Global financial scene

ben oregon

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why some dominicans think that their country is the only one on the planet not following a deep recession?
Money talk! nobody knows what cind of bad assets that the DR financial institutions are holding so how could you speculate on DR's financial troubles with out those crucial data?
the DR governement is doing a very good job keeping a clean face ,it's a matter of time before the flod gate bust ,and the landing will be very hard on the country?China manipulated it's economy/curency for so long"by the double digits) till now ,and boom!!!! now their whole social systeme risk to fail .when you are surrounded by catastrophy ,you'll get contaminated sooner or latter!
Be VERY COSIOUS ABOUT THE LATE STATEMENTS OF THE BANKING SYSTEME, IT'S FAR FROM THE THRUE!
you can manipulate statistis number in any direction that fit one purpose ?"no offense to the patriots"
Yes the DR has billions of $$ projects on the table ,who doesn't? i'll beleieve any of those project after they'll be finish? how many big project get cancelld or destroy half way thru accomplishment?
Ps: i am not an economist ,just logical observer and investor! so take those toughts with some reserve? and be cind ha!ha!
 

MikeFisher

The Fisherman/Weather Mod
Feb 28, 2006
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my french isn't existing, so while understanding phrases i can not hold up with you guys for a conversation in that language.
David, contract renewed.
Pichardo, now the imaginary meaning of the first post get's clearer because you provided important details to the Ban aso.
i have no problem to see the mafia styled syndicates die, i never liked them, i am even with my own business not a member of the sportfishing syndicates over here, they are in my eyes just an instrument to hinder a real open market by mafia styled behaviors, so on that point we agree.
the market needs to be open for freely/independent operating and service providing or manufactoring businesses.
a good example is the little turism sector where touroperators have some little unwritten monopol on selling any kind of excursions at the resort properties, for such they get 35-over50% of comissions, which lifts the rates for customers a lot while the outfitters who run the sold excursions are struggling and have a hard time to improve their provided services to a higher level because from the big bucks only a small share reaches them and from that they have to cover 100% of the involved costs.
for that reason i am not organized in any klind of syndicate or such, i sell much less quantity than others, but for the same and even cheaper rates to the customer i can provide a much higher service level.
i think the basics of such can be compared to other kind of businesses with a syndicate involved, like the mentioned transportation mafias.
to use recycable fuels for public transportations shoul;d always be the first step when a country likes to enter a new market/start a new way, which is a good one.
i do not think a Ban is needed r helpful on such.
the gubmin should just start to bring out a deadline with a day and year set by law from when on all public transportations have to be done by vehicles which use alternative fuels. the next step would be to start such a time period for all other commercial passenger transportations(like all cabbies and turist busses for airport or excursions transfers aso).
on each a effordable mid term time needs to be set, it would not result positive to pressure the existing businesses with short term law changes, they need to plan for such, i.e. they need to purchase brand new vehicles for their whole fleets, brand new because still not existing here and for that not available used, they need to get rid of their today existing old vehicles which will be hard or impossible to sell, because they could not be used anymore by any comercial company and would anyways be highly taxed by the new laws, so uneffordable for private persons, anyways one of the big points is to bring the public away from private driving and towards the use of more economic public transportations.
the fotoshop pictures above look good, like the Trump Tower in Cap Cana i saw a while ago, like the of natural materials made luxury oceanfront villas i saw on such fotoshop images from the Westin RocoKi in Macao, like the images created by fotoshopping programs about the "Boulevard del Este", the highway which should since a while connect the whole east coast area (the few finished lanes are today at the point where they would need the first reparations due to horribly bad quality).
they all been ideas, each looked great on the computer created images.
as a matter of fact a ride from the punta cana airport the few miles up to those huge hotels/resorts in Uvero Alto takes still 1hr15minutes one way(on a road in just average condition, not even a highway needed, such would take 40 minutes or less on a smooth speed) due to leak of roads, and the existing lil ones are in dangerously life threatening conditions, damaging vehicles 20 times faster than a usual road would make a vehicles maintenance neccessary.
at the Westin the work to build that top notch Marina did til today not even start, originally been sheduled to be finished by now.
when cruising along our east coast passing in front of the huge Cap Cana property there's no high building which would hurt in the eyes to be seen, i am not sorry that there's no ugly high Trump Tower on that little hill, would be a visual shame for the beautiful beach area of Juanillio, like skyscrapers are in my opinion a visual trash on any oceanfront.
such ugly constructions we have in europe and the US at many places on the oceanfront, it would make me sad to see our natures beauty killed by such constructions over here on the Dominican Republic's beautiful oceanfront areas.
Mike
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
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Since baninter and others, the DR's financial sector imposed the "suggested" safety mechanisms offered under the FMI and WB alike.
Today this is what gave the DR's financial system the solid ground other 1st world countries don't.
Among the many, banks are forbidden to issue any type of loan or general backdrop to stock holders/principals alike. No inter-bank dealings w/o first passing muster with a non-Dominican overseer can be done as well.

