Argentine Economy

[QUOTE=Stan Da Man]I've heard that watching currency moves makes one appreciate all the fast-moving action and intricacies when one watches paint dry. That's largely true. Still, watching the peso has been moderately entertaining the past month.

For the past three weeks, the peso has been approaching, SLOWLY, the $3.50:1 mark. It got there intra-day once but I don't think it closed over. It pulled back a bit from there for a while but finally crossed the threshhold on Tuesday. Having pierced that barrier, there doesn't seem to be as much support any more. It's quickly moved to $3.53 and looks like it will keep falling (though I'm no expert or fortune teller)

It will be very interesting to see if the Argentine Central Bank has been trying to prop the peso up or slow the slide and, if so, how much of its reserve dollars it has spent doing so. At some point, they'll wave the white flag, and then look out below. A few events, like another farmer's strike or a marked worsening of the drought, will hasten the slide to $4.00:1. From there, it's anyone's guess. We may be seeing the start of that whole process right now.

Anyone have any local insight into what the exchange houses are doing? Are they giving out dollars? Are they placing limits?[/QUOTE]Two weeks ago the National Bank spent US$120 million and last week it spent 45 million to prop up the peso. The government is controlling the fall of the peso in the following manner:

1. Threatening to sell dollars in order to stop the money changers from too much activity in the buying and selling of dollars.

2. Actually selling dolllars.

3. Making it very difficult to buy dollars unless you can prove from where the money came from.

4. Quite a few banks and exchange houses now make you sign a small document that you swear you are not exchanging more than US$2,000 per month.

5. Visiting private banks. These banks have no signs. It's all based on trust. There are more than a few of them in barrios like Once. These are private banks in apartments that are fortified like banks, but are used to send money overseas by way of Panama, Germany, etc. These so called banks charge anywhere from 1 to 1.5% to send money. Literally you leave the money with them and within a few days it shows up in your account or in the account of the person you are sending it to. This is similar to the diamond exchangers of 47th street of New York city.

6. AFIP (the equivalent of the IRS) this week sent 1200 agents to visit 15,000 individuals and companies for investigation of not paying taxes and getting them to put their illegal stashes of dollars in the open (blanquear el dinero)

7. Also, AFIP has threatened to get court orders to look in bank safety boxes if they suspect avoidance of taxes and the holding of dollars that were ill gotten.

Anyway, it seems to me that the government is keeping the peso from floating downwards not with a "shhhhhh", but with a bang.

[QUOTE=Argento]The question is and I will give the answer, so no prizes.

How do you spell "very stupid"?

Answer. "A R G E N T I N E P O L I T I C I A N"

Argento[/QUOTE]The question is and I will give the answer,

Why do you keep on living in a place that disturbs you so much?

Answer:

Because you have been so dude all of your life that there is no other place in the world, at this point, where people could stand you so much as argentine people have already done.

Marcelo

[QUOTE=Marcelo Uribe]The question is and I will give the answer,

Why do you keep on living in a place that disturbs you so much?

Answer:

Because you have been so dude all of your life that there is no other place in the world, at this point, where people could stand you so much as argentine people have already done.

Marcelo[/QUOTE]Why do you come on to a site that obviously upsets your delicate little Argentino sensibilities so much?

Answer:

Your head is so far up your rear-end that you are well-hidden from the idiocies that go on here and will continue to be a government / idiocy apologist until you have nothing left.

We write about this stuff because it actually hurts a lot of us to watch a place that we otherwise enjoy and have sentimental feelings for tear itself apart. We can't understand how so many people can be so blind to how reality works and this is what is really being discussed.

Instead of displaying such an obvious bias against foreigners with no apparent reason, why don't you tell us where we are wrong and try to defend what we consider indefensible? At least then we could understand where your dislike stems from.

[QUOTE=El Queso]Why do you come on to a site that obviously upsets your delicate little Argentino sensibilities so much?

Answer:

Your head is so far up your rear-end that you are well-hidden from the idiocies that go on here and will continue to be a government / idiocy apologist until you have nothing left.

We write about this stuff because it actually hurts a lot of us to watch a place that we otherwise enjoy and have sentimental feelings for tear itself apart. We can't understand how so many people can be so blind to how reality works and this is what is really being discussed.

