@@gagamba9198 Pundits were Indian explorers employed by the British to explore Tibet and Central Asia. They were also known as spies by the British government. They walked the mountain trails making maps using prayer beads as pace counters.
I lived in Argentina for three years in the early nineties during the hyper-inflation. It’s nice to see a non-Peronist in charge, undoing their near century of damage.
When I was a child, inflation was really high. For instance, a very popular comics named Patoruzu was worth 0.7 pesos in 1970. Ten years later, it was worth 2,100 pesos.
As very left-leaning I've always been curious what my side of the political spectrum wanted to be done in Argentina to get them out of the mess. There were no real clear ideas that I can think of, then I saw that Yanis Varoufakis was asked about this, and his reply was almost comical. He went to great lengths to describe some of the worst Milei's things (like the very non-libertarian wielding of police force against any kind of protesters), but at the same he completely and totally didn't answer the question on what the economic alternative would be for Argentina. Not only is this completely unforgivable, I'm starting to suspect that secretly even leftists are aware that the shock doctrine of Milei is really the only feasible way forward for Argentina, but they will not be caught alive admitting it.
Hang in there. I was once left leaning. No way now. It never works for very long and after other people’s money has run out, the country starts its inevitable nose dive. Winston Churchill was right. The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of miseries.
@@getyoursupervisor8519 In my experience he always answers to the point, which is why I was shocked he completely dodged answering this. As far as saying that asking him being in vain, can you list any specific examples?
Yeah, and a lot of bad stuff happened. Still, life didn’t go nearly as dystopian as people act will happen when their US Presidential candidate doesn’t win the next election. Venezuela seems to have gone more badly more quickly.
Dude, please! Saying that is detrimental to the argentine style of doing things! We don't just shoot ourselves in the foot here, that's for pu***es... We call artillery strikes on each of our toes... (And I can see the comparison coming, so I'll say that Venezuela is a whole different level of insanity... That was more like gnawing on the Tsar Bomba to see what happens...)
There are four types of economies - developed, developing, Argentina and Japan. Economists cannot explain why the fourth doesn't fail or why the third doesn't succeed
Poverty has shrunk. Those who say it has increased base their assumption on nominal income and not purchasing power. Having a nominally "high" income does not mean you can purchase stuff (low offer, high inflation). Now the purchasing power has increased.
He has taken the budget from deficit to surplus, and reduce inflation significantly, in 1 year. That is a lot considering decades of bad administration
He was elected to do mainly 3 things:FIrst and foremost: crush inflation with any mean available. Second:fire thousands of useless public workers ; third :guarantee security,especially in the Rosario region. He did these 3 things ,respecting the mandate of the electors . It is natural that his popularity between the electors is still sky high. If he wins the midterm elections later this year,he will be able to implement his full program.
He was elected first and foremost to increase people's prosperity... he hasn't done that. Yet. The poverty has increased. I'm sure his voter expected it in the short term but if more and more people drop below the poverty line... that will change
@@Bayard1503 May be some voters of him (not me) expected poverty to disappear in a very short period of time. But, poverty is not growing, it's decreasing. The reason sadly is not the growth of economic activity but it's by inflation going down. Poverty reached 57% and now is 36%.
@@marcoaurelio296larga la frula pa. Tenemos 120% de inflación en dólares la gente se caga de hambre y vos le crees al indec? Mientras juntan dólares de donde sea para seguir fugando la. Está bien claro q la están chocando toda
some update about poverty, povertt went up in the first semester from 49% to 56%, but now private statistics are measuring it at 38% by dec of 2024, which mean it already go down prior to what he inherits. As an argentinian, that left the country bc the crisis but also how dissapointing argentina history is, milei is for sure a great hope. I think it should happen what always happen, after a crisis we have a explosive recovery and the politic that is responsible of this is praised (so milei should win elections), let see how much peronism is inside peoples heart thou .
It's crazy how much difference electing the right people can make. All it takes is one giga-nerd economist with a chainsaw whose spent the past 40 years reading textbooks for fun.
I might add, let's look at Argentina before Peron. Yes, per capita income was high, but it all went to the big boys and none to the actual people. Sound familiar?
Extreme solutions usually simply add stress to extreme problems. Jamming the brakes on when your car is running uncontrolled is more likely to result in a disastrous roll than a controlled return to normality. Every new government makes the same mistake when, for purely ideological reasons, they cancel or reverse the previous government's policies, sometimes even when those previous policies seem to be working.
@@judewarner1536 The problem is that it isn't the choice between slamming on the brakes or slowing in a controlled manner. The choice is between Millei, who is jamming on the brakes, or everyone else who denies the existence of the cliff that is 100 ft in front of us.
Japan peaked due to population stagnation. Instead of immigration, they are exploiting technology that will make its way to continental Europe. Japanese are still leaders. Social cohesion over growth matters
I think this time is different. Milei should last more than one period. He is the first that is trying to make the changes from the very roots, and the first that not only has the will, the knowledge, but the character and the ways of the most strongest politician. The "bad guys" fears him. The poverty started to get down already, and in the polls he never went down from more than 50%, even in the poorest districts. He also have another unique caracteristic down here, he always told the truth to the people, so we know we were going to go very deep in order to get up later. Everything he said already turns to be true. This is something that never happens before. So people still trust him. And everyting start to get better.
It seems clear the Argintinian people recognize a massive change was needed and Milei is putting that into action. That said, I too will wait until the next elections to confirm Argentina wants change (I think they will vote for continued change).
Election timing is good for him as ratings still high. Problem is that he lacks a party machine. Voters will be electing unknown people endorsed by him. But like zelenski.
Peter pretty much falls into the "Trump the dictator" leftist camp. If Trump completely gutted the bureaucracy, lowered taxes, and brought about a new age of prosperity, Peter would say he did it wrong. In that sense, I have come to completely expect Zeihan's histrionics when it comes to US political commentary. In that sense, it must be pretty scary to see a President doing exactly what he said he'd do versus the lying sack of Biden.
I made a note of some of the things Milei did to get rid of the fiscal deficit. 1. Reduced the number of ministries by half, currently at 8. 2. Lay off civil employees, and don’t renew contracts unless the positions are absolutely necessary. 3. Stop public works. 4. Eliminate discretionary transfers (referring to financial assistance provided by the government) to all provinces. 5. Dilute public sector wages. 6. Eliminate economic subsidies by restoring utility rates to the right levels.
@@jeanlamb5026 Anyone that compares milei to trump is either uneducated or promoting an agenda, the only thing in which the 2 relate is that they govern a country in deficit (Argentina actually got off deficit some months ago). Milei eliminated most trade tariffs, trump raised them, milei operates within the bounds of the constitution, trump doesn't, milei is not a career politician, trump is.
As an argentinian businessman I hope I can help foreigners understand the practical meaning of different inflation levels. Up to 50% annual inflation you still can work, you can price things. It is horrible but you still can work. Over that, the nightmare begins... In september 2023 we were in about 200-300% annualized AVERAGE inflation levels... At that point I remember having to agree with a supplier TWO DIFFERENT PRICES THE SAME DAY! Those days, a lot of business decided that closing one or two weeks was better than remaining open because THERE WERE NO PRICES! NO PRICE REFERENCE AT ALL! Those were very stressful days. I hope the world learns from our ugly experience. God bless you all
Let's hope Milei gets re-elected. With sweeping changes, things always get worse before they can get better, and the public generally doesn't realize or accept that, especially in Argentina that has 3/4 of it's population sucking the teet of government for handouts to survive until the next day. It's hard to win votes when you are taking peoples money away, even when that's exactly what the country needs in the long-term to get out of the massive hole it is in.
