Politics Thread: President Javier Milei - Decree of Necessity and Urgency (DNU) in real-time

[Flamingo]

Before many of you were always harping about inflation in Argentina under Peronists. Inflation, inflation, inflation. @Larry is right that it is worse than ever. Why do none of you harp about it under Milei when he is responsible for the highest inflation. He causes it to spike then says it is slowing down. It is slowing down? Yes to only go back to what it was along with sky high prices that will never go back. How is that slowing inflation down?

Milei is forcing people to spend all of their USD savings from their homes and safes and they are buying pesos to survive. I say things are worse. Much worse. We still have inflation and dollar inflation has skyrocketed also.

 

[GlasgowJohn]

But the inflatio

Milei is doing terrible! I don't know how anyone can argue anything else. All of you were complaining about inflation under CFK and it was nothing like this. The inflation of the past quarter is the worst inflation Argentina has experienced. Even inflation in dollars is high. Everything is more expensive. I have been saying for months and months things were going to get expensive and get as much as States or Europe and that is happening. Many things are 2X or some 3X what they were a few months ago.

Inflation in USD has been painful for expats and previously there was peso inflation but not like this in USD. Those that supported Milei say things are getting better. Those that voted against him say they are getting worse. Who is right?

Inflation in the first quarter of 2024 was not caused by Milei.

It was due to Sergio Massa and Alberto Fernandez overspending and giving money away to try and win last year's election. As they had no money they just printed more , a sure recipe for Hyperinflation.

Monthly inflation is coming down - It was 30% in December and last month was 11%

 

[GlasgowJohn]

Before many of you were always harping about inflation in Argentina under Peronists. Inflation, inflation, inflation. @Larry is right that it is worse than ever. Why do none of you harp about it under Milei when he is responsible for the highest inflation. He causes it to spike then says it is slowing down. It is slowing down? Yes to only go back to what it was along with sky high prices that will never go back. How is that slowing inflation down?

Milei is forcing people to spend all of their USD savings from their homes and safes and they are buying pesos to survive. I say things are worse. Much worse. We still have inflation and dollar inflation has skyrocketed also.

Do you ever wonder what would have happened if Massa had won?

 

[Flamingo]

Do you ever wonder what would have happened if Massa had won?

I often wonder that and honestly I don't know if it would be worse or not. I seriously doubt they would have allowed prepagos to raise rates 200% in a short amount of time.

 

[GlasgowJohn]

I often wonder that and honestly I don't know if it would be worse or not. I seriously doubt they would have allowed prepagos to raise rates 200% in a short amount of time.

Yesterday, Milei announced that they are taking action against the pre-pagas. It seems they have been acting as a cartel and agreeing prices and price increases.

 

[Larry]

But the inflatio

Inflation in the first quarter of 2024 was not caused by Milei.

It was due to Sergio Massa and Alberto Fernandez overspending and giving money away to try and win last year's election. As they had no money they just printed more , a sure recipe for Hyperinflation.

Monthly inflation is coming down - It was 30% in December and last month was 11%

I don't dispute that Milei is not to be blamed for all of the inflation but you have to admit that it was not as high before. Massa had his faults but they protected the lower and middle class more. I don't disagree that healthcare costs should come up gradually but to go up 200% in a few months was not the solution. Same with all the other drastic increases. You aren't going to solve Argentina's issues by killing the poor and middle classes.

Do you ever wonder what would have happened if Massa had won?

I wonder all the time. I have no doubt that life would be better for the masses.

I often wonder that and honestly I don't know if it would be worse or not. I seriously doubt they would have allowed prepagos to raise rates 200% in a short amount of time.

Exactly!

Yesterday, Milei announced that they are taking action against the pre-pagas. It seems they have been acting as a cartel and agreeing prices and price increases.

It is about time. They are acting like a cartel because Milei invited them to act like a cartel and do whatever they wanted. He is to blame for that.

 

[GlasgowJohn]

I don't dispute that Milei is not to be blamed for all of the inflation but you have to admit that it was not as high before. Massa had his faults but they protected the lower and middle class more. I don't disagree that healthcare costs should come up gradually but to go up 200% in a few months was not the solution. Same with all the other drastic increases. You aren't going to solve Argentina's issues by killing the poor and middle classes.

I wonder all the time. I have no doubt that life would be better for the masses.


Exactly!


It is about time. They are acting like a cartel because Milei invited them to act like a cartel and do whatever they wanted. He is to blame for that.

We should maybe remember that Claudio Belocopitt , the boss of Swiss Medical is an intimate friend of Sergio Massa. Swiss medical received millions from the last government and no one is really sure what he did with the cash.

Is it just a coincidence that he resigned as the president of the Argentine Health union yesterday.

There is no need to answer the last question.

