So the Argentinian people decided to wake up one day and elect Javier Mle as their next president. That's essentially like saying you know what this, this is the most unusual, peculiar, very odd candidate. And yet as of December 10th, he is the next president of Argentina No see exact Before we get through the whole story who this guy is because he's a really fascinating guy. Let me tell you a little bit just a tiny bit about the Argentinian economy because over the past few years, the Argentinian economy became the poster child of economic failure.

40% of Argentinians are now affected by poverty. The Peso is high, hardly worth anything. Inflation shot up 140% in September Governments have tried time and again to turn things around without success. So 40% of Argentinians a 50 million people country are living under the poverty line.

Imagine 50 million people, 40% are living under the poverty line. Inflation is 140% The interest rate is 140% which means you can't get nothing done. No growth, no economy, and the cost of living is spiraling every single month. Argentina has become the poster child of economic failure.

If you think that Turkey has it bad, Argentina is in a whole new level. They've literally defaulted three times in the last quarter of a century. The latest one was in 2020, 2014 2001. Essentially, what they have right now is an economy that basically is running away with crazy inflation.

Which means cost of living is absolutely insane. A local currency that gets basically devalued every single day. Massive interest that prohibits, prevents and basically prevents from any sort of economic growth. To get them out of this major crime.

Complete chaos, Complete corruption. So people are really angry. and understandably so. This economy has not only failed, it failed multiple times.

and it keeps on failing. So they chose somebody who's not from the establishment. They chose an outsider. and that Outsider is Javier Mle an outsider is a very, very gentle definition of how much out there this guy is.

So he's a Farri Libertarian And he ran on a purely economic campaign. James Carell Said it first. it's the economy. Stupid.

He ran on a campaign in which he's going to reconstruct the Argentinian economy and get rid of inflation, which is the only thing that Argentinian people care about Now rightfully so. Now he's an economist. He's not a professional politican. I He's definitely not a you know, an establishment guy.

Very few people heard about him before this, in fact, his own kind of antics were a little bit odd, but very eye-catching. He was waving a chainsaw at one of his rallies to show how he's going to slash the government spending. He was campaigning on, essentially cancelling the Argentinian peso, replacing it with the US dollar, and closing the Argentinian Central Bank completely privatizing everything, cutting down government spending and deregulating everything. and also his anti-abortion proun and pro-israel which is very unique.

Now this guy is gonna take office as of December 10th and in his Nle speech, he did kind of repeat almost everything in his campaign, but he left out two things. Number one, he never mentioned the cancelling of the peso and number two, he never mentioned you know, the the closing down, the shutting down of the Central Bank of Argentina So that might have been just an election stunt, but he did repeat almost everything else now. I'm going to be honest with you, his challenges are massive. On the one hand, he's faced with 140% inflation, which means he has to get high interest rates.

On the other hand, with a 140% interest rate, which is what they are. right now, the economy is basically dead and because of how bad things are in Argentina Unlike other candidates, this guy won't have a grace period at all. He's going to have to deliver on day one. He'll have to rebalance this economy because the economy is literally on its deathbed.

Again, this guy's going to have zero Days of Grace no grace period. He's going to have to rebalance, reach stabiliz the Argentinian economy on day one. and it's not going to be easy. With 140% inflation, 140% interest rates, that's a huge challenge.

It's going to be very interesting. Grab a popcorn. we're going to be following this I'll see you in the next video.