In anybody’s life they go through good times and bad times. Good things happen to them, and bad things happen too. It’s just human nature. No life is perfect. Probably, if everything were perfect, we might be bored with life. One thing about it, though, if you have the right outlook, you will take all those bad experiences and learn a lesson from each one of them. If you do that, you can make yourself a better person, and avoid making the same mistakes over and over again in your life.
Feyma and I have lived in the Philippines for more than 9 years now. During our life here in the Philippines, we have experienced good and bad, just like everybody else has. In general, we have learned lessons, applied them and improved our lives over the years.
There is, however, one aspect of life here, and bad times, which we have been kind of bad about, and that is what I want to talk about today.
Making a move halfway around the world is a big thing to do. It is life changing, and it can be a scary thing to do. It can also be an exciting thing to do too, though. One trap that we have fallen into sometimes, though, is blaming problems on the fact that we moved to the Philippines.
As an example, right now, the entire world is experiencing financial bad times. Jobs are scarce, people are not spending money they way they did just a few years ago. Feyma and I have a number of businesses, and without exception, each of these businesses has been hit pretty hard by the failing economy. Actually, the economy here in the Philippines is still in pretty good shape. However, we have been hit because almost exclusively, our customers are foreign based. The vast majority of our customers are from the USA, Canada, Europe and Australia. So, with these people cutting way back on their spending, that means less money for us. That’s how things work.
However, the bad thing that we sometimes fall into is thinking things like – “If we just had not moved here, things would be better!” Thoughts like that are not only bad to think, but they are really inaccurate. In terms of the economy, I mean, think about it. The place where I used to work when we lived in the States went from having about 3,000 people on the payroll to only 300. If we had stayed in the States, there is a good chance I would not even have a job now. So, how could we rationally say, or even think, that if we had stayed in the USA, we would not be experiencing the economic slowdown?
And, this is not just about the economy. In other aspects in life we have made a foolish statement starting out with “If we had not moved to the Philippines….” That is not a rational way to think!
The fact is, our lives have improved dramatically since moving to the Philippines. We are healthier, enjoying life more, etc. The fact is that making the move to the Philippines was not a bad thing to do, it actually improved our lives!
Be careful about thinking this way. This is not just a Martin thing, because I have heard this same statement from other expats here as well. Actually, I think that this is a very common thought among expats. But, if you step back and look, thinking that way is generally not accurate.
It’s always best to avoid negativity, and remain positive!
Hi Bob – Oh, I know where you're coming from. I'm taking a hit from the economic crisis, too. My trips to the Philippines were largely afforded by my primary employer's generous compensation, so little out of pocket funds were needed. Now that's changed and for next year's visit to PI, it looks like 100 percent out of pocket! More and more the [self-imposed] pressure is upon me to take more control of my financial future. None can be more accurate as I intend to retire in the Philippines. My retirement package is not even close to covering my future needs. Taking the entrepreneurial leap is the only (and best) way, despite the economic crisis.
Hi Bob,
Thats an interesting message you are sending out.
I remember when i was a young man,and things went wrong in my life,i would say "Why is it always me".When i grew a little older i realised those problems were not just reserved for me,but happen to everyone.
regards Chas.
Every single person I know has been hit hard, seems like the magic number is 50. Business? 50% down, IRA 50% down, real estate 50% down. Had lunch with a good friend of mine just today, owns a large air charter company….50% down. Its depressing as hell!! Seem if you can pay the bills and break even in this economy your "making it" . According Bernanke he see's some light at the end of the tunnel…personally I think all he see's is his bic lighter torching up his crack pipe !! I fear we still have a ways to go…
Hey Bob
Thats Odd, Here I am thinking "Financially I could do it but If I only had the nads to make the move to RP now everything would be sweet"
There are MASS unemployment woes here in the US, it is far worse than any American that is living there in RP could even get a grip on and how bad it is getting.
Friends loosing jobs/houses/401k savings friends and family asking if they can rent out your basement to live in. Get a grip Expats living RP, things would be a whole lot worse if you were living in the US on what $$ you are living on in the RP.
Hi Bob,
I knew that this world economy would hurt even Phil's. Not just you but price of rice in some places is up by 2 or 3 peso's. And for someone that came there years ago with little pention from here I can see how it might hurt. My Brother has aleady built house there and can not retire for four years. But he does spend 8 weeks a year 3 hours from where I bought house. Merlin will have here own beauty salon, maybe if lucky, p10,000 a month and maybe with nephew help, who teaches compter progaming at local college, I make p5000 a month, and payment from my house, $1000.00 per month, we will make it. I commend you for making it so young without guarantee's of income. I am old enough that in less than year my guarentee doubles.
