean. This stands in stark contrast to previous decades when crowds in the same plaza did not exhibit the same level of civic responsibility.

 

[David]

Living within your means and the austerity measures Milei is proposing is essential for reinstating the integrity of your economic system. However, it represents only one half of the solution. The complementary element involves expanding your means by generating an ample supply of goods and services, commonly referred to as wealth, to foster a prosperous lifestyle.

Milei's endeavors may falter if he concentrates solely on the restrictive aspect (the "stick") and neglects the incentivizing aspect (the "carrot"). It is imperative that he promptly underscores government policies that pave the way for an economic renaissance in Argentina. This entails creating an environment that welcomes entrepreneurs and facilitates the production of goods and services more efficiently than ever before.

 

[Bill]

Having resided in this country for an extended period, my optimism has waned.

The Kirchner's and their pals resemble more of a mafia than a political party, populated by individuals who exploit the vulnerable for their personal political gains.

Recalling the fervent cries of "Si Se Puede" and Macri's promise of assembling "the best economic team in 100 years," only to witness a significant failure, has left me skeptical.

Now, with Milei's "Viva La Libertad Carajo" in the spotlight, the outcome is likely to mirror past disappointments. "Viva La Libertad Carajo" surrounds itself with the same entrenched politicians, often referred to as "la casta," akin to Trump's attempt to drain the swamp. As wisely noted by Milei, expecting different results with the same individuals in charge is futile.

Anticipate a surge in prices, salaries struggling to keep pace, a disillusioned populace, and, come 2027, a potential vote for Axel Kicillof.

I may be wrong but what big multi-national corporations will really be willing to invest significant money into Argentina when you know that Axel is waiting in the wings and that guy is a thug of the biggest proportions. Look what he did with YPF - https://www.bowtiedmara.io/p/ypf-the-laundromat-of-the-century?utm_campaign=post&utm_medium=web)

It's one thing to buy an apartment or real estate as that will always be safe and now seems like a great time to buy with prices so depressed from falling the past 4 years. But I don't understand how oil companies or partners to mile lithium can be expected to trust the likes of Axel Kicillof and his mafia pals. Argentina desperately needs this large capital investments to grow and prosper.

 

[earlyretirement]

I thought this was an excellent speech! Brutal and to the point. He inherited a huge mess from the corrupt Peronistas.

It will be a long road ahead and won't be easy. For sure, it will take longer than his time in office. But he will help get the "train back on the tracks" -

 

[Uncle Wong]

I thought this was an excellent speech! Brutal and to the point. He inherited a huge mess from the corrupt Peronistas.

It will be a long road ahead and won't be easy. For sure, it will take longer than his time in office. But he will help get the "train back on the tracks" -

I loved how he was so brutally honest! My favorite part was when he said, "NO HAY PLATA!"

 

[Avocado]

I didn't vote for Milei and I'm still not convinced how things will turn out. But I am thankful that he has taken a more moderate stance. I have many friends that hate him and are complaining as if he hasn't changed his stance on things. I think it's still unknown how things will turn out. What I don't doubt his his passion and love to turn things around for Argentina.

But I believe it will get very ugly. But I admit that it would be with Massa too.

 

[Billy Goat]

I loved his speech. It was realistic. I love how Javier Milei always gives an economics lesson in his speeches and always reminds people how bad the Peronistas have left the country. Honestly all the Presidents have been bad including Macri. But it's an almost impossible situation there no matter who is President without taking these austerity measures. Someone has to right the ship and Milei is doing that.