The Tom Woods Show
Ep. 2588 One Year of Argentina's Javier Milei
Jan 3, 2025
Skot Sheller, a free-stater from New Hampshire, dives into the first year of Javier Milei's presidency in Argentina. They discuss Milei's bold economic reforms, successfully tackling inflation and restoring national pride. The conversation also highlights his controversial political tactics, his evolving relationship with Donald Trump, and the challenges ahead as he prepares for the 2025 elections. Sheller shares insights on Milei’s cultural context, the importance of local engagement, and the rising popularity of his administration amid economic recovery.
37:45
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Quick takeaways
- Javier Milei successfully balanced Argentina's budget for the first time in 15 years by drastically cutting government transfers and consolidating ministries.
- Milei's rising public support and strategic coalitions with center-right parties have enabled him to push through critical economic reforms despite a challenging political landscape.
Deep dives
The Economic Crisis Javier Milei Inherited
When Javier Milei took office as president of Argentina, he faced an unprecedented economic crisis. The previous administration’s reckless money printing led to a staggering inflation rate that was accumulating at approximately 3,700% annually, alongside a 5% budget deficit. Argentina's economy was in severe recession, evidenced by negative reserves of $12 billion, which left the country with more debts than foreign reserves. This dire situation set the stage for Milei's efforts to implement radical economic reforms to stabilize the nation.
