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Thread: "LOOK OUT!" DR1ers,""IT's" Coming! What's Ahead In The 12 Months???????

  1. #1
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    Lightbulb "LOOK OUT!" DR1ers,""IT's" Coming! What's Ahead In The 12 Months???????

    In this posters "humble" opinion,"Look Out!"
    Several key factors are in play to wreak havoc on the DR economy.
    Number 1,is the way the PLD is borrowing,AND then wasting, HUGE sums of money.
    According to today's"Diario Libre","Leonel" has increased the DR's international debt,"Deuda External" by over 21% in the last 12 months! 21%!
    This debt must be repaid in US dollars. As the value of the DR peso falls against the US dollar,the external debt rises,even with no additional borrowing.
    As history shows us,the Governments 0f the DR,not important which Party holds the reigns,have an thirst for borrowing!"Jepettas",and beach houses don't come cheap.
    For example,the DR just borrowed over 428 billion pesos,that's pesos with a "B".That's well over a "B"illion US dollars,to "begin" to pay for phase 2 of the "METRO"
    Which brings us to THE METRO!
    To paraphrase Sir Winston Churchill,(A HERO To Me!)"Never have so many paid so much,for so few".
    Don't they have ANY idea how many schools they could have built for 428 billion pesos?
    Instead,a few thousand people a day ride an "Underground"!
    Inflation in the DR rose 14 % over the last 24 months,(Again,today's Diario Libre)that at a time when the World wide recession has most countries at about 1 to 2 %,or negative.WHY,Spend,Spend,Spend,so they can Steal,Steal.Steal!
    The way things loook now,"Papa" will "LLego" in just over 1 year.What wiil THAT do to the pesos exchange rate against the US dollar?Well,last time "Papa" was in the driver's seat,I changed $5,000 US at 56 to 1!
    Leonel is fighting hard to keep the rate artificially low,WHY? because all the DR's debt is paid back in US dollars.The DR will not be able to meet it's current obligations! The debt will have to be "Renegotiated" with the "IMF","World Bank",and all the other international banks to keep from defaulting.All those "so called" lending bodies,are just as much to blame for what has happened to the economy here,and what will keep happening,as the DR!
    My suggestion? All of you who have income in US dollars,or maybe even better,"Euros",SAVE THEM!!!They might be wort more than twice as much against the peso as they are today,within a year after "Papa" takes office! Even if "Danilo" wins,the DR faces insurmountable pressure to devalue the DR peso.
    There you have it.One man's look into the "Crystal Ball" of the DR's economy!
    Read It And Weep"!!! UNLESS,you have some hard currency to take full personal advantage of the coming"Collapse"!
    Cris Colon
    CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

  2. #2
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    I do not know much about politics or money issues but I am saving all that I can. I will be waiting for the devaluation of the peso.....

    SHALENA

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  4. #3
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    It's still cheaper to live here than in the US by at least a fourth but thanks for the positive comments as usual.

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  6. #4
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    Don't know much about politics and money either.

    But I would think that the devaluation of peso would be catastrophic for the unfortunates that don't have a dollars or Euro account right (let s not get into those that even don't have an account), right?

    Cool, my vacations in the DR will come out even cheaper, I am waiting anxiously (sarcasm)

  7. #5
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    the figures on the Metro were off by a factor of about 1o, or were they??? My math is not that good but I think I have read 28 billion DOP for Metro 2.

    However, no matter, I totally agree with your take on this...When I say that 21% hike in foreign debt I cringed at the implications.

    I cant wait for PICHARDO's spin on this one!!

    HB

    Moderator DR1.com

  8. #6
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    What most foreigners can't get a grip on is the "pendejismo". While we lambaste corruption and the taking advantage of one's position to rob the public coffers to by far the majority of Dominican politicians they are considered weak (pendejos) if they don't. Pichardo has said this on numerous occasions. There is an underlying moral support of this thinking that is manifested in politicians robbing the people blind just like the underlying moral support of drug use in the US and we can see where that has gotten us. A good lesson for those who are "progressive", ie who believe morals and such are archaic manipulative tools of religions and thus are not relevant today.

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    Yes, Go for Gold, Euro, Pound., Yuan, Baht Dollar has only lost 7% this year so far; Peso a bit more.
    Yanandu

  10. #8
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    "Perhaps" Criss "Colon" can "make" a "living" in the "'D' 'R'" by selling "surplus" colons and "extra" "CCCCCs" once the "economy" collapses "yet" again.

    Agreed with Hillbilly, you added an extra "0" in your calculation, but Leonel has had the right idea in constructing overpasses and mass transit. You simply can't move a major city forward if it takes two hours to get from one side to the other outside of rush hour. Further, gas isn't going to suddenly get a lot cheaper. As more economical transportation options come online, I'm sure they'll be very well received.

    Leonel isn't trying to make life more comfy for a senior expat who loves to talk about gubmint waste and rail against taxes. He's been trying to position DR to enter the 21st century, and doing well with limited resources.

    Most cities stateside that don't have viable mass transit options are increasingly seeing the error of their ways. Glad DR is trying to do better.

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  12. #9
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    Make that 42"point"8 billion pesos!42.8
    Most countries have an education system that allows graduates who want to work hard a chance to succeed.That is not the case here!
    I say give your people a good education,NOT a METRO that benefits a few riders,and LOTS of corrupt politicians!
    The overpasses have been a HUGE success!Lots more 'Bang-for-the-Buck"!

    Why do you think my name is"COLON"?CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC

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  14. #10
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    Most countries have an education system that allows graduates who want to work hard a chance to succeed

    Most countries don't.
    Even in US there is massive number of graduates live on food stamps.
    Grow food on the overpasses; fish farms perhaps.
    Yanandu.

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