Jump to content

The strengthening peso


Recommended Posts

smokey

Um, are you in a first world country now? :D

 

Granted, communication - or lack of it, is a major issue here. However, other than that, the Philippines and Cambodia are quite similar.

 

 

 

if i was a single guy i would try other places but alas married makes things different

  • Like 2
Link to post
Share on other sites
  • Replies 82
  • Created
  • Last Reply

Top Posters In This Topic

  • InternetTough

    11

  • spooks

    8

  • smokey

    7

  • A_Simple_Man

    6

Top Posters In This Topic

Popular Posts

A lot of "economic experts" have never been to the Philippines. Experts have been predicting growth in the Philippines for the last forty years. Those experts don't understand the situation on the gro

They will adjust, or they will find somewhere cheaper to live.   Liberals / Democrats: If you click this spoiler, do not give me shit about it. You have been warned:    

It is not just the US dollar going down! The Philippine economy is moving forward. There are a lot of dollars moving into the Philippines through the stock market. This is known as "hot money" because

throttleplate

if i was a single guy i would try other places but alas married makes things different

smokey,being from arizona and me spending many years in vegas i always heard about this lake in central mexico where expats live around the lake in homes and some live in motorhomes,do you recall the name of the lake?
Link to post
Share on other sites

smokey,being from arizona and me spending many years in vegas i always heard about this lake in central mexico where expats live around the lake in homes and some live in motorhomes,do you recall the name of the lake?

 

You might be thinking of Lake Chapala.

 

Before deciding to come here, I strongly considered Ecuador, Guatemala (Quetzaltenango), and several places in Mexico (most strongly Oaxaca and Xalapa). If I were to decide to leave here, for whatever reason, I'd probably look again at those places.

 

However, as regards this topic, if the dollar were dropping that much against the Philippine peso, it would also be dropping against the Mexican and Guatemalan currencies. Ecuador uses the dollar, but still, if the dollar were dropping that much, it would buy less even there.

  • Like 1
Link to post
Share on other sites
smokey

You might be thinking of Lake Chapala.

 

Before deciding to come here, I strongly considered Ecuador, Guatemala (Quetzaltenango), and several places in Mexico (most strongly Oaxaca and Xalapa). If I were to decide to leave here, for whatever reason, I'd probably look again at those places.

 

However, as regards this topic, if the dollar were dropping that much against the Philippine peso, it would also be dropping against the Mexican and Guatemalan currencies. Ecuador uses the dollar, but still, if the dollar were dropping that much, it would buy less even there.

 

 

 

Well i have to admit its totally different but sure not any more $$ living in some parts of the usa.. When i go to the usa my wife goes to work so its a win win for me all around

Link to post
Share on other sites

Cambodia, so far, is cheaper than the Philippines. Fish and meats are cheaper at the public markets. Beer is on tap and is cheaper here, at many places. Here is a facebook page of one of the members of Kenny's Cambodia forum: 50c US beer in Cambodia.

 

 

 

 

Oh, I would not necessarily say that you have to give up something. I didn't have to give up anything, here in Cambodia. In fact, visas, alone, make it worthwhile to stay here long term. $290 USD / year with no - that is zero visits to immigration. You have someone take your passport there for you, all inclusive.

 

So now Paul P. believes Cambodia is better than the Philippines. Never thought I'd read that. I'm glad things are going so well for you there buddy.

Link to post
Share on other sites
Headshot

smokey,being from arizona and me spending many years in vegas i always heard about this lake in central mexico where expats live around the lake in homes and some live in motorhomes,do you recall the name of the lake?

 

Lake Chapala

 

Unfortunately, because of a lot of irrigated agriculture upstream from the lake, the level of the lake has dropped and the level of pollution in the lake has has risen. It is now like living next to an open sewer, with green scum everywhere and no fish. Add to that the fact that costs have risen dramatically, and Lake Chapala has long ago seen its heyday.

  • Like 1
Link to post
Share on other sites
Headshot

A lot of economic experts from all over the world think that the Philippines is the next happening place in East Asia.

A lot of "economic experts" have never been to the Philippines. Experts have been predicting growth in the Philippines for the last forty years. Those experts don't understand the situation on the ground. Trying to get the Philippines to advance economically without proper infrastructure is like trying to get an airplane to fly without any kind of airfoil (such as wings). If you took away the remittances, the Philippine economy would fall like a rock.

  • Like 4
Link to post
Share on other sites
USMC-Retired

The peso will not sink to much. The Philippines can not afford a strong peso it hurts exports and remitance. So the will keep it hovered around 40. Two things the US is doing first is they want a weak dollar it offsets trade imbalance second they are spend happy in washington. Yet it will not sink much lower then present for the near future. BSP may test it to see how the markets react however the negative affect will lead them to manipulate it again. The US could never be Greece reason is the size of the US and natural resources the world not just the US depend on. There are many well known economist that want to rid the US of the dollar. Just by this one move could eliminate 25% of the debt. Through a diminshed return of value for face value over 5 years. I do not put this past the federal government. One thing is Obama would be the person to do it not the GOP.

Edited by USMC-Retired
Link to post
Share on other sites
A_Simple_Man
A lot of "economic experts" have never been to the Philippines.

