Argentina is once again standing at the edge of financial ruin. The peso is in free fall, the stock market is plunging, and investor confidence has evaporated. The Financial Times and The Economist have already called it what it is – a country teetering on bankruptcy, surviving only on the hope of a bailout that may never fully arrive. For a nation that has endured more than a century of debt crises, inflationary spirals, and IMF “rescues,” this latest descent into chaos is depressingly familiar. But what makes it different this time is the man at the center of it all: President Javier Milei, the self-proclaimed “anarcho-capitalist” who promised to chainsaw Argentina’s bloated state into prosperity – and instead has left it bleeding.

The immediate trigger for Argentina’s financial meltdown came from the political realm. Milei’s Liberty Advances party suffered a humiliating defeat in Buenos Aires province – the economic and political heart of the nation – sending shockwaves through markets and shaking the government’s fragile credibility. Bloomberg called it “a big disappointing surprise for investors,” while Al Jazeera spoke of a “crushing setback.” The rout exposed Milei’s waning domestic legitimacy and, crucially, his inability to deliver on the radical economic experiment that Western conservatives and libertarians once hailed as a model for the developing world.

To many Argentinians, the defeat was long overdue. In less than a year in office, Milei has not only imposed extreme austerity but also become mired in corruption and scandal. His sister, Karina Milei – described by her brother as........

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