Argentina's Economy Minister Sergio Massa concedes defeat to populist in presidential runoff

[peppertree]

Source: AP

Argentina’s Economy Minister Sergio Massa has conceded defeat to populist Javier Milei in Sunday’s presidential runoff before the country’s electoral authority released official results.

Because the voting is conducted by paper ballots, the timing of the final result is unpredictable.

The highly polarized election will determine whether South America’s second-largest economy will continue with a center-left administration or elect a freshman lawmaker who describes himself as an anarcho-capitalist and has often been compared to former U.S. President Donald Trump.

Read more: https://apnews.com/article/argentina-election-president-milei-massa-a4811c5229d35551f8dbf7056d87aae6

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Argentine presidential candidates Sergio Massa, 51, and Javier Milei, 53, vote in today's presidential runoff in Argentina.

Representing the center-left governing coalition, the pragmatic Massa fell short against a neo-fascist Milei - whose runoff campaign was bolstered by an endorsement from the third-place candidate, Patricia Bullrich.

With 90% of precincts reporting, Milei led by 55.9% to 44.1%.

Milei has pledged to enact shock devaluation - leading to a likely jump in inflation from the current 8% monthly, to 55% monthly per his campaign's own prospectus.

[Voltaire2]

1. Electing a Chaos Clown, always a bad idea.

[peppertree]

4. +1

I give that fiend three or four months - unless he can restrain himself.

But you see, he's owned wholesale by elites who're licking their chops at the idea he'll mega-devalue and crash the economy - such that they could then buy everything worth owning for peanuts.

Some U.S. and European CEOs are no doubt thinking the same thing.

Qué será.

[Escurumbele]

9. They are both VERY, VERY bad, but you are right, the new guy is even worst.

But that is how Democracies fail, the so called Democratic leaders who gain power, some of them are crooks (a lot of them in South America ARE crooks), or they just forget about the people and do not do things to enhance their lives, so when a demagogue comes alone they fall for their rhetoric and promises, and sometimes its even worst, the population comes to the conclusion that the so called Democratic "leaders" are never going to make their lives better, that corruption will continue to go rampant by those in power, so even though they know the demagogue, or "socialist who will turn into a communist/dictator" is up to not good, but guess what, he will also screw those who screwed them, so why not vote for the crazy guy? And of course, there are those who buy the rhetoric thinking that, finally, someone who speaks my language, someone who will take care of me and my family by providing opportunities, so they go and vote for the crazy not knowing that their lives are actually going to get much worst. And that is what MAGAts don't understand either, because the SOB is no different than Kim Jun Un, Putin, and the crazy guy who just won in Argentina.

[progree]

2. CNN on Milei's views

https://www.msn.com/en-us/news/politics/massa-concedes-to-far-right-milei-in-argentina-s-presidential-run-off-vote/ar-AA1kbW7s

His campaign promise to dollarize Argentina, if enacted, is expected to thrust the country into new territory: no country of Argentina’s size has previously turned over the reins of its own monetary policy to Washington decisionmakers.

Milei has also said he would slash government spending by closing Argentina’s ministries of culture, education, and diversity, and by eliminating public subsidies. He is a social conservative with ties to the American right; he opposes abortion rights and has called climate change a “lie of socialism.”

[peppertree]

6. Excellent link

And one of the few that doesn't refer to him as a "libertarian" - which he certainly isn't, for the very reasons you linked to above (to which I'd add, he openly muses with "using troops" on protesters - which he knows his very policies would prompt).

He did brand himself a libertarian early on - which went a long toward fooling a lot of low-information voters (particularly men).

But the effects of this mistake won't take long to appear - tomorrow first thing, in fact: when unofficial dollar exchange rates will likely soar in anticipation of Milei's planned mega-devaluation.

I hope people stocked up down there - because this will inevitably led to sharp price hikes by Wednesday at the latest (as well as shortages).

There could be riots even before Milei takes office.

