The horror show in Argentina

I'm not referring to the farcical—if it weren't so tragic—spectacle staged by Javier Milei at a Buenos Aires nightclub this week. Although the scene accurately reflects the fantasy world in which the comedian and self-proclaimed Argentine president seems to live.

I'm talking about the chaotic reality imposed on the country by Milei's ultraliberal – and increasingly corrupt – policies. Inflation remains high, with prices spiraling out of control. The Argentine peso is devaluing daily against the dollar, encouraging a rush to buy the US currency as a form of protection.

With consumption falling and investor confidence shaken, production is shrinking. Interest rates remain among the highest on the planet – Argentina is currently the country with the second highest real interest rate, behind only Turkey – which makes credit more expensive and hinders GDP growth.

But the most serious issue is the impact of this policy on people's lives. Poverty affects more than 52% of Argentinians, while the cost of living skyrockets and wages lag behind. Amid this scenario, the government cuts public service budgets and dismantles social assistance policies. Unemployment remains high, and informality spreads as a means of survival.

And as with every messianic government that promises to "end corruption," corruption is rampant. The president's sister, Karina Milei – introduced by him to Donald Trump as "la jefa," "the boss" – is cited in a bribery scandal at the National Disability Agency (ANDIS), accused of receiving 3% in bribes on public drug contracts. "Bribery" here, in plain old Portuguese: illicit financial returns for government officials.

More recently, another scandal: the leading candidate of Milei's party in the upcoming legislative elections, José Luis Espert, admitted to receiving US$200 from Fred Machado, a businessman under investigation for drug trafficking, in addition to traveling dozens of times on his private jet. The suspicion of organized crime infiltration within the Milei government is now a real concern among Argentinians.

And the horrific acts of this actor who considers himself a comedian don't stop there: the cryptocurrency scam "$Libra," promoted on Milei's own social media, which left thousands of small investors in the lurch, and the attempt to reduce retirement and pension benefits, demonstrate the extent of his cruelty and cunning.

The overall picture points to a resounding defeat for Milei in the October 26 elections, following a trend already seen in the Province of Buenos Aires, where the opposition won by a wide margin in early voting.