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Awesome video but the last part (present time) which I was expecting to watch to see your unbiased opinion was short and inaccurate. Thanks for the video! Please try to make a new one with the current crisis and future prospect ;)
I´m from Argentina. I no longer read the newspapers, it's too depresing. I just read the headlines every morning just to make sure that the country hasn't exploded while I slept. And check the exchange rate every couple hours or so.
Oof man, sorry. I too come from Latin America, and actually where I come from is MUCH worse than Argentina, so don't feel that bad at least your nation is livable. I did manage to get out of Latin America though, like that one meme lol
@M e olvidate, yo haría lo mismo, pero supongo que nuestra situación actual no es tan desesperada como la que los llevo a venir acá. Me pregunto lo mismo yo, sumándole también lo similar de sus culturas. Es más fácil sentirse en casa allá que acá.
I only spent one semester studying abroad down there 10 years ago and while there I had some of the most real, inviting, and caring friends ever. Still friends on Facebook with many of them and even celebrated Thanksgiving with one just a few years back when he was visiting the US. Incredible people, deserving of much more faithful and capable governance.
It makes sense when you realized Argentina is the country with most english domain population in Latin-America, oddly enough, it's english is superior to that of Mexico despite being neighbors with an english speaking country. Pero ni hablemos de pronunciacion porque no se entiende un carajo, nos defendemos en la escritura y hasta ahí, hablar es very difficult.
That's right it went 3 to 1 in the early 2000's after abandoning the fixed rate fortunately the next decade provided very high prices for commodities and the government was able to get the Dollars needed to ward off devaluation until a bit before the 2008 crisis and after that inflation at around 25% began to kill the exchange rate
Not gonna state the negatives, since they're obvious, but just keep producing legendary footballers/soccer players. Looking forward to see which Argentinian becomes the next Maradona or Messi.
Yeah you are stagnated in the Kirchner and Macri drama instead of looking for better pro-technology leaders. Btw, Nissmam was your biggest mistake, you didn't do anything we all knew something went wrong with that country when Mrs Kichenr remain free of charges but also, the vice president. Still waiting one day good leaders helps you out but seems impossible you have already that mentality of giving up.
Cuando la mitad de los niños son pobres y no tienen acceso a una buena educación, es más fácil engañarlos cuando se hacen mayores. Saludos desde España, vamos al mismo barranco y a paso firme con este nuevo gobierno social-comunista.
Acá te podés morir saliendo a la calle cuando te pega un tiro un Brayan o cuando te pisa con el auto alguno que le chupa un huevo los semáforos o de hambre pero NUNCA por aburrimiento
@@alandan5396 "Acá te podés morir saliendo a la calle cuando te pega un tiro un Brayan o cuando te pisa con el auto alguno que le chupa un huevo los semáforos, o directamente de hambre hambre, pero NUNCA por aburrimiento" -Alan Lamas
As an argentinian I think that we as a society do not punish hard enough corruption. We are quick to forget those who robbed us. We are easily manipulated by ideology. No corrupt politician had a decent punishment in the last 30 years. And the Argentine culture often turns this into comedy rather than example. There is no public shaming of this ppl, and they are often concidered "cool" or "smart". So its a cultural matter. As long as Argentinians keep looking the other way, or even fighting over ideologies more than about political morals, this will continue.
Argentina is one of those few countries that know the exactly how much is a dollar, even if it changes everyday. And not only that, we know that blue dollar, the official dollar, the one with taxes, etc. You go to the streets and ask an Argentinian how much is a dollar and they can tell you from the top of their heads.
efcharisto poli filo! indeed, I've been living in Athens and the similarities are frightening. But also Greeks are as easy going and cool as Argentines. I felt like home
We are heading that way, with the latest price increase, all GPU prices tripled, most young folk are investing heavily into crypto. I'm from a smaller city on an argentinian province, and even I have a store 3 blocks away that changes pesos into crypto.
Hi and Hello. I gather people for a good cause: I wanna provide people with Links leading to bad or toxic people. Mobber, Racists, Sexists, Bullies, more. I got the Links and i need help with reporting them. UA-cam is in a bad state and i think you heard of that. Many complain about it, its strike-system and its CEO: Susan... But... I mean... complaining about the State of the world is nice and dandy, but... how about acting? Doing something? So i made a Wiki where i store Links for all to use. You can at least pre-emptive 'block user' regarding the Racists and all those, but you can also do one thing more and report them, so YT becomes a better place. I know this was random and also overly summarized, but think about it and consider. You can make a difference. Means: I gathered and confirmed many Links. And made a Wiki to provide the Public with them. Wanna help, too?
Descrito en una frase: "Impulsan proyectos para arreglar problemas, que generan más problemas de lo que arreglan, lanzan otro proyecto para arreglarlos, generan más, y así" Por ejemplo: ¿como impedir la perdida de puestos de trabajo durante la pandemia?, prohibiéndole a las empresas despedir gente Resultado: Contratan menos gente, por miedo a no poder despedirlos si no hacen bien su labor, también causando que varias empresas se vayan a la quiebra, al no permitirles reducir su gasto pese a que cada vez generan menos
Todo esto se soluciona fácilmente: con una plataforma en Córdoba, para que las naves salgan de la atmósfera, se remonten a la estratosfera y de ahí elijan el lugar a donde ir, de tal forma que en hora y media podamos estar en Japón, Corea o en cualquier parte del mundo.
I'm from Argentina. It was pretty interesting to listen to your opinion. I agree pretty much with everything you said and I loved the explanation of the Argentine historial background. I just would like to clarify something about the bound between the american dollar and the Argentine peso. Our wages are in Argentine pesos and nowdays, we can't buy more than 200 dollars. Dollars are also our saving currency.
Yeah, and if you are subscribed Netflix or some streaming platforms you get that money discounted from the original 200 dollars that you are allowed to buy.
While this is mostly true, it is also worth noting that the higher paid the job, the more chances you get paid in dollars. For example, if your employer gets paid in dollars.
I don’t feel sorry for u. Your salary is what u produce. . Your economy is not competitive and the dollars you got by IMF loans were spent in travels overseas by your middle class . In criollo : los argies quieren cagar mas alto que el culo
Basically economics is: Do the exact opposite of what Argentina has been doing since the 1930s. It's incredible how it keeps being one of the richest countries of latin america, even thought it has tried to destroy itself as much times as Spain has. PS: I think the data of spanish vs british colonies should be more explained. What is a british colony, Israel counts? You weighted it by population? Did you include half of Italy?
I was thinking the same thing. Like one keeps hearing how bad of a state the country is in but then it still has one of the highest economies in Latin America. I wish he explained this more in his video. Is it all truly doom and gloom? How is the life of everyday people? Also, by British colony, he means countries that were mostly settled by anglo Saxons (US, Australia) and/or have strong English traditions such as government and cultural links (language, sports) such as Indian and South Africa.
@@dennis771 And in the 19th century, especially with Australia, New Zealand and South Africa (and those parts of Canada not settled in the late 18th century by Loyalists from the US). Not to mention that in absolute numbers, the US got the most British immigrants in the 19th century. And yes, British colony means where it was not only ruled by Britain but also received major British settlement, especially in the mid-latitude areas (not tropical areas like the West Indies, Africa or India). And no, Jorge Gomez, Israel doesn't count because Palestine (including Transjordan) was only a post-WWI British mandate, just like Mesopotamia/Iraq.
Los españoles nos dejaron cosas maravillosas como el idioma y la urbanización en damero. Y cosas medievales como el catolicismo. Somos latinos porque descendemos de los romanos. Esos fueron bien pulenta y decayeron hasta lo que somos hoy en día. Todo por ese logi que se pasó al Pope's Team.
@@EdubertoPalitroke Irlanda también es Católica y es de los países más ricos de Europa, tiene una riqueza de practicamente el triple que España para que te des una idea. Yo soy de Perú, y pienso que la cultura católica es bastante buena, al menos en mi vecindario es una cultura de libertad, yo podía hacer preguntas muy incicivas al sacerdotes, sobre por ejemplo, los casos de abuso sexual, corrupción en la Iglesia, La Forma en como evangelizaron a los nativos americanos, etc. Y te dejan preguntar sin miedo, y no te gan respuestas fanáticas, la mayor parte de veces, simplemente pedían perdon, aunque eso me molestaba, no tiene ningún sentido que un católico del siglo XXI pida perdon por lo que hicieron los catóiicos en el siglo 16, es enfermizo, es como ver a Alemanes disculpandose por lo que hicieron los nazis, NOO, yo creo que la culpa es individual. En Cambio he encontrado sectas, dónde si esta prohibido preguntar demasiado, esta prohibido escuchar música popular, esta prohibido usar ropa moderna, una locura, eso si es una secta y eso si es peligroso culturalmente.
You know... after living all my life in this beattiful country, i've only have 1 thing to say: Saquenme de argentina, soy bueno lavando platos y pisos. Ni te cuento inodoros.
Actually, in the 90's, the exchange rate with the dollar was 1 to 1. It was done so after the hyperinflations of 89 and 90, where the Austral got to 10.000 to 1. In 2002, the convertibility law was abolished and then it became 3 to 1. And it stayed between 3 and 4 until 2013 aprox. Since then, it didn't stop falling. Today is 166 to 1.
@@luisvilla799 It's 84/1 official today. So he must be referring to blue rate. Official was about 8/1 when I went and I got 15 on the black market. It's illegal and a little dicey. I had a couple of close calls. Gotta feel it out and don't go into any remote enclosed spaces and give the bills a good look for counterfeits. I found a guy who let me do that and take my time. You'll get more for $100s than $20. My first try on Florida in BA (where most of it is done), I went into a room and then the guy wanted to change to a lower exchange and a couple of guys closed in at the door. I just booked. I figured if I had to fight I would. They let me pass. But it was scary. They know you have a ton of cash on you. They can't do it blatantly out in the open, but don't go anywhere enclosed and too far from traffic. It's probably winked at, but it's still a crime, and you're dealing with dodgy people. My parents had just gone before I went, and they did everything legit, but I took $3000 US with me and spent 3 months there with that. Covered everything but the flight. I would have felt like an idiot had I paid regular rates. But I had a ton of pesos on me all the time. It was a lot of fun. Go to the Patagonian Andes, and dont miss El Chatán (if you hike) and Iguazú
@@nicholasschroeder3678 there is a "cepo" or lock in who and how many usd an Argentinian can get in a bank since last elections. The only usd we can get is the "blue" nowadays, so official is a lie (only used in favor of the goverment to get more usd to them). Also, where you were was a trap for tourist, its kinda legal what they did, and they just scammed you. With the right contacts is easy to get usd in the right blue price (usually checking the price in ambito.com while the transaction is being made). It is not a crime to exchange currency, at least here. The problem is if they "mark on you" and then send some "amigos" to "ask gentilmente" for your money, far from where you exchanged.
Oh man, such a big shame. I really love Argentina, and I'd be glad and really like to live some years there, it's an amazing and beautiful country with super fun and nice people. But I can't picture myself living in a country that today is Central Europe and tomorrow is Venezuela, and the day after tomorrow could be Portugal or could be Haiti. I really don't understand why is it so hard for Argentina to have an stable and strong economy, but this video helped me a lot to have somewhere to start. Thank you!
Because we live at war, people prefer to ignore it but it's the truth. There are 2 Argentinas, separated by values and separated by race. You can notice that if you go to Buenos Aires city, and then travel to Salta or Formosa. You'll notice those changes in a matter of minutes. The north invaded the south, with its people, without guns.
