Don’t Cry for Milei, Argentina: U.S. Economic Canary Has Black Lung.
Unf*cking The Republic
UNFTR Media
4.8 • 758 Ratings
🗓️ 7 May 2026
⏱️ 19 minutes
🧾️ Download transcript
Summary
Javier Milei is brash and audacious, and he loves Donald Trump. But in many ways Donald Trump is the one who is following Milei. Argentina has an 18 month head start on Russell Vought’s wet dream of implementing a harsh libertarian doctrine. For a while it looked like everything Milei did was succeeding. He tamed inflation, created an export surplus and got back on track with debt service. Economic shock doctrines that rely on austerity for the masses and corporate giveaways always wind up the same, however. It was only a matter of time. The wheels are coming off Milei’s project this year as inflation is back, money is tight and people are pissed. America’s canary came out of the coal mine with black lung.
Resources
Buenos Aires Times: Economic activity posts biggest slump since 2023
Argus Media: Argentina inflation eases to 32.6pc in March | Latest Market News
Argus Media: Argentina economy has sluggish start to 2026
Peterson Institute for International Economics: Argentina’s fragile monetary framework risks renewed volatility
BBVA Research: Argentina Economic Outlook. March 2026
Americas Quarterly: Argentina’s Polarization Threatens Milei’s Pro-Market Agenda
Americas Quarterly: REACTION: Milei’s Decisive Midterm Election Victory
Paul Krugman: Why Is Trump Bailing Out Argentina? - Paul Krugman
New York Times: Milei Vowed to Fix Argentina’s Economy. Then Came a New Crisis.
Newsweek: Trump’s Argentina bailout sparks fury among farmers, Republicans
Al Jazeera: Argentina Senate approves contentious Milei-backed labour reforms
Buenos Aires Times: Pure polarisation in Congress – Milei delivers partisan speech full of insults
Buenos Aires Times: Sharp drop in Argentina’s poverty rate delivers boost for Milei
LatinNews: In brief: Argentina renews China currency swap line
UNFTR Resources
Video: Milei Promised Miracles, Delivered Chaos—Trump Is Next
Essay: Don’t Cry for me Milei, Argentina.
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Transcript
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| 0:00.0 | If you'd like a preview of what's to come when you run an austerity regime for the people and handouts to corporations with no oversight, don't look up, look down. |
| 0:09.2 | Don't cry for Mille, Argentina. |
| 0:13.8 | Before there was Doge, there was Javier Millet, who was so enamored with Donald Trump, he consulted with the same hairstylist. |
| 0:22.4 | You know, Argentina is the southern laboratory for the United States. |
| 0:27.3 | Mille is the guy who campaigned with a running chainsaw, which I will grant you as an effective |
| 0:32.6 | prop, and he won big because of all his histrionics. |
| 0:37.2 | Argentinians delivered him a mandate to fulfill his campaign promises to crash the peso, |
| 0:42.3 | fire tens of thousands of government workers, gut public subsidies for electricity, gas, public transit, |
| 0:48.6 | universities, pensions, and disability benefits. |
| 0:51.8 | He called his own central bank a criminal enterprise, refused to meet with |
| 0:56.8 | the Pope at the time. Who was Argentine, by the way? Because the Pope was insufficiently libertarian. |
| 1:04.2 | Millet and Trump are birds of a feather. Same playbook, blow by blow. Blame it on the last guy, |
| 1:12.5 | promised paradise on the other side. |
| 1:17.3 | Stuff the pain down the throats of the people who are least able to push back and then personally capitalize on the gains and the favor that's delivered to the corporate class. |
| 1:22.3 | And look, while it might seem distant, Argentina's like a snow globe. It's a little self-contained universe with a blizzard going on |
| 1:29.6 | inside that kind of tells us how things are going to play out here. |
| 1:38.5 | All right, let me start by giving me lay his due. The Argentina that welcomed him to lead it was in dire straits. |
| 1:46.1 | And any rational person would be hard pressed to defend the institutional bloat and the reckless |
| 1:51.0 | financing maneuvers and systemic corruption in Argentina. And you have to call balls and strikes |
| 1:55.7 | on this stuff. When Mille took office in December of 2023, Argentina was a basket case. |
| 2:02.8 | Monthly inflation was running at 12.8%. |
| 2:06.6 | That's not annual. |
... |
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