One year of Milei's Argentina: Is 'shock therapy' working? • FRANCE 24 English

It's been just over a year since Argentina elected Javier Milei as president. The political outsider had brandished a chainsaw as a symbol of his plans to cut government spending. So is Milei's "shock therapy" working? FRANCE 24's Kate Moody speaks to Juan Ignacio Carranza of Aurora Macro Strategies in Buenos Aires.
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[@1life_Only]

A country can’t be run on public service. It needs to produce products and services needed by its own people and others outside the country.

[@nmeau]

@@1life_Only Spot on. And if you want to import stuff (cars, electronics, pharmaceuticals) then you have to export stuff as well. You can’t sustainably import actual stuff and just export your currency.

[@geoms6263]

The Road to Serfdom consists of working exponentially harder in order to earn a currency growing exponentially weaker.

[@dilant9181]

I don’t you understand, public services are needed to keep all classes making money. Imagine if New York City got rid of all public transportation, New York would burn in a second. Public services are needed. Not everyone can work in major sectors. That’s exactly why the low and middle class are struggling even harder in Argentina.

[@nmeau]

@@dilant9181 Essential public services yes - the rest should be closed

[@dilant9181]

@ what should be closed?

[@JPaz-cr8os]

Fire the person that picked the music for the intro immediately!

[@pedromcmamede6758]

😂😂😂😂 agreed!

[@pedrosolermartinez6273]

Hahahaha

[@goru426]

They fired him last year. Now AI is picking the music.

[@bjoardar]

@@goru426 Explains a lot.

[@pistolen87]

"Cool" electronic music from 2009.

[@santiplaying5825]

In other words, it is working but FRANCE 24 doesn't want to celebrate it, just to make it look bad. And it's only been one year, by the end of his term it would be undeniable that the policies work and his influence will spread across the word! ¡Que viva la libertad!

[@johnc3525]

Celebrate that people in poverty went from 40 to 50%? Even if it works, Argentina's situation was very peculiar. It would be dumb to spread his influence across different situations.

[@TheRishijoesanu]

Excatly.

[@santiplaying5825]

@@johnc3525 First of all, the numbers of poverty are starting to go down. Also, you have obviously never lived in a country with that type of inflation, everyone gets poorer and poorer until you become Venezuela. So, yes, Milei saved Argentina from hyperinflation and saved millions of people from real poverty. You are looking at the numbers after only one year. The trend is looking good in every single way. The way leftist media frames it is just negative because they do not want it to succeed, just as you probably do not want it to succeed. But it will, it will be a success story to be copied, and actually not new, it has been done in different countries.

[@santiplaying5825]

@@johnc3525 And just saying it would be dumb does not make it dumb. The prove is in the results. It has been done in different countries, now rich countries. So, the dumb part is not being aware of those countries and their history.

[@johnc3525]

@@santiplaying5825 Which countries?

[@VincentConti-m5j]

This is the perfect time to visit Argentina. Trust me. They will love you😊

[@junior091083]

Why?

[@brunoqueiroz2759]

i did, i love buenos aires. i neve saw that much poverty in argentina before, i honestly tought that by just staying in buenos aires i would not notice the recession but its impossible to not realize the country is in crisis. but the city was still beautiful its a great tourist destination regardless. but it will not be like santiago.

[@ciobalina7445]

​​@@brunoqueiroz2759Yeah, it was to be expected. I'm not sure they can get out of that poverty though. It is a very tough spot to be in as a country because a certain sector of your population may never recover after this. But Milei is direct. I get it, there is no more money and nobody will lend them intertionally anymore. Awful situation.

[@joojlee]

Milei is doing great. Im argentinian. They elected him to reduce inflation and he is doing it in time record. Also stopped the workers unions mafias. Thats why he has better image than an year ago.

[@8ofwands300]

Doing great? With 52% of the population in poverty? 😳

[@joojlee]

​@@8ofwands300 milei is achieving on the goals that we voted him for and is fixing argentine's economy in time record. The poverty rate rising is expected at first as I explained. You can read again my previous comment if you missed it. Anyway the fault is on peronism that took us to 45-50%. Poverty in the end is going to lower to one digit if we keep doing the racional things and keep cutting the state spending. If you are not from argentina or venezuela it's difficult for you to understand how harmful for the economy and culture is having a big state.