@@jackdanila9893 no....nada que ver.....es por que tenemos sangre italiana y española dos paises corruptos y con economias mediocres ,argentina es el resultado de zurdos europeos,a los peruanos les va mejor y son mestizos a los chilenos les va mejor y tmb son mestizos
@@ojberrettaberretta5314 los chilenos no son tan mestizos, son parecidos a nosotros. Además de que si bien la mayoría de europeos eran de españa e Italia, también vinieron importantes números de alemanes, rusos, franceses, ucranianos, polacos, irlandeses, y te lo digo porque en mi ciudad es mayoría europea, y nos va de maravilla. Es de los municipios más ricos de Buenos Aires. Y hoy en día los blancos europeos son una minoria en argentina, se aproxima que un 65 porciento es mestizo, y un 30 o 25% blanco, por esa razón es que ya estamos iguales que en el resto de Hispanoamérica. Cuando los blancos eran el 85% en 1930, éramos una potencia mundial. Cuando Perón empezó a importar indios y mestizos, y se perdió la conciencia racial, nos hicimos pobres y miserables. Antes se festejaba porque éramos el mayor exportador de granos o inventabamos el primer helicóptero funcional. Hoy en día festejamos por una canilla de agua en el Congo urbano. Hablame de miseria
I tink that people who work in the IT sector for internatinal companies get his salary in USD. Anyway how many peole works in that sector? The rest of 98% of the workers get payed in Pesos that have les backing than Monopoly bills
@@juanckg2666 I'm electrónic engenier student, and all the Jobs is in pesos. The only way is be programmer to the outside... But You can't bring in dolars... The "oficial" value is like 87 pesos... But the real is 147. And, like the at least 30% taxes ...
@@TheArkanhell1 Si si, no trabajo en IT pero he leído en algunos foros que muchos programadores que cobran en dólares los ingresan a su cuenta bancaria con Payoneer o criptomonedas. Pero solo es la gente que trabaja para empresas internacionales que puede hacer eso, el resto se tiene que conformar con papelitos de colores.
@@juanckg2666 yo trabajo en it, y aun asi no te dejan ingresar dolares. si o si el equivalente en pesos "oficial". esperemos algun dia sea tentador quedarse en el pais y no emigrar para poder ganar dinero real.
@@gordonjohnson2497 That still might count for 2020, but since they already released a clip for that, they don't need to report this anymore... clever, EE, clever
As an argentinian, it's sad, and most of the time, depressing to live like this (and luckily I'm very stable, a lot of people lately have to take medication to fight depression). Taxes are horribly high and ever since I remember, politicians give 5-year old arguments over anything they do (like saying that printing money won't cause inflation)... and, incredibly, a lot of people buy these arguments and believe their bullsh*t... it feels like a living circus filled with corruption. But they cannot fool people internationally and thus we have less and less investors. Rich people get their legs cut of by taxes and extreme employment regulations, killing the middle class, further increasing unemployment rates and poverty. While the most vulnerable of citizens depend on money stimulus from the government which paired with these employment regulations (and declining investment in education) blocks them from beign inserted in the market. The currency market is regulated, we cannot even buy dolars or other currencies as we please to at least have a way to save money for our goals. I mean, I have what most would consider a well paid job. Buying a house is utterly impossible. Having a car is almost a luxury (so I don't have one). Even having a decent computer, which is my every day working tool, isn't very accesible. Every passing day my savings are worth less and it's tiresome to find alternative ways to try and save the money efficiently, so we just use it up on small things that won't accomplish our dreams. I have the means to leave the country... which most people my age always speak of wanting to do. Even my parents encourage me to leave this rotten place. But it ain't fun to leave everything you had behind because of someone else's fault. I just hope this will change in the coming years... or else I might seriously have to leave this place I still like to call home
Aye mate, as a fellow argentinian, I feel your pain. But dont feel too bad about leaving behind your home to go to a more stable place. Gotta keep moving forward you know? No use in looking back. But of course, you can also not leave if you dont want to, thats up to you. I wish you the best of luck.
I really don't understand why you are still here, when you could try to accomplish better things in another country, that's exactly what i am going to do, leave and probably never come back.
@@darklex5150 it's hard to leave for somd people, you're not only leaving behind your family and friends, but your culture, it's far more impactful for others than it may be for you, or maybe you haven't even realized how impactful it will be for you. adapting to somewhere foreign is hard to day the least.
As an argentine, I found this video very complete, exploring several different theories with very proper care. It's actually heartwarming to find someone who can keep a cool head while dealing with the topic of our economy; maybe because most creators tackling the topic are argentines, and we are very... hostile towards different lines of thought. So: It's really nice to hear such a respectful take on our country's issues. Thank you for your work, EE.
I've learned more about Argentina in this comments section than I have anywhere else! I hope the younger generation of Argentina is able to take positions of power and turn things around for the greater good of everyone.
Not really. There is a large pool of qualified workers for nearly every industry, it's just that the industries themselves are underdeveloped so a sizable amount of them can't find a job related to their field. I'm 23 years old and I have a bachelor's degree and speak three languages. I have the "luxury" of having a stable job with a decent income (for this country, at least), but I know I'm the exception not the rule. Also, who do you think supports the economy and financial aids? The working middle class.
As an American who's visited Argentina a couple times I really like the country and the people. The last time I was there I knew i didn't want to have a bunch of Argentinian currency, because it's hard to exchange back to dollars in the states. Our taxi driver that transferred us from one airport in Buenos Aires to the international airport got a great tip, because I just dumped what currency I had left on him. He probably got at least the equivalent of a $50-$100 tip. He was happy.
just to put it in perspective, if the last time you where here was in 2020, or even the end of 2019, by giving him one US dollar, you gave him 80 pesos, wich today, won't even buy you a can of soda, but in 2019 was probably enough to order some cheap fast food.
@@AchtungAffen I once heard the Spanish named the "Río de la plata" because after looting the gold of Peru, they somehow expected to found a lot of silver there due to fantastic rumours and blind greed, a fading illusion of wealth just as the modern thing
No sustainable economy was built on resource wealth alone. Resource wealth is a good start but it's how well the nation uses it and whether it manages to diversify that really matters.
@@herbfelman750 The river is named for its basin. If you navigate up the river "de la Plata", then the "Paraná" and "Paraguay" (passing by Paraguay's capital, Asunción) you arrive in Bolivia, with tons of silver.
Vos comprando una gpu y yo usando de pc gamer principal lo que varios videos describen como una pc economica secundaria para juegos livianos y un poco de emulacion
I'm Chilean. When I was a kid, back in the 90s, whilst we knew that Chile was growing after the end of the military dictatorship, we were still kinda poor and culturally backwards. Argentina, on the other hand, looked super exciting and fun to us! Buenos Aires was a huge destination for Chilean tourists, we listened to Argentinian music, people went to Mendoza to buy clothes and shoes from cool Argentinian shops, etc. But then the 2001 crisis came; we saw everything implode, and maaaan, all the glitz was gone. All while Chile kept on growing, Santiago became a much more interesting city, and we could see that our stability was paying off (well, at least until the unrest of late 2019 and the pandemic😅). I've been to Argentina a several times since then, everytime more depressing than the last. And in a ironic turn of events, at least up until the pandemic started, Argentines came in mass to Santiago and other cities to shop at malls, because stuff is cheaper for them - we don't have crazy inflation, and also signed lots of free trade deals with other nations - plus for all the international brands here, that aren't interested in going there. It's honestly a shame, although I don't longer believe that any country in South America, including mine, is safe from going on the same route.
As you said in your comment, i don't think any south america country is safe from going the same way, Chile became a really good country in south america, i'd say the best one to live in regarding issues as economy and stability, but i think there's a huge push from the left to ruin what has been done with so much effort, i'm not right leaning but most of the politicians in Chile had done a much better job than their southamerican's pairs.
Sorry, but Santiago does not compare to Buenos Aires. Pretending otherwise is living in fantasy land. I've travelled extensively in both countries and the sheer beauty, elegance and cultural excitement of Buenos Aires is different class from Santiago. It's like comparing Paris to Geneva. Switzerland might be richer but París is incomparable. Santiago is more modern, has better malls and is much more stable than Buenos Aires but it's a bit parochial, even though it has improved a lot in the past 25 years. Buenos Aires is a world class capital, its cultural scene is miles ahead of Santiago and people in Buenos Aires are much more exciting and attractive (physically and culturally) than people in Santiago.
@@lucasfootball637 i'd agree on that, but living in Buenos Aires means much more than that, dealing with crime and poverty, huge inequality and instability make a huge part of the experience, prices are the highest in the country and the quality of live compare with other major cities is poor, lack of services and infrastructure just to name a few, then finding a good job that allow you the earn around €500 per month is almost impossible, if you do find it it would make you part of the 10% who makes a decent living compare to the rest and if you compare that wage with the rest of the developed world is a misery. That's why i think Santiago is much better to living in, even if you don't have as much as a cultural scene like BsAs you still have much more chances to have a decent life. By the way I'm Argentina so I'm not a Chilean fan boy haha
Thank you for providing a comprehensive report on Argentina’s economy ! I often feel that mainstream media completely forgets about its existence. Cheers.
My father once said, "if we had let the British take over the country when they invade us in 1808, we probably be like Australia right now", he was a very anti-britsh btw. And maybe he was right
Hay cantidad de países colonizados por los británicos que hoy en día la pasan peor que nosotros. Desde países africanos hasta la India, no es tan simple. Es una posibilidad pero no hay ninguna garantía...
@@paulheinrichdietrich9518 Canada, Australia, New Zealand, South Africa, and Hong Kong have "nothing left" after the Brits took control of those places in the XIXth century, right?
So your father was an ignorant. Argentina was the 5th richest country a hundred years ago. You have chosen socialism during the last decades, then you get socialism consequences
During the late 80's inflation was so rampant that prices changed many times during the day. People looked for products buried at the bottom of the isle looking for stuff that had "older" (as in a couple hours older) prices. Quite the treasure hunt...
I refuse to believe that Argentina economy is as terrible as a country called Nigeria 🇳🇬. That country is very terrible infact it is a full blown failed nation
It shows the importance of having independent and self-funded institutions that keep politicians in check ... power corrupts and people are fallible, so there needs to checks and balances in any country/society.
Yeah, I think that's something that's very important not a lot of people don't seem to get. It's not a case of independent and self-funded institutions versus the government, they balance each other. If you let the government get too big, then growth suffers as corrupt politicians take power, but on the other hand, if private institutions gets too large and the government isn't big enough stop them, then they'll just Lobby the government to death until they basically take the place of the corrupt politician. Power corrupts, and that goes for more than just people in public office, but also those in private Institutions. if a delicate pendulum that causes an increasing amount of damage the more you over correctly either side
Yes, unelected and unaccountable institutional bureaucrats will solve everything. That’s the problem with the word ‘independent’ it’s a synonym for ‘unaccountable’. ‘Self-funded’? What is that supposed to mean? - They can steal with impunity? Taxation without representation, that might work. At least with democracy you get the government you deserve, just not the one you need.
I used to live in Argentina and was checking into a hotel there once. The owner looked at my UK passport and said "anglo-saxon huh. This is a good mix. A mix that works. Here in Argentina we are a mix of the Spanish and Italians. This mix does not work at all."
I'm peruvian and during a trip in Argentina, it was very interesting that all the tourism agencies including hotels would discount you a heavy amount of the price, sometimes up to 20%, just by using dollars directly
Leaving out ideologies, I think this video is an interesting analysis about how we ended up where we are. At the end of the day, it seems like we also have to take into consideration the "culture" of the politics in the past, so all that thing of the differences between Canada, Australia and Argentina foundations really caught my attention.
it is that it is impossible to put aside ideologies. Argentina had a Constitution and a liberal economy that was what led it to be among the largest countries in the world and then with the application of socialist measures, enlarging the state, brainwashing, led to a country with too much wealth (natural and human ) to have banana republiqueta indices
No, they aren't, our cities are shitholes but cute looking. You say so because you have ONLY seen in Buenos Aires the Microcentro, Palermo and Palermo Soho, Recoleta and Puerto Madero. You have only seen the nice and tourist part of the cities, but no so far from the Obelisc there is a giant and horrible Slum called Villa 31 next to recoleta, wich is one from the most famous one but it's not even the only one (there are a lot) or the worst. You also say that because you have never received a salary in Argentine Pesos nor have you been there long enough that, even as a tourist, you have been robbed or murdered in the street so that they rob you. www.infobae.com/sociedad/policiales/2020/12/08/asesinaron-a-un-turista-armenio-en-retiro-le-pegaron-un-balazo-en-el-cuello-para-robarle-la-bicicleta/ www.google.com/maps/dir/Villa+31,+Buenos+Aires/Obelisco,+Av.+9+de+Julio+s%2Fn,+C1043+CABA/@-34.5931469,-58.3790391,2844m/data=!3m1!1e3!4m13!4m12!1m5!1m1!1s0x95bccaa898aa2bd9:0x2556a4025a205689!2m2!1d-58.3783041!2d-34.584078!1m5!1m1!1s0x4aa9f0a6da5edb:0x11bead4e234e558b!2m2!1d-58.3815704!2d-34.6037389?hl=es-419 www.google.com/search?q=slums+in+buenos+aires&client=opera-gx&hs=dEN&sxsrf=ALeKk01c649InVCjXrva5M-GgtEz4LGZKA:1609425208784&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjkr_KOuPjtAhV3HbkGHQy9ABQQ_AUoAXoECBEQAw&biw=1495&bih=723
@@Nachoxt17 mis vecinos jajaj que se atiraban cuando ganaba el Boca re lindos recuerdos. El centro de Buenos Aires (especialmente el norte) es re contra bonito, pero el conurbano ay dios ni hablamos ...
