Argentina’s Milei Inauguration on Sunday – Trump Reportedly Considering Attending – MSM in a Meltdown as Investors Prop Up Country’s Stocks and Bonds
Argentina’s Milei Inauguration on Sunday – Trump Reportedly Considering Attending – MSM in a Meltdown as Investors Prop Up Country’s Stocks and Bonds
As we head into Sunday’s inauguration of Argentina’s President Javier Milei, conservatives celebrate and liberals worry, especially in the MSM.
The Washington Post reports that ‘Donald Trump has told advisers he would like to attend the inauguration of Argentina’s new president-elect, Javier Milei.
Logistical hurdles make the visit unlikely, according to the report.
Milei’s anti-socialist comments have rattled liberals and globalists around the world.
U.S. conservatives hail it as an opportunity to deepen ties with Argentina and to begin to push back against the increasingly leftard tilt of Latin America.
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Washington Post reported:
“At a rally in Ankeny, Iowa, on Saturday, Trump praised Milei and described his candidacy as a bid to ‘Make Argentina Great Again’.
‘You saw what happened: He ran as Trump. It was Trump. ‘Make Argentina Great Again’’, Trump told the crowd. ‘It was perfect. MAGA. He had a MAGA agenda because it’s a conservative agenda’.
“Trump isn’t the only Republican taking notice. Sen. Ted Cruz (R-Tex.) said in a statement that Milei’s presidency ‘will be a significant boost for Argentina and for U.S. interests in the Western hemisphere’.
‘The Biden administration has allowed the region to slip away from the United States and towards China, Russia, and Iran’, Cruz said. ‘Milei has committed to flipping these trends, and I look forward to working with him to deepen the U.S.-Argentine relationship’.”
Read: Argentinian Stocks and Bonds Shoot Up After Javier Milei’s Landslide Presidential Victory
Meanwhile, as the MSM frets and worries, investors are voting with their money.
Bloomberg reported:
“Investors’ giddiness with Argentina will be put to the test as Javier Milei takes over on Sunday, kicking off a presidential term riddled with challenges as he tries to bring the South American economy back from the brink.
Some of the country’s dollar bonds, which trade at deeply distressed levels, have rallied to the highest in two years. The benchmark stock index, to which foreign investors have little access because of currency controls, soared more than 45% since his Nov. 19 win.”
Reuters reported:
“Javier Milei will be sworn in as Argentina’s president on Sunday, sealing the abrupt rise of a political outsider who is pledging ‘shock’ therapy and deep spending cuts to fix the South American country’s worst economic crisis in decades.
The wild-haired economist and former TV pundit is carrying the hopes of 45 million Argentines who have been hit hard by 150% inflation. Four-in-10 people live in poverty, currency controls have been put in place to protect the peso, and the country is by far the biggest debtor to the International Monetary Fund.”
Under the outgoing Peronist four-year administration, prices rose a jaw-dropping 930%, while the peso lost over 80% of its value against the dollar.
With few deputies and senators in Congress for his Liberty Advances coalition, Milei has though been forced to ally himself with center-right conservatives.
But as some analysts have stressed, the key factor for his continuing support won’t though be whether he fulfills every single of his promises – but whether the economic situation of the families and households will improve.
“On Friday, local newspaper Clarin reported that Milei’s economic plan, yet to be unveiled, will include restricting the central bank’s powers over money issuance, the removal of tariff subsidies by April, and a block on publicly-funded works, alongside a spending freeze.
Clarin added that Milei is also planning a freeze of private-company budget benefits, a review of public salaries, and a move to sell public companies.”
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Author: Paul Serran