“The Argentine government in January saw its first monthly budget surplus in nearly 12 years, as new President Javier Milei continues to push for strong spending cuts, the Economy Ministry announced.” So reported left-leaning Barron’s on 2.17.2024. “The spending cuts that allowed Milei to turn around Argentina’s economy,” proclaims the headline for the Buenos Aires Times (BATimes.com). In late April, Reuters said: “Milei announced that his government had logged a financial fiscal surplus of more than 275 billion pesos ($315.4 million) in March. For the first quarter, the surplus – the first of its kind since 2008 – represented 0.2% of the nation’s gross domestic product (GDP), the president noted” on 4.22.2024. 4 days ago, that same source reported: “Argentina posts fourth month of fiscal surplus under Milei.” Milei famously campaigned using a chain saw or a blender to illustrate that he would cut down on government spending, eliminating jobs and entire departments. While there has naturally been pushback against changes, including students and educator protests, the reforms are apparently working. Left-leaning AP said on 5.13.2024 that: “Argentina will get next installment of bailout as IMF praises Milei’s austerity policies.” There is much to learn, says E.J. Antoni, Ph.D, and economist at the Heritage Foundation, who pointed to Milei and specifically mentioned housing, budget, and regulatory policies as part of the mix that could be deployed here in the U.S. given the proper changes away from what has been called Bidenomics. Antoni said inflationary costs, “especially in the housing market” could be part of America’s future by adopting the examples of Milei, who has accomplished so much in just a matter of months.
Part I
Always a pleasure joining @RCamposDuffy, this time discussing the economic lessons we can learn from Argentina and @JMilei on bringing down inflation, especially in the housing market, and much more: pic.twitter.com/XISVv9M9We
— E.J. Antoni, Ph.D. (@RealEJAntoni) May 19, 2024
Per AP on 5.13.24: “Argentina’s annual inflation rate reached 287% in March, among the highest in the world, deepening poverty and spurring strikes and protests. But the IMF praised President Javier Milei’s libertarian government for a number of economic successes — Argentina’s first quarterly fiscal surplus in 16 years, falling monthly inflation and surging sovereign bond prices.”
Although brutal for Argentina’s poor and middle classes, the market-friendly overhaul has “resulted in faster-than-anticipated progress in restoring macroeconomic stability and bringing the program firmly back on track,” the IMF said, thanking Argentine authorities for “the decisive implementation of their stabilization plan.”
The international lender remains deeply unpopular in Argentina, where the public blames it for an economic implosion and debt default in late 2001. The IMF later acknowledged it made mistakes contributing to the collapse.
It’s rare for a country to have the IMF as its biggest creditor. Argentina is in the strange position of relying on money lent by the fund to repay the fund itself.”
Antoni, in the video above, noted that inflation was now down to single digits, a dramatic fall from triple digit rates. From what has been described as one of the worst inflationary positions in the world, to one of the best turnarounds on the planet in such a short time, Antoni thinks that if deposed 45th President Donald J. Trump is reelected, the example of Milei could be a proven track record that could spur U.S. growth and a return to economic prosperity for the people.
Via right-leaning Forbes, contributing author Frank Holmes wrote on 5.13.2024 “How Javier Milei’s ‘Shock Therapy’ Is Transforming Argentina’s Economy” saying the following.
Since taking office in December 2023, the libertarian leader has had to make some hard choices to stabilize Argentina’s economy, which has long been beleaguered by high inflation and overspending. His “shock therapy” approach, deeply rooted in free market principles and fiscal restraint, could serve as a blueprint for other nations grappling with similar economic ailments, including the U.S.
Milei’s strategy hinges on two critical pillars: fiscal reform and monetary stabilization. By addressing the country’s chronic overspending, his administration achieved a noteworthy milestone—a budget surplus in the first quarter, the first since 2008.”
“In a bold move, Milei halved the number of ministries and eliminated 70,000 public sector jobs. He also suspended new public works contracts and removed various subsidies, further underscoring his commitment to reducing state intervention in the economy.”
