Editorial No. 79 - June 3, 2026

By: New PST

Often, when we assert that Milei's government is crumbling and may even fall, we are met with the objection that there is no major general strike, mass uprising, or even an opposition force capable of consistently confronting it. And it's true: today we don't see any of those phenomena fully developed. However, we are not referring to a single, large-scale event, but rather to a combination of factors that, acting together, are eroding the regime's foundations. Let's examine some of them.

1. Global Economic Crisis:
   We are facing one of the greatest crises in the history of capitalism. This process is expressed in a global trend toward stagflation, that is, the combination of economic stagnation and inflation. To restore its profitability levels, capital needs to destroy productive forces on a scale greater than that observed after the Second World War and deepen the exploitation of the global working class, approaching the labor conditions that prevail in countries like China, Vietnam, or Indonesia.
   Furthermore, since the 2008 crisis, the major capitalist powers have systematically resorted to economic bailouts to save global corporations from bankruptcy. With each of these bailouts—now in their fifth round—a colossal amount of unbacked money is issued, plunging the world into inflation. Argentina is another link in the global capitalist crisis, which is why it is impossible for it to defeat inflation on its own.
2. Argentina's Structural Crisis:
   The Argentine economy is primarily based on agriculture, oil, gas, and mining, sectors that employ barely a quarter of the economically active population. These sectors generate a significant flow of dollars, which is why the government relies on them at the expense of industry, while simultaneously plunging the country into a deep recession to artificially stabilize the dollar and thus control inflation.
   This plan can only be implemented by destroying the country's productive forces: paralyzing construction, closing thousands of factories, businesses, meatpacking plants, etc. It even undermines the very infrastructure required by the sectors favored by the government: ports, roads, airports, etc., are left unmaintained.
   This productive structure reveals a profound contradiction: millions of people are excluded from an increasingly shrinking labor market. Far from reversing this trend, the trade liberalization and deindustrialization policies implemented by the Milei administration exacerbate it.
3. The Collapse of Donald Trump's Imperialist Government:
   The government of Donald Trump, Milei's main ally, is experiencing one of its worst moments. Inflation, unemployment, the massive mobilizations that defeated the racist policies of ICE, and the defeat in the Iran war have caused the image of the US president and leading representative of the "global far right" to plummet to historic lows. Everything points to him losing the midterm elections, which represents a major blow for Milei, who twice survived political downfall thanks to bailouts from the Trump administration.
   The first occurred two months after the $LIBRA fraud scandal broke, through a $20 billion loan from the IMF; the second was after his defeat to Peronism in the Buenos Aires elections, with the purchase of Argentine bonds totaling $20 billion by the US Treasury.
4. A break with traditional bourgeois parties and bourgeois democracy:
   There is a massive, passive resistance movement underway, manifested in low voter turnout and a surge in blank and invalid ballots. The popular sectors leading this movement no longer believe in bourgeois democracy, are breaking with all bourgeois parties, and have no expectations of the upcoming elections.
   A great deal of anger is growing "from below." It is palpable in the streets, workplaces, shops, the media, and social networks. Many of these people may never have participated in a mobilization, but they are expressing an increasingly open rejection of the government and consider the current situation untenable.
   We call this phenomenon, collectively, a Political Revolution.
   Some activist groups view this phenomenon with skepticism because it has not yet translated into large-scale mass actions. But they are mistaken in this assessment; we must take this process very seriously. Our class enemies—the bourgeoisie and the government—as well as the reformist left—in a lamentable role—took note of the crisis and brought forward the election campaign to try to defuse the situation. Discontent is growing, and they know very well that anything could lead to a social explosion.
5. The Crisis of Peronism:
   Within the political revolution, the main process is the masses' break with Peronism. For over 70 years, this pro-business political force has been the main leader of the working class. In recent decades, it governed by managing the capitalist crisis, bearing the primary responsibility for the growth of poverty, job insecurity, inflation, and corruption. This bourgeois party shows no sign of rebuilding; on the contrary, it is sinking deeper and deeper. Today, it is a withered shadow of its former self, and will continue to be so, even with a hypothetical victory for Kicillof.
   Javier Milei's rise to power was a direct consequence of the failure of Peronist governments. Today, while millions face poverty wages, unemployment, job insecurity, social inequality, the rise of drug trafficking, and femicides, Peronism is only concerned with vying for candidacies, state apparatuses, and resources, without lifting a finger against the current government.
   The recent femicide of Agostina Vega in Córdoba ( read more here ) , linked to the power and political operatives of the Peronist Party (PJ), demonstrates just how corrupt this apparatus is, whose leaders and political operatives have always been connected to human trafficking, prostitution, gambling, and drug trafficking.
   Both Peronism and the La Libertad Avanza movement represent different versions of the same capitalist system that only benefits the wealthiest 1% of the population. Meanwhile, the union bureaucracy and the reformist left—the FIT-U and its satellites—are politically subordinate to Peronism, acting as a buffer against social discontent.
   The masses are beginning to draw conclusions from this experience: the solution lies not in any of the variants of the bosses' parties or their internal disputes, but in the independent organization of workers and the people, of women and youth, to confront austerity measures and fight for a true transformation of society.
6. Growth of Mobilization:
   A particularly progressive phenomenon is developing primarily in the provinces: self-organized mobilizations. This process is led by teachers, state workers, and even rank-and-file police officers, although it has also manifested in the province of Buenos Aires—as seen in the self-organized truckers' strike. This entire movement shares a common thread: a break with the union bureaucracy and traditional political parties—including the reformist left—even going so far as to raise slogans such as disunionization.
   This growth is also evident in national mobilizations with a strong presence of opposition political parties. For example, the recent university march, despite being heavily orchestrated by Peronism, the Radical Civic Union, and the reformist left, enjoys considerable sympathy and support from large sectors of the middle and working classes.
7. Growing Inequality and Social Unrest:
   Poverty continues to rise throughout the country, affecting both the working class and large segments of the middle class. To quell the situation and prevent social unrest and looting in working-class neighborhoods, the Milei administration expanded social programs like never before, reaching 6 million beneficiaries—double the number under Alberto Fernández. Direct assistance to the most vulnerable sectors was the only income policy that consistently outpaced official inflation.
8. Internal Government Conflicts and Corruption:
   Finally, there is a crisis within the ruling party, manifesting itself in various internal political disputes. Corruption and these internal conflicts are tearing the government apart, and in response, the entire opposition apparatus is rushing to form an electoral alternative.
   This crisis is also reflected in sectors of the bourgeoisie itself, especially in factions linked to industry, which are beginning to distance themselves from the government and support opposition alternatives. This process reveals increasingly deep fissures within the dominant classes and contributes to exacerbating the overall political instability.

