Why is Argentina's Currency SO CRAZY?
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- čas přidán 31. 05. 2024
- I'm trying to understand how people live in a place where the value of their currency plummets -- almost daily.
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The bizzare situation where bitcoin is more stable than your countriy's currency.
That's really scary and funny.
That's why we love bitcoin here in Argentina
@@slurpieassist8832 lmao, ok. how stable is it now? Unregulated currency won't ever be stable. Stop feeding yourself lies.
@@slurpieassist8832 Well a friend of mine got it's important files stolen by a ransomware and the criminal asked the payment in Bitcoin, so police will never be able to find the criminal because of the Bitcoin, since it is the way they can steal people without being caught.
But then there is the good side of Bitcoin like the one we are seeing in Argentina.
Maybe they buy usdt,usdc or busd
As an argentinian, I have to say that this is extremely accurate. It will be hard to explain our economic situation more clear
What do you think of gold and silver?
@@esetek Argentinian Here, I think that gold and silver could be something useful for rich people, but you can't use it to store value if you only can save 100 dollars per month or less, also the spread between bid and ask is bigger than if you buy US Dollars.
@@fernandou999 thanks
Despite this, the country is still stable because they have the socialist basics, food, medical, electricity etc...they just have to figure out a good austerity plan. How much more can they cut back? Relinquishing claims to the Falklands might help too.
Fácil, poneles links con la basura de Legante, los bolsos del convento, macri en el FEM entregando el país, los judíos camuflados en la patagonia, las cajas fuertes de Kirchner, los "grasitas" de evita, los "descamisados" de perón, la infiltración masónica creando el ERP, la deuda contraída por la Junta Militar, la estupidez de ir Malvinas a sacrificar conscriptos mayormente, la hiperinflación de los 80, la burbuja de Menem, Cavallo, el corralito, el derrumbe de "la ampulosa" Bs As según el inútil de Albergó Fernández, la Chorra preocupada en ser sobreseída, Rosario narco.......
In Argentina we don't ask for prices any more, we just pay whatever the price goes and we accept this as "normal living". Please, live more peacefully, don't live like us.
how do people keep voting for leftists in your country?
@@healord51 They do a lot of doctrine, also public education is quite bad.
@@jose-pe education system is good enough to recieve immigrants like me in this country. You don't value your own country.
@@healord51 because no matter which political system you choose. They all are the same. People feel like to putting the blame on left wing like if right wing were the solution. The problem is not there. There is no solution for any undeveloped country. Period!
@@CanalSDR It doesn't feel like that here, the problem is the masses of badly educated, potential criminals that peronism left so they can keep their power and votes. They are also the reason there's a lot of social plans, they make those ignorant happy, and those in power very rich.
There are 4 sorts of countries; developed, developing, Argentina and Japan. -Simon Kuznets
I have heard that quote, and I would also put North Korea in a class of its own.
In Japan they are rich and not starving. Argentina is just a third world country. Stop lying to yourselves
@@roydeckard112 That quote is form the 80s, when Japan was going through a huge economic bubble.
since the 80's, Argentina has been in free fall becoming one of the most insolvent countries in South America, always on risk of bankruptcy. On the other hand, Japan went the other direction now is one of the biggest economies in the world
Japan is stagnating... Since 1995
Srilanka and Turkey is having it worst as well. Just recently Srilanka's inflation went over 40% and I heard it might become worse
Of course. Sri Lanka in a huge risk
Turkey's pain is temporary. They have the fundamentals of a functioning economy and government. Argentina is next level.
Argentina inflation is like another Tuesday to them
@@indenturedLemon yeah lol
Sri Lanka is on the verge of revolution. The people there have hit the streets. They have had enough of the family which is running that nation. Yes, they are democratic but the current PM has his family in the government. When it comes to Argentina, they need to get the politics out of there economic decisions. Of course, while always providing a safety net for the have nots. Plus they need to clean up corruption.
An argentinian journalist recently said in an interview, "it is really cheap to be rich in Argentina, it is also really expensive to be poor". As always, wealthy people experience a different country inside, this includes politicians. It is not only because the corruption, but also because of their salaries.
Nice video! One of the most complete about explaining our problem.
The idea that the only base of the problems are the political ones is relatively new. It is a twisted and perverse theory that the extreme right imposes on young people.
But they say nothing about the real owners of power. In Argentina it is called "the financial homeland" an order dedicated to the most sinister speculation always against the interests of the people and the homeland.
I'm from Venezuela and I totally know how this kind of things works hahahaha. The history repeats itself.
Lo siento mucho, espero que puedas encontrar un mejor lugar en el mundo. Dentro de poco ya casi que no extrañarás nada de lo malo de Venezuela.
How much would it cost to emigrate from Venezuela to Argentina?
@@viktor8928 why this is happening in South American countries? They are not enemies with the US excluding Venezuela
Brazil will be in the same route within some years
@@healord51 not if Bolsonaro gets his re-election. You still have a good chance.
It’s so sad to see Argentina like this. I miss the culture,food and people there.
In the past they were so arrogant with people from Paraguay and Peru.
@@eduardosotelo4663 ???
Argentina is a racist country filled with ex-nazis.
Argentina has so much potential the culture, the sports, the people everything I've always wanted to visit. Some people have said that Buenos Aires is "the capital of an empire that never happened"
Some day in the past, we were the richest country in the world...And suddenly, someone started to vote for socialism, this Is the result.
@@xeneize285 People started to vote for populist leaders, who promise everything and say that taxes will be low under their leadership. Then all leaders started to do the same thing. Now, if you campaign to increase taxes, nobody will vote for you. But that is what Argentina needs, along with reduced corruption.
@@xeneize285 no it is because of capitalism
@@freeeggs3811 and dictatorships
@@freeeggs3811 no.
Brazilians know quite well what is it like to put up with rampant inflation rates. In the 80's it peaked 90% per month here. Now it is around 10% per year. Our currency does not melt due to the high Central Bank basic rate now at 11,75% and rising. Wish a better fortune to our Southern neighbors and thanks to your channel.
The economy melts instead of the currency, but actually our inflation is also at a record high. We need to address the root causes of inflation not only create an impossible interest rate which doesn't solve the real issues and only depresses the economy.
In Mexico is 7% now and we are suffering a lot. We are used to ranges of 3%. I can't imaging living like that.