Bullish Bets And Cautious Analysis
High-profile endorsements have rolled in five months since Milei took office. Following a meeting with the Argentine president in Los Angeles, Tesla CEO Elon Musk tweeted to his 182 million followers that he recommends investing in Argentina. Similarly, billionaire investor Stanley Druckenmiller, after listening to Milei’s speech at Davos, described the president as the world’s sole free market leader today and disclosed investments in five Argentine companies. …”
Part II – Additional Information with More MHProNews Analysis and Commentary in Brief
Entirely fair and arguably necessary questions are often overlooked when examining U.S. policies for the last 100 years. What has worked and why? What has failed and why? Those are starting questions, not final ones.
MHProNews recently did a deep dive into the kind of big government policies that were launched during the presidency of Woodrow Wilson (D). The article below features the Pujo Committee report. Several of the initiatives that were launched over a century ago are still having problematic repercussions today.
Wilson led the U.S. into World War I (see above), which was a move into foreign wars long opposed by most Americans. MHProNews has previously reported on warnings from the IMF about the U.S. debt trajectory, which have ballooned under Biden and Democratic spending plans. While there is a steady stream of ‘happy talk’ – i.e.: big promises followed by tepid or poor outcomes from Democratic or other big government policies (when Republicans try them, big government spending plans are routinely just as problematic).
MHProNews posted that item above years ago. While Biden was ‘sold’ as a moderate, MHProNews clearly sounded the alarm that he was a documented leftist. So, it was no surprise when Senator Bernie Sanders (self-described Democratic Socialist VT) and others on the left endorsed Biden. The ballooning debt and spending in the U.S. under Biden, plus Fed policies, created the higher inflationary scenario we have been living through the past 3.3 years. It was entirely predictable – and was in fact predicted.
Flashbacks to prior illustrations in MHProNews reports, above and below. Steps taken by Biden like
shutting down the Keystone pipeline and other domestic moves pushed U.S. energy costs higher.
Mark Zandi, chief economist at Moody’s Analytics, told CNN that the average U.S. household must spend $493 a month more — nearly $6,000 a year — to buy the same goods and services as it did last year at this time.
Wage gains have also faltered, lagging well behind inflation. …”
https://www.reviewjournal.com/opinion/editorials/editorial-bidenflation-bill-for-average-family-hits-6000-a-year-2607204/
In less than 9 months under Biden-Harris-Democratic policies and spending plans, inflation was fueled, as the flashback report below on MHProNews documented.
Nor can it easily be denied, when then House Majority Whip James “Jim” Clyburn (SC-D) admitted that Democrats knew that they would be fueling inflation. The cause and effects are clear for those with the eyes to see who are willing to see the evidence.
The result of these Biden-Harris-Democratic policies includes the fact that essentially all housing – along with most other items – are less affordable.
When the evidence is objectively examined, it should be apparent that Democrats – with Biden-Harris as their titular leaders – have fueled inflation, reversed previously working Trump Border and Energy policies, spent record sums in peacetime, and have left most Americans worse off than they were 4 years ago. Even with lawfare directed against Trump, it is entirely possible that Trump could emerge as the winner in the rapidly approaching 2024 election on November 5 (several states will have early voting, vote by mail, etc.).
What Milei is demonstrating to not only the U.S., but to the world is that fiscal conservative policies can work when they are allowed to work. What Milei did was take a proverbial chain saw to government spending, departments, and what he viewed as unnecessary jobs. When the private sector is booming, the ‘need’ for government jobs is obviously not as significant. When more money can be earned with jobs in the private sector, the draw to welfare benefits are lessened.
On August 13, 2020, the article below was posted on MHProNews. Months before the 2020 election that report (along with others) warned against the threats of big government programs that were described as socialism. For those who understand the lessons of history, what we have today was entirely predictable – and was predicted.
But what can be done about this vexing set of situations in America now? The answer ought to be self-evident. Voting for more of the same will only deliver the same. Be it Biden-Harris, or some other person at the head of the Democratic ticket, it is evident that they are pushing big government ‘socialistic’ policies that tend to benefit corporate cronies while they hurt the very people that they claim to want to help. While Democrats may claim they are for the little guy, leftists like Michael Weinstein have bluntly called them like they are – corporate Democrats.
It is therefore mind boggling that the Manufactured Housing Institute (MHI), which is supposed to be nonpartisan, is embracing plans that run counter to the interests of smaller businesses, affordable housing seekers, while benefiting primarily consolidators and the wealthy that can withstand inflation and even benefit from it.
