Argentina’s free market mandate

Javier Milei’s painful but necessary reform project gets needed momentum after midterm elections.

For decades, Argentina’s political leadership has rotated between spendthrift socialists snuffing out economic growth – and would be free-marketeer reformers undermined by their own timidity. Over the past two years, Argentine President Javier Milei has come closer than anyone to changing the narrative, and voters just gave him permission to keep going.

“Today we pass the turning point,” Milei told supporters late Sunday, as his La Libertad Avanza party won 41 percent of the national vote in midterm elections. That first-place finish can fairly be called a landslide in Argentina’s electoral system, under which a 35 percent result would have been a win for Milei.

Since taking office in December 2023, the brash president has made unquestionable progress. The federal budget is now balanced. Two years ago, the fiscal deficit was 4.4 percent of gross domestic product. While inflation exceeded 200 percent in 2023, it is now expected to finish 2025 at around 30 percent. Milei’s approval rating remained high, as voters trusted that the economic pain they felt from austerity measures was necessary to turn the country around.

Yet his popularity took a hit as the economy stalled and corruption scandals engulfed his inner circle. Last month, Milei’s party lost a Buenos Aires provisional election by 14 points. Yet, in a remarkable turnaround, he narrowly won that same region this weekend.

Milei’s party has secured the number of seats necessary to veto new spending, as well as block attempts to override his presidential decrees. But a positive agenda of tax and labor-market reform would require coalition-building, which isn’t a strength for a politician more comfortable wielding a chainsaw than leading backroom negotiations. On Sunday, he acknowledged the need for cooperation, but that...

Millie and Argentina are Stabbing American farmers in the back, by stepping in and cutting a deal to sell their own soybeans to China while American soybean crops sit unsold because of tariff embargoes.

2 posted on 10/27/2025 3:58:07 PM PDT by XRdsRev (Justice for Bernell Trammell, black Trump supporter, executed in the street in broad daylight 2020.a)

So America needs to do China what China would do, ship our soybeans to Argentina and have Argentina ship “their” new soybeans to China...

3 posted on 10/27/2025 4:05:02 PM PDT by null and void (Trump has 5 kids, 3 baby mamas, a mugshot, lives in government housing, and Liberals still hate him!)

Argentina wants to sell their soybeans, not our soybeans. Perhaps if they deplete their available crop they might consider such a deal but apparently they have guaranteed China all the soybeans China wants.

4 posted on 10/27/2025 4:19:58 PM PDT by XRdsRev (Justice for Bernell Trammell, black Trump supporter, executed in the street in broad daylight 2020.a)

China is building stores for the anticipated bad times.

They want all the foodstuffs they can get.

5 posted on 10/27/2025 4:29:58 PM PDT by null and void (Trump has 5 kids, 3 baby mamas, a mugshot, lives in government housing, and Liberals still hate him!)

good luck Milei!

I am very glad he won as I hold many Argentinian stocks…I am disappointed that we appear to actually be wasting money supporting them - my hope is that the money that i assume they spend buying pesos is a good investment and America profits on this deal.

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