Funny thing Argentina has had 4 currencies since 1970, and nowadays there is a parallel dollar market because the government only lets you buy 200 Dollars a month (About 30.000 Argentinian pesos)
Only lets some people get 200 USD a month, there are requirements, each day even more of them. Luckily you can legally buy USD though the market (buying and selling dual bonds) and though buying a cryptocurrincy in ARS and selling it in USD. I personally prefer staying in crypto...
@@lubu2960 Peso Ley 18.188 then Peso Argentino, then Austral, then Peso. Four currencies since 1970. Over all, if you want to "exchange" a peso ley to a dollar, you would need 1.66 billion pesos ley to buy a single 2020 dollar. Now, that's some serious inflation right there!!!!!!! ( this is some napkin math, but the idea is there.)
@@4.0.4 Oh yeah, and there were regional ones too, I remember the one on my state was linked to revenues from oil taxes. For those who aren't argentinian, they were government bonds (either national or state level) issued to anyone the government had to pay anything, together with a law that made them a parallel paper money (i.e. your grocery store had to accept these bonds as if they were actual money).
There is a stark difference between being partial to Nazis enough to serve as an escape route and getting scientists for their brains... The Soviets actually used the Nazi scientists more comprehensively than the US...
Says: "However we will now be doing that on our second channel, i bet most of you didn't know we had. Go and subscide to that one as well.." and doesn't tell what the name of the second channel is. Wanna quess why most of us don't know about your second channel?
Economist from Argentina here! Really spot on video! However, I want to make some really really little comments: 14:15 the Argentine Peso was pegged at a ARS/USD = 1.00 (one dollar for one argentinian peso instead of one dollar for three pesos) 5:05 most of the books and datasets that I know show that the second decade of the twentieth century was a high-growth decade mostly driven by US investments, therefore I would say that the stagnation started with the great depression. Nonetheless, it is a topic that is still debated among exonomists here in Argentina (we Argentinians like to discuss about everything). As I said, these are almost secondary things that do not change the gist of the video at all. Last but not least, it would have been interesting if you would have explained (as you usually explain economic phenomenoms in your amazing videos) stop-and-go cycles caused by the big influx of short term investments and by the pull out of these capitals (given to the lack of confindence in the peso) which end up causing a huge depreciation of the value of our currency and then reducing the purchasing power of Argentinians. I would say that most of the crisis that happened in my country were caused by stop-and-go cycles or balance of payments crisis.
I think he made an enfasis on after 2001, when dolar started raising again, where for a time it was around 3Ar$ = 1usd; but it would have been better to explain the 1=1 and then when it broke and the 166=1 of today
I am just reading Debt Crisis from ray dalio and he describes an archetype for cyclical economic crisis both inflationary and deflationary, and among the core reasons for an inflationary crisis you can find the ones you cover, it’s funny how well these phenomena are understood but the narrative down here in argentina is still a pissing contest between Peron and the rest of the parties or even rich and poor, it just that our government is corrupt and doesnt understand the first thing about economy
@@AnoNymous-2013 yes, you can't understand what happened in 2001 without understanding the 1=1, that happened in the 90s, but isn't interesting digging in the 90s, but in what happened after 2001 and how we went from 1=1 to 1=200
Don't the Argentines have that joke that goes something like: "When God made Argentina he gave it everything - beauty, resources, ports, abundant farming land. We saw how unfair that was to its neighbours, so to compensate he populated it with Argentines ..".
Thank you for your video!!!! As an argentinian, I believe your video is actually quite good and balanced!!!!!! Which is an extremely impressive thing for a non argentinian to make, since the economic problems of Argentina are so complex and politics is so polarized (which explains the pingpong of economic policies). Most people who post here can see only part of the problem, since they are heavily partisan. But they do not see that they are part of the problems of drastic economic reforms that has destroyed the country. We tried that sudden liberalization and finantialized economy (based on Carry Trade) with the 1976 dictatorship, Menem and Macri. It was a disaster. We tried a more State-oriented industrial-internal market economy with Alfonsin, and the Kirchners. It was also a disaster. We've been pingponging between different models since the IWW. As you accurately said, the problems started then, which destroyed the fragile latifundist economy based on wheat exports. Many partisan thinkers believe the problems started with Peron, which is actually false. Peron did industrialize the country and create lots of economic growth but, as you said, on an extremely fragile basis. The first moment this fragility started to create a currency crisis was in 1975, when just after Peron died and just before the last coup, in an extremely politically polarized country, in the middle of the international stagflationary oil crisis, there was a huge devaluation that started to erode confidence in the peso. This bimonetarism increases the volatility of the economy, since it makes the exchange value of the currency extremely volatile. Add to that the huge finantial bubbles based on Carry Trade that the liberal oriented models create and the stagflationary policies that the more interventionist models create, with an extreme political polarization that guarantees a constant back and forth between the two failed economic models, and you have that the instability has only grown in the last 50 years. You can imagine the level of distrust on politicians in this country (besides corruption), when we have tried every strategy on the book, orthodox policies, heterodox policies, we have tried everything, and everything has failed. Politicians promise unity but as soon as things get complicated, they blame the opposition. Which gets hope in the opposition that maybe argentinian economy will recover once they are in power. But to me, I'm starting to sense of despair and cynism, where people are starting to realize that every politician of every colour that we had had only made the economy worse and worse. What does a people do when you have tried dictatorship and revolution, liberal governments and interventionist governenments, charismatic strident leaders and grey soft-spoken leaders, you have followed to the T the IMF recommendations, and you tried to do things completely different, and absolutely anything that we've tried has been an absolute and complete failure? I sincerely am happy that the currency crisis seems to be near its final explosion. Having a dollarized economy is bad. But not as bad as having a bimonetary economy!!!! I crave for the stability our ecuatorian brothers have. But yeahh, living in argentina is kind of exciting. It is like living a constant adolescence without ever being able to settle down into the boring adulthood.
Do you think there is a solution for that? You are indeed right that the Argentine elite has tried both models (liberal & financial vs "socialist"&industrial) and it seems that no one of them has worked out.
It's refreshing to read a comment from another argentinian, which is not partisan. To save the economy, I'd propose we export our memes, since they are our better manufature, and definitively world class.
No creo que dolarizar arregle todos los problemas,vamos a dolarizar y por el déficit fiscal las provincias van a emitir cuasi monedas,los impuestos van a seguir altos y la estanflacion estará con nosotros otra década,este país no tiene solución
La primera vez en la historia de UA-cam donde se habla de política argentina y hay una seguidilla de comentarios racionales que no son partidarios ni agresivos. Lo acabo de disfrutar
did you know that the biggest economic faculty of the biggest university just teaches Keynes and Marx for economics? that's why Argentina is in the gutter, don't believe the lies, Argentina had a growing industrial sector before the 30's, the reason for it's meteoric growth was the constitution inspired in the one from north America and the "reasons for wealth of nations" from Adam smith, the reason for the political chaos is because Argentina is really two nations in one Country, they can't decide for one way because they have different foundational values.
Well then rest assured by an Argentinian that all those images were from my home. The good, the bad, and the plainly depressing. I miss those broken pavements and badly built apartaments so much. That black, fertile land. The fat cattle and the golden fields of grains. The cold south, the scorching north and the soft, rolling grassland amid. Those neat grid pattern cities with a nice tree every 5 metres where birds nest happily, and their songs in the morning. The overworked bus driver, the scrambling entrepreneur... My home I dearly miss.
@@adeptusvoxradio en muchos lugares no ponen arboles en las veredas, especialmente en USA, son gente ridicula donde no hacen eso, una ciudad sin arboles es una ciudad chota
It’s actually a really beautiful country! Our major problem is on economy, but we have beautiful people, awesome culture, amazing people and great food. As an Argentinian i visited America dozens of times and i really love your country and i hope i can move there once i finish HS here. Also, if you plan to visit Argentina again i recommend you visit the South of our country(Patagonia). It’s awesome, similar to Montana up there.
I ran into many Argentine fans in Doha these past few weeks, and let me tell you, most of them were actually broke. I was surprised that they made it all the way to Eastern Arabia in Western Asia. Turns out, that banks are handing out loans, for them to be able to attend World Cup matches in Qatar, through seven-year loans at 50% interest rates or 49.85% to be precise. Unbelievably insane, and quite suicidal. Apparently, those same banks made the same offers 4 years ago, during the 2018 FIFA World Cup in Russia.
@@KAPANGAAAMASTER Exactly. People seem to forget that slavery is how the U.S. its wealthy base. So not an honorable way to fund a new nation. And our bad policies and decisions have wreaked havoc on other country's economy. Especially since 1970's. I think inventions helped us come a long way. But mathematically, it's so expensive to live here now. It is very hard to have a savings account for most Americans. Rents have nearly doubled on average over the last 6 years.
I was studying in Argentina back in 2017. We learned a lot of this from our teachers there and they brought up the theories of how Argentina adopted spain's models instead of the UK's models, but also some talked about Juan Domingo Peron and how his policies actually made the power structures of argentina and creating its current economic climate as well as the main political movement known as peronism. I think he was a big factor in why argentina is the way it is today but this video brings up a lot of other good points in how Argentina declined. Edit: the only problem. I have is that the currency in the was pegged 1-1 to the US dollar not 3-1. I believe they attempted to change the exchange rate either right before the or after the 2001 economic crisis
Peron seemingly created a lot of growth and, more importantly, higher living standards. Though he was definitely problematic, there is a reason he has so many supporters.
@ALPHASTAR RU The claim that Argentina declined because of Peron is not backed up by evidence. 1.Peron only ruled for 11 years in total,Argentina had been declining since 1920 after the world war and specially after the Great Depression.In Argentina this period is called the Infamous Decade when a fascist government took over which ruled longer than Peron ever did(1930-1943). 2.Argentina under Peron’s first government saw economic and industrial production that far outpaced that of the previous decade.This had a lot to do with post war boom of course but claiming Argentina started to decline under Peron is dishonest because it did not it did better than it had in a while. 3.Peron was ousted violently in a coup in 1955 and anti Peronist would rule from 1955-1973 using authoritarian means to stay in power due to Peron’s overwhelming popularity.The reason he was popular of course was because wages under Peron doubled,industry doubled,and Argentina started to produce its own cars,planes and tractors.There was of course a massive downturn in agricultural production and a small recession in 1951,but most people did not care about that because the country simply imported foreign food using the new money made from industry. 4.Peron would return in 1973 and die in 1974,he would be succeeded by his wife and she would be ousted in 1976 by openly the anti Peronist armed forces.They would rule the country from 1976-1983.If anything the junta had a lot more to do with Argentina’s modern decline than Peron ever did.Under the Junta the country saw the worst recession since the 30’s,40,000 people were killed directly by the government,and the country entered an expensive war,foreign debt tripled,and wages stagnated.The return to democracy would see the continuation of the same economic policies and another bigger recession would occur in 1989.Later Menem would run as a “Peronist” but he would continue the same policies of the Junta,privatizing and cutting social services.And Argentina would almost burst into civil war because of it and enter the biggest recession in Argentine history,worst than the Great Depression.Then he was replaced by the Kischners who were a bit less neoliberal and more closely related to Peron’s original economic policy but not fully.But yet during their mandate is well the beggining of the video,booming gdp growth,higher wages,low inflation ,etc.At the end this was less the case but when Macri was elected who reversed these moderate economic policies the country went into the crisis it is right now.So I don’t know how a teacher of history can tell you to your face that Peron had anything to do with the crisis the country is in at the moment. 5.If one counts the number of leaders since 1955 openly anti Peronist governments have ruled for 34 years of the 65 years since Peron left in 1955.If one only includes the Kischners and Peron since most agree Menem was Peronist in name only that’s 27 years of Peronist ruling Argentina compared to 47 of anti Peronist,yeah sorry that’s bs what they say.
don't be deceived by the small country part, that mattered in the middle ages where agriculture moved the most money, nowadays there's more money in other places, just look at Taiwan, or south corea.
