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THE CURRENCY EXCHANGE RATE SUCKS ! ! !


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RogerDuMond

When I first visited the Philippines in 1966 the exchange rate was 3.9 pesos to the US dollar.

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A_Simple_Man

I will have incurred about a 35% increase in my cost-of-living here by the time that I have been here for 5 years.

 

That is one scary observation. I have tried to discuss the high inflation with expat friends here and the common response is the ostrich response. People just don't want to know that they may not be able to afford their current standard of living in 5 or 10 years and suggest I worry too much about things I cannot change. Hmmmm.

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Ok .... Now I have a new avatar that I hope is not demeaning to Asians, and is acceptable to all the members here that may feel offended by that mean old man, General Loan blowing the brains out of a captured VC on the streets of Saigon.

 

So, I now have a new avatar ... I present to you, the "Tilt-A-Whirl" clown!

 

800px-Tilt-A-Whirl_in_Saskatchewan.jpg

 

 

 

BTW ... Here is a video that shows the photographer explaining a little about the photo years later:

 

 

Eddie Adams Talk About The Saigon Execution Photo

 

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David Spicer

I will have incurred about a 35% increase in my cost-of-living here by the time that I have been here for 5 years.

 

That is one scary observation. I have tried to discuss the high inflation with expat friends here and the common response is the ostrich response. People just don't want to know that they may not be able to afford their current standard of living in 5 or 10 years and suggest I worry too much about things I cannot change. Hmmmm.

It does look bad when taken out of context. Without the wife and child I would guess that 35% would be somewhere around 20% or less. Still not great, but not all that bad either. It's not something that I dwell on, but many of us will probably be out of here at some point. But until that time comes, which I don't see happening to me during my 2nd 5 years here, I'm enjoying myself. For those that are budgeting/spending all of their income every month, many will be gone long before I am.

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smokey

When I first visited the Philippines in 1966 the exchange rate was 3.9 pesos to the US dollar.

 

 

 

 

and gas was 19 cents a gallon and a new vett was 3,500 dollars and my pay was 1.35 an hour ... now gas is 5,00 a gallon a new vett is over 50,000 dollars and my pay ... well its still 1.35 an hour but now i get time and a half..

 

Ok .... Now I have a new avatar that I hope is not demeaning to Asians, and is acceptable to all the members here that may feel offended by that mean old man, General Loan blowing the brains out of a captured VC on the streets of Saigon.

 

So, I now have a new avatar ... I present to you, the "Tilt-A-Whirl" clown!

 

800px-Tilt-A-Whirl_in_Saskatchewan.jpg

 

 

 

BTW ... Here is a video that shows the photographer explaining a little about the photo years later:

 

 

Eddie Adams Talk About The Saigon Execution Photo

 

 

 

 

 

 

hey that clown looks like john wayne gracy the child killer ... i think you should just post a picture of a cocanut then the fake locals will leave you alone

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billy

if you plan on living in the philippines you should have half your money in the peso that insures if peso goes one way or the other your safe. it's only common sense..people are just realising it now. if you live on a pension hold on for the ride because it's going to be a slippery one

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if you plan on living in the philippines you should have half your money in the peso that insures if peso goes one way or the other your safe. it's only common sense..people are just realising it now. if you live on a pension hold on for the ride because it's going to be a slippery one

 

Well this may be true, but if your income stream is pension only, there is not much you can do.

 

You will be very lucky to be able to set up a long term currency swap against your pension.

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David Spicer

if you plan on living in the philippines you should have half your money in the peso that insures if peso goes one way or the other your safe. it's only common sense..people are just realising it now. if you live on a pension hold on for the ride because it's going to be a slippery one

If you're living on a pension and spending the entire pension, I agree. I don't expect to slip at all and all I currently have is a military pension.

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RogerDuMond

and gas was 19 cents a gallon and a new vett was 3,500 dollars and my pay was 1.35 an hour ... now gas is 5,00 a gallon a new vett is over 50,000 dollars and my pay ... well its still 1.35 an hour but now i get time and a half..

Actually Robert your figures are a little off.

Gas 1966 - $.32

Sticker price for a 1966 Vet was $5,308.90

Federal Minimum wage was changed to $1.40 in 1966

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InternetTough

'66 Corvette = $5,308.90

 

1966 minimum wage = $1.40

 

5308 divided by 1.40 = 3,791 hours at minimum wage to buy one

 

 

2011 Corvette....$50,000?

 

divided by 3,791 = $13.22

 

Is the present minimum wage at $13.22?

 

I guess the car is better now.

Edited by InternetTough
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RogerDuMond

I guess the car is better now.

You be the judge. Personally I never liked the Vette.

 

66%20vette.jpg2011corvette_stingray_1.jpg

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David Spicer

Actually Robert your figures are a little off.

Gas 1966 - $.32

Sticker price for a 1966 Vet was $5,308.90

Federal Minimum wage was changed to $1.40 in 1966

I guess it depends on where you were located. When I started driving in Central Florida in 1972 gas was under 25 cents a gallon. When I joined the Army in 1975 it was 33 cents a gallon in Columbus Georgia.

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In the mid to late 60s, gas was arounnd .28 cents per gallon for regular and .32 per gallon for premium.

 

But, if you remember, they had lots of "Gas Wars" back then, and gas prices would sometimes drop much lower for periods of time.

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smokey

Actually Robert your figures are a little off.

Gas 1966 - $.32

Sticker price for a 1966 Vet was $5,308.90

Federal Minimum wage was changed to $1.40 in 1966

 

 

 

 

well not to far off using my memory.... and gas was cheaper as i would buy the off brand... and as my first real job was at a car wash when i was 15 maybe they cheated me...

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Cebuned

Just talked to a dear friend in CT, USA last night, on the phone, told me gas has gone up about .45 cents per gallon since we moved to Cebu. We arrived on March 9th this year, only a little less than two months and dam near a half dollar increase in fuel cost, that would have been hard for me to swallow back home...A few peso drop won't kill me here.

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