This is CBS I on the World with John Bachelor.

Here's John Bachelor.

Davos, the World Economic Forum,

addressed by the new president of Argentina,

Javier Malay.

Javier Malay campaigned for the highest office in his land

with a chainsaw. He can appear out of control and yet I welcome

Ernieke to receive the Mercata Center writing a Creator's syndicate most recently of the speech made by

haver Malai this unusual person who is an educated economist. He comes from very

good understanding of the world's economy and Argentina's economy. very good

evening to you.

Have you a very good evening to you. Javier Malay sees collectivism and collectivist as an adversary.

His job ahead is to deal with an economy that's 44 billion dollars in debt to the IMF.

That's the first of its problems. It also has a public sector along

with the black market that's about 50% of the jobs in the country. In other words, it's

beyond basket case, it, broken. So what does he mean by

collectivism and what is he going to do about it? Good evening to you.

Good evening and then you forgot that the 200% inflation rate.

Thank you.

And so, I mean, it's really, I mean, when we say it's a basket case, it's a basket

cake and the great sadness is that Argentina wasn't always like this. It used to be a leader, a leader until

the collectivist really theories and that believe that the government should take over pretty much every aspect of our economic life and the government should be in the business of redistributing money to special interest and give the power to unions

...