41–50 of 184 posts
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A large government spending lots of money. Add in wage and price controls (classic authoritarian leftwing policies), and economic ruin was an inevitability
Inflation has nothing to do with libertarianism and everything to do with a state that tried to run everything and inevitably failed.
“To give you have an idea, within the first 2 days in Argentina, I dealt with over five different rates. A restaurant actually offered me the proper blue rate (1100) to pay for the bill, whereas one cueva (informal exchange house) offered me 1050 and another 1070. The kiosk where I bought a SIM card from had it at 1060, and Uber, who did the currency conversion themselves rather than leaving it up to my credit card,…
I guess some US cards also charge a lot for foreign transactions? I always paid in pesos on card, and in fact I don't think anyone ever even tried to charge me in dollars. Also, with Uber, you're not likely to get many rides if you pay by card.
Argentina has been like this for a very long time. I studied abroad there in 2019 and it was exactly the same. I believe one of the reasons Brian Armstrong started Coinbase was because he saw how devastating inflation was to Argentina’s economy. Argentina was at one point a top 20 country in the world wealth wise and has obviously gone very down hill. It’s too bad, a lot of talented tech workers there.
>And Argentinians, thank you and best of luck. Just please let’s do better lunches than milanesa con papas next time, deal? Milanesas are a godsend tbh though
Knew this would be a bit of a contentious point! Have you seen how we do lunches in Brazil though? (search for images about 'self service brasil' for instance)
But to be honest: empanadas > milanesas
“To give you have an idea, within the first 2 days in Argentina, I dealt with over five different rates. A restaurant actually offered me the proper blue rate (1100) to pay for the bill, whereas one cueva (informal exchange house) offered me 1050 and another 1070. The kiosk where I bought a SIM card from had it at 1060, and Uber, who did the currency conversion themselves rather than leaving it up to my credit card,…
Actually we found we got better rates elsewhere (El Chaltén hotels for example would exchange at the daily blue rate from DolarYa) plus the random restaurants were the ones usually offering the legit rate. Unlike the cueva, they actually don't have leverage, and would love to get their hands on some dollars. We never exchanged money like this, but were happy to pay the bill in dollars at the end (prices were never se…
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the experience of a state that is far too effective at fucking up the economy is why the argentines elected a total nutbag as president on the strength of his campaign promises to vastly reduce the effectiveness of the state
For those not keeping up with the news, Argentina used to be an extremely wealthy country, but went the reverse route many decades ago and has embraced peronism for awhile (kind of a mixture of socialism and fascism) that has led to rampant inflation. They recently elected Javier Milei (an economist and former sex guru) who although some media claim is a radical rightwing candidate, center-right Libertarian might be…
I think this is a pretty fair assessment of Milei. Do you feel the sex guru part adds much though? Maybe he is in an open relationship, or actually gay, or xyz... does it matter in his economic reform plans for Argentina?
“To give you have an idea, within the first 2 days in Argentina, I dealt with over five different rates. A restaurant actually offered me the proper blue rate (1100) to pay for the bill, whereas one cueva (informal exchange house) offered me 1050 and another 1070. The kiosk where I bought a SIM card from had it at 1060, and Uber, who did the currency conversion themselves rather than leaving it up to my credit card,…
Actually we found we got better rates elsewhere (El Chaltén hotels for example would exchange at the daily blue rate from DolarYa) plus the random restaurants were the ones usually offering the legit rate. Unlike the cueva, they actually don't have leverage, and would love to get their hands on some dollars. We never exchanged money like this, but were happy to pay the bill in dollars at the end (prices were never se…
A month for me was There’s also FB groups for expats to get a slightly better rate from shifty brits.
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