[@joojlee]

​@@8ofwands300sorry, i thought i explained about the poverty rising here but i didnt. It's expected because we were juggling with debts financing "social justice" with money printing. That was generating inflation that was causing an economy crash, as inflation harms everything. When you stop money printing you can't finance those "social justice" services and can't pay for the salary of state employees, so you need to cut things here and there that makes poverty rise for a short time. But then you fixed the economy, you stopped the inflation so companies can have real profits again, they invest more, hire more employees and in the long term poverty lowers to one digit. Also those "social justice" services are just fake state companies that are the source of corruption. They claim they are doing it for the people but they use it for stealing money from taxes. When you have big taxes you also ruin the economy, you make it difficult for companies to have profits. When you lower taxes the economy grows, there is more investment and more jobs. An economy that lives out of taxes and money printing works for 10 years tops. But then it crashes and rises poverty to 50%. It's the way it is.

[@VincentConti-m5j]

​@@8ofwands300 not😮 have you been there?😮

[@brunoqueiroz2759]

as a brazillian i am very happy you are willingly destroying your own GDP and industrial capacity, if that was your goal than great, that just tips the regional balance of power in our favour, so thank you 😆😁

[@ClaudiaStroszer-w5x]

Milei did what he promised in the campaign..1. To Reduce inflation. 2. Increase safety/security. Under Milei, he reduced inflation from 25,5% to 2,4 % . And now Piqueteros are almost extinct... so safety has improved. Both promises has been accomplished .🩵🤍🩵Long Live Freedom 🗽🇦🇷

[@petulioclark2367]

Milei has turned Argentina around for the better in less than a year. Us workers no longer have to guess what we'll find or how much we'll have to pay when we go grocery shopping at the supermarket

[@TheBielrangel]

you just won't have money to buy things 😂

[@no_more_spamplease5121]

​@@TheBielrangelWell, to be fair, solving all the economic woes of a country in just one year would be impossible for any one. The guy is surely controversial in some of his ideological points, especially in foreign relations, but let's hope the economic shock therapy will in the medium term help the situation of Argentinian families. We'll have to wait and see. All the best for you.

[@makizzan7803]

@@TheBielrangelllora zurdo

[@Andronichuk]

Can you elaborate? This report notes around 23% monthly inflation

[@petulioclark2367]

@@Andronichuk If what you took away from the report is that there’s a 23% monthly inflation rate, that just shows the ideological bias in the report. Right now, monthly inflation is below 3%, and there’s no reason to believe it won’t keep dropping in the coming months. Sure, there are still some service prices that previous leftist governments controlled and funded through money printing, and those need to be adjusted. That might keep monthly inflation between 2% and 3% until March (2025). But, for example, food prices are running at less than 2% inflation. Wages have been beating inflation for four months straight now, and over time, they’ll recover what was lost after the adjustments. There’s no sign things will get worse, especially since Milei has been really smart about trying to fix the mess the leftists left behind

We are getting better every day , food prices are lowering, claothing is more affordable, credits are back, no interests, 2,4 % inflation , suprlus , there is no going back to Socialism

[@marsenbloss]

❤ how can we not love him?

[@marsenbloss]

He saved us from a catastrophy

[@juanvia8394]

I am from Argentina. ARGENTINA SOARS: JP Morgan Revises Forecast, Predicting 8.5% Annual GDP Growth Thanks freedom And thanks Milei

[@nmeau]

@@juanvia8394 it’s incredible

[@jadwigapomaska3158]

So what will magically happen in the economy if Argentina keeps pulling money out of the economy xD?

[@nmeau]

@ If politicians “pull money out” of the economy,technically that will be deflationary and the real value of what is in your bank account will increase. This is something that the political left seems unable to understand. Money is only a medium of exchange. It is not a resource. If you print money to “add” to the economy you will only get inflation.

[@slobodan-milosevic]

yeah but after it has already fallen 7.5% or even more, so makes no sense thanking the fascist of milei

[@derbywinner6316]

From 200% to 193% inflation 😳

[@americanswan]

Misleading. Milie's actions revealed the true poverty levels. He's reduced poverty to 43%. Edit: 46%. Thanks for the comments. What did Milei says during that podcast he did?

[@Freiheitswerk]

The forecast for October is 46%. But still a decline.

[@pablocarrizzo]

UND’T (University of Ditella) marks the inflation low to 46%. UCA (University Católica) have poberty on Junuary (maybe march) of 2025, because this institution works with better results.

