I see the euro fell below the dollar today for the first time in 20+ years.
I would like to hear from Europeans who came here to live or vacation & how they expect it to affect them - and this on top of the already out of control inflation
Dollar and Euro both are contantly loosing value against goods and services like bananas, drugs and nursing.
For the moment the Euro is loosing its value faster.
It affects me in that I have to send a lot more Euros in order to support my loved ones at the same level.
Especially for treatment of falsemica, which requires regular blood transfusion and medication for which the price in pesos went up a lot.
I expect and am reasonable sure about a total meltdown of economy and purchasing power of both the USA and Europe.
Airline tickets will rise, maybe double or tripple this and next year up to the point that airlines will cancel flight routes.
Products imported from China like Smartphones and all other will get more expensive.
Great depression like 1929 ahead.
For the DR it means a collapse of the tourist and construction industrie. For this reason I think the planned destruction of the Sosua beach is not going to happen.
In short: total desaster ahead, but this is business as usual in the DR.
The DR is a good place to be in this interesting times.
Interesting times brings me to China.
I like to open a bank account with the Chinese currency with a UnionPay credit card.
In the long run;
Renminbi will replace Dollar and Euro.
AliExpress will replace Amazon.
Tourists from China and Russia will replace north americans and europeans,
Alexander