A “middle class revolt”. That is, a disturbance, change, dissension, uproar. Even a move. This is how the Royal Spanish Academy defines “revolt”. And that is how one of the most important editors of the Wall Street Journal preferred to synthesize what happens at these hours in Argentina. In English, of course.
The macroeconomic picture is familiar. The description of the painting, too. The WSJ talks about the collapse of the “peronist socialism” at the hands of economic reality, in a story that also includes, paradoxically, former President Mauricio Macri and his “center-right” party that shelters under the friendly acronym of TFC, that is, Together for Change.
Of course, the fact to take into account is that, for the WSJ, the Government and the opposition seem to be losing the possibility of inhabiting the Casa Rosada since December 10 at the hands of the candidate of La Libertad Avanza, Javier Milei, fired by the “middle class revolt”. The equation described is not original: “nothing worse for the middle class than inflation, since it inhibits and pushes away prosperity.” For the WSJ, this is the explanation of the birth and heyday of Javier Milei, “an outsider promising to close the central bank and replace the peso with the dollar”.
Along these lines, the article mentions something else, almost a common denominator in the economic reports at this time. Notes that It is still a question how Milei will do in case of winning the presidency to solve the problems, many, very numerous, that Argentina faces, with so few legislators in Congress. Of course: it makes it clear that nothing, it seems, will stop the vocation to liberate the middle class from the “caste” or status quo.
Linked to the latter, we add two references: that of the Financial Times that talks about the “earthquake-Milei” and that of the bank Goldman Sachswhich has referred in the last few hours to the devaluation of the BCRA and the rise in interest rates as a “sticking plaster”, I mean, a band-aid or something.
Epstein, Rodriguez and Fernandez
In this center of gravity that seems to be the United States for Milei, the following message appears: “Welcome to the dream team, long live freedom, damn it.”
Last June 5, via Tiwitter (now, X) Javier Milei welcomed the arrival of the economist Darío Epstein to his team, that is, the dream team. On that occasion, the lion of the Supply put in a copy the eminent economist Carlos Rodríguez and the former minister Roque Fernández, two members of the mileista troupe, although with clarifications at the bottom that will be given on another occasion.
Visiting Wall Street
The data of the last few hours is that the contacts of the libertarian brotherhood with the United States are growing. On the one hand, Epstein will travel to the United States next week. On the other, his own Milei maintained for these hours that she is holding talks with the IMF.
as far as he could tell Ambit, Epstein will set foot on Wall Street where meetings of various caliber await him, not only with the main research teams of the main investment banks, but also with think tanks that the economist knows well. Graduated from the University of Buenos Aires (UBA) Epstein has an MBA from the University of Michigan. He is director of the Research for Traders firm, which is dedicated to financial and market advice. In the City his name is familiar, because at the dawn of the Menem era, He was director of the National Securities Commission (CNV). Another fact that is vital: in those years, he participated in the privatization process of companies in the steel sector, Entel, Gas del Estado, Telecom and YPF.
My friend Kristalina and my sister Karina
On the other hand, always speaking of the IMF, in the last hours it was Milei himself, who maintained that the agency had contacted her sister, Karina, after the elections, that is, “the boss”, to arrange a meeting. The economist said it in a radio interview. “They contacted my sister to have a meeting, we are seeing how to deal with it”, said Milei, who added that “the Fund offers you a fiscal number and how you reach it is your problem.” She also said that “historically, adjustments fell on the private sector; Those of us who paid the piper for the disagreements of the politicians were the producers of wealth”.
It must be remembered that the IMF’s calls to Milei occur a few days before the meeting scheduled by the agency’s executive board to discuss the technical agreement reached between the staff and the government. Once approved, a draft for some US$7.5 billion is expected for Argentina. It should be understood that, before making the final decision, the board will want to hear the opinion of the staff in order to have first-hand a much more accurate description of the present and future scenario.
Source: Ambito
