Betsy Ross
Well-known member
LLA did very well today. In the end it is good to see people understand there is no turning back and going back to Peronism.
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Milei Wins Mandate for Free-Market Revolution in Argentina’s Election
- Thread starter Betsy Ross
- Start date
Wally
Well-known member
The results were very good For Milei. Maybe now they can actually get some legislation passed.
LLA won 44 deputies.Peronism won 0 deputies. Libertad Avanza won 12 senators. Peronism LOST 6 senators. It was a big defeat for Peronismo. I honestly thought it would be closer judging by all the complaints but wife's entire family all voted for LLA today.
LLA won 44 deputies.Peronism won 0 deputies. Libertad Avanza won 12 senators. Peronism LOST 6 senators. It was a big defeat for Peronismo. I honestly thought it would be closer judging by all the complaints but wife's entire family all voted for LLA today.
Finance Prof
Well-known member
Uncle Wong
Well-known member
Seems like good news for the country to finish out trying to see if this works. With the backing of the US with the billions this support should continue now that LLA won.
I read online this was considered a landslide.
I read online this was considered a landslide.
Argentina 2025 midterms: LLA gets landslide win, reaches key number of Congress seats - Buenos Aires Herald
The ruling party got almost 41% of the vote and will have a third of the lower house, a crucial threshold to block opposition bills and back presidential decrees
buenosairesherald.com
Blockchain
Well-known member
So much for my cheaper trip next month. I would guess the exchange rate tomorrow will cause the peso to go up. I guess BA won't be as cheap as I thought. I was getting excited seeing the exchange rate go over 1500.
It was a great victory but from what I read LLA is now at 93. PRO has 14 and UP has 17 which only totals 124. I believe 129 is required for a quorum. Still great but still a few short of quorum.
LLA 93+ PRO 14+ United Provinces 17Total = 124129 are required for a quorum. But that quorum has become substantially cheaper now. Very bullish
LLA 93+ PRO 14+ United Provinces 17Total = 124129 are required for a quorum. But that quorum has become substantially cheaper now. Very bullish
VINO
Well-known member
Just as things were getting a bit less expensive prices just went up overnight. Trump will end up making some money on Argentina.
www.zerohedge.com
Argentine Markets Soar After President Javier Milei's Midterm Victory; Milei Thanks President Trump<!-- --> | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Things were getting good with the exchange rate for blue dollar. Now this. But it seems like the dollar always comes back over long term in Argentina. I do not know how US help will affect things but probably will keep peso strong.Just as things were getting a bit less expensive prices just went up overnight. Trump will end up making some money on Argentina.
Argentine Markets Soar After President Javier Milei's Midterm Victory; Milei Thanks President Trump<!-- --> | ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
old fart
Active member
All in all when you think about it the dollar didn't do bad at all considering the big win. There was a huge run up before the election and not much was given back today. Wildcard factor is the US swap but even Trump I think is calling for a free floating Argentina peso. I would have to think it will go back up. Even Caputo said he was more than happy with it trading at 1500 to $1.
Hard to tell what will happen but those that bought dollars that I know just told me to wait.
Hard to tell what will happen but those that bought dollars that I know just told me to wait.
Blockchain
Well-known member
Maybe I was wrong but I thought that they were just trying to get Milei through with the elections without the peso falling apart. Will they use all of this $40 Billion trying to maintain an artificially high peso? What good is that long term? It seems like they would easily blow through all of this. Milei is going to be up for re-election in 2 years. I would think he would want to free float the exchange rate well ahead of the 2027 election.
Finance Prof
Well-known member
Actually in the long run too strong of a peso isn't a benefit with trade. Been in Argentina a while and things can change. Granted we have not had someone like Milei but consider that back in October 2017 Macri also crushed it win the mid-terms and then 6 months later the peso totally collapsed. Macri ended his term as a failure owning the IMF $40 Billion which Argentina is still struggling with.
6 months in Argentina is a lifetime in other countries with the roller coaster atmosphere.
MikeRoss
Well-known member
This government really has no excuse for shooting themselves in the foot. I watched the news today and they were talking about how Milei will get some good luck and then just shoot himself in the foot. They are a few years in now and can't make stupid mistakes with scandals or stupid mistakes. They won the mid-term elections, they are getting governors that are voting how they want, Trump is doing anything he and Bessent can to help Argentina. More money is flowing each month helping Argentina.
Why in the world they would make stupid mistakes playing around with fudging inflation numbers is crazy.
Why in the world they would make stupid mistakes playing around with fudging inflation numbers is crazy.
But they are shooting themselves in the foot. Almost every business owner I talk to in Argentina tells me that things aren't going too well for them. Of course the manufacturing sector isn't going to like this administration but people in many industries are starting to signal things going sideways. The good thing in Argentina is if you wait long enough things will change again.
Very true. You know when they start going to the Kirchner playbook things are not going as planned. 🤣
"The decision to maintain an outdated CPI brings to mind the crude manipulation that Kirchnerism carried out of official statistics. Between 2007 and 2015, the absence of credible data on inflation and poverty caused a statistical blackout that tried to be replaced by unofficial figures and was subsequently condemned by the Justice."
Renuncia el jefe de estadísticas de Argentina por las trabas de Milei a un nuevo formato para medir la inflación
Marco Lavagna deja la dirección del Indec tras seis años
The problem I see is that guys like Milei and Caputo are losing touch with regular people. Looking back the same thing happened to Macri. They are just part of the caste. My friends told me 2 years ago but this time was different. Then I see them doing the same things. Stealing, lying, getting caught. They are just so out of touch.
I get that Caputo wanted to make the point that local manufacturers are overpriced but he doesn't do well in interviews. I wonder why they just don't stay out of interviews. Digging their own graves.
I get that Caputo wanted to make the point that local manufacturers are overpriced but he doesn't do well in interviews. I wonder why they just don't stay out of interviews. Digging their own graves.
VINO
Well-known member
I agree they have to get costs down but I agree with you @MikeYoung they are all terrible on interviews.
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