Many other mechanisms were put in place as well. Many!

Once the LA countries work out a full trade/political body entity, the actual crisis will be dampened a whole lot. Trade within our own markets and geography can sustain all the LA countries w/o any need of the NA market or the EU as well.

Once a localize solution is employed by all LA members, things will be even better to the regional LA market. The DR has proven to be a leader in multiple fronts to this end.

We may be tiny but our economy is solid internally, unlike other markets.

2008 came and went and yet you still need extra time for the crisis to engulf the economy of tiny DR???!!! Two things provided us with a real look into our internal economy's strength:

#1 - The price of oil reached records within record time and still the DR remained stable with the huge increase in all fronts.

#2 - Trade to traditional markets almost came crashing down in our faces, yet new non-traditional ones opened up just as quickly and continue to escalate new levels each passing quarter.

Can you say the same for other economies around the world and in 1st world economies as proven day to day?

We learned our limits and needs to better prepare for a long process to recovery of our failing traditional markets. Also our internal energy policy self imploded under the pressure of an unsustainable subsidy, which can't be prolonged any more than a day after we're able to dismantle it.

Believe in this tiny nation, for it will persevere under the bad weather as always!
 

MikeFisher

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Feb 28, 2006
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rereading my post i realized that i did not finish a point on the transportation theme.
it is not that easy and simple to switch private transportation towards alternative fuels, because in the dominican republic many 'private' vehicles are in "half commercial" use to feed a big part of the country's population.
look on the stoneage ole pickup trucks collecting and delivering the agricultural products on the island.
those people are often stuck on the street with a flat and need to find somebody who lents them some pesos before they are able to purchase the needed tyre to go on with their duty to feed the family at home.
i can not imagine how they could efford a brand new alternative fueled vehicle, i could neither imagine what bank would give them effordable conditions of financing such and i have no clue how the gubmin will produce the need money and logistics to feed them when out of duty.
the sindicos vehicles(at least over here in the province altagracia, i can not speak for other parts of the Isle) i.e. the little trucks collecting the trash in the pueblo are some of the worst and most damaged vehicles on our roads, but before pressuring hard working people under a cold uncoming wind of change those public/gubmin vehicles should be the example to show the public what has to be done.
Mike
 
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MikeFisher

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here is a point of huge agreement from my side.
the LA countries need a strong union and cut down taxes for import/export between them. the LA market as a whole region holds all what is needed for everything, the petroleum and the alimentations.
prices for daily goods stayed relatively stable during the petroleum record highs, but now that the petroleum is passing record lows nothing is going to be cheaper, many things are more expensive. ask the working public about the fares they pay as 'passage' to reach their daily duty, they are today with the petroleum down on the highest level in history, milk at the supermarkets never been more expensive than today, aso aso.
transportation cost skyrocketed when the gasoline been on it's 200 pesos per gallon, around 60% more expensive than today, but today's transportation rates are still on the top top rate of transport history. at least here on the east. the same for cabbies than for the public busses.
a LA real union could help each others a lot to jump forward, but hard to get some of the keyplayers together on one table for more than shaking hands and exchanging promises for the public.
i hope they do positive progress on such,
but it would not make LA fully independent from the northamerican or european market, such would anyways not be wise, the unstability of many LA key countries would be a too high risk factor while isolated towards other markets.
like in all buying/selling businesses it is always wise and recommendable to mix the different sources/markets, if one passes a down period an other may pare the losses by an up period.
the right mixture will be the key.
Mike
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
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rereading my post i realized that i did not finish a point on the transportation theme.
it is not that easy and simple to switch private transportation towards alternative fuels, because in the dominican republic many 'private' vehicles are in "half commercial" use to feed a big part of the country's population.
look on the stoneage ole pickup trucks collecting and delivering the agricultural products on the island.
those people are often stuck on the street with a flat and need to find somebody who lents them some pesos before they are able to purchase the needed tyre to go on with their duty to feed the family at home.
i can not imagine how they could efford a brand new alternative fueled vehicle, i could neither imagine what bank would give them effordable conditions of financing such and i have no clue how the gubmin will produce the need money and logistics to feed them when out of duty.
the sindicos vehicles(at least over here in the province altagracia, i can not speak for other parts of the Isle) i.e. the little trucks collecting the trash in the pueblo are some of the worst and most damaged vehicles on our roads, but before pressuring hard working people under a cold uncoming wind of change those public/gubmin vehicles should be the example to show the public what has to be done.
Mike

LOL!!! Those same old, beaten rust drums will be the raw materials on initial stages to the DR's plan to manufacture our own public transportation buses and the likes.