Over time I've gained a true sense of pride knowing the whole world takes Argentina as an example of what NOT to do. It's kind of a subtle vindication in front of all our sickening-abhorrent politicians and their braindead zealots.
@@gorantev yes but at least those countries have an excuse. I guess achieving independence through the collapse of a massive empire it's not easy, much more less trying to develop while remaining under strong russian influence. We instead did this to ourselves. We went from having it all (institutional conditions, highly-alphabetized educated society, properly competitive industry, huge migration waves, vast human and natural resources) - from needing just a little push to reach a reference place during murky times in the world, to systematically self-destruct without any war or catastrophic event involved.
We love your country, your people, your culture and we would visit in a heartbeat, but for your politicians... Everyone wants to love Argentina, you have style, and panache, a great cultural heritage, amazing food and a huge beautiful country. Can you do something with those politicos though?
"... Britain with an asymmetrical flag here" Lol. Don't be bitter because you didn't notice that the cross of St Patrick needs to be on the right half of the cross of St Andrew's arms
Starvation Fernandez: “If you invest in Argentina you will notice the great opportunity it is with minimal risk” 3 doritos later Starvation Fernandez: “Capitalism must be revised”
A huge thank you to Acorns for making this video possible. Go check them out, it helps the channel and hopefully makes saving and investing that little bit easier! Sign-up for Acorns now and they'll deposit $5 into your investment account to help you get started with investing! 👉 www.acorns.com/ee?s2=ARG1
Argentina pegged it's currency 1 to 1
Awesome video but the last part (present time) which I was expecting to watch to see your unbiased opinion was short and inaccurate. Thanks for the video! Please try to make a new one with the current crisis and future prospect ;)
In the 90's, the peso was 1 to 1.
Argentina looks like any European country
No, I won't. Your videos are just neoliberal propaganda.
Just an Argentinian seeing others Argentinos fighting in the comments, just like home...
Este comentario me representa ahora mismo JAJAJS.
Re si
gracias ranita
Mal xD no importa donde, tenes almenos 2 wachos en una discusión
@@joaquinrosales7393 Somos un bardo wacho JAJAJA
My grandfather once told me “Always remember, Argentina’s economy grows at night”. I asked why? He said “Its when our politicians sleep”
🔥👌🔥
Your grandpa had bars
Pretty sure he didn't say it
politicians don't sleep, they are like bloodsucking vampires, at night they pass the laws that can´t do during the day.
Nabucodonosor II
"Or even getting payed in dollars"
Average Argentinian: "you guys getting paid?"
truestory
this is such a blantant lie. People paid in dollars are never argentinians, they pay in dollars to wealthy foreigners that own our lands.
Si, en argentina tener un dolar es como tener oro, preferirias comer polenta un mes entero antes que gastarlo
paid*
Paid*
Argentina: I'm not in crisis, I'm the crisis
underrated comment
Para que te haces el importante
Argentina: Look at me. I'm the crisis now
@@Samsam-rf6fj que
@@Samsam-rf6fj mirá habló en ingles, se está haciendo el importante 😎
I´m from Argentina. I no longer read the newspapers, it's too depresing. I just read the headlines every morning just to make sure that the country hasn't exploded while I slept. And check the exchange rate every couple hours or so.
Lol. Same here. I need to be informed because of the same reason, but I checked them only when I have enough mental fortitud to do so.
I’d like to learn more about your Country, I’m about to start
@@emilebichelberger7590 People that have lived here for 60 years don't understand it, so don't get your hopes up.
@@emilebichelberger7590 you will never get bored bro!
Is there a way to pull a George Soros on the argentinian peso?
I'm from Argentina and when I was little I thought that the prices going up every year was a normal thing lol
I remember when a tortita would cost just 40 cents. :c
@@steampunkastronaut7081 i remember when we were able to buy 1 kilo of asado with 20 bucks
I remember when i was in hs i could have lunch for just 20$. It was 8 years ago, now it'd be around 200?
@Facu B. L. now it is...
I can remember when la coquita was dos pesos
Being a business owner of Argentina I just like to think that I am playing the game on very hard
Oof man, sorry. I too come from Latin America, and actually where I come from is MUCH worse than Argentina, so don't feel that bad at least your nation is livable. I did manage to get out of Latin America though, like that one meme lol
This guy is a savage. 🤣
@@DonCristian_DPB uf venezolano chamo?
Expropiese hahahha
@@j_niuton No, I'm from a country in Central America. Guess which?
*Me as a Venezuelan living in Argentina*
"I cant see the problem"
Que mala leche tienen hermano escapan de venezuela para venirse a un lugar que en cualquier momento se derrumba del todo
@@Ghost10RSN todo mal viste
@M e era obvio para nosotros, pero para ellos viéndolo de afuera y con la poca libertad de información que tienen no tanto
@M e olvidate, yo haría lo mismo, pero supongo que nuestra situación actual no es tan desesperada como la que los llevo a venir acá.
Me pregunto lo mismo yo, sumándole también lo similar de sus culturas. Es más fácil sentirse en casa allá que acá.
Ándate a estados unidos entonces vas a ver que hermoso es limpiar pisos en el país de las oportunidades,
"There are four kinds of countries in the world: developed countries, undeveloped countries, Japan and Argentina"
- Simon Kuznets
I literally started laughing at that one.
His quote should be five tho...developing is missing haha
@@flannel_punk that’s undeveloped
@@Tom-jw7ii yep I figured thanks!
Why japan tho
When I was younger, the happy meal cost arround $2/5 pesos now it cost arround $450/550. Imagine that inflation with the prices of all products
How old are you?
@@RainSunRain I suppose he is 35-45 years old, those prices are from something more than 25 years ago
I’m 31, back in the 90s when I was a kid the happy meal was 4.50 pesos.
Now it’s 500 pesos.
I usted to go to school and eat with 3 pesos, now is like 70, or it where if schools could still people that sell food in it.
@@IvanVentura-oc5yh dude i'm 26 and i tell you that those prices are like 10 years less than what you say, i remember that damm happy box at 2,50$
Argentina is the only country to have the “honor” to go from developed to developing
Oof
USSR won't agree with that
@@andriidiuh7826 USSR was developed only in terms of military though.
Some western euro countries will join the club eventually
south africa?
Fellow Argentinians, we must realize that maybe the real stability was the friends we made along the way...
Well Said
I only spent one semester studying abroad down there 10 years ago and while there I had some of the most real, inviting, and caring friends ever. Still friends on Facebook with many of them and even celebrated Thanksgiving with one just a few years back when he was visiting the US. Incredible people, deserving of much more faithful and capable governance.
YO WHAT UP
That is true for my mental stability tho. They are like my only source of happiness
**laughs through tears**
I love how all the comments are in english despite all of us being argentinians
It makes sense when you realized Argentina is the country with most english domain population in Latin-America, oddly enough, it's english is superior to that of Mexico despite being neighbors with an english speaking country.
Pero ni hablemos de pronunciacion porque no se entiende un carajo, nos defendemos en la escritura y hasta ahí, hablar es very difficult.
Yo no soy argentino
Personally i just do it so most people can read me and get mind fucked
si
@@Cloverfr realize* its*
Y tranqui, no soy de México, pero deberías tener más cuidado con las generalizaciones
Small correction: the currency peg in the 90's was 1 ARG = 1 U$S. It shot up to 3 to 1 when the system collapsed
Yes
What is the current blue peso rate it was 170 last I checked
p.s. Don't google pegging on your work computer. I was talking with a coworker about currencies pegged to the dollar and he made that mistake.
"el uno a uno" in the 90s was a total lie. It only worked from people inside Argentina, our money never was really a 1 to 1 conversion outside.
That's right it went 3 to 1 in the early 2000's after abandoning the fixed rate fortunately the next decade provided very high prices for commodities and the government was able to get the Dollars needed to ward off devaluation until a bit before the 2008 crisis and after that inflation at around 25% began to kill the exchange rate
"Dead state walking, one bump away from complete implosion." Yeah sounds about right.
I thought we already were there, but then again this country always amazes me with a new low.
Who needs to gamble on a casino, just open a business in Argentina.
Playing russian roulette with a loaded revolver would be less risky than investing in Argentina.
@@diannerenard playing russian roulette with a semi auto pistol is safer than investing here
Winning Odds are worse than a casino roulette
You'll always lose
@@DROGOC0P play russian roulette with a rpg is more safer than investing in argentina.
As an Argentinian i always enjoy and mostly suffer to see how the world sees us.
I love Maradona and riquelme, they made me fall in love with football
Salud desde Australia 👍
Not gonna state the negatives, since they're obvious, but just keep producing legendary footballers/soccer players. Looking forward to see which Argentinian becomes the next Maradona or Messi.
Lo peor es que no alcanza un video de 17 minutos para listar todo
I'm Italian and I lived in Buenos Aires for a while, it is hands down my favorite city on earth. I have also picked up the porteno speech
As a totally addictrd tanguera, I will always be grateful to BA and Montevideo.
You understand more of our own country than 90% of the people I know. I'm impressed.
Yeah you are stagnated in the Kirchner and Macri drama instead of looking for better pro-technology leaders. Btw, Nissmam was your biggest mistake, you didn't do anything we all knew something went wrong with that country when Mrs Kichenr remain free of charges but also, the vice president. Still waiting one day good leaders helps you out but seems impossible you have already that mentality of giving up.
Cuando la mitad de los niños son pobres y no tienen acceso a una buena educación, es más fácil engañarlos cuando se hacen mayores. Saludos desde España, vamos al mismo barranco y a paso firme con este nuevo gobierno social-comunista.
@@orgullosamenteperonista llego el kirtchnerista
si, somos unos pelotudos sin comprension lectora
@@sekinnnnn1121 yyyy te burlas porque la gente no puede tener su propia visión política?
As someone who lives in Argentina, nothing could be more accurate than "argentinian monopoly money".
Viva peron y aguante cristina
Aguante imprimir papelitos de colores vieja no me importa nada viva Perón!
@@alandan5396 al argento le gusta gastar mas de lo que produce
@@johnnytolengo742 Peronia's style
La cantidad de planeros que hay en este comentario
Sounds like Argentina needs to sign up for an Acorns account.
Argentina should've use SkillShare to learn how to grow their economy.
Don't forget NordVPN, gotta keep that account information protected.
And probably stop voting the same type of people in
And trends to know what to manufacture for maximum profit
I really doubt you can use Acorns in Argentina. Besides nowadays there are almost no decimal places in transactions.
Hey, at least on Argentina we get new memes about everything every day
The laughs are always there for you
Acá te podés morir saliendo a la calle cuando te pega un tiro un Brayan o cuando te pisa con el auto alguno que le chupa un huevo los semáforos o de hambre pero NUNCA por aburrimiento
@@alandan5396 Muy cierto
En estos momentos, solo se puede reir
@@alandan5396 "Acá te podés morir saliendo a la calle cuando te pega un tiro un Brayan o cuando te pisa con el auto alguno que le chupa un huevo los semáforos, o directamente de hambre hambre, pero NUNCA por aburrimiento"
-Alan Lamas
Por lo menos tenemos al comandante
In Argentina, it is more profitable to get a passport.
Not if you don't have a job in another country
@@Voldrim359 yeah if you have great grandparents from another country :)
This video is totally wrong
There is no such thing as economy in argentina
monopoly money
but there is something called ... socialism
@@ygbeats2999 me reí mucho con eso
La verdad que muy bueno
My boy, argentina is destined to death
As an argentinian I think that we as a society do not punish hard enough corruption. We are quick to forget those who robbed us. We are easily manipulated by ideology. No corrupt politician had a decent punishment in the last 30 years. And the Argentine culture often turns this into comedy rather than example. There is no public shaming of this ppl, and they are often concidered "cool" or "smart". So its a cultural matter. As long as Argentinians keep looking the other way, or even fighting over ideologies more than about political morals, this will continue.
estan dando tres dias de duelo por Menem, imaginate
Muy buen comentario. 100% cierto.
