https://www.newsweek.com/argentinas-javier-milei-keeps-proving-his-critics-wrong-2095695 Just months ago, Argentina seemed destined for another economic collapse: soaring poverty, runaway inflation and dire warnings from economists that President Javier Milei's radical austerity measures would choke growth. Instead, the economy is expanding at a pace few thought possible — leaving Milei's legions of critics scrambling for explanations.
In a stunning reversal, Argentina's economy posted a 7.6 percent year-over-year growth rate in the second quarter of 2025 — its strongest in nearly two decades — fueled by deregulation, sharp cuts to public spending and the loosening of currency controls. Retail sales, manufacturing and finance all surged, helping consumer spending jump nearly 3 percent from the previous quarter.
Since assuming office in December 2023, the firebrand libertarian economist has slashed government expenditures and secured a $20 billion deal with the International Monetary Fund (IMF). His administration promised to dismantle decades of state intervention in favor of free markets — policies that many observers warned would deepen recession and spark social unrest.
Part of the turnaround has been Milei's dismantling of el cepo, the restrictive system of exchange controls first imposed in 2011 that prevented companies from moving profits abroad and limited Argentines' access to dollars.
After he lifted the restrictions, the peso was allowed to float within a managed band, narrowing the gap between official and black-market exchange rates. Reserves at the central bank climbed to their highest level in two years, bolstered by IMF funds, a $5 billion swap line with China and fresh loans from multilateral banks.
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Anonymous
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Milei also ripped up Argentina's rent-control law in late 2024, removing limits on lease terms and rent increases that had discouraged landlords from renting. Within months, the supply of rental housing in Buenos Aires jumped by 195 percent, according to the city's real estate observatory, and median asking prices fell by about 10 percent as more apartments returned to the market.
Anonymous
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Former IMF official Alejandro Werner acknowledged Milei's fiscal adjustment as "remarkable" but cautioned that its sustainability depends on navigating political risks and avoiding another exchange-rate shock. "The next election might show that he has completed the first phase of consolidating political support for reforms, but the path is risky," Werner said.
Anonymous
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Yet, the government's fiscal overhaul and monetary tightening have come at a steep social cost. Poverty, while down from its December peak of 53 percent, still affects 38 percent of Argentina's population. In April, a general strike paralyzed Buenos Aires as unions protested budget cuts and reduced government transfers.
Anonymous
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External factors also pose serious risks. Global conditions — particularly the policies of Milei's ally, U.S. President Donald Trump — have weakened Argentina's key export markets. Trump's trade war has driven down prices for oil and agricultural commodities, reducing Argentina's export earnings and complicating Milei's effort to build reserves and attract investment.
Anonymous
Java the Milhut
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Argentina is a shit hole. It has always been they should hold since it was founded by Wogs. This is why Mexico is a shit hole too since it was founded by Wogs. Spain is the shithole of Europe and is full of part niggers . The berbers came in and raped the white women. OP will never be a white person. Soon the tainted DNA will show itself again and Argentina will become the shit hole of South America again. This Java guy is a chubby midget.
Berber in the fuel supply
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Argentina is a shit hole and has always been. Mexico is a shit hole too because of the Berber in the woodpile DNA. And I didn't even use the 'N' word.
Anonymous
During the Cold War, Soviet communists reportedly referred to American liberals as “useful idiots.” Although the origin of the quote has been challenged (and attributed to both Lenin and Stalin), it captured many of the adherents of communism after World War II. From higher education to Hollywood, dilettantes on the left embraced Marxism with little real understanding of the philosophy or its implications.
Anonymous
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>>1420000 Like Mamdani, these young voters have no inkling of what life was like under socialist and communist governments. They were not alive when radical shifts to socialism in Great Britain and France destroyed their economies and had to be reversed. They did not see the collapse of the Soviet Union or the move toward capitalism by China to avoid economic meltdowns.
Yet, as Mamdani stated, the radical left has to wait to seize such powers until it has “the same level of support at this very moment.” Unfortunately, socialist programs can produce the very dire conditions that lead to even greater consolidation of state controls and power.
Notably, most of Mamdani’s proposals would violate the Constitution or bankrupt the city. For example, efforts to seize multimillion-dollar luxury condos would constitute unconstitutional takings unless he was prepared to buy the units at their market value — a virtually impossible proposition.
Such considerations are rarely raised, let alone resolved, in radical conferences. Earlier this month, University of Minnesota liberal arts professor Melanie Yazzie joined others for a “teach-in” in which she delighted the audience with calls for the overthrow of the country by “people who come from nations who are under occupation by the United States government.