@@FOLIPE inflation cause too much government spending not enough saving. raising rates reflects the scary of credit. Encourage people to save more. It hard to not have some form recession in order correct the inflation.
@@FOLIPE Well the root is quite simple, the government prints way too much money...
Tough but necessary to have such high interest rates.
So sad. Argentina is rich in natural resources, with a young and educated population. They deserve better.
if the population is educated why they voted for the people that are destroying their country again and again?
The Falklands will still be British though lol.
the only way to become a rich country is by freedom, not resources
@JAVIER MILEI PRESIDENTE 2023 🇦🇷 They already tried that and got destroyed.... The Falklands have never been argentinian before in history and the people who live there have voted to be apart of the UK.... Good luck taking back the Falklands because Argentinas military is weak.
@JAVIER MILEI PRESIDENTE 2023 🇦🇷 🤣🤣 The Falklands will always be british. Never will Argentina rule over them, The government of Argentina can't even rule Argentina properly.🤣🤣
There are native speakers of languages, digital native kids, and we, Argentinians, are economic crisis natives. I have lived in economic crisis since I was born. You throw an Argentinian anywhere and they will survive, and sometimes create an Empire from thin air.
))
Just believe,things will get better
Pará, que te haces la que bolaceas en inglés, si yo se bien que trabajas de arbolito, gila.
exactly, a rich country with so much potential an incredible people and we are like this for our politicians, is so sad
But hey, the goberment give to us free notebooks * proceed to sell it for gain the equivalent from the food of a only week*
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This is the type of video Uptin should keep making. They are masterpieces. Economics pieces is your thing. Please do a video on the Indian UPI system and BHIM and RuPay.
ahah I like also making fun travel stufff too
@@uptin Then come to India and make fun travel stuff 🙂
My fav type . Keep it up bro
@@uptin do you think with americas huge debt and inflation rising, could the USA end up like argentina one day? everything on paper points to YES it is likely and soon
@@petejames1326 if The U S dollar loses it’s status as the world’s reserve currency. it will eventually happen. However, the US dollar is backed by the most powerful military in the history of mankind so it will take some time before the dollar printing will cause it’s decline. That and when the US dollar is no longer needed to buy oil from OPEC. The Middle East countries are currently bound by agreement to the Us to only accept dollars for their oil from all countries, which makes the dollar valuable since it’s no longer backed by gold.
Great video, thanks for making it easier for me to understand. Much appreciated.
Nice teaching tump up 👍
I will always recommend your videos for beginners to gave a basic understanding of stocks and crypto currency.
It's time the world should appreciate the development of crypto currency, coz the way it makes good returns within a short period of time to, makes it so much lucrative and profitable
Crypto currency is the future, investing in it will be the wisest thing to do especially with the current rise.
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As argentinian and ex economy student I can say all this is correct! Thanks for expose our reality and congrats for your job!
I think it's a very hard cycle to break once that it has started.
Actually it is impossible to break. Hyperinflation is there to plague and stay, its game over once it settles
My father is 90 years old and he says it's always been this way. I lived through so many crisis here that I've lost hope that this country is ever going to change. Sadly, I don't think it would. I'm 60 years old, if it does change, I'm not going to see it.
The only positive solution is with the Libertarians with Javier Milei the only
way to bring Argentina back to its Glory!
Time to kick out this pathetic corrupt Kirchnerist/Peronist Government which
is strangling Argentina's potential and which is crushing the dreams and aspirations
of a rich country converted to a poor one due to decades of corrupt Peronism/Kirchnerism!
Argentine's need to rise up to this Injustice caused by this corrupt Government!
Argentines deserve better!
VAMOS LOS LIBERTARIOS!
LIBERTAD
LIBERTAD
LIBERTAD
VIVA LA LIBERTAD!🦁
From Sri Lanka, unofficial inflation is going at 40+% , we have no usd and crypto is banned, gold or land are the only way
today it's 55% , steve hanke says so
Sri lankas going to set a new record. 🖕🏻 these mf’ing politicians
Buy us doller legally or illegally
Omg store food long term.
When the government managing the economy. You have misery, debt, inflation and poverty.
An Argentinian here, loved the video, you are spot on, great interviews, those people knew what they were saying i agree 100% with them, great work man, subbed and thank you for coming and showing our crazy country!!!
So if I come to Argentina I should bring us dollars and exchange there for better deal rather than using credit card?
how come there is no protest? people seems to be cool with that. In other countries in Latin America, 5% inflation, people want to expel the president
@@bathombre9739 come with 2 dollars and buy the whole Patagonia
@@rudyzk because its normalized, we adapt
I want to visit Argentina.
Went to Buenos Aires a month ago and for me as a tourist with dollars, was incredible. I got double my money and I payed almost nothing for stuff. Been going to Buenos Aires since I’m a kid and is such an amazing city
Not only dollars I am Peruvian and was so cheap as hell Argentina, so sad the inflation
What places to get you go to exchange $$$? Any recommendations? Tired of western union lol
@@MrSabas15 is it hard to go to western union?
@@npcokay who wants to pay western union tax
@@MrSabas15 only 5€ Most of the Time for the payout
As a Srilankan i can confirm that this is how our future life exactly going to be like.
Yes, but worse than these countries.
True
just give and sell more land to china as part of debt trap.. i am sure they can build 3 or 4 more military bases in Srilanka
As an Argentine, my recommendation is that you buy, in any way, dollars (if it can be crypto, better), right now, and forget about them for a year or two.
I've been living in the country now for a little over three years but have traveled to Argentina since 2014.
With every new "government" or president that has been in place over the years the people are never satisfied. It doesn't change.
The problem is a lot of families depend on government handouts and become accustomed to living month by month with those handouts.
It's a cycle that continues from one generation to the next, not working because the government supports them but then complain when things seem expensive.
Before moving, I've seen people with nice cars, beautiful homes, and eating well and I asked myself why can't I live the same ?
You can definitely live comfortable in Argentina if you can bring something to the marketplace.
The marketplace doesn't care that you have six children, that your behind on your debt and that you have medical bills to pay. It asks what do you have to offer?
And sadly a lot of people don't take advantage of the free schooling that is available to them. They can really support their families if a persons gets into the right mindset.
Monthly wage I would say is around 400 dollars depending on what you do. It can reach 600 on a professional scale but you can easily break a thousand a month with the right mindset.
