Argentine Economy

[Frankols 70]

Before this decade is over, the residents of Recoleta and Palermo will be making asadas with their golden retrievers.

You can still have a good time for now, but be careful!

The problem with socialism is that you eventually run out of other people's money.

https://www.youtube.com/watch?v=U-x2yEmUFXA

[Seismo]

You are correct. Now that the World Cup is over some other distraction must come into play.

Although I do not live in Buenos Aires, I have been vacationing there since the $USD was at par with the peso. I spent all of January in BsAs and was appalled at what I saw. The downtown area is in shambles. Calle Reconquista ,which had many great restaurants and bars is almost completely vacant. Mattresses line the streets and doorways for the homeless.

Other areas have become equally as blighted. Very little seems to have recovered from the pandemic.

My prediction is that Argentina is no more than five years away from becoming the next Venezuela. Attitudes have very much changed. The formerly pleasant middle classes are now walking around in a foul mood. Petty crime is abundant. I witnessed purses and cellphones get snatched multiple times.

Before this decade is over, the residents of Recoleta and Palermo will be making asadas with their golden retrievers.

You can still have a good time for now, but be careful!

[Local]

Argentina is saber-rattling over the Malvinas, again. This must mean that things on the domestic front are getting really bad. Any of you local's have opinions of the current state of affairs?

You talking to me?

[Wild Walleye]

Argentina is saber-rattling over the Malvinas, again. This must mean that things on the domestic front are getting really bad. Any of you local's have opinions of the current state of affairs?

[Wild Walleye]

Can you guys confirm that price listing?

https://www.expatistan.com/cost-of-living/buenos-aires

Good reference. Thanks for posting.

[MataHari]

Can you guys confirm that price listing?

https://www.expatistan.com/cost-of-living/buenos-aires

[Jim Bob]

The price of pussy is not directly attached to the exchange rate, as the pussy is not used up like for example gasoline you can keep selling the same pussy over and over so the cost of pussy is imaginary and based entirely on the woman's immediate perceived needs for money or luxury items. The locals also have some limits of what they can pay for pussy, so it is not surprising that the cost pf pussy remains at a certain peso rate despite decrease in the value of the peso. Of course high end girls charging USD prices are just pulling a number out of a hat also. Just counter a USD price with a peso price reflecting an exchange rate of a year ago these chicas are often not math wizards they may go with a much lower peso price. Of course some will pull out their phone and do a calculation. But ultimately the price of pussy is largely imaginary so it won't always tack real prices.

FYI -.

Of the three Independent girls I have seen recently, two have kept their price the same as 8 months ago and one increased her rates by about 15%, three months ago (she is high end). I did not question it, but would suspect it is due to the peso drop. And this was before the additional drop last week. I have also seen a few changes in restaurant prices, but to be honest, I don't pay that much attention to what each item costs.

Not sure if that helps you or not. Cheers!

.

[Wild Walleye]

Large normal coffee 70$.

Yuppie coffees as high a 335$.

Regular coffee with a ham and cheese on toast 145$.

Prices as of today, hope this helps.

Thanks, that does help.

Bs As prices converted to USD:

Coffee: $1.82.

Yuppie coffee: $8.71 (yikes! Glad I am not a yuppie).

Reg coffee with ham/cheese/toast: $3.51.

For comparison, down the road, in the US (at Dunkin Donuts (their coffee sucks)):

Coffee: $1.89.

Yuppie coffee: $4.19.

Reg coffee with ham/cheese/toast: $5.89.

1 hour with a 6/7: $250.

I am guessing that Starbucks is only popular with foreigners and the wealthy.

The Argie Peso is starting to remind me of the Italian Lira, circa early 1980s. The key tipping point is when things get really cheap.

[Jim Bob]

I had a café con leche with two medialunas for $40 pesos yesterday at Once Station, the exchange rate was 37 pesos to the dollar or something like that so I guess that equates to $0.50 for a cup of coffee if you attribute half the cost to the medialunas. I see similar deals for two medialunas and a café con leche $70 everywhere which I guess equates to $1 for a cup of coffee. I did not check at Starbucks, Starbucks is selling a brand not just a coffee, probably prices will be much higher at tourist spots.

