Thank you Joel for educating us northerners to the rebirth of a nation! Simple solutions in a complex world where logic has been applied in place of lies. The southern hemisphere will continue to evolve and become stronger as they send their final shipments of useless breathers up to America. This election will show just how much of a purposely designed third world shithole America has become. If the corrupt polls are even 50% accurate, it shows that ignorance and stupidity has taken over intelligence and logic, and the price of that is what we witness in our democrat controlled cities, but on a national scale. Yes Joel, I hope to one day be sitting in a local cafe with you, enjoying a good glass of wine, and discussing how wonderful my family is adjusting to life in the Paris of the South, and how sad it was to see how the real Paris was destroyed by a war created by the same demented creatures that rule the the ghetto called America🤔
Love the optimism, and I agree that these steps are necessary, but the cepo is still firmly in place.
The dollar remains extremely undervalued, and wages are comparable to those in some poor African nations. Meanwhile, the cost of many basic consumer goods approaches that of wealthy developed countries, with meat being the one exception.
The real test of confidence will come when we see what Argentina looks like once the cepo is lifted.
Milei is doing an impressive job; it’s hard to imagine the state of the country if the Kirchnerists had been reelected.
That said, I’m being extremely cautious, particularly given the mountain of debt coming due in 2025.
Reading these reports from Argentina is very encouraging. I wonder what it would take for the USA to set off on this road? Seems like the first steps are brave voters and some way to cut workers loose from the government teat. We might have a few of the former, but the latter are in very short supply, especially since the government does everything it can to encourage more dependence.
I have been thinking about establishing a bank account in another country where the currency is not declining in value vs the USD. However, the USD vs the ARS shows that the USD is gaining strength over the ARS, so I am not sure what data you are using. I do not see that the ARS is gaining strength over the USD. Care to comment?
Hey J W Bone, thanks for your comment. It's true that the official ARS has been in steady decline against the USD; I was referring, as indicated, to the unofficial ("dólar blue") rate, that which is recognized on the street here. The spread between the "blue" parallel rate and the official rate has been narrowing for the past four months or so. Perhaps I'll make a separate post about the difference between the two... but yes, the difference is between official and unofficial rates. Cheers!
I'm surprised that the now-former Minister of the Economy had the guts to run for election last year. But maybe he realized that even if he wasn't elected, it was probably the only way he could avoid getting hung by his shoe-laces and repeatedly flogged in public until his lifeless body was hauled away with the next day's trash. Because that was the fate that Serfio Massa probably deserved, rather than being allowed to run for election at some time in the future.
And that super oferta is too good to be true, especially for me and my wine-loving appetite! Maybe if the US gets some rapid disinflation, I'll enjoy the same thing up here. But I doubt it. The first-world nations never experience anything as good as major disinflation bouts; they get stuck trying to finance the rest of the planet.
The only thing that matches monetary inflation is the ego inflation of the corrupt politician.
Always a pleasure, senor. And whenever you show pictures from Buenos Aires I get jealous. I live in one of the suburbs of Detroit - so you can understand why.
He sounds a bit jealous or something of Milei. He expects a budget surplus to reduce taxes after 1 year. And this after 75 years of profligacy! Sure he has moved Gov employees around, what does he expect, sack ALL Gov workers? There would be mayhem. I could not watch all of it, so narrow minded I suspect an ulterior motive...
I thought it was empirically based and honest. He made many valid points. But it was a bit harsh, perhaps because he's justifiably skeptical. Others have made similar complaints. Hopefully, Milei will continue to prove them wrong. Regardless, we need this kind of expert analysis and civil debate.
But it was like he stated," taxes are theft", thats it in a nut shell both direct and indirect. Not too complicated. We shall never have an irrate critical thinking population. Those days ended when people excepted their own death warrants.
The Argentine story is totally unnoticed in the New York Times. As if it didn't happen. Not the game those Deep Staters want to play!