Instead of displaying such an obvious bias against foreigners with no apparent reason, why don't you tell us where we are wrong and try to defend what we consider indefensible? At least then we could understand where your dislike stems from.[/QUOTE]Guys, let's stop the bickering. We are all united in the fight against the torrent of global economic woes. It affects us all. Obviously Americans would not be living in Argentina or certainly wanting to visit there if not for the allure, the richness and the amazing culture that it has. The Argentinian economy is boosted by tourists and expatriots that are visiting or living there. The expats take advantage of a beautiful country that costs less to live in than many parts of the states. It's a win-win situation.

Jack

It is my opinion that we must not let ourselves be carried away by this provokers like Marcelo Uribe.

The short time I spend in this forum showed me clearly that there are only two reasons for argies to join this forum: one is when they try to make business with us. The other is when they try to provoke us.

It is my experience when talking with this haughty nosed arrogant shit that call themselves argentinos that they despise us, specially we the monger type. You will see this shit dog Marcelo Uribe will not post any more. That's the fun for this poor brained silly people: to register, throw two or three posts like these ones, laugh about us with their fellow shit headed companions and never come back.

Come on guys.

Lets tone it down a bit. It's the " internets ", don't take is so serious.

Regards,

BM

[QUOTE=BadMan]Come on guys.

Lets tone it down a bit. It's the " internets ", don't take is so serious.

Regards,

BM[/QUOTE]That's what I'm saying.

Thank you Badman.

Interesting breaking story in La Nacion regarding the controlled devaluation of the peso. Experts believe by year end the peso end will be around.

AR$4 -US$1.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1101604&pid=5867456&toi=6264[/url]

[QUOTE=Facundo]Interesting breaking story in La Nacion regarding the controlled devaluation of the peso. Experts believe by year end the peso end will be around.

AR$4 -US$1.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1101604&pid=5867456&toi=6264[/url][/QUOTE]I keep a spreadsheet with the evaluation and most of the time dollar go up on Fridays (not always) Mondays behavior are not predictable, and in general correction comes between Tuesdays and Wed. Of course, this is not every week, but in 3 years it's the most common.

High dollar it's good for me and for farmers, but a 1=1 would be ideal for those big corporations selling stuff to the local marketshare including gas co, water co, microsoftcore corporation, etc.

Based on the following article in the NYTimes, it appears the economic crisis and/or devaluation of the peso will occur rather sooner than later:

[url]http://www.nytimes.com/2009/02/21/world/americas/21argentina.html?_r=1&emc=tnt&tntemail1=y[/url]

Argentina in a few years down the line, may have to import meat, instead of exporting it, if the trend continues. The draught and the government policy, of limiting exports, to keep domestic prices low, are causing farmers to slaughter the cows that should have generated next year's herds. The fields are drying up, and if they buy food for the cows, they cannot make money.

[url]http://news.bbc.co.uk/2/hi/americas/7905357.stm[/url]

When you say stopped feeding, do you mean he stopped feeding his herd and left them to die in the field?

[QUOTE=Gato Hunter]When you say stopped feeding, do you mean he stopped feeding his herd and left them to die in the field?[/QUOTE]Unfortunally yes. It happened during the 2001 / 2002 crisis even with the Falabella horses. Falabella horses are Unique. Smaller than Ponnies, you can still see a few on the Palermo Lakes, it was shocking seeing those horses (I've seen on TV) on the fields with no food at all. During the Menem presidence a place with chickens was abandoned, and chickens eaten each other. Those are cruel things about Argentina. I hope caws do not eat each other.

If that's the case I would never call that man a gentleman Sidney.

At least put the animal out of its misery at a rendering plant, corned beef or panceros. Some return is better than nothing.

I am not a member of PETA, and I eat lots of meat.

[QUOTE]"Look, these cows are emaciated. They should be capable of four or five births, but I will need to sell them because there is no pasture. They won't be able to reproduce because they are too thin," he says.

"If I have to pay for food for them I won't make any profit. They will have to go for corned beef because they are in such bad condition," he adds.[/QUOTE]There is no point to just leave them in the fields to die. My guess is they will sell them at any price, which mean next years herd will be down.

There is talk by the government of "nationalizing wheat". This resulted in the peso closing today at 3.58 to US$1.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1103955&pid=5915745&toi=6259[/url]

Also, today school teachers rejected a proposal to raise their annual salary by 20%. They want 36%. Therefore, primary schools will not open on Monday becasue teachers will be striking.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1103865&pid=5915839&toi=6275[/url]

Also, construction permits for January and December fell 32% and 38% respectively.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1103915&pid=5915745&toi=6256[/url]

The government is pissed with the USA because the CIA predicted violent uprisings will occur in Argentina due to the world-wide economic downturn.

