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Monica Baumgarten de Bolle

Monica Baumgarten de Bolle

Economist

Oct 6, 2026

9:20
So I guess we'll get into what's happened over the past year, but what exactly are they reacting to? Are they reacting to something better in terms of those gubernatorial races and that congressional race?
9:31
So exactly, yeah.
9:32
This is where the story is much less about the presidential election than it is about what happened in the gubernatorial races as well as in the congressional ones.
9:42
And there, there was a very clear story.
9:44
So whereas in the presidential elections, you know, the, the story is the same as it's been in the past several years, the story for Congress and governors is completely different.
9:54
And there what we saw was a very clear win, practically a landslide by the Brazilian far right, represented by a party called the PL.
10:06
That's the, the acronym.

7 MINS LATER

17:02
I'd be interested to just get, as we wrap here, your prediction on what might happen there, but also just your thoughts on the future of Brazil because your description is actually pretty concerning.
8:54
So I guess we'll get into what's happened over the past year, but what exactly are they reacting to? Are they reacting to something better in terms of those gubernatorial races and that congressional race?
9:05
So exactly, yeah.
9:06
This is where the story is much less about the presidential election than it is about what happened in the gubernatorial races as well as in the congressional ones.
9:16
And there, there was a very clear story.
9:18
So whereas in the presidential elections, you know, the, the story is the same as it's been in the past several years, the story for Congress and governors is completely different.
9:27
And there what we saw was a very clear win, practically a landslide, by the Brazilian far right, represented by a party called the PL.
9:39
That's the, the acronym.

7 MINS LATER

16:36
I'd be interested to just get, as we wrap here, your prediction on what might happen there, but also just your thoughts on the future of Brazil, because your description is actually pretty concerning.
19:54
Mm-hmm
19:54
...
19:54
there are some people for which the viral loads either increase in severe, severe illness and then stabilize.
20:01
But the main reason why, this is why COVID is so tricky, the main reason why people get severe illness or serious cases of COVID is because of the way the virus interacts with the immune system.
20:14
So for some people, what happens is that the virus throws the immune response completely out of whack, so that your immune system actually attacks your own body, attacks your, your own tissues, attacks...
20:28
It's a systemic virus, so it's in the blood.
20:30
It's circulating in the blood.

15 MINS LATER

35:12
Okay.
4:48
So what's been going on with the Argentinian peso?
4:52
So the Argentinian peso has weakened quite a bit, about 20% over the last few months, and that was due to a number of problems.
5:01
There were political problems.
5:03
There are also some economic problems because even though Javier Milei's reforms have to date done well in- in terms of lowering inflation and other things for the economy, they have also weakened the economy quite substantially.
5:18
So the eco- the economy isn't growing very much.
5:21
There is a very high unemployment rate.
5:24
Um, people are cash strapped, so they're also getting very impatient.

23 MINS LATER

28:34
That actually seems like a, you know, sound geopolitical strategy that ultimately would be good for the United States.
John Yang
John YangCORRESPONDENT
25:57
What is the president trying to advance? What interest is he trying to advance by doing this?
26:03
He's trying to advance two interests.
26:04
So on the one hand, he's trying to prop up what he sees as a political ally.
26:09
So Milei is very much perceived as a political ally of the administration, so there's an interest in keeping him in power and keeping him in office.
26:19
He still has two years to go, um, as president of Argentina.
26:23
And the other, um, the other driving motive here is geopolitical because China is very much involved in Argentina.
26:32
It is actually very much involved in the region as a whole.
John Yang
John YangCORRESPONDENT
27:52
Is there a risk to the, to the United States by doing this?

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