Recession of 2008 and impact on the DR

El Rey de Mangu

"Everybody's a gangster..."
Sep 22, 2009
2,128
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Most homes with internal bathrooms were build using a septic tank.

So many wanted to avoid having the septic cleaned more often due to excessive toilet paper overflow. It wasn’t because of the pipe diameter much (some yes) and more about saving a buck and the stink for days from the septic’s lid removal.

The lombrices could eat all the feces but not the paper for some reason (taste? 😂).

The latrines just got moved somewhere else behind the house once full...
A for imagery Pichardo!
 
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Onions/Carrots

Well-known member
Jan 3, 2003
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I have lived here for over 12 years, married into a large Dominican family, have done business here for years, travel the country far more than most, and pay close attention.
You are more of a Dominican than I am. I am by blood but have come to detest the DR. I find it a country with no resolve to exterminate the criminals, the gangs, the murderers.

There is no order and discipline at present. My only hope are the hard core Truj.....tas and Balagueristas in New York City who swear they will rebuild the Old Republic into a bastion of ORDER and DISCIPLINE.

At present, with the PLD routing Ramfis I see no hope of that unless Ramfis with the support of the military engage in a coup. I have asked them that many of us would support the destruction of democracy in the DR.

I am not alone in this desire but I see no ability on their part to do this and thus have abandoned any desire of going back to that moral cesspool of a nation.
 
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El Rey de Mangu

"Everybody's a gangster..."
Sep 22, 2009
2,128
878
113
You are more of a Dominican than I am. I am by blood but have come to detest the DR. I find it a country with no resolve to exterminate the criminals, the gangs, the murderers.

There is no order and discipline at present. My only hope are the hard core Truj.....tas and Balagueristas in New York City who swear they will rebuild the Old Republic into a bastion of ORDER and DISCIPLINE.

At present, with the PLD routing Ramfis I see no hope of that unless Ramfis with the support of the military engage in a coup. I have asked them that many of us would support the destruction of democracy in the DR.

I am not alone in this desire but I see no ability on their part to do this and thus have abandoned any desire of going back to that moral cesspool of a nation.
Ouch
 

cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,966
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You are more of a Dominican than I am. I am by blood but have come to detest the DR. I find it a country with no resolve to exterminate the criminals, the gangs, the murderers.

There is no order and discipline at present. My only hope are the hard core Truj.....tas and Balagueristas in New York City who swear they will rebuild the Old Republic into a bastion of ORDER and DISCIPLINE.

At present, with the PLD routing Ramfis I see no hope of that unless Ramfis with the support of the military engage in a coup. I have asked them that many of us would support the destruction of democracy in the DR.

I am not alone in this desire but I see no ability on their part to do this and thus have abandoned any desire of going back to that moral cesspool of a nation.
Many, many people feel the same way, O/C.

Unfortunately, the DR debt puts the country at the mercy of international banksters, like the IMF, and any move toward squashing the criminal element with an iron fist would be impossible.
 
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playacaribe2

Well-known member
Jan 9, 2004
9,020
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Like I said, give it until Dec 31st 2020 and we will see how things went quick
You must be expecting some sort of miracle then.................... let's hope it is not like the recent cross toss in Puerto Plata;


Those are some seriously concerning numbers.

December 31, 2020 is not that far away.

And please do not buy Dominican bonds.........unless you are trying to send your money to die.


Respectfully,
Playacaribe2
 
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pokerplayer

Member
Mar 22, 2020
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You must be expecting some sort of miracle then.................... let's hope it is not like the recent cross toss in Puerto Plata;


Those are some seriously concerning numbers.

December 31, 2020 is not that far away.

And please do not buy Dominican bonds.........unless you are trying to send your money to die.


Respectfully,
Playacaribe2
This is very good information. 5.6 percent growth is predicted in 2021 after a 3.5 percent drop this year. Hopefully the predicted rebound next year is correct.
 

playacaribe2

Well-known member
Jan 9, 2004
9,020
295
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This is very good information. 5.6 percent growth is predicted in 2021 after a 3.5 percent drop this year. Hopefully the predicted rebound next year is correct.
Certainly the information is good to know........but the anticipated results are in a word.......concerning.

The DR economy has grown at 6+% for years..............and they have budgeted and borrowed as though that 6+% would not only continue but actually rise.

Now we have a projected -3.5% for 2020 and a +5.6% in 2021. That translates to a 2 year growth rate of just over 1% per year. That cannot support the DR financially going forward without either new taxes or more borrowing or what is more likely............both.

This may not be the Baninter problem of 2003-2005 or the world financial crisis of 2008-2009...............but it definitely will continue to negatively affect the peso for some time to come.

Moral of the story............for the time being......................do not hold large amounts of pesos.


Respectfully,
Playacaribe2
 
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Onions/Carrots

Well-known member
Jan 3, 2003
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I largely agree, especially the Swedish model.

I'm just not sure that model applies to the DR and the culture.

Swedes aren't particularly touchy-feely and as gregarious as Dominicans, not to mention Dominicans live on top of each other.

And multiple-generation households are the rule here out of economic necessity, unlike Sweden. It would be nearly impossible to sequester the old and vulnerable.

Other than that, I'm all-in for herd immunity and think much of the economic damage in the hemisphere is unnecessary and self-inflicted.

How will the DR survive? That's the RD$3,500,000 question...
The DR is behaving as if it were a 1st world nation which it is not. The PLD may pay its government officials 1st world salaries but it is a 3rd world nation. Their containment efforts are worthless.

There is no health care system by comparison. The fact that Dominicans live on top of one another like ants is a plus. It will aid the coronavirus in quickly spreading throughout the population.

Absent a truly functional health care system, those who die from quick spread versus governmental lockdown measures will be the same. The duration differential is the only variable.

Therefore, a quick spread is much better to mitigate the economic carnage impacting the lower and middle classes at present. No income and limited to zero governmental assistance is creating severe pressures to these two groups as we speak.