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Posted on 06/18/2026 8:06:52 PM PDT by T Ruth
When Javier Milei entered the race to be Argentina’s president, 108 notable economists said his policies could be a disaster. Three years later, the maverick president continues to prove them wrong.
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A letter signed by 108 economists from around the world, that included Thomas Piketty and former Colombian Finance Minister Jose Antonio Ocampo, released before the 2023 election, warned that Milei’s economic platform was "fraught with risks that make them potentially very harmful for the Argentine economy and the Argentine people." They also added in their letter that, "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."
Fast-forward to 2026, and things look a lot better. Inflation fell to 34% in April, and exports increased to almost $9 billion that same month. And GDP growth surged to 4.4% last year. "The fact is that Milei really knows his stuff," Evan Ellis, research professor of Latin American studies at the US Army War College Strategic Studies Institute told FOX Business.
To make that economic bounce-back happen, Milei used policy levers similar to those President Ronald Reagan used when he took office in 1981. First, there was the so-called fiscal shock therapy. "Milei cut state subsidies, eliminated government ministries, which resulted in a primary surplus," Pete Earle, senior director of research at the American Institute for Economic Research, told FOX Business.
"The country curtailed the financing of fiscal deficits," Earle said. "The government reset its exchange rate with an informal dollarization, eliminating organized labor unions, and began external engagement by reopening its capital markets, which would result in more competition, which would be better for everyone."
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(Excerpt) Read more at foxbusiness.com ...
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Argentina has been hyped as a place for American’s and expats to immigrate to, but the economy there has been so up and down over the years/decades that it’s difficult to know if that would be a nice move to make. But if it was, giving how our economy in the US is sinking further into a depression, it would be something I would consider if I knew I could make a living down there.
Top Men.
Depr3ssi9n? You’re k8dding, right?
All designed to sway mushhead voters, has nothing to do with facts or proven theories.
The educated experts can’t have simple solutions. Puts them out of a job and into the “real world”.
Javier Milei is right. So were our founding fathers.
Extreme problems can only be solved by extreme solutions.
America is 40 trillion dollars in debt. Our culture has deteriorated due to rampant immigration. Our judicial system has been politicized and weaponized.
Moderates will never solve these problems. They’ll only slow the pace of decline.
I’ve been to Argentina and could retire there very comfortably on savings if I wanted to. But try to make a living there? LOL.
I’d like to know the backgrounds of the 108 economists who think free market capitalism would lead to a disaster.
What?
Per Grok:
As of mid-2026, the U.S. economy does not meet any generally accepted definition of an economic depression. Latest available data show continued expansion rather than contraction. Real GDP increased at an annualized rate of 1.6 percent in the first quarter of 2026 (second estimate), following a 0.5 percent increase in the fourth quarter of 2025; both figures are positive. Full-year forecasts for 2026 from multiple institutions cluster around 1.8–2.2 percent real GDP growth.
The unemployment rate stood at 4.3 percent in May 2026 and has remained in a narrow band of 4.3–4.5 percent since mid-2025—levels consistent with a healthy labor market rather than distress. The NBER has not declared a recession since the brief 2020 episode associated with the COVID-19 pandemic; the economy remains in an expansionary phase according to official business-cycle chronology.
It remains a dismal “Science”.
Right?
“But try to make a living there? LOL.”
Work From Home?
Inflation included?
Even their socialism is not that bad compared to Marxism, Leninism, Maoism or any other isms out there. The downside of Peronism is hyperinflation.
economists wrong AGAIN? ... and again and again and again and again ...
The only function of economic forecasting is to make astrology look
respectable.
— John Kenneth Galbraith
That would make a great cryptoquote!
The annualized inflation rate in Argentina was 34% at the end of last month. 4% growth is nothing to brag about when you blew it with 30% more inflation.
Poverty is rising in Argentina, inflation is high, unemployment is high, and the only people who think Mellei is on the right track are the rich folks and foreigners.
Argentina would be far better off with somebody named Peron.
It’s a long trip if you get called into the office. Maybe get hired as Peter Thiel’s personal assistant?
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