Argentina is a beautiful country with humble people. I wouldn't go back to NYC. I see the United States as a chapter in my past now. The lifestyle here is a lot simpler and less chaotic outside of the big city of course. Nice residential places to visit I would say are San Fernando, San Isidro, Martinez, Olivos. As well as some boroughs within San Miguel, Pilar. La Plata central is also really nice.
I've never felt unsafe or scared living here.
Y en que trabajas?
🤑🤑🤭🤭🤔🤩🤩🤯😳🥶😱👏👏👏👏
If you have all the means stay there, because i feel the love of your country. Argentina is beautiful and im sure the culture as well.
Argentine inflation is due to three issues, 2 of them you mentioned already:
*1)* The high government spending through subsidies on free healthcare, education, and reduced cost of electricity
*2)* the rampant levels of corruption in the argentine government
But the last one you missed is:
*3)* the argentine government is actually hostile to foreign investment
They really don't want foreigners to come to Argentina and give them money or attract entrepreneurship and businesses owned by foreigners or immigrants
Contrast that with the US which attracts individual entrepreneurs or foreign businesses to operate on US soil regardless if foreign born
Instead they want a payout in the form of a loan from the IMF
The combination of all of these things greatly contributes to Argentina's economic woes
A part of Argentina feels rich because this happen for so long, that a huge part of population knows how to protect their capital from government. There is a huge informal economy culture already. After every economic crash lot of people fell behind of course and in these huge devaluations, workers wages get fucked the most, but argentinian capital is hardly destroyed because we know how to hide it and preserve it. When politics change and labor become really cheap (inflation/devaluation liquifies problems), that capital start to reinvest into the real economy.
capitalist keeping money from trickling down the economy, interesting
@@skellurip saving the country, if it werent the case the country would be african at this point. But I think you dont get the point, is not big pockets, is the little guy that owns a local business, autonomous workers, etc. We protect our capital and savings from the government. Even wage-earners do it, the difference, is that they dont control their income streams and high inflation and constant devaluations obliterates their income over time, no matter the nominal rises. Overtime they become poor because the money looses 99% of value in 15 years that is the state fault.
@@vvventure basically big capitalist oligarch saving their own massive asses
and leaving working and poor people with no safety net
then proceed blame all the problems to the populist social security program
A part of Argentina feels rich because he is walking in the wealthiest part of Buenos Aires, thats all. He needs to explore more to see the reality.
@@-bloodhound no, you need to explore more
BUEN CONTENIDO!!! Tengo un gran respeto por su trabajo porque está dirigiendo a la gente en una buena dirección. Su video ha sido muy atractivo desde el principio. Estos son tiempos difíciles y, francamente, aprecio cómo habla de las finanzas globales de una manera tan delicada. Los negocios y la inversión son la mejor manera de ganar dinero incluso bajo las narices de la pandemia.
Exactamente, hablando de eso, hay muchas cosas en las que invertir... Hay oro, acciones el resto y luego también está Crypto.
Creo firmemente que BTC aumentará rápidamente pronto, incluso hasta $ 100, 000 🚀🚀🚀💥. Después de un buen análisis, descubriría la posibilidad de esto.
La criptomoneda ha estado haciendo millonarios incluso más que el oro y algunas otras inversiones, aunque las personas todavía tienen pérdidas debido a la falta de estrategias y tutela adecuadas y esa es una razón más por la que debe permitir que un profesional lo ayude a administrar su cuenta comercial.
Tienes razón, pero encontrar a alguien que te guíe no es tan fácil como parece.
¿Tener un guía profesional mejorará mis ganancias? por favor comparte 🙏
Siempre quise intercambiar criptomonedas durante mucho tiempo, pero la volatilidad en el precio me ha resultado muy confusa, aunque he visto muchos videos de CZcams, pero creo que todavía necesito orientación.
@@collinsbara9379 @Collins Bara Eso ni siquiera debería molestarte, puedes usar la ayuda de expertos, como la Sra. Alyssa Lopez. Gradualmente tendrías una mejor comprensión de las criptomonedas. Yo también era un novato antes de conocerla y, desde entonces, ella ha sido la encargada de mis operaciones.
_"With 15 pesos? With 15 pesos I make myself a top stew!! 🍲"_
- Google Translate 2012, about Argentinian currency devaluation.
PS.: Only English-speaking Argentinians 🇦🇷 will get it.
A high stew!
@@AnoNymous-2013 How about no.
@@dec13666 What do you mean by "how about no"?
hell yeah!!!!
Alto stew
Only Messi's bank account can save the economy.
😂, I'm not sure about that.
unfortunately not even the star could do it, they are so indebted that the BIP of some countries can't save them
@@Guido-Fawkes Hmm. How much is the debt? I am getting mixed numbers on the net.
HELLO, I'M A NEWBIE IN CRYPT0😞 AND I HAVE INCURRED SO MUCH LOSSES TRADING ON MY OWN...I TRADE WELL ON DEMO BUT I THINK THE REAL MARKET IS MANIPULATED... CAN ANYONE HELP ME OUT OR AT LEAST TELL ME WHAT I'M DOING WRONG ?
Same here, My portfolio has been going down the drain while I try trading,l just don't know what I do wrong
That's true most people today have been having a lot of failure in Forex and crypto sector because of poor orientation and bad experts
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade.. I will advice you stop trading on your own it's very risky. Seek advice of a professional trader
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert Mrs Josephine Fred
I'm a huge fan of crypto, I hold few coins in my wallet, while I trade the rest with my Expert, Mrs Josephine Fred, she's really Good.
Healthcare, education, and electricity aren't free when inflation is 50% to finance it. The people are paying for it very heavily with 50% devaluation of their purchasing power every year. That's like a significant portion of your income going to pay for these things.
Just to make buenos aires look pretty, what the heck
Says a lot about Argentinean culture, just fake it till you make it.
Educaction, electricity , etc. Are never free.
It would be affordable to live this way if all the money didn't go to hand free stuff for votes and boureaucracy though
I mean it’s not that much different compared to the USA where Americans pay 90% of their income on food rent and healthcare not to mention the amount of debt we get into. You don’t see Norway or Sweden who have very similar welfare programs have an inflation problem.
@@nunyadambusiness3530 It's not like America at all.
This kind of reporting is the reason I subscribed to you. Please focus more in this type of content.
