Economist Podcasts Chainsaw out of gas? Milei’s experiment wobbles
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Oct 3, 2025 
Hal Hodgson, America's editor at The Economist, discusses the challenges facing Argentina's President Javier Milei amid election losses and corruption allegations. He analyzes the U.S. intervention to stabilize the peso and the potential political fallout from this reliance. Meanwhile, Mike Bird, Wall Street editor, explores the slow recovery of the U.S. commercial property market post-pandemic, identifying driving factors like dwindling supply and changing investment trends. Additionally, an archival clip features renowned primatologist Jane Goodall reflecting on her groundbreaking work with chimpanzees.
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US Backing Stabilised Markets
- The Argentine central bank spent about $1bn defending the peso during a crisis in mid-September.
- A public US endorsement followed, temporarily shoring up market confidence.
Perils Of External Lifelines
- US support likely reflected geopolitical and political ties rather than a single economic motive.
- Relying on foreign backing risks politicising Milei's project and could backfire if markets keep testing the peso.
Watch Midterms For Market Signals
- Expect midterm results to determine whether Milei can sustain reforms and market confidence.
- Voters' October choices will quickly translate into market reactions and peso volatility.