Should We Cry For Argentina?

I Guess It Depends How You Look At It.

To borrow some words from fellow ‘stacker Mike Maples (I can highly recommend his newsletter);

“I'm not someone who normally likes to swim in political waters.”

… well at least not to my Substack mailing list, but we live in interesting times, so I decided to don my speedos (gawd - the visual)¹.

Most people in the U.S.A. are probably not exactly watching what is going on down in Argentina. Hell, it is a full time job reading the daily news just for America these days. So ... Argentina? But there are some 45 million people that live in the country and they all very much seem to care. It was this piece from Joshua Hill that triggered my ‘water wading’.

TL;DR
Joshua argues that Javier Milei has provided a blueprint for the authoritarian economic policies that Trump and his allies seek to implement in the U.S. He goes on … Milei's extreme libertarian agenda, massive budget cuts, deregulation, and privatisation prioritises corporate power while dismantling state protections.

However, Argentina's strong labor movement and mass protests have successfully pushed back against Milei's most extreme measures, offering a model for organised resistance. The article emphasises that opposition must go beyond spontaneous protests, advocating for sustained labor organising and grassroots activism to counteract the erosion of democracy and social protections in both Argentina and the U.S.A.

Reading the piece reminded me of another newsletter from a couple of months ago by the very same Mike Maples that I opened with .. Javier Milei: Argentina’s Pattern Breaker.

TL;DR
Mike in turn presents Javier Milei as a transformative leader and 'pattern breaker' - arguing that his rapid and radical economic reforms have begun to stabilise Argentina's struggling economy. He highlights Milei's 'bold libertarian approach’ like deregulating markets, cutting government bureaucracy, and reducing inflation and emphasising his use of social media and data-driven governance to bypass traditional political structures.

Despite achieving fiscal surpluses and inflation control, his policies have come at a steep human cost, with rising poverty and economic contraction creating significant social unrest. While acknowledging the challenges and criticisms of Milei's approach, the article ultimately frames him as a visionary leader demonstrating the power of first-principles thinking, challenging conventional wisdom, and pushing the limits of political and economic transformation.

Last time I looked, there was only one Argentina² - so Joshua and Mike are clearly writing about the same country, the same news and even have similar conclusions. It’s just that one writer seems to be more accepting of the methods and short term cost than the other.

Joni’s words ring in my head.

I've looked at life from both sides now
From win and lose and still somehow
It's life's illusions I recall
I really don't know life at all

Joni Mitchell

I have my views, but rather than adding my own inevitable slant I decided that comparing and contrasting the two positions was going to be best done by a ‘completely neutral’ referee. So I asked Perplexity to review both articles and then answer the question … “Is the President of Argentina, Javier Milei, a force for good or bad in Argentina.”

The Full Answer is here - and concludes;

Milei’s policies have stabilised Argentina’s macroeconomy, but the human cost of recession and inequality complicates his legacy. While inflation control and fiscal discipline mark technical successes, their benefits remain unevenly distributed.

The long-term verdict depends on whether growth projections for 2025 materialize and alleviate widespread hardship. For now, Milei represents a polarizing force: a catalyst for structural reform yet an amplifier of short-term inequality.

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Full disclosure, compared to the many experts that you could read on this topic, you are reading this - the words of an amateur. In turn I am referencing two other writers who are also not experts on this topic. But my idea is not to persuade you one way or the other on the state of Argentina. Instead I chose the words of two people that I like and appreciate and clearly sit in different corners on this issue, and I do not plan to cutting either of them out of my ‘voices I listen to’.

I do think it is the case that - as Joshua wrote - there are parallels to the current situation in the U.S.A. and so, rather than throwing in the towel …

Enter a third ‘stacker - Qasim Rashid - another writer I enjoy who recently published a list of things that you (whoever you are) can do - now - should you want to affect change.

1. Government Employees - Use All Legal Means At Your Disposal

2. Politicians in Power - Do Something More Than Tweet Your Outrage

3. Everyone - Activate

4. Everyone - Communicate

5. Everyone - Invest

6. Everyone - Educate

7. Everyone - Organise

Me? I’m trying. Are you?

If you aren’t ready for a subscription and want a more modest way of financially supporting me, I do enjoy a good cup of coffee - and I just switched on ‘Buy Me A Coffee’ …

Don't cry for me, Argentina
The truth is, I never left you
All through my wild days, my mad existence
I kept my promise
Don't keep your distance
Have I said too much?
There's nothing more I can think of to say to you
But all you have to do is look at me to know
That every word is true

Tim Rice

1. “For clarity, those extra words are mine … not Mike’s. 😎

2. But with maps these days you really might never know! 😉