Now that we have a complete framework of the crisis, we can say that we are in a position to analyze the policy of the majority of the reformist left, mainly the FIT-U and its main representative, the Socialist Workers' Party (PTS).

Federal University March

Can the left govern and achieve socialism through elections?

The early election has sparked a debate among activists and in the media about whether the left can govern. This discussion began following the results of recent polls, which indicate a rise in support for the FIT-U (Workers' Left Front - Unity), as well as increased approval for Myriam Bregman, who currently leads the rankings in positive image.

The latter point shouldn't be taken too seriously, considering that in 2023, that same list was headed by Rodríguez Larreta, with a 49% approval rating and a projected electoral ceiling of 42%, ahead of Milei and Massa. What we should take very seriously, however, is the debate itself, as a thorough analysis reveals the true politics of these organizations.

To address this issue, we will start with an interview that María O'Donnell and Ernesto Tenembaum conducted with Myriam Bregman on the YouTube channel Cenital.

In that interview, Bregman states that "if the process is through voting and people trust that mechanism, we have to see it through to the end ." With this statement, he is telling the masses that the left can come to power and build socialism through elections. We want to make it clear that there is no possibility of that happening. The left can have a good election, win more seats in Congress, and expand its parliamentary representation, but nothing more.

The electoral system is a fraud orchestrated by the bourgeois state, preventing left-wing parties, whether revolutionary or reformist, from coming to power. One example suffices: it is impossible for the left to have a poll watcher at every voting table to guarantee effective oversight of the electoral process. This requires a massive apparatus, like those possessed by bourgeois parties—such as La Libertad Avanza, Peronism, and PRO—capable of operating in every town, city, and province across the country.

But even if we assume the left were to come to power, the bourgeoisie would mobilize the army and, within days, a coup d'état would take place. There is no other way to confront such a situation than by building dual power structures led by the workers and the people, like the soviets in Russia or the industrial belts in Chile. However, for the reformist left of the FIT-U, gaining seats in parliament seems to be more important than building working-class power.

