Argentina's Blow Out Sale

Melee on the people of the land.

Dec 26, 2023

It kinda tickles me, in a twisted way when I am right. All roads seem to overlap. As a student of history, I have come to believe that most incidents that appear separate, are in fact related in the most obscure of ways. Six degrees of separation or even less.

Most people have a compartmentalized view, a line view, a boundary view of almost everything, from geography, to time, and it is actually an impediment. How so? It does not allow a clear view. For example most people view the states united as a geographical map with lines. Texas, Louisiana, Alabama, Mississippi, Georgia, Florida, Carolinas, Virginia, Illinois, Michingan, New York, New England, etc.

What was it before that, and before that? Who lived there? The view now looks different. One is now able to see the Messianic colonization with absolute clarity.

It is the same with time and events. Each war, election, geopolitical event, disaster, and generation is viewed as a separate thing. I believe they are not, and when viewed as an ongoing event, “history” takes on a whole new “ugly” lens, specifically when it appear the same ‘ole usual suspects keep showing up. “The Messianic Grifters.”

What does the “ugly lens” show? Grifts, scams, treachery, skulduggery, inter alia, land theft, obreption, estate theft, and politicians realm wide who promise the world for “consent to rule,” VOTES, and give absolutely nothing, zero, nada, zilch back except more promises and bull crap. The condition of the society bears witness to this fact. The quadrillions generated on this land, were wasted by spendthrifts, as is the reality this day.

Always a “new plan,” a new deal, a green new deal, a old “black” deal, all and sundry, Bulls**t, yet the disciples of television just lap it up, decade after decade, and not just in the states united, in foreign lands too. One such land is Argentina. The name of the grifter is pronounced, “MELEE,” I believe. Or maybe, “Me-Lie,” take your pick because it doesn’t matter the results are gonna be the same. In street vernacular it would be said, “The people of the land of Argentina “ARE GONNA CATCH THAT WORK,” meaning they are gonna get smashed economically and possibly otherwise.

“The term “melee” originates in the 1640s from the French word “mêlée,” which refers to disorganized hand-to-hand combat, a close-quarters battle, a brawl, or a confused fight; especially involving many combatants.” Ominous indeed for the economy and people. Asylum USA has a disciple. You heard?

“Milei is known for his flamboyant personality, distinctive personal style, and strong media presence. He has been described politically as a right-wing libertarian and right-wing populist, and supports laissez-faire economics, aligning specifically with minarchist and anarcho-capitalist principles. Milei has proposed a comprehensive overhaul of the country's fiscal and structural policies. He supports freedom of choice on drug policy, guns, prostitution, same-sex marriage, sexual preference, and gender identity, while opposing abortion and euthanasia. In foreign policy, he advocates closer relations with the United States, supporting Ukraine in response to Russia's invasion, and distancing Argentina from geopolitical ties with China.”

https://en.wikipedia.org/wiki/Javier_Milei

“Over the past two weeks, the owner of a hip wine bar in Buenos Aires saw the price of beef soar 73 percent, while the zucchini he puts in salads rose 140 percent. An Uber driver paid 60 percent more to fill her tank. And a father said he spent twice as much on diapers for his toddler than he did last month.”

“In Argentina, a country synonymous with galloping inflation, people are used to paying more for just about everything. But under the country’s new president, life is quickly becoming even more painful.

When Javier Milei was elected president on Nov. 19, the country was already suffering under the world’s third-highest rate of inflation, with prices up 160 percent from a year before. But since Mr. Milei took office on Dec. 10 and quickly devalued the Argentine currency, prices have soared at such a dizzying pace that many in this South American country of 46 million are running new calculations on how their businesses or households can survive the far deeper economic crunch the country is already enduring.”

“Since Milei won, we’ve been worried all the time,” said Fernando González Galli, 36, a high school philosophy teacher in Buenos Aires.

Mr. Galli has been trying to cut back without making life worse for his two daughters, who are 6 years and 18 months old, including switching to a cheaper brand of diapers and racing to spend his Argentine pesos before their value disintegrates even further. “As soon as I get my paycheck, I go buy everything I can,” he said.

Nahuel Carbajo, 37, an owner of Naranjo Bar, a trendy Buenos Aires wine bar, said that like most Argentines, he had become accustomed to regular price increases, but this past week went far beyond what even he was used to.”

