"It Might Be Time To Get Out Of Argentina"

[Rich One]

I don't know how many expats who live here today experienced first hand the economic debacle that engulfed ARG.

The Argentine Crisis 2001-2002
https://economics.rabobank.com/publications/2013/august/the-argentine-crisis-20012002-/

I was living here that summer arriving on Dec 9, 2001. The monthly expensas on our apt (located on Av. 9 de Julio and Paraguay) amounted to the equivalent of US$10.00 and the cost of the utilities was less than US$5.00. Thanks to our AmExpress card, my ex and I ate every meal at high end restaurants for nickels to the dollar. They were the only places in town that accepted any credit cards. While hungry people ransacked their garbage cans every night after closing hours. None displayed acts of violence but the look of desperation in their eyes was heart-breaking.

I could go on but I'm sure you get the picture. I certainly do not want to a repeat performance no matter how it benefits my pocketbook.

I concur it was heartbreaking, at closing time around midnight outside Mcdonald's (Sta.Fe and Callao) huge garbage bags with the leftovers were disposed of, families with children would fight and tear apart the plastic bags, the sidewalk was covered with bread buns, pieces of burger patties, a battle ensued to grab the most leftovers... These families came from the Greater BA!

 

[chris]

I was here then and I remember it well but I was paid in pesos (and sometimes patacones) so I didn't have many benefits. I remember going into Munich (now defunct restaurant next to La Biela) around 9 PM on a Friday. It was normally packed with people at that time. There were two people dining. The crisis was beyond description. It really was like the Great Depression.

 

[ben]

The giant cheeto is nothing but a US version of the typical Latin American president. You are figuratively jumping off the pan and into the fire.

And to think that I was almost lynched here when a couple years ago I warned that Macri was just more of the same.

I resisted the impulse to weigh in in the Macri Debate thread, but was going to say that you have turned out, lamentably, to be absolutely right.

It is true that to hear people pointing out the current problems and suggesting a return of K-ism (or CFK outright), is astounding. But it is undeniably true that things have merely gone from incomprehensibly shitty to just plain shitty.

 

[rickulivi]

Argentina is a mess, no doubt about it. Huge federal government deficits, huge debt, and a negative trade balance. All very bad things. Curiously, who else shares these problems? The good old USA. Washington is about to run a one trillion dollar deficit (can anyone guess how much money that is?), the federal debt is at an all time record; it's exploded in the last 15 years, and we run an incredible high trade deficit, thanks to China. One of these days the problems Argentina is experiencing as a result of fiscal mismanagement, will hit us too. Oouch. What a mess that will be!

 

[garryl]

Argentina is a mess, no doubt about it. Huge federal government deficits, huge debt, and a negative trade balance. All very bad things. Curiously, who else shares these problems? The good old USA. Washington is about to run a one trillion dollar deficit (can anyone guess how much money that is?), the federal debt is at an all time record; it's exploded in the last 15 years, and we run an incredible high trade deficit, thanks to China. One of these days the problems Argentina is experiencing as a result of fiscal mismanagement, will hit us too. Oouch. What a mess that will be!

Obama caused the debt record high, he over injected too much credit into banking systems. Middle class Americans got robbed by US government.

 

[camberiu]

I resisted the impulse to weigh in in the Macri Debate thread, but was going to say that you have turned out, lamentably, to be absolutely right.

And I take absolutely no pleasure on that. How I wish that I was completely an irrevocably wrong about him. But I have lived in the region for too long and therefore able to recognize the typical Latin American political scam artists form a mile away, unfortunately.

 

[camberiu]

Obama caused the debt record high, he over injected too much credit into banking systems. Middle class Americans got robbed by US government.

Obama and pretty much everyone before him in living memory, from both parties. And his successor is no better. They are all criminal, wearing different packaging.

“All governments suffer a recurring problem: Power attracts pathological personalities. It is not that power corrupts but that it is magnetic to the corruptible.”

― Frank Herbert

 

[TomAtAlki]

Obama caused the debt record high, he over injected too much credit into banking systems. Middle class Americans got robbed by US government.

Unbelievable

 

[ben]

“All governments suffer a recurring problem: Power attracts pathological personalities. It is not that power corrupts but that it is magnetic to the corruptible.”
― Frank Herbert

I did not know this quote. Thank you.

 

[perry]

I concur it was heartbreaking, at closing time around midnight outside Mcdonald's (Sta.Fe and Callao) huge garbage bags with the leftovers were disposed of, families with children would fight and tear apart the plastic bags, the sidewalk was covered with bread buns, pieces of burger patties, a battle ensued to grab the most leftovers... These families came from the Greater BA!

Hi Rich are you sure that Mcdonalds was on Santa Fe and Callao in 2001? I remember that there was a well known cafe at that time and Mcdonalds came in 2009 .