Effects Of A Default On Expats

[Matiasba]

http://www.igdigital...en-el-exterior/

164 billion usd acording to Indec are saved in usd.

Houses are bought and sold in usd. Hellooooooooooooooooooooooooooo.
How many Houses are in this country?

Your simplifications are annoying, please do not enlight us anymore.

which country do you live in?? So in 2002 we had 53% under the poverty line and today we have a majority that save in dollars? the Ks are not that good. The people that save in dollars in this country are a portion of the upper middle class and upper classes. The rest, more than 70% of the country, fights to reach the end of the month and inflation eats their posibilities of saving.

 

[ajoknoblauch]

The rest, more than 70% of the country, fights to reach the end of the month and inflation eats their posibilities of saving.

Perhaps, then, it would be more accurate to refer to the década engañada.

 

[Matiasba]

Perhaps, then, it would be more accurate to refer to the década engañada.

Its argentinas reality since the last 40 years, and believe me, it was waaaay worst, like in the 90s with 25% unemployment or in the 80s with hyperinflation, or in the 70s with the dictatorship.

 

[GS_Dirtboy]

which country do you live in?? So in 2002 we had 53% under the poverty line and today we have a majority that save in dollars? the Ks are not that good. The people that save in dollars in this country are a portion of the upper middle class and upper classes. The rest, more than 70% of the country, fights to reach the end of the month and inflation eats their posibilities of saving.

Dude. Yes, there are a lot of people who barely make it to the end of the month. They are saving anything. Bajo_cero2 was talking about the people who can save. Those people are saving in Dollars. Why? Because the Peso will be worth 30% less over the next year. Further, it will be worth much less to try to trade for Dollars in the future.

 

[ajoknoblauch]

Its argentinas reality since the last 40 years, and believe me, it was waaaay worst, like in the 90s with 25% unemployment or in the 80s with hyperinflation, or in the 70s with the dictatorship.

Again, that's setting the bar pretty low. Nobody would ever suggest those were the best of times (with apologies to Dickens).

 

[Matiasba]

Dude. Yes, there are a lot of people who barely make it to the end of the month. They are saving anything. Bajo_cero2 was talking about the people who can save. Those people are saving in Dollars. Why? Because the Peso will be worth 30% less over the next year. Further, it will be worth much less to try to trade for Dollars in the future.

GS, my friend, theres a confussion I already mentioned.

I was always talking when I referred to "a minority who does that" of a total of the society, NOT THE SAVERS. When I said minority I was talking of Argentine society. Of course I know that people can not save in pesos, I suggest you read my second post on this thread in Page 1 talking of a history of argentine migrating to dollar due historical problems with inflation. IS THE ONLY WAY TO SAVE HERE. No discussion about that.

Of course the only people that can save here do it in dollars, but that is a minority of argentine population. I clarified that in the last page but Bajo cero still says that there are lots of argentines saving in dollars. Then I responded that in this country the people that save are a minority, less than 30%.

 

[Matiasba]

Again, that's setting the bar pretty low. Nobody would ever suggest those were the best of times (with apologies to Dickens).

of course it is low comparing it with the US, or Europe, or Australia. Or even with 1960 Argentina. But with these things you cant expect drastical changes, no society in history changed a very crude reality of its citizens in short periods. This only can be changed in the long run. And Im telling you, this inflation we have today, is nothing compared to the inflation in the 80s (which ended with hyperinflation 1989-1992). Its even better than the inflation we had in the 60s! This situation we have in the job market, with 6% unemployment is waaay better than 25% unemployment of the 90s (those numbers for like 8 years, with privatizations and such). And of course, this government while authoritarian cant be compared with dictatorship.
So when I say lots of times here in this forum that this is the best government in decades, that for the first time since dictatorship we re taking people out of poverty instead of increasing it, believe me. Its not like this is a good government. Its the lesser evil government we can have, which is pretty low.

We are far, in social indicators, very far, from the 1960s society, with the country before the dictatorship (that changed everything). Of course we are far from the 1900s, but those were different worlds, with different interests, with different roles, with different allies...

 

[GS_Dirtboy]

GS, my friend, theres a confussion I already mentioned.

Bajo_cero2 is "liking" my posts and Matias and I are now friends. I think I need to sit down ... I'm feeling dizzy.

I wish I had been able to discover Argentina in, say, 1910. From what I read it was an incredible place.

 

[Bajo_cero2]

http://www.lanacion.com.ar/m1/1685597-pobreza-segun-la-uca-padecen-hambre-22-millones-de-chicos

Acording to UCA the poverty is 35%.

It means that 25.000.000 people can save some money and they do it in usd. Some of them sabe 100 usd a month, some others 100.000.

Tiny, indeed.

However, this is off topic.

 

[Matiasba]

You dont have any idea.

Poverty is around 30%, but the rest (70%) is not all upper middle class, the rest is lower middle class, the bigger strata in this country is lower middle class, inmense, and the second more important is the lower class. Those together are more than 50% of the society, those are the most vulnerable and the ones that "se fueron a la lona" in the 90s. The ones that can save, not working class, not lower middle class, are some middle middle class (like public teachers or porteros de edificio, so figure out how much they can save, 500 pesos/month? 50 dollars?) some upper middle class, and of course the upper classes; they are less than the 30% of the society.
Upper midddle class + upper classes are less than 20% of the society (17% + 3% according to a paper from 2012 I read and I cant find)