In first speech, Argentina’s Javier Milei warns nation of painful economic shock

BUENOS AIRES, Argentina — It wasn’t the most uplifting of inaugural addresses. Rather, Argentina’s newly empowered President Javier Milei presented figures to lay bare the scope of the nation’s economic “emergency,” and sought to prepare the public for a shock adjustment with drastic public spending cuts.

In first speech, Argentina’s Javier Milei warns nation of painful economic shock

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Argentina election 2023: what you need to know

Argentina election 2023: what you need to know

The vultures are ready to “make the economy scream” if Javier Milei wins!*

Argentina election 2023: what you need to know

Far-right libertarian Javier Milei is leading the polls ahead of Argentina’s Oct. 22 presidential vote, but it remains a tight race between the top three candidates, three surveys showed.

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Argentina election: from peso to dollar?

But dollarisation would also mean immediate recession and slump. It would have to start with a massive devaluation of the domestic peso monetary base. In a very optimistic scenario, if Argentina received a loan of say $12 billion from the IMF and used $5 billion as a reserve for the banking system and $7 billion to dollarise the monetary base, the domestic peso monetary base would still have to be reduced by nearly 400%. Argentine salaries (then in US dollars) would become among the lowest globally and poverty would rise to unprecedented levels. And Argentina is already in a recession with real GDP expected to drop by around 2% this year. So either way: peso or dollar, Argentine households would pay the price in living standards.

Desperation has driven many Argentines to consider a ‘libertarian, anarcho-capitalist’ as president. If this were to happen, it will be going down another blind alley. Argentina’s capitalist economy will continue to fail.

Just scratching the surface:

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Humor in the Headlines Over China in Latin America

Illustration by Greg Groesch/The Washington Times
“As China arrives with a splash in Honduras, the US wrings its hands”- Washington Post, October 2, 2023

In a break from its hysterical coverage of the existential threat posed by Donald Trump, the Washington Post – house organ of the Democratic National Committee – cautions us of the other menace, China. “When the leader of this impoverished Central American country visited Beijing in June,” we are warned, “China laid out the warmest of welcomes.”

Humor in the Headlines Over China in Latin America

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US Alarmed by China’s Big Steps in America’s Backyard

Biden’s ally in Guatemala?

CHIUL, Guatemala − Life in Bartolo Báten’s village has been defined by corruption: A teacher who can’t get a job at the school until she pays a bribe. A water project that runs out of money before the pipes reached town. Sick residents who can’t afford the medicine that’s available elsewhere.

Insurgent candidate tells Guatemalans: Stay, don’t go to the U.S. This time, they’re listening. (archived)

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Seven Decades After Guatemala Coup, Bernardo Arévalo Sees a Dramatic Rise (Will Freeman, CFR)

Arévalo and Semilla are centrists—but in a country where politics habitually skews right, they are often described as center-left. “Semilla has a social democratic element, but its program is centrist, and it also has some center-right followers,” said Lucas Perelló, a political scientist who has spent time studying the party’s formation. Arévalo says he wants to gradually universalize existing social assistance programs to include a greater share of poor Guatemalans, reduce the cost of medicines and healthcare, and link isolated parts of the country through new infrastructure—doable tasks, given Guatemala’s exceptionally low share of debt as GDP, and necessary ones, given the country’s soaring poverty and malnutrition rates.

On security issues, another major concern for Guatemalans, Arévalo promises to increase state presence in crime hotspots, reclaim jails from gangs, and use intelligence-gathering to dismantle mafias. He says Bukele’s anti-gang strategy is not applicable to Guatemala. He is also critical of human rights abuses in Venezuela and Nicaragua and Putin’s war on Ukraine and has no stated plans to recognize China over Taiwan. Asked for a leader he admires, he named the ex-president, José Pepe Mujica, of Uruguay, where he was born during his father’s exile.

Pentagon sending troops to train Peruvian coup regime’s killers

The US Southern Command (SOUTHCOM), the Pentagon’s overseer for Latin America and the Caribbean, will be sending hundreds of Marines and special forces troops to Peru beginning as early as this week, to train military and Peruvian National Police special forces units. These same forces have carried out massacres and extra-judicial executions to suppress the mass protests against the coup regime of Dina Boluarte.

Pentagon sending troops to train Peruvian coup regime’s killers

Orinoco Tribune Editor: There Was a Coup Against Pedro Castillo in Peru + Some Notes

Orinoco Tribune Editor: There Was a Coup Against Pedro Castillo in Peru

Rodríguez remarked that the appointment of Vice President Dina Boluarte as the de facto president is a measure adopted by the Peruvian Congress to disguise the coup d’état. “Naming Dina Boluarte as the de facto president is a halfway solution between Pedro Castillo and José William Zapata, the president of Congress, who is a right-wing military man accused of corruption and drug trafficking and what have you,” he opined. “So, I believe they chose Dina Boluarte to prevent greater tension or political instability in Peru… In fact, José William Zapata was the president of Peru for some minutes and then transferred power to Dina Boluarte. This was all that was behind the coup in Peru.”

Some notes, to self, on José Williams, Hernando de Soto, Institute for Liberty and Democracy, Omidyar Network, & Atlas Network:

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Blinken heads to Latin America after Venezuelans and Colombians Celebrate the ‘Historical’ Reopening of Border

Secretary of State Antony Blinken will head next week to Colombia and Chile to forge ties with new left-leaning leaders elected in the historic US allies, the State Department announced Friday.

The secretary will later travel to Peru for a meeting of the Organization of American States and separately meet with President Pedro Castillo and other top officials.

In Colombia, Blinken will discuss “supporting strong democratic governments and respect for human rights throughout the Western Hemisphere,” State Department spokesman Ned Price said.

On his last visit to Colombia in October 2021 and later at a US-led summit in Los Angeles, Blinken has encouraged regional cooperation to address migration, a key political issue in the United States for Biden.

Blinken heads to Latin America to see new left-leaning leaders

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Venezuelans and Colombians Celebrate the ‘Historical’ Reopening of Border

Gustavo Petro is Colombia’s New President

The preliminary results on the electoral pre-count of the National Registry of Colombia reveal that presidential candidate Gustavo Petro, of the Historical Pact, is ahead of his opponent Rodolfo Hernández, of the League of Governors against Corruption. With 99.67% of the votes counted, the center-left politician, with 50.48%, obtained the advantage over Hernández, who partially accumulated 47.26%.

Gustavo Petro is Colombia’s New President

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Left-wing Historic Pact coalition emerges victorious in Colombia

Colombia’s Next President Congratulated by Latin American Leaders