Question from Argentina, in case you ever do a follow up on this matter: in the last 20 years of socialist government, chinese intervention in Argentina went overboard, granting chinese companies unrestricted mining rights for a hundred years, unrestricted lumbering rights, unrestricted fishing rights, it even went as far as giving up Buenos Aires port and the Rio de la Plata commercial rights to chinese interest, almost leaving Argentina as a practical land-locked country. You even mentioned soybean production, a big chunk of which also goes to feed the chinene food production for their chicken and pig farms, to the point that there were plans to allow for such farms to be installed directly in argentine territory. What would you say is the prospect for argentine economy under such heavy chinese interdiction?
Unlike me, Peter is simple-minded whose Brain can't comprehend Calculus, let alone College Algebra -- Peter has no educational or professional credentials to give an opinion that would survive judicial review. Richard E. Lelli, P.E., M.B.A.
It will -- Argentina 2nd stage of prosperity will be to align with the Dollar where Argentina can leverage their upcoming Economic Boom -- I predict Argentina will boot Britain out of the Falkland Islands.
Very smart distinctions between the two countries and overall good summary on the entire late Argentinian political history, and the poverty factor is true although the most recent metrics show it's already decreasing, also kinda due to the fact that Milei didn't cut on welfare programs, he just made it more efficient by deleting corruption on it's management and made it be mainly funded without printing money, but we could see a bigger bulk of reforms depending on how legislatives elections go this year. Hope to hear more of your short analysis! Greetings from Argy land
We can draw one parallel. After 1989, Poland's finances were in bad shape. Finance Minister Balcerowicz implemented "shock therapy" - a radical package of reforms including rapid price liberalization, privatization of state companies, and tackling hyperinflation (sounds familiar?). While controversial at the time, his reforms helped transform Poland's economy. The results speak for themselves: Poland's GDP per capita grew by around 800% between 1990-2020, making it one of the most successful post-communist transitions in Eastern Europe.
Peter offered a VERY accurate analysis. America is absolutely moving into Peronism, no doubt. The only thing I would add is that Milei does want to fit in with the conservatives, and holds some conservative beliefs himself, although that’s not necessarily the emphasis of his administration. Trump is retrieving a resemblance of common sense, but he is still hardly a libertarian, and will likely continue using easy-money policies through his second term.
Yeah, but Poland had German investors and eu migration ameliorating the pain of social welfare cuts. Who does Milei have? The US? Don't think so, Argentina's agro-based economy competes with the US. As for migrants to US, fergeddaboutit! China? Ideological and cultural differences mar Milei's and Argentina's acceptance of China.
Usually, a free market is better than centralized control. Since Reagan the Republican party in the US has preached conservative free market principles but, when governing, tend to either enrich their donors or work with the Democrats on giving them most of what they want in return for concessions to Republican big donors. Then these same Republican'ts end up complaining that Trump "is not a conservative" and the MAGA people's response is along the lines of "It doesn't matter because you NEVER delivered when you were in charge".
@@u2beuser714 "Necessary changes are universally anti-capitalist and anti-oligarch. Anti-trust laws and unionization rights. Social Safety Net programs. Civil rights and environmental oversight. But this is what it takes to stop the downward spiral into self-destruction. Furthermore, I am honestly tired of the tendency to equate democracy with capitalism. Democracy gives voice to the people, who want wealth and opportunity. Capitalism and oligarchy try to take that voice away because it stands in the way of wealth accumulation. Democracy and capitalism are not compatible ideologies. They work against each other. I wish that was more obvious to people. Oligarchy is why voting rights are being attacked. It is why unions have been essentially wiped out. It is why government regulations have been consistently dismantled. It is why you have been told that "government is the problem". The fact is that a healthy, functional government that is not in the pockets of oligarchs is your only true protection. And that is why oligarchs will always systematically enslave it - to remove your only real guardian. Once the government is crippled, all of your protections are laid bare, ready to be destroyed." ~ Jonathan Ginter
@@u2beuser714 No it isnt, when you give some companies favoritism by the government you are hurting other businesses that dont work with the government to get ahead, thus adding a perverse incentive on both sides of the isle to enrich themselves while stuffing out their competition who plays fair and doesnt, even if they offer a better product or service
Hi from Argentina. Pretty spot on. Milei is doing good, but there's still a lot of work to do. The biggest difference with Trump and Peron is that the US is already a huge industrialized country, even if China is even more nowadays. Peron preached a fantasy world revolving his own person. In other words, Trump has leverage to get whatever he wants.
Peter has strong biases against Trump. Ignore Peter's comparison of Peron to Trump; they are not accurate. A more accurate criticism of Trump would be to accuse him of being a "statist" or perhaps an "authoritarian," but even those words are much MUCH too strong. Those thoughts have nothing to do with emulating Peron.
It’s what I’ve been saying. Milei it’s not Trump 2.0. Milei is a man of good moral character. Milei is in a league of his own. He is better than Trump. What baffles me is that Milei aligns himself with Trump, a convicted felon. Politics, I guess.
@McCov1 ever watch the recent hearings in congress about that conviction? You be surprised how they didnt let evidence or the charges known to the jury.
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It has been Mildred Evelyn Rooney. That's been the secret to this wealth transfer. A lot of folks in the US amd abroad are getting so much from it, God has been good to my household Thank you Jesus.
Remember that time Peter predicted that Trump had no chance of becoming president again and said the Republican party was fractured and would have to be rebuilt but it actually turned out to be the democrats he was talking about. Always take what Peter says with a very heavy grain of salt mixed in with a ton of political bias 😂😂
Peter's analysis are mainly based on economics and demographics. The US election saw a turn-out in which several million fewer voters went to polls vs. 2020. Demographically and economically Peter was correct in what he thought would occur. His errors were using past indicators, similar voter turn out, and what he believed to be logical self-interest among minority groups to hold sway. Also, the business interests in US are NOT national. All are internationalist ECONOMICALLY. Even a deeply conflicted businessman like Musk is economically, by necessity, an internationalist. Steve Bannon is correct on that point.. Nativism may play at home. It does not work well in regards to trade. Trade wars with Mexico and Canada are against most US business interests. Too many people with opposing goals in one tent and no one in that tent is looking for long term cooperation.
Argentinian here (and still living in Argentina), I think Peter is spot on at 4:30, the real change will be if Milei is reelected (so in 3 years). On October 2025 we'll have legislative elections (for 1/3 of House, and some Senate) which right now looks like Milei's party will win throughout the country and that'll mean better support in Congress for all reforms, depending a bit less on allies (former president Macri's PRO, sporadically some UCR and even "federal" peronism -not kirchnerism-) but still unable to get a majority alone. Geopolitically, I think Argentina and Milei are now the only Trump's and US allies in South America, a free trade agreement would be something amazing to achieve and strengthen this friendship (even better if that means Argentina needs to leave the Mercosur, which only benefits Brazil with tons of protectionism). Finally, although agriculture is and will be for a while our top line item, the government is already projecting a large increase in oil and gas exports and specially in minerals, we'll have not only "drill baby drill" but also "excavate baby excavate" fever.
My understanding is they still have currency controls in Argentina which are artificially supporting the economy. If they really want to bring Argentina in from the cold, they need to relax the currency controls, which will unleash very significant problems for the economy. So that will be a huge challenge for Mileimor anybody.
He stated that three conditions must be fulfilled to eliminate this control: the broad money supply must align with the observed money supply, inflation must be approximately 1% per month, and the stock issue must be resolved
There aren't "many lessons here" for us or the rest of the world to learn from Argentina. Other than "don't use this system." As you pointed out Argentina has mostly a unique form of social subsidized authoritarian government perhaps similar to the old CCCP or to some degree like China. Anyway, an inevitable house of cards that frankly I'm surprised lasted this long. Do feel sorry for all its workers who weren't doing that great to begin with and now are plunged into real poverty and perhaps even hunger. This in a place that used to produce more beef than Texas.
