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

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
"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
 

SKing

Silver
Nov 22, 2007
3,750
183
63
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
 

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
It's still cheaper to live here than in the US by at least a fourth but thanks for the positive comments as usual. :)
 

Africaida

Gold
Jun 19, 2009
7,775
1,341
113
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)
 

Hillbilly

Moderator
Jan 1, 2002
18,948
514
113
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
 

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
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.
 

yanandu

Banned
Jan 23, 2011
472
9
0
Yes, Go for Gold, Euro, Pound., Yuan, Baht Dollar has only lost 7% this year so far; Peso a bit more.
Yanandu
 

DRob

Gold
Aug 15, 2007
8,234
594
113
"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.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
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
 

yanandu

Banned
Jan 23, 2011
472
9
0
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.
 

Chip

Platinum
Jul 25, 2007
16,772
429
0
Santiago
Grow food on the overpasses; fish farms perhaps.

Can we assume the fish farms would be started in the ponded water under the overpasses?

And you wonder why people think you are borderline loco? At least if you are trying to be funny help your case with a smiley face or something.
 

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
Talk About The Pot Calling The Kettle Black!

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.

I believe you have "US",(Freudian Mistake???) mixed up with YOU!
Isn't it "JOLLY OLD" where everyone is "ON THE DOLE"????????????

CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
AND,being ENGLISH,you completely missed the part where I said:graduates,"WHO WANT TO WORK H-A-R-D"can succeed!
Not talking about all the LAYABOUTS!
 
Last edited:

granca

Bronze
Aug 20, 2007
1,418
48
0
87
I would have thought that COLON should be written :::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::: and so on!
 
May 12, 2005
8,564
271
83
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.

Too many folks in college and not enough learning trades. Always work available for those who can work with their hands. More law school students than jobs available for them all.
 

SKing

Silver
Nov 22, 2007
3,750
183
63
Too many folks in college and not enough learning trades. Always work available for those who can work with their hands. More law school students than jobs available for them all.

Yup, I've been driven in a taxi by an "arquitecto" (spelling?), and knew a secretary that is an "ingeniera" (spelling again?)

SHALENA
 

Celt202

Gold
May 22, 2004
9,099
944
113
Too many folks in college and not enough learning trades. Always work available for those who can work with their hands. More law school students than jobs available for them all.

BS bullshyt
MS more shyt
PhD piled high and deep

There are PhD's driving taxis. :speechles
 

SKing

Silver
Nov 22, 2007
3,750
183
63
I was talking about here in the US vis a vi Yandoodoo's post.

Oh, sorry. Well I try to teach my kids that you should study what you love but be realistic in whether or not it will pay the bills. Find something that does both. One thing about Nursing (in the US), even when the sh*t hits the fan, we still got work.

SHALENA