Graciella Florentine, who was laid off from her well-paid sales job, now makes baby clothes to sell at a flea market.
What has stunned so many people here in the capital is how fast their comfortable lifestyles have fallen apart. Only a few months ago, Buenos Aires was known as the Paris of Latin America.
They enjoyed the good life, generous public services and public salaries. But their government spent much more than it collected in taxes. And much of that money disappeared amid widespread corruption and bad investments. Argentina borrowed from international banks, but couldn't keep up the payments, and the loans stopped.
With no new cash coming to pay for public services, the government hit the panic button. Savings accounts were frozen in order to prevent the public from withdrawing what money is left in the country.
Merna Bajraj, who was waiting outside her bank in hopes of at least cashing a single check to pay her utility bills, said: "You have a lot of uncertainty on what you will be able to do next week. You don't know if banks [are] working or not. It makes me very sad, and puts a lot of stress on my family."
In this nation of 37 million people, almost everyone is strapped for cash.
Pawning Treasures, Trading Goods
Pawnbrokers are doing a brisk business. Each day thousands of people sell their precious belongings, watches, wedding rings and other jewelry. I felt sad and uncomfortable as I watch people push their memories across the counter.
In desperation, Argentines have invented their own currency, called a "credito," which is nothing more than a coupon printed up by a consumer group. It's sort of like play money and used to barter for goods and services. Change is often given in pencils.
At the "credito" market, Florentine and Molina are dependent upon one another. Florentine, the laid-off sales executive, sells some of her homemade baby clothes for 10 creditos. She keeps seven for her children, then walks across the market and gives three credito coupons to Molina, the computer analyst, for pizzas he makes at home and sells here. Then Molina goes to another table, where he trades some of his creditos for yeast to make more pizza dough.
