The nation of Argentina here in beautiful South America is just about bankrupt. After years of insane out of control socialist deficit spending the people of Argentina finally had enough of this tax payer fleecing.
So they elected a conservative libertarian capitalist entrepreneur as their president. His name President , considered as South Americas Donald Trump.
His first action was to announce massive spending cuts to get the out of control inflation under control.
The new Economy Minister Luis Caputo stated “there is no more money.” Thus when president Zelensky of Ukraine recently visited Argentina, he was told to put his hands back in his pockets and look for handouts elsewhere.
The Argentinian government has now commenced spending cuts equivalent to 2.9% of its gross domestic product.
The socialists and the communists In Argentina will soon be cut off from their former government handouts and instead will now have to work for a living.
Also, massive cuts to Argentinian energy companies (who are also used to getting free tax payer money) they too will be cut from the handout loop saving another 0.5% of GDP.
Plus, massive tax payer reductions to the government transportation system will be implemented saving another 0.2%, according to the government’s estimates.
Much like Amtrak in the USA that fleece millions of dollars from us tax payers in the USA while providing a crappy service. Time to privatize.
President Milei’s economic advisers also stated they will eliminate half of the government ministries, like the do nothing ministry of education and commerce and labor, cutting tax payer cash transfers to provinces and totally suspending public works.
The International Monetary Fund (IMF) is praising this swift and decisive leadership thus ending the socialist sucking machine draining tax payer money from the citizens wallets of Argentina.
The IMF said – “Their decisive implementation will help stabilize the economy and set the basis for more sustainable and private-sector led growth,”
Inflation is climbing at more than 140% so it’s time to cut off the socialists from their free tax payer spending spree and block the out of control spending insanity for the sake of future generations.
In my opinion and don’t be surprised If President Milei totally scraps Argentines currency altogether, and replaces it with the U.S. dollar.
The Venezuelan Bolivar is also totally worthless after the Chavez/Maduro Communist dictatorship their decimated its economy and they too now only use U.S. dollars.
The United States is following the same inflationary out of control spending path as Venezuela. The President of Argentina saw the same thing happening to his country and has stepped in to make Argentina great again.
In November 2024 Trump will be re-elected and will block the Communist Socialist UniParty from destroying our free market capitalist republic here in North America. No doubt Trump will be making friends very quickly with President Milei.
©2023. Geoff Ross. All rights reserved.