There are two things that no one would have predicted on July 1st. First, that the Texas Rangers would win the World Series on Bruce Bochy's first season back from retirement. Second, no one in Argentina thought that Javier Milei would be sworn in as President. Well, the Rangers are champs and Javier Milei won a landslide election.

Down in Buenos Aires, President Milei addressed his country for the first time. He did not hold back:

"The Argentines have overwhelmingly expressed a will for change that has no return. Today we are burying decades of failure and senseless disputes," he declared. 

Most Argentines agree, but the question is: how does he do it? The new president gave us an idea with the speech:

The new president's speech mixed a doom-laden assessment of the state of play with claims that freedom and liberty would lead Argentina to prosperity. Milei said he was sure that his path is the only way forward.

"At the beginning of the 20th century we were the beacon of light of the West. We received millions of immigrants escaping from a devastated Europe. But then the impoverishing ideas of collectivism were embraced and for more than 100 years politicians have insisted on defending a model of poverty, stagnation and misery," said Milei.

However, "that model has failed," he declared, calling his election "a turning point in our history."

Milei sought to highlight Argentina's economic decline. Inflation has hit almost 140 percent year-on-year and today, 40 percent of the population lives in poverty.

"Much has been said about the inheritance we are going to receive. Let me be very clear: no government has received a worse inheritance than the one we are receiving" he analysed.

Highlighting that strict austerity measures were imminent, Milei said that the "solution" to economic decline "implies a fiscal adjustment in the national public sector of 5 points of GDP that will fall entirely on the state and not on the public sector."

Warming to his theme, he warned that Argentina would face an annual inflation rate of "15,000 percent" unless it took action.

"The outgoing government has left us with hyperinflation," Milei said. "There is no alternative solution to adjustment."

"All the shock programmes, except the one in 1959, were successful," he said confidently. "Gradualism requires financing."

"There is no money," he declared to applause and chanting from supporters.

"The only way to escape poverty is more freedom," Milei told the nation.

"We know that all is not lost. It will not be easy. One-hundred years of failure cannot be undone in a day, but one day we begin, and today is that day," the president declared to applause.

I heard portions of the speech in Spanish and his demeanor was assertive but realistic. His line about there is no money got the loudest applause. It's obvious that many agree because all they have are inflated and worthless pesos.

The new president does not have a majority in Congress. His party has 40 of the 257 seats in the Chamber of Deputies and 7 of 72 senators. The Peronist opposition has 105 deputies and 33 senators. That will present a few hurdles.

What President Milei does have is a landslide election and people fed up with their economic situation. So we will watch what lies ahead because the future of Argentina is on the line.

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Image: Vox España