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Argentines jockey to cope with economic turmoil
Fox News ^ | 1/30/14 | ALMUDENA CALATRAVA and DEBORA REY

Posted on 01/30/2014 9:34:40 PM PST by Kartographer

Consumer prices are soaring, the treasury is running low on foreign currency and the peso has had its sharpest slide in 12 years. Instead of rioting, though, Argentines are falling back on tried and true survival skills to cope with the turmoil.

Inflation is at about 30 percent and there's been a 15 percent drop in the peso's value against the U.S. dollar over a few days. But Argentina has gone through five much more dire economic times since the 1930s.

So some Argentines are hoarding dollars, while others stockpile goods or plow their savings into real estate.

More people ride bikes now following recent increases in public transportation fares. They eat less at restaurants and cook at home. They buy cheap, pirated DVD copies of the latest films rather than go to the cinema.

(Excerpt) Read more at myfoxny.com ...


TOPICS: Business/Economy; Crime/Corruption; Culture/Society; Foreign Affairs; Government
KEYWORDS:
So what currancy shall we hoard? Marks? Yuans? How about Charmen?
1 posted on 01/30/2014 9:34:40 PM PST by Kartographer
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To: appalachian_dweller; OldPossum; DuncanWaring; VirginiaMom; CodeToad; goosie; kalee; ...

Preppers’ PING!!


2 posted on 01/30/2014 9:35:16 PM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: Kartographer

Argentina is not exactly an example of doing things. I’m more concerned about the uptick in European banker suicides lately.


3 posted on 01/30/2014 9:41:31 PM PST by DonaldC (A nation cannot stand in the absence of religious principle.)
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To: DonaldC

Indeed. What did those hari-kari bankers know about what’s ahead for all of us?


4 posted on 01/30/2014 9:44:10 PM PST by Tolerance Sucks Rocks (...)
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To: Kartographer

Please don’t squeeze the food money!


5 posted on 01/30/2014 9:44:38 PM PST by Tolerance Sucks Rocks (...)
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To: Kartographer

I heard from an exchange student from there that the commie leader flake has reduced the voting age to 16 or wants to....she said the people who have worked hard all their lives are furious.....


6 posted on 01/30/2014 9:44:39 PM PST by cherry (.in the time of universal deceit, telling the truth is revolutionary.....)
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To: Tolerance Sucks Rocks

can anyone point to a souce of these Europeon suicides?


7 posted on 01/30/2014 9:45:59 PM PST by cherry (.in the time of universal deceit, telling the truth is revolutionary.....)
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To: Kartographer

Of course, switching to a sound-money, low-tax, low-regulation, free-market economy, with the State selling most of it’s assets to private actors or local governments, would be the way to go.

But I won’t be holding my breath waiting for Argentina’s elites to come to that conclusion.


8 posted on 01/30/2014 9:47:13 PM PST by Tolerance Sucks Rocks (...)
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To: Kartographer
So what currancy shall we hoard? Marks? Yuans? How about Charmen?

Bitcoin - obviously

9 posted on 01/30/2014 10:04:13 PM PST by ALPAPilot
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To: Kartographer

Isn’t Paul Krugman their chief economic advisor?


10 posted on 01/30/2014 10:05:35 PM PST by ALPAPilot
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To: Kartographer

Junk silver.


11 posted on 01/30/2014 10:30:17 PM PST by Eagles6 (Valley Forge Redux)
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To: cherry

“can anyone point to a souce of these Europeon suicides?”

http://www.dailymail.co.uk/news/article-2547684/TWO-senior-American-bankers-working-London-commit-suicide-just-two-days-one-jumped-500ft-death-JP-Morgan-skyscraper.html


12 posted on 01/30/2014 10:31:35 PM PST by Marcella ((Prepping can save your life today. I am a Christian, not a Muslim.))
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To: Kartographer

“So what currancy shall we hoard? Marks? Yuans? How about Charmen?”

Currency is Dried beans soup mix, instant rice, cans of meat. I invest every time I go to grocery.


13 posted on 01/30/2014 10:33:39 PM PST by Marcella ((Prepping can save your life today. I am a Christian, not a Muslim.))
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To: DonaldC

One guy already retired. One an investment banker and while they said ‘bankers’ in the article i didn’t see the other was actually an investment banker. The active one committed suicide during ‘bonus week,’
Enough there for the 2 stories to not be related.


14 posted on 01/30/2014 11:55:09 PM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: Kartographer

I hate posting links to Bloomturd but here is an excellent article on Argentina.

Thirteen years after that collapse, President Cristina Fernandez de Kirchner is running out of time to avert another crisis. The policy mix that Fernandez and her late husband and predecessor, Nestor Kirchner, used to usher in 7 percent average annual growth over the past decade — higher government spending financed by printing money — is unraveling.

http://www.bloomberg.com/news/2014-01-23/argentine-default-era-chaos-relived-as-blackouts-follow-looting.html


15 posted on 01/31/2014 2:43:42 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: DonaldC
Argentina is not exactly an example of doing things

The only reason we are not like Argentina is because we print out own money. But that will not last forever. Our day is coming.....make no doubt about that.
16 posted on 01/31/2014 4:05:14 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: Kartographer
Yo, Carlos, that mattress is soon going to be worth nada. Invest in tp and beans.

We've been having to eat down on the pantry and you'd be surprised how fast it goes.

17 posted on 01/31/2014 5:18:54 AM PST by bgill
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To: Red in Blue PA

It is probably worth noting that the shepherd of the flock in Argentina when things fell apart back in 2001-2002 is now the shepherd of a worldwide flock, Pope Francis.


18 posted on 01/31/2014 5:31:59 AM PST by Nextrush (AFFORDABLE CARE ACT=HEALTH CARE INDUSTRY BAILOUT ACT)
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To: Kartographer
What does economic turmoil have to do with Argentine jockeys?


19 posted on 01/31/2014 6:26:10 AM PST by Bloody Sam Roberts ("The further a society drifts from truth the more it will hate those who speak it." - George Orwell)
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To: Mrs. B.S. Roberts

Ping to #17.


20 posted on 01/31/2014 6:28:26 AM PST by Bloody Sam Roberts ("The further a society drifts from truth the more it will hate those who speak it." - George Orwell)
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To: Kartographer

For those near the borders, currency of our neighbors might be an idea.
For those in Texas, there are a number of venues accepting pesos for purchases.


21 posted on 01/31/2014 6:31:55 AM PST by tbw2
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To: Red in Blue PA

“...higher government spending financed by printing money...”

Wait a minute. That sounds vaguely familiar...


22 posted on 01/31/2014 6:46:24 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Eagles6
I second you, Silver, in one ounce increments.
23 posted on 01/31/2014 6:48:04 AM PST by 2001convSVT (Going Galt as fast as I can.)
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To: Diana in Wisconsin
Yes, vaguely.

Also liked this part....it also sounds familiar:

Inflation soared to 28 percent last year, according to opposition lawmaker Patricia Bullrich, who divulges monthly estimates for economists cowed into silence by Fernandez’s crackdown on price reports that clash with official figures. By the government’s count, inflation was less than 11 percent.
24 posted on 01/31/2014 6:58:08 AM PST by Red in Blue PA (When Injustice becomes Law, Resistance Becomes Duty.-Thomas Jefferson)
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To: 2001convSVT

Dimes, quarters, halves, dollars, Silver Eagles should all be good, I think.


25 posted on 01/31/2014 7:08:13 AM PST by Eagles6 (Valley Forge Redux)
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