If Your Compass Could Talk…

A while back I posted a question about the South American economies and their rate against the dollar. Here is what I think, is the best response:

Think of it this way: if there’s a world wide credit crunch (as it appears there is) and banks and things are cutting credit off to US companies, which have traditionally benefited from extremely generous lending policies and many of which are considered very good credit risks . . . then what do you think happens to under-developed countries, many of which have been recently in default (the equivalent of bankruptcy) and are considered very BAD credit risks – do you think an investor or bank with only limited funds will still keep investing in Latin America or will decide that it’s better to go with the safest of all possible investments (ie. AT HOME and the absolute SAFEST bets at home). Latin America is, essentially, one big sup-prime borrower. And sub-prime bets are all off.

When the developed world falls, the under-developed world tends to fall harder. EVERYONE is freaking out and withdrawing investments – they keep their money in only the safest bets, and sometimes that’s under the mattress. And the safest bets are NEVER in Latin America, even in the best of times. (Latin America is where you go if you want to make lots of money in a short time, but confronting big risks that you might lose it all.) Hence, when the going gets tough US and European currencies will go up – while Latin American currencies will go down.

Also, in Argentina it’s South American economic factors which are driving the lending policies (and the limited interventions from the Argentine central bank, which has lots of US dollars to spend to make sure that the exchange rate is more or less what they want): Brazil just devalued their currency rather significantly, which makes Brazilian goods cheaper in Argentine markets. The way Argentine industry can compete is if the Argentine pesos is also cheap, which means that it needs to be devalued a little – hence the Central Bank of Argentina lets the peso inch upwards against the dollar. (Many economists have argued for a long time that the peso, absent Central Bank interventions, should be valued at 4.00 to the dollar, or even 4.20. )

Attention one, attention all: You have all heard of the famous San Telmo fair. And you will all, without a doubt, attend one Sunday on your trip to Buenos Aires. Of course you will! San Telmo is one of the most beautiful neigborhoods in Buenos Aires and as far as tourists are concerned you simply have to go to say that you went. The architecture is amazing, the food and fun – spectacular.

Here’s a word to the wise however. Due to inflation and the popularity of the fair (no sources can be sited as this is travel-pro experience talking here) costs have sky-rocketed even in the past year. Something you souldn’t pay more than $20 pesos for, will have you forking out $200. Don’t be fooled, a lot of it is amazing, but a lot of it is junk from the vendor’s grandmother’s home. Still cool, don’t get me wrong.

The ‘other’ San Telmo fair is a true antiques fair. Known as Mercado de las Pulgas or, Flea market, this open air market has antique furniture and trinkets falling out of your ears. You will roam row by row of vendor’s things in complete antique-awe of how amazing it all is. Trust me!

It is located on Dorrego y Cabrera in Palermo Hollywood. Now it doesn’t have the torusity charm that old San Telmo does (ironically located in Dorrego plaza) BUT it is worth your time for you antique lovers.

The US economy right now has people asking a lot of questions. What will happen to the state of the economy in the long and short run? How will this affect me? What will the situation be with employment? Who will be elected and how will they handle the crisis?

A smaller question that we are in search of answers for is applicable to you travelers. With the weakening US economy the dollar in countries such as Argentina and Brazil is strengthening against local currencies. Now, for example is a great time to exchange money into dollars and hit the ATMs if you are a foreigner living abroad. But why does a weaker US economy strengthen the dollar against foreign currencies? We hope to offer some answers soon – for now, enjoy this ‘silver lining’. It may probably won’t last.

If you’re in Buenos Aires and want to hit the gym, you’re not alone. The locals in Buenos Aires are more than a little aware of their personal appearances and the appearances of others. Statistics have suggested that Buenos Aires has one of the largest rates of Bulimia and plastic surgery in the world. Now, we’re not making any infrences toward that end but looking good in Buenos Aires is certainly a top priority.

If you want to hit the gym there is sure to be one in your neighborhood. Megatlon is one of the large popular chains but there are more than a few ‘average joe’ gyms scattered well throughout most neighborhoods. The average cost will be about $AR 60 – 100 pesos to attend and you can easily purchase day, weekly and month long memberships. Most gyms offer a Tues-Thurs or Mon-Wed-Fri option if you want to cut costs on a membership. Needless to say however, you shouldn’t have any problems finding a place to hit the weights.

Like anything truly Argentine, the gyms are closed on Sundays and Holidays – b/c they know (and I think you do too) that no one wants to sweat it out on a lazy-Sunday.

Arial View of the Amazon – wicked good travel pic.

Here is a bit of travel news for all you South American and Argentine travelers out there. A recently posted article on Yahoo Argentina has unvieled plans from Argentina to charge reciprocity fees (U$S 131.00) to travelers from 114 countries. Details are still in the works, but it certainly must be a consideration among travelers who are making plans.

Check out the article here.

And who isn’t. Although its one of the biggest cities in South America, it is absolutely crawling with wildlife (wild and domestic)! If you love animals there are a few areas you must see! The Zoo, located right off the Plaza Italia stop on the D-line has the most wild and exotic animals you are likely to see around anyother corner in Buenos Aires. The Botanical Garden is also located just off the stop as well and is home to most of the homeless cast in BA.

Looking to adopt a furry friend? Then, check out THESE sites:

www.yoteadopto.blogspot.com

www.gatosdelbotanico.blogspot.com

www.adoptanos.blogspot.com

The Recoleta Cemetery, located in posh Recoleta is my favorite ‘touristy’ thing to do in Buenos Aires. Every single person who has visited me in the city has loved this gorgeous Cemetery. Its located in Recoleta above Las Heras, a popular and easily accesible avenue. Additonally it is right next to Recoleta’s gorgeous movie theatre and a series of restaurants that make it the perfect afternoon destination.

Don’t be hesitant to go for a map when you’re viewing the cemetery it will show you the exact location of famos Evita’s grave as well as famous others. It is gorgeous, creepy and interesting and is sure to leave you feeling culutred and connected with the past of Buenos Aires.

If you’ve spent anytime in Buenos Aires you’ve spent some time on the broken and torn sidewalks that frame each and every block. If you’ve ever wondered why the sidewalks require you to keep one eye on your feet and the other on where you are going its because the sidewalks aren’t maintenanced by the city but are instead maintenanced by the building it fronts. In addition, the sidewalks are constantly torn up to repair pipes and the buildings don’t want to front the bill. If you’re lucky enough to enjoy a flat and even sidewalk give a thumbs up to the buildings on the block for making your walk in Buenos Aires that much nicer.

The dog walkers however, may have just been there, so keep an eye out!

If you’re wondering what to eat and you’ve already cashed out all the options in your guide book check out: www.guiaoleo.com.ar. It allows you to search restaurants by name, type of food, location and price. It has reviews and maps and is a basic gold mine if you’re hungry in Buenos Aires.

Consider it a survival tool!

Mar del Plata is like Buenos Aires’ summer home away from home. Almost every city inhabitant takes some time away from the city to enjoy the cool beaches of Mar del Plata. In January and February the beaches are crowded with locals and visitors but the many private beaches along the coast have loung chairs and beach service with beers and food for anyone who is lounging surf-side.

Mar del Plata is only a few hours from Buenos Aires by car and about six hours by bus. So many poeple head to this small city where there is a theater, casino and film festival each year. There is plenty to do, and plenty of places to stay in this lovely get-away from Buenos Aires.