[@rorymcdonough2330]

Pure cope

[@xlautaroxmld9661]

​@@rorymcdonough2330 so, you believe in the 55% number, but you dont believe in the now 39%, of the third trimester? That's quite hypocritical imo

[@sury1088]

Update: Universidad Torcuato Di Tella now expects a poverty of 38,9%. And so does the Universidad Católica de Argentina (huge adversary of milei and still verifies lower poverty rates). And soe does the ministry of human capital of argentina. Milei already left the poverty below than he received it

[@albal3663]

The number of Argentinian Billionaires and Millionaires affected by Milei's changes.....0. it's always the poor and middle-class that have to do the lifting when it comes to supposed shock therapy.

[@gaudier82]

You need to update data of Argentina economic development

[@pedrosolermartinez6273]

It’s fire mate, bonds up, inflation down to 2 coming from 25 p/m

[@aurelianobuendia5360]

Numbers are changing but ppl live same as before him

[@davidli9328]

You can't undo the damage of over a decade of socialism to a capitalistic market in just one year.

[@daniellevin5279]

Argentine never had a socialist economy, it´s had incompetent capitalism with a series of oversized subsidies and overdone regulations. All capitalist economies subsidize some activities. Subsidies are not socialism, socialism requires government or worker ownership of the primary means of production, which has not been the case of Argentina, where most economic activity has been in private hands. Incompetent capitalism is a danger unto itself, one doesn't need socialism to bankrupt a country.

[@dannyarcher6370]

A decade? More like a century.

[@askeladd60]

@@daniellevin5279 Argentine has not had capitalism, it has had a welfarist, socialist economy where the State has a huge influence over the economy.

[@sandorski56]

@@askeladd60 Adam Smith thought Government needed to have a huge influence over the economy.

[@TheBielrangel]

@davidli9328 was argentina socialist? wow, never knew the means of production were owned by the state. Could you please show me a citation for that?

[@EdyMar77]

"this is not monopoly money" , NO , Its exactly that , The provinces refuses to cut the spending , as the old politics did all these years , so , when they dont receive overblown discresional transfers (political favors) from the federal government , they start to print their own money , they dont learn .....THAT IS WHAT CAUSES INFLATION . Cut the spending , make things efficient so you dont have to print or indebt the future generations.

[@uplink-on-yt]

Inflation peaked at 300% and it's now reducing? That sounds familiar. I think Romania followed a similar trajectory after the fall of communism, during the period of transition to a market economy. But Romania applied socialist policies rather than libertarian ones.

[@josekanashiro3610]

Really?! Socialism works in Romania?! How?!🤪

[@XxX-ShAdoW-XxX]

Wow Romania the first socialist country that works? Speechless Swiss people must envy you a lot

[@uplink-on-yt]

@@XxX-ShAdoW-XxX - I would argue that the policies didn't make any difference. Both countries were cutting thing down and privatising. But Romania pretended to have a social safety net. It was up to the markets to fix the country (just like they'll have to do in Argentina).

[@maurobatt]

Not objective. But miles better than Deutsche Welle’s similar video. For a more objective analysis I recommend Juan Ramon Rallo.

[@juanvaldivieso214]

intro music was shock therapy

[@ramstrong1961]

Lex Fridman - Javier Milei President of Argentina (1.3M views)

[@vititom]

@@JJ_jetplane Lex Fridman - Javier Milei President of Argentina (1.3M views)

[@RollyBalondo]

@@JJ_jetplane It means, people are interested about his plans and strategy.

[@xanderbarnes6724]

@@JJ_jetplane he's saying that people would rather here from the horses mouth how the economy is running instead of listening to France 24's opinion

[@MovieRiotHD]

​@@JJ_jetplaneIt's higher than most guests on Fridman his podcast. It's also reaching a wider audience now!

[@SafetyBriefer]

@@vititom Lex Fridman - Javier Milei President of Argentina (1.3M views)

[@jms9105]

He is succeeing. Look at the long term . One year score card - good. Come back in another year and it will be even better . And France 24 will have to do more mental gynnastics to try paint it as a negative thing.

[@emassot1]

Sure. “Give him more time”. No sir. Milei is dismantling incipient manufacturing sectors of the economy that any successful and independent country needs, while supporting sectors such as mining for export, in which the wealth is created elsewhere.

[@gaudier82]

President Milei facts: Poverty has fallen from 53% to 38.9% and continues to decline day by day. Inflation has fallen from 24% to 2,3% monthly. Salaries under the collective agreement have risen from 300 dollars to 1100 dollars. The country risk fell from 2700 to 560 and to down.

[@javi8323]

A week later chachos (the pseudo currency from La Rioja) is gone! Well, that did not work very well, did it? Ave Miller!

[@geoms6263]

The Road to Serfdom consists of working exponentially harder in order to earn a currency growing exponentially weaker.