The other falsehood contained in that statement is the idea that "people trust" the "mechanism" of voting. Since 2021, abstention, blank votes, and null votes have been increasing in Argentina. In the last elections, only 67% of registered voters cast ballots, the lowest turnout since the return of democracy in 1983 for midterm legislative elections. As we pointed out at the beginning, there is a process of rupture among broad sectors of the masses with bourgeois democracy. Bregman, on the other hand, calls for trust in it.

Later, he argues that a Constituent Assembly must be convened—one that is free, sovereign, and addresses all the country's problems . The Constituent Assembly is the most democratic bourgeois institution a bourgeois democratic regime can offer. However, what Bregman fails to clarify is that, like elections, it is also a mechanism dominated by the bourgeoisie. There is no way to defeat them on this terrain when they control all the levers of the state to secure a majority, and, moreover, have the backing of the army. In other words, Bregman suggests that, should they win the elections, they would ultimately return power to the bourgeoisie itself.

Later he states: "What we want to do is discuss each and every one of those measures. For example, what to do about vacant housing. But that's done in Berlin, you know. Not under socialism ." What he's trying to convey is that the Left Party government in Germany managed to solve the housing problem, or at least adopt the right measures, without breaking with capitalism.

However, this is false. In Germany, the housing crisis affects millions of people and forces more than 9.5 million to live in precarious conditions. Furthermore, Chancellor Olaf Scholz's plan to build 400,000 homes per year ultimately failed.

There is no possibility that capitalism will solve the housing problem, much less in the context of an international credit crisis. While selling illusions to the masses, Bregman is echoing a similar approach to that used by New York City Mayor Zohran Mamdani, whose main campaign promise was to freeze rent increases for four years in rent-controlled apartments, representing approximately one million units, or about 40% of the city's total housing stock ( read more here ).

In short, Bregman's entire discourse is riddled with falsehoods that, at the same time, seek to make it clear to the bourgeoisie that, should he ever come to power, it would not be to build socialism, but to preserve his dominance. The PTS does not fight for the power of the working class; it merely engages in electoral campaigning.

The PTS and the FITu replicate the same policy as the US DSA

Faced with the deepening government crisis and the leftward shift of broad sectors of the masses, the PTS proposes forming "committees alongside Myriam Bregman." This type of top-down approach might be valid for a bourgeois party like Milei's, but it has nothing to do with building a revolutionary party. In fact, they have all stopped chanting slogans about power, such as the one that calls for "a workers' and people's government."

A revolutionary party has an obligation to integrate itself into the heart of the working class, its factories and unions, in order to win over its most advanced sectors. This is a process that requires patient and sustained work, but above all, it can only be developed through the broadest possible workers' democracy.

Zohran Mamdani

In its 38 years of existence, the PTS has failed to lead the main unions or gain decisive influence among the working class. The primary reason is its failure to develop workers' democracy; on the contrary, it has systematically pursued a sectarian and opportunistic policy that has led to the failure of numerous labor struggles. However, this is not a problem unique to the PTS. It is the same orientation shared by all the parties of the FIT-U; it is the same policy they implemented in FATE, the results of which are evident today ( read more here ).

This opportunistic and desperate policy has much in common with the orientation of the Democratic Socialists of America (DSA) in the United States. This organization orchestrated the election of Zohran Mamdani, a member of the imperialist US Democratic Party, to the New York City government through one of the largest political campaign operations the city has ever seen.

Mamdani's central strategy was the mass recruitment of volunteers to canvass neighborhoods door-to-door. The campaign began with a small core of approximately 27,000 people and ended up mobilizing nearly 100,000 volunteers toward the end of the electoral process. This policy of "parallel construction," promoted by the Progressive International, perfectly reflects the reality of the FIT-U parties, whose connection to the working class and the masses is extremely limited. The "Myriam Bregman support committees" represent a desperate attempt to replicate this same bourgeois policy.

PTS campaign for the "Myriam Bregman support committees"

The FIT-U is proposing to activists that, faced with the government's terminal crisis, the central task is to build support committees for the PTS and its main figures, such as Myriam Bregman and Nicolás del Caño. We oppose this policy. The solution lies not in strengthening the PTS party apparatus, but in confronting the union bureaucracy; it lies not in organizing permanent electoral campaigns, but in promoting the mobilization that self-organized teachers and public sector workers are currently carrying out in various provinces, confronting both the union bureaucracy and the Peronist leadership.

The solution is to develop genuine dual-power bodies led by the working class and to strengthen independent workers' organizations. The solution is to prepare the conditions for a new Argentinazo.

