Expat Life in Argentina during the coming Depression

[sergio]

All the indicators are for a Depression in the US. How will Argentina fare? What will life be like for expats who stay on? Any thoughts?

 

[soulskier]

My prediction is life will be great for those expats living in Argentina and earning dollars, euros and pounds.

 

[sergio]

Yes, but will there be many jobs left in the US and Europe? Surely work will be outsourced to the lowest bidder.

 

[criswkh]

I agree with soulskier, but there is a catch as long as the exchange rate works in the favor of those making dollars, pound, or Euros. Every day more jobs are being lost in the US, I don't know how they will recover all those jobs. I think maybe the US should have three people working the register at McDonalds, rules you can't pump your own gas, toll both operators, etc...

 

[soulskier]

I agree with soulskier, but there is a catch as long as the exchange rate works in the favor of those making dollars, pound, or Euros. Every day more jobs are being lost in the US, I don't know how they will recover all those jobs. I think maybe the US should have three people working the register at McDonalds, rules you can't pump your own gas, toll both operators, etc...

You mean Argentine job creation. Yah, that's a good idea.

 

[Napoleon]

I'd like to see the dollar drop for those of us making pesos, but who have rent set in dollars. But not too far, for those of us teaching English at companies that service the American market. Outsourcing will expand (!!!!) and basically I shouldn't have to worry about anything.

In the famous words of Nigel Tufnel, this song is in D minor (the saddest of all keys) and it is titled:

"Lick My Love Pump"

http://www.youtube.com/watch?v=N5dnVlbKgoM

 

[cinco_perros]

If you are making dollars, pounds or euros you will probably be doing quite well here. Not so much in the USA, looks like a "Wal-Mart Christmas" this year:

http://www.alternet.org/workplace/107659/it_is_going_to_be_a_wal-mart_christmas/

 

[igor]

Here is a killer business idea for all dollar/euro lovers. There are management companies, where you formally are an employee of the company, but actually work elsewhere. Small companies use them to outsource their payroll management. Start such a company in Argentina. Take people's salary in pesos, convert their paycheck to dollars (don't forget to take off your 20% management fee) and give them back the dollars. Everybody will be paid in dollars. Everybody will be happy. Hooray!

On a serious note, with substantial unemployment in the USA I don't expect any jobs to be moved overseas. People in the States will work for less.

 

[sergio]

I doubt that people in the US can work for the kind of money that is paid in India and even Argentina. What's more, the predictions are for an INFLATIONARY depression. I think outsourcing will increase.

 

[syngirl]

I don't know that outsourcing will increase, only because in times like these countries tend to get more protectionist, which unfortunately can mess up the economies even more. But at least for larger companies that are easier to monitor I wouldn't be surprised if the US govt steps in and tries to stop outsourcing of any more customer sevice jobs etc.

However, the Indians are shooting themselves in the foot right now -- in the past few months every time we've sent work to programmers for an estimate, they've come back asking for ridiculous rates -- ie they wanted 1500USD for a 10 hour job. To be honest, I haven't been reading up on what's going on in India, not sure if they are experiencing a tonne of inflation, or if it's just that with the ability to work online everyone is starting to compete for a global rate of pay. However if prices go up like that, they are going to kill their own outsourcing economy.

Speaking of protectionist policies, did you see in the paper yesterday that Italy has voted to close it's borders to all imigration for the next 2 years? They have been fingerprinting and exporting the Romany gypsies -- including any minors they find even if they are unaccompanied. Also if immigrants with legal status lose their jobs they are now only going to be given a limited amount of time to find new work before they are deported -- even if they have all of their papers in check! Meanwhile their birthrate is one of the lowest in Europe, so talk about shooting themselves in the foot -- aging population, shrinking birthrate, blockade on immigration -- if they keep on this path I wonder where Italy will be in 20 years.