99% loss of value in peso in my time, momentous day

[SanTelmoForever]

Unless you track the US dollar against some sort of imaginary absolute, I dont see how this makes any difference.
The Peso devaluated against the dollar.
But the dollar devaluated against the dollar, too, over that time period.
I suppose if you did some sort of calculation of the imaginary spending power of the dollar in 2000, vs today, then did the same for the peso, then calculated how that is affected by the peso/dollar rate, you could get a more accurate rate of purcahsing power of peso vs dollar-
but Where?
obvioulsy, the dollar goes farther in argentina than in the USA, but all the online dollar then versus now calculators are just based on imaginary US buying power.
I know that I am in the USA right now, and the fact that I can buy more pesos is completely irrelevant- EVERYTHING in the US is much more expensive these days, and the official inflation rate doesnt count the reality on the ground.
My friends in Argentina who make very little still can afford a better lifestyle than my friends in big US cities who make tons of money.

What's your point?

One thing has nothing to do with the other.

 

[Reply Guy]

Americans sure love making everything about the US.

 

[TWB103]

My friends in Argentina who make very little still can afford a better lifestyle than my friends in big US cities who make tons of money.

Unlike some here who live in their bohemian middle class bubbles I know very well how the ordinary working class are suffering in Argentina especially those 'en negro'. It's insulting to the majority to say Argentines have it better than Americans. The US is in decadence and things have no doubt got much more difficult in recent years but being poor in the US is not the same as being poor in Argentina. Why are increasing millions of people crossing the US border illegally each year?

 

[TonyTigre]

Unlike some here who live in their bohemian middle class bubbles I know very well how the ordinary working class are suffering in Argentina especially those 'en negro'. It's insulting to the majority to say Argentines have it better than Americans. The US is in decadence and things have no doubt got much more difficult in recent years but being poor in the US is not the same as being poor in Argentina. Why are increasing millions of people crossing the US border illegally each year?

I believe you and Ries are both correct, especially if you actually compare apples to apples and oranges to oranges, and take into account that certain things are subjective. There's of course also the concept that the grass always look greener on the other side of the fence. Bottom line, it really depends on which group of working class workers and which cities are being compared. Union vs. non union workers, housing cost of the city, pension vs. no pension, amount of over-time work expected or required, amount of vacation days, health insurance plan offered, etc...
If you live in a big city in the US and makes just a little too much to qualify for free health insurance, has to pay market rent (not public housing/ not rent stabilized/ no subsidies), not a union job, no pension plan,... someone in Argentina doing that same type of work as you might have a better lifestyle and less stress.

 

[Ries]

What's your point?

One thing has nothing to do with the other.

the subject is how many pesos you get for a dollar. Its meaningless unless the dollar stayed exactly the same "value" forever. Which it doesnt.
basic economics.
And if the subject is "dollars" then, by definition, the subject touches upon the US economy, and the reasons why it varies in value against the peso.
I just get tired of reductionist memes.

 

[Reply Guy]

I believe you and Ries are both correct, especially if you actually compare apples to apples and oranges to oranges, and take into account that certain things are subjective. There's of course also the concept that the grass always look greener on the other side of the fence. Bottom line, it really depends on which group of working class workers and which cities are being compared. Union vs. non union workers, housing cost of the city, pension vs. no pension, amount of over-time work expected or required, amount of vacation days, health insurance plan offered, etc...
If you live in a big city in the US and makes just a little too much to qualify for free health insurance, has to pay market rent (not public housing/ not rent stabilized/ no subsidies), not a union job, no pension plan,... someone in Argentina doing that same type of work as you might have a better lifestyle and less stress.

It's argument that happens here all the time on this board and can't be "won" because everyone has anecdotal examples to back their our own world view.

Even if they are presented with facts counter to their beliefs, they will dismiss them and say it's made up because of a personal experience that they had, or a viral video.

 

[Jimbob]

Unless you track the US dollar against some sort of imaginary absolute, I dont see how this makes any difference.
The Peso devaluated against the dollar.
But the dollar devaluated against the dollar, too, over that time period.
I suppose if you did some sort of calculation of the imaginary spending power of the dollar in 2000, vs today, then did the same for the peso, then calculated how that is affected by the peso/dollar rate, you could get a more accurate rate of purcahsing power of peso vs dollar-
but Where?
obvioulsy, the dollar goes farther in argentina than in the USA, but all the online dollar then versus now calculators are just based on imaginary US buying power.
I know that I am in the USA right now, and the fact that I can buy more pesos is completely irrelevant- EVERYTHING in the US is much more expensive these days, and the official inflation rate doesnt count the reality on the ground.
My friends in Argentina who make very little still can afford a better lifestyle than my friends in big US cities who make tons of money.

Yeah, you can see them feeding Unicorns in parque barrancas of an afternoon ffs

 

[Agribotics]

For leftists no amount of inflation matters, no tax is too high, no spending too great, and no debt too much. It's the hot air that keeps their world view up.

 

[earlyretirement]

This post brings back memories. I remember when I first moved to Argentina in 2003. The exchange rate was actually less than 3 pesos to $1 US. 100 peso bills were actually worth something.

For many years it was actually fairly stable. It's been wild watching how horrible the economy is there. I've said it before and I'll say it again, short of some country invading Argentina and blowing up all the laws and systems and starting all over from scratch...... I don't see any possibility of systemic change for Argentina. It's broken.

The best you can do is hold your savings in another stable currency and just exchange as needed. And hope to God you can find some work where you can earn in US dollars. Many, many friends that have hung in there and stayed in Argentina have finally threw in the towel and moved out of the country to Spain.

Historical exchange rates of Argentine currency - Wikipedia

en.wikipedia.org

 

[TejanoExpat]

For leftists no amount of inflation matters, no tax is too high, no spending too great, and no debt too much. It's the hot air that keeps their world view up.

Smug Brit "humor" that is meaningless, adds nothing of substance