By the way, ever since Gysel raised her prices she has been running specials at lower prices. She's definitely smarter than the school teachers and those in government.

The NY Times has something in English on the nationalizing domestic and foreign grain trading.

[QUOTE=NY Times]TRIO DE JANEIRO — Argentine farmers, already suffering from their country's worst drought in more than a half-century, reacted angrily on Friday to reports that Argentina's president was contemplating nationalizing domestic and foreign grain trading.

Related.

In Parched Argentina, Worries Over Economy Grow (February 21, 2009)

Argentina's two main daily newspapers, La Nación and Clarín, reported on their front pages on Friday that the government of President Cristina Fernández de Kirchner was considering the move to effectively monopolize the country's most important export industry. They cited unnamed sources within the national tax agency.

Neither Mrs. Kirchner nor anyone else from her administration made any public statements on Friday, and government officials did not return calls seeking comment. Mrs. Kirchner will speak publicly on Sunday and has scheduled talks with farmers on Tuesday, according to Argentine news reports.

Analysts said an agricultural nationalization could be the latest move by Mrs. Kirchner to shore up fiscal accounts to ensure that Argentina could weather the global financial crisis and make payments on more than $18 billion in assorted debt obligations this year. In recent months she has nationalized the country's largest airline and taken over billions of dollars in private pension funds.

Farm groups characterized the possibility of nationalization as a move to pressure them to sell millions of tons of stored grain from previous harvests and thereby weaken their negotiating position with the government.

Nationalization could help Mrs. Kirchner obtain hard currency from export taxes on grain, which brought in $8 billion last year, 3 percent of Argentina's total revenues. Argentina has been struggling for dollars amid vast capital flight and has lost access to capital markets because of its history of economic mismanagement.

Farm industry leaders, who have been battling the government for a year now over the export taxes, said a nationalization would stiffen their opposition to the government. They want the government to lower export taxes to help them through the devastating drought, which economists estimate will reduce agricultural production by more than 15 percent this year. Falling grain prices are also taking their toll; wheat is worth less than half as much as it was last year.

While grain prices in Argentina were regulated as recently as 1991, nationalizing now, after a protracted boom, could be extremely difficult, industry officials said.

"I can't imagine how you could implement something like this," said Ricardo Forbes, the president of the Buenos Aires Cereals Exchange, in a televised interview on Friday night. He said just the talk of nationalization could further hurt the country's reputation as a reliable grain exporter. His organization issued a letter late Friday signed by numerous farm groups denouncing the idea of nationalization.

Since protracted strikes by farmers last year, they have been a thorn in the side of Mrs. Kirchner and her husband, Néstor Kirchner, the former president and current leader of the Peronist bloc. Mr. Kirchner in particular has tried to neutralize their growing political influence, accusing them of being greedy "coup plotters."[/QUOTE]

The peso's rapid decline earlier in the week was rather interesting. It jumped from $3.57:1 to $3.61:1 in a hurry. Later in the day, this appears:

"The central bank said in a statement today it bought foreign currency this morning and then "compensated" the move with foreign currency sales in the remainder of trading."

[url]http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atU3ksmaxnxs[/url]

This corresponds exactly to the quick move on Monday.

If that's what happens when the Central Bank stops its support, then watch out. If the currency reserves start to fall, then watch out. The big move is coming.

[QUOTE=Sidney]He knows mucho about aerospace and airlines! He could be the first dual Chairman of Lockheed and Aerolineas. He would be very good for the economy![/QUOTE]I can't find it anymore, but didn't I just read something about Kirchner nationalizing one or more ports? Or was that Chavez? I'm starting to get them confused.

[QUOTE=Stan Da Man]The peso's rapid decline earlier in the week was rather interesting. It jumped from $3.57:1 to $3.61:1 in a hurry. Later in the day, this appears:

"The central bank said in a statement today it bought foreign currency this morning and then "compensated" the move with foreign currency sales in the remainder of trading."

[url]http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atU3ksmaxnxs[/url]

This corresponds exactly to the quick move on Monday.

If that's what happens when the Central Bank stops its support, then watch out. If the currency reserves start to fall, then watch out. The big move is coming.[/QUOTE]It's the euro that's kicking the peso's butt. Yesterday the peso closed down 21 centovas against the euro. For the first time it's trading at AR$5.01 to €$1. The dollar is stable at AR$ 3.67 to US$1.

