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| Economy |
| Argentina's Milei Ends the Debt State |
| 2026-08-06 |
| [Amer. Thinker] While Germany's debt spiral is accelerating ever faster, Argentine President Javier Milei is steering his country in the opposite direction. Germany's statists will soon be left looking foolish once it becomes obvious that the German model has failed. Only contrast reveals one's own mistakes. Javier Milei is the antithesis of Germany's political class, and the comparison could hardly be starker. While Germany continues to expand the state, Argentina is slashing subsidies and radically reducing the size of its public bureaucracy. While Berlin piles up enormous amounts of public debt, Buenos Aires is posting a primary budget surplus. Friedrich Merz believes in the healing powers of state intervention, whereas Milei is deregulating markets and paving the way for an investment boom. Argentina has achieved an economic turnaround while Germany continues its economic decay. Argentina's economy is growing steadily, private-sector employment is expanding, and the poverty rate is falling rapidly. At a time when Germany is doubling down on debt, the arms industry, and green state planning, Milei appears like a comet defying both political gravity and conventional doctrines of government. The Argentine president's latest initiative is the so-called "Grillete Fiscal" -- literally, the "Fiscal Shackles." Behind the martial name lies what amounts to a fiscal revolution. Milei first unveiled the proposal in his characteristically entertaining style during a televised address to the Argentine people. The bill must still be approved by Congress, where his party, La Libertad Avanza, is expected to secure the support of allied parliamentary factions in both chambers. Although Milei lacks a parliamentary majority of his own, his alliances have thus far proved remarkably resilient. If enacted, the legislation would break with one of modern politics' unwritten rules: the assumption that governments can always buy votes with higher spending, higher taxes, and ever more debt. The business of burdening future generations and taxpayers with politically manufactured credit expansion would, at least for the time being, come to an end. Milei's idea is straightforward: future Argentine governments should have their wings clipped before they are even able to take flight on another debt-financed spending spree.... If Milei stays the course and Argentina continues to regain stability, he is likely to go down in the nation's history as a libertarian reformer who combined conviction with prudence. Germany's statists -- from Friedrich Merz and Lars Klingbeil to Ursula von der Leyen -- would do well to prepare themselves. They may ignore him, ridicule him, or insult him, but reality has a habit of quietly making its way into people's minds. As Nietzsche wrote in Thus Spoke Zarathustra: "Thoughts that come on dove's feet guide the world." Sometimes, however, they arrive accompanied by the roar of a chainsaw. |
| Posted by:DooDahMan |
| #4 |
| Posted by: trailing wife 2026-08-06 22:15 |
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| Posted by: Besoeker 2026-08-06 16:26 |
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| Posted by: Abu Uluque 2026-08-06 12:58 |
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| Posted by: European Conservative 2026-08-06 11:28 |