Olivier Kessler argues that the West may be experiencing a turning point, as increasing discontent with state overreach and interventionism emerges. He highlights Argentina's recent shift under Javier Milei, who advocates for deregulation and reduced government, as a potential model for Western nations seeking to reclaim individual freedoms and economic prosperity.
Signs of a potential turning point are emerging in the West, as leaders like Elon Musk and Vivek Ramaswamy propose significant government spending cuts, and Argentina's Javier Milei implements a successful deregulation agenda. The collapse of Germany's eco-socialist government and Liechtenstein's media reforms suggest a shift away from overregulation and state intervention. Increasingly, people are recognizing the need to abandon the failed policies of the past in favor of individual freedom and economic prosperity.
Ethereum founder Vitalik Buterin has praised the Argentine peso's stability, noting its exchange rate against the U.S. dollar remains unchanged from a year ago. He commended President Milei for reversing the currency's trajectory from hyperinflation and highlighted the recent decrease in inflation rates. Additionally, Milei has announced plans for a currency competition scheme allowing the use of bitcoin for transactions.
Argentina's President Javier Milei has dismissed the head of the tax authority, Florencia Mizrahi, following backlash over a controversial tax targeting streamers and influencers. The new tax regime required digital content creators to report income from platforms like YouTube and Instagram. Milei's administration emphasized a commitment to not attack digital businesses and aims for a simplified tax system, while also pursuing deep economic reforms amid ongoing inflation challenges.
Argentina's central bank has reduced its benchmark interest rate by 300 basis points to 32%, effective December 6. This decision reflects a consolidation in inflation expectations, as stated in the bank's announcement.
The International Monetary Fund's internal watchdog has criticized the organization's approach to granting large loans to distressed countries like Argentina and Egypt. An evaluation covering two decades of lending under the Exceptional Access Policy has led to a set of recommendations, with discussions scheduled for the executive board meeting on Thursday.
Argentine investors are increasingly opting for longer-duration peso savings and investments, reflecting growing confidence in President Javier Milei's ability to tackle inflation and stabilize the exchange rate. This shift is evident as traders seek longer maturities in fixed-rate peso bonds and deposit savings for extended periods, anticipating lower interest rates.
Investors are increasingly confident in Argentine President Javier Milei, continuing to invest in the country"s stocks and bonds as they reach record highs. This optimism is fueled by expectations that his austerity measures will yield further financial benefits.
Argentina's credit rating has been upgraded by Fitch Ratings from CC to CCC, reflecting expectations that the government will meet its upcoming hard-currency bond payments. This rating remains eight notches below investment grade and is now aligned with Bolivia.
Inflation in Argentina slowed to 2.7% in October, marking the lowest rate in three years and surprising economists who had anticipated a 3% increase. Annual inflation fell to 193%, dipping below 200% for the first time since President Javier Milei took office, highlighting his focus on controlling inflation.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