The gov will use (as I said before) the CB to guarantee the low interests loans private financial institutions will be able to offer the citizens, via third party that will keep scams at bay.

Also, the Bolsa de Valores will provide the much needed cash infusion to our small, mid and large biz that participate in the capitalization program being rolled out. They'll be able to secure funds, without interest payments, but share of revenues with stock holders. That's something that our internal economics needed long ago, in order to compete in the global market as well.

Our Bolsa de Valores will have stricter rules and transparency than the US or other major 1st world countries alike.

We'll bring our internal biz to par to compete worldwide not just in the local market of the DR...

Manufacturing a bus is not too hard or complex, in fact the only part that we won't produce here (yet, until the technological park evolves as expected) will be the chips that run the microprocessors of the systems. Everything else is not that hard to build for a public transportation system like buses.

If you think it would be like learning on R&D, nope! We'll buy the rights to produce certain technologies ourselves available all over the place. They don't have to be the best buses out there, but in equal footing to the vast majority in the market. If we're able to pull it off, we can then plan to export the buses to other markets as well... (a long, long, long in the future plan)...

The smart guns are already beig sold in the market; we'll just be ordering ours to our country's specs and security gimmicks. Nothing hard, in fact so simple we could have a shipload in our port within months...

New education system? Teachers already under training overseas... Microsoft working already in the DR to that aim...

Metro? Able to cover for its own operating expenses and then some! As PLANNED! Just as soon as a stable flow of riders is achieved and other lines are added to the system.

The problem with resources in the DR is that our rural population in previously thin populated regions, exploded with the incoming rows of Haitians looking to escape the famine back home. Some towns in the border area grew by as much as 700% in some instances!!!! Providing IDs to Haitian is going to allow us to restrict the inflow of those that could tax our resources to the very breaking point in many of those places.

If you ever tried to hold a conversation with Dominicans with the topic being Haitians, you would understand why it's a problem that takes time to smooth out the kinks... The result is inevitable but manageable until full integration...
 

J D Sauser

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Nov 20, 2004
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Progress, economy, vs. monuments, landmarks, projects

How many poor people have you seen holding (privando), not just a cell but, but an expensive cell phone? Many!
But then, they are still considered poor, because cell phone or not, that's what they are. Actually, the expensive cell phone, together with some worthless (low quality) but over priced clothing, defines poor people.

At the end of all days, it's not what you have which defines you, but what you do.

The same holds true for countries. And not to a lesser extent.

Having a Wallmart, an IKEA, a new amusement park in the Capital or a new luxury development here and there for the very few rich locals and some foreigners passing by for 3 years or so and even worse, setting up a few new landmarks or "projectos modelos" so typical for struggling countries, is not synonymous with having even the now sick an frail General Motors or some other other industry supplying National demand first, creating new (supplying and supporting) industries and thus creating not only offer but a real economy. Furthermore, I don't think we really need to discuss the inadequacy of comparing the automobile market in Japan with the DR's car market.

The creation of big, very visible buildings, some useful and other not so, which includes megalomaniac "monuments" is nothing new to this country just as most "developing" (struggling) countries, now and in the past.
Some of the remains of these "projectos modelos" and how else they were called can still be seen, mostly around capitals and large cities. Others have just faded away in ruins even when they are less than a decade old, while Roman buildings still stand in Europe.
What I am trying to say is, if all these projects, buildings and monuments would really be synonymous or having furthered a healthy blossoming economy and progress, why did they not 10, 20 30, 50 or 60 years ago?

I am not saying it's ALL bad, but history seems to indicate that it's not the ticket to prosperity.

It is my opinion, based on what I have seen abroad, even in countries which have been virtually set back to square one after either WWI and WWII or both, that it is broad quality EDUCATION of ALL social levels first and a healthy industry supplying it self and the Nation second which seems to be the foundation for a blossoming country's economy. Services come after a certain level of prosperity has been reached ACROSS the majority of people of all social levels.