Bob if you have to charge something for your site, even living there I would put in budget. I have used site a few times to load phones there, ( still cheaper that sending money western union ) and will still buy 49 ways to make a living when I get there and can download on computer there. I have been upper middle class three times, and I do not wish to work that hard any longer. Merlin is used to p9000 a month, and famliy of 5 maybe p20000 so we will do fine. Oh what about that three time a week?? you hooked on LIP too?? hehe
whoops I meant 50,000 a month from sale of house
Kamusta ka Bob,
Bob your very right, you can't blame the area you live in, thats for sure. Things are getting very bad here in USA, as everyone has said.
I would have made my first trip to PI, last April/May, if it weren't for being laid off, and searching for work again. Its the sign of the times, America has been through it before, and we'll eventually make it through again..I hope. Doesn't mean I won't stop my plans of marrying Rose, just puts a few more obstacles in my way, but that CAN be hurdled.
I hope this relates a little, but an interview with Tom Hanks after he did the movie "Saving Private Ryan", was he talked about when he was 19 years old, had a lot of bills, and was putting himself through college, and really struggling. He had a man in his 50's at the time, deliver his dry cleaning, and befriended him. So he use to tell this man his problems, and asked the man if he had the same problems when he was 19. The man said "No", I was in France fighting with the 101st Airborne, dodging artillery, and German bullets, and trying to make it to the age of 20. So Tom thought to himself..you know what..I really don't have that bad of problems..things could be worst for me.
Not saying things won't be bad for some, but of course, things could be a lot worst, and I really hope it doesn't get that way. Just a brighter way of looking at things to me is all.
I still have a bright outlook on life, and see that shining light at the end of the tunnel, I tell Rose that light is her and Chesca. She understands these things very well, and thank goodness she is a patient and loving woman.
I have even started my eBay auctions up again, and doing ok…even that is kind of slow now.
Well, that is all for now, and I hope business picks up for you Bob.
Salamat kaayo, ug ingatz!!
Danny 🙂
Wow, I didn't know your previous trips were a fringe benefit!
Hi Bob,
Let's say for arguments sake you never moved to Mindanao and stayed in the States. You probably would have gotten laid off and then you'd say to Feyma, " We should have moved to the Philippines! We'd have a dozen internet cafes in Southern Mindanao by now and be living the easy life in paradise!"
Life is made up of a series of decisions we make. We can never be entirely sure of the consequences of each decision. One can only apply some foresight and hope for the best.
At times I think we all go through a phase of " If Only " and it is probably a normal reaction. More and more in recent years however when ever I feel an " If Only " this or " If Only " that I divert my attention from that to taking a step back and think of all the things I " DO " have, things to be thankful for. I think we all have at least a few things to be thankful for if we each think about it.
The comment about 50% is becomming aparant at my job too although for the forseeable future I think I will be OK but like most Americans and others for that matter, I am diverting as much as possible into savings, just in case.
An article I sent in to our local paper called voice of the people section , kinda tells how I feel :
The federal reserve, a private cartel of major banking institutions in America have stolen the hopes and dreams of middle class America for decades to come. These unscrupulous big shots knowingly repackaged risky sub prime mortgages and sold them to the world financial investments firms as secure investments knowing that they were in fact a ticking time bomb of default all in the name of greed. Where is the outrage? Where is the federal investigation? How could our president decline to initiate such an investigation into such blatant fraud but then reward the same institutions and people which perpetuated this crime of the century with trillions of future tax dollars to boot? This fraud committed by the major investment banks has raped the American middle class of its hope for any prosperity for decades to come.
I am livid that our president not only refuses to investigate this and bring those who committed such treasonous acts of greed at the expense of our nation to justice, but has rewarded the same thieves with bail out in the trillions and allowed the same wolves to guard the chicken house !! This is America? This is justice? This is leadership? I am ashamed to call myself an American!!
Signed
Comrade Brian King
Bob,
With my life I had fears and hopes moving here. I had thought with my architecture and management knowledge, I would be able to find some work here. Plus I thought my Blog would generate some income too.
Once here I found there are many people with the skills and knowledge I have and they are Filipinos.
At times I wonder what would life be like if I stayed in the US and brought Elena to America.
Every month I look at Monster.com to check the job market in my field and I see few to none.