“Since Mr. Milei won, the price for the premium steak that Mr. Carbajo serves soared 73 percent, to 14,580 pesos, or roughly $18, per kilogram, about 2.2 pounds; a five-kilogram box of zucchinis rose to 15,600 pesos from 6,500; and avocados cost 51 percent more than the beginning of this month. “There’s no way for salaries or people’s incomes to adapt at that speed,” Mr. Carbajo said. Mr. Milei’s spokesman, Manuel Adorni, said accelerating inflation was the inevitable consequence of finally fixing Argentina’s distorted economy.”

“We’ve been left with a multitude of problems and unresolved issues that we have to start addressing,” he said. “Inevitably, we will go through months of high inflation.” Mr. Milei has warned Argentines that his plans to shrink the government and remake the economy would hurt at first. “I prefer to tell you the uncomfortable truth rather than a comfortable lie,” he said in his inaugural address, adding this past week that he wanted to end the country’s “model of decline.”

“Argentina’s economy has been mired in crisis for years, with chronic inflation, rising poverty and a currency that has plunged in value. The economic turmoil paved the way to the presidency for Mr. Milei, a political outsider who had spent years as an economist and television pundit railing against what he called corrupt politicians who had destroyed the economy, often for personal gain. During the campaign, he vowed to take a chain saw to public spending and regulations, even wielding an actual chain saw at rallies. After Mr. Milei’s victory, price increases began accelerating in expectation of his new policies. The previous leftist government had used complicated currency controls, consumer subsidies and other measures to inflate the peso’s official value and keep several key prices artificially low, including gas, transportation and electricity.”

“Mr. Milei vowed to undo all that, and he has wasted little time.

Two days after taking office, Mr. Milei began cutting government spending, including consumer subsidies. He also devalued the peso by 54 percent, putting the government’s exchange rate much closer to the market’s valuation of the peso. Economists said such measures were necessary to fix Argentina’s long-term financial problems. But they also brought short-term pain in the form of even faster inflation. Some analysts questioned the lack of adequate safety nets for the poorest Argentines.”

“In November, prices rose 13 percent from October, according to government data. Analysts predict prices will increase another 25 percent to 30 percent this month. And from now until February, some economists are forecasting an 80 percent jump, according to Santiago Manoukian, the chief economist at Ecolatina, an economics consulting firm. The forecasts are partly caused by soaring gas prices, which increased 60 percent from Dec. 7 to Dec. 13, and have a trickle-down effect on the economy.”

“The currency devaluation made imported products like coffee, electronic devices and gas immediately more expensive because they are priced in U.S. dollars. A monthly Netflix subscription in Argentina jumped 60 percent to 6,676 pesos, or $8.30, the day after the devaluation, for example. It also prompted some domestic producers, including farmers and cattle ranchers, to increase prices to align them with their own rising costs. With the chronic high inflation, labor unions often negotiate large raises to try to keep up, yet those wage increases are quickly eaten up by sharp price hikes. Informal workers, a list that includes nannies and street vendors, and who make up nearly half of the economy, also do not get such raises.”

“On Wednesday, Mr. Milei launched his next big steps to remake the government and economy with an emergency decree that significantly reduces the state’s role in the economy and eliminates a raft of regulations. The measure prohibits the state from regulating the rental real estate market and setting limits on fees that banks and health insurers can charge customers; changes labor laws to make it easier to fire workers while also placing limits on strikes; and turns state companies into corporations so they can be privatized.”

“Many legal analysts immediately questioned the decree’s constitutionality, saying that Mr. Milei was trying to subvert Congress. After the speech, people across Buenos Aires, like Jesusa Orfelia Peralta, 73, a retiree, took to the streets banging on pots to show their displeasure. She worried that price increases would make proper health care too expensive for her and her husband. Despite severe spinal problems, she said she did not hesitate to head out, using a walker, and vent her anger in public. “Where else would I be?” she said.”