Miliei offers tired old rebranded neoliberalism, which is just rebranded fascism. "Only, this time, it’s called instead by such names as “libertarianism” or “neoliberalism,” no longer “fascism,” so that only the true-believing fascists, the aristocrats, will even know that it’s actually fascism. It’s their Big Con. It’s their Big Lie." ~ (article: PRIVATIZATION IS AT THE CORE OF FASCISM)
Peronism: The Justicialist Party created by Perón is generally placed on the left of the political spectrum. Peronism is described as socialist by many political scientists, classified as a variant of nationalist socialism, paternalistic socialism, non-Marxist socialism, and Catholic socialism.
Justicialismo is whatever who's in charge wants it to mean. Peron once said he had a left hand and a right hand and used them both. He certainly was no friend of the Catholic church his first go-around. He and his successors have been strong populists, corporatists, corrupt, and autocratic at times, BUT usually win free elections. All this in a country with a weak judicial system.
The term TDS is not nonsensical. Just listen to some of these people in the media, and Peter is not immune. Every comment he makes is derogatory to the Trump administration, and he might want to wait to see what some of the results are before being so insulting.
Argentina should be a case study for democrats in the US. The old peronist governments have done the same things over and over again and things have not improved. Along comes someone that shatters that mold and does something different and gets elected. Doesn't matter if it works or not. It's different and its electable.
They've already changing the culture for over 15 years, this is how Milei got elected in the first place. When it comes to economic growth, yes, 25 years is what it will take, roughly to quadruple the GDP of Argentina and making it reach developed status again.
@@mrintrovert5068 It has taken 35 years for eastern europe to catch up after socialist rule so far. They have massively improved life quality but is still much lagging behind western europe.
I was living in Argentina for about 4 years back in 1988 moving forward. I still have family there now, and I like to keep up to date-having traveled back many times since. Back then I used to change dollars to the local currency in the morning, and would spend it all before the afternoon siesta, when they would change the prices for the afternoon and early evening. Rather insane for an American-but I lived very well at the time. For example, I rented my first house (1 year lease) for $40 USD a month, the second (1 year lease) for $125, and the third (1 year lease) for $283. When the last lease was up the only similar dwelling for me started at over $1,000 a month-and it was time to move back home to the USA. But it had been fascinating living there. For instance, I once visited a friend’s family mansion in Buenos Aires, replete with a full staff of butlers, maids, cooks, and the like-with an ostentatious entryway to a double-curving stairway that had huge elephant tusks on both sides. But when I visited the poor sections, the destitute living conditions were appalling to an American. Everyone I know there is very grateful that Milei won. I had lived up north in Misiones, and in my city, when Milei started, over 60% of the populace was working as an employee for one government entity or another-causing a tremendous strain on those who were part of the capitalistic marketplace. Now it’s being reformed, and all those former sucklings on the government teat have to get real jobs, and the regular people couldn’t be happier. It’s a time to rejoice! You Rock, Milei! MS - Arg. 1988 thru 1992 Ps: Peter, ease up on President Trump. Would you really have preferred the socialist instead? He was our best shot at salvation, so please try to support him.
I hope Argentina will stick with him long enough for the effects to really solidify. The improvement on inflation alone will hopefully give him the boost needed to win this next election.
Wouldn't globalization, in the long run, lead to effects similar to Peronism? If everything converges into a single monoculture, wouldn't it essentially function as living under a unified world system, with limitations akin to protectionism within a single country? Doesn't this highlight the need for diverse cultures, civilizations, and nations to act as a safeguard in case a one-world government ends up prioritizing oligarchs over the common people? Honest question.
He’s an American liberal he believes everybody’s interchangeable economic units and that nobody has a culture worth preserving that the good of the system outweighs the good of the people.ect
@@DAntiprodukt honestly no, nations are also part of the enlightenment project, so is globalism. Ideally we like human scale communities inter-connected with higher spiritual realms, but it’s hard for them to evolve organically with all this modernity around us. If we dissolve nations and let the degeneracy and chaos run wild would we then go back to normal? Like the flood. The system is unsustainable without any children playing. All that is left would be something akin to the Amish communities spread around the world. Am I wrong ?
@ it might be true! But nations are also part of the enlightenment project, so is globalism. We like human scale communities, but it’s hard for them to evolve organically with all this modernity around us. If we dissolve nations and let the chaos run wild would we then not go back to normal? Like the Tower of Babel. All that is left would be something akin to the Amish communities spread around the world. Am I wrong ?
Not always in alignment with Peter Blinkin’s rather Tony Zeihans speculations. But I’ve mad respect for his game. He’s a high functioning male reaching his mental prime (50) and has figured out a way to capitalize on his fitness routine by turning into the background for his influencer hustle. He lands in these pristine areas due to his lecture circuit. Talk about maximizing his hustle. I give him 5 stars. Political ideologies meh. Macro economic chops 4 stars. I think he undervalues business savvy as it applies to politics and its impact on economy. It’s far too nuanced for one to speak confidently on the topic of policy effect on economy unless you’re factoring in all the political side motives. Those have huge ramifications beyond what the outward implications of any policy indicate. Yet he speaks confidently regardless. I guessing he feels it’s needed to sell his thoughts ie lecture/consult hustle. IMHO
I'm still trying to figure out how reducing federal bureaucracy and returning power to the states is centralizing power. But I guess that's why Peter is paid the big bucks (by the TLAs).
Power is money in this context, Mileie isn't decreasing income inequality he's increasing it. Trickle down works against leaders real fast when there's this percentage of poor people going to the voting booth.
Never been to New Zealand before....and now I don’t have too. Pretty much looks like Alberta (Canada), and through Peters eyes...& LOTR movies.. I get it.
Do you not understanding that doing bad because of bad government policy vs. doing bad because of demographic collapse are two completely different things?
Yeah, and we still have Han Chinese and a country called China. The Middle Kingdom persists, Confucius is still remembered (if not properly heeded). It’s been centuries. Maybe Peter could say something like the CCP will face a crisis instead of saying China will be over? Maybe instead of the end of the Han ethnicity he could call it a change in Han ethnic dominance? In fact, if he could just clear up the hyperbole after the emotion grabbing hyperbolic statement a bit, that would be nice.
@@nunyabidness3075agreed it’s way too easy to look at a regime you don’t like and extrapolate the the nation (happens both ways the ccp have done the same by essentially stating that the Chinese people are the CCP clearly not true) is the problem or that the nation/people will cease to exist clearly not going to happen but yep they may loose a certain level of dominance
He regurgitates the MSM regime media. He does the dog and pony show with spectacular view of the background but has no substance. If you really want to hear a smart person talk about the same subjects listen to Sarah Paine
Would be great to go more in-depth with Argentina. You barely mentioned the importance of getting away from deficit and balancing the books as the foundation of the new economics. You also didn't talk about the initiatives to unleash mining and energy, two huge new industries which the previous government were keeping dormant. Finally, an in-depth comparison of the Argentinian Ministry of Deregulation versus DOGE would be quite interesting. You know, just tips to get you more views ;)
Milei success so far is small, as the government policy bar is set very low in Argentina its not hard to beat what's been done in the past. Calling him a "inspiration to the world" is ridiculous, lets chat in 5 years and see how this plays out :P
I wouldn't dismiss this comment so fast. Milei is an inspiration in the sense he's probably the first case in argentine history of a candidate elected based on a campaign ruled by demonstrations of technical knowledge instead of the usual empty slogans. Ideologies aside, I believe voters everywhere should probably start taking notes and cast their future votes on that criteria: imagine voters around the world starting to demand at least some level of understanding from their candidates instead of blindly following promises without an explanation of how those promises are going to become policies.
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Yes, inflation at more normal levels. In December when Milei took office, inflation was 25%. In December of this last year, inflation was 2.1 per month.