The DR, I am deeply sorry to say, is failing hugely at the first step: Broad quality EDUCATION of ALL social levels. Industry? We have cheap "work force" but it lacks education. Actually most of the upper class, while it does not know it, lacks it too to a certain degree, or they would see to it that the rest gets a quality education (which goes to show that at the end, the dog keeps on spinning, biting it's own tail). So, the industry... we import so many things which in other countries are either made there or at least partly (assembled). It would seem that there have always been "great" ideas about "export"... and that seems to have failed in quite too many sectors, because of the lack of educated workforce at all levels, because we have too little industry satisfying local demand first before trying to compete with the heavy weights and because... importing (commerce) is so mucho mas comodo. So now, for every one Dollar that comes in, we virtually have the need to export two.
How this can lead to financial havoc... well, check out some bizarre aspects of the US economy... and they, when compared to this country here, still have, hum... quite an economy.

So again, trying to pull up the appearance of a "developed" country boasting this and that here and there, will doom these very "this and thats" to meet the same faith past landmark buildings, projectos modelos and monuments have or are.

Coming back to my to my comparative remarks at the top of this post, barrio kids will tell you that if the will hit it big some day (me consigo unos qualtos de los grandes), they'd buy a new fancy cell phone every week, and Hummer to go with it. I tell them, that if they'd ever MAKE that money, they probably wouldn't anymore because they would not want to be poor again.
Prosperous countries, incidentally, don't pull up many projectos modelos.
They don't need to anymore, even when THEY would be the ones able to affoard them.


... J-D.
 

MikeFisher

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Pichardo
so now we are back on a 150% disagreement.
that's just fabulous wishful irreal thinking.
those rural areas are not that small part of the population,
and even if, will you just let them starve to dead or what are the plans for them?
btw a huge crowd of the poor in the mayor cities, specially in the Capital, are part of them. nothing to eat in the rural areas, so they come to the cities where they end up on the streets because nothing there could feed them and no gubmin cares about them or what they are doing.
get your smart gun shipped in and bring it home while using the Metro.
today a drive on the road has the advantage to give a chance to stop at a frutera and bring home some fresh fruits.
such will anyways not be available anymore 'cause the rural areas are without transportation to bring the freshies down, unless the new Metro connecting the china plantations around hato mayor with the better populated areas so the farmers can deliver their products on that selfpaying railroad.
i hope somebody else will bring in some ideas or opinions.
Mike
 
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A.Hidalgo

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Apr 28, 2006
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i hope somebody else will bring in some ideas or opinions.
Mike

I think you, JD Sauser and others have done a nice job in that front already. All I have to say is Pichardo* is in my ignore list. I can honestly say that my mental well being has been enhanced.;)


*primo nothing personal against you.
 

Lambada

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How many poor people have you seen holding (privando), not just a cell but, but an expensive cell phone? Many!
But then, they are still considered poor, because cell phone or not, that's what they are. Actually, the expensive cell phone, together with some worthless (low quality) but over priced clothing, defines poor people.

This reminds me so much of the arrival of the Spaniards in DR, giving flashy mirrors and beads and raping the country of precious mineral deposits, gold. Only now it is not the colonialist oppressors doing this but the Dominican politico pillagers, robbing their people of a decent education and replacing it with flashy consumerism as a value to be emulated.

I noticed the difference in Pichardo's posts on the missionaries thread - when speaking from the heart, even if you don't agree with his viewpoint, he is really worth listening to. As soon as the spin raises it's head, it's as if it was a different person posting.

But no amount of spin will alter the fact that the DR is facing tough times ahead. And fortunately there are some articles in papers which recognise this:
Crisis mundial golpea RD :: Portada :: Periodico Primicias
 

J D Sauser

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Thanks for the flattering comments.
About Don Picardo, well... actually, like with most here, I have yet not had the pleasure to meet Sr. Picardo. But based on what he has posted here and in the past, he would be on my list of people I would certainly go and meet, even though we certainly seem not always to share the same opinion(s) and view(s). However, I have not yet seen him ever to be anyway less than a Gentleman when he defended his opinions against mine or, as far I could see, most anybody else.
I value his posts quite a great deal, even when so many times I can't agree. But he sheds here in a very eloquent, readable and educated manner a certain insight into how certain (no all of them, of course) local people may see this country, it's problems, issues and potential solution.
To me it's essential reading, even if at times it can seen somewhat tainted by partisan ideals. But then, for the last 8 or so years, partisan ideals have seen themselves raised to be called a par with patriotism in some not so far away country. So, given that a large part of the local population has favored these ideals with their vote not too long ago, I give it at least the benefit of doubt.

I see it every day which goes by, that I and probably many of the expats look at the world in a different way than our locals. Our experience is completely different, have we not only not been born in this country, on an island, but traveled to it, many maybe just as me, after having lived in other corners of this planet. We compare with other measures. But at the end, this is the DR and this country will have to face life and the future acting on it's people's way to see things... and some, do indeed see it as Sr. Picardo puts it... others can't afford to... and that's what we are trying to discuss.