The worst may be ahead, not behind, if Democrats hold power. Explore the deep dive report below to see how even automotive independence is at risk.
Manufactured housing is hardly the only sector of the economy that is suffering. Several segments are witnessing consolidation, despite the happy talk by Biden-Harris that they would be working for more competition, when their policies are actually benefiting consolidators.
The powers that be want people to be ignorant. They want to posture as if they are benefiting the little guy, when they are slyly benefiting themselves and their allies.
MHProNews editorially believes in a nation of thinkers who are capable of doing good work, either for themselves in business, or for others in business. MHI’s own members, and some past leaders, made it clear that the industry should be doing much, much better. The system is rigged. The wealthy are not all corrupt scoundrels, but numbers of them have abused the system that made the rich.
Be prepared to vote wisely. Help others in your circle to see reality and vote wisely. There is no place to flee if the U.S. completely falls into the hands of those who have abused the system for their own benefit, while they posture and pretend to be something that they are not. After years of providing reports with analysis that are fact-based, use common sense, and tell the truth, it is time for more pros to read, ponder, and learn the valuable lessons. Argentina’s Milie has been called their version of Trump. Milie is showing the way. BTW, Antoni said increasing the housing supply is part of what he is advocating for to curb inflation. Manufactured housing could be leading the charge in that regard. Biden and Democrats have demonstrated in less than 4 years just how poorly their plans worked, which only makes the far superior Trump economy seem like a gift. See the linked reports to learn more. ###
Always a pleasure joining @RCamposDuffy, this time discussing the economic lessons we can learn from Argentina and @JMilei on bringing down inflation, especially in the housing market, and much more: pic.twitter.com/XISVv9M9We
— E.J. Antoni, Ph.D. (@RealEJAntoni) May 19, 2024
Part III – Our Daily Business News on MHProNews stock market recap which features our business-daily at-a-glance update of over 2 dozen manufactured housing industry stocks.
This segment of the Daily Business News on MHProNews is the recap of yesterday evening’s market report, so that investors can see at glance the type of topics may have influenced other investors. Thus, our format includes our signature left (CNN Business) and right (Newsmax) ‘market moving’ headlines.
The macro market moves graphics below provide context and comparisons for those invested in or tracking manufactured housing connected equities. Meaning, you can see ‘at a glance’ how manufactured housing connected firms do compared to other segments of the broader equities market.
In minutes a day readers can get a good sense of significant or major events while keeping up with the trends that may be impacting manufactured housing connected investing.
Headlines from left-of-center CNN Business – 5.20.2024
- Class of 2024: How’s your job search going?
- How Red Lobster’s misguided endless shrimp promotion drove it into bankruptcy
- Red Lobster files for bankruptcy
- Ivan Boesky, famed trader in 1980s insider trading scandal, dies at 87
- Target is cutting prices on up to 5,000 items to lure back inflation-weary shoppers
- Senate Banking Committee Chair calls for ‘new leadership’ at the FDIC following scathing report
- The Saudia Group exhibitor area at the Dubai Air Show in Dubai, United Arab Emirates, in November 2023.
- Saudi Arabia’s biggest-ever plane order isn’t going to Boeing
- A laptop keyboard and ChatGPT on AppStore displayed on a phone screen are seen in this illustration photo taken in Krakow, Poland on June 8, 2023.
- OpenAI puts flirty ChatGPT voice that sounds like ScarJo in ‘Her’ on hold
- Will the Fed lower interest rates in September? That’s the billion dollar question.
- Why Jay Powell really wants to lower interest rates this September
- Make your money work when you’re not: Creating an income-producing portfolio
- China launches its own anti-dumping probe following Biden’s monster tariffs
- Elon Musk launches SpaceX’s satellite internet service in Indonesia
- Disneyland character performers vote to unionize
- Minnesota lawmakers strike minimum pay deal for Uber, Lyft drivers
- $400 for one pineapple: The rise of luxury fruit
- Wealthy Americans are starting to spend more carefully
- Universities continue to grapple with pro-Palestinian protests ahead of graduation ceremonies
- More people are turning 65 this year than ever before. That has sparked a gold rush for the retirement industry
- Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
- From Taylor Swift tickets to gasoline — these days everyone feels like they’re being price-gouged. Are they?
