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🇺🇸 Argentina’s Anarcho-Capitalist

Plus, stamps, misprints, and a jackpot.

November 22, 2023

The Flag

Good morning, and happy Wednesday. Marine organisms are constantly releasing invisible molecules under the ocean’s surface, and scientists believe that some of these compounds could be the medicines of the future.

Plus, History, intrigue, and a misprint combine so that a single stamp has sold for $2 million at auction.

Also, explore an opportunity in North America’s hard-rock lithium endeavor.

Finally, we’ll be taking some time off to stuff ourselves with turkey and mashed potatoes, and maybe grab a good deal or two. For all who are celebrating, have a wonderful Thanksgiving! To everyone, we hope you’ll enjoy some time off and quality time with your loved ones. We’ll be back next Monday!

Right: How Democratic Dark Money Targets SCOTUS Gabe Kaminsky, Washington Examiner

Right: Hamas and Retaking Higher Education Roger Kimball, The Spectator

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ARGENTINA

Argentina’s Anarcho-Capitalist

On Sunday, Libertarian congressman Javier Milei won Argentina’s presidential election, becoming the world’s first libertarian head of state. A self-described “anarcho-capitalist”, Milei’s victory in Argentina drew a surge of US media attention.

Reporting from the Right: ‘Shock therapy’ libertarian candidate Javier Milei, who ran as an outsider, wins Argentine presidential election (FOX News)

Reporting from the Left: Right-wing populist Milei set to take Argentina down uncharted path (AP)

From The Flag: A self-described “anarcho-capitalist,” Milei is often compared to former President Donald Trump for his populist platform. Argentina currently sees an annual inflation rate of 140% and 40% of people are living in poverty. The defeat of Sergio Massa, a career politician, reflects a continued decline of Peronism, a political movement that has been popular in the country for many decades. Milei ran on fixing Argentina’s struggling economy through dollarization, abolishing the central bank, and other means.

RIGHT-LEANING SENTIMENT

Populism is Spreading

  • Milei’s victory indicates a push for change among Argentina’s younger generation, and it could also represent an opportunity for better global economic relationships.

  • Milei has an opportunity to show the global community that libertarianism could be a viable political ideology.

  • “The bitter struggle between populist voices and political elites is a global phenomenon.”

‘Anarcho-Capitalist’ Javier Milei Elected President in Argentina Luther Ray Abel, National Review: “Milei’s victory has produced excitement and concern alike. While some see him as the catalyst for much-needed economic reforms, others fear the potential austerity measures tied to his plans, such as shutting the central bank and slashing spending. Despite the uncertainty, Milei’s supporters view him as the only viable option to break the political status quo and address Argentina’s persistent and extreme economic challenges. … The election is not just a political shift but also a generational one, with Milei’s popularity among the youth reflecting a desire for a new direction. The effect of Milei’s win extends beyond Argentina’s borders, potentially influencing trade relationships, especially with his criticism of China and Brazil and his preference for stronger ties with the United States. As for the U.S., the hour is late, and we’ll take all the friends we can get, and Argentina is doubly welcome because the Millennium must be nigh if a libertarian won an election outside of New Hampshire.”

With Javier Milei's victory, libertarianism faces a test Tom Joyce, Washington Examiner: “Does libertarianism work? Argentina is about to find out. The country rejected its failing Peronist status quo and elected right-wing libertarian Javier Milei as its next president this week. … With the victory, Milei, who shares little in common with former President Donald Trump regardless of what the legacy media say, becomes the only libertarian head of state in the world. Milei has a chance to show the world whether or not libertarianism works, particularly in countries facing rough economic conditions. … Milei is a free-market proponent who admires Milton Friedman and Murray Rothbard. He supports Austrian economics, austerity, and anarcho-capitalism. He wants to downsize his country's federal government by eliminating most of its departments. His approach is far different than what the country has previously supported. However, if backing freer trade, less government spending, and dollarization proves to be an effective way to reduce widespread poverty and hyperinflation in a developing country, Milei could show the world that libertarianism is not an unrealistic political ideology. Instead, he could prove it is an effective way to reduce government corruption and human suffering in countries where the status quo has failed miserably.”

