How many of us are still here?

[Che1990]

I take my comment back about rents and living costs :/

Yesterday, my landlady sort of back tracked.

She agreed to renew from July 1st at $600 USD, but said yesterday she wanted to charge in pesos taking a reference rate of the peso at approx 1300 on July 1st, so 800,000 with 3 monthly increases as per IPC.

This part I will try to negotiate.

Anyway, as I’m one of those unlucky people who earns in dollars (), I went to look for rents in USD and wow.

They have gone up a lot, especially with the massive increase in the expenses and bills. And mostly all in pesos now with increases.

Worrying, especially with talk of the peso going to 1000.

 

[Redpossum]

And the Blue has reached parity with the Dólar Oficial today …..

Yeah, I saw that. The BNA dollar is at 1190 and the Blue closed the day at 1185, much to my sorrow and disappointment, after rallying so encouragingly last week.

 

[FrankPintor]

Yeah, I saw that. The BNA dollar is at 1190 and the Blue closed the day at 1185, much to my sorrow and disappointment, after rallying so encouragingly last week.

I would say, be patient. At some point the 1400 Peso per Dollar limit is going to be tested, by the likes of George Soros.

I would expect speculators to wait for Milei to fritter away his war chest before acting. The IMF gave him so much money up front so he can react with shock and awe to any attack on the currency. But that money won’t last forever, especially if Milei wants to prop up the Peso in defiance of any economic logic.

I expect a bumpy ride over the next year.

 

[carride]

Banks giving 35% annual interest on savings implies $1100 will become almost $1500 for you 12 months from now. More with compound interest. They must be forecasting an even higher amount to be able to take some profit for themselves

 

[Ronnie Hotdogs]

What happens in 3 months time when everyone wants their money back in hard currency from their carry trades?

Also how can a plazo fijo be paying 30% a month interest in pesos? Where is this money coming from?

 

[carride]

What happens in 3 months time when everyone wants their money back in hard currency from their carry trades?

There will still be people who want pesos in August. Two months later with the uncertainty of elections, they will still be there though will pay less dollars for pesos. That is how the news has been written.

Also how can a plazo fijo be paying 30% a month interest in pesos? Where is this money coming from?

30-40% TNA. Annual, not monthly. Where did you read monthly?

 

[Redpossum]

I would say, be patient. At some point the 1400 Peso per Dollar limit is going to be tested, by the likes of George Soros.

I would expect speculators to wait for Milei to fritter away his war chest before acting. The IMF gave him so much money up front so he can react with shock and awe to any attack on the currency. But that money won’t last forever, especially if Milei wants to prop up the Peso in defiance of any economic logic.

I expect a bumpy ride over the next year.

Well, Frank, I do thank you for those words of encouragement, but the challenge for me personally will be surviving the next year. Hopefully we will get a better COLA next January than the 2.5% pittance we got this year. By all I have read and seen, inflation in the USA was far more than that, but governments everywhere conspire and connive to hide the true extent of inflation.

With any luck, the Peronists will do better in the midterms at the end of this year, and the whole Libragate thing will blow up in Milei's face, revealing the true extent of corruption in his government.

 

[steveinbsas]

Here's another thread from 2012 which asks a relevant question:


Thread 'Expats not happy, why stay?' https://baexpats.org/threads/expats-not-happy-why-stay.2780/

 

[devilclam]

Here's another thread (from 2012) which asks a relevant question:


Thread 'Expats not happy, why stay?' https://baexpats.org/threads/expats-not-happy-why-stay.2780/

After reading everything here it makes me think pheraps we've become argentinizados afterall.

Because collectively we sure have picked up the passion for complaining about everything

 

[nikad]

With any luck, the Peronists will do better in the midterms at the end of this year, and the whole Libragate thing will blow up in Milei's face, revealing the true extent of corruption in his government.

Honestly it really does not look like they will make a comeback anytime soon. Just this week Milei said the " the days of Argentina cheap in dollars are over ". I don't know how sustainable all of this is. In my household we feel poorer everyday, just affording the basics. Thankfully we do not pay rent.