- Boeing whistleblower died by suicide, police investigation reveals
- Mercedes-Benz workers in Alabama vote against unionizing in blow to big UAW push
- Dow closes above 40,000 for first time ever
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below the graphic below or click the image and follow the prompts.
Headlines from right-of-center Newsmax – 5.20.2024
- Harvard Poll: Trump Leads Biden by 6 Points Nationally
- Former President Donald Trump leads President Joe Biden by six points nationally in a hypothetical head-to-head race, according to a Harvard-Harris survey released Monday. [Full Story]
- Israel at War
- ICC Seeks Arrest Warrants for Netanyahu, Hamas Leaders
- Trump Foreign Policy Advisers Met Netanyahu: Source
- John Bolton: International Criminal Court Is Bad Idea
- Biden: ICC Arrest Warrants for Israeli Leaders ‘Outrageous’
- Sen: Graham: ICC Arrest Warrants ‘Outrageous’
- ICC Warrants a ‘Sham,’ Say Members of Congress
- How Will Iran President Raisi’s Death Affect Israel?
- Israel Seeks Bipartisan US Support Against Palestinian State
- ZOA’s Morton Klein: Biden ‘Defending Hamas’ Survival’ | video
- David Friedman: Biden Prolonging Gaza Suffering | video
- Newsmax TV
- Karoline Leavitt: Add 2 More Debates, Blood Test
- Donalds: Some Jurors ‘Questioning’ Trump Case | video
- Matt Whitaker: Trump Team Exposing Cohen as Liar | video
- David Friedman: Biden Prolonging Gaza Suffering | video
- ZOA’s Morton Klein: Biden ‘Defending Hamas’ Survival’ | video
- Fred Fleitz: US Must ‘Stand Up to Evil,’ Support Israel | video
- Bernie Moreno: Sen. Brown Policies Hurt Middle Class | video
- Dick Morris: Democrat Base Is Transforming | video
- Scott Walker: Trump Will Stress US ‘Under Siege’ | video
- Newsfront
- House GOP: Immigration Bill ‘Dead on Arrival’
- Calling the bill “dead on arrival,” House Republicans derided the Senate’s attempt for a vote on bipartisan immigration legislation this week as a political ploy, Politico reported Monday…. [Full Story]
- Nasdaq Hits Record, S&P Ticks Higher
- The Nasdaq closed at a record Monday while the S&P 500 gained [Full Story]
- Senate Report: Parts Made With China’s Forced Labor in Cars by BMW, Jaguar, Land Rover, VW
- Harvard/Harris Poll: Voters Want RFK Jr. in Debates
- Voters want to see Robert F. Kennedy Jr. debate President Joe Biden [Full Story]
- Iran President Ebrahim Raisi Dies in Helicopter Crash
- Iranian President Ebrahim Raisi, a hardliner seen as a potential [Full Story]
- Related
- State Dept: Iran Asked US for Help After Raisi Crash |video
- Iran Approves Mokhber as Interim President, Declares 5 Days Mourning |video
- Putin Sends Condolences to Iran Over President Raisi’s Death
- Turkey’s Erdogan Expresses Condolences Over ‘Brother’ Raisi’s Death |video
- Hamas Mourns Raisi, Says He Supported Group Against Israel |video
- European Commission Activates Satellite in Iran President Search
- Who Is Ebrahim Raisi, Iran’s President Whose Helicopter Suffered a ‘hard Landing’ in Foggy Weather?