The central bank will try to get the peso down to about AR$3.80 up to the election of June 2008 (this new date is currently being debated). After this date the plan is to get the peso down to between AR$4 -4.20.

If there is a crisis because the government won't have enough money to pay about 2.5 billion due on August 2008 then the peso could fall below AR$4.20. Notice how the Ks are trying to have the election before all the bad news emerges.

[QUOTE=Facundo]It's the euro that's kicking the peso's butt. Yesterday the peso closed down 21 centovas against the euro. For the first time it's trading at AR$5.01 to €$1. The dollar is stable at AR$ 3.67 to US$1.

The central bank will try to get the peso down to about AR$3.80 up to the election of June 2008 (this new date is currently being debated) After this date the plan is to get the peso down to between AR$4 -4.20.

If there is a crisis because the government won't have enough money to pay about 2.5 billion due on August 2008 then the peso could fall below AR$4.20. Notice how the Ks are trying to have the election before all the bad news emerges.[/QUOTE]The peso is down against the Euro, because the dollar is down against the Euro. The Ar Central bank is looking at the dollar, not the Euro. They have been selling dollar to hold the peso at a value relative to the dollar.

The dollar is down, because the US Fed is going to print allot of dollars. This is from Bloomberg.

[QUOTE=Bloomberg]The dollar fell as much as 2.3 percent against a weighted basket of six major currencies. The greenback dropped 2.7 percent yesterday following the Fed's pledge to buy as much as $1.15 trillion of Treasuries and mortgage debt to cut borrowing costs. (snip)

"Investors are worried the Fed will print as much money as they need to and this is going to lead to some insanely hot inflation, so they're out buying gold," said Matt Zeman, a metals trader at LaSalle Futures Group in Chicago. "The dollar got clobbered. You print more money and it buys you less."[/QUOTE][url]http://www.bloomberg.com/apps/news?pid=20601012&sid=ageXqpURXByY&refer=commodities[/url]

[QUOTE=Tessan]The peso is down against the Euro, because the dollar is down against the Euro. The Ar Central bank is looking at the dollar, not the Euro. They have been selling dollar to hold the peso at a value relative to the dollar.

The dollar is down, because the US Fed is going to print allot of dollars. This is from Bloomberg.

[url]http://www.bloomberg.com/apps/news?pid=20601012&sid=ageXqpURXByY&refer=commodities[/url][/QUOTE]Tessan, I'm in complete agreement with you, that's why my post focused on the dolar to peso exchange rate and what might occur in the future.

The phoney figures produced by Indec can't hide the alarming drop in production:

By Shane Romig.

Of DOW JONES NEWSWIRES.

BUENOS AIRES (Dow Jones)--According to the Argentine Central Bank's latest survey of economists, banks and other institutions, the median forecast for national statistics agency Indec's report is for a 0.8% decline year-on-year in February.

However, many analysts see the official figures as downplaying the extent of the actual decline in industrial production.

Indec is to release the February industrial production report at 16:00 local time (GMT 18:00) Monday.

Goldman Sachs analyst Alberto Ramos is expecting an actual 6.5% year-on-year decline in February industrial production due to weakening domestic and external demand. A significant decline in auto, steel and iron production "is likely to have impacted severely" February's industrial production, Ramos said.

Last month, Indec reported that industrial output fell 4.6% in January versus the same month a year earlier, led by plunging output in automobiles, steel and textiles.

However, Argentine industrial production may have declined almost twice as much in January, according to a preliminary report by the Argentine Industrial Union, a group that represents the country's leading manufacturers.

In addition, the UIA report put output for all of 2008 up 3.5% from the previous year, compared with the 4.9% figure given by Indec.

Local think tank FIEL's independent index recently calculated that industrial production in January plunged 11.4% on the year and 5.2% on the month.

In response to the discrepancy in the government figures and those of independent sources, FIEL recently decided to stop participating in the government surveys.

FIEL will no longer offer forecasts for five indicators measured by INDEC: the consumer price index, the index of industrial production, the monthly economic activity index, gross domestic product and its components, and the unemployment rate, the think tank said in a release last month.

This was due to the "statistical anomalies observed in various indicators" produced by Indec over the past two years that had "severely affected confidence," said FIEL.

