"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
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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
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