🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

'El loco': Argentine libertarian Javier Milei wants to chainsaw political status quo

Published 10/23/2023, 09:09 AM
Updated 10/23/2023, 09:12 AM
© Reuters. FILE PHOTO: Argentine presidential candidate Javier Milei for La Libertad Avanza coalition holds a placard depicting a dollar bill with his face, during a campaign rally in La Plata, Buenos Aires, Argentina, September 12, 2023. REUTERS/Agustin Marcarian/F

BUENOS AIRES (Reuters) - With wild hair and sometimes a chainsaw, Argentine libertarian economist Javier Milei has become the stand-out image of the South American country's ongoing presidential election race, his combative image a lightning rod for voter anger.

A dark horse outsider until just months ago, the 53-year-old former rock musician and "shock jock" pundit sent shockwaves through the political arena by coming top in an August primary, though dropped to second place in a first round vote on Sunday.

Milei will face a competitive run-off vote against ruling coalition Economy Minister Sergio Massa on Nov. 19.

An aggressive and colorful campaign, ranging from pledging to "burn down" the central bank to wielding a chainsaw at rallies to symbolize his plans to slash spending, has ignited droves of voters angry at inflation running at 138%.

"He has managed to reignite something that was lost in Argentine politics, which is that he offers hope," said Juan Luis Gonzalez, an Argentine journalist who wrote a book on Milei titled "El Loco" or "The Crazy One".

Gonzalez, overall critical of Milei, said that he had successfully managed to portray himself as something new to uproot the political elite, who voters blame for decades of economic malaise that has worsened sharply in recent years.

"He is an unstable leader for an unstable country," he said.

Milei, whose brash showmanship has shades of former U.S. President Donald Trump or Italy's Beppe Grillo, proposes to dollarize the economy, end currency controls, close the central bank, and cut state spending sharply. He also favors laxer gun controls and tighter rules on abortion.

"He is the change that Argentina needs," said 28-year-old Milei voter Ayrton Ortiz at a recent rally in Buenos Aires province in support of the candidate. Milei has clicked with the country's youth voters, especially young men.

Milei entered politics just a few years ago citing a calling from God and his supporters often use the tag "Forces of Heaven" on baseball caps and Internet memes, while Milei has talked up going on "spiritual journeys". He has, however, also slammed the pope as a "socialist" and "representative of evil".

Representing the libertarian Libertad Avanza coalition, he has ridden a wave of anti-establishment sentiment in the region.

"In terms of political logic, I am a mistake, because what I have come to do is in fact stamp out the privileges of politicians," Milei told Reuters in an interview last year when he was starting to rise up the polls.

MURRAY, MILTON, ROBERT AND LUCAS

Milei has a small circle of confidants, including his sister Karina, who is now his campaign manager and he quipped earlier this year could become his "first lady".

His other closest companion was his dog Conan, who he paid $50,000 to clone after his death in 2017, biographer Gonzalez said. He now has at least four dogs: Murray, Milton, Robert and Lucas, named after liberal economists including Milton Friedman.

Milei spent most of his career as an economist in business and media. He worked for one of Argentina's richest business leaders, Eduardo Eurnekian, who became an early supporter of his campaign but recently criticized him as a potential dictator.

Milei's brash style of railing against critics he denounces as "communists" and "the political caste" has earned him millions of social media followers, but given critics fodder to say he is unfit for office.

Those working with his campaign say it is his authenticity that has made him so successful, especially with two-fifths of the population in poverty and looking for a new voice.

"You can like him or not, but he is himself," said Fernando Cerimedo, a political consultant who works on Milei's campaign.

HOPE OR FANTASY?

Critics say Milei is a populist promising unrealistic solutions to complex problems, and that he will not be able to implement his plans, especially as his coalition will have few local government leaders and will face a fragmented Congress.

Fernando Morra, a Peronist former vice minister of economy during the current government, admitted Milei had energized voters, but cautioned many of his proposals were hard to implement or could make things worse, stoking voter anger.

"Milei's voters are excited, some of the few going into the election with hope, but the problem is what's going to happen if there is disappointment?" he said.

Many Milei voters say they are willing to take the risk.

© Reuters. FILE PHOTO: Argentine presidential candidate Javier Milei for La Libertad Avanza coalition holds a placard depicting a dollar bill with his face, during a campaign rally in La Plata, Buenos Aires, Argentina, September 12, 2023. REUTERS/Agustin Marcarian/File Photo

"All my childhood, I saw how the money wasn't enough. At the end of the month, you see how they count pennies and cry," said Milei voter Valentina Brites, 18.

"Javier arrived and you could see: this is something different. Nothing they did before ever changed anything."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.