- Helicopter Crash Could Reverberate across the Middle East, Where Iran’s Influence Runs Wide and Deep
- Michael Cohen Admits He ‘Stole From Trump’: ‘Yes, Sir’
- Former Donald Trump attorney Michael Cohen admitted Monday to jurors [Full Story]
- Related
- Trump: I Should Be Campaigning |video
- Unclear Whether Trump Will Testify at Trial
- Matt Whitaker to Newsmax: Trump Team Exposing Cohen as Liar |video
- Donalds to Newsmax: Some Jurors ‘Questioning’ Trump Case |video
- Prosecution Rests in Trump Criminal Case
- McLaughlin Poll: Majority Want Prosecutions to Stop as Trump Lead Solidifies
- After four years of Joe Biden, Americans know that they are not [Full Story]
- Related
- Trump: Ken Paxton ‘Talented,’ Good Choice for AG
- Harvard Poll: Trump Leads Biden by 6 Points
- WashPost: Gen. Was Wary of US Afghanistan Withdrawal
- The top U.S. general in Afghanistan during the U.S. military’s 2021 [Full Story]
- Ukraine Controls 60% of Kharkiv Border Town
- Ukrainian troops still control about 60% of Vovchansk and are [Full Story]
- Donald Trump Foreign Policy Advisers Met Israeli PM Netanyahu, Source Says
- Three former U.S. foreign policy officials in Donald Trump’s [Full Story]
- Migrants Say They ‘Don’t Want Trump’
- Migrants coming to the United States now say they’re hastening to [Full Story]
- Ivan Boesky of 1980s Trading Scandal Dies at 87
- Ivan Boesky, the financier who was a central figure of the 1980s [Full Story]
- John Bolton to Newsmax: International Criminal Court Is Bad Idea
- The International Criminal Court (ICC) is a fundamentally [Full Story]
- AOC Backs Bill Limiting Donations to Israeli Settlements
- Alexandria Ocasio-Cortez, D-N.Y. is supporting a New York state [Full Story]
- Supreme Court Won’t Hear Md. Gender Identity Case
- The Supreme Court declined Monday to hear a bid backed by a [Full Story]
- Judge Blocks Rule Expanding Gun Background Checks
- A federal judge on Sunday blocked the Biden administration from fully [Full Story]
- Colorado Dem Gov. Polis Fights Space Force Proposal
- Democrat Gov. Jared Polis and most members of the Colorado’s U.S. [Full Story]
- Hall of Famer ‘Mr. Raider’ Jim Otto Dies at 86
- Jim Otto, the Hall of Fame center known as “Mr. Raider” for his [Full Story]
- Hillary Jokes: Trump Right, Dems Will Federalize Abortion
- Hillary Clinton finally agrees with former President Donald Trump on [Full Story]
- Harvard Students Suspended; 12 Won’t Graduate
- Harvard University suspended five students who participated in [Full Story]
- Judge in Trump Docs Case ‘Disappointed’ in Jack Smith
- U.S. District Judge Aileen Cannon, overseeing former President Donald [Full Story]
- Sen: Graham: ICC Arrest Warrants ‘Outrageous’
- Lindsey Graham, R-S.C., on Monday sharply criticized the [Full Story]
- Cruz, Britt Aim to Protect Legal Access to IVF
- Ted Cruz, R-Texas, and Sen. Katie Britt, R-Ala., announced [Full Story]
- Swing-State Senate Dems Running From Biden
- Democrat U.S. senators in competitive reelection races are distancing [Full Story]
- Target to Lower Prices on 5,000 Basic Goods
- Target plans to cut prices on thousands of consumer basics this [Full Story]
- FDA Clears Neuralink Brain Implant for 2nd Patient
- The U.S. Food and Drug Administration has allowed billionaire Elon [Full Story]
- Will Haley Follow Sununu to Trump or Kasich to Biden?
- Nikki Haley is perhaps the highest-profile Republican in the nation [Full Story]
- Russia Will Hold Nuke Exercises at ‘Appropriate Time’
- The Kremlin said Monday that exercises involving non-strategic [Full Story]
- China Sanctions Boeing for Taiwan Arms Sales
- China’s Ministry of Commerce announced sanctions against Boeing and [Full Story]
- Schumer: Senate to Vote on Border Bill This Week
- The Senate will vote this coming week on a border security bill, [Full Story]
- Power Restored to Most Affected by Deadly Houston Storm
- Houston area residents affected by deadly storms last week received [Full Story]
- More Newsfront
- Finance
- Microsoft Kicks Off AI Day
- Microsoft said Monday it would launch a new category of personal computer capable of handling more artificial-intelligence tasks without calling on cloud data centers…. [Full Story]
- Fed Policymakers Still Cautious on Inflation and Policy
- ChatGPT Pauses Voice Sounding Like Scarlett Johansson
- Gold’s Bull Run Is Just Getting Started – And We Have the Math to Prove It
- Is Buffett’s Cash Hoard A Market Warning?
