New official exchange rate: 800 pesos per dollar

[sergio]

instead of wasting your time trolling, you should probably be out on the campaign trail for Cristina to come back and "save" your country, no?

Argentine laws are written, and economic history as well, so that its virtually impossible to lose real estate. You cannot have a bank repossess because there are no loans. You cannot evict tenants in practicality, even if there some legal years long routes that kind of sort of say you could.
Argentina in general has a much larger percentage of small family owned businesses than most western countries.
Rite Aid Drugs, or Sears, can go bankrupt in a month- but there are several storefronts I know of, including one in a very high rent stretch of Santa Fe, that have been vacant for years and years, because the owners have closed the family store, but have no interest in renting or selling.
Make me.
Argentine business people think very differently than other nationalities.
If you own the stock and the store outright, and nobody is buying, you wait. Sometimes years. Its why you can find stores here with stock decades old.
I was in a store in Once a couple of years ago with mens woolen suiting fabrics, from Germany and Japan and Italy, that was ten to 30 years old, and was basically unavailable anywhere else on earth. But here, there is confidence that, no matter how bad things get, it will still be saleable at some time in the future, so you sit, sip your mate, and wait.
Thats the way its been since 1929, and nobody expects that to change.
Walmart and Carrefour may close and pack up and leave, if their beancounters and shareholders demand it.
Local stores will still be here.

Of course without loans business is limited to a small group of people who already have money. Few opportunities for those who want to progress. This is hardly an efficient or equitable way to run an economy.

 

[Rich One]

I'm not an authority on empanadas but believe today you can get one for 500 pesos. 50 cents. As I've posted before, my NAMPE wine inflation level still has it priced at about a $1.30 figure, US.

Nampe $1460 at Carrefour...! 10 % Senior discounts apply above mentioned....!

 

[Ries]

Of course without loans business is limited to a small group of people who already have money. Few opportunities for those who want to progress. This is hardly an efficient or equitable way to run an economy.

I have had a business in the USA since 1978. Business loans there are also limited, usually to businesses that already have the money, to guarantee the loan.
the loans I was referring to were residential mortgages.
In the USA, business loans are generally quite high interest rates, and to buy a building, usually 5 years or less. Most businesses there are no more likely to get loans than here, until they are already grossing millions a year.
efficient and equitable are mutually exclusive in virtually every economy on earth.

 

[AdrianB]

Nampe $1460 at Carrefour...! 10 % Senior discounts apply above mentioned....!

On carrefour website it is 1775. I think they have the same prices in store and online always so probably will update soon in the store?

 

[Rich One]

I have had a business in the USA since 1978. Business loans there are also limited, usually to businesses that already have the money, to guarantee the loan.
the loans I was referring to were residential mortgages.
In the USA, business loans are generally quite high interest rates, and to buy a building, usually 5 years or less. Most businesses there are no more likely to get loans than here, until they are already grossing millions a year.
efficient and equitable are mutually exclusive in virtually every economy on earth.

Residential mortgages in Argentina will not be available in my lifetime IMHO. UVA associated mortgages turned to be a disaster with the current and future out of control inflation.

 

[Reply Guy]

Most businesses there are no more likely to get loans than here

Business loans are way easier to get in the US than Argentina, not even close. There are also many more alternative financing options in the US as well.

During the Macri years, I worked for a company here in BA that provided alternative financing to companies. There were many companies that came to us that had substantial revenue that couldn't get financing. I remember one that was a shipbuilder that had an order for 10 ships to be built, but they needed financing to build them, they still couldn't get a loan, not at any interest rate.

Access to credit is one of the major issues that Argentina has had for a while that has hampered potential growth.

 

[Jimbob]

Dollarization isn't happening. Milei is going to destroy the economy. ¡¡¡CÁRCEL!!!

Economy is already destroyed if you hadn't noticed.

I'll wait and see what happens instead of just shouting and making a scene because I don't agree with who Argentines have democratically voted for.

 

[retiredbanker]

Nampe $1460 at Carrefour...! 10 % Senior discounts apply above mentioned....!

I haven't found Nampe in the Carrefour I go to frequently in San Martin. I'm headed there tomorrow and will look again. Thanks for the heads up!

 

[Lanick]

In Argentina things are very different. Used to be a wealthy nation and still there are many wealthy people and they don’t rely on the income from from their businesses. They don’t care if you don’t buy. They don’t care losing your business. They put it in the warehouse and wait. Different mindset. I was trying to import things to Europe and they were like; wholesale price is the same as the retail. 1 or 1000 doesn’t make any difference. They’re not bothered. And the small guys who are bothered, don’t have access to any sort of start up loans. Argentina should immediately start exporting. Attend trade fairs, chase potential new customers and markets but the people who are supposed to do that are not bothered. They got subsidised energy, $5 for a round of golf, great meat, good life and the amazing resources of a great nation is getting wasted!! I hope the lifting of import restrictions will bring in some serious competition and this will light the fire under their butts. No export means no money. I hope there will be some serious FDI into Argentina. Vamos a ver.

 

[Rich One]

I haven't found Nampe in the Carrefour I go to frequently in San Martin. I'm headed there tomorrow and will look again. Thanks for the heads up!

Nampe Available at Carrefour Express located on Av. Santa Fe between Larrea and Pueyrredon.. Seen this morning.