Right !! inflation went from far beneath hell to hovering right above it and that's supposed to be progress. Harris did similar with Real Wage Index; acting like it hovering right above hell was something to brag about while people had to buy 33% less food!. Milie is doing his trickle down economics while focusing on numbers the rich care about vs the average working person who's become poorer while he's in charge.
This is a pretty accurate view of Milei and Argentina. But it has to be said that Milei is only libertarian when it comes to economy, the rest of his political discourse is pretty conservative and many times violent. Far away from what a true libertarian like Ron Paul would say.
The United States is not moving towards peronism, that's a very low resolution view of both what's happening in the US and what happened in Argentina under Perón.
Trump loves government spending. He says he'll cut spending, but then turns around and actually increases it. Trump fits the definition of socialism better than libertarianism.
Peter talks about Argentina and takes a swing at Trump. Peter couldn't talk about Alpha Centauri without doing so. Thank you for not disappointing me, Petey!
I don't think that you understand how a good part of Americans and 99% of the rest of the world looks at America being led by a rapist and insurrectionalist suffering from malignant narcissism.
Yep, Mileie is doing another version of trickle down economics and thinks he can decrease the percentage of poor. Not enough resources, he'll screw that country up too.
the biggest problem for argentina is probably the poverty rate which will very slowly go away...but if they stay strong for about a decade we could see a way different argentina than now.mile i will get capital,foreign companies there..but it wil take tiem...a decade for sure...no more stupid peronism... I really hope argentinians understand that after 100 years...they got so many possibilities to turn this around...stay strong...
This channel is a side gig for Peter. I think he’s actually a reporter for National Geographic.
Chief tour guide leader of Sunshiners 'Round the World.
@@gagamba9198 He really should focus on the Makatutu birds rather than anything else.
Unlike me, Peter is simple-minded whose Brain can't comprehend Calculus, let alone College Algebra.
Richard E. Lelli, P.E., M.B.A.
ITSALLGREENSCREEN
@@gagamba9198 Pundits were Indian explorers employed by the British to explore Tibet and Central Asia. They were also known as spies by the British government. They walked the mountain trails making maps using prayer beads as pace counters.
I lived in Argentina for three years in the early nineties during the hyper-inflation. It’s nice to see a non-Peronist in charge, undoing their near century of damage.
Motive for you, milei LOVES ADORES firmes president MENEM witch is 90’s president. He will sank the country on debt
@@cajonestriada cry more, kuka
What did you do for work then?
@@cajonestriadalloralo kuka
When I was a child, inflation was really high. For instance, a very popular comics named Patoruzu was worth 0.7 pesos in 1970. Ten years later, it was worth 2,100 pesos.
As very left-leaning I've always been curious what my side of the political spectrum wanted to be done in Argentina to get them out of the mess. There were no real clear ideas that I can think of, then I saw that Yanis Varoufakis was asked about this, and his reply was almost comical. He went to great lengths to describe some of the worst Milei's things (like the very non-libertarian wielding of police force against any kind of protesters), but at the same he completely and totally didn't answer the question on what the economic alternative would be for Argentina.
Not only is this completely unforgivable, I'm starting to suspect that secretly even leftists are aware that the shock doctrine of Milei is really the only feasible way forward for Argentina, but they will not be caught alive admitting it.
Totalitarianism = leftism
Hang in there. I was once left leaning. No way now. It never works for very long and after other people’s money has run out, the country starts its inevitable nose dive. Winston Churchill was right. The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of socialism is the equal sharing of miseries.
Honestly, aking Yanis Varoufakis anything is in vain IF you want an answer with even just traces of logic and thruth. He is NOTHING
but an agitator.
@@getyoursupervisor8519 In my experience he always answers to the point, which is why I was shocked he completely dodged answering this.
As far as saying that asking him being in vain, can you list any specific examples?
that's actually a decent way to tell what's important sometimes -- what do the political classes dodge questions on/refuse to admit?
I did a paper on Argentina in the 90s and concluded that the country keeps shooting itself innthe foot.
Yeah, and a lot of bad stuff happened. Still, life didn’t go nearly as dystopian as people act will happen when their US Presidential candidate doesn’t win the next election. Venezuela seems to have gone more badly more quickly.
Dude, please! Saying that is detrimental to the argentine style of doing things! We don't just shoot ourselves in the foot here, that's for pu***es... We call artillery strikes on each of our toes... (And I can see the comparison coming, so I'll say that Venezuela is a whole different level of insanity... That was more like gnawing on the Tsar Bomba to see what happens...)
Angela Merkel: hold my beer
Well yeah. It was one of the richest countries on earth before WWI
There are four types of economies - developed, developing, Argentina and Japan. Economists cannot explain why the fourth doesn't fail or why the third doesn't succeed
Poverty has shrunk. Those who say it has increased base their assumption on nominal income and not purchasing power. Having a nominally "high" income does not mean you can purchase stuff (low offer, high inflation). Now the purchasing power has increased.
Good point, I was asking myself how poverty could possibly drop now, but theres the explanation 👍
He has taken the budget from deficit to surplus, and reduce inflation significantly, in 1 year. That is a lot considering decades of bad administration
He doesn’t give him too much praise because he’s a friend of Trump.
60 % are in poverty though
@@NewCultureNewsFault of the old government, can’t blame that on a guy that has only one year trying to fix the traditional economy, watch the video
@NewCultureNews nope, not close, check for yourself.
@@NewCultureNews What percentage of Argentinians were in poverty when the Democrats were running it?
He was elected to do mainly 3 things:FIrst and foremost: crush inflation with any mean available. Second:fire thousands of useless public workers ; third :guarantee security,especially in the Rosario region. He did these 3 things ,respecting the mandate of the electors . It is natural that his popularity between the electors is still sky high. If he wins the midterm elections later this year,he will be able to implement his full program.
He was elected first and foremost to increase people's prosperity... he hasn't done that. Yet. The poverty has increased. I'm sure his voter expected it in the short term but if more and more people drop below the poverty line... that will change
@@Bayard1503 May be some voters of him (not me) expected poverty to disappear in a very short period of time. But, poverty is not growing, it's decreasing. The reason sadly is not the growth of economic activity but it's by inflation going down.
Poverty reached 57% and now is 36%.
Only one correction: not "public workers". Just public employees. A worker is a person who WORKS! 😊 You know what I mean! 😂
@@marcoaurelio296larga la frula pa. Tenemos 120% de inflación en dólares la gente se caga de hambre y vos le crees al indec? Mientras juntan dólares de donde sea para seguir fugando la. Está bien claro q la están chocando toda
@@marcoaurelio296 damn right
some update about poverty, povertt went up in the first semester from 49% to 56%, but now private statistics are measuring it at 38% by dec of 2024, which mean it already go down prior to what he inherits.
As an argentinian, that left the country bc the crisis but also how dissapointing argentina history is, milei is for sure a great hope. I think it should happen what always happen, after a crisis we have a explosive recovery and the politic that is responsible of this is praised (so milei should win elections), let see how much peronism is inside peoples heart thou .
¡Dios bendiga a Milei!
It's crazy how much difference electing the right people can make. All it takes is one giga-nerd economist with a chainsaw whose spent the past 40 years reading textbooks for fun.
Glad to hear you gave Peron the totally disastrous image that he so well deserves 💪😁 ...Abrazo
He did that so he could use it as a stick to beat Trump with. It’s all about Trump, always. Even when it’s about Argentina.
Trump talks the Peronist talk but will he walk it. He is firing many bureaucrats and not replacing them. That's more Afuera than Peron.
@@johnbellingham8051 Way to admit you know Trump is fascist and that you support it.
@@johnbellingham8051 I'm sorry, but Trumpism is Peronism whether you like it or not.
I might add, let's look at Argentina before Peron. Yes, per capita income was high, but it all went to the big boys and none to the actual people. Sound familiar?
Coming to you live from the southern slopes of the White Mountains in Gondor!