I also realize with my age and all the unemployed Architect grads and other young people with my experience, a decent job would be hard for me. So I am glad I have the family here so I can survive.
Your article is right on target Bob. I am kind of on the other side wondering what life would be like if I were living in the Philippines right now. I brought Marlou here to get her citizenship and to fulfill her dreams of living in the U.S… She is quickly learning that life here is hard. Not to suggest that its not hard there-its just a different hard. We make sufficient money but its never enough-there is always something we have to pay. I have no idea how far my income would stretch there but I always find myself thinking it would be easier than here. I really don't know and I wish that it was clear to me. If you decide to charge a fee for this site I would be glad to pay it. Life is a journey and I think that right now we all need to watch out for each other the best we can. Ron
Hi Bob,
Well, it's not exactly a fringe benefit of sorts. My primary employer offers decent compensation (for example, buy-back of unused vacation time). Take that into account with an annual bonus and holiday bonus all pays for my trip to the Philippines. That's all changed come 2010. I'm already saving and looking at other money-making ventures.
Hi Randall – No doubt that every decision that we make ripples into many areas of our lives that we would never dream of. Who knows what would be "if only" – it could be disastrous.
Hi Ron – You know, I have learned something in life. No matter how much money we earn it is never quite enough. Once you get used to a certain level of income, if you have a bit of a dip, it is tough to handle, because even though you are still earning very nice money, you are used to having more. Even if you are rich, you can still feel poor!
Positive thinking is something I'm working on very, very hard at the moment. It is something that I've needed to work on for a long time. It sounds as though you have a handle on it, at least on the need to have a positive attitude.
Last month I lost my job, like MANY here. It was difficult and I was stressed (and had been for quite some time) but I was fortunate to find something quick doing the same type of work I had been doing, printing sales. The challenge with the new position is that I'm expected to bring in lots of new business. Advertising sales, as with most industries, is WAY down, so the task is even more difficult than usual. Everyday I walk into businesses only to find my former contacts no longer there, or in some cases the business is closed all together. Many of our vendors have also closed lately. It's tough times here in Spokane.
I'm working as hard or harder than I ever have and I'm completely determined to be successful with this new opportunity regardless of the situation. I'm brushing up my sales skills but more importantly I'm working on my attitude – daily.
With this I feel I've gained the opportunity to work on an area of myself that's really needed it. Sure the opportunity was always there, but I guess it took this for me to do it. Though I fully expect to be successful with this new position, the work that I'm doing on my attitude will reach far beyond this job.
Thanks for a very timely article, Bob.
I've owned my own House cleaning business for 15 years. House cleaning including new construction cleanup. I ran 2 crews of 3 just last year. This year I only have enough business for myself. my business is down by 2/3 and my husband had to take a job at Wal-mart. But on the flip side of that, I still DO have a business, my husband DID find a job at wal-mart, all the bills are paid and i'm in no danger of losing anything. I live a very blessed and priveleged life. All depends on how you look at things.
Hi Randy – I didn't realize you were in sales. I knew you were in printing, but thought you were on the technical side. Through our mutual acquaintance, I knew that you had lost your job, but am happy that you were able to get another one quickly.
The main business that supports our family, which used to practically be a money machine, has really been having trouble. There was one week, a few weeks ago that that business made $6 for the whole week! Thankfully, I have some other things that help, but it's hard to take a loss like that.
I am very thankful, though, and feel that a positive outlook is important. That business that has been so bad lately… today, the sales have been just like the good old days! Of course, I don't think that this signals an end to slower times, but I certainly hope that it indicates an uptick.
Hi Evelyn – I'm glad that you have been able to weather the storm. Like you, we have had some pretty rough seas, but I hope that I'm seeing some sunlight on the horizon.
Just time for a little humble pie for all. Compared to the way that the average person on earth lives, we are still very high on the have to have not scale. The old adage, I never wanted much, just a little bit more. So we have to take a step down, & maybe get our hands dirty at our new jobs. Instead of running people on the job,maybe we should try it ourselves. It is supposed to be good exercise. Is their any icecream left for my pie? Well timed issue Bob!
Bob,
The architecture business is so down in the US, outsourcing is down also. I had looked at Elance and Guru but they are looking for full design and mostly Commercial type things. I am mainly residential. Even the firm I worked for here is almost dead with their outsourcing.
I understand my site is young. Maybe when it gets old it can get a pension. 🙂
Thanks for the reply.
Well I hate to disappoint you, but anyone who has studied the facts, knows the USA economy will get much, much worse.
