Javier Milei's Presidency: The Real Impact On Freedom In Argentina

Javier Milei has been the talk of freedom-oriented expat circles since the libertarian firebrand was elected president of Argentina last year. Today, I am joined by Skot Sheller, who has been following Milei’s work for years and is himself pursuing Argentinian citizenship. Enjoy today’s discussion as Skot and I look at what Javier Milei has really accomplished so far, the opposition he faces from within Argentina, and the broader implications for freedom across Latin America and the world.
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[@sebtube1]

This guy knows his stuff. Great info.

[@Thomas-wz2nu]

Milei offers some hope

[@lawtutoring]

Milei actually raised taxes. By reinstating the income tax on poor and middle class earning brackets. This shows he's prioritising the government's budget over the people at least in the short term

[@erikolucena]

Great video, the raw reality!!

[@ExpatMoneyShow]

Thank you!

[@bitcoinpoemspro1406]

Bitcoin

[@lawtutoring]

He's had a minor impact so far. Milei is focusing on making the government's books look good, hasn't so far cut taxes. He could have repudiated all of Argentina's liabilities/debt, as Murray Rothbard would have advised.

[@ExpatMoneyShow]

Which decade of Rothbard?

[@shellbanger1210]

He cannot repudiate the debt. He is not a dictator. He cannot cut taxes without going through Congress. You clearly don't know what you are talking about.

[@lawtutoring]

@@shellbanger1210 The executive can refuse to enforce laws of the congress. it happens in the US and all countries that follow the US presidential model (like Argentina). He's not doing it for political reasons to avoid risking his power given he has no majority.

[@lawtutoring]

@@shellbanger1210 Milei actually raised taxes. By reinstating the income tax on poor and middle class earning brackets, with his recent fiscal bill that was passed. This shows he's prioritising the government's budget over the people at least in the short term.

[@shellbanger1210]

​@@lawtutoringThe money supply was more than doubling every month due to fiscal and liability deficits. The country was -12 billion in foreign reserves including debt to crucial private sector suppliers. The exchange gap was 60% between the banking system and the market rate for dollars. Milei desperately needed to end money printing and this lower nflation (a tax), which was 230% prior to Milei taking office and rising rapidly. The country was inches away from Venezeulan style hyperinflation, which would have caused 90% poverty and obviously destroyed Milei politically. Any attempt to try open the banks would have lead to a run on the banking system and dramatically lower demand for pesos, causing hyperinflation. So Milei had to get his house in order and cut spending, which in turn has dramatically lowered taxes in the form of lower inflation. (Apparently you don't believe inflation is a tax and cutting government spending is not libertarian)
Milei's more radical option would have gotten him impeached immediately for selling their liabilities at a rock bottom price.
The government has no option to repudiate debt when they have no reserves and termendous debt to even private sector suppliers. Repudiating debt would cause all demand for pesos, bonds, capital to flee, dramatically reducing activity in the economy to Great Depression levels. Their country risk Was astronomical already and it would have made Argentina absolutely untouchable investment wise.
So sorry. You clearly are wrong. He has had 0 legislation passed in 6 months until last week, and there was no chance at either a tax increase or decrease. This only option was to cut spending through extremely courageous means like cutting transfers and subsidies.
Otherwise the inflation was rising to 50% a month as it was the moment Milei took office. Only h*s dramatic spending cuts saved them from hyperinflation.