"THE BEACONS ARE LIT!"
I am not libertarian, but extreme problems require extreme solutions and a dedication to these solutions.
True
Things have to get bad before people accept.
France Germany and USA all have problems they are ducking but things aren't bad enough yet.
Extreme solutions usually simply add stress to extreme problems. Jamming the brakes on when your car is running uncontrolled is more likely to result in a disastrous roll than a controlled return to normality. Every new government makes the same mistake when, for purely ideological reasons, they cancel or reverse the previous government's policies, sometimes even when those previous policies seem to be working.
@@judewarner1536
The problem is that it isn't the choice between slamming on the brakes or slowing in a controlled manner. The choice is between Millei, who is jamming on the brakes, or everyone else who denies the existence of the cliff that is 100 ft in front of us.
To add to the metaphor: Milei is taking the State's foot off of everyone's brakes, so people can actually start their own car
"Nothing changes if nothing changes."
The backdrop to this one is even more breathtaking that usual for these videos.
Economist Simon Kuznets said there are "four types of economies": developed, developing, Japan, and Argentina”
Aren't all countries technically either developing, stagnating or can't get off the ground?
Japan peaked due to population stagnation. Instead of immigration, they are exploiting technology that will make its way to continental Europe. Japanese are still leaders. Social cohesion over growth matters
Stages of economies, developing, thriving, left wing comes into power, depression and tyranny.
Crikey it’s beautiful there! Hope you enjoyed your day out there Peter.
New Zealand is a beautiful place, - visit sometime!
@@geofflewis8599not far from me here in TH.
I think this time is different. Milei should last more than one period. He is the first that is trying to make the changes from the very roots, and the first that not only has the will, the knowledge, but the character and the ways of the most strongest politician. The "bad guys" fears him. The poverty started to get down already, and in the polls he never went down from more than 50%, even in the poorest districts. He also have another unique caracteristic down here, he always told the truth to the people, so we know we were going to go very deep in order to get up later. Everything he said already turns to be true. This is something that never happens before. So people still trust him. And everyting start to get better.
It seems clear the Argintinian people recognize a massive change was needed and Milei is putting that into action. That said, I too will wait until the next elections to confirm Argentina wants change (I think they will vote for continued change).
Election timing is good for him as ratings still high. Problem is that he lacks a party machine. Voters will be electing unknown people endorsed by him.
But like zelenski.
May God bless President Milei and allow him the time he needs to help the PEOPLE of Argentina.
I have a hard time believing poverty is going down(at the moment, might easily go down if real growth starts) where is your information on this from?
Peter: "Milei would not fit in with the American Republican party of today"
Milei: "Yeah, that's why I spent so much time at Mar-a-Lago"
Zeihan (a cuckservative republocrat) doesn't fit in with the republican party either
He's not an American politician, so it doesn't matter. There need be no tension.
Peter pretty much falls into the "Trump the dictator" leftist camp. If Trump completely gutted the bureaucracy, lowered taxes, and brought about a new age of prosperity, Peter would say he did it wrong. In that sense, I have come to completely expect Zeihan's histrionics when it comes to US political commentary. In that sense, it must be pretty scary to see a President doing exactly what he said he'd do versus the lying sack of Biden.
Zeihan has TDS.
Zeihan is a broken clock who gets like 2 random things right per day while missing on like 98% of things he says
I made a note of some of the things Milei did to get rid of the fiscal deficit.
1. Reduced the number of ministries by half, currently at 8.
2. Lay off civil employees, and don’t renew contracts unless the positions are absolutely necessary.
3. Stop public works.
4. Eliminate discretionary transfers (referring to financial assistance provided by the government) to all provinces.
5. Dilute public sector wages.
6. Eliminate economic subsidies by restoring utility rates to the right levels.
Wait till he gives all the savings to his friends. We all know he's doing that when Trump starts to praise him.
@jeanlamb5026 Stay off the weed bro.
@ Yeah, isn't it great now that Medicaid, health research and food stamps got shut down today? Funsies! /s
@@jeanlamb5026, go back to flipping burgers and let the big boys do the actual work.
@@jeanlamb5026 Anyone that compares milei to trump is either uneducated or promoting an agenda, the only thing in which the 2 relate is that they govern a country in deficit (Argentina actually got off deficit some months ago). Milei eliminated most trade tariffs, trump raised them, milei operates within the bounds of the constitution, trump doesn't, milei is not a career politician, trump is.
As an argentinian businessman I hope I can help foreigners understand the practical meaning of different inflation levels. Up to 50% annual inflation you still can work, you can price things. It is horrible but you still can work. Over that, the nightmare begins... In september 2023 we were in about 200-300% annualized AVERAGE inflation levels... At that point I remember having to agree with a supplier TWO DIFFERENT PRICES THE SAME DAY! Those days, a lot of business decided that closing one or two weeks was better than remaining open because THERE WERE NO PRICES! NO PRICE REFERENCE AT ALL! Those were very stressful days. I hope the world learns from our ugly experience. God bless you all
Argentinians didn't learn from 90s inflation. The main problem in Argentina is curruption and this is not changing.
What jobs are all those former government employees doing?
Let's hope Milei gets re-elected. With sweeping changes, things always get worse before they can get better, and the public generally doesn't realize or accept that, especially in Argentina that has 3/4 of it's population sucking the teet of government for handouts to survive until the next day. It's hard to win votes when you are taking peoples money away, even when that's exactly what the country needs in the long-term to get out of the massive hole it is in.
He didn't mention demographics and whether the workforce is too old. What have you done with the real Peter?
Argentina has great demography. Peter has commented on this numerous times.
South American countries are 30-40 years behind the west when it comes to demography
Question from Argentina, in case you ever do a follow up on this matter: in the last 20 years of socialist government, chinese intervention in Argentina went overboard, granting chinese companies unrestricted mining rights for a hundred years, unrestricted lumbering rights, unrestricted fishing rights, it even went as far as giving up Buenos Aires port and the Rio de la Plata commercial rights to chinese interest, almost leaving Argentina as a practical land-locked country. You even mentioned soybean production, a big chunk of which also goes to feed the chinene food production for their chicken and pig farms, to the point that there were plans to allow for such farms to be installed directly in argentine territory. What would you say is the prospect for argentine economy under such heavy chinese interdiction?
isn't it obvious
This is the weakest aspect of President Milei's current policy. He originally wanted to throw China out: afuera!
@@OptimusMonk01 Actually, it is... That's why I'm scared...
The problem for Argentina is not Chinese 'interdiction' but what happens when it goes away.
Unlike me, Peter is simple-minded whose Brain can't comprehend Calculus, let alone College Algebra -- Peter has no educational or professional credentials to give an opinion that would survive judicial review.
Richard E. Lelli, P.E., M.B.A.
Love from Argentina🎉
The fresh air must be fantastic.
SFA fresh air in a chopper
Thanks for the video, Peter et al. Wow, that scenery is beautiful!
I hope Argentina will be great again 😊
Poor choice of phrasing.
@@Leftatalbuquerque Make Argentina Great Again?
😂@@gagamba9198
It will -- Argentina 2nd stage of prosperity will be to align with the Dollar where Argentina can leverage their upcoming Economic Boom -- I predict Argentina will boot Britain out of the Falkland Islands.
@@Leftatalbuquerque An EXTREMELY poor choice. 🤨
Great analisys , I am from Argentina and I totally agree with you , great job 🙌🏻
Being in New Zealand as much as he is and never a video with a LOTR reference needs to change
He should do a video from Hobbiton. It's just a question of what the subject should be...