"What has been will be again, what has been done will be done again; there is nothing new under the sun." From the Dutch to the America's: fiat currency always has the same, unhappy ending. The people want larger governments and more social spending, corruption becomes commonplace, and bad economic practices perpetuate for years until the empire's decline.
Gotta love SOCIALISM.
Yeah, I love capitalism. My stagnant wages, bankrupting medical bills, gentrification, and exported labor
@@williammaywood4194 I'm Sri Lankan, it's a similar situation to Argentina here. I'd rather be under US capitalism, as I was last year compared to the economic situation I live in now.
I'd rather be able to live with my money, in the USA my rent was just 45% of my monthly wage, here, it is over 150%, cars are cheap in the USA, food is cheap, petrol is cheap, even at 6 dollars a gallon a full tank is just 4% of your monthly wage, unlike it being almost 25% here and you are pretty much guaranteed to get a wage raise of at least 2% in the USA, I know it is not keeping up with inflation but at least it is something, and it is way better than what we have here.
In the USA, you can start a business and import what ever you want as long as it is legal, there is less red tape, you don't need to bribe politicians/government officials to get anything done. Your money is safe in the bank and would not be confiscated by the government.
Yes, the USA is not perfect, but it's economy is vastly better than what we have here.
I love Sri Lanka but I also want to earn and live in a place where I would get something back for my effort, that is why I'll be coming back to the USA next month.
@@Aroo_aroo You are right that the US has more opportunities and it is better than the alternative, however I think in the end the best system is a mixed economy not too socialist or capitalist
I’m glad to read cordial discord. Argentina could have a bit of both if they wanted too. They currently are very harsh on foreign investment. Foreign capital investing in Argentina. Which was not talked about in this video.
How does that relate to capitalist and never socialist Argentina?
Nope we can't break the Cycle because of one simple reason: over 50% of the population doesn't want it to change. Those who do want to see it change don't think that it can happen so they leave (as I did) or are planning to do so :(
Nothing changed when that other 50% voted for the previous government.
@@AnoNymous-2013 some things did change. In my opinion they were far from perfect but at least they tried to aim in the right direction... Rome wasn't built in one day and Argentina didn't become the mess it is now because of one bad government
@@santiagopazfigueroa8288 Clearly they didn't do things right cuz everyone voted for this government. And clearly it was not the right direction.
@@AnoNymous-2013 that's where our opinions grow apart. The neverending discussion...
@@santiagopazfigueroa8288 well, you might think that was the right direction but people became poorer during the 4-year long Macri term. So they decided to go back to the known less-bad-evil. A lot of small and medium sized companies closed, the "investment storm" never brewed.
This is the same thing going on in sri lanka 🇱🇰 . Government prints lots of cash every month and the inflation is going up. The price of all the food items, pharmaceuticals, bills are very high and keeps going up day by day. People are in long queues to get petrol or diesel or gas cylinders. Even the milk is so expensive in sri lanka. Government doesn't stop taking debts from IMF and world bank and other countries. Sad to say that this country is no longer prosperous. Government is corrupted. Government officials and ministers have their family vacations with people's money and waste our money for their own benefits.
Country doesn't have enough fuel and there are powercuts for about 6 hours everyday for months now and the government keeps lying to people. Also the current bills are up by 40-50%. Poverty is increasing day by day and people are really unhappy.
Bro keep it up and always thrive for more. You are literally killing it 🙏🏼
Thanks so much❤️
What a horrific condition. All your savings gets evaporated by high inflation if you keep it in Argentine currency.
Finally made ur kinda video, do it more often like this
making a lot of variety that I enjoy
I'm astonished at the quality of this video. Production value. Storytelling. Subject matter expertise. All top notch.
Cheers from Argentina! Something particular about us is that we always know how much is the dollar. I really expect we're gonna drop the peso and just use the American Dollar in the next years
So sad that early 20th century Argentina was one of the wealthiest country in the world, even wealthier than many country in Europe
Except the militarist dictatorship was in every way absolutely cruel. Argentina is much better off now
I am Argentinian living in Denmark. Both countries share quite similar policies and systems, high taxes, free healthcare, free education, lots of subsidies and government support. There is a significant difference in budget though, while in Denmark everyone relies on public hospitals, in Argentina whoever can afford a private service will pay for it. I think the bigger problem in South America in general is corruption, if you dig deeper you will find Mafia-like patterns, no wonder we have Sicilian names.
but argentina and chile are more like second world countries if u ask me. colombia and peru are defintely more 3
The problem is that Argentina is poor, not that it is corrupt.
@@FOLIPE It is poor BECAUSE is corrupt. That is the root problem, corruption and populism. Argentina has plenty of resources to exploit, it used to be the richest country in the world and a place where migrants chose to find a better future, just like the USA and Australia (they shared the same kind of growth for a period of time). Argentina is not poor it is just spending more than it can afford (spending it worngly).
@@duff0120 Adjusting for Argentina's capital & currency controls, and measuring its nominal GDP by the value of dollar exchange in the streets of Buenos Aires (as opposed to the government's official exchange rate which nobody can actually access), Colombia's economy actually surpassed Argentina's a while ago, I think back in 2014, and the difference has only increased since then. Peru's too is in an upward trajectory, because Chile, Colombia and Peru have the most stable finances in the whole region and - consequently - have seen the greatest sustained growth rates in the region the past two decades.
Whether Colombia's economy is actually bigger than Argentina's depends entirely on how one measures the true size of the Argentinian economy, and the fact that that question is even academically valid ought to tell you more than enough about the state of econometrics coming out of Argentina. It is a marvel of a basket case economy, and truly unique in the world.
One last thing: the terms first, second, and third world don't actually have any economic connotation. They were terms created during the Cold War to denote geopolitical groupings. The First World was the West - specifically America and its allies. The Second World was the USSR and its allies (i.e. the Warsaw Pact), and the Third World were the non-aligned countries.
Calling Argentina or Chile 2nd world countries is nonsensical. The correct characterization would be high-middle-income emerging markets (although Chile I think officially qualifies as a low-high income country at this point).
Argentina has the economy of Southern Italy
Great video. Incredibly insightful. Thank you
I'm Argentinian, thank you for this video. And may this be a warning for other countries to learn from our mistakes. Socialism style policies isn't the answer, governments need good fiscal policies
What was the reason for the high inflation? Government mismanagement? Debt?