[@robertruggiero9999]

I wonder how many Argentinian footballers earning astronomical sums of money in Europe and the USA are donating money to help the poor in Argentina?

[@ThatOneInTenThousand]

Now that's just a silly comment, isn't it? Why aren't all the Silicon Valley execs paying off America's trillion dollar debt? Or paying for their vets to have somewhere to live? Because it's not a problem they created!

[@servel2]

Milei solved inflation by reducing demand. When 55% of your citizenry is living under poverty and 19% living under extreme poverty where they cannot afford food and depend on Charity. That's how you lower inflation. Now prepare for the oligarchy. Argentina's problem was investment not just spending.

[@sacadosify]

I am curious: why has Milei increased income tax rates instead of keeping them the same? After all, he made drastic cuts in government spending, so theoretically the government shouldn't need even more money to continue to operate. The money he's supposedly saved should be all he's allowed to work with to get back on track. I also think it's interesting how people seem to treat him like he can do no wrong. I'd be wary of any politician who has such power - things might look good on the surface, but you don't really know his true intentions long term.

[@truonglexuan5293]

My guess is that it was one of the effort to reduce the disposable income of people in order to reduce the current hyperinflation.

[@tcial_news]

At the beginning of the year it was difficult, but quite a few taxes are already being lowered. Yesterday, one of the most important taxes was eliminated, which impacts almost all goods in the economy.

[@PJ-cg6rb]

I'd also assume debt has to go down asap, so it can increase foreign investments. He isn't all powerful, so I guess even more cutting would become hard to pass...

[@bernardodiputado8219]

Look at it positively as is the current trend, after it's just one year since he got office

[@TheRishijoesanu]

Milei is an inspiration. The smartest world leader I have seen in my lifetime.

[@manu3l246]

FRANCE 24 coping

[@marievam]

Your brain is not working properly....

[@batitony]

lol

[@vickieguevara9391]

So cutting all those jobs started a recession and 70 % are struggling. 17 % extreme poverty.

[@Max_Power_]

Sure, 70% of the population in the whole country were working for the state and were fired by Milei... 😂 Argentina isn't the province of Formosa. 😆

[@bernardodiputado8219]

Wait until it rebounds

[@AIManifesto]

NOT much of an EXIT when us Argentinians have to go buy everything in Chile, and inflation decreased but our poverty rate increased more than ever under Melei. Inflation decrease won’t matter when we aren’t making anything here in Argentina disfortunamente. 0:19

[@marsenbloss]

Love my President Milei and will certainly vote for his reelection🎉.

[@josei.nazaranchorena2142]

well, he has cut inflation from 25% to 2.5% a month in a year; that's the worst tax you can bring to the table, cause it's pure central bank fraud; and yet he eliminated Impuesto Pais, wich was 17% for all foreign imports ...

[@alecbrito4397]

Argentina is going to become the first 4th world country ever to exist

[@italodalmasneto1701]

Still, Argentina GDP per capita and HDI is far better than Brazil. In addition, Argentina has 1/4 of Brazil's homicides per capita.

[@josbertoromero2927]

France 24 with its extreme left passion is crying on what Milei is doing.

[@rayw3294]

They know it is coming to France and the rest of the West. We cannot afford all these civil servants and politicians and their gold plated pensions. They suck the life out of economies. Well done Milei.

[@Fede-u5y]

Argentina is no longer in recesion...

[@dltn42]

Yes it is 🤣

[@CALLS2]

​@@dltn42 no esta receso pelotudo q sabes . sos argentino?

[@alexvizhar1920]

I'm Argentinian, and I'm proud of my people for choosing this great leader. Milei will become the greatest president in the history of our country.

[@nmeau]

There is only one way of improving the material situation in a country and that is by increasing production. You have to create more goods and service to share across the population, and to export. There is no other way. Milei understands this.

[@Bolognabeef]

This is very naive. One could argue to increase good and services with debt or inflation, but obviously we know it's wrong. So while mileis policies are correct fundamentally, your analysis is wrong

[@islandred]

Then he should be investing into the economy, not withdrawing from it

[@nmeau]

@@Bolognabeef Wrong - in a free market with voluntary exchange, productive capacity flows to the sector with the highest relative shortages and profit margins. Under those circumstances, the higher the productive capacity, the more critical goods and services there will be to share.

[@nmeau]

@@islandred In what way do you think he should invest?

[@islandred]

​@@nmeau Nationalising key industries, subsidising sectors, public works programs.

