Argentines jockey to cope with economic turmoil

Fox News ^ | 1/30/14 | ALMUDENA CALATRAVA and DEBORA REY

[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.

[tbw2]

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.

[Diana in Wisconsin]

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

Wait a minute. That sounds vaguely familiar...

[2001convSVT]

I second you, Silver, in one ounce increments.

[Red in Blue PA]

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.

[Eagles6]

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