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  1. #1
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    Default How will the coming financial depression affect expats in DR?

    There is a financial storm on the horizon that rivals the 1929 Great Depression.

    Are people concerned about staying in this country in the case that credit card

    systems are shut down, or worse, if the USD is not accepted?

  2. #2
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    Do you have a link on this?

    Super Moderator
    DR1.com

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  4. #3
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    In his head (see generally "Chicken Little" economics).
    Last edited by DRob; 01-08-2016 at 12:55 PM.

  5. #4
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    If and when the USD is not accepted,you better stock up on beans,rice, and alcohol. Those will be the only commodities that have any value.

  6. #5
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    Quote Originally Posted by Bronxboy View Post
    Do you have a link on this?
    George Soros the far left billionaire has made such a call.

    He is the same guy that brought the British Pound to its knees years ago.

    He makes big bets and tries to move the market his way.

    http://www.bloomberg.com/news/articl...rge-soros-says


    Respectfully,
    Playacaribe2

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  8. #6
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    Quote Originally Posted by businessdr View Post
    There is a financial storm on the horizon that rivals the 1929 Great Depression.

    Are people concerned about staying in this country in the case that credit card

    systems are shut down, or worse, if the USD is not accepted?
    Does this mean you're giving up your gym membership?

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  10. #7
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    This has been gonna happen since about 1970, I wouldn't worry since I am almost 70 I do not expect it to happen ebfore I have gone to my reward! Ashhard as GW Bush tried he could not do it. Remember the 'W will weaken the federal govt so bad we can drown it in the bath tub?"

  11. #8
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    Quote Originally Posted by playacaribe2 View Post
    George Soros the far left billionaire has made such a call.

    He is the same guy that brought the British Pound to its knees years ago.

    He makes big bets and tries to move the market his way.

    http://www.bloomberg.com/news/articl...rge-soros-says


    Respectfully,
    Playacaribe2
    Well, 2008 wasn't 1929.

    Much of what caused 2008 (endlessly repackaged CDOs and excessive financial insurance claims) has been eliminated from most larger banks' financials. While AIG remains too big to fail, which is worrisome, the macro-issues now are largely external (engineered collapse of oil, conversion of Chinese economy to consumer-based, more turmoil than usual in the Middle East, etc.)

    That said, my biz interests focus more on real estate, so I'll leave it to you and Gorgon to tell me when the world is coming to an end, lol.
    Last edited by DRob; 01-08-2016 at 01:27 PM.

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  13. #9
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    Quote Originally Posted by DRob View Post
    Well, 2008 wasn't 1929.

    Much of what caused 2008 (endlessly repackaged CDOs and excessive financial insurance claims) has been eliminated from most larger banks' financials. While AIG remains too big to fail, which is worrisome, the macro-issues now are largely external (engineered collapse of oil, conversion of Chinese economy to consumer-based, etc.)

    That said, my biz interests focus more on real estate, so I'll leave it to you and Gorgon to tell me when the world is coming to an end, lol.
    if you will have noticed, i am the guy who has been upbeat about the economy of late. it is playacaribe who told us in his last observations that a debt to GDP ratio of over 100% is going to sink the US economy. he just never explained why.

  14. #10
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    Quote Originally Posted by the gorgon View Post
    if you will have noticed, i am the guy who has been upbeat about the economy of late. it is playacaribe who told us in his last observations that a debt to GDP ratio of over 100% is going to sink the US economy. he just never explained why.
    Just to clarify....no where did I say that the current over 100% debt to GDP would sink the economy. What I said was the current debt to GDP would unduly burden future generations with debt...unless we get resulting growth to overtake the rate of debt being added.

    But if this unchecked spending continues without growth...it will surely sink this economy and others around it. You cannot borrow and spend into oblivion...without the growth necessary to reduce debt to GDP......and we are not yet reducing debt.

    What I also said was, debt is not bad......it is the inability to pay it back that creates the problem.

    If Soros is correct, it won't matter much what country you are in. The effects will be felt everywhere in all but subsistence economies.

    And Soros is wrong.

    Respectfully,
    Playacaribe2
    Last edited by playacaribe2; 01-08-2016 at 02:01 PM.

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