La viveza criolla, como quien dice.
Pienso lo mismo. Este comentario deberia estar entre los primeros.... Pero eso demuestra lo que estas diciendo, lamentablemente.
Same with Brazil
"To be a successful Argentinian, you have to move to another country."
Che bo so o te hace
True
Político o gremialista también, son millonarios
Yeah!
Le busco la alternativa todos los días, pero cada vez confirmo mejor que es necesario irse.
Argentina is one of those few countries that know the exactly how much is a dollar, even if it changes everyday. And not only that, we know that blue dollar, the official dollar, the one with taxes, etc. You go to the streets and ask an Argentinian how much is a dollar and they can tell you from the top of their heads.
We Argentines joke among ourselves that to succeed, you either become a politician, or escape to the Ezeiza international airport.
Ezeiza is a honorable choice, that's the only difference.
And we know, it´s not a joke.
Never had a conversation like that with a fellow argentinian, idk what are talking about
@@bropil7545 Es un chiste hermano
Yeah... We "joke" about that..
Greetings to our lost cousins in South America from Greece.
We can feel you more than anyone else.
So true
Greece: the Argentina of the EU.
Ukraine also wants to join
Thank youuuu
efcharisto poli filo! indeed, I've been living in Athens and the similarities are frightening. But also Greeks are as easy going and cool as Argentines. I felt like home
Argentinians are so handsome
Greetings from Argentina
X D
X D
X D
X D
equis de
amigo me encanta cuando los argentinos siempre llegan a videos ingleses a comentar lo mal que estamos xd
Es un pedido de auxilio XD
@@froquel6484 un S.O.S en todo aspecto
Estamos probando suerte a ver si hay algún sugar daddy inglés que nos quiera pagar el viaje a Canadá
Get me out of Argentina
Capo capooo
Can't wait for Argentina's official currency to be Bitcoin.
It could be if they could tax it to oblivion. For the time being I prefer it to be an alternative to be able to have savings.
We are heading that way, with the latest price increase, all GPU prices tripled, most young folk are investing heavily into crypto.
I'm from a smaller city on an argentinian province, and even I have a store 3 blocks away that changes pesos into crypto.
Can't wait for people in Argentina to flood the MMO currency farming market.
The day we adopt BTC it'll suddenly become inflationary xD
If bitcoin became the official currency it would devalue
That's my secret Tony, I'm always in crisis
It definitely makes sense to upload this on the last day of the year as understanding Argentina´s economy is the final boss of economics!!
Hi and Hello.
I gather people for a good cause:
I wanna provide people with Links leading to bad or toxic people.
Mobber, Racists, Sexists, Bullies, more. I got the Links and i
need help with reporting them.
UA-cam is in a bad state and i think you heard of that.
Many complain about it, its strike-system and its CEO: Susan...
But... I mean... complaining about the State of the world is nice
and dandy, but... how about acting? Doing something?
So i made a Wiki where i store Links for all to use.
You can at least pre-emptive 'block user' regarding the
Racists and all those, but you can also
do one thing more and report them, so
YT becomes a better place.
I know this was random and also overly summarized, but
think about it and consider. You can make a difference.
Means: I gathered and confirmed many Links. And made a Wiki to
provide the Public with them. Wanna help, too?
Descrito en una frase:
"Impulsan proyectos para arreglar problemas, que generan más problemas de lo que arreglan, lanzan otro proyecto para arreglarlos, generan más, y así"
Por ejemplo: ¿como impedir la perdida de puestos de trabajo durante la pandemia?, prohibiéndole a las empresas despedir gente
Resultado: Contratan menos gente, por miedo a no poder despedirlos si no hacen bien su labor, también causando que varias empresas se vayan a la quiebra, al no permitirles reducir su gasto pese a que cada vez generan menos
Sip
Todo esto se soluciona fácilmente: con una plataforma en Córdoba, para que las naves salgan de la atmósfera, se remonten a la estratosfera y de ahí elijan el lugar a donde ir, de tal forma que en hora y media podamos estar en Japón, Corea o en cualquier parte del mundo.
@@InakiArzalluz xD
@@InakiArzalluz Ah, con esta sencilla solución por fin podre viajar al kiosco de la esquina para comprar yerba. Gracias Argentina
O Brasil é igual...
I'm from Argentina. It was pretty interesting to listen to your opinion. I agree pretty much with everything you said and I loved the explanation of the Argentine historial background. I just would like to clarify something about the bound between the american dollar and the Argentine peso. Our wages are in Argentine pesos and nowdays, we can't buy more than 200 dollars. Dollars are also our saving currency.
Yeah, and if you are subscribed Netflix or some streaming platforms you get that money discounted from the original 200 dollars that you are allowed to buy.
Dont worry pibes, we'll get through it and get better... Someday
While this is mostly true, it is also worth noting that the higher paid the job, the more chances you get paid in dollars. For example, if your employer gets paid in dollars.
@@JoseDelgado-ri8dq the key is not voting for peronismo
I don’t feel sorry for u. Your salary is what u produce. . Your economy is not competitive and the dollars you got by IMF loans were spent in travels overseas by your middle class .
In criollo : los argies quieren cagar mas alto que el culo
Basically economics is: Do the exact opposite of what Argentina has been doing since the 1930s.
It's incredible how it keeps being one of the richest countries of latin america, even thought it has tried to destroy itself as much times as Spain has.
PS: I think the data of spanish vs british colonies should be more explained. What is a british colony, Israel counts? You weighted it by population? Did you include half of Italy?
I think he meant places where major British settlers came to in the 18th century
I was thinking the same thing. Like one keeps hearing how bad of a state the country is in but then it still has one of the highest economies in Latin America. I wish he explained this more in his video. Is it all truly doom and gloom? How is the life of everyday people? Also, by British colony, he means countries that were mostly settled by anglo Saxons (US, Australia) and/or have strong English traditions such as government and cultural links (language, sports) such as Indian and South Africa.
@@dennis771 And in the 19th century, especially with Australia, New Zealand and South Africa (and those parts of Canada not settled in the late 18th century by Loyalists from the US). Not to mention that in absolute numbers, the US got the most British immigrants in the 19th century. And yes, British colony means where it was not only ruled by Britain but also received major British settlement, especially in the mid-latitude areas (not tropical areas like the West Indies, Africa or India). And no, Jorge Gomez, Israel doesn't count because Palestine (including Transjordan) was only a post-WWI British mandate, just like Mesopotamia/Iraq.
Los españoles nos dejaron cosas maravillosas como el idioma y la urbanización en damero.
Y cosas medievales como el catolicismo.
Somos latinos porque descendemos de los romanos. Esos fueron bien pulenta y decayeron hasta lo que somos hoy en día.
Todo por ese logi que se pasó al Pope's Team.
@@EdubertoPalitroke Irlanda también es Católica y es de los países más ricos de Europa, tiene una riqueza de practicamente el triple que España para que te des una idea.
Yo soy de Perú, y pienso que la cultura católica es bastante buena, al menos en mi vecindario es una cultura de libertad, yo podía hacer preguntas muy incicivas al sacerdotes, sobre por ejemplo, los casos de abuso sexual, corrupción en la Iglesia, La Forma en como evangelizaron a los nativos americanos, etc. Y te dejan preguntar sin miedo, y no te gan respuestas fanáticas, la mayor parte de veces, simplemente pedían perdon, aunque eso me molestaba, no tiene ningún sentido que un católico del siglo XXI pida perdon por lo que hicieron los catóiicos en el siglo 16, es enfermizo, es como ver a Alemanes disculpandose por lo que hicieron los nazis, NOO, yo creo que la culpa es individual. En Cambio he encontrado sectas, dónde si esta prohibido preguntar demasiado, esta prohibido escuchar música popular, esta prohibido usar ropa moderna, una locura, eso si es una secta y eso si es peligroso culturalmente.
to describe the full spectrum of argentina's economy cycle you will need an entire netflix season, maybe 2
You know... after living all my life in this beattiful country, i've only have 1 thing to say:
Saquenme de argentina, soy bueno lavando platos y pisos.
Ni te cuento inodoros.
Thumbnail: "The world's most unstable economy"
Venezuela: " Am I a joke to you?"
And Brazil?
@@gustavogoncalves3900 Brazil is unstable, but I'd say Venezuela>>>Argentina>Brazil
Argentina has an economy like a yoyo. Venezuela has no economy.
Venezuela's economy: Sell Cocaine and give all their Gold, Oil and Gas to China, Russia and Cuba.
Venezuela is stable. It's been at rock bottom for a decade.
"Don't cry for me Argentina, inflation never left you"
It actually did, during a very short period , over the 90's
Pitiful
llorando en pesos
Based profile picture
Inflation for Argentina is like a loyal gf. Argentina put a ring on it dude!!!
Actually, in the 90's, the exchange rate with the dollar was 1 to 1. It was done so after the hyperinflations of 89 and 90, where the Austral got to 10.000 to 1. In 2002, the convertibility law was abolished and then it became 3 to 1. And it stayed between 3 and 4 until 2013 aprox. Since then, it didn't stop falling. Today is 166 to 1.
I should head down with a wad of cash
Is that blue peso or regular exchange rate
@@luisvilla799 It's 84/1 official today. So he must be referring to blue rate. Official was about 8/1 when I went and I got 15 on the black market. It's illegal and a little dicey. I had a couple of close calls. Gotta feel it out and don't go into any remote enclosed spaces and give the bills a good look for counterfeits. I found a guy who let me do that and take my time. You'll get more for $100s than $20. My first try on Florida in BA (where most of it is done), I went into a room and then the guy wanted to change to a lower exchange and a couple of guys closed in at the door. I just booked. I figured if I had to fight I would. They let me pass. But it was scary. They know you have a ton of cash on you. They can't do it blatantly out in the open, but don't go anywhere enclosed and too far from traffic. It's probably winked at, but it's still a crime, and you're dealing with dodgy people. My parents had just gone before I went, and they did everything legit, but I took $3000 US with me and spent 3 months there with that. Covered everything but the flight. I would have felt like an idiot had I paid regular rates. But I had a ton of pesos on me all the time. It was a lot of fun. Go to the Patagonian Andes, and dont miss El Chatán (if you hike) and Iguazú
@@nicholasschroeder3678 there is a "cepo" or lock in who and how many usd an Argentinian can get in a bank since last elections. The only usd we can get is the "blue" nowadays, so official is a lie (only used in favor of the goverment to get more usd to them).
Also, where you were was a trap for tourist, its kinda legal what they did, and they just scammed you. With the right contacts is easy to get usd in the right blue price (usually checking the price in ambito.com while the transaction is being made). It is not a crime to exchange currency, at least here. The problem is if they "mark on you" and then send some "amigos" to "ask gentilmente" for your money, far from where you exchanged.
@@luisvilla799 Blue, official rate is like a pink unicorn. It doesn't exist. It's just a number in the head of our politicians. And is close to 90.
**laugh in argentino**
Saquenme de este país por favor.
A la primer oportunidad que tenga me largo de aca chabon, Canada ahi te voy
@@sisoylauti de una
@@sisoylauti JAJAJS same, todos con el ojo en Canadá
@@sisoylauti vos salis de ezeiza y te apunas , no duras ni un mes de invierno canadiense
No es tan fácil, siempre vas a ser el extranjero en tierra extraña.
Oh man, such a big shame. I really love Argentina, and I'd be glad and really like to live some years there, it's an amazing and beautiful country with super fun and nice people. But I can't picture myself living in a country that today is Central Europe and tomorrow is Venezuela, and the day after tomorrow could be Portugal or could be Haiti. I really don't understand why is it so hard for Argentina to have an stable and strong economy, but this video helped me a lot to have somewhere to start. Thank you!
Because we live at war, people prefer to ignore it but it's the truth. There are 2 Argentinas, separated by values and separated by race.
You can notice that if you go to Buenos Aires city, and then travel to Salta or Formosa.
You'll notice those changes in a matter of minutes.
The north invaded the south, with its people, without guns.
@@jackdanila9893 no....nada que ver.....es por que tenemos sangre italiana y española dos paises corruptos y con economias mediocres ,argentina es el resultado de zurdos europeos,a los peruanos les va mejor y son mestizos a los chilenos les va mejor y tmb son mestizos
@@ojberrettaberretta5314 los chilenos no son tan mestizos, son parecidos a nosotros.