When was Argentina socialist? Lmao
funny thing is I know a lot of Argentinians in Miami & most would have voted for Democrat/Brandon if given the chance.
@@irobu That's how we are, we escape our own problems and then vote for the same stupid shit again.
Haaa Yes The Socialist Republic of Argentina. When countries fail, they blame America or Socialism. All countries need a stable government with good fiscal policies. China and Vietnam are socialist countries that don’t seem to have Argentina problems.
In Syria the yearly inflation rate since 2011 is over 150%, and with the Russia-Ukraine conflict food seems like a luxury with each passing day.
God will take care of you, just take it easy!
Come to argentina, we can be horrible economically but you will never be hungry our country is like a farm you can be poor but being hungry is difficult here
@@elpibelol5005 Thanks man!
Hope Argentina becomes more prosperous.
To me, I'm just waiting to finish my bachelor studies then I'll migrate to a different country like most young men here. Argentina, Chile, Canada and Germany are definitley on the list.
@@alphahari7210 my grandpa is from Syria 😁
@@elpibelol5005 Nice,
Go and thank your grandpa he immigrated🤣💔
When is about economic and social analysis of a country, Uptin is the best! (much better than CNN, DW, RT, etc., and other news media). Keep up the good work Uptin!
when the standard is already so low it's really easy to pass the bar
This video is very biased to the right. "Inflation happens beacuse the Government prints money" (from 2015 to 2019, the Government do not print money at all and inflation skyrocketed). Inflation happens because Argentines, and our High Class, do not believe in their currency.
Love these kind of videos thanks uptin!
Thank you for watching!!
My god! This video is beyond stupendous. Very well done. Great job researching and capturing a daily (middle class) perspective on this topic.
Quite the similar thing is happening in Sri Lanka right now and my heart breaks for this beautiful country. It's becoming increasingly difficult to survive here any longer. 😕
Our politicians and their corruption are the main reason why we are in this mess.
Sympathies from india man, hope your country does better, we are trying to help
Here to share the sorrow.....😌
@@arnavmathur7646
Help?
people are sleeping on the street in India.. 😅😅😅
Sri Lanka, Bangladesh and India are supporters of Argentina in World Cups. Please support as again!
@@imtiazkhan377 Hahaha says a Pakistani from orangi town Karachi the largest slum in Asia. go and check the news how much Crude oil and Rice is sent to Shri Lanka from India.
Damn I get so nostalgic watching videos about Argentina.. lived there for 8 years during childhood. The level of warmth from the people is nothing you will find anywhere in the world. No wonder lots of bands consider Argentina one of their dearest countries/fans. Also I am so in love with Belgrano architecture and Buenos Aires in general.
I wanna visit Argentina one day. It helps that I speak Spanish as well.
Back in 2005, I spent 3 months in Argentina. There was an economic crisis then. I was able to get a great high rise apartment in Palermo for about $300 for the month. I didn't bargain. I just found a sign in Spanish advertising that rate. And I called up. It was a mystery to me why this apartment would be so cheap. And the owners appeared pretty wealthy. They were so excited to rent me this apartment for what I felt was a pittance. They were an upper-middle-class family, so why the fuss over $300 bucks? But I finally realized after a couple of weeks that getting the money in dollars was a significant windfall for them.
Uptin i am happy to see such a quality video from you. Bravo. Hope to see more
Thanks sm!
5:30 "and no politician wants to be the one to cut some of these things off"
Javier Milei: Hold my beer...
I know there are many Lebanese who live in Argentina, Is the economic situation similar to Lebanon? I know Lebanon doesn't have the social benefits that Argentina has but i saw many parallels in this video. I had no idea it was this bad in Argentina!
I'm argentinian living in Germany, I have to say this is a well done video and you covered almost all, but also you forgot that if you go out of GBA things start to be different, not clean at all, everything is very old and abandoned and dangerous as well.
I'm also surprised that those people you interview didn't say anything about how the government solvent and gives social plans to people who don't work, don't pay any taxes, they steal lands to build precarious houses and they make they're own 'projects', that we called villas.
I could continue explaining but this will take very long, you made a decent video tho, but if you digged deep things start to get dark pretty dark and nasty very fast.
Awesome video!! it's very well explained! greetings from Argentina!
Very accurate video! I hope we get less government soon. The uncertainty comes from the possibility of a politician in charge to do whatever he/she wants. Too much power in the government, too much areas that they are managing. Or I should say "managing".
Buenos Aires has an amazing architecture, people, culture and food! But to say that the city looks "rich" is a lie. It doesn't - it's easy to see that the buildings are not well kept and lack maintenance. Their subway system 'works' and the trains arrive on time, but the infrastructure is corroded - machines to recharge your card are often non-functional, and sometimes it's not even possible to do it at the booths. Stations have their tiles and paintings peeling off. Everything needs more investment ASAP
You put a lot of effort in your videos. hats off to you.
I do, I enjoy creating so much. Thanks for the comment❤️
This is very similar to what’s happening in a south eastern state of India called Andhra Pradesh. The government heavily subsidies on basic commodities and deposits free money into people’s bank accounts just to stay in power. This is taking a huge toll on the development of the state. @Uptin should do a video on this. It would be really interesting to see that..
Then YCP fan boys will attack him too😂😂,Same thing will happen to punjab with so many free schemes announced by kejriwal just to come to power even when having a worst financial condition.
@@Visha054 asia will collapse before punjab does
Wasn’t Punjab ruled by Congress and BJP Akali alliance until this year?
I am from Bangladesh
And here the national election is drama...
Government robbery the vutes and forcefully are in the power since 2008
I don't know when or how we'll break the cycle, but as upstanding and growing citizens we are, we are responsible to break the cycle. Be it not trusting the government, or simply, making politicians know their place, and for us, argentineans, to be more and more free to chose; It'll take some time, surely, but the cycle has to end here
isn't old money oligarch already did just that
I'm a PROUD Argentinian electronic engineer. But got tired of all this and left the country. Now I'm in Europe and enjoying just living in a rather normal economy (putting the very sad war aside)
Why are half these comments about Sri Lanka? Are a significant share of the viewers of this channel from Sri Lanka?
Because same corruption is happening in srilanka.
@@dayalathakiriella3127 isn’t it happening in many countries though? I find it odd how Sri Lanka is being brought up so much
Thanks, somebody finally did this explanation to other people! I really apreciate this! Thank you Uptin!