[@danieldisalvo4433]

Chachos are dead!!! La Rioja is a province still ran by the opposition . The focus of this piece shows France 24’s perspective to the world, shame on you. Argentine economy is blooming, ALL indicators show that. First, you need to update your point of view. Second, France

[@raguifarag7709]

so people are suffering, poverty is up, no dollars to pay debt, still needs an IMF loan... but Milei is succeeding :D

[@santiplaying5825]

Inflation is down, private finance has been restored, the devaluation of the peso is almost disappearing, different productive sectors are improving, there are talks about international cooperation, the credit score of Argentina has been restored, the corruption has been attacked with force, and Argentina future is looking way better than it would otherwise. I am in Colombia, planning to move to Argentina to be a part of the project. Yes, it is an incredible success. By the end of his term, it would be undeniable. So bad for you leftists.

[@Elvatrenni_413]

@@santiplaying5825 Inflation is down from 300% to 193% yeah, still the highest in the world so you will have to buy food as soon you get money. But you move there and tell us in one year how it is going. Poverty you know from Colombia, all Lattin America economies are just card houses ready tgo fall in any minute.

[@nadie8093]

​@@Elvatrenni_413 inflation is still over 100% but yearly inflation is a lagging indicator. Of you compare monthly inflation december 2023 (20%) with today (4%), you see how strong the downward trend is

[@santiplaying5825]

@@Elvatrenni_413 The last month was actually 2% (monthly of course), and the important thing is that it is going down, so the policies are working. I don't think all Latin American countries are card houses really. Here in Colombia, we have got a communist terrorist as president, but the institutions have proven strong. Still, I don't like to live in a country with a leftist's majority. I didn't say I was moving immediately. Probably in 1-2 years when things get better in Argentina, I will move there to be part of their project.

[@samuelsop371]

@@Elvatrenni_413 October inflation was 2.7% and going down, but even if it stays like that, annualized it would be around 40%, so it went down from 211% last year to 40%, but it won't stay at 2,7%, estimations for next year are around 30%. Stop disinforming.

[@jtcouch]

The economy is living partly off large IMF loans.

[@Rai-Bulgaria]

1:17 Poverty jumped from 42% to 53% in only one year. Obviously, it's not working, it's a disaster!

[@xlautaroxmld9661]

First: half a year. Read the words. Jan-jun. Second: the end of the third trimester gave 39%. Data from the INDEC. Not sure who that 53% comes from.

[@stephenjenkins7971]

It apparently dropped to 30-something%, so things are improving dramatically it seems.

[@Rai-Bulgaria]

@@stephenjenkins7971 Some websites say it's up, others that it's down. Who to believe?

[@stephenjenkins7971]

@Rai-Bulgaria How about you actually check the dates? Or do you need someone to spoonfeed you?

[@javierespindola6164]

These statistics are outdated. By eliminating the subsidies, Milei has made prices sincere. Therefore, the INDEC also made the poverty percentages sincere, which had been concealed during the previous administration through "cared" prices that adulterated the value of the real basic food basket, used to calculate poverty.

[@XShollaj]

The intro sounds like something my little brother in elementary made when he first started playing around with FL Studio

[@k1ltro]

Kuznets said "There are developed countries, developing countries, Japan, and Argentina"

[@marinamunoz7117]

Well, the thing is that he made order in the finances making huge cuts inf public funding, raised the most democratic taxes and lowered the luxury ones, cut 30% of the pensionist income, eliminated subsidies to energy, gas and transport, stepped in the income of public and private sector, eliminated any spending in public infraestructure in roads, bridges , water supply, clean energy, etc( at some point this will be a huge problem), but passed the 90 % of the tab on pensionists, low class and a great portion of middle class. Lowered taxes for imports and pissed of every national industry, he didn't lowered much of the agroexport taxes, all the provinces are highly in debt because he doesnt share the nationale taxes with them. That is the pragmatic thing, but at the same time, what economists are saying is that he is gambling the taxes earnings with all the bonds in dollars, and speculative thing going on with Caputo, ( a similar thing that ended badly in 2001) and that at some point it has to start spending the money he's acumulating in the country itself, if he doesn't want a civil war ( 160 %inflation in one year in office). Ok,l he had made Argentina a paradise for the capitalist mind, in exchange of the majority of the population in debt with the banks and fin-tech, let's see if things get better next year.

[@johnmarks227]

"We don't provide that money because we don't have it". But they are printing it and giving it to people anyway. And thy wonder why the country was in trouble.