Thanks again for that great link, progree. Definitely worth a thread in itself.

[progree]

17. Thanks 😊 I'm glad you posted first in LBN. I was thinking of alerting you once I saw the headline

at the MSN site, given how you keep us up-to-date on Argentina, but I saw that you had already posted it to LBN.

[peppertree]

18. You're very thoughtful. Thank you.

I tell you though, your CNN article is much better.

I felt I should use the AP one because of the rules regarding election results on LBN - which are being enforced, as you know.

But I wish I had put that one up instead. The AP link fails to capture most of the drama and implications - both of which there's likely to be quite a lot of in the coming weeks.

Cry for Argentina. Their low-information voters really did them in - plus RW media and courts, which succeed in taking the likely winner, former Pres. Cristina Kirchner, out of contention (much like Brazil's Lula in 2018).

Bolsonaro would be almost a statesman compared to this coked-up psycho though. Like something out of a Rob Zombie film.

Thanks again.

[kimbutgar]

3. Well another country that will go down the tubes and I will never visit

He was exciting compared to the experienced politician and the fools who voted for him have to suffer before they wake up to their mistake voting for this idiot.

[peppertree]

5. Sad but very true

Milei, you see, is wholly owned by elites who're licking their chops at the idea he'll mega-devalue and crash the economy - such that they could then buy everything worth owning for peanuts.

Some U.S. and European CEOs are no doubt thinking the same thing.

I give that fiend three or four months - unless he can restrain himself.

But like Trump, can he at all?

[Skittles]

22. the problem with these stupid asshole voters

is that EVERYONE pays for the fallout

[ificandream]

7. He's a performance politician just like Trump.

[peppertree]

8. And wouldn't you know it, Roger Stone was advising him too.

But that''s not even the worst of it.

Milei, you see, was put up to this by local RW elites who are basically licking their chops at the idea of a mega-devaluation and collapse, to then swoop in and buy everything worth owning at fire-sale prices.

All they needed was enough low-information and disgruntled voters (mostly men), to make it happen for them - and voilà.

I give him three or four months - but not before he orders troops to fire on rioters (something he's openly mused about doing).

Cry a little for Argentina if you would. They'll start feeling the effects of this mistake first thing tomorrow (price hikes, shortages, etc.).

[orangecrush]

10. "Populist"

Nice word for fascist

[peppertree]

11. Exactly. He's anything but.

Milei was put up to this by local RW elites - who are now looking forward to a mega-devaluation and collapse, to then be able to buy everything worth owning for peanuts.

Some in Wall Street and Big Awl are no doubt as well.

I give the fat little bastard three or four months - but sadly, not before he's likely to order troops to fire on protesters (something he and his surrogates openly muses about doing).

And the trouble might start this very week - since the sudden price hikes and shortages won't take long to spread.

Qué será.

[orangecrush]

23. Exactly what Trump wants to do

With the Insurrection act.

[peppertree]

24. No doubt about it

I'm sure he would have during the George Floyd protests - had Gen. Milley not put his foot down.

But as you know, should he get back in next year he - and Tommy Tumbleville - have resolved to make sure there are no such Men of Honor to stand in the way.

Only 3rd-world style goons.

Which, by the way, is the same problem Milei will face, should his policies lead to collapse and riots (a 60/70% chance):

Argentina's brass are not the fascist goons you saw during the last dictatorship in the '70s (most of whom are now under house arrest on federal charges, thanks to the Kirchner administrations): they, like Gen. Milley, are committed to constitutional rule - and abhor the idea of sullying their uniforms with protesters' blood.

So Milei is instead counting on the Gendarmerie (a kind of militarized police) to do the shooting in such an event - given that they were the one force that was never really purged of fascists after democracy returned in '83.

But even they might be loath to go that far - not least because they know that when the dust settles, they'd face charges themselves.

And Milei? He'd be in his Miami condo, smoking Havanos with Cuban exiles and Argentine tax cheats - bitching about "dirty democracy."

