January 1, 2012 at 12:00 am #171520crhomebuilderMember
I’m impressed that the mananaville politicos are preparing for the future beyond today[url=http://translate.google.com/translate?hl=en&sl=auto&tl=en&u=http%3A%2F%2Fwww.nacion.com%2F2011-12-29%2FEconomia%2Fbanco-central-busca-aumentar-reservas-ante-eventual-crisis.aspx]Your text to link here…[/url]January 1, 2012 at 7:37 pm #171521aguirrewarMember
This has to happen but the funny part is:
“The Central Bank Law has several options: surcharges on imported goods, global limits on credit growth, forcing exporters to sell their currency to the Central Bank increased reserve requirements more than 15% and set intermediation margins (the difference between rates for savings and loans).”
But why did they wait for the FLAME to come so close to the house when they knew about this problem 5 years ago and could have stop it COLD on it’s tracks, another Greece in the making???January 2, 2012 at 4:51 pm #171522*LotusMember
As an interesting aside to those of you preparing for a worldwide systemic collapse; the story of Apple’s third “founder”-Ron Wayne.
In the early 70’s he was what is commonly referred to as a “gold Bug”, he advised buying and holding onto physical gold. Though he seems genuinely content with his life, his belief cost him billions. 12 days after filing Apple Company papers, he removed his name from the filing. One reason was attributed to his belief that a total economic collapse loomed.
Mr. Wayne has (so far) outlived his dire predictions.January 2, 2012 at 8:32 pm #171523spriteMember
According to your link, the article states that he left Apple because of a desire to avoid exposure to the risk of property loss. It mentions nothing of him being a gold bug or believing in an imminent societal collapse, although, fear of property loss would have steered him to gold. However, even if this is the case, it would only show that he was off in his timing. Apparently, timing was not his strong suit.
Gold bugs have done quite well in the last 35 years. In fact, Gold has never gone to zero value in human history whereas paper has done so many, many times. In fact, paper has ALWAYS gone to zero value throughout history. This one, simple fact alone should be enough to make anyone reconsider his paper investments…especially now.January 3, 2012 at 1:14 am #171524clewisMember
May be off topic, but if CR property owners don’t adjust their selling prices so people can afford to buy they will be holding that property forever. The situation in the US is such that folks can’t sell their homes and get the equity needed to buy elsewhere. I’m not saying that the US dictates all in CR, but IMO prices of real estate in CR need an overdue realistic adjustment. It seems that Panama has created programs to welcome retirees and CR is doing the opposite. Today “InsideCostaRica” predicts a bad economic year for 2012 with no relief in sight. Just my 2 colones.January 3, 2012 at 1:27 am #171525maravillaMember
a lot of people i know HAVE adjusted their homes’ selling price to reflect the current market — but nobody wants to sell at a loss. when i built my house it cost me $38 a sq foot. the price now is $75, so the people who built in the last 3 or 4 years paid double what i did. and if you have to take equity out of your primary residence to buy a second home you really can’t afford to do that no matter how you look at it. people WERE doing that but it was never a good idea to begin with.January 3, 2012 at 1:48 am #171526clewisMember
Whatever. What I meant by equity is people selling in the US to buy in CR. JEEZ, take a pill. End of my post on this topic.January 3, 2012 at 1:52 am #171527maravillaMember
that isn’t what you said. and what was actually happening 5 – 7 years ago was that people WERE taking equity out of their homes to buy in Costa Rica.
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