Además de que si bien la mayoría de europeos eran de españa e Italia, también vinieron importantes números de alemanes, rusos, franceses, ucranianos, polacos, irlandeses, y te lo digo porque en mi ciudad es mayoría europea, y nos va de maravilla. Es de los municipios más ricos de Buenos Aires.
Y hoy en día los blancos europeos son una minoria en argentina, se aproxima que un 65 porciento es mestizo, y un 30 o 25% blanco, por esa razón es que ya estamos iguales que en el resto de Hispanoamérica.
Cuando los blancos eran el 85% en 1930, éramos una potencia mundial. Cuando Perón empezó a importar indios y mestizos, y se perdió la conciencia racial, nos hicimos pobres y miserables. Antes se festejaba porque éramos el mayor exportador de granos o inventabamos el primer helicóptero funcional.
Hoy en día festejamos por una canilla de agua en el Congo urbano. Hablame de miseria
@@ojberrettaberretta5314 también podés ver el caso de Brasil. En el sur con todos los eurodescendientes, son los más ricos de todo el país.
@@jackdanila9893 Wow. Que racista
Argentinians know the peso exchange rate to the us dollar more than what was the score of the last boca river football match
Lol I wish, I know far too many people INSIDE THE COUNTRY who believe in the official exchange rate.
lol that’s truth
Hahahaha "the Jobs are pay in dollars" hahhahahahhah Yea rigth... Tellme where please... You can't Buy more then 200 dolars becouse is ilegal...
I tink that people who work in the IT sector for internatinal companies get his salary in USD. Anyway how many peole works in that sector? The rest of 98% of the workers get payed in Pesos that have les backing than Monopoly bills
@@juanckg2666 I'm electrónic engenier student, and all the Jobs is in pesos. The only way is be programmer to the outside... But You can't bring in dolars... The "oficial" value is like 87 pesos... But the real is 147. And, like the at least 30% taxes ...
@@TheArkanhell1 Si si, no trabajo en IT pero he leído en algunos foros que muchos programadores que cobran en dólares los ingresan a su cuenta bancaria con Payoneer o criptomonedas. Pero solo es la gente que trabaja para empresas internacionales que puede hacer eso, el resto se tiene que conformar con papelitos de colores.
@@juanckg2666 yo trabajo en it, y aun asi no te dejan ingresar dolares. si o si el equivalente en pesos "oficial". esperemos algun dia sea tentador quedarse en el pais y no emigrar para poder ganar dinero real.
Jajajajajaja imaginate cobrar en dólares, hermoso
Who needs an economy, when you have GLORIOUS ALFAJOR DE MAIZENA
underrated
Based.
Que rico
“The argentine peso”.... proceeds to show Mexican currency
Another clip for the 2021 mistakes video
@@gordonjohnson2497 That still might count for 2020, but since they already released a clip for that, they don't need to report this anymore... clever, EE, clever
Plus, the peg was one to one, not three to one.
the other image was quite unstable
Well, there was a moment when they were worth the same...
As an argentinian, it's sad, and most of the time, depressing to live like this (and luckily I'm very stable, a lot of people lately have to take medication to fight depression). Taxes are horribly high and ever since I remember, politicians give 5-year old arguments over anything they do (like saying that printing money won't cause inflation)... and, incredibly, a lot of people buy these arguments and believe their bullsh*t... it feels like a living circus filled with corruption.
But they cannot fool people internationally and thus we have less and less investors.
Rich people get their legs cut of by taxes and extreme employment regulations, killing the middle class, further increasing unemployment rates and poverty. While the most vulnerable of citizens depend on money stimulus from the government which paired with these employment regulations (and declining investment in education) blocks them from beign inserted in the market.
The currency market is regulated, we cannot even buy dolars or other currencies as we please to at least have a way to save money for our goals.
I mean, I have what most would consider a well paid job. Buying a house is utterly impossible. Having a car is almost a luxury (so I don't have one). Even having a decent computer, which is my every day working tool, isn't very accesible. Every passing day my savings are worth less and it's tiresome to find alternative ways to try and save the money efficiently, so we just use it up on small things that won't accomplish our dreams.
I have the means to leave the country... which most people my age always speak of wanting to do. Even my parents encourage me to leave this rotten place. But it ain't fun to leave everything you had behind because of someone else's fault. I just hope this will change in the coming years... or else I might seriously have to leave this place I still like to call home
Aye mate, as a fellow argentinian, I feel your pain. But dont feel too bad about leaving behind your home to go to a more stable place. Gotta keep moving forward you know? No use in looking back. But of course, you can also not leave if you dont want to, thats up to you. I wish you the best of luck.
I really don't understand why you are still here, when you could try to accomplish better things in another country, that's exactly what i am going to do, leave and probably never come back.
It won't change
Sounds like baby steps to socialism
@@darklex5150 it's hard to leave for somd people, you're not only leaving behind your family and friends, but your culture, it's far more impactful for others than it may be for you, or maybe you haven't even realized how impactful it will be for you. adapting to somewhere foreign is hard to day the least.
As an argentine, I found this video very complete, exploring several different theories with very proper care. It's actually heartwarming to find someone who can keep a cool head while dealing with the topic of our economy; maybe because most creators tackling the topic are argentines, and we are very... hostile towards different lines of thought. So: It's really nice to hear such a respectful take on our country's issues. Thank you for your work, EE.
I've learned more about Argentina in this comments section than I have anywhere else! I hope the younger generation of Argentina is able to take positions of power and turn things around for the greater good of everyone.
They will make it way worse.
Lot of pain is required to set it right. Difficult to sell the idea
"A healthy population with productive workers" Uhm yeah, about that... Uhm... That information might be outdated.
From 20 years ago... But from there is where it started
No,we are
@Aston Adermas IV Middle class taxes (?
You will find that statement to be true wherever you are. It's just who sits above the workers that decide if that's how it'll go or not.
Not really. There is a large pool of qualified workers for nearly every industry, it's just that the industries themselves are underdeveloped so a sizable amount of them can't find a job related to their field. I'm 23 years old and I have a bachelor's degree and speak three languages. I have the "luxury" of having a stable job with a decent income (for this country, at least), but I know I'm the exception not the rule. Also, who do you think supports the economy and financial aids? The working middle class.
As an American who's visited Argentina a couple times I really like the country and the people.
The last time I was there I knew i didn't want to have a bunch of Argentinian currency, because it's hard to exchange back to dollars in the states. Our taxi driver that transferred us from one airport in Buenos Aires to the international airport got a great tip, because I just dumped what currency I had left on him. He probably got at least the equivalent of a $50-$100 tip. He was happy.
just to put it in perspective, if the last time you where here was in 2020, or even the end of 2019, by giving him one US dollar, you gave him 80 pesos, wich today, won't even buy you a can of soda, but in 2019 was probably enough to order some cheap fast food.
@@juanfranciscomartinezfuent9611 I think he meant $50 to $100 USD.
50/100 dollars Is very much, Trust me
That taxi driver is now the President of Argentina.
La próxima avisame, por 20 lucas te llevo yo escuchando Fabián Show a todo volumen
“Argentina comes from the word Argentum, which was Latin for Silver (Ag) So “Argentina” means “The Land Made of Silver” So much potential wasted
Yet the silver came from Potosí and was put on ships in the Buenos Aires harbor. There wasn't much silver in Argentina back then.
@@AchtungAffen I once heard the Spanish named the "Río de la plata" because after looting the gold of Peru, they somehow expected to found a lot of silver there due to fantastic rumours and blind greed, a fading illusion of wealth just as the modern thing
No sustainable economy was built on resource wealth alone. Resource wealth is a good start but it's how well the nation uses it and whether it manages to diversify that really matters.
@@herbfelman750 The river is named for its basin. If you navigate up the river "de la Plata", then the "Paraná" and "Paraguay" (passing by Paraguay's capital, Asunción) you arrive in Bolivia, with tons of silver.
Ironic because argentina had almost no silver. Largest silver reserves are in mexico and peru.
As an Argentine, I honestly don't know if next month I'm going to buy a new gpu or if I'm going to starve to death. No jokes. Everything is possible.
Vos comprando una gpu y yo usando de pc gamer principal lo que varios videos describen como una pc economica secundaria para juegos livianos y un poco de emulacion
@@EloBizon jajaja pobre tipo, ahora no se debe de poder comprar ni una 710
May your frame rate be high and your belly full.
@@somethinglikethat2176 60 frames por día FULL HambreDesesperanza
Here before the video became publicly available, found it through the countries playlist😎
🤯🔫
He has evaded our systems!
You serious EE?!
I feel like I've seen this video weeks ago, is that why? Or had I just seen another similar video?
I'm Chilean. When I was a kid, back in the 90s, whilst we knew that Chile was growing after the end of the military dictatorship, we were still kinda poor and culturally backwards. Argentina, on the other hand, looked super exciting and fun to us! Buenos Aires was a huge destination for Chilean tourists, we listened to Argentinian music, people went to Mendoza to buy clothes and shoes from cool Argentinian shops, etc.
But then the 2001 crisis came; we saw everything implode, and maaaan, all the glitz was gone. All while Chile kept on growing, Santiago became a much more interesting city, and we could see that our stability was paying off (well, at least until the unrest of late 2019 and the pandemic😅). I've been to Argentina a several times since then, everytime more depressing than the last.
And in a ironic turn of events, at least up until the pandemic started, Argentines came in mass to Santiago and other cities to shop at malls, because stuff is cheaper for them - we don't have crazy inflation, and also signed lots of free trade deals with other nations - plus for all the international brands here, that aren't interested in going there.
It's honestly a shame, although I don't longer believe that any country in South America, including mine, is safe from going on the same route.
the wonders of free market!
sadly, "apruebo" won
Panama is a hope for Hispanic countries. And Maybe Uruguay, Peru or Colombia
As you said in your comment, i don't think any south america country is safe from going the same way, Chile became a really good country in south america, i'd say the best one to live in regarding issues as economy and stability, but i think there's a huge push from the left to ruin what has been done with so much effort, i'm not right leaning but most of the politicians in Chile had done a much better job than their southamerican's pairs.
Sorry, but Santiago does not compare to Buenos Aires. Pretending otherwise is living in fantasy land. I've travelled extensively in both countries and the sheer beauty, elegance and cultural excitement of Buenos Aires is different class from Santiago. It's like comparing Paris to Geneva. Switzerland might be richer but París is incomparable. Santiago is more modern, has better malls and is much more stable than Buenos Aires but it's a bit parochial, even though it has improved a lot in the past 25 years. Buenos Aires is a world class capital, its cultural scene is miles ahead of Santiago and people in Buenos Aires are much more exciting and attractive (physically and culturally) than people in Santiago.
@@lucasfootball637 i'd agree on that, but living in Buenos Aires means much more than that, dealing with crime and poverty, huge inequality and instability make a huge part of the experience, prices are the highest in the country and the quality of live compare with other major cities is poor, lack of services and infrastructure just to name a few, then finding a good job that allow you the earn around €500 per month is almost impossible, if you do find it it would make you part of the 10% who makes a decent living compare to the rest and if you compare that wage with the rest of the developed world is a misery. That's why i think Santiago is much better to living in, even if you don't have as much as a cultural scene like BsAs you still have much more chances to have a decent life. By the way I'm Argentina so I'm not a Chilean fan boy haha
"Argentina un lugar"
Hasta ahí nomás jajajaja
Corrupcion: El pais
Thank you for providing a comprehensive report on Argentina’s economy ! I often feel that mainstream media completely forgets about its existence. Cheers.
My father once said, "if we had let the British take over the country when they invade us in 1808, we probably be like Australia right now", he was a very anti-britsh btw. And maybe he was right
If the Brits had taken control of the country in the XIX Century there would be nothing left in Argentina now except perhaps sheep and a few cows.
Hay cantidad de países colonizados por los británicos que hoy en día la pasan peor que nosotros. Desde países africanos hasta la India, no es tan simple. Es una posibilidad pero no hay ninguna garantía...
If they had invaded probably a lot of Argentinian's population would be gone. Remember it was a country made of immigrants.
