patrick.net

https://notthebee.com/article/javier-milei-announces-argentinas-first-budget-surplus-in-123-years

Javier Milei announces Argentina's first budget surplus in 123 years

"The deficit was the root of all our evils -- without it, there's no debt, no emission, no inflation. Today, we have a sustained fiscal surplus, free of default, for the first time in 123 years. This historic achievement came from the greatest adjustment in history and reducing monetary emission to zero. A year ago, a degenerate printed 13% of GDP to win an election, fueling inflation. Today, monetary emission is a thing of the past."

Next step: use 0.9999 pure silver by weight as currency.

Not "dollars" or "pesos" or any other bullshit units that can be redefined to debase the currency and defraud the people yet again.

Weight alone.

Patrick says

Javier Milei announces Argentina's first budget surplus in 123 years

"The deficit was the root of all our evils -- without it, there's no debt, no emission, no inflation. Today, we have a sustained fiscal surplus, free of default, for the first time in 123 years. This historic achievement came from the greatest adjustment in history and reducing monetary emission to zero. A year ago, a degenerate printed 13% of GDP to win an election, fueling inflation. Today, monetary emission is a thing of the past."

Yeah. Hyperinflation helps with that. The national debt has already been hyperinflated away. You just have to stop printing money and stop spending deficits. Viola!

https://www.econotimes.com/avier-Mileis-Tax-Revolution-Argentine-President-Eliminates-90-of-Taxes-in-Unprecedented-Economic-Shake-Up-1696611

Note: 'taxes' and 'taxation' are two different things, numerically.

What's the difference?

Patrick says

What's the difference?

Eliminating some taxes does not necessarily equate to reducing 'national taxation' levels.

In this case a bunch of special taxes that don't collect much revenue, cost too much to enforce relative to revenue collected, etc.

The bigger taxes (by revenue collected) like income and VAT aren't being dropped. Revenues from those might even increase because these other taxes probably reduce taxable economic activities with those, like the Export Tax.

"Under the proposed reforms, the number of national taxes will drop from 167 to fewer than 20, focusing primarily on value-added tax (VAT) and income tax. The plan also includes the elimination of export taxes, which Milei described as detrimental to Argentina's agricultural sector—a critical component of the country’s economy."

John Stossel tips his hat to Milei:



https://x.com/JohnStossel/status/1869433973123785195

The Libertarian National Leader Libertarians have been hoping for since the 1970s...

... and a quarter of them hate his guts despite what he does...

.... because he doesn't like Hans Herman-Hoppe.

Maga_Chaos_Monkey says

That's the problem.

No hoarding of silver, please!

Those with wealth are free to turn in their metal for paper, but not to pay wages in paper.

Hey, they're always saying the paper has nothing wrong with it, as good as the Real Thing, so let them keep it!

The working classes can be burdened by the metal while the well off enjoy their convenient paper representations.

Hoppe is jealy



Those who can, do.
Those who can't, get chairs at public universities, retire, then gripe about those who can do.

DOGEWontAmountToShit says

Noooooooooo!

I wouldn't put it past Argentinians to go back to some Commie cunt next election cycle. Just like Brazilians ditched Bolsonaro for old crusty Red Lula.

Eric Holder says

I wouldn't put it past Argentinians to go back to some Commie cunt next election cycle. Just like Brazilians ditched Bolsonaro for old crusty Red Lula.

I happen to spoke to coworkers from Argentina about Milei, to my surprise they (females) do not seems to like him for some reason!

Blue says

Eric Holder says

I wouldn't put it past Argentinians to go back to some Commie cunt next election cycle. Just like Brazilians ditched Bolsonaro for old crusty Red Lula.

I happen to spoke to coworkers from Argentina about Milei, to my surprise they (females) do not seems to like him for some reason!

Because they most likely side with leftists' fake feminism.

Eric Holder says

Brazilians ditched Bolsonaro

I think the election was stolen from Bolsonaro.

https://danieljmitchell.wordpress.com/2025/01/09/left-wing-economists-were-wildly-wrong-about-javier-milei-and-his-libertarian-agenda-for-argentina/

Nooooooo!

Argentina now has a budget surplus.

Booger says

Argentina now has a budget surplus.