Even in tough situations Argentinians keep a honest smile in their faces.
Argentina: 50% inflation in one year
Sri lanka: "those are rookie numbers"
Ayo I think the economical crisis is kinda overlooked as the sri lankan government has tried so hard to keep it at shores so can you like make a vid about the economical crisis in sri lanka like the currency inflated by 50% in 1 month
@@julm7744 I'm Sri Lankan we are far from the richest country in South Asia lmfaoooo. Closer to the poorest rn
Don't worry, 50% is not even the worst we've had
If I recall correctly, back around 1990 both Argentina and Brazil had somewhere in the neighborhood of 2000% annual inflation. Paraguay by comparison was a bastion of financial stability, with only about 150% inflation.
But at least Latin America has never approached the heights of Zimbabwean financial acumen. I still have about half a quadrillion Zimbabwean dollars. I don't know if they are even bothering to pretend that's a currency any more, but that was worth less than US$25 near the end. Keep in mind that in 1979 the Zimbabwean dollar was pegged 1 to 1 with the U.S. dollar.
Argentina my beautiful country, this is why I moved to the US. (shaking my head)
If I don't want to help my country, I move to another one. Good way of thinking.
@@CanalSDR Argentina
is hopeless no one can help Argentina. Argentina has been invaded by a cancer called Peronismo since the 50s...
There's a mistake in 01:35 when you measured the cost of the sandwich at the oficial FX. You said USD 23, but it is half of that. Around 10 bucks.
Yep! You are right
This sounds a lot like Brazil in the 80's/early 90's, after the dictatorship and through our first democratically elected governments, before implementing our "new" currency. Saving accounts getting confiscated, price tags getting replaced on a daily basis... not that Brazil is a amazingly rich country now, but we can live a fairly stable life. Hope it gets better, as a south american myself, I always admired that you guys had this Buenos Aires "classical" architecture, aswell as places with the trully classical colonial architecture in some places.
Here, with the exception of a handfull of places, is rare to see something that well preserved.
Brazil is still the same shit like Argentina. You pay 10 reais (400 pesos) on 1 liter of gas and even more the prices are raising up. If you want to buy groceries. You can badly buy red meat, chicken or eggs. Everything is overpriced. You have a clown as president who is drowning into ocean. We are on the same boat but with different issues.
As a personal opinion is that the good things you have in Brazil are:
-good labour law ( here the companies will almost never pay the pass for you go to work)
-good football players
-beautiful places and culture
- hot men :)
@@CanalSDR Brazil inflation for 2022 is expected to be around 12%. Argentina inflation is well on route for surpassing 70% this year.
There is really no comparison. Perhaps if Lula wins he can challenge the inflation of Argentina, not with Guedes though (and lucky for us, we have a neighbor to emigrate to if things get more shaky over here)
@@CanalSDR Ohh, don't even mention our president, you will be flooded by his supporters. But yeah, he's a clown.
About prices, we have seen increases in specific products like you said, red meat is an example, rice as well, and gas (this one has been an important topic on politics since the 2016 impeachment, since gas was subsidized by the government before). But for other things the prices generally fluctuates, it increases and then decreases, depending on the season and other factors.
Tomatoes is a recent example. I wouldn't say that food is overpriced here.
Other things like electronics, on the other hand, are. Mainly because of the taxes over those. I live on the western side of the country, and it is really common to travel to Paraguay to buy electronics. It is almost the norm. It is even worse for viddeogames, because it is classified by the government as a toy, and they put the same taxes for it, which is bigger even than the ones that they use for electronics. But, it has always been like that, the launch price for the PS4 was basically the same of the launch price of the PS5, even without taking into account the inflation.
So, when I say that we're not rich but 'stable' it have it's ups and downs.
Edit: and also, about the PS5 price, I forgot to mention that our money had, like, double the value that it have now when PS4 launched. Which makes it really surprising that the PS5 launched with basically the same price. Pricing for the games themselves have been increasing, on the other hand, but not by a lot. They always had fixed prices for games on launch, and even when our money was stronger, they had always been over 200 reais. Now I believe that the standard price for a AAA title , on the day that they release, is 299.
Edit2 (LoL):Just for a straight comparison, I've been recently to Lollapalooza AR, the price for me to travel there, buy the tickets and stay for 3 days, was about the same of what I would spend to go to São Paulo, where Lollapalooza happens here. But being more specific, the flight and the tickets, was actually cheaper, food and hotel was what made it equal. Culture here is considered a luxury thing. Attending to festivals, shows, theater, is really expensive, and has always been, since I was a kid.
Would someone add his two cents here about how to evade inflation in such situations? What's the best strategy to adopt in this situation?
I only know 2 methods:
The most common its buy USD in the "black market" you use 20% or 30% off you salary buying "Dolar blue" its called "blue" because the goverment have the oficial price but no one sell dollars to that price, In short, you buy dollars so as not to lose purchasing power and "beat" inflation.
The second method its less ussual, people buy materials for construction in other words, if you have a small terrain you buy materials because they go up ussualy at the same lvl of the dolar, its less ussual because in argentina its very complicated to have a terrain to build your house.
The golden rule is NEVER HAVE PESOS ON YOU or invest on something or buy things for your home.
@@CronoxSamp sounds good
Here in Argentina it's increasingly common (especially for young, middle class people) to try to get remote jobs (mostly in tech). Being paid in foreign currency is the only real way to evade inflation.
Buying foreign currency or accumulating goods helps you to have a reserve of value against the devaluation of currency, but if you earn in ARS, your wage purchasing power will go down every month, meaning that you will be able to buy less dollars, go less frequently to the grocery shop and etcetera.
@@tommyboman7735 4. Don't spend more than you earn. Too many subsidy will destroy a country. This is similar to what happens in Greek, huge subsidy and huge debt.
Getting paid in stable foreign currency like USD, Euros or even Reais (Brazilian currency) is like a dream here. It's even used as an euphemism for someone that's very rich, you say "he must earn in dollars"
Really good video and informative! Thank you
Thanks for watching!
nice pic
@@PatrickJD thank you
Amazing video clearly telling what's going on there, Thank You!
It's funny that in Argentina you can't spend more than 200 dollar mean while in Nigerian you can't spend more 20 dollar or in some banks 100 dollar...
Thats not funny. Thats unacceptable.