 

[Spend Thrift]

We should maybe remember that Claudio Belocopitt , the boss of Swiss Medical is an intimate friend of Sergio Massa. Swiss medical received millions from the last government and no one is really sure what he did with the cash.

Is it just a coincidence that he resigned as the president of the Argentine Health union yesterday.

There is no need to answer the last question.

No coincidence. Milei and his team are cleaning house!

 

[Betsy Ross]

Like Milei or hate him, he is getting the job done. He got a financial surplus of 0.2% of GDP in the first quarter.

Javier Milei anunció un superávit financiero: "El milagro económico responde a la motosierra"

El Presidente subrayó que se logró "un superávit financiero del 0,2% del PBI en el primer trimestre año" y aseguró que esto representa "una hazaña mundial". El mensaje grabado apuntó contra el periodismo y "el establishment económico y político argentino".

www-perfil-com.translate.goog

 

[Vince]

Like Milei or hate him, he is getting the job done. He got a financial surplus of 0.2% of GDP in the first quarter.

Javier Milei anunció un superávit financiero: "El milagro económico responde a la motosierra"

El Presidente subrayó que se logró "un superávit financiero del 0,2% del PBI en el primer trimestre año" y aseguró que esto representa "una hazaña mundial". El mensaje grabado apuntó contra el periodismo y "el establishment económico y político argentino".

www-perfil-com.translate.goog

It is tough for Argentines but a necessity to fix all of the ails of Argentina.

'The last stretch': Milei praises 'heroic' effort in prime-time address

President uses prime-time brodcast to highlight first quarterly fiscal surplus since 2008. "This is the last stretch of a heroic effort," Milei tells nationwide.

www.batimes.com.ar

 

[Avocado]

He is NOT getting job done. Even his own former advisor say he is horrible. Look what he say about Milei and what he is doing to Argentina. He say Milei will put Argentina into depression!

Carlos Rodríguez has not spoken with Javier Milei for a long time. Throughout the campaign, the President had presented him as the future head of his Council of Advisors, which would also include Roque Fernández , another former Menem official. However, the leader of the Center for Macroeconomic Studies of Argentina ( CEMA ), where he serves as professor emeritus, left La Libertad Avanza when Milei appointed Luis Caputo as Minister of Finance without consulting him.“I never advised him. He used my name, nothing more. And I fell like a plover,"Rodríguez, a disciple of Milton Friedman at the University of Chicago, rants..

Disenchanted with Milei's preaching and management, the economist criticizes the Government's management without a filter. He warns about the deficiencies of the adjustment program and the absence of an income plan. And, above all, he warns about the effects of the recession. “We are going into an economic depression and I don't see how the fall in investment is going to be recovered ,” he reflects in an interview with LA NACION .

Carlos Rodríguez: “Estamos yendo a una depresión económica y no veo cómo se va a recuperar la caída de la inversión”

Distanciado de Milei, el economista cree que el ajuste “no es sostenible” y alerta sobre la falta de un plan de ingresos; “El Estado no es el demonio”, dice

www-lanacion-com-ar.translate.goog

 

[Vince]

He is NOT getting job done. Even his own former advisor say he is horrible. Look what he say about Milei and what he is doing to Argentina. He say Milei will put Argentina into depression!

Carlos Rodríguez has not spoken with Javier Milei for a long time. Throughout the campaign, the President had presented him as the future head of his Council of Advisors, which would also include Roque Fernández , another former Menem official. However, the leader of the Center for Macroeconomic Studies of Argentina ( CEMA ), where he serves as professor emeritus, left La Libertad Avanza when Milei appointed Luis Caputo as Minister of Finance without consulting him.“I never advised him. He used my name, nothing more. And I fell like a plover,"Rodríguez, a disciple of Milton Friedman at the University of Chicago, rants..

Disenchanted with Milei's preaching and management, the economist criticizes the Government's management without a filter. He warns about the deficiencies of the adjustment program and the absence of an income plan. And, above all, he warns about the effects of the recession. “We are going into an economic depression and I don't see how the fall in investment is going to be recovered ,” he reflects in an interview with LA NACION .

Carlos Rodríguez: “Estamos yendo a una depresión económica y no veo cómo se va a recuperar la caída de la inversión”

Distanciado de Milei, el economista cree que el ajuste “no es sostenible” y alerta sobre la falta de un plan de ingresos; “El Estado no es el demonio”, dice

www-lanacion-com-ar.translate.goog

Sour grapes! Rodriguez is just angry that Milei didn't select him and appointed Luis Caputo instead. The country has been in decline for a long time. Milei said it would be painful and foreshadowed how difficult and painful this will be. You can't fix 100 years of corruption in only a few months. It will be a slow steady process. Fortunately people are still patient.

