Inflation expected to top 30% this year

[citygirl]

At the risk of sounding overwhelmingly negative - I will say the research we see from the major banks paints a very bleak picture for Argentina in 2011 and beyond for exactly the reasons discussed.

Companies are not giving 30% raises here and very few if any people are getting paid in dollars. And prices are growing at an astronomical rate.

I went to brunch the other day at a nice although not top restaurant. I had a glass of wine, eggs florentine and a cup of coffee. My bill was 70 pesos. That's more than I would pay in NY (in actual dollar costs).

 

[nikad]

I meant locals earning in pesos and expats earning either pesos or dollars

How many locals earn dollars? And, regardless of whether they are getting paid in a foreign currency or not, how many locals have wages that are keeping up with this ridiculous inflation? Are many Argentines getting 30% raises every year?

Seems like there may be a serious crisis looming...

 

[syngirl]

At the risk of sounding overwhelmingly negative - I will say the research we see from the major banks paints a very bleak picture for Argentina in 2011 and beyond for exactly the reasons discussed.

Companies are not giving 30% raises here and very few if any people are getting paid in dollars. And prices are growing at an astronomical rate.

I went to brunch the other day at a nice although not top restaurant. I had a glass of wine, eggs florentine and a cup of coffee. My bill was 70 pesos. That's more than I would pay in NY (in actual dollar costs).

Most companies are actually only giving the minimum increase that they can get away with -- which I believe is based on that oh so trustworthy source, the INDEC. So people are actually going to be paid less this year than last.

And yes the prices are crazy. My mum and her friend arrived the other day -- went for coffee at Bar 6 -- I hadn't been in a long long time. Each cafe con leche -- 21 pesos!!! and 8 pesos for servicio de mesa. 21 pesos for a substandard coffee. That's ridiculous.

 

[sesamosinsal]

I always judge things in terms of soda prices. I consume more Diet Coke than anyone I know. (yeah, yeah, I know I'm going to get brain cancer and die a wretched death.)

Here in Missouri, a 2- liter is .69 USD... and there, they're like $1.50-$1.80 USD?

I also love fountain sodas. At McDonald's in Bsas, I think they were like 7-8.00 ARG. Here at the gas station, a 44 oz. is .82 USD.

But the studio I have reserved for May is only $500 USD, everything included. So, I guess it balances out.

 

[sergio]

Sergio, what difference does it make if the anti teaching is against the US, Jewish, or anything else? I send my son to school just so he can learn the facts of history, sciences, etc, not to be brainwashed. I bet some elite schools have an " agenda " too

The writer was talking about anti-Americanism. Anti-semitism would also have been offensive but that was not the topic. I just made a comment based on what I have observed. The top schools are often former British schools. They have students from wealthy families who travel a lot and are generally conservative. You might find anti-Americanism but it tends to be more social snobbery rather than ideology. I knew a teacher who was a student radical in the 70´s and later took a job at an elite bilingual school. She had to keep her left leaning views to herself because she knew that expressing her true feelings would get her in trouble. She felt that she was betraying her values to some extent but needed the job.

 

[tez]

So I am assuming no one is recommending property investments?

 

[sergio]

I think property investment depends on your personal situation. Anything can happen in Argentina, so don´t put all your eggs in the Argentine basket. Diversify to be safe.

 

[SaraSara]

Personally, I would not buy right now. Argentines are worried sick about inflation - those who can't get their money out of the country are buying real estate, and driving prices up.

 

[nikad]

So I am assuming no one is recommending property investments?

In general you do not buy at peak high prices right?

 

[nikad]

The writer was talking about anti-Americanism. Anti-semitism would also have been offensive but that was not the topic. I just made a comment based on what I have observed. The top schools are often former British schools. They have students from wealthy families who travel a lot and are generally conservative. You might find anti-Americanism but it tends to be more social snobbery rather than ideology. I knew a teacher who was a student radical in the 70´s and later took a job at an elite bilingual school. She had to keep her left leaning views to herself because she knew that expressing her true feelings would get her in trouble. She felt that she was betraying her values to some extent but needed the job.

Then she was betraying her values right? money , money , money makes the world go round! Look at the Ks and their fortunes, so much for redistributing