@@paulheinrichdietrich9518 Canada, Australia, New Zealand, South Africa, and Hong Kong have "nothing left" after the Brits took control of those places in the XIXth century, right?
So your father was an ignorant. Argentina was the 5th richest country a hundred years ago. You have chosen socialism during the last decades, then you get socialism consequences
Buckle up boys. We're about to talk about some *MEGAINFLATION*
Still better than Hyperinflation.
@@EconomicsExplained Yeah.
🇻🇪
During the late 80's inflation was so rampant that prices changed many times during the day. People looked for products buried at the bottom of the isle looking for stuff that had "older" (as in a couple hours older) prices. Quite the treasure hunt...
I refuse to believe that Argentina economy is as terrible as a country called Nigeria 🇳🇬. That country is very terrible infact it is a full blown failed nation
It shows the importance of having independent and self-funded institutions that keep politicians in check ... power corrupts and people are fallible, so there needs to checks and balances in any country/society.
Yeah, I think that's something that's very important not a lot of people don't seem to get.
It's not a case of independent and self-funded institutions versus the government, they balance each other. If you let the government get too big, then growth suffers as corrupt politicians take power, but on the other hand, if private institutions gets too large and the government isn't big enough stop them, then they'll just Lobby the government to death until they basically take the place of the corrupt politician.
Power corrupts, and that goes for more than just people in public office, but also those in private Institutions. if a delicate pendulum that causes an increasing amount of damage the more you over correctly either side
Welcome to the Biden puppet
No, Patrick, "the honor system" is not a check or balance.
"Because we're America" is not a check or balance, either...
Yes, unelected and unaccountable institutional bureaucrats will solve everything.
That’s the problem with the word ‘independent’ it’s a synonym for ‘unaccountable’.
‘Self-funded’? What is that supposed to mean? - They can steal with impunity?
Taxation without representation, that might work.
At least with democracy you get the government you deserve, just not the one you need.
s4098429 what it means is institutions that have a seperate power to check the govt and be checked in turn i.e. An independent and honest judiciary.
I used to live in Argentina and was checking into a hotel there once. The owner looked at my UK passport and said "anglo-saxon huh. This is a good mix. A mix that works. Here in Argentina we are a mix of the Spanish and Italians. This mix does not work at all."
I'm argentinian and every time I go the supermarket I find out that something is slightly more expensive. Monopoly money check ✅✅
Dont worry, there are always even worse countrys, I salute you from Croatia.
This is it, he finally did Argentina.
the above dude isn’t verified don’t listen to them
@@wilyriley_ ?
it feels like he didn't say much tbh
@@wilyriley_ it isnt verified because a channel needs 100k subs to be verified, and it only has 14 k
as an argentine i can assure you this vid is almost completely perfect,keep up the good work!
Shame on the mistakes. Like the mexican bill and the 3 to 1 exchange rate.
I'm peruvian and during a trip in Argentina, it was very interesting that all the tourism agencies including hotels would discount you a heavy amount of the price, sometimes up to 20%, just by using dollars directly
we need more coca Leaves
This is one of the best economic videos out there. I've been a fan for a long time but the editing, smooth explanation and information are top notch!
@Economist Explained This is the only notification I got so I really thought to myself: "Why is Economics Explained asking me to text him?" Oops!
Leaving out ideologies, I think this video is an interesting analysis about how we ended up where we are. At the end of the day, it seems like we also have to take into consideration the "culture" of the politics in the past, so all that thing of the differences between Canada, Australia and Argentina foundations really caught my attention.
it is that it is impossible to put aside ideologies. Argentina had a Constitution and a liberal economy that was what led it to be among the largest countries in the world and then with the application of socialist measures, enlarging the state, brainwashing, led to a country with too much wealth (natural and human ) to have banana republiqueta indices
@@Rick-dt9mv It wasn't because the rich didn't care to pay their fair share?
Argentina has two things for certain: amazingly beautiful cities and a terrible economy.
Cities? The landscapes and people are amazing. But the cities?
No, they aren't, our cities are shitholes but cute looking. You say so because you have ONLY seen in Buenos Aires the Microcentro, Palermo and Palermo Soho, Recoleta and Puerto Madero. You have only seen the nice and tourist part of the cities, but no so far from the Obelisc there is a giant and horrible Slum called Villa 31 next to recoleta, wich is one from the most famous one
but it's not even the only one (there are a lot) or the worst. You also say that because you have never received a salary in Argentine Pesos nor have you been there long enough that, even as a tourist, you have been robbed or murdered in the street so that they rob you.
www.infobae.com/sociedad/policiales/2020/12/08/asesinaron-a-un-turista-armenio-en-retiro-le-pegaron-un-balazo-en-el-cuello-para-robarle-la-bicicleta/
www.google.com/maps/dir/Villa+31,+Buenos+Aires/Obelisco,+Av.+9+de+Julio+s%2Fn,+C1043+CABA/@-34.5931469,-58.3790391,2844m/data=!3m1!1e3!4m13!4m12!1m5!1m1!1s0x95bccaa898aa2bd9:0x2556a4025a205689!2m2!1d-58.3783041!2d-34.584078!1m5!1m1!1s0x4aa9f0a6da5edb:0x11bead4e234e558b!2m2!1d-58.3815704!2d-34.6037389?hl=es-419
www.google.com/search?q=slums+in+buenos+aires&client=opera-gx&hs=dEN&sxsrf=ALeKk01c649InVCjXrva5M-GgtEz4LGZKA:1609425208784&source=lnms&tbm=isch&sa=X&ved=2ahUKEwjkr_KOuPjtAhV3HbkGHQy9ABQQ_AUoAXoECBEQAw&biw=1495&bih=723
@@Nachoxt17 being a tourist can blind you to the real culture of a place.
@@Nachoxt17 mis vecinos jajaj que se atiraban cuando ganaba el Boca re lindos recuerdos.
El centro de Buenos Aires (especialmente el norte) es re contra bonito, pero el conurbano ay dios ni hablamos ...
Great steaks 🥩
every minute that passes in argentina the dolar goes up 1 peso
Right on my poverty
Funny thing Argentina has had 4 currencies since 1970, and nowadays there is a parallel dollar market because the government only lets you buy 200 Dollars a month (About 30.000 Argentinian pesos)
Only lets some people get 200 USD a month, there are requirements, each day even more of them.
Luckily you can legally buy USD though the market (buying and selling dual bonds) and though buying a cryptocurrincy in ARS and selling it in USD. I personally prefer staying in crypto...
what 4? i only know the austral and the peso, just because they pegged the peso to the dollar doesn't make it another currency
@@lubu2960 Peso Ley 18.188 then Peso Argentino, then Austral, then Peso. Four currencies since 1970.
Over all, if you want to "exchange" a peso ley to a dollar, you would need 1.66 billion pesos ley to buy a single 2020 dollar. Now, that's some serious inflation right there!!!!!!! ( this is some napkin math, but the idea is there.)
Not only 4, I still remember Patacones.
@@4.0.4 Oh yeah, and there were regional ones too, I remember the one on my state was linked to revenues from oil taxes.
For those who aren't argentinian, they were government bonds (either national or state level) issued to anyone the government had to pay anything, together with a law that made them a parallel paper money (i.e. your grocery store had to accept these bonds as if they were actual money).
Argentina welcoming nazis
*Everybody disliked this*
USA welcoming nazi scientists
*We pretend we didn't see that*
Argentina welcomed radicalized nazi generals. The only value they brought was nazi ideology...
@@santisven and something else, a little bit more important... gold.
There is a stark difference between being partial to Nazis enough to serve as an escape route and getting scientists for their brains... The Soviets actually used the Nazi scientists more comprehensively than the US...
@@axelpatrickb.pingol3228 - You have NO scruples! You justify every bad act.
I mean the US helped end the war, I’m pretty sure they get a pass
Says: "However we will now be doing that on our second channel, i bet most of you didn't know we had. Go and subscide to that one as well.." and doesn't tell what the name of the second channel is. Wanna quess why most of us don't know about your second channel?
I assume they mean Economics Explained II. It's in the channels links to other channels. I'm about check it out myself 😎
Latin countries: nationalizes everything
Investors: Stop investing
Latin countries: *surprised pikachu face*
50 % live in poverty, no one can even rent anymore, min wage is 22k ARS a decent place to rent is 18-22.
We wont hold any more.
18? Donde? Jajaja yo lo menos que vi es 25 en Caba, es una depresión
Si son jovenes y tienen la oportunidad traten de conseguir algun trabajo freelance que les page en dolares, yo vendo dibujos.
@@denko173 ¿No te sacan una parte del dólar? ¿Por dónde cobrás?
@@Ducking-dt4iq si cobras en crypto no te sacan un carajo las lacras. lastima que es jodido e inestable cobrar en crypto
@persezyra 60%
Economist from Argentina here! Really spot on video! However, I want to make some really really little comments:
14:15 the Argentine Peso was pegged at a ARS/USD = 1.00 (one dollar for one argentinian peso instead of one dollar for three pesos)
5:05 most of the books and datasets that I know show that the second decade of the twentieth century was a high-growth decade mostly driven by US investments, therefore I would say that the stagnation started with the great depression. Nonetheless, it is a topic that is still debated among exonomists here in Argentina (we Argentinians like to discuss about everything).
As I said, these are almost secondary things that do not change the gist of the video at all.
Last but not least, it would have been interesting if you would have explained (as you usually explain economic phenomenoms in your amazing videos) stop-and-go cycles caused by the big influx of short term investments and by the pull out of these capitals (given to the lack of confindence in the peso) which end up causing a huge depreciation of the value of our currency and then reducing the purchasing power of Argentinians. I would say that most of the crisis that happened in my country were caused by stop-and-go cycles or balance of payments crisis.
I think he made an enfasis on after 2001, when dolar started raising again, where for a time it was around 3Ar$ = 1usd; but it would have been better to explain the 1=1 and then when it broke and the 166=1 of today
True, until January 2002
I am just reading Debt Crisis from ray dalio and he describes an archetype for cyclical economic crisis both inflationary and deflationary, and among the core reasons for an inflationary crisis you can find the ones you cover, it’s funny how well these phenomena are understood but the narrative down here in argentina is still a pissing contest between Peron and the rest of the parties or even rich and poor, it just that our government is corrupt and doesnt understand the first thing about economy
@@alfonsoserramartinez1344 nahhh... he clearly mentiones BEGINNING OF THE NINETIES
@@AnoNymous-2013 yes, you can't understand what happened in 2001 without understanding the 1=1, that happened in the 90s, but isn't interesting digging in the 90s, but in what happened after 2001 and how we went from 1=1 to 1=200
Don't the Argentines have that joke that goes something like:
"When God made Argentina he gave it everything - beauty, resources, ports, abundant farming land. We saw how unfair that was to its neighbours, so to compensate he populated it with Argentines ..".
Yes, that's right. The joke can also end with "and then God gave them Perón"... or populism, take your pick
Same with Brazil, there's another joke here that says: "The problem of Brail is Brazilians"
@@Testimony_Of_JTF more like "The problem of Latin America is Latin Americans" lol
@@sladiusw5938 Agreed
Yup, we say that
Este país se va a la mierda...
"Darin 2001"
20 años y sigue siendo igual de válido
Thank you for your video!!!! As an argentinian, I believe your video is actually quite good and balanced!!!!!! Which is an extremely impressive thing for a non argentinian to make, since the economic problems of Argentina are so complex and politics is so polarized (which explains the pingpong of economic policies).
Most people who post here can see only part of the problem, since they are heavily partisan. But they do not see that they are part of the problems of drastic economic reforms that has destroyed the country. We tried that sudden liberalization and finantialized economy (based on Carry Trade) with the 1976 dictatorship, Menem and Macri. It was a disaster. We tried a more State-oriented industrial-internal market economy with Alfonsin, and the Kirchners. It was also a disaster.
We've been pingponging between different models since the IWW. As you accurately said, the problems started then, which destroyed the fragile latifundist economy based on wheat exports. Many partisan thinkers believe the problems started with Peron, which is actually false. Peron did industrialize the country and create lots of economic growth but, as you said, on an extremely fragile basis.
The first moment this fragility started to create a currency crisis was in 1975, when just after Peron died and just before the last coup, in an extremely politically polarized country, in the middle of the international stagflationary oil crisis, there was a huge devaluation that started to erode confidence in the peso.
