A Political Earthquake
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2023-11-20 06:22 by Karl Denninger
in International , 375 references Ignore this thread
A Political Earthquake
[Comments enabled]

I doubted it could happen, but it did.

After decades of socialism -- all failed, with insane inflation rates, a full-on collapse that led to wild violence both political and between citizens and more -- Argentina has had enough of it.

Argentinians have elected as their next president Javier Milei, a self-described anarcho-capitalist whose sensational rhetoric has drawn comparisons to former U.S. President Donald Trump. 

Partial election results showed Milei had 55.8% and Massa 44.2%, with 95% of the votes tallies. Should that margin hold, it would be wider than predicted by all polls and the widest since Argentina's return to democracy in 1983.

I'm relying on translations, which of course can be fraught with risk -- but the positions Milei has taken were clear.

No more handouts.

No more deficit spending to try to "redistribute."  You want something you will pay taxes for it first.  If you won't pay, you won't get, and the government will massively shrink in size as a result.

No open immigration, or open anything for that matter.  Argentina and her people first, period.

We'll see.  Its easy to say all this but hard to do.

Nonetheless that the people have been willing to at least in theory walk off from the disaster and attempt to resolve it is a promising sign.  Argentina has a lot of natural resources; with reasonable government policies there is no reason to believe they should not be able to have a good degree of prosperity -- but not equal results for all, which always ends in failure.

Is it dawn -- not in America, but for a nation that has been plagued with government malfeasance and disaster for decades?

We shall see.