Neither have they been to the Spratley islands but they know there are 23.4 TRILLION US DOLLARS in oil reserves there. As soon as Philippines can get their hands on even a small portion of that this place will be as filthy rich as a Middle Eastern country:

 

The Philippines is “sitting on a mountain of gold,” with untapped hydrocarbon deposits estimated at $26.3 trillion, mostly found in the disputed Spratly chain of islands . . . This is more than the 13 billion barrels of oil deposits of Kuwait, one of the world’s top oil producers.

http://www.mb.com.ph/articles/358043/263trillion-oil-reserves#.UMrvxuSbNio

 

Note the news story is 8 months old but this country is still sitting on the same amount of oil and once they get the US lined up to protect oil companies then the lid is gonna blow off this place. . . . or China may get it all.

Link to post
Share on other sites
InternetTough

A lot of "economic experts" have never been to the Philippines. Experts have been predicting growth in the Philippines for the last forty years. Those experts don't understand the situation on the ground. Trying to get the Philippines to advance economically without proper infrastructure is like trying to get an airplane to fly without any kind of airfoil (such as wings). If you took away the remittances, the Philippine economy would fall like a rock.

 

There are articles from informed people all over the world. I just read one from Singapore. Are they ignorant of real conditions here?

 

 

Photographer: Julian Abram Wainwright/Bloomberg

"Government projects in the Middle East, spurred by the Arab Spring and the global financial crisis, are drawing Filipino engineers, nannies and office workers. The rise may propel the Southeast Asian nation ahead of Mexico this year to become the world’s No. 3 in remittances, behind India and China. The funds account for about 10 percent of the Philippine economy.

“Consumption has been driven by remittances for years and with investment picking up, the Philippines is set to become one of Asia’s gems,” said Santitarn Sathirathai, a Singapore-based economist at Credit Suisse Group AG. “Philippine assets will remain attractive, with a strong upside to the currency. Within Southeast Asia, the peso would be our top pick.”

Source: http://www.bloomberg.com/news/2012-12-12/philippines-peso-gaining-as-overseas-workers-top-mexicans-jobs.html

Link to post
Share on other sites
smokey

Neither have they been to the Spratley islands but they know there are 23.4 TRILLION US DOLLARS in oil reserves there. As soon as Philippines can get their hands on even a small portion of that this place will be as filthy rich as a Middle Eastern country:

 

 

http://www.mb.com.ph...es#.UMrvxuSbNio

 

Note the news story is 8 months old but this country is still sitting on the same amount of oil and once they get the US lined up to protect oil companies then the lid is gonna blow off this place. . . . or China may get it all.

 

 

 

another 15 years and the us will import 0 oil instead it will be selling oil

Link to post
Share on other sites
Headshot

Neither have they been to the Spratley islands but they know there are 23.4 TRILLION US DOLLARS in oil reserves there. As soon as Philippines can get their hands on even a small portion of that this place will be as filthy rich as a Middle Eastern country:

 

Note the news story is 8 months old but this country is still sitting on the same amount of oil and once they get the US lined up to protect oil companies then the lid is gonna blow off this place. . . . or China may get it all.

How much oil and gas is under the Spratley Islands is anybody's guess. They have done seismic tests, which indicate there is a lot of oil and/or gas there, but nobody really knows until they start drilling. The second question is WHO will end up owning those oil and gas reserves. Nobody really knows that either, but with the territory disputes, I would say there is a less than even chance that the Philippines will get any benefit from that oil.

 

The Philippines had the chance to run most of the competition out of the Spratley Islands back during the waning days of the Vietnam War, but they didn't take it. Instead, they waited until after the North Vietnamese took over the south (and the Vietnamese outposts in the Spratleys and then actually lost territory to the Vietnamese. In case anybody is wondering, it was known back during the Vietnam War that there was the potential for some pretty big oil reserves under the South China Sea.

 

Had the Philippines acted then to move everyone else out of the islands in 1973, they wouldn't be having this problem now. However, they didn't take action...and now I would say that the potential for drilling in that area (by the Philippines or its lessees) is much less than it was then. This is the kind of stuff where NOT doing things today to benefit your people in the future (living for today) will hurt you badly in the long run. I'm not sure the Philippines knows how to plan and act for the future. They certainly haven't shown it if they do know how.

Edited by Headshot
  • Like 2
Link to post
Share on other sites
Headshot

There are articles from informed people all over the world. I just read one from Singapore. Are they ignorant of real conditions here?

 

"Government projects in the Middle East, spurred by the Arab Spring and the global financial crisis, are drawing Filipino engineers, nannies and office workers. The rise may propel the Southeast Asian nation ahead of Mexico this year to become the world’s No. 3 in remittances, behind India and China. The funds account for about 10 percent of the Philippine economy.

“Consumption has been driven by remittances for years and with investment picking up, the Philippines is set to become one of Asia’s gems,” said Santitarn Sathirathai, a Singapore-based economist at Credit Suisse Group AG. “Philippine assets will remain attractive, with a strong upside to the currency. Within Southeast Asia, the peso would be our top pick.”

So...they are basing their projected boom on increased remittances? That is ridiculous. Sending the best of your people overseas to work is very short-sighted. It does nothing to help build up the country from within. It says something very bad about your economy if remittances can have so great an effect on your economy.

Link to post
Share on other sites
A_Simple_Man
another 15 years and the us will import 0 oil instead it will be selling oil

 

If you are dreaming about all the shale oil, the US will run out of fresh water long before it runs out of oil. Do you have any idea how much fresh water the oil companies use to get that shale oil out? Now Canada can sell you some fresh water, but before long it will be more expensive than oil.

Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..

Capture.JPG

I Understand...