Milei Wins Mandate for Free-Market Revolution in Argentina’s Election

[Betsy Ross]

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.

https://www.wsj.com/world/americas/milei-wins-mandate-for-free-market-revolution-in-argentinas-election-3be65f38?mod=hp_lead_pos1

 

[Wally]

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.

 

[Finance Prof]

All the detailed election votes can be seen here:

https://resultados.elecciones.gob.ar/

 

[Uncle Wong]

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.

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]

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.

 

[ElQueso]

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

 

[VINO]

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

www.zerohedge.com

 

[Bharat]

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

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.

 

[old fart]

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.

 

[Blockchain]

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.

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]

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.

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.