Click here for the PDF: The Weekly Beacon – November 24 2023

We will be giving some macro economic market updates on a weekly basis. No equity recommendations will be given in this commentary, and we encourage you to contact us if you have questions regarding any observations.

Feel free to send in your pictures of lighthouses to be featured in our weekly commentary.

This weeks issue: Thanksgiving 2023, Argentina, Socialist leaders, Latin America, Argentina ADRs, CRESY stock, PAM stock, YPF stock, Inflation and interest rates, Argentina economic issues, Argentina election result, Argentina elects conservative, Dollarization, Binance, CZ charged, Crypto lawsuits, Inflation in Canada, rent inflation accelerates, Housing shortage, Gold prices, Gold $2000, OpenAI drama, Sam Altman and OpenAI, Microsoft, Larry Summers OpenAI,



Argentina held an election last week and the country turned away from socialism and moved toward a libertarian capitalist.

This election result is a major change for Argentina and Latin America as a whole. Argentina elected an outsider often compared to Donald Trump for his brashness and non-political correctness. President Milei won 55.7% of the votes versus the incumbent party who won 44% who ran Argentina’s current finance minister.

Among the people to congratulate Milei on his victory were President Donald Trump and Elon Musk.

Over the last 20-25 years Latin American countries have almost unanimously turned to left-leaning self-proclaimed socialists to run their governments. These governments promised citizens better health care, education, infrastructure and economies. These governments took over private businesses, printed money to fuel their agendas and created welfare states. Unfortunately, for the most part, these policies have failed and done more harm than good.

The rise of socialism in Latin America over the last 2 decades has been called “the pink tide”. The pink tide ruled Argentina, Brazil, Bolivia, Chile, Nicaragua, Uruguay, Mexico, Venezuela and other smaller countries in Latin America for most of or entirely the last 20-25 years.

We will not jump into each instance and why certain policies have failed each country. We will simply look at Argentina and what has happened over the last 20-25 years and what we see happening moving forward.


Click here for the PDF: The Weekly Beacon – November 24 2023