The other FITu parties are pressuring the PTS for positions

Following its surge in the polls, the PTS is attempting to break away from the FIT-U and leverage Bregman's rise to prominence to either build a new party or strengthen its own. The other FIT-U parties responded to this maneuver by emphasizing the left's need to govern. However, this entire discussion is a sham; it's essentially a demand, a way of telling the PTS, "Don't go it alone, we want our share of the seats."

This is why Izquierda Socialista is calling for an "urgent meeting of the FIT-U table" where—among other things—it proposes to discuss "the proposal of the comrades of the PTS leadership that is being publicly disseminated about the construction of a 'Movement for a Party of the New Working Class' and which has not yet been brought to this table by the PTS ," and continues, " We are concerned about the reiteration of unilateral political actions by the PTS leadership" (...) "the decision to launch this campaign for a new party without even having the possibility of knowing what it is about and what role the other forces of the FIT-U would have."

And why do we say that the debate surrounding whether the left should govern is a sham? Once again, the Socialist Left provides the answer. This reformist party knows perfectly well that it is impossible to achieve socialism through elections; it lies when it says that "the left can and must govern ." This has just been confirmed in Bolivia, where a workers' revolution is cornering the capitalist government of Rodrigo Paz Pereira ( read more here ). There, they are calling on the Bolivian Workers' Central to seize power only to then hand it over again for "a call for free and democratic elections" —in other words, to return power to the bourgeoisie.

The MST took a similar stance, holding a four-day congress (!) whose main resolution was to join the support committees for Myriam Bregman. The Workers' Party followed the same line, albeit with cosmetic differences: at its 30th congress, it resolved "to propose to all the parties of the FITU the convening of joint committees in workplaces, schools, and working-class neighborhoods, culminating in a National Assembly of the FITU to promote the struggles and debate a program to overcome the current crisis . "

All these parties have adapted to the bourgeois regime. Deep down, despite their differences, they share the same political agenda as the PTS. Even marginal parties like Socialist Way or Socialist Convergence are telling the PTS that the left must govern through elections. As explained above, there is no possibility of this happening. The situation would be different if they formed a popular front in alliance with sectors of the bourgeoisie like Peronism, but for this to occur, they would have to further deepen their disintegration, something we cannot rule out happening in the future.

What's the way out?

The left wing of the FIT-U has prioritized electoral politics for over 10 years, neglecting grassroots organizing within the working class. These parties no longer lead anything significant, and what little they do lead ends in defeat. Their connection to the working class is almost nonexistent; they have even suffered a steady decline in membership. They have abandoned sound organizational development with independent state funding and have instead increased the number of paid activists.

This reformist and social-democratic policy has made them dependent on the state apparatus; if they are deprived of state revenue, their parties collapse. This is why, when the masses move to the left, breaking with bourgeois democracy and putting the regime in crisis, the FIT-U and its satellites do the exact opposite: they bring forward the electoral campaign—even surpassing the bourgeoisie—, they bring politics into parliament, they go to the bourgeois courts to file injunctions every time there is a dismissal, they take conflicts to mandatory conciliation arbitration, and so on.

However, there has been a significant shift in the consciousness of the masses: the improvement in Myriam Bregman's image reflects this. But so does the growth of self-organized movements, which, instead of relying on elections, take to the streets to confront the government, setting a powerful example of workers' democracy and class independence. The same must be said of a significant segment of the population that, in the last elections, chose not to vote or cast blank or invalid ballots. It is to all these sectors that are breaking with bourgeois democracy and see no solution in waiting for the 2027 elections that we must turn our attention; it is our duty as revolutionaries to offer them a way out.

We don't deceive the masses with a social-democratic solution like the electoral path. To defeat Milei and end hunger, poverty, and capitalist inequality, the workers and the people must fight to establish their own government. We must support the struggle of self-organized movements and encourage them to form their own governing bodies. We must not "impose from above" as the reformist left does. We must increasingly promote workers' democracy to wrest control of the unions and labor federations from the corrupt union bureaucracy.

To further this task, we invite you to be part of our party, the New-PST.

• Down with Milei's capitalist government!
• Down with capitalist Peronism in any of its forms!
• No support for the "committees alongside Myriam Bregman"!
• Let's promote workers' democracy and let the workers decide what their fighting organizations are!
• For a new Argentinazo! Let's do it like in Bolivia!
• For a workers' and people's government!