Most analysts are predicting a sharp slowdown in growth in Argentina during the first half of 2009, with many expecting the country to slip into recession. Six months ago, Argentina was still thought to be growing at an annual rate of around 8%.

But some key indicators have shown an alarming decline in recent months.

Raw steel production in February fell 9.4% from January and was down 42% on the year, according to the Argentine steel manufacturer chamber, or CIS.

February auto production plunged 55.7% on the year, according to the Argentine Automobile Manufacturers Association, or ADEFA. Production was down 20.4% from January.

-By Shane Romig, Dow Jones Newswires; 54-11-4590-2438; [email]shane. Romig@dowjones. Com[/email]

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: [url]http://www.djnewsplus.com/nae/al?rnd=opwgYsaCMSZ0RM8N0TznMw%3D%3D[/url]. You can use this link on the day this article is published and the following day.

> Dow Jones Newswires

[QUOTE=Stan Da Man]The peso's rapid decline earlier in the week was rather interesting. It jumped from $3.57:1 to $3.61:1 in a hurry. Later in the day, this appears:

"The central bank said in a statement today it bought foreign currency this morning and then "compensated" the move with foreign currency sales in the remainder of trading."

[url]http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atU3ksmaxnxs[/url]

This corresponds exactly to the quick move on Monday.

If that's what happens when the Central Bank stops its support, then watch out. If the currency reserves start to fall, then watch out. The big move is coming.[/QUOTE]Ahum.

Sorry for the yawn.

But it's been two years or so I'am reading this apocalyptic announces in this forum, and still nothing happens. Did you ever put yourself to think, Stan Da Man, that there is something called "controlled devaluation"? That the peso and the dollar are more or less where the Central Bank planned to keep them? Six years ago the dollar was 3 to 1 in relation to the peso. Now is 3.61 to 1.

So?

When "the big move" will come?

Will it come in the next ten years?

In this century?

Ahum.

Sorry for the yawn again.

I'll better go back to sleep.

Julio,

Yep. I've heard of controlled devaluation. The post below is mine from a few months back.

That said, my limited experience is that governments generally aren't able to sustain the "control" in controlled devaluation for very long. We'll see whether the Argie Central Bank can do so. Sorry to disturb your sleep. If you're really waking up just to read this board, then I might suggest you get another hobby. To each his own, though. Suerte.

[QUOTE=Stan Da Man]The peso is quietly crossing the AR$3.50/ USD$1 threshhold.

Having watched this for the past few months, I must say that the Argies have done a masterful job of walking the peso down. It was inevitable that it happen but important that it not happen in a chaotic fashion. They've done a good job with a slow but steady devaluation of nearly 20% in the past 8 months or so. I tip my non-existent cap.

There should be more to come for the foreseeable future. I wonder how much the slow but steady devaluation has cost the Central Bank so far?

For anyone interested, there was a decent article in Saturday's Wall Street Journal on Latin America, and the divide between Venezuela, Ecuador and Argentina, on one hand, and Brazil, Chile, Mexico, Columbia, Peru and similar countries on the other. You should be able to access it here: [url]http://online.wsj.com/article/SB123336272714535407.html[/url][/QUOTE]

It is not surprising that the Argentine economy is tanking. It is also not surprising that the Argentine economy has been is an irreversible decline for over 100 years and can look forward to slow perpetual decline forever.

Argentina can thank its demise to.

1) The fucking most ricidulous labor laws in the known world.

2) The fucking most worthless unions in the known world.

3) A populace so dense that that they actually think their labors laws and unions are somewhere within the 95th percentile of world norms.

The peso was devalued once again today. It closed at AR$3.71 - US$1.

Also, for the month of February imports and exports fell 37 and 24% , respectively.

The Central Bank, which is run by a highly respected economist, is trying to bring the peso down far enough to be able to compete with Chile and Brazil. The later countries mentioned aggresively devalued their respective currency.

[url]http://www.lanacion.com.ar/nota.asp?nota_id=1112683&pid=6108605&toi=6262[/url]

742,000 job losses in March in the US. Highest unemployment rate in 27 years...35% of US households net equity lost over one year...10.3% unemployment rate forecast for 2010 (already the case in 7 states including California)...

Do you guys feel safer financially in Argentina or at home? Wont unemployment induce automaticaly a rise in violence and crimes since social mattresses are so thin? How will us american retirees survive the capital losses while so heavily invested on the stock market? The mean total us american debt per household is 750,000 USD, higher than their net equity, the saving rate is negative, house debts are paid with credit cards, is there a possible outway to this crisis?