The problem is the debt-GDP ratio is 2x higher than it was before the Great Depression, and it is going parabolic (see the following chart):
http://mwhodges.home.att.net/nat-debt/debt-nat.ht…
Govt stimulus adding more debt does not fix the problem, will only lengthen the Greater Depression coming (make it worse). Most people don't realize that the New Deal actually made the depression worse, because it misallocated productive capital to waste. Farmers were paid to dump milk and walk on their crops. We have the same thing again with Philippines ripping out useable roads and replacing them with new roads on P250B of stimulus this year. Ditto China where 70% of private savings ends up in Communist Party run companies that generate only 1/3 the GDP growth per capital invested as compared to the private sector. Govt can never create wealth, it can't only re-distribute it (steal it for the connected rich). Goldman Sachs has people in every key position in the Obama executive branch.
http://opinion.inquirer.net/inquireropinion/colum…
I suggest you read Rich Dad, Poor Dad's new e-book:
http://www.conspiracyoftherich.com/
Understand why Gold will go to $15,000:
http://arabianmoney.net/2009/07/12/gold-should-re…
We are entering a 4th Turning:
http://www.gold-eagle.com/editorials_08/galland07… http://financialsense.com/editorials/quinn/2009/0…
"..Previous 4th Turnings in U.S. history have involved total war. Deaths during the American Revolutionary War were approximately 50,000. Total deaths during the Civil War were 600,000. Total deaths during World War II were 73,000,000. How many people will die during the coming Crisis? No one knows the answer in advance. An integrated global economy, combined with nuclear weapons, advanced military killing machines, terrorists, and peak oil appears to be a recipe for death on a colossal scale…"
Any one with an academic level of IQ and interest, can learn/study why only Gold (& silver) can retire this debt load:
http://www.financialsense.com/editorials/fekete/m…
Here are some summaries of why things can not get better from those who predicted the crash of 2007/2008 well before it happened:
http://silverstockreport.com/2009/housing.html http://www.financialsense.com/editorials/casey/20… http://www.gold-eagle.com/research/lundeenndx.htm…
P.S. I have lived in Davao City since 1994, with several 1 year working stints in USA interleaved until now.
Hi Bob, It's hard for me to know what to say. In these troubling times it's hard for all of us at times not to visit the "what ifs" and "if onlys" be it in the Philippines or abroad. I think that you and Feyma are good people with a loving family. You've established yourself there with many friends and a great support system around you. This will help equip you better to think positive in order to "weather the storm" and come through. You are living in the Philippines after all, and we know that's a plus for you that others would love to have.
Well I hate to disappoint you, but anyone who has studied the facts, knows the USA economy will get much, much worse.
The problem is the debt-GDP ratio is 2x higher than it was before the Great Depression, and it is going parabolic (see the following chart):
http://mwhodges.home.att.net/nat-debt/debt-nat.ht…
Govt stimulus adding more debt does not fix the problem, will only lengthen the Greater Depression coming (make it worse). Most people don't realize that the New Deal actually made the depression worse, because it misallocated productive capital to waste. Farmers were paid to dump milk and walk on their crops. We have the same thing again with Philippines ripping out useable roads and replacing them with new roads on P250B of stimulus this year. Ditto China where 70% of private savings ends up in Communist Party run companies that generate only 1/3 the GDP growth per capital invested as compared to the private sector. Govt can never create wealth, it can't only re-distribute it (steal it for the connected rich). Goldman Sachs has people in every key position in the Obama executive branch.
http://opinion.inquirer.net/inquireropinion/colum…
Read bottom of my other post for more on this:
http://www.liveinthephilippines.com/content/2009/…
Hi Jim, I agree with you about important matters of the heart and important plans for the future for many readers would and should be recession-proof. IMHO, Bob has a lot of important tools and information that for many of you readers could possibly change your future life completely. Seems like a good investment for many of you in spite of tight budgets right now.
Hello All!
Well, on the up side of things the Dow has been above 9000 for the
first time in a long time but am certain you are all aware of that.
But, also according to my financial advisor things are getting better. Slow, but we are definitely on the road to recovery.
I hope I have made you guys feel better. Also I watch CNBC every
morning and they sound optimistic, the market appears to be turning
around. Bob, do you get CNBC there? you probably do, am certain
you do.
I feel positive and very hopeful for the future. Am looking forward to my visit to Davao and I hope to meet some of you who are there.
Best to all,
Oh you mean the "green shoots"?