Very smart distinctions between the two countries and overall good summary on the entire late Argentinian political history, and the poverty factor is true although the most recent metrics show it's already decreasing, also kinda due to the fact that Milei didn't cut on welfare programs, he just made it more efficient by deleting corruption on it's management and made it be mainly funded without printing money, but we could see a bigger bulk of reforms depending on how legislatives elections go this year. Hope to hear more of your short analysis! Greetings from Argy land
We can draw one parallel. After 1989, Poland's finances were in bad shape. Finance Minister Balcerowicz implemented "shock therapy" - a radical package of reforms including rapid price liberalization, privatization of state companies, and tackling hyperinflation (sounds familiar?). While controversial at the time, his reforms helped transform Poland's economy. The results speak for themselves: Poland's GDP per capita grew by around 800% between 1990-2020, making it one of the most successful post-communist transitions in Eastern Europe.
Thank you for being honest.
I was really hoping for you to touch on Milei's proposed Free trade agreement with the US. Also on his proposed Mercosur-US free trade agreement
Peter offered a VERY accurate analysis. America is absolutely moving into Peronism, no doubt. The only thing I would add is that Milei does want to fit in with the conservatives, and holds some conservative beliefs himself, although that’s not necessarily the emphasis of his administration.
Trump is retrieving a resemblance of common sense, but he is still hardly a libertarian, and will likely continue using easy-money policies through his second term.
New Zealand...obviously. Could be our Tourism motto.
When I was there for 3 months in the 90s, New Zealand was just like Peter shows. Except it was even more breathtakingly beautiful.
I cant concentrate on what Peter is saying with a backdrop so spectacular.
Milei is basically doing what countries like Poland did in the 90s
😂yeah right
Yeah, but Poland had German investors and eu migration ameliorating the pain of social welfare cuts.
Who does Milei have? The US? Don't think so, Argentina's agro-based economy competes with the US. As for migrants to US, fergeddaboutit!
China? Ideological and cultural differences mar Milei's and Argentina's acceptance of China.
@@JA-pn4jiwe have lots of USA companies already operating in Argentina in Industrial, oil&gas and mining sectors.
Spot on analysis about Argtand the actual state of affairs in the US. Thank you Peter.😊
Sometimes, a free market is better then control.
Usually, a free market is better than centralized control. Since Reagan the Republican party in the US has preached conservative free market principles but, when governing, tend to either enrich their donors or work with the Democrats on giving them most of what they want in return for concessions to Republican big donors. Then these same Republican'ts end up complaining that Trump "is not a conservative" and the MAGA people's response is along the lines of "It doesn't matter because you NEVER delivered when you were in charge".
Cooperation between government and private enterprise is desirable
@@u2beuser714 Debatable.
@@u2beuser714 "Necessary changes are universally anti-capitalist and anti-oligarch. Anti-trust laws and unionization rights. Social Safety Net programs. Civil rights and environmental oversight. But this is what it takes to stop the downward spiral into self-destruction.
Furthermore, I am honestly tired of the tendency to equate democracy with capitalism. Democracy gives voice to the people, who want wealth and opportunity. Capitalism and oligarchy try to take that voice away because it stands in the way of wealth accumulation. Democracy and capitalism are not compatible ideologies. They work against each other. I wish that was more obvious to people.
Oligarchy is why voting rights are being attacked. It is why unions have been essentially wiped out. It is why government regulations have been consistently dismantled. It is why you have been told that "government is the problem".
The fact is that a healthy, functional government that is not in the pockets of oligarchs is your only true protection. And that is why oligarchs will always systematically enslave it - to remove your only real guardian. Once the government is crippled, all of your protections are laid bare, ready to be destroyed." ~ Jonathan Ginter
@@u2beuser714 No it isnt, when you give some companies favoritism by the government you are hurting other businesses that dont work with the government to get ahead, thus adding a perverse incentive on both sides of the isle to enrich themselves while stuffing out their competition who plays fair and doesnt, even if they offer a better product or service
I really want to go to New Zealand ❤
Hi from Argentina. Pretty spot on. Milei is doing good, but there's still a lot of work to do. The biggest difference with Trump and Peron is that the US is already a huge industrialized country, even if China is even more nowadays. Peron preached a fantasy world revolving his own person. In other words, Trump has leverage to get whatever he wants.
Peter has strong biases against Trump. Ignore Peter's comparison of Peron to Trump; they are not accurate. A more accurate criticism of Trump would be to accuse him of being a "statist" or perhaps an "authoritarian," but even those words are much MUCH too strong. Those thoughts have nothing to do with emulating Peron.
I just want to know what jobs those former government workers are doing in Argentina? What type of work is available?
Great video Peter! VLLC
I'm from Argentina. I've been saying since 2016 that Trump is a "Peronist"! here Milei supporters also draw parallels with Trump that aren't accurate
As an American, I agree. I am saddened how many of my fellow countrymen are politically illiterate.
😂😂😂😂 calm down Marxists...
You'll be fine.
It’s what I’ve been saying. Milei it’s not Trump 2.0. Milei is a man of good moral character. Milei is in a league of his own. He is better than Trump. What baffles me is that Milei aligns himself with Trump, a convicted felon. Politics, I guess.
Then why are they such good friends and why does Milei give him support at every opportunity?
@McCov1 ever watch the recent hearings in congress about that conviction? You be surprised how they didnt let evidence or the charges known to the jury.
I am from argentina. Like the isrselites in the desert, we have at least 40 years of journey before saying argentina is on the right path of freedom
Praise God! After enduring numerous challenges, I'm now a proud homeowner, blessed with an incredible $155,000 monthly income. God's faithfulness has restored my family's happiness and prosperity, fulfilling His promises. Everything is falling into place, and I'm grateful for His unwavering love and provision. God bless America!
That's a major turn around. Praise be to Jesus our Lord. Hallelujah
But then, what do you do? How do you come about that in that period?
It has been Mildred Evelyn Rooney. That's been the secret to this wealth transfer. A lot of folks in the US amd abroad are getting so much from it, God has been good to my household Thank you Jesus.
Big Thanks to my co-worker (Alex) who suggested MS MILDRED EVELYN ROONEY
Her top notch guidance and expertise on digital market changed the game for me
He's crushing it down there, good on them
Remember that time Peter predicted that Trump had no chance of becoming president again and said the Republican party was fractured and would have to be rebuilt but it actually turned out to be the democrats he was talking about. Always take what Peter says with a very heavy grain of salt mixed in with a ton of political bias 😂😂
PZ has TDS.
@@michaelbizon444TDS is a sign of mental maturity.
Peter's analysis are mainly based on economics and demographics. The US election saw a turn-out in which several million fewer voters went to polls vs. 2020. Demographically and economically Peter was correct in what he thought would occur. His errors were using past indicators, similar voter turn out, and what he believed to be logical self-interest among minority groups to hold sway. Also, the business interests in US are NOT national. All are internationalist ECONOMICALLY. Even a deeply conflicted businessman like Musk is economically, by necessity, an internationalist. Steve Bannon is correct on that point.. Nativism may play at home. It does not work well in regards to trade. Trade wars with Mexico and Canada are against most US business interests. Too many people with opposing goals in one tent and no one in that tent is looking for long term cooperation.
@@michaelbizon444 TDS simply makes sense.
😂😂😂And what does Peter's electoral projections have to do with the analysis of what Milei has been doing for a year?
Argentinian here (and still living in Argentina), I think Peter is spot on at 4:30, the real change will be if Milei is reelected (so in 3 years). On October 2025 we'll have legislative elections (for 1/3 of House, and some Senate) which right now looks like Milei's party will win throughout the country and that'll mean better support in Congress for all reforms, depending a bit less on allies (former president Macri's PRO, sporadically some UCR and even "federal" peronism -not kirchnerism-) but still unable to get a majority alone. Geopolitically, I think Argentina and Milei are now the only Trump's and US allies in South America, a free trade agreement would be something amazing to achieve and strengthen this friendship (even better if that means Argentina needs to leave the Mercosur, which only benefits Brazil with tons of protectionism). Finally, although agriculture is and will be for a while our top line item, the government is already projecting a large increase in oil and gas exports and specially in minerals, we'll have not only "drill baby drill" but also "excavate baby excavate" fever.
