www.CostaRicaTicas.com

My tax rate is the same no matter what they are doing with the money. They will always find something to spend it on. Still a lot lower than many countries.




The builders , real estate agents, flippers-investors, etc, etc were real happy to have all these "blue-collar" roofers, janitors, cooks, etc - consumers during the boom. Now they are kicking them back to Mexico. Genius. Let them come here and give them home loans, then kick them out. Most of the "illegals" are not in default on their loans unless they have been deported. They will live two families to a home before they will default.

Paco, does that mean that the 5 million illegalshave fled and gone home?

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Providing humanitarian assistance to self employed chicas, one cash grant at a time.

As DiegoC's doctor alluded to, the contrarian position in up AND down markets has made a lot of savvy people a lot of money, most notably Warren Buffett (he, John C. Bogle of Vanguard and Bill Gross of Pimco are my 3 picks for the Responsible Capitalists Hall of Fame.). Oh, and about that flight to buying gold for safety? Good luck finding any quantity of physical gold deliverable within 3-4 months--there ain't any. Govt. bonds are yielding, what, 0.3%? And with inflation at 3.5% annualized you're losing 3% +/- (interest rate risk) but at least the principal is safe.
About those illegals getting "fraudulent" loans--that was Fannie Mae's political payoff to ACORN so they (Fannie Mae) could do the really damaging stuff absent scrutiny or regulatory control. My thoughts, anyway.

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"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED

Paco, does that mean that the 5 million illegals have fled and gone home?

_________________
Providing humanitarian assistance to self employed chicas, one cash grant at a time.

I've been listening to the "ole man, America aint white no more" stuff as long as I can remember.
These "11 million" or "5 million" Mexicans are 100% consumers. That is a big aspect in many major cities in the last 10 years. Go to Wal-Mart in the evening in Metro Atlanta and you will see mostly Mexicans. Contrary to popular belief , they are happy to pay taxes and work 60 hours a week.
They occupy many of the older apartment buildings and homes we left behind.


A friend bought a 115 unit apartment complex in the Atlanta with the plans to tear it down and build a shopping center. But when he looked at the books, it was and still is occupied by 100% paying Mexicans . He says it's one of the best investments he's ever made.

Kicking out 11 million consumers is not going to make America stronger. It's going to leave many more homes vacant and slow down our economy even faster.


But you go right on with it. And " The South Shall Rise Again". Gees.

My comment made no reference to whether they should be here or sent back, just surprised that so many illegal loans were made to illegal aliens.

What utter nonsense. How did Sarah Palin get an account here? On the other hand, I can't explain why I am reading THIS site for thoughtful analysis of the economic crisis. (boredom, that's it!)

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"The only normal people are those you don't know very well." Joe Ancis

I think Brinker sucks. They probably pulled it because of his financial pornography. Just my opinion. Probably not the reason but I can fantasize about it.

I'm still not sure most guys here get it. This was all planned. The US is being destroyed by design. If you can't see that we are now a fascist (corporatocracy is another word) country, then you are still sleep walking. I don't mean to be an ass but does anyone think that we really live in "free market economy?" Just asking. We are all slaves to the debt machine that is created by default by the Federal Reserve System and the false creation of money. The world is a stage and the mainsteam media are masters of deception. 90% of mainstream media is controlled by 4 corporations. All of those corporations are run by individuals who have one thing in common. In order not to offend anyone, I will leave that similarity a mystery. Find out for yourselves.

Every time I add to this thread I must continue to mention the MOST important thing of all. Remember, the money you have in your pocket is fiat money. It is a receipt, an IOU from the Fed, the private, for profit corporation that controls our money supply. Do some research on the Italian Lira or the German Dmark. Both failed fiat currencies. 1x0=0, 1,000,000x0=0. Just some food for thought. By the way, has anyone noticed that all of the "bailouts" or "rescue plans" have one very glaring caveat? That being that the saviours are taking equity ownership. Imagine that. The Friday G-7 meeting result....the Fed and Treasury decided the will help the banks that they chose to help and will be taking equity positions in those banks. Although they won't have voting rights. Huh? I've never heard of that. But, it's their game and they can make up whatever rules they want I guess.

dapanz1

Quote*** from where, I don't know.
It's not known how many of those have contributed to the subprime housing mortgage meltdown, but it has affected every state.
The problem began years ago when banks were forced to give mortgages without confirming social security numbers or borrower identification. As a result, illegal immigrants were able to obtain home mortgages which they could not afford. Lax immigration laws have also helped make this crime easy to perpetrate. ***[/quote]

Many of these loans had 10 or 20 % down and are not in default. To get a "no doc" loan without good credit usually required this down payment. I am only aware of the Atlanta market. But my real estate loan broker friends say their Mexican customers are their best and not in default.

I stand with Brother Icant... on what he's said, but let's for clarity's sake call them "undocumented aliens" who because of that status are severely abused by employers and others all across the U. S. All those folks who advertise quick cash for your urban house no matter what condition it's in? Who do you think they are renting it out to? And the billions they send back home are keeping whole Latin, African and Asian nations afloat. Let's don't be too hard on them. The only crime the vast majority of them are guilty of is being here--the last thing they want is to come to official/LE notice. If the laws we had now were in effect 100 years ago, I'd still be grubbing for potatoes to pay an English aristocrat. And yes, we do have fiat currency sustained only by the power of belief, which is crumbling daily.

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"A man accustomed to hear only the echo of his own sentiments, soon bars all the common avenues of delight, and has no part in the general gratification of mankind"--Dr. Johnson
"Amen, brother"-ED

I haven't been to sex paradise since March. How is the world financial crisis
affecting our hobby? This thread started out with helpful information
about a surprisingly stronger dollar against the colon. What else
is happening? fewer mongerers with cash to spend on a holiday?
decreased rates by the chicas and MPs (specials)? hotel bargains?

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Same river, new water

Bilko - your coment on Saturday October 11th “How did Sarah Palin get an account here?" Was hilarious. I loved it.

There are some well educated economists in Costa Rica but many of them are educationally dependent upon the economic policy drivel that flows from the big glass building at 42nd Street and First Ave in New York.

Another major problem with the Costa Rican economy is the alleged rampant corruption that seems to run throughout the government and the irrational policies of the major government controlled enterprises. A solid economy cannot be sustained in a corrupt environment where CEOs must cow tow to unaccountable politicians.

From a national macro point of view the economy is headed toward the Costa Rican version of the Jimmy Carter years – stagflation. The economy is cooling down and consumer confidence is growing cold.

That is probably based on the rapid growth of the money supply linked to real estate interest rates and its explosive grown. The national economic advisors are not taking the action they should in order to reduce and cushion against negative (external and internal) economic pressures.

At the local level, inflation has been very real and clearly evidenced in the price of consumer goods particularly in food and fuel. That may have found its way into raising prices at some MPs.

From a personal point of view, one of my favorite MPs raised its prices by nearly 35 percent (BangBang posted data on prices including venues which have increased prices).

It is not likely that independents will raise their prices in as much as the supply of mongers and the amount they are willing to spend on each trip may be diminishing.

I have not checked the current visitor rates but it is reasonable to expect that mongers will be taking fewer trips and/or will spend less when they do take mongering journeys. It is clear that American consumers are seeing their discretionary funds reduced.

As a protective mechanism against increase fuel cost, which impact all aspects of the economy, President Arias has played “lets make a deal” by turning to Hugo Chávez’ PetroCaribe oil initiative.

PetroCaribe will provide fuel to Costa Rica at preferred prices. Read that as reduced prices which could be suddenly raised should Arias not go along with Hugo. Economic black mail? I'm shocked there is gambling at Rick's!

The Venezuelan leader, who is quickly turning into an absolute dictator, slapped Arias around about a year ago when Chávez threatened to close down a major employer in Puntarenas, an aluminum plant in owned by the Venezuelan government. It appears Hugo got Oscar's mind right.

Just a couple of thoughts broken into three segments so as not to be too boring.