You don't know that all the mainstream news and official govt economic data is manipulated lies?
http://shadowstats.com
Study the facts I previously posted tonight (which are still awaiting "moderation"). Geez don't tell me Bob that you are censoring me. You've met me in person before.
Any way, never mind, I tried to warn people before 2006 to sell their homes. No one listens until it is too late to do any planning.
well i feel fortunate,i still have my jobs,my health and my family's health also. my house is paid for in full but taxes,utilitys,maint on the house and my cars and the hustle and bustle theres no quality of life!no time to enjoy life only work, sleep, and wake up and do it again and again and again.
I was talking to the man who sold me the house. I was asking about renting, and if he would like to manage the property. He told me he is selling many houses at this time, but they are mostly foreclosure homes. Those with money are spending money, and making money. With the market being over 9k, and money getting spent. My fingers are crossed we have, or will soon hit the bottom. We won't see the boom we had recently, but it was run on a false economy, and was destined to fail……..i2f
I know that most of your money is made outside the Philippines. I wonder if it is time to take another look at what you could do there as well. Sometimes challenging times force us to look in different directions.
Certainly much easier said than done. 🙂
Hi queenie – thank you, and good luck to you. Thinking negatively or thinking "what if" can really have no positive role.
Hi Jim – What I sell is very "un-recession proof" because sending things to your girlfriend and such is not a necessity. I have shifted some of my products to more necessary items, and that has helped a bit.
Hi Cina – Unfortunately, CNBC is not on here, at least on our Cable system.
shm – Nobody is censoring you. Anytime you post a comment with a link in it, that comment must be approved before it is published. I was already sleeping when you commented, so it had to wait until morning.
I am not and did not censor you. I will say, though, that I totally disagree with most of what you say.
Hi Tom – Actually, I wrote about this very subject about a week ago on my new Auctiontopia blog. Give that a read, and let me know what you think! 😉
The only reason you disagree is because you are not planning for reality, instead you are in denial based on a false hope. Sorry to be so blunt, but I have studied the facts and by making you aware now, you can change and get your planning in gear before it is too late.
Look at this chart:
http://www.jbs.org/images/stories/Article_Images/…
Read this analysis of it:
http://www.marketskeptics.com/2009/03/fed-is-plan…
That was a doubling of the monetary base in less one year (cut the potential value of dollars in half in one year, or much worse considering the multipier effect of the monetary base if credit flows again).
Or more concretely, since Nov. 2008, the Treasury + Fed have added $12 trillion to the national obligations (doubling what took 200+ years to accumulated). It is 10 times more money than was spent on all the wars and New Deal combined in history of our country.
The US savings rate had gone negative, but now individuals are saving again. But instead of allowing the debt bubble to collapse so we can bottom and start again, "Wallstreet" has control of our govt and Fed, and is adding more debt and derivatives that far offset the savings that citizens are doing, and thus continuing to increase the debt load of the country.
But worse than that, Americans were individually doing a pretty good job of misallocating capital by taking out extreme levels of debt and wasting it. Now the corrupt govt + Fed are going to notch up the levels of waste by an order-of-magnitude, because instead of spending the money just on frivolous consumption, the govt is intent on hiring million regulators to stop all business activity. For example, hidden in the upteen stimulus and anti-terrorism bills are new laws that govt must not allow anyone to have a garden without a permit and inspections. All businesses will be required to register with regard to the new carbon tax system. All rubbish, because global warming is a farce. I can prove that also.
Remember the Great Depression had a bounce in the stock market also, then a bounce in economic activity from New Deal spending, but by 1937, the economy was still going down. The years of misery is what drove the world into WW2. And it was the extreme austerity of WW2 (everything rationed), doubling of the workforce (men fighting, women working), and 25% savings rate, along with the govt spending being focused on industrialization (less waste), that brought the USA and world out of the Great Depression.
STOP WATCHING TV! All media is owned by a few rich families. They are programming and polluting your mind.
I can spew facts with references to make your head spin. I have been studying this in detail since 2005, often 10 hours a day. You do not know, I know. Get yourself up to speed. Follow my links and begin your journey towards truth and away from the socialism Nanny-state we grew up in. The USA has been adopting for many years, all 10 planks of the Communist Manisfesto (look it up on Wikipedia).
Ask me questions. I can help. I know the Philippines much better than you do. I lived in a Nipa Hut in a squatter area from 1994 to 1998. I have traveled nearly every island, hiked many of the mountains on every island, have been to many small villages. I know the place of most filipinos I meet. They are shocked when I describe their small village to them.
