I'm John Bachelor and Professor Evernellis is here and I've been moving him through all the unhappy news and potentially worse news in Latin America.

But there's a moment here to talk about things going well in Argentina.

An unlikely place if you were a year before this moment, but here it is. We'll begin with the economy and then we'll move

to the King of Spain. Argentina Debt R. Argentina Debt Risk Index drops again as default fears receive.

A very complicated Reuters headline which I'll unpack, there's a libertarian in the palace,

Harvey R. Malay.

During the campaign he carried around a chainsaw.

He also talked about dollar rising. He also talks about dual. a maybe in future. What he has done is take that chainsaw to the overwhelming governmental

agencies and ministries and connections throughout Winoissaries and the country. And that has led to a spike in poverty because so many

people were living on redistribution. At the same time it is encouraging the investor class that maybe there's opportunity in

Argentina as there hasn't been because of the outsized inflation running in the

triple digits. Now we're talking about risk index for Argentina. This

sounds like good news. Is that accessible, available professor that we have good news for Argentina?

Well, Dunn, there's certainly a good news side of the story and a bad news side of the story,

but the good news side of the story is that Malay as an economist basically did what he promised

in the campaign which is that in macroeconomic terms the country was the economy was

literally falling apart the currency was in a downward spiral out of control. You had

hyper-inflation investors were fleeing and that was threatening to destroy

everything else which is the people's basis of livelihood. And so from a macroeconomic

standpoint what he did is he basically shut down government

discretionary spending that he could he also took certain measures to lay off

government workers on and certain things that were causing Argentina to import far more than it was exporting.

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