This bimonetarism increases the volatility of the economy, since it makes the exchange value of the currency extremely volatile. Add to that the huge finantial bubbles based on Carry Trade that the liberal oriented models create and the stagflationary policies that the more interventionist models create, with an extreme political polarization that guarantees a constant back and forth between the two failed economic models, and you have that the instability has only grown in the last 50 years.
You can imagine the level of distrust on politicians in this country (besides corruption), when we have tried every strategy on the book, orthodox policies, heterodox policies, we have tried everything, and everything has failed. Politicians promise unity but as soon as things get complicated, they blame the opposition. Which gets hope in the opposition that maybe argentinian economy will recover once they are in power. But to me, I'm starting to sense of despair and cynism, where people are starting to realize that every politician of every colour that we had had only made the economy worse and worse. What does a people do when you have tried dictatorship and revolution, liberal governments and interventionist governenments, charismatic strident leaders and grey soft-spoken leaders, you have followed to the T the IMF recommendations, and you tried to do things completely different, and absolutely anything that we've tried has been an absolute and complete failure?
I sincerely am happy that the currency crisis seems to be near its final explosion. Having a dollarized economy is bad. But not as bad as having a bimonetary economy!!!! I crave for the stability our ecuatorian brothers have.
But yeahh, living in argentina is kind of exciting. It is like living a constant adolescence without ever being able to settle down into the boring adulthood.
Do you think there is a solution for that? You are indeed right that the Argentine elite has tried both models (liberal & financial vs "socialist"&industrial) and it seems that no one of them has worked out.
It's refreshing to read a comment from another argentinian, which is not partisan.
To save the economy, I'd propose we export our memes, since they are our better manufature, and definitively world class.
No creo que dolarizar arregle todos los problemas,vamos a dolarizar y por el déficit fiscal las provincias van a emitir cuasi monedas,los impuestos van a seguir altos y la estanflacion estará con nosotros otra década,este país no tiene solución
@@leandromartinez5163 carajo me había olvidado que algunas provincias son un desastre.
La primera vez en la historia de UA-cam donde se habla de política argentina y hay una seguidilla de comentarios racionales que no son partidarios ni agresivos. Lo acabo de disfrutar
*"THIS IS ARGENTINA"*
I cannot believe that anymore after the Mistakes of 2020 video.
did you know that the biggest economic faculty of the biggest university just teaches Keynes and Marx for economics? that's why Argentina is in the gutter, don't believe the lies, Argentina had a growing industrial sector before the 30's, the reason for it's meteoric growth was the constitution inspired in the one from north America and the "reasons for wealth of nations" from Adam smith, the reason for the political chaos is because Argentina is really two nations in one Country, they can't decide for one way because they have different foundational values.
Well then rest assured by an Argentinian that all those images were from my home. The good, the bad, and the plainly depressing. I miss those broken pavements and badly built apartaments so much. That black, fertile land. The fat cattle and the golden fields of grains. The cold south, the scorching north and the soft, rolling grassland amid. Those neat grid pattern cities with a nice tree every 5 metres where birds nest happily, and their songs in the morning. The overworked bus driver, the scrambling entrepreneur... My home I dearly miss.
@@adeptusvoxradio en muchos lugares no ponen arboles en las veredas, especialmente en USA, son gente ridicula donde no hacen eso, una ciudad sin arboles es una ciudad chota
@@acuerdox totalmente.
Lol
Argentina: I love to ride on an economic rollercoaster.
Its funny, specially because when there is a futbol match we forget about everything. Vamos boca carajo
As a Brazilian, I know how you Argentines are doing, we are reaching the peak of the crisis in Brazil
I feel personally attacked by that llama on the thumbnail
And that's not even one of our tactical llamas.
I'm a llama and I'm from Argentine can confirm that.
@@toshiaki10419 with machine guns and tactical supplies?
Llama llama llama... Bleh
Why? You are a swordfish...
Yeah, argentinas esconomy could be described in two words: Corruption and Instability
Thank you to the host for this video. I’m an American and have visited Buenos Aires many times. Great people and great country.
It’s actually a really beautiful country! Our major problem is on economy, but we have beautiful people, awesome culture, amazing people and great food. As an Argentinian i visited America dozens of times and i really love your country and i hope i can move there once i finish HS here. Also, if you plan to visit Argentina again i recommend you visit the South of our country(Patagonia). It’s awesome, similar to Montana up there.
I ran into many Argentine fans in Doha these past few weeks, and let me tell you, most of them were actually broke. I was surprised that they made it all the way to Eastern Arabia in Western Asia. Turns out, that banks are handing out loans, for them to be able to attend World Cup matches in Qatar, through seven-year loans at 50% interest rates or 49.85% to be precise. Unbelievably insane, and quite suicidal. Apparently, those same banks made the same offers 4 years ago, during the 2018 FIFA World Cup in Russia.
They have time to talk about Falklands and French teams racial makeup. Maybe they are more interested in that. Don't hurt their emotions
Woah what’s new, the capitalist elite sucking people dry
If Mike can go 9 months without another Argentina related video I’ll eat my hat.
No dude. We are too rare. We have everything to win and we fail.
@@KAPANGAAAMASTER Exactly. People seem to forget that slavery is how the U.S. its wealthy base. So not an honorable way to fund a new nation. And our bad policies and decisions have wreaked havoc on other country's economy. Especially since 1970's. I think inventions helped us come a long way. But mathematically, it's so expensive to live here now. It is very hard to have a savings account for most Americans. Rents have nearly doubled on average over the last 6 years.
I was studying in Argentina back in 2017. We learned a lot of this from our teachers there and they brought up the theories of how Argentina adopted spain's models instead of the UK's models, but also some talked about Juan Domingo Peron and how his policies actually made the power structures of argentina and creating its current economic climate as well as the main political movement known as peronism. I think he was a big factor in why argentina is the way it is today but this video brings up a lot of other good points in how Argentina declined.
Edit: the only problem. I have is that the currency in the was pegged 1-1 to the US dollar not 3-1. I believe they attempted to change the exchange rate either right before the or after the 2001 economic crisis
I can confirm exchange rate was 1-1 in the 90s in Argentina. It bumped to 3-1 after the 2001 crisis.
@@TheAURELIANITO gracias a vos
Yes, it's a shame that mistake was made, from 1991 to 2002, the exchange rate was fix at 1 ARS = 1 USD.
Peron seemingly created a lot of growth and, more importantly, higher living standards. Though he was definitely problematic, there is a reason he has so many supporters.
@ALPHASTAR RU The claim that Argentina declined because of Peron is not backed up by evidence.
1.Peron only ruled for 11 years in total,Argentina had been declining since 1920 after the world war and specially after the Great Depression.In Argentina this period is called the Infamous Decade when a fascist government took over which ruled longer than Peron ever did(1930-1943).
2.Argentina under Peron’s first government saw economic and industrial production that far outpaced that of the previous decade.This had a lot to do with post war boom of course but claiming Argentina started to decline under Peron is dishonest because it did not it did better than it had in a while.
3.Peron was ousted violently in a coup in 1955 and anti Peronist would rule from 1955-1973 using authoritarian means to stay in power due to Peron’s overwhelming popularity.The reason he was popular of course was because wages under Peron doubled,industry doubled,and Argentina started to produce its own cars,planes and tractors.There was of course a massive downturn in agricultural production and a small recession in 1951,but most people did not care about that because the country simply imported foreign food using the new money made from industry.
4.Peron would return in 1973 and die in 1974,he would be succeeded by his wife and she would be ousted in 1976 by openly the anti Peronist armed forces.They would rule the country from 1976-1983.If anything the junta had a lot more to do with Argentina’s modern decline than Peron ever did.Under the Junta the country saw the worst recession since the 30’s,40,000 people were killed directly by the government,and the country entered an expensive war,foreign debt tripled,and wages stagnated.The return to democracy would see the continuation of the same economic policies and another bigger recession would occur in 1989.Later Menem would run as a “Peronist” but he would continue the same policies of the Junta,privatizing and cutting social services.And Argentina would almost burst into civil war because of it and enter the biggest recession in Argentine history,worst than the Great Depression.Then he was replaced by the Kischners who were a bit less neoliberal and more closely related to Peron’s original economic policy but not fully.But yet during their mandate is well the beggining of the video,booming gdp growth,higher wages,low inflation ,etc.At the end this was less the case but when Macri was elected who reversed these moderate economic policies the country went into the crisis it is right now.So I don’t know how a teacher of history can tell you to your face that Peron had anything to do with the crisis the country is in at the moment.
5.If one counts the number of leaders since 1955 openly anti Peronist governments have ruled for 34 years of the 65 years since Peron left in 1955.If one only includes the Kischners and Peron since most agree Menem was Peronist in name only that’s 27 years of Peronist ruling Argentina compared to 47 of anti Peronist,yeah sorry that’s bs what they say.
Can we get the Economics of Uruguay
the country sandwiched by two gigants, Argentina and Brazil
don't be deceived by the small country part, that mattered in the middle ages where agriculture moved the most money, nowadays there's more money in other places, just look at Taiwan, or south corea.
Uruguay is an example to follow. Uruguay is like Argentina would be without Peronism.
I guess it's because Uruguay no longer belongs to Brazil nor did to Argentina that it turned out to be one of the few stable places in South America.
Uruguay is the beacon of hope in South America, we're proud to have them as a bro
@@splashnskillz37 si pero tiene como 3 millones de personas. es un descampado.
Over time I've gained a true sense of pride knowing the whole world takes Argentina as an example of what NOT to do. It's kind of a subtle vindication in front of all our sickening-abhorrent politicians and their braindead zealots.
Pretty much the same can be said for most ex-USSR countries...
@@gorantev yes but at least those countries have an excuse. I guess achieving independence through the collapse of a massive empire it's not easy, much more less trying to develop while remaining under strong russian influence. We instead did this to ourselves. We went from having it all (institutional conditions, highly-alphabetized educated society, properly competitive industry, huge migration waves, vast human and natural resources) - from needing just a little push to reach a reference place during murky times in the world, to systematically self-destruct without any war or catastrophic event involved.
We love your country, your people, your culture and we would visit in a heartbeat, but for your politicians... Everyone wants to love Argentina, you have style, and panache, a great cultural heritage, amazing food and a huge beautiful country. Can you do something with those politicos though?
Yay finally my country getting featured, knew it was going to be trashed
Small disclaimer. During the 1990es the Argentine peso was pegged 1:1 with the USD. Great video!
As someone from Argentina, living in this crazy country... Thank you for making this video!
Argentina: The hardcore experience for an investor
If the mood of my exgirlfriend would be a country that would be it.
oooft, accurate.
@@EconomicsExplained tell that her not me. ;-) She said its my fault somehow. Have a great new year I love ur videos that educated me so much!
Lemme guess right after she blamed you she started a war with the Falklands
@@jamescanjuggle Made my day. :-D
As on Argentinan, thank God she's your ex
Me an Argentinian: I just whatched this for 5 minutes and I am already depressed
So you got on tune with our economy? (Yeah, me too UnU)
Si
Wait, you weren’t depressed before? You are lying about your nationality
living in argentina is a constant depression, that's the thing.
same
Which percentage of the argentinian GDP is just yerba mate production?
Haha unable to tell, but I will say I have tried that stuff and I can see why it is so popular, it's just a really nice tea.
It is a really small part. Source: I am from Argentina.
@@TheAURELIANITO small relative to argentina or small in comparison to what an economy would normally look like
That stuff tastes like what I imagine urine would taste. It's horrible.
@@slyseal2091 Small compared to Argentina's economy. We make nuclear reactors, satellites and cars over here :)
"... Britain with an asymmetrical flag here"
Lol.
Don't be bitter because you didn't notice that the cross of St Patrick needs to be on the right half of the cross of St Andrew's arms
😂
It’s not symmetrical though
It does have rotational symmetry though, just not mirror symmetry
Starvation Fernandez: “If you invest in Argentina you will notice the great opportunity it is with minimal risk”
3 doritos later
Starvation Fernandez: “Capitalism must be revised”
AJSJASJJAJA STARVATION FERNANDEZ
Queti
🇦🇷
creo que Starvation Fernandez supera a Macrisis y Kretina, apodos de la mejor calidad
@@starseeker6102 en ridículo? Jajaja quizás