My understanding is they still have currency controls in Argentina which are artificially supporting the economy. If they really want to bring Argentina in from the cold, they need to relax the currency controls, which will unleash very significant problems for the economy. So that will be a huge challenge for Mileimor anybody.
They do have currency control, and they most likely will get rid of that this year.
He stated that three conditions must be fulfilled to eliminate this control: the broad money supply must align with the observed money supply, inflation must be approximately 1% per month, and the stock issue must be resolved
You always manage to bring everything into focus for me
Thank you for sharing the depth of your knowledge
There aren't "many lessons here" for us or the rest of the world to learn from Argentina. Other than "don't use this system." As you pointed out Argentina has mostly a unique form of social subsidized authoritarian government perhaps similar to the old CCCP or to some degree like China. Anyway, an inevitable house of cards that frankly I'm surprised lasted this long. Do feel sorry for all its workers who weren't doing that great to begin with and now are plunged into real poverty and perhaps even hunger. This in a place that used to produce more beef than Texas.
Miliei offers tired old rebranded neoliberalism, which is just rebranded fascism.
"Only, this time, it’s called instead by such names as “libertarianism” or “neoliberalism,” no longer “fascism,” so that only the true-believing fascists, the aristocrats, will even know that it’s actually fascism. It’s their Big Con. It’s their Big Lie." ~ (article: PRIVATIZATION IS AT THE CORE OF FASCISM)
4:42 Thank you for making things clear!
Peronism: The Justicialist Party created by Perón is generally placed on the left of the political spectrum. Peronism is described as socialist by many political scientists, classified as a variant of nationalist socialism, paternalistic socialism, non-Marxist socialism, and Catholic socialism.
Yup. Germany still doesn't get it! Hitler was a socialist a leftist. Who tells them?
broadway loves peron
All socialism is trash
Justicialismo is whatever who's in charge wants it to mean. Peron once said he had a left hand and a right hand and used them both. He certainly was no friend of the Catholic church his first go-around. He and his successors have been strong populists, corporatists, corrupt, and autocratic at times, BUT usually win free elections. All this in a country with a weak judicial system.
Peronism is more like a religion where you can find your path to wealth stepping on other's heads.
Wow that’s a gorgeous landscape
If Peter hasn’t noticed, Trump is turning many things back to the states rather than the federal government. I sure wish he could lose the TDS.
Trump wants to put tariffs on everyone. Like peron actually did
I sure wish you would stop using the nonsensical TDS term when you can’t handle facts directed at your cvlt leader.
The term TDS is not nonsensical. Just listen to some of these people in the media, and Peter is not immune. Every comment he makes is derogatory to the Trump administration, and he might want to wait to see what some of the results are before being so insulting.
And I would argue the point about what Peter states being facts. Most of it related to Trump is his conjecture, opinion, and assumptions.
Argentina should be a case study for democrats in the US. The old peronist governments have done the same things over and over again and things have not improved.
Along comes someone that shatters that mold and does something different and gets elected.
Doesn't matter if it works or not. It's different and its electable.
Great short video summing up the Argentinian disaster. The only thing that is missing is a word on corruption. Cheers from Argentina!
It took argentina a hundred years to get this bad. At minimum it’s going to take a 25 years to reverse course. This is just the beginning.
It took less than 10 years in India to fix our economy. Germany was able to rebuilt after both world wars in under 7 years.
They've already changing the culture for over 15 years, this is how Milei got elected in the first place. When it comes to economic growth, yes, 25 years is what it will take, roughly to quadruple the GDP of Argentina and making it reach developed status again.
Yeah.... it didn't start with Peron at all, things were already bad for decades there. They had huge structural problems.
@@Bayard1503 Before Peron they were top 10 biggest economies in the world.
@@mrintrovert5068 It has taken 35 years for eastern europe to catch up after socialist rule so far. They have massively improved life quality but is still much lagging behind western europe.
Awesome video! I hope leaders in the USA take note!!!!
I was living in Argentina for about 4 years back in 1988 moving forward. I still have family there now, and I like to keep up to date-having traveled back many times since. Back then I used to change dollars to the local currency in the morning, and would spend it all before the afternoon siesta, when they would change the prices for the afternoon and early evening. Rather insane for an American-but I lived very well at the time. For example, I rented my first house (1 year lease) for $40 USD a month, the second (1 year lease) for $125, and the third (1 year lease) for $283. When the last lease was up the only similar dwelling for me started at over $1,000 a month-and it was time to move back home to the USA. But it had been fascinating living there. For instance, I once visited a friend’s family mansion in Buenos Aires, replete with a full staff of butlers, maids, cooks, and the like-with an ostentatious entryway to a double-curving stairway that had huge elephant tusks on both sides. But when I visited the poor sections, the destitute living conditions were appalling to an American.
Everyone I know there is very grateful that Milei won. I had lived up north in Misiones, and in my city, when Milei started, over 60% of the populace was working as an employee for one government entity or another-causing a tremendous strain on those who were part of the capitalistic marketplace. Now it’s being reformed, and all those former sucklings on the government teat have to get real jobs, and the regular people couldn’t be happier. It’s a time to rejoice!
You Rock, Milei!
MS - Arg. 1988 thru 1992
Ps: Peter, ease up on President Trump. Would you really have preferred the socialist instead? He was our best shot at salvation, so please try to support him.
Milei banned protesting, so I guess we'll never know...
I hope Argentina will stick with him long enough for the effects to really solidify. The improvement on inflation alone will hopefully give him the boost needed to win this next election.
Wouldn't globalization, in the long run, lead to effects similar to Peronism? If everything converges into a single monoculture, wouldn't it essentially function as living under a unified world system, with limitations akin to protectionism within a single country? Doesn't this highlight the need for diverse cultures, civilizations, and nations to act as a safeguard in case a one-world government ends up prioritizing oligarchs over the common people? Honest question.
He’s an American liberal he believes everybody’s interchangeable economic units and that nobody has a culture worth preserving that the good of the system outweighs the good of the people.ect
That's a leading question, not an honest one. You know this to be true.
@@DAntiprodukt honestly no, nations are also part of the enlightenment project, so is globalism. Ideally we like human scale communities inter-connected with higher spiritual realms, but it’s hard for them to evolve organically with all this modernity around us. If we dissolve nations and let the degeneracy and chaos run wild would we then go back to normal? Like the flood. The system is unsustainable without any children playing. All that is left would be something akin to the Amish communities spread around the world. Am I wrong ?
@ it might be true! But nations are also part of the enlightenment project, so is globalism. We like human scale communities, but it’s hard for them to evolve organically with all this modernity around us. If we dissolve nations and let the chaos run wild would we then not go back to normal? Like the Tower of Babel. All that is left would be something akin to the Amish communities spread around the world. Am I wrong ?
Not always in alignment with Peter Blinkin’s rather Tony Zeihans speculations. But I’ve mad respect for his game. He’s a high functioning male reaching his mental prime (50) and has figured out a way to capitalize on his fitness routine by turning into the background for his influencer hustle. He lands in these pristine areas due to his lecture circuit. Talk about maximizing his hustle. I give him 5 stars. Political ideologies meh. Macro economic chops 4 stars. I think he undervalues business savvy as it applies to politics and its impact on economy. It’s far too nuanced for one to speak confidently on the topic of policy effect on economy unless you’re factoring in all the political side motives. Those have huge ramifications beyond what the outward implications of any policy indicate. Yet he speaks confidently regardless. I guessing he feels it’s needed to sell his thoughts ie lecture/consult hustle. IMHO
Wow stunning scenery too
Excellent closing statement on parallels 👌
I'm still trying to figure out how reducing federal bureaucracy and returning power to the states is centralizing power. But I guess that's why Peter is paid the big bucks (by the TLAs).