One more opinion piece from the Right: Javier Milei, Rishi Sunak and the War for the Soul of the West Gerard Baker, Gerard The Wall Street Journal

LEFT-LEANING SENTIMENT

Argentina’s Trump

  • Milei intends to take on a very radical agenda which could be disastrous for Argentina, and he also appears to be an apologist for Argentina’s former military dictatorship.

  • “Javier Milei has said that society is better without government. Now he is about to run Argentina’s.”

  • “The anarcho-capitalist outsider’s election is stunning, but only because it took this long given Argentina’s hyperinflation and widespread poverty.”

Javier Milei’s perilous quest to ‘make Argentina great again’ Ishaan Tharoor, The Washington Post: “Since Milei’s ascent began, parallels to Trump have swirled. A self-styled “anarcho-capitalist” with a sweeping libertarian vision to revive a nation long mired in economic dysfunction, Milei is a brash outsider with no political track record, a curious hairstyle and a celebrity largely built through antics on prime-time television. He has contempt for an entrenched establishment — while Trump wanted to ‘drain the swamp,’ Milei seeks to defenestrate the ‘caste’ of political elites — and vows an all-out political and culture war against enemies to the left. … There’s explicit solidarity, to boot: Milei embraced conspiracy theories about electoral fraud in the 2020 U.S. presidential election… Milei’s proposed solutions are radical. He wants to “dollarize” a basket-case economy that’s home to a thicket of differing exchange rates and widespread black-market usage of the dollar. He also wants to heavily slash public spending, dismantle a host of ministries in government — including the country’s ministry for women, gender and diversity — embark on a spree of privatization of national companies, and abolish Argentina’s central bank.”

Argentina Braces Itself for Its New ‘Anarcho-Capitalist’ President Jack Nicas, et al., The New York Times: “Perhaps the only certainty about the country’s political and economic future was that, in three weeks, a far-right political outsider with little governing experience was set to take the reins of a government that he has vowed to upend. … In other words, it is Argentina’s Donald Trump moment. Mr. Milei, a libertarian economist and freshman congressman, made clear in his victory speech on Sunday that he would move fast to overhaul the government and economy. ‘Argentina’s situation is critical,’ he said. ‘The changes that our country needs are drastic. There is no place for gradualism.’ … Even without clarity on what he can accomplish, markets appear to view him as a better economic bet than his mostly leftist predecessors. … Failed economic policies — including overspending, protectionist trade measures, suffocating international debt and the printing of more pesos to pay for it — have sent the nation of 46 million people into an economic tailspin. … To fix it, Mr. Milei has proposed turning the world’s 22nd largest economy into a laboratory for radical economic ideas that have largely been untested elsewhere.”

One more opinion piece from the Left: Argentina’s Basket Case Economy Got Javier Milei Elected Gustavo Flores-Macías, The Daily Beast

FLAG THIS

Milei Widens Victory

Polling before the election anticipated the election being much closer with one placing Minister of Economy Sergio Messa at 44.6% and Milei at 48.6% (Statista).

Ultimately, Milei widened his margin of victory in comparison to the polls, winning the presidency with 56% of the vote to Messa’s 44% (Reuters).

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Iron Lady Out, Cheesy Apple Pie, Ancient Octopus

On This Day in 1990: Margaret Thatcher, the first female prime minister in British history, announces her resignation after 11 years in Britain’s top office. Under her leadership, the Conservative Party shifted further right in its politics, calling for the privatization of national industries and utilities and promising a resolute defense of Britain’s interests abroad.

Today I learned the oldest octopus fossil ever found is about 330 million years old.

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