[FOREIGN] >> That is the now elected new president of Argentina. [00:00:15] And I would have said several years ago, acting very unlike a president in this hemisphere, but now kind of in line with some of our recent presidents, honestly, that's Javier Malay, got 55.7% of the vote, [00:00:33] large win in a very divisive election. And we are already starting to get an idea of what this could mean for Argentina. What are the new policies going to be? Well, Milei said that he's going to slash government spending, take a chainsaw to it is the terminology that he likes to use. [00:00:51] And in fact, up until the last run of the election, he would carry a chainsaw around. He would dollarize the economy, so effectively eliminating the Central Bank of Argentina, and instead just going with the dollar, meaning that the US Federal Reserve would set monetary policy for Argentina, [00:01:09] which is a path forward I suppose. He would also cut key ministries, including those of health and education. He's an admirer of Donald Trump. Why not? Has likewise presented himself as a crusader against the sinister creep of global socialism with plans to purge the government of corrupt establishment [00:01:27] politicians. Describes himself as an anarcho libertarian, which means incredibly suspicious of government power and wants to dial back government power. Unless using government power lets you attack the groups in society that you don't like and restrict their freedoms, and then flame on, [00:01:44] get the government all up in that. Isn't that weird how that works? Anyway, I wanna give you a little bit more of an idea of some of the new president's thoughts. Here he is talking with Tucker Carlson. >> Speaker 2: [FOREIGN] [00:02:40] >> Speaker 1: Okay, so that is Milei, who is a political pundit as well as an economist. That's his actual training, presenting himself there as some sort of moral philosopher, I suppose. You see, the woman has the right to her own body, but obviously the child's not her body, so she doesn't have a right to cause something [00:02:59] that you do to result in the death of the fetus would obviously be murder. Of course, we can play philosophical games about that. Hypotheticals of what if you woke up in the hospital and someone was connected to your body and removing them would kill them? Do you have a moral obligation to stay there for nine months? Look, we could play these games. [00:03:14] We're not going to, we don't need to, because he's not actually a philosopher. He's a guy who doesn't like the idea of bodily autonomy. That's all it is. I am sure that the right super happy about this in particular, they'll pretend that they understand his economic policies. They don't, but they like the idea that he is against reproductive freedoms. [00:03:31] He's against a lot of other stuff we're gonna get into. But Francesca, what do you think about this new path for Argentina. >> Speaker 3: I mean, I don't know where to start John. I lived in Argentina for five years. I will be talking about this on my show, the Bituation Room, in more detail. We'll have people from Buenos Aires, from Argentina itself, excuse me. [00:03:49] But look, this is what happens and it's happening around the world. So Argentina is basically on trend for demagogues and libertarians and people who wanna hollow out the government. As you hear him say, he's very abannanite ultimately. [00:04:07] So it makes sense. Here's the problem, when you have a global south country like Argentina that already has a very tenuous economy, if inflation is through the roof and then you destroy everything about that economy and that government, you are f-ed. [00:04:25] You will plunge everyone into a more extreme poverty. That it's not like when the Fed raises interest rates in the United States and it's like a little here, a little there, harder to borrow. Ultimately, the United States is a hegemonic economic country when [00:04:42] you're Argentina, no, no, no, those are decades. And I would argue what's happening now is the legacy of a military junta that took out IMF loans back in the 80s and 90s, right? So trust me when I say that when you flirt with a demagogue [00:05:00] like Bannonite in the global south, in a country that doesn't have that much money to begin with, the ramifications are going to be massive. However, I do believe here's what Argentina has that we don't, [00:05:16] incredible social movements and they will rise up and they will absolutely boot this idiot from power. Mark my words. >> Yeah, just that, that could have been more of a preemptive thing. >> Yeah. [MUSIC]