On another hand, the chinese are starting to export their currency. They agreed a 70 billion Yuan credit line to Argentina in exchange of chinese produces purchases (which spares to have to use the USD for those transactions). If the dollar stopped being used as an international currency due to their debt bubble, what would be the consequences for the USA? Wouldnt a lower demand for the currency lead to an important drop in its value? Interest rates are already at zero and the fed has to buy its own bonds, which margins are left?

Basicly, the USA dont own enough equity to balance their debt, just like Argentina in 2001. But unlike Argentina, their debtor is not the IMF but Chinese and Japanese sovereign funds. Even tho they are taking huge losses on bankrupcies like AIG or Fanny May, they keep their money there in exchange of more power in global institutions. Surprisingly enough, Mrs Clinton didn t dare any claim for more "freedom" or "human rights" in the way their main loaner is managing its 20% stake of the humanity during her last visit there.

The only way to get rid of the debt will be inflation and taxes. Who will pay? Inflation will affect pensioneers income, taxes for middle classes.

[QUOTE=MataHari]The mean total us american debt per household is 750,000 USD, [/QUOTE]Can you cite the source for this figure? According to the US National Debt Clock the figure PER PERSON is $36,387.31 (as of April 2nd at 4:13 am GMT) I don't know the average number of people per household but I'd guess somewhere between 2 and 4.

Bob

Your figures count only Federal Government Sector debt

[QUOTE=Michael Hodges]America has become more a debt 'junkie' - - than ever before with total debt of $57 Trillion - - and the highest debt ratio in history.That's $186,717 per man, woman and child - - or $746,868 per family of 4,$32,104 more debt per family than last year.

Last year total debt increased $3 Trillion, 5 times faster than GDP.

External debt owed foreign interests increased $1.2 Trillion;

79% ($45 trillion) of total debt was created since 1990,

a period primarily driven by debt instead of by productive activity.

And, the above does not include un-funded pensions and medical promises.

[/QUOTE][url]http://mwhodges.home.att.net/nat-debt/debt-nat.htm[/url]

Detailed but not actualized :
[url]http://mwhodges.home.att.net/debt-summary-table.htm[/url]

A quater of that debt is owed to foreigners : 180,000 USD per household (roughly the average price of their home).

Sidney is right. The G20 meetings are the market's Viagra right now, let's hope it sustains as I'm abit concerned of continued progress.

The G20 represents over 75% of the world's GDP (approx 250 countries) and 25% of the world wealth (use to be 34% of the world's wealth last year) That's a powerful influence.

In essense, you have the markets moving up on 20 knuckle heads, who are mostly mongers themselves, saying the right words in public.

[QUOTE=Balle13]In essense, you have the markets moving up on 20 knuckle heads, who are mostly mongers themselves, saying the right words in public.[/QUOTE]LOL, even Merkel?

[QUOTE=Doggboy]LOL, even Merkel?[/QUOTE]Well she's head of State and she's German so there's a fair chance she is. LOL

Yes, even Merkel. She's had Sidney's 11 inch cock.

I have a two part question regarding the economy. Hopefully I put this in the right thread.

I have been to BA twice before and had a great time at the low end privados. I don't do clubs. Just budget privados. Last time I went I banged 31 pussies for a total of $525. An amazing "spread" sheet if you ask me.

I was paying between 30 - 70 pesos for time well spent. Inlcuded bbbj and and a few anals. I can get off on 6's and 7's no problem.

I would like to go back rent an apartment for a month and do it all over again. Also take a side trip to paraguay.

*1. Are there numerous privados that still offer budget pricing between 30-70 pesos or is 150/200 now the norm? I could go up to 100 pesos and maybe 150 with extras included but that is all. If 200 is the name of the game I could think of better countries to monger in.

Where do I stand? I've asked a few members via pm and got different responses. I'd love to hear other comments from guys on the ground.

Thank You! As always my trips depend on the expertise of members already there.

*2. Another reason I go to BA is to enjoy the little things in life that I cannot enjoy in NYC. Eating out seeing movies theater etc.

Can I still get a nice lunch for 30/40 pesos and can I sit down in a civilized restauraunt at night and order soup steak and wine. Maybe desert for 60 pesos or under?

This is really important to me. Thank you for your time. I strive to do my best when reporting. I look forward to contributing once again.

Good luck and Be safe,

Artisttyp