Power is money in this context, Mileie isn't decreasing income inequality he's increasing it. Trickle down works against leaders real fast when there's this percentage of poor people going to the voting booth.
Milei is a king 👑 and Peter become from geopolitical to NYT reporter
Milei is also privatizing businesses that had been nationalized.
bureaucracy and managerialist busting
... because we all know how 50 years of privatization improves quality of services and lowers prices, right US?
Tu madre?
Never been to New Zealand before....and now I don’t have too. Pretty much looks like Alberta (Canada), and through Peters eyes...& LOTR movies.. I get it.
New Zealand (visited in 1997) is very close to BC (where I now live) in beauty..
I feel like Peter would never compare Biden to Peron when he was actually in power. All the videos were about how great his economic plans were…
Good video thank you will subscribe
Argentina is proof that countries and peoples do not disappear easily despite huge downward spirals. Peter should take note.
To be fair, China has a long line of historical precedents lol. Pretty much every dynasty ended in flames with the place shattered.
Do you not understanding that doing bad because of bad government policy vs. doing bad because of demographic collapse are two completely different things?
Yeah, and we still have Han Chinese and a country called China. The Middle Kingdom persists, Confucius is still remembered (if not properly heeded).
It’s been centuries.
Maybe Peter could say something like the CCP will face a crisis instead of saying China will be over? Maybe instead of the end of the Han ethnicity he could call it a change in Han ethnic dominance?
In fact, if he could just clear up the hyperbole after the emotion grabbing hyperbolic statement a bit, that would be nice.
@@nunyabidness3075 Peter said the Han Chinese are at risk of disappearing by the end of the century. Is it the end of the century yet?
@@nunyabidness3075agreed it’s way too easy to look at a regime you don’t like and extrapolate the the nation (happens both ways the ccp have done the same by essentially stating that the Chinese people are the CCP clearly not true) is the problem or that the nation/people will cease to exist clearly not going to happen but yep they may loose a certain level of dominance
Very nice video
Sometimes I really hate watching your videos cause they come from places I have never been.
NZ is only an air flight away, friend.
There are 4 types of economy: Developing, Developed, Japan and Argentina. - Simon Kuznets
Peter here gaslighting everyone like his income depended on it, oh wait it does
He regurgitates the MSM regime media. He does the dog and pony show with spectacular view of the background but has no substance. If you really want to hear a smart person talk about the same subjects listen to Sarah Paine
Sadly, you are probably right about us moving toward instead of away from peronism
Great view and great audio ❤
Would be great to go more in-depth with Argentina. You barely mentioned the importance of getting away from deficit and balancing the books as the foundation of the new economics. You also didn't talk about the initiatives to unleash mining and energy, two huge new industries which the previous government were keeping dormant. Finally, an in-depth comparison of the Argentinian Ministry of Deregulation versus DOGE would be quite interesting. You know, just tips to get you more views ;)
3:10 Kia! (Parrot)
Kea
Cool! Glad to know what the CIAs official position on Milei is!
The truth is, Argentina, Milei is making South “America” great again.
Still the poorest country in the world
But hes actually improving things. Hes a libertarian. Trump skews more authoritarian and is likely to centralize things.
Milei is an Israeli asset and increased poverty to unheard levels. He'll be out in next election. Kichnegrismo is coming
Every time I hear Peter compare and contrast South American politics, it’s glaring how inversely related his knowledge and confidence are.
Milei is an inspiration to the world - yes including the US, all of Europe and Australia
Milei success so far is small, as the government policy bar is set very low in Argentina its not hard to beat what's been done in the past. Calling him a "inspiration to the world" is ridiculous, lets chat in 5 years and see how this plays out :P
I wouldn't dismiss this comment so fast. Milei is an inspiration in the sense he's probably the first case in argentine history of a candidate elected based on a campaign ruled by demonstrations of technical knowledge instead of the usual empty slogans. Ideologies aside, I believe voters everywhere should probably start taking notes and cast their future votes on that criteria: imagine voters around the world starting to demand at least some level of understanding from their candidates instead of blindly following promises without an explanation of how those promises are going to become policies.
Yay neoliberalism? Privatization of the past 50 years decimated the US middle class.
Would love to know your insight on the more neglected countries in Mesoamerica and Northern South America. Thanks Peter!
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For the first time in generations The Money Kept Rolling In (But Not Out)
Inflation to more normal levels? its still double Zimbabwe's inflation and still the highest in the world.
yeah, he probably shouldn't have bothered trying
It's Rhodesia
Yes, inflation at more normal levels. In December when Milei took office, inflation was 25%. In December of this last year, inflation was 2.1 per month.
@@firefly9838 it isn't
Right !! inflation went from far beneath hell to hovering right above it and that's supposed to be progress. Harris did similar with Real Wage Index; acting like it hovering right above hell was something to brag about while people had to buy 33% less food!. Milie is doing his trickle down economics while focusing on numbers the rich care about vs the average working person who's become poorer while he's in charge.
5:50. Who else added a comment? Appreciate all your videos.
Former English/Protestant colonies fare better than former Spanish/Catholic colonies.
westminster system
If only it was that simple of an explanation
Nigeria? Sudán? Trinidad and Tobago?
How's India doing?
Catholic Southern Germany is way richer than Northern Protestant Germany. Please explain that.
Do one about El Salvador, Argentina being advised by us.
This is a pretty accurate view of Milei and Argentina. But it has to be said that Milei is only libertarian when it comes to economy, the rest of his political discourse is pretty conservative and many times violent. Far away from what a true libertarian like Ron Paul would say.
Article: My Libertarian Vacation Nightmare
The United States is not moving towards peronism, that's a very low resolution view of both what's happening in the US and what happened in Argentina under Perón.
That's most of Peter's resolution on many topics.
Trump loves government spending. He says he'll cut spending, but then turns around and actually increases it. Trump fits the definition of socialism better than libertarianism.
High government spending... Trump will spend to look good. Same for biden camp... Doesn't matter though economy is booming
@@cooldudecs until it runs out of other people's money. Someday soon the Fed will put bonds on auction and there won't be any buyers
High government spending + Protectionist tariffs + Protection of domestic Industries + Oligarchic rule + Grassroot popularism = Peronism
Peter, What do you think of the French revolution? A lot of work ahead and too soon for results? 😊
Freudian slip: when Peter said “a feat that was ADMITTEDLY topped under Joe Biden”. Peter sadly had to admit it. Tells us where he stands.
What are your thoughts about a potential Shale revolution in Argentina?
Fracking fluid poisons the ground water, causes mini tremors, sinkholes and mudslides.
Peter talks about Argentina and takes a swing at Trump. Peter couldn't talk about Alpha Centauri without doing so. Thank you for not disappointing me, Petey!
Took a swing at Americans who want to cut. Explained why trump will not do. That is a reasonable argument
I don't think that you understand how a good part of Americans and 99% of the rest of the world looks at America being led by a rapist and insurrectionalist suffering from malignant narcissism.
05:03 - Impressive recovery for a guy who just fell off a mountain
Any mention of the USA and Peronism is scary.
And completely wrong.
Yep, Mileie is doing another version of trickle down economics and thinks he can decrease the percentage of poor. Not enough resources, he'll screw that country up too.
I’m headed back to Argentina Saturday. Comparing Trump and peron is worth studying.
I lost faith in your wisdom when you called Freeland smart.
the biggest problem for argentina is probably the poverty rate which will very slowly go away...but if they stay strong for about a decade we could see a way different argentina than now.mile i will get capital,foreign companies there..but it wil take tiem...a decade for sure...no more stupid peronism... I really hope argentinians understand that after 100 years...they got so many possibilities to turn this around...stay strong...