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Milei’s fiscal shock has changed Argentina’s destiny
- Thread starter MilHojas
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Nope. The cost of everything has shot up and continuing to go up. My friends here complain about tuition exploding. Condo expenses keep going up. Restaurants are obscene. Ubers are double from what they were. Healthcare costs have gone up.
I can't think of anything that has improved for me.
Uncle Wong
Well-known member
That is a good question and something I asked from friends that live in BA. The only thing they tell me which is nice is that there aren't nearly as many protests and they don't allow protestors to block the roads. Before they were frequent and they even burned tires and blocked the highway to the airport. I missed a flight once. They said that is about it.
Some say inflation came down in some things but went way way up in most other things so it's a moot point. Their salaries aren't keeping up.
Betsy Ross
Well-known member
This is one of the best things is they reigned in protestors blocking the road. They don't tolerate it which is great. They are avoidable if you know when they will be and I just avoided downtown when they had them. But many people had to work downtown and couldn't avoid them before.
More products are here now with Milei and prices are coming down on electronics but I don't buy those things. Anytime I need something I buy it in the USA or @earlyretirement and @Johnny last 2 trips have brought me many items from the USA. I don't buy them here.
People like that the protest situation is better. Things are more stable at the stores with pricing. Sure they may fluctuate a little but before prices at the store were going up daily. Restaurants would have the prices on paper and they were changing them so frequently. Some fast food places didn't have the prices on the board because it kept changing. So that is good. Maybe not for expats that had the dollars to exchange.
All the problems that Argentina had aren't going to be fixed quickly.
All the problems that Argentina had aren't going to be fixed quickly.
VINO
Well-known member
Expats over the past 2 years have felt it the hardest because they were formally in a situation where we had a USD that always went up. We never like when the peso gets stronger as it makes our lives more expensive. People are getting tired but they voted the past mid-term to continue on with this experiment even if it is painful. You have to admire them for that. I am not sure the next one will go so easy.
Many of my friends that were formally supporting him have thrown in the towel after this Israel thing.
Many of my friends that were formally supporting him have thrown in the towel after this Israel thing.
Cheap Bastard
Well-known member
Enough said!
You can't have change when the President and his family are grifting. Look at Libragate. Look at the social scam grift by his sister. They campaigned against the caste and they are the new caste. Staying in 3,500 a night suites. Bringing in needless people to NYC. Once the IMF money and aid from the United States stops (it always does). That $$$ never goes on forever then you will see Milei won't make it.
It's highly likely the Republicans won't be in office next term and that won't be good for Argentina.
It's highly likely the Republicans won't be in office next term and that won't be good for Argentina.
Cheap Bastard
Well-known member
Yes he has changed Argentina's destiny.
All the local companies are going out of business or laying off their staff.
www.infobae.com
All the local companies are going out of business or laying off their staff.
Crisis de los electrodomésticos: una reconocida empresa abrió retiros voluntarios y evalúa cómo seguir operando
La planta rosarina de la multinacional enfrenta un proceso de reducción de personal. El año pasado había suspendido 400 trabajadores. El impacto de las importaciones y la baja del consumo
www.infobae.com
Avocado
Well-known member
Correct. Terrible. Many losing their jobs. Many closings.Yes he has changed Argentina's destiny.
All the local companies are going out of business or laying off their staff.
Crisis de los electrodomésticos: una reconocida empresa abrió retiros voluntarios y evalúa cómo seguir operando
La planta rosarina de la multinacional enfrenta un proceso de reducción de personal. El año pasado había suspendido 400 trabajadores. El impacto de las importaciones y la baja del consumo
Che Vos
Well-known member
What I can't stand is one set of rules for everyone else and another for politicians. They refuse to increase benefits for the elderly or raise salaries much for anyone yet they give themselves a huge salary increase to 11 million pesos. How can people think that is fair?
That is particularly outrageous to me. The Senators and Congress giving themselves juicy fat raises saying they can't live on less. the problem is that Milei is not a Libertarian. He wanted to blow up the Central Bank and now they are just dependent on the IMF and United States. He and his sister scam money any chance they get. The proof is already there.
He is surrounded with yes men that are scared to speak out. So much nepotism with his sister that he doesn't know right from wrong. For christ's sake did you see this week she was speaking (terribly) in Spanish to foreign Investors? How does that make sense??
All they care about is more debt coming in to roll over the old debt and to keep the peso strong. Without more money coming in what is the solution. Nothing has gotten solved at all. Recession and inflation keep going up each month. How will they pay off the debt?
I really don't see the country turning around at all. And with the War it's going to make Argentina exposed. Milei is raving and doing interviews how he is the most Zionist President in the world. Majority of the world is against Israel so I don't know how/why he is doing these interviews.
It seems like many here dislike the new president. He is not all bad. I from China and we have no freedom. We see Milei was very bad before saying he wouldn't deal with Chinese people but now the relationship very strong between Argentina and China.
The government stopped spending money it does not have, which means prices are not going up as fast anymore. That good thing.
Don't more foreigner people trust Argentina more? Let the government and businesses to borrow money for less cost. In the past, the government paid for part of the people's bills, like gas and electricity, but they stopped doing this. Now, people must pay the real, full price. It is hard for the people, but the government had no money left to help.
Because the money situation got better, banks started giving out loans again. People can borrow money to buy a house or business? Or maybe not because I read many companies go out of business?
The government made a big new law that makes companies from other countries feel safe to bring their money and build things in Argentina. They also made it easier to buy things from outside the country. Before, businesses could not buy important machine parts, but now they can, and it helps them work much better. The government also stopped protecting some local businesses because that protection made things very expensive for everyday people. Now, things can be cheaper. Some workers might have find new jobs, but the country needs this change to grow I think.
The government lowered taxes for people who have saved money or own some things. These people are very happy because they felt old taxes not fair. Also, people from other countries who just visit can no longer get free doctors or free schools. They must pay for these services now. This saves the country money so it can help its own citizens instead.
Many people finally have some hope. They believe the bad times will stop and the country will actually get better. I know it hard for some people but all these things seem improvement to me.
Wally
Well-known member
You have a good take. Keep in mind many expats are angry that they can't afford the same lifestyle as before the past few years. Over the long haul Argentina was not a cheap country. There were many years when it was 1 peso to $1 dollar. There are good and bad with every President. Sometimes it takes someone like you @CXA that is just an outsider but also someone that just comes to Argentina on vacation can't begin to understand how complicated of a country it is.
I hope things work out but am here for the long run even if they don't. Only thing certain about Argentina is constant change.
I just posted this on another thread. I got this newsletter from the AS/COA which is a think tank from NYC that co-sponored the event. It might not be good for expats for Argentina to be more expensive but @ben you wanted a few things Milei did that are positive and the CEO mentioned a few of them.
"This is Argentina’s
Finance Prof
Well-known member
They sponsored the event! Of course she will say good things. Not arguing that Milei hasn't done some good things. But this is biased. Most of these vultures want to strip Argentina of their valuable resources and minerals.I just posted this on another thread. I got this newsletter from the AS/COA which is a think tank from NYC that co-sponored the event. It might not be good for expats for Argentina to be more expensive but @ben you wanted a few things Milei did that are positive and the CEO mentioned a few of them.
"This is Argentina’s
moment. Since taking office, President Javier Milei and his outstanding economic team have stabilized the economy—balancing the budget, bringing down inflation, beginning to address longstanding distortions at the Central Bank, and signaling a more open, pro-investment environment."
If you like that one Jim here is a feel good story a friend just sent me.
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