Milei is already proving the Left-wing economic establishment wrong

[Dont Taz Me Bro]

Milei knows the formula. Remove the albatross of excessive regulation and taxation out of the way and let the market do what it does. Encourage investment, make it easier to do business, thus increase job growth. Centrally planned economies have never worked, but leftists simply cannot let go of their grip on the individual, as they think they know better than you do how to manage your own life.

First, what’s changed in the country: inflation has fallen to 11pc and Milei predicts it will fall further. While a monthly figure (this is Argentina after all), price rises may be coming back under control after soaring above 300pc annually.

Last week, Milei announced that the country had recorded its first quarterly budget surplus since 2008, a modest 0.2pc of GDP, but still an astonishing achievement in such a short space of time, especially for a country that has run deficits for 113 of the last 123 years.

Then, earlier this week, the central bank, which Milei has not yet gotten around to abolishing as he pledged, cut interest rates for the third time in three weeks. While they are still at an eye-watering 50pc, that will start to feed through into the economy very soon. Investors have started to notice.

According to Bloomberg data, in the blue-chip swap market the peso was the best-performing currency in the world in the first quarter of this year, and the bond markets are rallying as well.

MSN

 

[mamooth]

So why do those poliices never work in the USA? Republican admins always crater the economy, and then Democratic admins have to fix it.

In the modern era, the worst Democrat, Jimmy Carter, had a better job creation record than the best Republican, Ronald Reagan.

 

[Crepitus]

Milei knows the formula. Remove the albatross of excessive regulation and taxation out of the way and let the market do what it does. Encourage investment, make it easier to do business, thus increase job growth. Centrally planned economies have never worked, but leftists simply cannot let go of their grip on the individual, as they think they know better than you do how to manage your own life.

First, what’s changed in the country: inflation has fallen to 11pc and Milei predicts it will fall further. While a monthly figure (this is Argentina after all), price rises may be coming back under control after soaring above 300pc annually.

Last week, Milei announced that the country had recorded its first quarterly budget surplus since 2008, a modest 0.2pc of GDP, but still an astonishing achievement in such a short space of time, especially for a country that has run deficits for 113 of the last 123 years.

Then, earlier this week, the central bank, which Milei has not yet gotten around to abolishing as he pledged, cut interest rates for the third time in three weeks. While they are still at an eye-watering 50pc, that will start to feed through into the economy very soon. Investors have started to notice.

According to Bloomberg data, in the blue-chip swap market the peso was the best-performing currency in the world in the first quarter of this year, and the bond markets are rallying as well.

MSN

Lol, the overly controlled economy of Argentina wasn't "left wing".

It was barely capitalism.

Capitalism is still the best economic policy we have discovered so far, but a healthy one requites rules and regulations. Otherwise it's just feudalism renamed.

 

[Augustine_]

Milei knows the formula. Remove the albatross of excessive regulation and taxation out of the way and let the market do what it does. Encourage investment, make it easier to do business, thus increase job growth. Centrally planned economies have never worked, but leftists simply cannot let go of their grip on the individual, as they think they know better than you do how to manage your own life.

First, what’s changed in the country: inflation has fallen to 11pc and Milei predicts it will fall further. While a monthly figure (this is Argentina after all), price rises may be coming back under control after soaring above 300pc annually.

Last week, Milei announced that the country had recorded its first quarterly budget surplus since 2008, a modest 0.2pc of GDP, but still an astonishing achievement in such a short space of time, especially for a country that has run deficits for 113 of the last 123 years.

Then, earlier this week, the central bank, which Milei has not yet gotten around to abolishing as he pledged, cut interest rates for the third time in three weeks. While they are still at an eye-watering 50pc, that will start to feed through into the economy very soon. Investors have started to notice.

According to Bloomberg data, in the blue-chip swap market the peso was the best-performing currency in the world in the first quarter of this year, and the bond markets are rallying as well.

MSN

Our economic establishment is based on Reaganism, not anything left-wing. Biden is hardly left-wing when it comes to the economy. But I am happy to see another country engage in a radical experiment that we can observe instead of doing it ourselves.

 

[okfine]

He is already doing the opposite what he campaigned on... sucking up to Congress.