[@tru7hhimself]

what a weird, biased pro-milei video. "inflation is high but coming down" - "well, argentina has had double digit inflation for decades now". but when you actually look at the graph you see that since milei took office argintina's inflation is not in double digits but triple digits. and it's only coming down because it shot up to 300% and is now coming down to 200%, which is unprecendented in the last 20 years. the only valid answer for the video's title would have been: yes, but only if the aim was to increase poverty.

[@bastrap_]

The manipulation of information in this garbage report is so obvious that I was embarrassed to watch it for more than 2 minutes. Poverty is decreasing significantly and the country ¨risk¨ has dropped by more than 70%. Argentina is an economic miracle and a global example.

[@supagirusupagiru9932]

Cutting subsidies will widen the income gap. Sacrificing the poor , rewarding the rich

[@petulioclark2367]

Subsidies made the poorest even poorer and the richest even richer. What you're saying is just crazy

[@MovieRiotHD]

Not if productivity increases as a result.

[@tefky7964]

@@petulioclark2367 How?

[@prashanthb6521]

Only minimum subsidy is acceptable.

[@Max_Power_]

​@@tefky7964Argentina is a country... 🚬 You would need to live here to understand how subsidies made poor poorer and rich richer.

[@VincentConti-m5j]

There was a time when Argentina helped bail out the USA economy at the request of JP Morgan. For real😮

[@Marc80music]

I only watched the first 4 minutes of this video. The numbers are BS. It starts "it's been one year" but they focus on numbers of the first semestre of 2024. Make the question with the numbers at decembre 2024 and compare them to decembre 2023 (than you can say "it's been one year). After one year, the inflation is down , poverty is down, he achieved a budget surplus and many other things. All this is a miracle. But he is just starting, judge him when his term is finished (2027).

[@DoorCam-l7y]

Miles should talk with Trump at end of January.... to make a deal. The US pays off the debt and Argentina becomes the 51st state or break it up abit at 4-5 states. Venezuela too....!

[@You_TroII]

Yes Trump should order the US to not invade but to annex Argentina.

[@elfanthasma433]

im come from the future, 48% poberty ( now we include the social helps in this number), 2.4 % inflation, revaluation of the peso, 3% private salaries increase, and etc etc.

[@Max_Power_]

38.9% poverty in the third quarter of the year. 😁

[@Alejandrocasabranca]

O Brasil tem muito gás barato vindo da nossa amada Argentina e um mega Porto no nosso querido Peru 😊

[@sergiosastrecascon6002]

52% poverty, 18% extreme poverty. Anything to add?

[@asjsjbsps]

poverty: people 2 times beloe the median income...yeah this stat tells us nothing about how people are doing in a country😊😊😊

[@adrianb3868]

Yes. Don’t forget 20 years of Kirchnerism (leftist Peronism).

[@bernardodiputado8219]

Dropped inflation

[@ticktockbam]

You gotta break a few eggs to make a cake. You didn't expect him to fix the economy in only 1 year without shock therapy, did you? After all, the alternative was to just keep doing the same amd eventually become Venezuela. Nice try tho.

[@stephenjenkins7971]

"Let's continue digging ourselves into the hole instead of digging ourselves out of it!" mfer logic right here

[@Exponentialdoctor]

The data answer by itself: 90% less inflation and more than 10 points less in poverty, incredible public support. Hugs.

[@sauravroy2244]

What Argentina did is a miracle! For understanding of France24 this is called Capitalism which must be alien language!

[@windsong3wong828]

Cutting all subsidies/ government spending is good for certain groups of population. But all the people that relied on the subsidies will die or be paralyzed from starvation and poverty. A true capitalist will love it. Let the rich get richer and the poor have to live like a rat. Argentina will get stronger in the long run. Cutting any subsidies will always make the economy stronger. Pandering to the poor and weak is always a weakness of a lot of democratic government. In most countries, you OVERPROMISE to get elected. You promise everything to everyone……

[@MidnightRambler]

Yup 👍

[@bridgetgear8621]

It’s a disaster here

[@brianmayabella5992]

Inflation = production vs population

[@tomaspecl1082]

I dont know where you got the idea that Milei has ideology similar to that of Trump, where did he say that? It seems a bit different.

[@Rainy_Day12234]

The government consumes wealth. The private sector creates wealth. A country lives on borrowed time when wealth ceases being produced.

[@aaronb8698]

How can you expect growth in any economy when it's not taught in school? Inavation in a country or economy should start in schools so price discovery can trickle up not down. Kidds should have buissness competitions that compete with real-world market industries and clear understanding of Argentinas manny resources, and when they win, they should receive low-interest bank funding to start and grow businesses right out of school, paired with solid educational supports like supply and demand, feasibility, and money management. If you want growth not a dumpster fire and a sosalisam resurgence.

