Down, down, down (a peso devaluation thread)

[steveinbsas]

I wonder what your US bound friends then do with there life

Perhaps they're spending their lives chasing the (once) almighty dollar there.

 

[noarmadillos]

I wonder what your US bound friends then do with there life

What do my US friends do with their* lives**? Most of them have moved back home and work retail to pay off their student loans. I took a leap and haven't regretted it yet, even if I don't have a dollar based income or a trust fund to rely on.

Oh, and I don't appreciate your implication - that the only way I could possibly be having a better time is if my friends are a bunch of miserable loafers.

I'm tired of the assumption that the only way you can enjoy Buenos Aires is with a fat wallet and an overpriced apartment. Even if the peso does decline to a 5:1 ratio, I know plenty of folks who will make ends meet and enjoy being young (and yes, poor) in such a vibrant, exciting city.

 

[sundae]

The current administration has no interest in a strong peso. They will continue to devalue it as they have been for the last number of years. First time I came here the peso was 3 to 1 and prices were significantly lower. I still don't understand how the average person can afford imported goods. I feel like I'm being robbed every time I buy something.

Lots of natives convert to dollars and keep them under the mattress - they don't trust the banks or the peso's worth.

 

[Barney]

What do my US friends do with their* lives**? Most of them have moved back home and work retail to pay off their student loans. I took a leap and haven't regretted it yet, even if I don't have a dollar based income or a trust fund to rely on.

Oh, and I don't appreciate your implication - that the only way I could possibly be having a better time is if my friends are a bunch of miserable loafers.

I'm tired of the assumption that the only way you can enjoy Buenos Aires is with a fat wallet and an overpriced apartment. Even if the peso does decline to a 5:1 ratio, I know plenty of folks who will make ends meet and enjoy being young (and yes, poor) in such a vibrant, exciting city.

So you are saying that most of your college grad friends are working in retail?

 

[Barney]

What do my US friends do with their* lives**? Most of them have moved back home and work retail to pay off their student loans. I took a leap and haven't regretted it yet, even if I don't have a dollar based income or a trust fund to rely on.

Oh, and I don't appreciate your implication - that the only way I could possibly be having a better time is if my friends are a bunch of miserable loafers.

I'm tired of the assumption that the only way you can enjoy Buenos Aires is with a fat wallet and an overpriced apartment. Even if the peso does decline to a 5:1 ratio, I know plenty of folks who will make ends meet and enjoy being young (and yes, poor) in such a vibrant, exciting city.

So you are trying to pay off your student loan with your peso income?

 

[noarmadillos]

@Barney

Why are you worried about my student loans (made quite manageable by the two jobs I've found in the two months I've been here - I was just hired for a gig that pays in USD since my last post)? The second job - for an arts and culture magazine here - pretty much makes my nightlife free, and pays me in pesos. I've living in Palermo Soho and working a job I love at 22 years old. I couldn't possibly be living a similar life in the states right now.

And you must not understand the current state of the US economy if you're mocking recent college grads who haven't been able to find employment in their chosen field. Yes, my friends are working retail (or similarly mind-numbing forms of income) as they constantly interview in pursuit of something relevant. Right now it can take 1-2 years of searching to find something decent.

Not that there's a point to arguing with you about anything...these friends of mine are highly motivated, brilliant people...top of their class, honors program, etc. at a highly regarded state school. I don't look down on them for patiently waiting it out back in the states whatsoever, and that you would do so just exposes your ignorance.

 

[nikad]

In the light of the recent US debt downgrade, I see a weaker dollar worldwide, with everything that comes with. The current dollar/peso exchange rate in Argentina is basically a consequence of the coming National elections and a culture of saving in dollars, although I am not sure this would be the first choice of any informed small investor nowadays...

 

[Barney]

@Barney

Why are you worried about my student loans (made quite manageable by the two jobs I've found in the two months I've been here - I was just hired for a gig that pays in USD since my last post)? The second job - for an arts and culture magazine here - pretty much makes my nightlife free, and pays me in pesos. I've living in Palermo Soho and working a job I love at 22 years old. I couldn't possibly be living a similar life in the states right now.

And you must not understand the current state of the US economy if you're mocking recent college grads who haven't been able to find employment in their chosen field. Yes, my friends are working retail (or similarly mind-numbing forms of income) as they constantly interview in pursuit of something relevant. Right now it can take 1-2 years of searching to find something decent.

Not that there's a point to arguing with you about anything...these friends of mine are highly motivated, brilliant people...top of their class, honors program, etc. at a highly regarded state school. I don't look down on them for patiently waiting it out back in the states whatsoever, and that you would do so just exposes your ignorance.

I never mocked college grads, must be your twisted mind who thinks that I did

 

[deeve007]

The whole "employment in... chosen field" can have very little to do with the economy anyway. I recall a report/article once where they calculated that around 50% of graduates never work in their chosen field, but find another career path. I certainly know that my goals changed during my degree.

 

[noarmadillos]

ah yes, my twisted mind. I always forget to keep that in check.

Yeah, I suppose you're right deeve...I should have said "anything desirable." I know that I'm not exactly working in the think tank forming the policy recommendations that my field would require...but I am doing something I enjoy. And hoorah for that.

Anyway, I apologize for taking this thread off track with my responses to ol' Barney there. My bad.