Thanks! ... J-D.
 

MikeFisher

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completely right.
and no problem in case of manners when discussing from Pichardo's side, i know they are much better than mine.
i would prefer like always a direct discussion instead of written words, but heck, living in the PC area does sorrily not provide much opportunities for such.
hey fellow PC expats, that's not meant as a offense, but you all know that over here most people go their own way, meets for a good discussion are rare stuff.
of course somebody who travelled a lot to very different countries on the planet has a different point of view about things than a person born and raised and still living in the one and til now only country. the watching of daily news are no replacement for lifetime experience/education with different cutures, different gubmin systems aso. and that not been meant to Pichardo, i know that he is not a single country person, i meant that global/in general.
and exactly those differences in the point of view and experience of such different persons/of us, they make such discussions interesting, without the controversies we would just read a original post and below 100 posts "i agree to that".
let's go on and i even promise to behave my bad manners.
\o.k., maybe that last sentence been written by my other "Me"/
Mike
 

PICHARDO

One Dominican at a time, please!
May 15, 2003
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LOL!!! This is the kind of stuff that irks the hell out of posters like A.Hidalgo:

l_6fb8a288412843cebc3e1995b523830a.jpg


Just a glimpse of what's to come to the DR... Economic crisis and all, while going belly up!
 
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MikeFisher

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that coastline aside the computer foto looks like the south western coast, am i right?
i hope they build such, IF they build it, near the capital city, such industry parks should not be build along our beautiful coastlines, or fututr postcard pictures for our presentation would need to be fotoshopped to cut out huge buildings near the beaches.
not to get me wrong, the island needs any kind of industry or technologie park it can get when ready to operate such, but please don't build the huge stuff on our beautiful coastlines.
most oceanfront countries on the globe made the mistake to pull up skyscrapers and such right on the oceanfront, looking on such in spain, italy, the US aso makes me sad.
let's keep our exceptional beautiful island beautiful. we have enough backland to build industry parks, and they are not really far to get roadwise connected with the big ports like the one in st domingo.
happy Duarte Day everybody
Mike
 

J D Sauser

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Fsc?

Fernandel... erm sorry, Fernadez Space Center?

Or is it the head offices of the company which planes to compete Micro Soft with their new OS called "Mega So Bentanas Bista Do"?

Jest joking... I love the architecture, except maybe for that crooked stick thingy in the foreground.

Would be interesting to see a more realistic render with all the little wooden barrio shot gun shacks with zinc roofs and old "Plan renove" wrecks scattered around it! Or are those people to be moved in those facilities? :bunny:

... J-D
 
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"This is the kind of stuff that irks the hell out of posters like A.Hidalgo:"
Pichardo

"and exactly those differences in the point of view and experience of such different persons/of us, they make such discussions interesting, without the controversies we would just read a original post and below 100 posts "i agree to that".
let's go on and i even promise to behave my bad manners."

MikeFisher

"I value his posts quite a great deal, even when so many times I can't agree. But he sheds here in a very eloquent, readable and educated manner a certain insight into how certain (no all of them, of course) local people may see this country, it's problems, issues and potential solution."
JDSauser

'The era of good stealings' was the term applied to Grant administration of 1868-1877. The reason was that there was no opposition, no one to fight the power. That made it very easy for corruption to become established; Too much good-will.

Perhaps it would do us well to remember that it is possible to become too friendly, and have too much good feeling toward the opposition.

It is the open and honest debate and oppositional push and shove that enlightens people and makes them vigilant against corruption, not the good-old boy get-together love-fest of similar ideas.

I too enjoy reading many of Pichardo's posts, and I find him to be relatively well-spoken and somewhat erudite.

However, let's keep in mind he is almost always wrong in his opinions. His swordsmanship is more than questionable, as well.

It is important not to get too close or too friendly with the enemy. That could blur one's vision, and it might allow our independence to be too easily compromised.

I much prefer the role of a cautiously respectful resistance fighter.
 

Malibook

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However, let's keep in mind he is almost always wrong in his opinions. His swordsmanship is more than questionable, as well.
:p:D:cheeky:

It seems to me that Pichardo and Nals have a problem keeping things in perspective and accepting things simply for what they are.

They seem to view anything even remotely negative as a prediction or claim of economic collapse.
Just like anything remotely positive seems to be an indication of an extremely powerful booming economy.

Perhaps somewhat negative news and somewhat positive news is simply just that and not an all-encompassing broad indicator.:ermm: