1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

Credit in 2nd & 3rd world countries

Discussion in 'Central Banking & Fed Reserve' started by 97guns, Jan 27, 2017.



  1. 97guns

    97guns Gold Member Gold Chaser

    Joined:
    Jul 29, 2010
    Messages:
    1,367
    Likes Received:
    1,079
    Trophy Points:
    113
    Gender:
    Female
    Occupation:
    RETIRED
    Location:
    USA
    My wife is from a tiny village in Thailand, they have a 7-11 and a couple ATM machines and that's about it, all their marketing is done in outdoor open air markets. They live in a little 1 bedroom open air house/hut and cook their food on a fire or small 1 burner propane stove. Everyone in the village lives the same simple life yet everyone we know is up to their eyeballs(in their currency)in debt, most all of them have taken loans to buy farmland to grow to eat and sell.

    Just opened my eyes that the credit based economy is truely a worldwide problem
     
  2. BackwardsEngineeer

    BackwardsEngineeer If I weren't a snowflake, I'd have no luck at all Silver Miner

    Joined:
    Aug 1, 2011
    Messages:
    345
    Likes Received:
    476
    Trophy Points:
    63
    Gender:
    Male
    Writing from Costa Rica, we winter here and have every year since 2010....
    We have never seen so few tourists, so few beach goers and people in the restaurants. Locals and ex pats involved in the economy claim it is not as bad as it appears. The usually over booked place we stay has had 50% open occupancy and a hotel in a local town has not had a guest in two weeks. Was going to start a thread on this, then just tacked onto yours...

    Here is my theory or at least wild butted guess, for the last eight years the fed has been printing and exporting debt at earth shattering rates. Places like Thailand, Costa Rica, Mexico and most of the rest of the world have been sucking it up like a whore on crack. All levels from the rich to the poor and ex pats who have moved to avoid taxes, are out of control in debt. Some locals here who make less than 8k annually, have 30 to 50k in debt, mostly in auto loans at 12+%.
    Now that the dollar is strengthening, was 525 to 1 last January now 555-560 to 1, the weight of dollar based debt is stiffling the economy and slowly suffocating the other wise happy people. So much so if this continues, we will not return next year, or will go to non tourist areas only. So my thought overall is that once the fed exported debt worldwide, we have now reversed the pumps and are going to suck all those dollars plus interest back in. Which will literally send a large portion of the world into Grecian/Argentinian moment. Either way the days of high flying non substance based economies are gone.... and it will be main stream news by summer....
     

    Attached Files:

  3. 97guns

    97guns Gold Member Gold Chaser

    Joined:
    Jul 29, 2010
    Messages:
    1,367
    Likes Received:
    1,079
    Trophy Points:
    113
    Gender:
    Female
    Occupation:
    RETIRED
    Location:
    USA
    just like the US and all these yuppies driving beemers and range rovers and posturing like they have money, the people in my wifes small village are the same. even though they are DIRT poor by american standards they like to look like they have money, when someone shows any wealth there it is quickly recognized.

    we are building a 3 bedroom 3 bathroom house right now and everyone in the village is curious how the money is coming about, people from ajoining villages that my inlaws dont even know are stopping and asking about the new house. we are using high end supplies and it will look like a resort in their eyes, best of all we are coming in way under budget. we figured around 50-60K but are now looking at no more than 35K, gotta love 3rd world countries where you can eat dinner for a buck and buy a mcmansion for 40K
     
    BackwardsEngineeer and mayhem like this.

Share This Page