Wall Street and future opportunities
SANTO DOMINGO.-Americans are using words today that this generation thought it would never use again - only on 20th Century History examination papers. Words such as: Great Depression, wars in two fronts, bank nationalization, Wall Street crash, home foreclosures, and College graduates burdened with debts with poor career prospects, etc. But somehow you know deep down it has to get better, and soon.
The world depends too much on the United States for solutions to solve World hunger, Aids, Cancer.
No one is sure if the $ 700 Billion$ "Bail-Out" or the "Injection" of an additional $250 Billion into the private financial system will work. And by the way, all the experts have been wrong.
How about the possibility of devaluation of the dollar? This past summer we began to see "We accept Euros "in New York stores. Scary? perhaps.
But listen closely. Let's look at a country that's been around for over twice as long as the United States and see if there is any historical comparisons when it comes to their currencies. After all, some have said America is slowly becoming a Third World country. Right?
For one, the average American on the street has no idea or clue of what devaluation means. And I am reminded of attending a birthday celebration in Santo Domingo some years ago. I had just returned from my "Caribbean Route", calling on distributors in Miami, San Juan, Kingston, and Port-au-Price. That night, the celebration was at the home of a prominent Dominican friend with distinguished guests.
After a few cocktails, the subject of prevailing world economic conditions came up. During my recent travel, I had seen vacant luxury beachfront Jamaican properties empty and with for sale signs. Major markets of Mexico, Brazil and Argentina were going broke. The Canadian dollar was weak compared to the almighty dollar.
I ventured to say that devaluation was a possibility for the Dominican peso, and one of the guests responded "Tu ta loco Paulino! aqui nunca vendra una devaluacion". This expert had an insular mind was not a global thinker, and perhaps it was more an expression of national pride.
We see that same mentality in American thinking.
But we can learn something from the Dominican experience of those tranquil pre-hurricane David years in Santo Domingo, a beautiful tree-lined City with no traffic jams. Our Central Bank still subsidizing the Dominican currency or can we say, "Bailing Out"? the financial system.
There were similarities of a gathering financial storm. And today, just like in those years, you could still obtain a 20 year mortgage in Dominican pesos and not only protect your savings, but come out ahead by buying top real estate property.
For those who can, the lesson is that you should not fear and take the opportunity to purchase nice homes in the United States. For US-based Dominicans, seeking desirable retirement home in the Dominican Republic it's a good time.
Why? Because the dollar is shrinking and shall devalue. One reason is that a poor economy borrowing from China to pay for Arabian oil should do it. Like good Dominicans, Americans failed to learn the lessons of the 1980's, 50 Miles per Hour highway limits and sugar based engines. And wait for the "inorganic" US dollars. And what is that ?
But good land or property shall hold its value, in the United States or the Dominican Republic.
Today we hear advice that should have been taught in grammar school, along with early sex education and Civics: be frugal, save, and preserve your credit, live under your means.
But take faith, it's a good time to search and buy top retirement real estate. Now is the time. After all, what is better than living in the U.S., and getting away to a nice place in the Dominican Republic for the warm months and enjoy our "Dominicosas" ?
The world depends too much on the United States for solutions to solve World hunger, Aids, Cancer.
No one is sure if the $ 700 Billion$ "Bail-Out" or the "Injection" of an additional $250 Billion into the private financial system will work. And by the way, all the experts have been wrong.
How about the possibility of devaluation of the dollar? This past summer we began to see "We accept Euros "in New York stores. Scary? perhaps.
But listen closely. Let's look at a country that's been around for over twice as long as the United States and see if there is any historical comparisons when it comes to their currencies. After all, some have said America is slowly becoming a Third World country. Right?
For one, the average American on the street has no idea or clue of what devaluation means. And I am reminded of attending a birthday celebration in Santo Domingo some years ago. I had just returned from my "Caribbean Route", calling on distributors in Miami, San Juan, Kingston, and Port-au-Price. That night, the celebration was at the home of a prominent Dominican friend with distinguished guests.
After a few cocktails, the subject of prevailing world economic conditions came up. During my recent travel, I had seen vacant luxury beachfront Jamaican properties empty and with for sale signs. Major markets of Mexico, Brazil and Argentina were going broke. The Canadian dollar was weak compared to the almighty dollar.
I ventured to say that devaluation was a possibility for the Dominican peso, and one of the guests responded "Tu ta loco Paulino! aqui nunca vendra una devaluacion". This expert had an insular mind was not a global thinker, and perhaps it was more an expression of national pride.
We see that same mentality in American thinking.
But we can learn something from the Dominican experience of those tranquil pre-hurricane David years in Santo Domingo, a beautiful tree-lined City with no traffic jams. Our Central Bank still subsidizing the Dominican currency or can we say, "Bailing Out"? the financial system.
There were similarities of a gathering financial storm. And today, just like in those years, you could still obtain a 20 year mortgage in Dominican pesos and not only protect your savings, but come out ahead by buying top real estate property.
For those who can, the lesson is that you should not fear and take the opportunity to purchase nice homes in the United States. For US-based Dominicans, seeking desirable retirement home in the Dominican Republic it's a good time.
Why? Because the dollar is shrinking and shall devalue. One reason is that a poor economy borrowing from China to pay for Arabian oil should do it. Like good Dominicans, Americans failed to learn the lessons of the 1980's, 50 Miles per Hour highway limits and sugar based engines. And wait for the "inorganic" US dollars. And what is that ?
But good land or property shall hold its value, in the United States or the Dominican Republic.
Today we hear advice that should have been taught in grammar school, along with early sex education and Civics: be frugal, save, and preserve your credit, live under your means.
But take faith, it's a good time to search and buy top retirement real estate. Now is the time. After all, what is better than living in the U.S., and getting away to a nice place in the Dominican Republic for the warm months and enjoy our "Dominicosas" ?