“Mr. Milei has sought to discourage protests by threatening to cancel welfare plans and fine anyone involved in demonstrations that block roads. Human rights groups have widely criticized such policies as restricting the right to peacefully protest. For now, most Argentines are trying to figure out how to make ends meet in what often feels like both a complicated course in economics and a frenzied sprint to buy before prices rise again. “I always say that we are at university, and every day we sit for a difficult exam, every five minutes,” Roberto Nicolás Ormeño, an owner of El Gauchito, a small empanada shop in downtown Buenos Aires. Mr. Ormeño said he had been scouring the market for his ingredients and changing suppliers almost every week, either because they increase prices too much or provide poorer quality products. He is trying to avoid passing along too much of his price increases to customers, though he is unsure how long he can sustain that. “I see my frequent customers buying one dozen instead of two” dozen empanadas, he said. Marisol del Valle Cardozo, who has a 3-year-old daughter, has been cutting back in a bid to make ends meet, turning to cheaper brands and going out less. “We don’t turn the air-conditioning on as much,” she said. “We decreased our plans on weekends from four times a month to just once.”

“Ms. Cardozo, who works for a police department outside Buenos Aires, said that she got a raise this year, but that it is already not enough. She also drives an Uber, but said that fare increases had not kept up with the soaring gas prices. Despite the challenges, Ms. Cardozo said she remained a Milei supporter and was hoping his policies work. “We were living under a fantasy,” she said, referring to gas prices before the recent hike. “If these adjustments are necessary to thrive in the end, they’re worth it.”

https://www.nytimes.com/2023/12/23/world/americas/argentina-economy-inflation-javier-milei.html

“Javier Milei’s incoming administration is shaping up to be one of the most pro-Israel governments in Argentina’s history, at a time other Latin American nations have spoken out against Prime Minister Benjamin Netanyahu’s strategy to eradicate Hamas. A week after winning the Nov. 19 runoff election, Milei arrived in New York on Monday morning for his first trip abroad as president-elect and headed straight to the tomb of a famous orthodox Jewish rabbi in Queens. Donning a kippah and all black outfit, he visited Menachem Mendel Schneerson’s grave to pay respects.”

https://www.bloomberg.com/news/articles/2023-11-27/milei-s-conversion-to-judaism-seals-pro-israel-push-by-argentina

“NEW YORK, November 28. /TASS/. Argentina’s President-Elect Javier Milei has decided to convert from Catholicism to Judaism, Bloomberg reported, citing a source close to the politician. According to the source, the Argentinian leader took part in a Judaic worship service in the country’s capital of Buenos Aires on November 25, where he received blessings from a rabbi. According to Bloomberg, upon arrival in New York on November 27, Milei donned "a kippah and all black outfit" to visit the grave of famous orthodox Jewish rabbi Menachem Mendel Schneerson. "The symbolic gesture illustrates how committed the incoming leader is to deepening Argentina’s cultural and political ties with Israel," the news agency said. Bloomberg noted that Milei has on a number of occasions announced plans to visit Israel and move the country’s embassy from Tel Aviv to Jerusalem.”

“Argentina held its presidential runoff on November 19. Milei, a libertarian nominated by the Avanza Libertad (or Freedom Advances) right-wing coalition, defeated Economy Minister Sergio Massa. Milei has repeatedly said that he has no intention of boosting relations with Brazil, China and Russia as he does not agree with their policies. However, he also claims that he will not prevent private companies from doing business with these countries. Milei views Israel and the US as Argentina’s priority allies.”

https://tass.com/world/1712981

Now let's condense:

“...Javier Milei was elected president on Nov. 19, the country was already suffering under the world’s third-highest rate of inflation, with prices up 160 percent from a year before. But since Mr. Milei took office on Dec. 10 and quickly devalued the Argentine currency, prices have soared at such a dizzying pace that many in this South American country of 46 million are running new calculations on how their businesses or households can survive the far deeper economic crunch the country is already enduring.”

“Argentina’s President-Elect Javier Milei has decided to convert from Catholicism to Judaism, Bloomberg reported, citing a source close to the politician. According to the source, the Argentinian leader took part in a Judaic worship service in the country’s capital of Buenos Aires on November 25, where he received blessings from a rabbi. According to Bloomberg, upon arrival in New York on November 27, Milei donned "a kippah and all black outfit" to visit the grave of famous orthodox Jewish rabbi Menachem Mendel Schneerson. "The symbolic gesture illustrates how committed the incoming leader is to deepening Argentina’s cultural and political ties with Israel," the news agency said. Bloomberg noted that Milei has on a number of occasions announced plans to visit Israel and move the country’s embassy from Tel Aviv to Jerusalem.”

Argentina is getting the “Wall Street Melee,” where greed is good. The country is not being looted, pillaged and plundered, “it's being liberated.” It’s a blow out sale.