Unaffected Middle Class

[garygrunson]

I live in what I consider a very middle class to upper middle class neighborhood in Barrio Norte. My block is full of one and two bedroom apartments. Nothing fancy.

With today's prices, most people remain unchanged. They all have maids, children in private schools, they travel abroad, wear the latest fashions from here and abroad, and have new cars. They really seem unaffected by the economy.

Maybe I am blind and all these people are rich.

My neighbor, who lives in a two bedroom apartment with three children, asked me whether or not to rent a car while he is visiting Disney world. It just struck me as weird. He seems to be struggling, yet he can afford to take the whole family to Disney World? The visas alone must be almost 1000 dollars...

What am I missing here.

 

[Bajo_cero2]

full employment perhaps?

 

[garygrunson]

full employment perhaps?

Maybe that is it. I just have no clue what people make. My neighbor is a teacher and his wife stays at home with the children. Does that mean they can afford a vacation to the states and still afford to live in Barrio Norte? I make dollars from the states and I see the difference. So teachers are rich? Maybe the family gives them money.

 

[expatinowncountry]

My neighbor, who lives in a two bedroom apartment with three children, asked me whether or not to rent a car while he is visiting Disney world. It just struck me as weird. He seems to be struggling, yet he can afford to take the whole family to Disney World? The visas alone must be almost 1000 dollars...

What am I missing here.

Buenos Aires is so expensive that he actually saves money going on vacations to Orlando

Now, on a serious note, one of my colleagues went on a one month vacation to Europe with his girlfriend. I could not believe my eyes so I asked him how he was able to afford it. He told me he got TWO bank loans to pay for the vacations. I personally would never do something like that

 

[Crema Americana]

From what I've seen, Argentines live on credit just as much or more than Americans (with exception of housing.) They don't save much at all, either.

I would be tempted to say they are irresponsible with money, but given the financial and economic history of this country I can somewhat understand the draw of spending now and worry about the bills later.

 

[Bajo_cero2]

when there is inflacion you save money if you spend sometimes.

Regarding the joke, it is true, it is cheaper to go abroad and better.
That s why she made the restriction on spending money with credit card abroad. Have you heard about the "deme dos" (give me two). Every ten years the peso is overvalluated and for us is cheaper to go abroad for vacation and shopping.

It was like that when i finished highschool and i went to the us for a coule of month with my savings and i was 17.

Regarding public employeds, they have a low basic salary but is increased by antique. So, is he is 40 ans he started working at 23, then he might be doing 10:000 pesos.
I have a divorce case where he is a teacher and he makes 15.000!!!!!
(we are claiming 30 % of alimony for the son in common)

regards

 

[surfing]

Lots of people who earn in pesos have seen their salaries rise right along with inflation; Many of us who earn in other currencies have not.

 

[garygrunson]

Regarding the joke, it is true, it is cheaper to go abroad and better.
That s why she made the restriction on spending money with credit card abroad.

As far as I know, there are no restrictions with credit cards abroad, just debit cards and dollars.

BTW, a bank here, gave me a Visa, Amex and huge line of credit and I don't have a job either. The never really checked if I had any money. So credit is really easy to get now in BA.

Using 12 interest free payments, with the inflation rate....maybe these trips will become cheaper as you make your payments.

 

[GS_Dirtboy]

Lots of people who earn in pesos have seen their salaries rise right along with inflation; Many of us who earn in other currencies have not.

Us and our Argentine friends haven't been that fortunate. My wife's salary has remained the same even though she is effectively earning 30% less than she did this time last year.

From your perspective is it common practice to raise salary's?

 

[expatinowncountry]

Us and our Argentine friends haven't been that fortunate. My wife's salary has remained the same even though she is effectively earning 30% less than she did this time last year.

From your perspective is it common practice to raise salary's?

Sindicatos negotiate salaries in April/May every year and the number they get (around 20-25%) works as a reference in the economy. Of course, the employer is not legally obliged to follow this if their employees are not part of an union. Therefore, in the last few years (I think) public sector salaries have increased more than the private one. Of course, if you are in negro... your situation is even worst.