I prefer to live in nature's reality (Biblical capitalism), not in some Western fantasy (Debt Socialism) which will be popped:
http://americanindavao.com/blog/2009/07/working-i…
It helps when living in Philippines, because people over here live by nature's laws for the most part (they do spend a lot of time in romantic fantasy in their mind, but their economic actions adhere to a brutal reality of nature). Westerners have a massive adjustment to make over the next few years, as their fantasy economic world (financed by an astronomical and unsustainable debt) is brought down to the level of the rest of world.
shm – Don't tell my why I disagree with you, you have no idea what is in my mind. I disagree because obviously my analysis of the situation and yours are totally different.
I need to be blunt again, because you have provided no logic or facts.
Your analysis is a false hope, not analysis based in true facts. Denial and delusion is a "Bad Habit To Get Into".
Present your analysis and I will explain why factually. Bottom line is a debt bubble can not be repaired with a bigger debt bubble, which is what is happening now (the govt is taking over for the consumer in adding debt, which is precisely what Japan did for the past decades of no growth).
I have heard and studied ****ALL**** of the counter arguments.
The only things that I can not know are:
1) The timing and levels of bounces (inflation and deflation whiplash) as we ride down this $1000 trillion ($1 quadrillion) OTC derivatives (as confirmed by the BIS) implosion (which has not yet imploded even 10%, and is now growing again). So your false hope can be "fed" interim, I know for sure the overall outcome over the next years is GREATER DEPRESSION (for the USA at least). The USA is toast and I mean really badly burned (expect widespread riots and machine gun fire by 2012 or so). We will get a sucker's rally here, maybe even to last into mid-2010, then Goldman Sachs will have a field day again with shorting (Paulsen and Geitner and now the CFTC head, any many others in Obama admin etc.. all had long tenures and own stock in Goldman Sachs). The top will probably be 9,800 (maybe 12,000, but unlikely) and the next bottom will 5,000, the ultimate bottom 3000. That is in nominal terms. When we finally enter dollar hyperinflation (when the world jumps from dollar to gold/IMF SDRs), then all prices will go up daily. The few in Davao who listened to me sold at 14,000, or at least before the cliff off 11,000 in Oct. 2008.
CNBC has ALWAYS been wrong, because all the major media are owned by the same rich groups which are raping the country now. Their job is to trick the masses like cows for the slaugher. Where did the $12 trillion go? To the banks who created the problem. And it will continue to be that way, because they own the politicians. Read:
http://www.scribd.com/doc/14465576/Armstrong-MA20…
2) Whether the PTB (powers that be) want a quick hyperinflation or a drawn out inflationary depression (our assets will deflate and our expenses will inflate). Note your house is a liability, not an asset, because it deterioriates and has expenses. Only assets that generate cash flow, are true assets. Since Westerners don't understand this, their "assets" (which are really liabilities) are declining in value. Read more about that (for FREE) from the person endorsed by Donald Trump:
http://www.conspiracyoftherich.com/chapter-i-9
3) The % level of savings (and rate of growth) has been much higher in BRIC countries (China, India, Brazil, Russia), so it is not entirely clear to what extent they can decouple from the certain USA (and probably UK as well) Greater Depression. However, remember that when the UK Pound Sterling died as the reserve currency due to debt overload (as is happening now to the US Dollar), then US suffered from the gyrations and went into a Great Depression, the suffering of which brought the world into WW2. The root cause was that capital fleed from Europe to USA during early 1900s (WW1), which caused low interest rates and speculative bubble (Raging 1920s), which is very similar to what has happened in USA since 1990s (developing world capital sent to USA TBonds to provide cheap credit for American dot.com and real estate bubbles). Yes we are going to have a 3rd bubble, this is the govt forced debt bubble (fascism), which ends in hyperinflation and hopefully in USA ends in riots and disintegration, not in social paranoia unification via Hilter ("I will make you great again") scenario. In my first post in this thread, I enumerated some of the waste in China and Philippines, and that is only tip of iceberg. We are in for another 10 – 20 years of gyrations, some times it will seem things are getting better, but not until all the debt is retired (even if compressed at the end through an extremely temporal austerity window like WW2), will the bottom be reached. We are no where near that globally, as debt loads and derivative levels are still increasing world wide (shifting though to govt from individuals, thus eventually individuals will have savings they want to protect from rapid govt, so we will see gold going much higher as people become more aware of the facts).
