Originally Posted by Gaucho100K

:
I blame the British for all of this,

Originally Posted by Gaucho100K

What is the definition of "most" people....? And since when does a majority opinion equate to being right about something....???

In Economics, there is no such thing as magic. The Populist Kirchner Regime gave away approx 12% of GNP per year on subsidies that killed proper energy consumption habits and gave many people the illusion that they suddenly had money in their pockets for things they could not afford. After 12 years of this nonsense, it has come time to PAY THE BILLS. 1 + 1 is 2, its not 2.1 and its not 2.5, its 2... this is math, its quite simple.

Armchair comments are very easy and amusing, but they almost never make much sense. The Fed has started to raise interest rates and that is a very strong external component that is a very relevant part of the Peso's current movements. This situation is of course compounded by the fact that Argentina (sadly) doesnt have much of a Currency, and even lower classes here know that they are not to save in Pesos.... and this is also another factor that adds pressure to the overall situation.

Hiddy hits the spot.... mentality has to change but that takes generations, and is a slow and many times (painful) process. In the end, I blame the British for all of this, but that is part of a bigger theory of mine that involves deep knowledge of Argentine History so I will leave this at that for now......

Originally Posted by MSPeconomist

Originally Posted by Siempre Viajando

Argentines can feel fortunate that although the peso is not "much of a Currency", at least the situation hasn't deteriorated like in Maduro's Venezuela! One can speculate about what might have happened had Cristina and her cronies stayed in power, but the institutions of the government of Argentina proved strong enough to prevent this from happening.

You might look to Perú as an example of a Latin American country that has done well in the last twenty years to restore faith in the local currency. After two rounds of hyperinflation in the 1980s, the government of Alberto Fujimori stablized the currency (the Nuevo Sol) and subsequent governments, corrupt and feckless as they may have been, have more or less stuck with the plan. The Nuevo Sol is fully convertible, currency controls are a thing of the past and the exchange rate vis a vis the US dollar, Euro, etc., is stable enough in the long term that Peruvians, rich and poor alike, don't need to worry about rushing to the bank to buy dollars the same day they receive their paycheque in local currency.

I wonder why this has not yet happened in Argentina? Perhaps because there hasn't been the right sort of leadership in the Casa Rosada, but I suspect the real reason is more deeply cultural, as Gaucho100K notes.

Originally Posted by MSPeconomist

Originally Posted by ticino

We spent a week skiing in Argentina in July and managed to get by almost exclusively with European credit cards. The only two times we couldn't use our credit cards were to get tickets to visit the arrayanes forest and to park our car in the skiing resort. Everything else we paid with credit cards.

Originally Posted by Gaucho100K

Just to clarify..... credit cards are credit cards, no merchant here will make a difference based on where the Card is issued.... as long as its Visa, MC or AmEx you are good to go.

Originally Posted by ticino

True, but ATMs sometimes do. We couldn't use our European cards (we tried both debit/credit and tied to two different currencies/banks/countries) to get pesos, but Uruguayan credit cards worked fine so it wasn't that the ATMs were out of money.