 

[Wally]

Sour grapes! Rodriguez is just angry that Milei didn't select him and appointed Luis Caputo instead. The country has been in decline for a long time. Milei said it would be painful and foreshadowed how difficult and painful this will be. You can't fix 100 years of corruption in only a few months. It will be a slow steady process. Fortunately people are still patient.

I have to hand it to the guy. Another month of financial surplus.

Milei praises his own administration for its financial surplus

Argentine President Javier Milei Monday highlighted his administration's performance bringing about a financial surplus worth AR$ 276.638 billion (US$ 276.638 million), which constituted a “historical feat.” He also said this achievement of three consecutive surplus-yielding months -something...

en.mercopress.com

 

[Finance Prof]

He is NOT getting job done. Even his own former advisor say he is horrible. Look what he say about Milei and what he is doing to Argentina. He say Milei will put Argentina into depression!

Carlos Rodríguez has not spoken with Javier Milei for a long time. Throughout the campaign, the President had presented him as the future head of his Council of Advisors, which would also include Roque Fernández , another former Menem official. However, the leader of the Center for Macroeconomic Studies of Argentina ( CEMA ), where he serves as professor emeritus, left La Libertad Avanza when Milei appointed Luis Caputo as Minister of Finance without consulting him.“I never advised him. He used my name, nothing more. And I fell like a plover,"Rodríguez, a disciple of Milton Friedman at the University of Chicago, rants..

Disenchanted with Milei's preaching and management, the economist criticizes the Government's management without a filter. He warns about the deficiencies of the adjustment program and the absence of an income plan. And, above all, he warns about the effects of the recession. “We are going into an economic depression and I don't see how the fall in investment is going to be recovered ,” he reflects in an interview with LA NACION .

Carlos Rodríguez: “Estamos yendo a una depresión económica y no veo cómo se va a recuperar la caída de la inversión”

Distanciado de Milei, el economista cree que el ajuste “no es sostenible” y alerta sobre la falta de un plan de ingresos; “El Estado no es el demonio”, dice

www-lanacion-com-ar.translate.goog

I do not agree with most of your posts @Avocado but I do agree that people need to be aware of how bad things could get. I have been around for many economic cycles in Argentina but the first time I feel like things can go very wrong. This has nothing to do with who won the Presidency. I think either way things would have ended up very badly. We swapped out one set of problems for another. It is not easy to measure if Milei will be successful or not. His supporters say yes and others say no. Time will tell but I'm nervous as hell now. I can't lie.

 

[Larry]

Read this. The author does a great job describing real life struggles for Argentines.

Argentine households face financial crunch as markets cheer Javier Milei

Investors say president’s austerity measures are needed before economy turns the corner

www.ft.com

 

[Finance Prof]

All these students protesting could be the turning point against Milei. Middle class are getting absolutely killed. Students are now turning against him. If things don't turn around quickly the tide will turn against him.

The first ‘real world’ punch for Javier Milei

The government’s response to the march in defence of the public university system was similar to their usual approach, but the impact wasn’t the same – the social agenda appears to have finally sided against Milei on a major issue.

www.batimes.com.ar

 

[Avocado]

When do all of you Milei supporters admit that his experiment did not work? What will it take? How much pain does Argentina have to go through?

https://www.wsj.com/articles/javier-mileis-achilles-heel-economy-policy-dollarization-479fd74d?st=8stkei9kl7yx1ok&reflink=desktopwebshare_permalink

 

[Avocado]

“He is the weakest president in institutional terms that Argentina has ever seen,” said Ana Iparraguirre, partner at Washington-based political strategy firm GBAO.

This fiery economist became Argentina's president railing against politicians. Now he's wooing them

Argentina’s lower house has voted to approve a dramatically downsized version of President Javier Milei’s economic overhaul package, known as the omnibus bill.

apnews.com

 

[Wally]

Not bad Milei.

Argentina's Lower House okays extra powers to President Milei

Argentina's Lower House Tuesday agreed to grant President Milei on a temporary basis certain decision-making powers originally reserved by the Constitution to the Legislative Branch, it was reported in Buenos Aires. The neverending Parliamentary session also decided in favor of the partial and...

en.mercopress.com

 

[Flamingo]

Not bad Milei.

Argentina's Lower House okays extra powers to President Milei

Argentina's Lower House Tuesday agreed to grant President Milei on a temporary basis certain decision-making powers originally reserved by the Constitution to the Legislative Branch, it was reported in Buenos Aires. The neverending Parliamentary session also decided in favor of the partial and...

en.mercopress.com

I am impressed that he did so well with the Congress considering the tiny support Milei has. Still has to make it through the Senate but it is hard not to be impressed with progress in a short amount of time. Whether this translate to a better Argentina remains to be seen.