[@r_fh__l]

He's delivering on the program he promised. He didn't promised caring about the people.

[@Max_Power_]

He cares about the people, that's why it's working.

[@francocabernet11]

The expert is delusional

[@siriusman6169]

The Neoliberal economic policies and IMF prescriptions would keep pushing ordinary Argentinians into extreme poverty.

[@Miami-kl8kq]

land last 40 years of Peronists socialism and neomarxism is innocent :)

[@BVA07]

​@@Miami-kl8kqsocialism is not when government does stuff

[@no_more_spamplease5121]

Sure. But what is the better alternative? Let's be realistic. The country barely has dollar reserves, it is on the verge of default. So it will have to ask money to the last-resort lender, the IMF.

[@Max_Power_]

​@@BVA07It's socialism of 21st century

[@EvanToutz]

But you got rid of all the free college education which means you’re now raising peasants who will not be well educated so what kind of skilled labor are you guys producing for the next few generations?

[@asjsjbsps]

the us actuallyy had wayyyy higher education rates until the creation of the department of education in 1979. still doesnt matter tho you can copy and paste this and place it anywhere you want government is inneficient😊😊😊😊 mileis economic plans will allow people to buy their kids school instead of daddy government meaning people are freer arent brainwashed by the state and arent bribed with rheir own money and attract more buisnesses with new investment opportunities and less taxes. rightism litterally saving every country when applied properly. milei is a hero

[@Numenor76]

01:16 lol...we are sheep, definitely.

[@henryterranauta9100]

🌸🌸🌸Welcome 🌹🌹🌼🌼🌷🌷Kate🌷🌷🌼🌼

[@JeremAl]

Interesting thanks

[@marin0isart]

Is funny how he said the poverty increases to 52% of the population but than he said the salaries are growing 😂, the problem in Argentina the inflation is never registered close to the reality

[@leehossain8339]

I suspect this dude is on the Government's payroll and has been instructed to say all the right things.

[@cabo10]

Milei is doing a great job. But changes takes time when you come from comunism.

[@lindajones4438]

People need to develop jobs for themselves.

[@eddiechristianaguilarkleim7599]

Lies... Incomplete and wrong information ...

[@anirudh_s17]

interesting that most comments in here are in English...

[@fupopanda]

There are only 20 comments so far. That's hardly any comment for a KZbin video from a channel of 3 million subscribers. Also, this channel caters to English audience.

[@RollyBalondo]

because, not all Spanish speakers will watch this.

[@Praetorian1944]

Well the video is in English. So people commenting presumably understand and English? lol

[@mamanitubea]

You are not an honest economist if you assess Milei by the year-on-year inflation rate to October The monthly inflation rate has plummeted since he eliminated price controls and balanced the budget

[@barryhoward7997]

A possible role model recovery from a curious political outsider. Many would like to see him fail as corruption is involved world wide, including the USA. If he can succeed could be viewed as a path to success. Also a path to save democracy. As they say, freedom isn't free.

[@batitony]

If he fails (and he actually is) Milei's simps will NEVER admit it.

[@johnpala7782]

He’s changed an awful lot in only a year. But like most media channels negative Lefty undertones.

[@jim2376]

Argentina: perpetual basket case.

[@CathyJ-st2ps]

He works for the rich.

[@franciscomelonirastorza7703]

Incredible! He is the man

[@xxxxl2333]

Milei is amazing tool to transfer Argentina's wealth ( public assets ,mines , land , farms...etc ) to foreigners that's why foreign investment is supporting him.

[@BasilBeaton]

Soon the average Argentinian will be as economically successful and happy as those of the US, UK, Germany etc.

[@sheh.9163]

Is inflation going down, because more people are unemployed? After all the public sector jobs were lost, did the private sector hire more workers?

[@Max_Power_]

Are you saying that monthly inflation went down from 25.5% to 2.7% just because he fired let's say around 50,000 public jobs? Argentina has a population of 46.65 millions.

[@sheh.9163]

@ well overall inflation is still up over 200%, and I’ve read that something like 60% of people in Argentina have public sector jobs. I maybe wrong on the exact figure, but it was a large chunk of the economy that relies on that income.

[@sheh.9163]

well overall inflation is still up over 200%, and I’ve read that something like 60% of people in Argentina have public sector jobs. I maybe wrong on the exact figure, but it was a large chunk of the economy that relies on that income.

