Is the Argentine runoff a warning of days to come?
November 19 will be an election for the ages.
Hello Financial Healers,
Last week I published a story on the shifting politics of Central and South America. Towards the end of that article, I mentioned the upcoming Argentine presidential election, which occurred on Sunday (October 22, 2023).
Turns out the election was too close to call. The two front runners, current Economy Minister, Sergio Massa, and libertarian economist, Javier Milei, are headed for a runoff in November.
You can read my original story here: 👇
Digging into the election results from Sunday, I was shocked to see how well Sergio Massa performed. With the country’s YOY inflation rate at 124% and 2/5 of Argentines affected by poverty, I was assured any outsider could be elected, so long as they promised to restore some stability to the economy. But it seems Massa still has incredible support.
One commenter did note that the public sector is massive in Argentina. Voters who are employed by the government shy away from candidates who threaten to downsize the bureaucracy.
Milei supporters face a Herculean battle against Massa, but there’s still one more ace to play… and that’s the support of Patricia Bullrich, the third place candidate. Although she’s out of the race, whoever she sides with will be given a huge advantage in November.
Wishing economic peace for Argentina,
Cory De Silva
About: Cory De Silva is an American poet, singer/songwriter, screenwriter, actor, and filmmaker. He has released two studio albums, acted in three feature-length films, and published a small book of poetry. He is a graduate of CSU Long Beach, and lives in Northern California with his wife, Colleen, and their son, Bryght.