Argentina has just elected Javier Milei as its new president, and he’s causing quite a stir. The 53-year-old libertarian economist managed to secure a majority in the popular vote, surpassing his opponent Sergio Massa. Milei, who identifies as an anarcho-capitalist, is determined to shake things up and dismantle what he calls the political “caste” that, according to him, has been failing the nation. He’s been quite vocal about his belief that the state “destroys wealth.”
In a recent interview with Tucker Carlson, Milei, an advocate of free-market capitalism, attributed Argentina’s economic challenges to a century of socialist policies. The election, held on Sunday evening, was a decisive run-off after a closely contested initial vote where Massa initially had a narrow lead.
Massa gracefully conceded defeat to Milei even before the final vote tally was announced. He stated, “The results are not what we expected, and I have contacted Javier Milei to congratulate him and wish him luck,” in a media announcement.
Milei has managed to gather support from the bitcoin and crypto community, as he’s been an outspoken advocate for bitcoin, claiming that it “represents the return of money to its original creator, the private sector.”
In addition to his support for cryptocurrencies, Milei is pushing for the concept of “dollarization” and wants to abolish the country’s central bank, suggesting that adopting the dollar could be a remedy for Argentina’s economic troubles. Leading Latin America’s third-largest economy, Milei faces significant challenges, particularly with Argentina’s inflation rate skyrocketing to 121% in October.
Following Milei’s electoral success, social media platforms, especially X, are buzzing with millions of posts about “Argentina” and “Milei.” Meanwhile, major news outlets like the Guardian and the Washington Post are quick to label Milei with terms such as “far right” and draw parallels between him and former U.S. President Donald Trump. Quite the interesting turn of events in Argentine politics!
