Dollar Up

[sergio]

When I said I could not empathize with those complaining that it is unfair that Bs As are approaching international norms, I was referring to expats (like myself) who are living on USD or other foreign currency, not to residents (or expats) who earn pesos. Obviously, one can empathize with the indigenous or working expats who earn pesos and for whom rising prices makes life difficult.

Expats on dollars are a handful. Totally irrelevant. "International norms" make no sense if they are not normal to the overwhelming majority.

 

[JoeGillis]

I am not complaining!!!

It has been fun to watch how an inquiry about the dollar exchange rate morphed into how expensive Buenos Aires is morphed into restaurant reviews

I second the recommendation of the Pony Line for a hamburger. Also the smoked trout ceased is killer. It's all expensive but a fun spurge.

If you don't mind cooking it yourself real bacon (called baćon or pancetta) can be found at most good butchers.

T/

Nancy and Tom, since you're from Seattle, have you dined at JUNEBABY in your fair city? Friday's New York Times, online edition, had a rave review for this restaurant, giving it three stars. I was salivating by the end of the article, especially after viewing a photo gallery of some of JUNEBABY's offerings. Just curious....

 

[wineguy999]

...just like you cant get a decent empanada in the USA to save your life...

There, I must disagree with you completely. In Houston, I can get great Argentine empanadas in three different places. I can also get very good Chilean and Mexican style empanadas. I know places to get good Argentine empanadas in Austin, Miami, New York, LA, and San Francisco. Good empanadas aren't rocket science, they just require the proper knowledge and preparation - all the raw ingredients are readily available in the US.

I do agree with you that there are many choices in BA for good food. And like you, Ries, know where to get American style bacon in BA.

 

[Ries]

I've tried a number of the highly-rated burger places in Palermo "Soho" and they're all bad. Shake Shack in USA for example is far superior (and cheaper). McDonald's makes tastier burgers here.

Where can I get the best-quality achuras plate? Fervor had the best one I've tried yet, but curious if there are other good options

If you like McDonalds, then we have no common ground when it comes to burgers.
Taste is subjective.
Yours is as different from mine as it is possible to get.

 

[Ries]

There, I must disagree with you completely. In Houston, I can get great Argentine empanadas in three different places. I can also get very good Chilean and Mexican style empanadas. I know places to get good Argentine empanadas in Austin, Miami, New York, LA, and San Francisco. Good empanadas aren't rocket science, they just require the proper knowledge and preparation - all the raw ingredients are readily available in the US.

I do agree with you that there are many choices in BA for good food. And like you, Ries, know where to get American style bacon in BA.

Houston is a 3 day drive for me. San Francisco, the next closest place you mention, is a day and a half. Each Way, at 70mph.
I find it easier to just go to Buenos Aires, and have them delivered. I am fond of the Picachu's from the place on Puyeredon, the deep fried green onion and cheese from Muchachos de Punto y Banco, and the aforementioned Quinto Criollos. All are much easier to get than flying to Houston.

 

[julian63]

Expats on dollars are a handful. Totally irrelevant. "International norms" make no sense if they are not normal to the overwhelming majority.

Back to the topic of this thread.....
First, I don't comprehend your statement purporting to render "international norms" as nonsensical. International norms refers to the cost of living throughout the world. It is applicable to analyze the relative cost of living for those in and out Bs As whatever they are earning.

Secondly, where do you get your statistics on what % of expats are living on USD vs the % earning peso denominated wages? I don't agree that the % of expats living on USD is "irrelevant." Moreover, even if the % of expats living on USD in Bs As is small, the principle remains the same.
That is to say, Bs As expats living on USD (whether retirees living on savings or workers employed with USD denominated salaries) now finding that Bs As is not the cheapo place in which they opted to retire/reside/work have no justification for claiming that the strengthening of the peso is "unfair." It may be unfortunate from their perspective, but it isn't unfair.

 

[julian63]

Measuring the weakening of the USD in the last couple of years....
Looking at the currency conversion chart - http://www.xe.com/currencycharts/?from=USD&to=ARS&view=5Y - one can see that a USD bought 15.8 pesos at end of 2/2016. Based upon Friday's Ambito rates, I believe I can get 20.6 pesos for a USD. That is an increase of approximately 31% over the 2 year period.
It is notoriously difficult to obtain accurate data about the rate of inflation in Argentina. INDEC figures have not been credible. If one posits a conservative annual inflation rate of 20% in each of the last 2 years, there has been inflation of 44% over the same 2 year period - a weakening of about 13% of the purchasing power of the USD (44-31) and that is a very conservative estimate.
If one posits a more realistic 25% annual rate of inflation the delta increases to a weakening of about 25% over the same 2 year period. If one posits a 30% annual rate of inflation over the past 2 years the delta between the 31% increase in the rate of exchange over that time frame and the loss of purchasing power increases to 39%. (Do the math.)
To me, it feels like like something between the 25% and 39% number. One indicator would be to compare the initial drop of a taxi meter on 2/29 and that of today. anyone have that data? Or some other reliable measure of inflation over the past 2 years?

