Talking a Good Game

Javier Milei, the newly elected Argentine President, is, indeed, talking a good game. It’ll be well worth watching to see if he can deliver—and he has many large obstacles in his way, including (this is far from an exhaustive list) opposition to his wish to get rid of the nation’s central bank (and the economic pitfalls associated with it, both near term as Argentina’s economy adjusts, and longer term with currency controls devolved to the provincial banks or to individual banks (some of which may already be too big to control without stern measures aimed at them in particular)), opposition parties bent on restoring/maintaining their own political power, general resistance—both political and popular—to any change of such magnitude, and his own political inexperience and naivete.

With that rambling lede, here’s an excerpt, via RealClear Politics, from an interview that that Milei had with Argentine TV host Alejandro Fantino just before Thanksgiving:

We aren’t above the ones we represent. In financial terms, “The derivative is never worth more than the underlying asset.” The derivative exists because the underlying asset exists. We exist as representatives of the people because the people exist. It is madness, it is delusional, to think that a representative of the people is above the people he represents themselves. It is a delusion in which the political caste exists.

The full hour-and-a-quarter interview, in Spanish, can be seen at the link at the bottom of the linked-to article. That YouTube link also is this.

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