This European think tank has been putting out excellent analysis and predictions:
http://www.europe2020.org/spip.php?article608&… (read also the side linked essays) http://en.wikipedia.org/wiki/Leap2020
Also why do Goldman Sachs & JP Morgan (the 2 banks who ate all the failed banks and who are inside the Obama admin), have short position in gold and silver which 100 times out-of-proportion to the concentrated short position in any other commodity on earth?? Not to the mention that the OTC derivative position is 100 times worse, and not to mention the position of Bear Sterns that was going to default and was swallowed by JP Morgan. Why? Because to have a strong bankrupted dollar, you need to keep the people out of gold and silver. Bring yourself up to speed on the archives of analysis:
http://investmentrarities.com/tbarchives.shtml http://silverstockreport.com
(sorry I don't have time to go digging for the most relevent essays in the above archives right now, you can browse them)
I do not write this to pick a fight or be a smart arse. Rather I would like to help people fight back, before it is too late for them (and you).
God bless.
SHM – Based on the fact that you are not even willing to put your name on what you say, you basically have zero credibility. No matter how many studies you post, or how many links you post, you have no credibility, because nobody knows who you are. You are hiding behind a moniker which means nothing. You claim that I know you, that we have met, but I have no idea who you are. If I knew who you were, I would then decide if I thought you had an opinion worth listening to. But, as "shm" your opinion basically means nothing to me, because I cannot judge whether you are somebody that is even worthy of my spending time to fully read what you post. Which, BTW, I have not done, because I am not going to waste my time reading the opinions of somebody who doesn't even have the courage to put his name with his words.
Excuse me, I mean I met Klaus, not you. He used to live in my subdivision if I am not mistaking him for someone else.
Well, Shelby (yes, I know who you are now), you said that you knew me. You said that you had met me. Frankly, I'm tired of your drivel, though….. You've had your say. Enough.
I had no money to begin with so I guess I had nothing to lose. Well I can't really say that but my assets were cash based so my only real worry is inflation which I offset by owning some precious metals. My move to the Philippines was the best thing that ever happend to me so I don't think I ever blamed my problems on that.
And even if you would have stayed in the US, would still have job, earned that millions of dollars, bought that extra houses for investment reasons, all those cars for every family member and what else – it could be very well that you would have had *that final heart attack* already by now. People who can let go, are sometimes much better off…without more worries. 😉
Chris – Your words are like gold! Very true. Who knows what it could be.
Bob
Respect and love
Well Sir BoB I hope your financial situation will turn around very soon. It is always a worry when the breadwinner is only bringing home the breadcrumbs, been there done that.
We have had to make a few adjustments here in the Pines, as my income comes from overseas. Our family consists of 10 people and I've reduced the budget from 15,000 pesos a week to 12,000. We have had to pull together and re-arrange our lifestyles more towards a Pino one rather than the western one we have adopted.
Yet, as I have my morning coffee looking at the glorious ocean, I think to myself, I can still look after ten people in the Pines on a misers income. Back in Oz 50,000 pesos a week wasn't enough to sustain four people in comfort, it left me with plenty of sleepless nights and worry. Now I sleep perfectly well, as I know soon enough times will always get better.
And, of course, you are right. I have even already read it (because your blogs are daily reads for me). My guess is that you will end up doing well. We all just need to re-focus at times. Best of luck!
Dear Bob,
I just found your web sit while looking for information relating to the possibility of spending some time in the Philippines. I have a rental income of about 400-500 Australian, maybe 450-US a week and I was just wanting to know if a person can survive on that much money a week in the Philippians, being careful of corse. I feel you would have a better idea if this is possible so even a short comment of your experienced view on this matter would be greatly appreciated…. Thanks, Rom Stover from Australia..
Hi Rom – You can do quite nicely on $450 or so per week. I don't believe you have much worry at all on that amount. I am assuming that you are single, or at least don't have a huge family. You won't be swimming in luxury, but you can enjoy a nice lifestyle on that income. Enjoy your stay here!
Quite right. This is not a forum we read to depress ourselves, there are many others for that. Let's all be positive and rejoice about what we do have, our health, our loved ones and a sun that rises each morning.
Hi Bob
I know this isn't the place to be posting this but please accept my apologies, your contact us link isn't working. (404 not found)
I have changed service provider recently so I was wondering how do i change my log in details to point at the new e-maill addy ?
thanks
dave
Ps once again accept my apols for posting here but i thought maybe you dont know of the link problem.