@@aSuperEgo but it's true
7:32 I think she said "That's robbing" ["That's theft"] but the person who did the subtitles wrote "That's scrubbing" 😅
yeah there were like 10 times this video where the subtitles were wrong
Man your channel is flawless... excellent report...just sunbscribed.
About 90% of all dollars that are in argentina aren't in banks, after what happened in 2001 most people stopped trusting in banks and instead they have their dollars under their beds or hidden somewhere in their houses rather than in the banks.
3 months later... The blue rate (1usd) went from 210ars to 350ars.
"Tomorrow this could be 3 dollars..." Well, it is 2.8 dollars now (1000 bill)
This year we will have about 90% inflation
ah peero macri
Good video! I know it's hard to try to explain an social-economic situation in 12 minutes, but i think it's key to highlight that people saves in USD under their matress because they don't trust neither the goverment neither the banks (back in 2000 they took the money from the citizens), in addition local currency lost trust every day plus there are some goods that they are quoted in USD (such as cars or any property). Imagine you save X years in a local currency, and from one day to another (cause inflation, devaluation, etc..) you end up having less than a half of your original savings. 3 years a ago, with ARS $200,000 you could buy a car, today with that amount you can buy a fridge (there are even more expensive and for sure cheaper).
Not only for that, many people can not explain how they've got those dollars. As our unregistered economy is very big and also beacuse of the Government controls on how much dollars you can buy per month, people decide to put them under their matress because it's unregistered money.
Many years ago during Argentine hyper inflation, a man I knew who would I guess be 80+ now told me his salary went up so much that he was able to pay off the mortgage on his apartment with one of his periodic paychecks. That was great for him but not the bank holding his mortgage....
Now I guess all mortgages are denominated in USD.
@@steved8053 probably it wasn't on hyperinflation (1989), it was in 2001, when Argentina exit the "convertibility model" (ARS 1 = USD 1). Your debt was in local currency, which was in USD... with the crisis, government decided to convert all debts in local currency.. so if you owe USD 10K, you'll owe ARS 10K, which with a devaluation USD 1 = ARS 3,20, your debt reduced at almost 33% (the situation is very summarized). He was strongly benefited with this, however lot of people couldn't take their USD from their bank account and their savings were forced to a local conversion plus a retention for many months. Many people suffered it. Since that period, it almost impossible to get a loan to pay a house (there was a special program which was adjusted by inflation - which today it's a problem).
@@julianbeltran4200 yes, could be part of the problem as well, but I guess many other's reason is more related to trust issues than explanation of the origin of the money. Many "rich" people decide to trust banks abroad than local banks.
@@jmqc89 they trust banks abroad beacuse they don't pay taxes. Argentines don't fear banks, they fear that their money comes from the black market. That's why many people today lend security boxes in banks to store dollars. Corralito happened in 2001, 20 years ago, the fears that the bank will retain your money is a myth that is installed every year, but no, we have laws that prohibits that.
I was in Argentina October 2011 for 19days for football tournament crazy how much it change and people still struggling..
such a great video to explain our situation !!!
This is the situation in Sri Lanka 🇱🇰 too there is petrol gasoline foods milk powder price hike day by day hope one day every thing will be ok
A year ago 1USD=190LKR NOW 1usd=340lkr
370 today in a place in Wellawatta
@@Aroo_aroo It even hit 400
argentina has everything to become developed like they once were, it's sad to see people ruined by inflation.
Chill we have one last chance, the new movement of liberalism and it's growing a lot
@@elpibelol5005 honestamente viendo como la izquierda se sistematizo en todas las instituciones publicas en argentina pues dudo que se puedan desprender de los zurdos asi de a primeras si milei o cualquier otro llegue a su presidencia. animos y ojala no caigan en la nueva marea roja del socialismo del siglo xxi
@@1lyxbollyvykn714 Milei tiene la imagen pública más alta en las provincias menos en Buenos Aires
Argentina was never a developed nation, it did fairly well in the early 1900's because the world demanded a lot of exports from Argentina. But as external and internal crisis and political inestability got more severe, it started to fall apart. As the rest of Latin American countries, Argentina has a very flimsy democracy and a very powerful oligarchy that has been running the country since it's independence. They are the ones benefiting from destroying the Peso, that's why this devaluation has been going on for over 20 years with no signs of stopping anytime soon.
@@clorox1676 that's fake, you are just telling the socialist fairy tale who deny that they destroy our industry because we never have one, actually we did have industry but all the companies and entrepreneurs left when the taxes began to be unpayable and when they saw that the state could nationalize them at any moment
We in Pakistan are going through something similar right now, it's a vicious circle, people buying US dollars for savings and the demand keeps rising further devaluing the local currency.
This is really well done. You will have over a million subs in the next couple years or a job on one of the more left tv media networks. Just leaving this here to see if i’m correct in 2 years.
" A stable currency like the U.S. Dollar" I wonder what is going to happen when the U.S. Dollar is no longer the World Reserve Currency, scary times ahead!
I found that hilarious, because the US Dollar has also seen massive inflation/devaluation through endless irresponsible quantitative easing by the Fed.
You’ll see global famine
@@hermanhenderson966 Even when those Stimulus Checks were coming fast and furious, when that extra $6 Bills of $cratch was coming in every week....I just had a bad feeling something had to give. Either I was going to get croaked in Taxes or something was going to be a counter balance, well, I think the worst is yet to come. Sorry fellow posters, I just something bad lurking on the horizon! Maybe it will be Hyperinflation.
@@cardphins68 you’ll see the usd start to plummet and the west will bow to Russia there are countries that can’t stand the loss of oil imports. You’ll see reserve currency change from usd and once that happens it’s game over.
@@hermanhenderson966 I wish I bought more Gold! I think it would be wise to put money in Silver as well.
So if I was travelling to Argentina what would you recommend I should do concerning currency?
Use western union, not credit cards or debit cards from abroad
Bring usd cash and exchange it on the streets (cautiously)
Use USD or Euros, cash. Many places in touristic regions accept those. Then you can also exchange your money cautiously in trusted "parallel exchange houses" (look then up online). If you need to withdraw money better do it in Brazil or Uruguay or Chile. Brazilian reais are also pretty well accepted in Argentina.
"parallel exchange houses" in Argentinian "cueva".
ask around hotel managers, they know the game
edit: or better yet... why you want to come here?!! just dont!