Qué será.

[Recursion]

12. If you had asked me a year ago whether a guy who praised Margaret Thatcher

would win Argentina by 12 points, I would have laughed and said no.

[peppertree]

14. But then - people down there don't care about the Falklands like they used to (which is a good thing)

Yes - the British occupied them illegally by force, and installed usurpers.

But Christ: that was 190 years ago - and there's just no hope of their ever relinquishing them, given their strategic value to NATO as a forward base to Antarctica (plus the potential for oil, gas and other resources).

The Chagas Islanders and the Spanish have the same problem with the UK - and it's just as hopeless for them.

It would be far better for anyone and everyone in Argentina to just forget the Falklands - and indeed many have.

Frankly, if that crazy pig Milei formally rescinds Argentina's claim to the Falklands - in the three/four months he'll probably be in power - well, that might end up being his one accomplishment.

If nothing else, it would be one positive change to come of the calamity that most likely awaits them.

[Polybius]

21. Praising Thatcher is nothing

The other things he's said is 1,000 times worse.

[chia]

13. Trump, Boris Johnson, Milei... Keystone Kops, without being funny at all. I'm afraid Argentina doesn't yet know

the price they'll pay for their vote. Reminds me so much of 2016 - they wanted a chaos agent here, too - someone from outside Washington, who wasn't a politician, who would drain the swamp, they wanted to "see what would happen." And thanks to them, we found out.

I'm quite shocked about their use of the Gadsden flag, though. That's very disturbing.

[peppertree]

15. Well said - although real fascists are probably only a third of those who voted for him

Many of the rest voted for him, the way they might've cast a blank ballot in the past: as a mere "anger" vote. This was especially true of low-information men.

But as they're about to discover (and as you pointed out), things can always be worse.

And they most likely will be even before he takes office - given what's likely to be a sharp run-up in unofficial dollar exchange rates and, inevitably, local prices on the heels of these news.

Qué será.

[Polybius]

20. Johnson looks sane compared to this guy and Trump

How was he elected?

[peppertree]

25. It was a combination of corporate backing, and discontent over Fernandez's inability to turn things around

The professorial Fernández - himself elected after Trump's pal Macri bankrupted the country in 2019 - kept the boat from sinking; but couldn't deliver on a real recovery (though GDP did grow over 7%).

Hardly surprising the economy was still weak - given the pandemic, Putin's war (which added $5 billion to the energy import bill), and a record drought last year that cost Argentina $20+ billion in hard currency.

Still, voters were looking for an "anger" vote - and they found it in the Jerry Springer-esque Milei (though he did lose the women's vote).

But despite his shtick, Milei is no populist: He's 100% a creature of elite interests - and since winning, he's reiterated he'll waste no time in imposing shock devaluation and capital flight deregulation.

Which stands to reason - since they're at the top of elites' wish list in Argentina.

All this - to be followed by deep budget cuts (in a country where 77% of the budget is social spending, of one kind or another).

The fact that this will throw the already weak Argentine economy into depression and riots, is almost an afterthought to them. What's more, elites relish the idea of seeing Milei respond with troops and gunfire.

"I'll be watching it all on my 55" flat screen in Miami," some will tell you (after a few drinks).

[ananda]

16. I hate that word "populist." It's so confusing.

He's just another nazi.

[peppertree]

19. Well said - especially in this case, since he's anything but

Milei was basically put up to this by local RW elites - who are now looking forward to a mega-devaluation and collapse, to then snap up everything worth owning for peanuts.

Some in Wall Street and Big Awl are no doubt as well.

I give the little fat bastard three or four months - but sadly, not before he's likely to order troops to fire on protesters (something he and his surrogates openly muse about doing).

If he mega-devalues, the sudden price hikes and shortages won't take long to show up - followed by an economic crash and riots.

No more 6% unemployment, full restaurants - or booked-solid hotels and contractors. It'll be another round of depression and riots if he goes that route.

Qué será.