- More Finance
- Health
- Tick Season Is Here: How to Protect Yourself
- Tick season is starting across the U.S., and experts are warning the bloodsuckers may be as plentiful as ever. Another mild winter and other favorable factors likely means the 2024 tick population will be equal to last year or larger, some researchers say. “It’s very bad and… [Full Story]
- Electric Spoon Enhances Salt Taste Without Sodium
- New Blood Test Could Spot Dangerous Type of Stroke
- BP Meds Raise Nursing Home Residents’ Fracture Risk
- Infertility Treatment Raises Postpartum Heart Risks
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below the graphic below or click the image and follow the prompts.
2023 …Berkshire Hathaway is the parent company to Clayton Homes, 21st Mortgage, Vanderbilt Mortgage and other factory-built housing industry suppliers.
· LCI Industries, Patrick, UFPI, and LP each are suppliers to the manufactured housing industry, among others.
· AMG, CG, and TAVFX have investments in manufactured housing related businesses. For insights from third-parties and clients about our publisher, click here.
2022 was a tough year for many stocks. Unfortunately, that pattern held true for manufactured home industry (MHVille) connected stocks too. See the facts, linked above.
====================================
Disclosure. MHProNews holds no positions in the stocks in this report.
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- Note 1: MHVille means manufactured housing industry, MHVille also means artificially smaller manufactured housing (MH) industry,
- Note 2: Manufactured housing, building, factories, retail, dealers, manufactured home, communities, passive mobile home park investing, suppliers, brokers, finance, financial services, macro-markets, manufactured housing stocks, Manufactured Home Communities Real Estate Investment Trusts, MHC REITs.
- Note 3:
APO, Apollo Global Management, BAM, Brookfield Asset Management, BLK, BlackRock, BRK-A, Berkshire Hathaway, BX, Blackstone, CDPYF, Canadian Apartment Properties Real Estate Investment Trust, CIGI, Colliers International Group Inc, CG, The Carlyle Group, CSGP, CoStar Group, CVCO, Cavco Industries, ECNCF, ECN Capital Group, ELS, Equity LifeStyle Properties, FGF, FG Financial Group, FG Communities, KEY, KeyCorp, KMMPF, Killam Apartment REITs, LCII, LCI Industries, LEGH, Legacy Housing, LPX, Louisiana Pacific Corporation, MHC-UN.TO, Flagship Communities Real Estate Investment Trust (REIT), MHPC, Manufactured Housing Properties, MMI, Marcus and Millichap, NOBH, Nobility Homes, PATK, Patrick Industries, SKY, Skyline Champion, SUI, Sun Communities, UMH, UMH Properties, UFPI, UFP Industries.
That’s a wrap on this installment of “News Through the Lens of Manufactured Homes and Factory-Built Housing” © where “We Provide, You Decide.” © (Affordable housing, manufactured homes, stock, investing, data, metrics, reports, fact-checks, analysis, and commentary. Third-party images or content are provided under fair use guidelines for media.) (See Related Reports linked herein. Text/image boxes often are hot-linked to other reports that can be access by clicking on them.)
By L.A. “Tony” Kovach – for MHProNews.
Tony earned a journalism scholarship along with numerous awards in history. There have been several awards, honors and numerous public recognitions for his achievements in manufactured housing. For example, he earned the prestigious Lottinville Award in history from the University of Oklahoma, where he studied history and business management. Kovach is a managing member and co-founder of LifeStyle Factory Homes, LLC, the parent company to MHLivingNews.com and MHProNews. MHProNews is ranked as the runaway most read trade media in modern manufactured housing history. Manufactured Home Pro News (MHProNews) is the documented #1 largest and most read source for manufactured housing industry News Tips and Views Pros Can Use, per Webalizer 2.23 and known data. MHProNews gets millions of visits a year and has significantly more pageviews per visit than CNN or Fox per SimilarWeb’s stats for those two sites (but those sites get more much more total traffic). Statistics Data Infographics Research Facts Evidence and manufactured housing industry expert analysis make us the runaway most read in MHVille trade media. This article reflects the LLC’s and/or the writer’s editorial views and may or may not reflect the views of sponsors or supporters.