So that means they won't need any more money from the IMF ??? -- giggles to self

Trump has been stealing Milei's thunder already.

Milei showed the way - eliminate 60% corruption, to find that the government only needs 25% to function.

So, with a budget surplus, inflation under control and reduced government spending....what does he really want ?????

Why more free money from the IMF. Just what I've been saying all along.

Does anyone think for a second that this new batch of free money will have any greater chance of being repaid than the older bunches of free money bestowed upon Argentina????

https://www.msn.com/en-us/money/companies/in-address-to-congress-argentine-president-milei-promises-imf-deal-and-lauds-economic-wins/ar-AA1A4nJd

Misc says

Does anyone think for a second that this new batch of free money will have any greater chance of being repaid than the older bunches of free money bestowed upon Argentina????

I'd rather spend money in this hemisphere and not Ukraine, that's for sure. We should be a shit show of power in the real West. Argentina is part of that. Central America should be booming and it barely is. I don't care about a bunch of drunks in Eurasia.

Venezuela is the hard part. Having hung out with the guy for an hour and being one of my favorite baseball players, Ozzie Guillen needs to get into Venezuelan politics. He's Trump like. My wife was throwing popcorn at him. It was his birthday and he got his US citizenship that day. It was him, his son and the two of us. Really good people.

He's a fuck it and let's get it done guy. I do think he'd be worried about being assassinated so probably wouldn't do it. He's your typical politician age though at 61. Far fetched, but I do think he would be good for the country and he's still proud of his heritage. We need some of these legal and illegals to go back and fix the damn messes others made.

Misc says

So, with a budget surplus, inflation under control and reduced government spending....what does he really want ?????

Why more free money from the IMF. Just what I've been saying all along.

Does anyone think for a second that this new batch of free money will have any greater chance of being repaid than the older bunches of free money bestowed upon Argentina????

https://www.msn.com/en-us/money/companies/in-address-to-congress-argentine-president-milei-promises-imf-deal-and-lauds-economic-wins/ar-AA1A4nJd

Argentina doesn't have a SWAP line with the Fed like Brazil does. I think getting one is Milei's goal. Until then, IMF financing for USD liquidity is needed just as it is for other most other nations.

OkDOGEisAmountingToSomething says

Argentina doesn't have a SWAP line with the Fed like Brazil does. I think getting one is Milei's goal. Until then, IMF financing for USD liquidity is needed just as it is for other most other nations.

No, most other nations do not have IMF backed loans. Argentina is the largest borrower of IMF funds at about $44 billion.

Milei is now trying to extend out the period where Argentina doesn't have those pesky repayments for 4 and a half years (Everyone knows that he will simply try to extend this non-payment period once it gets close to actually having to send BACK funds to the IMF).

Also, he is trying to get an additional $20 billion from the IMF. He is simply the latest clown from Argentina with a story of righting the country.

The best one was able to talk Wall Street banks into selling 100 year bonds to their American clients. Milei has a ways to go to beat that guy.

https://www.msn.com/en-us/money/markets/argentina-pushes-new-imf-deal-towards-finish-line-with-decree/ar-AA1AGFrp

Misc says

No, most other nations do not have IMF backed loans

They borrow from SOMEONE.

DeportLibtards says

Misc says

No, most other nations do not have IMF backed loans

They borrow from SOMEONE.

He should impose big beautiful tariffs instead and get the money he needs without borrowing. 🤡

WTF ! ! ! ! ! ! ! !

As a way to decrease corruption and frivolous government spending the Trump administration has gone ahead and approved the $20 billion in new IMF funding for Argentina. Even though that country has both the most numerous number of loans and total amount of loans outstanding from the IMF.

Additionally, the World Bank (US is also the #1 contributor there) has approved a new $12 billion loan package for Argentina.

Some Regional banking authority is gonna pony up a few additional billions.

Oh, and Argentina just signed a $5 billion swap line with the CCP.

What could possibly go wrong this time ?????

Betcha they're gonna use part of this newfound borrowing as collateral for borrowing from private banks and/or stupid American investors again.

Suddenly Bitcoin is looking like a viable investment.

https://finance.yahoo.com/news/world-bank-announce-12-billion-224139412.html