Large normal coffee 70$.

Yuppie coffees as high a 335$.

Regular coffee with a ham and cheese on toast 145$.

Prices as of today, hope this helps.

[Gandolf50]

Large normal coffee 70$.

Yuppie coffees as high a 335$.

Regular coffee with a ham and cheese on toast 145$.

Prices as of today, hope this helps.

[Slipknot]

Thanks. Yes, I am trying to get a grip on real prices. So, if I go to La Biela and am having my doble cortado and demi lunas, whilst contemplating getting some honey on my stinger, what are the prices? I have plenty of references from past time in Bs As. I am more curious to know if a cup of coffee is $0.50 or $2.00. How much is a pack of smokes? What is 30 mins at a privado?

Cheers.

FYI -.

Of the three Independent girls I have seen recently, two have kept their price the same as 8 months ago and one increased her rates by about 15%, three months ago (she is high end). I did not question it, but would suspect it is due to the peso drop. And this was before the additional drop last week. I have also seen a few changes in restaurant prices, but to be honest, I don't pay that much attention to what each item costs.

Not sure if that helps you or not. Cheers!

[Wild Walleye]

Hey, W Squared .

I see that youre trying to get a handle on BsAs real-world inflation too.

What I do is get on the Coto Grocers website and look at the price of food staples (frequently updated). I then compare those prices to what I was paying during Dec of 17 (peso/us$ @ 19). For me, the price of domestic cheese, orange juice, milk, Coke/Pepsi is a good indication. I buy a lot of this during extended stays. Notwithstanding sales prices, I find that these items are pretty much the same as they were in Dec.

If you dont already have a price reference point, you can always start one. E.g. On day one note the Coto grocery item price, and compare it that price on, say, day 45.

Hope it helps!

Thanks. Yes, I am trying to get a grip on real prices. So, if I go to La Biela and am having my doble cortado and demi lunas, whilst contemplating getting some honey on my stinger, what are the prices? I have plenty of references from past time in Bs As. I am more curious to know if a cup of coffee is $0.50 or $2.00. How much is a pack of smokes? What is 30 mins at a privado?

Cheers.

[Macgoo]

Hey, W Squared .

I see that youre trying to get a handle on BsAs real-world inflation too.

What I do is get on the Coto Grocers website and look at the price of food staples (frequently updated). I then compare those prices to what I was paying during Dec of 17 (peso/us$ @ 19). For me, the price of domestic cheese, orange juice, milk, Coke/Pepsi is a good indication. I buy a lot of this during extended stays. Notwithstanding sales prices, I find that these items are pretty much the same as they were in Dec.

If you dont already have a price reference point, you can always start one. E.g. On day one note the Coto grocery item price, and compare it that price on, say, day 45.

Hope it helps!

I believe that we are starting to see this take place. The currency has been crushed, recently.

What is happening to prices? What are you guys paying for a cup of coffee, empenadsas and poontang?

[Wild Walleye]

...and in order for things to "normalize" the devaluation of the peso needs to exceed inflation...

I believe that we are starting to see this take place. The currency has been crushed, recently.

What is happening to prices? What are you guys paying for a cup of coffee, empenadsas and poontang?

[Wild Walleye]

Plus bureaucratic and legal issues. I looked at taking a stake in a business down there about a year after Macri came in. Small deal, nothing like a forex play, but oh boy the fuckery. Lets just say the accounting was ... Artistic, and not because they were bad guys, but hiding money and greasing skids are accepted parts of competition.

I still dig around while I'm there, if only to make the trip a write off and get plugged into the city. But anything that matters involves significant inside baseball and most official interactions are an adaptation of "Esprando a Godot." Sorry Argentina, I'm not sophisticated enough to price that sort of risk.

That said, there are still strong underlying strengths, and by underlying, I mean deep in the bucket. Highest regional broadband penetration, a relatively educated population, a ton of unexploited minerals, oil, and gas. 50% of the country doesn't have a bank account, Still the most culturally significant country in South America. How they unlock all that I have no idea.

Broadband is nice, but not the great equalizer it was promised to be.

As for natural resources, Brazil owns most of Argentina's.