This is quality journalism
Thanks Uptin
Namste 🙏
Thanks for watching❤️
Great content bro, thanks
I’m happy you enjoyed!
Politicians: "The solution of poverty is to print alot and alot of money, so that everybody will get rich!"
Federal Reserve Bank: "Hey, that's my job!"
I want to see this on the business owner perspective. How on earth do you make money when the fluctuations are this crazy?
If you're selling 100 apples and you sell them for 10% profit. Let's say$1.1 per apple and you get $110 revenue for a day. Obviously you need to restock those apples. What happens the next day when the prices rise? Let's say an apple now cost $1.2 to restock. You'll need $120 to restock your inventory, more than yesterday's revenue. You'll have to put in $10 more out of your own pocket just to restock it.
That's called the risks of running a business.
@@erweber that's called the risk of living in Argentina
Most prices include a % of what the business owner calculates he is gonna have to pay to replenish the product he is selling to you.
If they buy the apples for 1 dollar they will actually calculate the restocking cost and add it to the selling price, if they are planning to get 1.1 dollar per apple, they will probably sell it to you at 1.2 (And it actually gets a lot worse than this for stuff that it's imported because the government has quotas)
Source: I live in this mess.
@@erweber disgusting.
I watched the video completely then I clicked subscribe button then I saw 54K subs, I was like what! I thought u had a million, because the production, quality, narration, all top notch ! I hope there will be a day where u will reach a million and thanking everyone of us 👍❤️
Amazing exposition of the issue. It’s so valuable to have the visceral accounts of the average Argentinian’s lifestyle and mindset in response to inflation as opposed to a sterile numerical/economic lecture. Argentina is a beautiful country with intelligent, talented, and grounded people. I’ve known a few in my life and they all lament that they cannot live a stable life, let alone an auxiliary “American dream” in their own lovely homeland.
It will be interesting to see how this country, and its government, handles a (highly
probable) global recession.
I burst out laughing when you gave him the 100 dollar bill and he said "picante picante el asunto". Roughly translates to "spicy spicy business" or something along the lines of "thug style business", cause he clearly expected him to trade a big ammount of dollars and the single 100 bill was just comical as you took it out
This is extremely scary. I feel for these people. I have no idea what I’d do besides move or put all my money in crypto/foreign currency. And those who are struggling to pay rent and food can’t even do that, so they get pushed down even harder
i mean.. sure it must feel scary for outsiders but we dont really need pity. Most young people have the mentality to leave as soon as they can but when they do, most end up returning because other countries dont offer as much as Argentina can. The goverments have been shit i wont deny that but if this country has something is that it gives you opportunities for free and you just have to take them. With proper education and a degree you can have a good working life, just dont expect to finish high school and get a high salary job.
@@justanothereldenlord8165 i have no idea how you say that most young people leaving the country return afterwards, i've already had to say goodbye to a couple of friends who've left the country and they're definitely not coming back lol. i'm 22, still here but i'd leave this shithole as soon as i get the chance, same for my friends.
@@JuliTV123 O sea que por un par de amigos tuyos que se fueron para no volver aplicas regla general? yo tambien conozco gente que se fue y ya hizo su vida afuera, no quita que hay una gran mayoria que se va (vi bastantes) y terminan volviendo porque el sueño europeo no termina siendo el que le vendieron. Si, ganas mil euros de salario minimo pero cada viaje en transporte publico de sale de 2 a 4 euros, ya ni hablar del resto de gastos que aca en Argentina son minimos o nulos pero que alla te parten, a eso sumale el alquiler que tampoco es barato, llegas a fin de mes medio cortina y al final te das cuenta que no estabas tan mal aca. ojo, yo tambien si tuviera la chance me iria, porque no le debo nada al pais, pero tampoco me voy a ir en pelotas a vivir en un monoambiente con un colchon tirado en el piso, llegando a fin de mes con unos 100 euros restantes. Argentina puede ser una cagada pero podes llegar a formar un plan de vida si la pensas bien. Ni hablemos de irte a estados unidos donde la consulta medica o un viaje en ambulancia te saca todo el sueldo...
@@justanothereldenlord8165 Si, porque es claramente mas la gente que se va a afuera y se queda que la que vuelve, me acuerdo el año pasado de haber leido hasta un artículo donde se decía que el promedio de adultos jovenes emigrando eran como de 100 por día, la calidad de vida afuera podemos coincidir que es indudablemente superior y por mi eso ya de por si valida su elevado costo, vos podés vivir en argentina y tener tus gastos planificados pero te estás comprometiendo a tener peores servicios, una economía completamente insustentable, inflación donde los precios suben mínimo mensualmente, ni las inversiones ayudan a contrarrestar una inflación anual que nos supera un 60%
edit: ah y claramente la posibilidad de desarrollarte profesionalmente afuera es mil veces superior, podés tener un título de ingeniería y aun así apenas realizar y cobrar extra en comparación a lo que hace alguien que solo realizo un curso de uno o dos años en este país, la aplicación de conocimiento técnico y científico no está a la altura a lo que se puede hacer
If you visit our country, you are helping us. We have extremely beautiful sightseeing.
The reason why we are going through a soaring inflation rate is clear-cut and it's mainly triggered by printing money besides the high deficit we're facing. The government seems to turn a blind eye to this issue since they deny that this problem is a monetary phenomenon. We MUST cut down on public spending !!!
The problem with vested interest is that they don’t want to give up things. It require breaking the idea of getting things for free. Education is the only solution.
Muito top seu vídeo! Olhei todo ele!
Um abraço e até mais!
Argentina is a good window into the future of the USA.
I would start using gold and silver. The US is also inflating away its currency, 10% last year. The Canadian government froze bank accounts and crypto wallets of the truckers who were protesting. That tells me that digital currency is worse than cash in certain cases. Crypto has been around for about 10 years, gold and silver have been used as currency for about 2500 years. Hold gold or silver in your hand and you will understand its value.
@Xi Jinping Quit trolling, this is actually serious.
Our public education and healthcare its in dire bro. My brother got intoxicated at work, went to night guard and no one helped in 6 hours of waiting for Someone to be "available" to.
Teachers salary, schools infrasctructure, roads and overall amount of college graduates is tiny or unexistant. Entry jobs are 93% of jobs we know that all too well.
Our governments live in the 70s sadly, when they die or leave we'll have something going for ourselves.
Good reporting.
Thanks Kenny