Record optimism among Argentine CEOs for 2025: Over 90% expect economic growth

[LongIslander]

I would ignore the press on this issue. Whatever power the IMF thought they had, there is a new sheriff in town and the independence they've enjoyed for decades is likely coming to an end. Milei was a VIP guest at Trump's inauguration, he is viewed as the hero who broke the socialist's stronghold on South America. Trump will do what's best for America, but Argentina will enjoy "very favored nation" status as long as Milei continues to play his cards right.

You have to remember most people don't know anything at all about Argentina other than it always has financial problems. It is so far and isolated that almost no one knows anything about it except the steaks and wine are good and they always have economic problems.

Before you never would have anyone that could probably even name the President of Argentina. But this time since my friends know I come down I am surprised that they know Milei.I think Craig is right this time is different.

Milei is retaining his popularity because he told the truth. He didn't sugar coat the pain reform would cause. A year later, they are seeing the results. As long as the economy continues to recover, they will stick with him. If it doesn't, he'll be a one hit wonder.

Yes he told the truth but it seems like now the caste doesn't let him tell the truth. I noticed a few weeks ago he warned that the peso was getting too strong and it seems like everyone shut him up because I never heard anything else.

Let's see what Argentina gets out of this friendship with Trump. At the least a new deal with the IMF which I can't figure out if it is good or bad yet.

 

[daveholman]

Granted I'm an old guy who follows politics, but I think you underestimate how much North Americans and Europeans know about Argentina. Through the 1970's and 80's for a lot of stuff Argentinos probably want to just forget, the country was in the news a lot.
And as a long time Libertarian, I can tell you my friends and I have followed Javier Milei's rise to power very closely.

 

[earlyretirement]

Granted I'm an old guy who follows politics, but I think you underestimate how much North Americans and Europeans know about Argentina. Through the 1970's and 80's for a lot of stuff Argentinos probably want to just forget, the country was in the news a lot.
And as a long time Libertarian, I can tell you my friends and I have followed Javier Milei's rise to power very closely.

I'm not sure how much the typical American knows about Argentina. Some may know all the ups and downs but I would say the majority don't know anything about Argentina. I only started paying attention to President Milei towards the beginning of 2023 but I could see that he would probably win. I could sense the hopelessness and desperation by many people. I was so confident that he would win and that real estate had bottomed out that I started buying up real estate again in July 2023 and started up doing business again in Argentina.

He isn't perfect and doesn't always make all the right decisions but he comes across to me as a straight shooter. He has a really tough job and it will take time. Unwinding 100 years worth of corruption and ass backwards laws and regulations will take time to sort out. He himself said this is probably a 15 year project.

I have said it myself, that I don't expect complete systemic change in Argentina in my lifetime. When I say systemic change I mean totally functional banking system, floating exchange rate with no intervention for many years in a row, functional judicial system, reasonable labor and employment laws, restructured tax system, getting almost all of the people working in black under the people legal.

I believe President Milei is the start of all of this but I don't expect to see this in my lifetime but I hope my kids who are Argentine citizens get to see it in their lifetime.

 

[daveholman]

I agree with your first point, not sure about the second. Getting close to Trump in his first term was like Icarus and the sun. Survivor rate was awfully low.

OTOH, who is the Secretary of State today? Trump really doesn't take things personally. He is entirely transactional. If you're in his way, he'll bulldoze you. But if he decides later you can help him, he'll forget it ever happened.

 

[Betsy Ross]

OTOH, who is the Secretary of State today? Trump really doesn't take things personally. He is entirely transactional. If you're in his way, he'll bulldoze you. But if he decides later you can help him, he'll forget it ever happened.

Agree. I think one thing that Trump and Milei have in common is people think they are crazy/stupid and that is not true of either. Both are very intelligent men. Trump seems to be following through on his promises that he made during the campaign. It will be an interesting next 4 years in both Argentina and the USA.