Thank you Joel for educating us northerners to the rebirth of a nation! Simple solutions in a complex world where logic has been applied in place of lies. The southern hemisphere will continue to evolve and become stronger as they send their final shipments of useless breathers up to America. This election will show just how much of a purposely designed third world shithole America has become. If the corrupt polls are even 50% accurate, it shows that ignorance and stupidity has taken over intelligence and logic, and the price of that is what we witness in our democrat controlled cities, but on a national scale. Yes Joel, I hope to one day be sitting in a local cafe with you, enjoying a good glass of wine, and discussing how wonderful my family is adjusting to life in the Paris of the South, and how sad it was to see how the real Paris was destroyed by a war created by the same demented creatures that rule the the ghetto called America🤔
Love the optimism, and I agree that these steps are necessary, but the cepo is still firmly in place.
The dollar remains extremely undervalued, and wages are comparable to those in some poor African nations. Meanwhile, the cost of many basic consumer goods approaches that of wealthy developed countries, with meat being the one exception.
The real test of confidence will come when we see what Argentina looks like once the cepo is lifted.
Milei is doing an impressive job; it’s hard to imagine the state of the country if the Kirchnerists had been reelected.
That said, I’m being extremely cautious, particularly given the mountain of debt coming due in 2025.
Thanks for the update! Really enjoying them!
Jordan, is it Argentinian debt coming due? Do you know when?
Reading these reports from Argentina is very encouraging. I wonder what it would take for the USA to set off on this road? Seems like the first steps are brave voters and some way to cut workers loose from the government teat. We might have a few of the former, but the latter are in very short supply, especially since the government does everything it can to encourage more dependence.
I'm thinking of writing in JD Vance on my vote. Do they let you write in a name anymore?
Or maybe the rapture will happen before Nov. 5.
We need a motosierra!
“There you go again” giving me hope. Thanks anyway.
I have been thinking about establishing a bank account in another country where the currency is not declining in value vs the USD. However, the USD vs the ARS shows that the USD is gaining strength over the ARS, so I am not sure what data you are using. I do not see that the ARS is gaining strength over the USD. Care to comment?
Hey J W Bone, thanks for your comment. It's true that the official ARS has been in steady decline against the USD; I was referring, as indicated, to the unofficial ("dólar blue") rate, that which is recognized on the street here. The spread between the "blue" parallel rate and the official rate has been narrowing for the past four months or so. Perhaps I'll make a separate post about the difference between the two... but yes, the difference is between official and unofficial rates. Cheers!
I'm surprised that the now-former Minister of the Economy had the guts to run for election last year. But maybe he realized that even if he wasn't elected, it was probably the only way he could avoid getting hung by his shoe-laces and repeatedly flogged in public until his lifeless body was hauled away with the next day's trash. Because that was the fate that Serfio Massa probably deserved, rather than being allowed to run for election at some time in the future.
And that super oferta is too good to be true, especially for me and my wine-loving appetite! Maybe if the US gets some rapid disinflation, I'll enjoy the same thing up here. But I doubt it. The first-world nations never experience anything as good as major disinflation bouts; they get stuck trying to finance the rest of the planet.
The only thing that matches monetary inflation is the ego inflation of the corrupt politician.
Thanks Joel, always a pleasure and our plans for two months in Buenos Aires proceed apace.
Always a pleasure, senor. And whenever you show pictures from Buenos Aires I get jealous. I live in one of the suburbs of Detroit - so you can understand why.
Me too… I’m in Waterford Twp, you?
Hans-Hermann Hoppe, “Javier Milei” (PFS 2024)
https://www.youtube.com/watch?v=PNMXW7rq7vA
He sounds a bit jealous or something of Milei. He expects a budget surplus to reduce taxes after 1 year. And this after 75 years of profligacy! Sure he has moved Gov employees around, what does he expect, sack ALL Gov workers? There would be mayhem. I could not watch all of it, so narrow minded I suspect an ulterior motive...
I thought it was empirically based and honest. He made many valid points. But it was a bit harsh, perhaps because he's justifiably skeptical. Others have made similar complaints. Hopefully, Milei will continue to prove them wrong. Regardless, we need this kind of expert analysis and civil debate.
But it was like he stated," taxes are theft", thats it in a nut shell both direct and indirect. Not too complicated. We shall never have an irrate critical thinking population. Those days ended when people excepted their own death warrants.
Amazing.
Meanwhile , shelves remain empty in Venezuela , I suppose...
Did I hear the score from the musical Evita playing in the background? Don't cry for me...
I guess vacationing in Argentina is out for those using USD.