Hi Dave – Hmm.. Contact form works fine. I got lots of mail through the contact form overnight (just woke up), and I just tested it myself, it works without a hitch.
I am a bit unclear about your question. You want to change your e-mail address where? You are not registered here on the Magazine site. When you leave a comment, you have to enter your e-mail address, just enter the new one.
You want to change for the forum? Just go to your profile and change it.
If you can be more specific and tell me where it is that you want to update, I will be happy to help you, but I really don't know where you are trying to update.
Hi Bob
youv'e just answered my question lol it will be in the forum profile I need to change it, I have been left trying to rush around changing things here because my new serviceprovider decided i would become active a week earlier than the planned changeover, that was fine but because I will lose all contact with the previous service provider ( e-mail addressess too) I'm pulling my hair out trying to update eveything. I suspect the problem contacting you will be something to do with my side of things, " do you ever get the feeling you should stay in bed somedays". the main thing is your side is working ok. thanks Bob and keep up the good work mate!
Dave
It could be that because of your understanding of the "facts" (one needs to consider the source & accuracy of one's "facts"), that your doom & gloom scenario is faulty. There are a plethora of other "facts" out there that you don't seem to be aware of, or conveniently ignore. But, this forum is certainly not the proper venue for meaningful re-education. Besides, I've found the predictors of doom & gloom are all too often busy watching the sky fall to pay much attention.
you know bob destiny is a funny thing,I believe no matter what you do or where you go in this life, what is meant to happen will happen. we have all done it "what if i had done it this way","what if I had done it that way". Its a little like you said if you had stayed in the USA you could have no job now, times are now a little hard for you there ( I sincerely pray it changes for you) I am sure that if you had not moved to the phils they would have hit you a lot harder, the good thing is you are having problems in a place where you can escape them, walking down a beach etc and one thing that is always apparent in the phils, we westerners quickly forget, how simple life can be.It's a sobering thought but we have to go through some bad times to really appreciate the good times.My advice laugh in the face of your problem demon but make sure he never steals your good time angel.
Thanks for sharing your thoughts, Dave.
I'm glad I came … No questions asked ..Phil n Jess
One of my fiancee's sisters runs a Sari-sari store. She smiles a lot, sells things.
Meaning that positive attitude keeps things afloat remarkably well, goes a lot further than you might expect, even when things get tough.
Agreed.
Does shm have a brother who lives in Bataan? I think I met him if he does. Thirty years ago he went to the U.S of A. to make his forture and now is back living up the street from me, here in Roosevelt Bataan. He got to live in Dan Diego, own a nice house there, retire with a good pention and SSA, now he sits on my wall and tells me what a mess the U.S.A. is, and how is soooo glad to be back home. I asked if still takes the money from that horrable place, as if I disliked it that much I'd refuse the money just to spite them. Ahh the head scratch, was his reply. Then I asked him, how he would feel if I sat on my wall and bad mouthed the P.I.? He now was scratching his head so hard I was worried he's pull out some of the dyed black hair on his head. Now for reason I don't understand, he refuses to speak to me, I am a lucky man!
Hi Paul – Ha ha… luck you indeed! Funny thing is that shm is an American! He certainly has a rambling way, though. Oh well…
WoW1 An American, now that makes me proud! In my Series for the RAO Subic WebSite, my tag line is "We Choose To Live Here" and we all know where the Airport is! I'll go up the street later and say I'm sorry to that guy I spoke ill of. I'll scratch my head while doing it!
Interesting article and subsequent comments about the economy and businesses doing poorly, etc etc. Thank god I don't work here(nowhere in fact, at the moment) otherwise I too may be feeling the pinch. However I do have some remarks about the present state of the economy, the PNP, power bills, election woes, and the country in general. Why is it that as times get hard the price of shabu increases??? Shouldn't it be the other way around!! And the price of bribing your way out of custody increases as we near an election. Meralco increases their costs inversely proportionate to their services. It is my opinion nothing less than a conspiracy likely spawned by none other that the CIA. Oh, Mr. Jim Hannah, you are far too optimistic. Don't you see the black hole we're all headed for on a runaway train.
Are you certain the sun will rise tomorrow??? I have my doubts!!! The lunar eclipse on July 22nd, 2009 could be merely the beginning of the end of the sun. Think about it. Was it coincidence or did someone manuever the moon into position that day. Oh God….what next
I think Jim Hannah is actually one of the charachters from the Monty Python series. Michael Palin. Am I correct??
“The grass is always greener on the other side” LOL
For sure!