Someone better get Joachim Phoenix on the phone, he’s got a biopic to do in a few years.
Scene 1, campaign headquarters, late at night.
In a (truly) stunning upset, Argentina has chosen a new path. MAGA! Make Argentina Great Again. The libertarian maverick Javier Milei gave a victory speech that was not just a celebration, but a battle cry against the economic turmoil that has long plagued the nation. “Today begins the reconstruction of Argentina. Today begins the end of Argentina’s decline.” He is setting the stage for what will be a huge shift in the country’s political and economic landscape.
With a staggering 55.7 percent of the vote, Milei’s triumph over Economy Minister Sergio Massa, who quickly conceded with 44 percent, signals a clear demand for change from the Argentine people. They have grown weary of the populist Peronist coalition’s grip on power. They want to be free of the endless economic crises that have made their country the butt-end of many a financial joke. Milei’s libertarian ethos is not just a political stance but a promise to dismantle the very structures that, in his view, have led Argentina to its knees.
Cut to scene 2.
Reality for Argentina
Unfortunately for the Argentinian people, his metaphorical display of ripping government agencies off a pin board will have a real-life disastrous effect on the country.
His platform is radical, and is based-on magical thinking. His plan for the abandonment of the beleaguered peso in favor of the US dollar (and the obliteration of the Argentinian Central Bank) will fail spectacularly, if it ever comes to pass at all. Argentina has precious few US dollars, and to buy them quickly is a non-starter.
In 1991, Argentina linked the peso directly to the US dollar. This was part of a broader approach to liberalize the economy. There was even a discussion about completely adopting the dollar. But, ten years later, this had to be reversed due to a severe economic crisis which led to widespread panic among people trying to exchange their pesos. There were riots and the eventual breakdown of the system that maintained the peso-dollar link.
Get the dollar, destroy the government. That’s the plan the crazy guy with the chainsaw has sold to the Argentinian voters. They loved it.
Milei, with his wild hair and crazy-face photo shoots, draws parallels to Donald Trump, for good reason. He has no idea how to make his schemes real. But, nonetheless, the G7 countries are lining up to do a victory lap for soft-poplulism. You can bet the US and China are eager to get their diplomats (and McKinsey consultants) on their way to Buenos Aires.
Milei’s populist government-bad, feelgood vibes extend beyond economic reform. His positions on social issues are also terrible. His dramatic campaign performances, which included flopping around with a chainsaw to symbolize his planned cuts to government spending, have helped his image as a ‘radical libertarian’, whatever the fuck that is.
He stands firmly against abortion, has openly insulted Pope Francis, downplayed the atrocities of Argentina’s dictatorship, and dismissed the human impact on climate change.
Failure Ahead
The country is riding a wave of anti-establishment sentiment. These emotions powered Milei into office on the promise of dismantling the political class and restoring Argentina’s former glory. Sorry sports fans, there is no such thing as dismantling the political class unless you pull out the Chinese playbook from 1966.
Yet, while his bullshit antics have has won over a majority of voters, they have also deeply polarized the nation. Many Argentines know what is coming and are fearful of the repercussions his policies may have on their rights and the government support upon which millions rely. I guess in the best meme language, the finding out part starts Dec 10th.
Fin. Cut to credits.
