Javier Milei the President of Argentina can tell a good story on this . Just a few years ago, 2023, he was running to become the President. It was thought improbable if not impossible .
But what really made it worse at the time was a letter by 100 of the top economic experts in the world opposing Milei’s views ; that he would destroy the country completely.
Milei got elected and since then has turned his country around —lowering inflation, balancing the budget etc —-we have all read about it .
Here is the headline in the Guardian in November , 2023:
“Economists warn electing far-right Milei would spell ‘devastation’ for Argentina
More than 100 economists including Thomas Piketty and Jayati Ghosh publish open letter ahead of country’s 19 November election.”
These EXPERTS went on to say
The election of the radical rightwing economist Javier Milei as president of Argentina would probably inflict further economic “devastation” and social chaos on the South American country, a group of more than 100 leading economists has warned.
In an open letter, published ahead of Argentina’s crunch 19 November election, the economists said they understood the “deep-seated desire for economic stability” among voters, given Argentina’s frequent financial crises and recurring bouts of very high inflation.
Four in 10 citizens currently live in poverty and annual inflation is close to 140% – a crisis Milei has vowed to fix by defeating his rival, Argentina’s finance minister, Sergio Massa, and taking dramatic measures such abolishing the central bank and dollarizing the economy.
“However, while apparently simple solutions may be appealing, they are likely to cause more devastation in the real world in the short run, while severely reducing policy space in the long run,” warned the letter, whose signatories include influential economists such as France’s Thomas Piketty, India’s Jayati Ghosh, the Serbian-American Branko Milanović and Colombia’s former finance minister José Antonio Ocampo.”
Wow!!!!
But here is what Global Finance is saying the following January , 2025:
“When Javier Milei was elected president of Argentina in 2023, many believed the nation was headed toward disaster. A libertarian economist and TV personality who claimed to take telepathic advice from his five cloned English mastiffs, Milei also described himself as an “anarchocapitalist” and “tantric sex guru.” He also advocated for the legalization of organ sales, the unrestricted ownership of firearms and the dismantling of the central bank.
Yet, “El Loco”—The Madman, as his countrymen call him— accomplished the unimaginable: Argentina’s fiscal deficit was eliminated for the first time in 123 years.
In December 2024, Argentina emerged from the severe recession it entered in late 2023. Also, annual inflation is down from near 300% last April to nearly 100% (or about 2.5% monthly).”
And have these scholars written another letter apologizing for their colossal mistake?
Experts don’t apologize —-you know they will twist and make excuses.
Click this link for the original source of this article.
Author: brianpeckford
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