RJ Hamster
Argentina’s “Crazy” Experiment Is Working
Eric Fry
Editor, Smart Money
DAILY ISSUE
Argentina’s “Crazy” Experiment Is Working
Hello, Reader.
“We are not going to stop until Argentina is the country with the most freedom in the world.”
So declared Argentinean President Javier Milei before the 41st IAEF (Instituto Argentino de Ejecutivos en Finanzas) Congress in Buenos Aires last month.
The man who brought “chainsaw economics” to the world stage has been on the job for just over two years. Called “El Loco” by some of his critics, Milei has espoused “crazy” political philosophies, like, “The state is not the solution to our problems. The state is the problem!”
Armed with that matter-of-fact perspective, Milei has achieved enviable accomplishments during his just-over two years in office. This so-called anarcho-capitalist has been implementing free-ranging reforms that have unshackled the Argentine economy from decades of governmental oppression.
How’s it going so far, then?
In no particular order, here are a few choice data points to ponder as the experiment enters the “back nine”…
- Inflation has fallen to around 30% annually, from a white hot 300% per year.
- Wholesale inflation has slowed to 1.6% per month.
- Total exports just hit an all-time high.
- The private sector added +238,000 thousand jobs in the last 12 months… quadruple the 60,000+ “jobs” Milei slashed from government payrolls.
- The 4.5% accumulated growth in the first seven quarters of Milei’s presidency is the highest in the last 20 years.
- Argentina is one of the fastest growing economies in the entire Western Hemisphere, registering 5.3% growth year-over-year.
Achievements like these would rank highly in any country, including the United States.
Now, at the time Milei’s experiment began, the expert class were warning of unmitigated disaster and havoc for the country. But to the surprise of the nay-sayers, the Argentine economy has become remarkably un-devastated.
Argentinian stocks have been rallying for months. If Milei’s early successes put down roots and blossom, Argentinian stocks could rally for years.
But here’s the real heart of the matter…
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Not Just Markets — Millions of Lives Changed
But perhaps the most heartening data point of all comes from the Ministry of Human Capital. Here it is translated…
Poverty in Argentina reached 27.5% during the third quarter of 2025, according to a projection by the National Council for the Coordination of Social Policies (CNCPS) based on information from the National Institute of Statistics and Censuses.
This represents a year-over-year decrease of 10.8 percentage points compared to the third quarter of 2024… and a decrease of 27.3 percentage points since President Javier Milei took office.
It is also estimated that extreme poverty fell by 3.8 percentage points compared to the third quarter of 2024. Since the beginning of this administration, extreme poverty has decreased by 14.8 percentage points.
This means that millions of people have been lifted out of extreme poverty.
The national poverty rate has been tumbling since Milei took office in 2023. In fact, it has dropped quarter after quarter, as reported by the Ministry of Human Capital/INDEC…
- Q1 2024: 52.9%
- Q2 2024: 44.7%
- Q3 2024: 38.3%
- Q4 2024: 36.3%
- Q1 2025: 34.4%
- Q2 2025: 31.6%
- Q3 2025: 27.5%
As Argentina’s economy continues to open up to the world, investment opportunities abound.
Here’s how you can take advantage of them…
Join Me at the End of the World Summit
Now, Milei is no scientist, but his grand experiment is unleashing the dynamism of the Argentine economy.
For decades, Argentina has been a latch-key child of the global economy. But now, Milei is unlocking the door and bringing it out into the light, where it can take in some fresh air and prosper.
I’ve been actively investing in foreign markets for more than 30 years. During that time, I’ve seen numerous booms and busts.
Usually, the bust phases last only a year or two. But when countries endure chronic bust conditions, like Argentina has done during the last two decades, most investors simply forget about them… and their downtrodden markets. They become an overlooked blot on the financial landscape.
But when bust-time conditions do finally begin to reverse, spectacular stock market rallies can ensue.
If you’re not paying attention, you could miss it.
To make heads and tails of the landscape, I’m joining three legendary investors this coming Monday to discuss the potential rewards and risks the Argentine stock market may be offering.
This Investing in the End of the World Virtual Summit will take place onMonday, January 19, from 12-2pm Eastern.
Joining me are Rick Rule, Byron King, and Joel Bowman, each with decades of on-the-ground experience in global markets — and a deep focus on the resource, energy, and macro forces that can drive huge returns when a country’s fortunes finally turn.
During this summit, Joel will guide us into the unique potential of this frontier market.
You can register for the event by clicking here.
I look forward to seeing you there.
Regards,
Eric Fry
Editor, Smart Money
