Javer Milei Elected President of Argentina

Insurgent candidate Javier Milei has won the presidency of Argentina with 56% of the vote, defeating Peronist establishment economics minister Sergio Massa, who presided over 140% inflation. I posted a Tucker Carlson interview with Javier Milei on “The Crazy Years” here on 2023-10-15. Here is how two news outlets reported the election outcome.


Here is Elon Musk’s take.


Libertarians have long dreamt of an unambiguously and unapologetic libertarian candidate winning election in a country simply by campaigning on policies which amount to “stop doing stupid stuff” and then, once elected, actually actually stop doing stupid stuff and watch what happens. An excellent example of this genre is Aaron Zelman and L. Neil Smith’s 2001 novel, Hope, set in the U.S. Here is a forecast for Argentina from “Crémieux”:


(Crémieux, writing from the U.S., whose residents consider all vowels interchangeable, spells “Malvinas” (Falkland Islands) with an “e”.)

ZeroHedge summarises Milei’s policies in its report (emphasis in the original).

A Milei presidency will have profound implications for not only the third-largest economy in Latin America, but also the region and the world. In a continent dominated by leftist leaders, Milei could create tensions with governments he has attacked, including crucial trading partner and neighbor Brazil. In an era of growing Chinese influence in Latin America, Milei could become the region’s most vocal antagonist to a country he once called “an assassin.”

Milei made a name for himself as a television pundit who insulted other guests, and has shown a tendency to fight with the news media. In presidential debates, he has cast doubt on the widely accepted tally of murders during the country’s Dirty War from 1976 to 1983.

He has branded Argentine Pope Francis an “evil” leftist, called climate change a “socialist lie” and said he would hold a referendum to undo the three-year-old law that legalized abortion.

Wielding chain saws on the campaign trail, the wild-haired Milei vowed to slash public spending in a country heavily dependent on government subsidies. He pledged to dollarize the economy, shut down the central bank and cut the number of government ministries from 18 to eight. His rallying campaign cry was a takedown of the country’s political “caste” — an Argentine version of Trump’s “drain the swamp.”

Massa was emblematic of that ruling elite — “the king of the caste,” said political analyst Pablo Touzón. The career politician attempted to distance himself from the leftist government of Alberto Fernández and Cristina Fernández de Kirchner, the heirs to the populist dynasty first launched by Juan and Eva “Evita” Peron in the 1940s. Along with a grassroots campaign of activists, Massa sought to stoke fear over a Milei presidency they argued could threaten Argentina’s democracy and way of life.

But ultimately, anger won over fear. For many Argentines, the bigger risk was more of the same.

This topic will cover events in Argentina as they play out. I’ll be interested in hearing the take Doug Casey, who spends time there, has on Milei’s election.

Bitcoin, for which Milei has indicated support, although not so far going as proposing adopting as a currency in the manner El Salvador has, is up 2.43% on the day at this writing (2023-11-20 15:06 UTC).

Here is the pure, unfiltered Javier Milei. Note his citing Gramsci at the very end. This guy knows his commies.


He has amazing eyebrow action and the hair looks like a lot of work to maintain :wink:


A great rant. I wish I spoke Spanish though, so I could hear and appreciate it directly rather than though subtitles (which these days often seem to be computer generated and spectacularly wrong).

In spite of that, my keen ears and the subtitles taught me a new word in Spanish!

So I learned that the way you pronounce “inch” in Spanish is approximately “milli-me-tra” :wink:


I was trying to recall the familiar aura and here we go – Vladimir Zhirinovsky. Is it a reincarnation of sorts? Although not on the topic on economic policy, but equally passionate:



“Trump-like”—when did Trump ever close a government agency?




Here is Javier Milei’s election night victory speech from his headquarters in Buenos Aires. I have set the video to automatically display English subtitles, but that doesn’t work with all browsers or if YouTube is feeling cranky. If they don’t appear, click the rounded square to the left of the “gear” icon at the bottom right and turn them on manually. If the subtitles come up in some other language, use the gear icon to select English.

¡Viva la libertad carajo!


