.

Can't be a country when no one wants to pay for anything and everyone wants to be their own boss.

.

Milei will decree a shock devaluation (100%+), and near-total deregulation of capital flight.

In a country like Argentina - with its very precarious foreign-exchange balance - this would inevitably lead to a stampede, and a fast-snowballing type of collapse.

But the rich like it, because for them it will mean a massive windfall - tax-free! - and, once the dust settles, the chance to buy everything up at fire-sale prices.

Milei will flee the country, and corrupt right-wing judges will clear him and his accomplices ("time to go after Cristina Kirchner again!" they'll no doubt conclude).

Their only hope of avoiding this cruel fate, is that Sergio Massa - the center-left economy minister - might beat him in the Nov. 19th runoff.

But the likely 3rd-place candidate - Patricia Bullrich (who's just like Milei - but more image-conscious) - will probably endorse Milei, giving him at least 55% in the runoff.

Makes you want to cry for Argentina.

They called him the Madman (El Loco) in highschool due to his outbursts and aggressive retoric.

He wants to do away with taxes on the rich and let poor folks sell their organs. He sounds like a Pinochet wannabe. A true "free" trader who is out of touch with humanity.

The far right crazies never go away. They just keep coming back to haunt a democracy forever.

Milei's the product of big business think tanks, who promoted him as a way to "move the discourse to the right" once it became obvious that Trump's pal Mauricio Macri would be swept out in 2019.

What they did not expect, is that he would replace the "establishment" right-wing coalition, 'Together for Change' (who, frankly, would be almost as bad).

The biggest beef big business has with the current, center-left administration is the currency controls - which impair their ability to dollarize and offshore profits.

But they're a necessity in today's Argentina - given the dire shortage of hard currency. If Milei opened the dollar floodgates, it would create - to paraphrase Perot - a "huge sucking sound" of dollars leaving the country.

And since Argentina's been cut off from global bond markets since early 2018, the result would be an uncontrolled jump in the dollar-peso exchange rate - with the resulting hyperinflation, collapse, and riots.

He doesn't care, of course - because elites would have a yooge windfall, and then be able to buy everything up at fire-sale prices. And they pay his way.

Hopefully, it could be avoided - but the only candidate who can do so, Sergio Massa, is highly unlikely to win the Nov. 19th runoff because the 3rd place candidate, hard-right authoritarian (and lush) Patricia Bullrich, will probably endorse Milei.

And even if she doesn't, many of her voters will migrate to him (polls already show this).

Enough to make anyone cry for Argentina.

Oh wow, poor Argentina.

The filthy-rich will have their little monsters.

Always a lot of drama in Argentina.

But more so even, when some use puppets to pull off gigantic heists - leaving everyone else with the tab.

And unlike our Fed, they can't just create yooge amounts of dollars to paper whatever crisis over.

Every time Republicans howl that they want to "disband the Fed" - I suggest they look at our friends in Argentina.

Mend it, don't end it - I say.