 

[polostar88]

If you like McDonalds, then we have no common ground when it comes to burgers.
Taste is subjective.
Yours is as different from mine as it is possible to get.

Point is McDonald's burgers are superior to the "gourmet" burgers you find in Buenos Aires.

Julian--I read some of your other posts. The point isn't what the rate was in 1975 when Argentina was in a state of civil war. Prices are now 3-4x what they were in 2010 and even much higher than they were in 2015. The govt. here is doing something here to monkey around with the exchange rate. I paid last night about $17 for a meal that would have cost me $9 in Tokyo and been three times as good.

 

[Ries]

Assuming that its true that there are very few expats who earn in dollars, that doesnt change the fact that virtually all Argentines who have money, conduct significant portions of their lives in dollars.
So the dollar rate is relevant to a lot more than expats alone.
All real estate purchases, of course, are really still in dollars, even if the government keeps trying to change that.
Most Argentines who can afford it have savings in american dollars in cash.
If I want to change dollars to pesos, I know dozens of individual argentines who will gladly do it, because they trust greenbacks. These people all care about the exchange rate.
Many, many argentines take physical dollars with them to Florida and buy hard goods to bring back. They care about the exchange rate.
A lot of upper income argentines own real estate in the US, as well- I know several who bought during the recession, in 2008, or so, apartments in Miami for half of what apartments in BA were selling for. They care about the exchange rate.
Anybody who buys or sells things in Argentina- that is, wholesalers, retailers, and people in building trades- all deal in dollars. The wholesale fabric dealers in Once, the computer repair places in Galeria Jardin, the stores selling Vans shoes and Fender guitars- they all watch the dollar exchange rate.
My friends who are musicians, who make a living and a career touring abroad, watch the exchange rate. You buy plane tickets to Japan or Romania in dollars- and I know people who have done both in the last year.
Many Argentines have US dollar denominated credit cards- I dont know how they do it, but they do. I know people who buy things on Amazon or Ebay with em, and then find friends to bring the purchases down on the airplane when they visit.

Which is to say- unlike many countries, the entire Argentine economy- wine, oil, beef, produce, soy, minerals, and vacation tourism to Antarctica- is very very intertwined with dollars, and the exchange rate matters very much to a wide spectrum of it.
I have visited many countries where a hundred dollar bill is a strange curiousity, and only usable at a money changer- heck, even large parts of Mexico they wont take dollars. But in Argentina, almost anywhere, if you ask, you can pay with a Benjamin.

 

[Ries]

Point is McDonald's burgers are superior to the "gourmet" burgers you find in Buenos Aires..

You are nuts.
McDonalds burgers are inedible trash. The buns are made from Wonder Bread- we used to roll it into balls for throwing at each other in american cafeterias in the 60s in elementary school. The meat is vaguely beef flavored hard dry cardboard. The condiments are all 99% sugar, and none of the "vegetables" have seen a plant, soil, or the sun in months, if ever. The cheese even has sugar in it.

I am not some sort of snooty gourmet.
I will eat the choripan at Lo De Fredy every time I walk by, in San Telmo, and get glared at by the hungover Fredy, and like it.
I will take the 152, and brave the walk thru Puerto Madero, to grab a Bondiola Completo from Mi Sueno, and love it.
I will duck into Kentucky and order a fuga and a faina, and a chop, and be very happy.
I will eat migas all day long- triples with jamon crudo, egg salad on white, tomato and salami on "brown" bread, and be in heaven.
I will grab a shawarma from any of a dozen middle eastern takeout places near Scalabrini, and eat it when I walk down the street.
I will always want to go back to La Esquina, on Minones and Sucre, for one more serving of cheap fast asado, and drink flat coke from a plastic cup.

I like cheap quick street food the world around, from caritos (mmm, chivitos!) I have bought goat satay from a barbecue a guy was carrying on his head in Java, or Fried bananas from a street vendor in Sumatra, zucchini flower quesidillas from a grandmother pushing a stolen shopping cart on the south side of chicago, paletas from a door to door vendor in Compton, Tamales from a plastic bucket in the DF, yakitori on a stick from a window in Tokyo, macaroni pizza out of a stall in Naples. None of which cost more than a couple of bucks, all of which was sold by people who didnt wash their hands or have food handlers permits.
In fact, there aint much I wont eat.
Except McDonalds.
I had kids- I used to have to take them there, and buy the damn stuff for them. Even the smell puts me off.

And you obviously have never eaten at Paris Burger.
https://www.google.com/maps/uv?hl=e...d=0ahUKEwiKrfOixvbZAhWtna0KHVk2DGoQoioIjAEwDg