Is the Milei "Transformation" Failing Already?

[dlish]

Argentines put US$2.3 billion into banks, signalling faith in Milei

If the trend continues, it would be good news for Argentina’s Central Bank, where a portion of savers’ dollar deposits count toward the foreign reserves needed to stabilise the peso.

www.batimes.com.ar

A good sign perhaps........

If it’s true. Which it probably isn’t. “Central Bank data”

 

[dlish]

Drudge reporting today on Milei’s social media habits: https://www.yahoo.com/news/argentinas-troll-president-milei-takes-012820845.html

I lived in the US during the Trump presidency and this is pure deja vu. I’ve seen this movie before…

 

[sts7049]

If it’s true. Which it probably isn’t. “Central Bank data”

how did you feel about data in previous govts?

 

[Musicman]

Macri: What I have seen so far is that we have a well-intentioned, honest president, with a very clear vision – for me a brilliant vision – of where he wants to go, who is capable of defending it with great courage," said the former head of state. The former president said supporting Milei’s reform plan would be key for Argentina’s future.

I hope Macri is sincere here and their collaboration works out good for Milei for Argentina the country

Macri praises ‘honest’ and ‘well-intentioned’ Milei

Horacio Rodríguez Larreta voices opposition to ‘co-government’ or ‘merger’ between PRO and La Libertad Avanza, criticises party colleague Patricia Bullrich's decision to join Javier Milei's government.

www.batimes.com.ar

 

[FrankPintor]

Macri: What I have seen so far is that we have a well-intentioned, honest president, with a very clear vision – for me a brilliant vision – of where he wants to go, who is capable of defending it with great courage," said the former head of state. The former president said supporting Milei’s reform plan would be key for Argentina’s future.

I hope Macri is sincere here and their collaboration works out good for Milei for Argentina the country

Macri praises ‘honest’ and ‘well-intentioned’ Milei

Horacio Rodríguez Larreta voices opposition to ‘co-government’ or ‘merger’ between PRO and La Libertad Avanza, criticises party colleague Patricia Bullrich's decision to join Javier Milei's government.

www.batimes.com.ar

To be charitable, I suppose I should consider that you're perhaps unintentionally being funny.

 

[Musicman]

A vote of confidence for Milei as executives from Italian energy giant Enel SpA applaud Milei’s policies and confirmed it’s suspended the sale of subsidiary power distributor Edesur in Argentina because they believe in Milei’s push to deregulate the sector. Good News!

Enel suspends sale of Edesur amid Milei optimism

Enel becomes the first major multinational to pivot its strategy in Argentina based principally on Milei’s shock therapy economic plan.

www.batimes.com.ar

 

[mikic007]

A vote of confidence for Milei as executives from Italian energy giant Enel SpA applaud Milei’s policies and confirmed it’s suspended the sale of subsidiary power distributor Edesur in Argentina because they believe in Milei’s push to deregulate the sector. Good News!

Enel suspends sale of Edesur amid Milei optimism

Enel becomes the first major multinational to pivot its strategy in Argentina based principally on Milei’s shock therapy economic plan.

www.batimes.com.ar

Is it? The company is already making nice profit, while services are lacking. How much is enough?

 

[Musicman]

Is it? The company is already making nice profit, while services are lacking. How much is enough?

As I understand it they were looking to sell their business until Milei decided to deregulate as probably many other international companies would have done should the other side have won the elections. Socialism has been terrible for business owners in Argentina over past few years especially those with high head counts with union controls. I know several companies who refused to invest due to overly rigid and high personnel costs and risks.

 

[mikic007]

As I understand it they were looking to sell their business until Milei decided to deregulate as probably many other international companies would have done should the other side have won the elections. Socialism has been terrible for business owners in Argentina over past few years especially those with high head counts with union controls. I know several companies who refused to invest due to overly rigid and high personnel costs and risks.

It wasn't run the best, but this has nothing to do with socialism. It's like blaming capitalism, when country is doing bad. And there are plenty capitalistic countries not doing very good, and no one is blaming capitalism for it. The same companies that are complaining in Argentina about legislation, are operating without any problem in much harsher environment, and are wise enough to be quiet. High personnel cost? These days in Argentina? In this case I will ask, how much lower is enough?

Of course it's stupid to sell the company now, when times are promising higher profits, easy extraction and at the same time, the value of the company remains the same or similar. I don't see nothing promising in this for anyone except Enel shareholders. Will they invest something back into service? Or it will remain normal, to have blackouts all the time?

All good to have your team to cheer for, but not everything is worth cheering...

 

[Musicman]

When we had our company in Argentina there were regular strikes and shutting down of our business so we were losing money. It was the only country in South America that this was happening on such a regalar basis and we had businesses in every country. In addition the costs of laying people off when we lost contracts was excessively high (yes business cannot afford to pay for people with no projects or when not getting paid during a strike and this is a disincentive to employing people too) and at the end of the day the company decided to exit the market. Not a good incentive for businesses to invest and hopefully Milei is going to change all this anti-business & anti job creation nonsense. Argentina needs this change.