Do you fear a crash similar to 2001?

[perry]

It's good to hear from the perspective of someone that grew up there, but all the issues you mentioned are widespread in Argentina. Drug abuse? Gambling? Lack of democratic principles and dishonesty? Come on...

And, again, high cost of living. What things cost does not actually matter as much as what your purchasing power is. How long does the average aus have to work to purchase X compared to the average arg? I'm aware Australias minimum wage is somewhere around $17aud an hour. Argentina's is $3. Highly likely less than that. I don't mean to disagree with you for the sake of it, but Australias social problems are a joke next to the situation Argentina has been in for over 70 YEARS.

Have you ever or do you work for $600usd a month in Argentina or less? Are you aware of how miserable life is on an average wage here? Many Argentines work very long hours too, but for much less than Australians, and they certainly pay the same and more for goods in developed countries.

Im not denying your claim that life in AUS is not what it used to be, but there should be no comparison that if life was even half as good in Argentina for the average person as it is in AUS many would be moving here. And, honestly, no one really does long term.

I agree with you that life in Australia for many is better economically that Argentina but my point was that Australia has a very high cost of living where rentals can be US$ 2000 a month for a normal apartment . The goverment of Australia imho is very corrupt either though it sells itself as clean as lily white . Gambling is completely out of control and the drug problems are now the shame of the western world . You really believe that if a government wants to clean up these two problems it cannot?

Im my extensive travels around the world the happiest people are those who live with dignity in a beautiful setting . I was recently in the jungles of Peru and found that the people in remote places seemed happy from the depths of their souls due to living within the beauty of nature , with a roof over their head, abundant food and water . Sure they had little material benefits but they did not know what they were missing out on and they derived their happiness from the beauty of natures rhythms. Now compare this to someone living in a brutal environment in a slum , with very high crime rates, and overcrowded chaotic conditions . Many people in the western world may have a good wage in US dollars but their costs of living make them a slave to the system . US$ 600 in Argentina is equivalent to US$ 1500 in Sydney or US$ 1800 in Hong Kong . Rentals in Sydney or Hong kong are close to three times dearer than Buenos Aires and this is fixed cost . You can live without buying the latest gadgets or clothing but rental you must pay si o si .

I can assure you that close to 500 thousand sydneysiders ( citizen of Australia) earn only US$ 1,000 a month after taxes . Sydney has a tremendous amount of homeless people ( more than Buenos Aires ) and a drug problem that is equal to Vancouver or San Francisco all terribly blighted by their addictions to crystal meth , heroin , and other drugs .

The social security and medical systems in Australia are vastly superior to Argentina and for this reason someone who is not working does not need to emigrate to another country as you are guaranteed AUS $ 1000 a month for not working . Saying that there are a tremendous amount of rif raff on the streets begging agressively and living rough its no paradise . They cash in their welfare checks and within a few days they are skint again . The welfare system does not create self reliancy ,

Argentina has tremendous problems as well but the reality is that people are much less materialistic than most and the working class lives on much less ( because they are not conditioned to buy buy buy like most western societies ) Has it got worse in the last years yes
but compared to other larger cities in the western hemisphere its not such a rat race .

 

[perry]

That is a crap conclusion, all Europeans you mention, also the fuzzy Swedes are more materialistic than Argentines. In Europe people live in a rat race where they borrow a lot of money to buy a house, a car, holidays etc. so they can pay off their debt until they retire. Argentines spend what they have, before inflation devalues their money. Europeans spend what they have and more, they live on credit. Not as bad as in the US and China, but worse than in Argentina for sure. How much debt do Argentinian households have? The debt per household would probably be a better indicator of "materialism".

The indicator you refer to is a bad indicator for materialism, it may be a valid indicator for inequality though.

Italian women less materialistic than Argentinian women hahaha, you do not know the difference between them...

Great concise post . The reality is that Argentinians have low personal debt but of course this is changing the last years with the explosion of easy credit and mortgages . I travel a lot of the south of Argentina to the provinces of Chubut , Rio Negro etc etc . Most people there live with the minimum but bring up their families with the best care they can . I know a family from Lago Pueblo Chubut that earn maybe 10000 pesos per month and its the happiest family I have seen in my life as they have beautiful nature , grow their own food, have free water and solar power.

 

[Idois]

That is a crap conclusion...The indicator you refer to is a bad indicator for materialism, it may be a valid indicator for inequality though....Italian women less materialistic than Argentinian women hahaha, you do not know the difference between them...