[@freddyromariovasquezcairo2250]

​@@sheh.9163 You should look monthly inflation, I should say he already fixed the inflation problem and from here is only growth.

[@skepticRN]

Workers don’t cause inflation. Neither do businesses. Only governments and central banks cause inflation.

[@MarkLatvala]

The key to capitalistic growth is capital. For countries that lack capital (There is no money!) it is imperative to attract capital investment from foreigners. Capital investment will make the Argentine workers more productive & lead directly to greater wealth. Capital investment will come when investors see stability. (It is important to understand that IMF loans are not investment.) Argentina's future is bright if they can stay on the path of stability & low inflation because many other factors are already in place. That''s why the Merval Index continues to rise.

[@SteveF2025]

Short answer - yes

[@wubinyang8318]

Do you catch a cold?

[@jamess.2649]

Use bitcoin

[@Do-not-be-sheep]

Milei needs to reach out to companies leaving China to move their manufacturing to argentina

[@peterjaniceforan3080]

💸 🇦🇷😳

[@luchomscyfy]

Answer: yes. It's working.

[@LeandroUrreaga]

Yes. Next question.

[@brandonhultgren5776]

La Rioja reminds me of US Democratic states who drive themselves deeply into debt and wait for a Democratic president to bail them out and shift the burden upon the whole country.

[@dvbernard]

Ridiculous comment. "Democratic states" (CA, NY, MA, etc.) tend to be the economic engines of the entire country. Red states receive more from the federal government than blue states -- and it's been that way for decades. The reddest states (i.e., those in the south) are also the poorest states, the worst performing states and the states with the lowest levels of education and health outcomes. As I said, a ridiculous comment -- and one that has nothing to do with the video you just watched.

[@aaronsmith1474]

So La Rioja is not like any US state? Because what you described doesn't exist lol

[@summak]

11:10 Milei says no to EV.

[@dadaistaingegniere]

Milei has done an incredible work. It will studied in schools in the future as a great economic turning point in Argentina. "Shock Therapy" is a biased term coined by the leftist author Noami Klein to talk about ideas and policies she doesn't want, so she patologised it and despise those ideas.

[@asjsjbsps]

not if leftist media keeps censoring any example of rightist sucsess (ireland singapore hong kong and now argentina!) instead we must all praise china for fixing itself and ignore the fact that they did this by privatizing more and if they privatized even more they might topple america.

[@8ofwands300]

Seems he just fired half the government, stopped government services, raised taxes and abandoned half the population to poverty. Anyone could have done that. Wow. Shows deft and intelligent leadership for sure. 😳😳

[@dadaistaingegniere]

@@8ofwands300 I see, you have inverted cognition. If something is red you see it green, and the same way around. Poor individual.

[@asjsjbsps]

@@8ofwands300the real hard part is to convince the people that everything will be alright if they wait and unlike other rightist who did this by lying and eventually delivering on their promises before the next election milei told the truth and got elected anyway.

[@HélpitiMartinez]

It seems Milei has already destroyed Argentina's economy, gone so much worse in less than one year

[@paulgee8253]

Argentina ought demand reparations for Chinese COVID. First payment would be cancel their debt.

[@Albert-PhotonChem]

Clearly, it has worked beyond any doubt! He is undoubtedly one of the greatest presidents in modern history, comparable only to leaders like Lee Kuan Yew of Singapore.

[@wanderlust0120]

Isn't it a bit to early for that prediction?

[@Albert-PhotonChem]

​@@wanderlust0120 Maybe, but so far everything has exceeded expectations. Inflation dropped from 1% per day to 2.5% monthly. The total fiscal deficit (government + central bank) went from over 10% to a surplus. On top of that, two regulations have been removed daily, among other improvements. It may still be early, but the progress so far has been remarkable.

[@citizenBR100]

It took marxists decades to destroy Argentina, once the richest country in the Americas. "Poverty" is due to the weakening of the peso.

[@ernstschwaig4667]

It will not work. Without in-flowing money into the system, it can't work. Nobody will invest in Argentina right now, the debts and the inflation are too high. Only an investment program to increase productivity can work.

[@no_more_spamplease5121]

I know some Brazilians who are investing in the Argentinian stock exchange. But of course Argentina will have to attract more money from abroad in order to strengthen its production power.

[@Max_Power_]

There were already multiple billionaire investments thanks to something called RIGI made by Milei.

[@ernstschwaig4667]

@@Max_Power_ To cut state spending make sense for sure, but to cut budgets for schools and universities and other useful and needed subjects is wrong.