Santiago Caputo, a prominent Argentine political adviser, recently made headlines when President-elect Javier Milei recognized him and Karina Milei as essential architects of his win in the run-off elections. Despite his prominence, Caputo does not have a Wikipedia page.

Santiago, 38, maintains his personal life discreetly while focusing on his job. He majored in Computer Engineering at the National Defense University and Political Science at the University of Buenos Aires. Caputo’s friendship with Ramiro Marra, a fellow political consultant and schoolmate, was instrumental in introducing him to Javier Milei.

I’m getting a deja vu of Davide Casaleggio - Wikipedia



Cantillion effect beneficiaries hardest hit.


Let’s wait until we see the furniture auctioned off.


Here’s hoping he won’t be riding around in open air motorcades and that his bodyguards are ardent supporters.


Here’s a nice cartoon explanation of Cantillion effect:


Here is the inaugural address by Javier Milei, who took office on 2023-12-10 as president of Argentina. These speeches are usually give before the legislature; Milei broke with tradition by speaking to the public from the steps of congress.

The speech is in Spanish, but you can enable auto-translated English subtitles by clicking the “rounded square” icon at the bottom of the player (which turns on Spanish subtitles), then clicking the "gear” to its right, selecting “Subtitles/CC”, then "Auto-translate”, then scrolling down and selecting English. I have specified parameters in the embedded video URL to do all of this for you, but in keeping with Google’s descent into Microsoft-like user experience, they do absolutely nothing.




This is a memorably geeky speech. I wish there were an English translated transcript so you don’t have to sit through it and read subtitles, but I haven’t been able to find one so far.

He reels off the dismal statistics of economic decline and collapse of civil society. He describes the extent to which monetisation of debt has occurred. He notes that “informal” employment now exceeds the cash economy, leading to a collapse in tax revenue. He explains the time lag between money creation and rising prices. He sketches the takeoff into hyperinflation as money creation feeds on itself. He says the solution lies with a state that protects “life, liberty, and property” and does little else. He uses Mrs Thatcher’s phrase, “There is no alternative”, when prescribing a shock to the system, and pledges it will fall on the political class, not the private sector and citizens.


One wonders how President Milei is going to get his plans implemented? After all, we have the example of how difficult it was for President Trump to get any of his plans implemented, despite Republicrats having gained control of both Houses of Congress on his coattails.

Personally, I still wonder if there is any realistic alternative to the methods used by incoming Chinese emperors when launching a new dynasty? Though in today’s world, the method would presumably involve mass firings of civil servants instead of mass executions.


I think Milei has learned from the failure of Trump and other leaders, on how to tackle the deep state.


I think Milei has learned from the failure of Trump and other leaders, on how to tackle the deep state.

Perhaps – but the Republicrats clearly have not learned, and it is not even obvious if President Trump has.

Anyone who has ever lived through a corporate (i.e. bureaucratic) downsizing can predict what will happen when President Milei orders (say) a 20% reduction in government employees. There will be long negotiations between heads of departments – at the end of which, the decision will be to cut 25% of line workers, 0% of the legal staff, and increase HR by 5% because of the additional work load. The surviving managers will be the best bureaucratic brown-nosers, and there will be a lot of score-settling as the herd of workers gets thinned out.

Bottom line – if (say) 25% of current Argentinian government workers support President Milei’s approach, by the time the cut-backs have been implemented only about 10% will be working to make his term of office a success.

A classic example was the reaction of the street-cleaning department of the City of Oakland in California after Proposition 13 was passed. City leaders fired the guys who actually swept the streets, and kept all the office workers & supervisors. Remember that even Chairman Mao with his Cultural Revolution and Red Guards failed to achieve victory over his Communist bureaucracy.

We have to wish President Milei good luck, because he has a hard row to hoe.


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He has a video out. He goes over input from a smart lower middle class woman that I think cleans his place and someone from the elite part of the country. Both say the same.


About 30 percent of the population has the equivalent of Trump derangement syndrome.

My take. Like Scott Adams points out. You can count on 30 percent of the population to be against/for anything. Thirty percent of respondents say that being constipated is wonderful.

But thirty percent is dangerous.


There is no left. There is no right. There’s the get-it-done and the not-get-it done.


The Milei peace accord.