I shared the results of the survey, not my opinion.
You appear to be opinionated about the topic.
Do you have any data to share that are not contaminated by your cognitive bias? Any stats about the validity of the indicator used in the survey which can back up your opinion?

 

[wrangler]

That is a crap conclusion, all Europeans you mention, also the fuzzy Swedes are more materialistic than Argentines. In Europe people live in a rat race where they borrow a lot of money to buy a house, a car, holidays etc. so they can pay off their debt until they retire. Argentines spend what they have, before inflation devalues their money. Europeans spend what they have and more, they live on credit. Not as bad as in the US and China, but worse than in Argentina for sure. How much debt do Argentinian households have? The debt per household would probably be a better indicator of "materialism".

The indicator you refer to is a bad indicator for materialism, it may be a valid indicator for inequality though.

Italian women less materialistic than Argentinian women hahaha, you do not know the difference between them...

You can't be serious? Please. Are you pretending for a moment that Argentines have the same credits available that they have in Europe or USA. Of course, they don't use as much credit here, because there is way less credit available.

There are materialistic women all over the world, from all types of nationalities. That's just the way it is.

 

[perry]

https://www.zerohedge.com/sites/default/files/inline-images/fx denom debt edwaerds.jpg?itok=jweYINub

Look at these figures and be shocked. Argentina debt is the only one on the list to be over 70 percent goverment debt. This is a very telling statistic.

 

[perry]

The debt that we have now is not financial sector or personal debt which is the main case of all the other cases in the list attached. Do you understand the importance of this statistic and the gravity of it? Still waiting to find out from the experts here on economies where this money has gone in such a short time 250 billion dollars? This is unparrelled in Argentina history that a goverment has taken on such a debt and they and only them have to pay this back . How can they do this when they have ony 55 billion dollars in reserves in the central bank .

https://www.zerohedge.com/sites/default/files/inline-images/fx denom debt edwaerds.jpg?itok=jweYINub

 

[wrangler]

The debt that we have now is not financial sector or personal debt which is the main case of all the other cases in the list attached. Do you understand the importance of this statistic and the gravity of it? Still waiting to find out from the experts here on economies where this money has gone in such a short time 250 billion dollars? This is unparrelled in Argentina history that a goverment has taken on such a debt and they and only them have to pay this back . How can they do this when they have ony 55 billion dollars in reserves in the central bank .

https://www.zerohedge.com/sites/default/files/inline-images/fx denom debt edwaerds.jpg?itok=jweYINub

Hi Perry,

You are going to be waiting a long time to receive answers to your question, and in fact, any question that you may have about the 'cambiemos' government, as no one, including those who support this government seem to know what is going. The only two answers that I have heard, are we just have to wait and see, and this government is better than the other guys.

As I stated in the past, this government speaks in generalities, gives no specifics, and has missed the mark on ALL of their own economic projections since in power. That is a first for me. I have never seen any such things, and I have been raising the alarm bells for two years now.

 

[perry]

Hi Perry,

You are going to be waiting a long time to receive answers to your question, and in fact, any question that you may have about the 'cambiemos' government, as no one, including those who support this government seem to know what is going. The only two answers that I have heard, are we just have to wait and see, and this government is better than the other guys.

As I stated in the past, this government speaks in generalities, gives no specifics, and has missed the mark on ALL of their own economic projections since in power. That is a first for me. I have never seen any such things, and I have been raising the alarm bells for two years now.

I have no doubt that Cristina and her gang were corrupt but has it stopped now? Argentina is in its worse situation in decades and the foreign debt taken on by the government of Macri is not accounted for in the slightest. Some people on this forum are not addressing the current situation and are in a mindset that is not logical or realistic. The debt was taken on by the Macri Goverment creating pure speculation and a gambling mentality that has only benefited the very rich. The country is on its knees and within a year many economists believe it will default

 

[HenryNisental]

To be honest about trade wars, the first one was created by Mr Herbert Hoover, and aggravated by Mr Roosvelt.
After the crash of 1929, the USA entered an imporant recession, or correction of the markets.
Its origin was that banks used the money on deposits to gamble on the stock markets.
The first thing Mr Hoover did was to increase the duty taxes on european imports substancially. Then France and other countries
retaliated increasing tax duties on American grains, drinks, steel, machinery, cars, etc; and on an on, creating the first world slump.
It looks that Mr Trump is unaware of this fact, despite his good intentions.

 

[HenryNisental]

The depression of 1929 ended only when the USA entered WWII, placing the 6 millions of unemployed men on uniform.
With the war won, the USA was the only power with its economy intact (almost all Europe was in ruins in 1945), etc.