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  1. #1
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    Default Peso Devaluation.........

    Been reading lately about the devaluation of the peso. This is all starting to look very shaky to me...like possibly setting up to be another Argentina, Venazuela, Uruaguay. Does anyone have a good understanding of the current state of D.R. finances, will remain stable, or eventually spin out of control?

    Looks like the gov. is really in debt this time and incomes are decreasing.

  2. #2
    DR1
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    Default

    Letting the peso devaluate is a way to let off the steam and avoid a situation like Argentina. One of the problems in Argentina is that the US$ was the currency. The Dominican economy is still a far way from being another Argentina.

  3. #3
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    Talking DR money problems/I know I will offend

    If the DR goes on a tailspin is not going to happen because of the worldwide situation, S11 or oil. Where we may have a problem is with the present administration under the PRD party. This group has a terrible history handling the economy of this country. We almost turned into an Argentina in the 80s due to the "blancos"

    Hipolito Mejia is the equivalent of former President Bucharam and is sorrounded by a circle of corruption. It is no wonder our rating as the 59th. most corrupted country in the world.

    Yet, I have said time and time again that we are blessed by a few things that otherwise are considered economic sins. Our most important industry is the "underworld". DR is now one of the most important bridges to drug trafficking in this hemisphere and in conjunction with the drug-state of Haiti side by side, drug money will continue to flow into DR. Lots of it!!!

    Our baseball players send US$100,000,000 a year to DR. Due to our poverty, our young athletes in baseball continue to increase. More future big-leaguers are born everyday. We are now invading the basketball area. Our players are ghetto boys who love nothing more than show up their local friends and neighbors, and they will die to bring their dollars here to show off their fancy cars, big mansions and fancy women. Its is true Dominican machismo at its best. It will only get better. Take for instance Sammy Sosa, a former shoe shine boy who even as a first year player wore slicky long curls and metal pointed shoes, gold chains and loafers without socks at dinner parties. He built a $US4 million mansion at Anacaona Avenue, has several Ferraris, Mercedes, Dodge Vipers and other fancy cars, spends $US30,000 just in his daughters education at a fancy school in DR, and on and on. This is typical of DR players. Alex Rodriguez has left some of his $256 million contract money here too.

    We have a flourishing money-laudering industry, perhaps the biggest in Latin America. Money continues to flow. It is well known that the government protects big time money launderers that are sought by the FBI and the DEA(know anybody who cannot take international flights out of the DR lately for fear of getting snapped?)

    We have the biggest network of prostitution(both male and female) in the Caribbean and Latin America. Our boys and girls are the most sought after commodity. We are very sexy indeed. Most international prostitution money flows into DR in dollars.

    Our other two major industries, tourism and free trade zones may be hurting, but they are still alive. Our beaches are still there and our weather is great.

    Even Hipolito and his wreckless bunch will not be able to turn us into another Argentina. We are just too cocky, ambitious and pretentious, and must show off even if we have to work our asses off.

    Beer and alcohol sales will not stop. Gambling is a booming industry. All sins produce money. This is a sinful community.
    And a fun one at that.

    TW

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