Peso Hits 16 looking for 14 maybe faster than we think...

gringoloid says on Jun 6, 2008, 10:27:

this is really great. just the news i needed. my screen says 1699.550 at 12:30PM

why is life so unfair?

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GregYohn says on Jun 6, 2008, 10:29:

Hola!

Thanks George W!

12VOIP.com gives free calls to Colombia.Greg

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Waterdawg says on Jun 6, 2008, 10:31:

Just came back from a sales trip ( expo ) in Dallas .. Two points # 1 , it is like someone just turned off the water facet .. I never seen so few buyers at a show in my life .. # 2 The few that did show up just said we were to high ( price ) .. Strong Peso / Weak Dollar , can't compete..

Bottom line , a bunch of Colombians will be looking for work in the coming weeks .. If the Colombian Govt. dosn't step in soon , the oh so popular President is going to be oh so Popular !!!!

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viajero123 says on Jun 6, 2008, 10:34:

There is very little the Colombian president can do to change the supply of dollars in the country. Oh wait, maybe he could expropriate some American companies Chavez style so everyone takes their money out of the country, that would bring the peso down again!

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ColombianoGringo says on Jun 6, 2008, 10:41:

Ugh! I remember that not too long ago earning in dollars was considered a good thing. We are so fucked.

WD, It seems like you're not the only one feeling this.
http://elespectador.com/noticias/negocios/articulo-revaluacion-del-pes...

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gringoloid says on Jun 6, 2008, 10:47:

What a wild day in the markets too. The real question is, will Bush go into Iran before leaving office? The way I figure it if he does, it would have to be before or during August. Otherwise McCain will take the job over.

Many top military men being relieved of duty right now, including Admiral Fallon commander of CENTCOM, removed during the Spitzer episode. He said publicly, 'there will be no invasion of Iran on my watch", and, "i'm trying to put the crazies back into the box." I'm only surmising that they're being removed as a result of their opposition to a siege of Iran.

I know what will happen to gold and oil..........but I wonder what will happen to the dollar/peso relationship if there is an attack on Iran. Any thoughts?

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Bill Turley says on Jun 6, 2008, 10:48:

CG You are so right. When I started to get my pension it was about 2800, I have recieved almost a 50% pay cut

Mr. Bill Somondoco

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ColombianoGringo says on Jun 6, 2008, 10:50:

According to a few sources, this week's sudden drop can be partially attributed to large tax payments by multinationals that have to bring in dollars to make these payments. Also, they cite the increased foreign investment in the Colombian oil sector as another potential cause.

http://www.portafolio.com.co/economia/finanzas/2008-06-06/ARTICULO-WEB...

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ColombianoGringo says on Jun 6, 2008, 10:52:

If this continues to get worse, I will have to seriously cut back on my frequent trips to Colombia. As much as I love to go, it is continuously turning into a losing equation between the strong peso and the ever increasing airfares. It makes no sense when I can go to other destinations for less overall cost.

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gringoloid says on Jun 6, 2008, 10:55:

CG, you may visit less frequently but I may be forced to leave this country I love so much.

I can tolerate this for a year...........but after that, no way!

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ColombianoGringo says on Jun 6, 2008, 10:56:

Yep. I would imagine that it must be getting very difficult for someone on a pension or similar financial situation. I would be happy if the dollar was around 2,000, but I suspect that won't happen for a long time, if ever.

Also, my plans for buying a new place in Colombia will certainly go on the back burner,

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panthdave says on Jun 6, 2008, 11:08:

USD-COP 1696.8500 -11.9000 -0.6964% 13:53

Rocket Fuel man.....I really think Colombia will not take a hit....on a strong Peso. I think they will be fine and yes might be some jobs lost but not as many as you think...

panthdave Miami

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rocinante says on Jun 6, 2008, 11:09:

Yes lets thank George Bush for Colombia's surging economy and political stability. (((extreme sarcasm)))

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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Chriscan says on Jun 6, 2008, 11:13:

My fault - all of my money gets converted to pesos.

************* WARNING ************* my words often come from my ass

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morphus says on Jun 6, 2008, 11:23:

The Euro is at 2,676.00 COP. Was'nt it 3,000.00 not too long ago?

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miamimike says on Jun 6, 2008, 11:24:

So lets get this straight, first Bush leaves afghanistan for Iraq --UNFINISHED--and now wants to leave Iraq--Unfinished for Iran. Is this Guy Insane??
Rociante--How is Bush responsible for Col's Economy?? And Security? Lest we forget, Plan Colombia was iniated under Bill Clinton,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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rocinante says on Jun 6, 2008, 11:31:

Miami,

I was addressing Greg Yohn in this thread (2nd post) and other yahoos who:

1.) Think the US president controls the Federal Reserve
2.) Think that the US president actually runs the US

Although both statements are extremely naive most people have no idea about #1 and are convinced of #2.

The Colombia Peso is gaining on the USD for 8 years because of George Bush? Get a grip.

Plan Colombia was initiated under Clinton and that sure helps. But it's not everything. Lets try and give Colombia some credit.

Also the fact that Colombia is the the #1 South AMerican ally of the US is huge.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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miamimike says on Jun 6, 2008, 11:35:

Thanks Roc- Got you now.When someone attacks my Main Squeeze, GWB, I patriotically leap to his Defense...LOL

On a more somber note, our many COL cut flower importers here in Miami will be crying over this increased Peso. Many already are,,,

One thing I think Bush is guilty of here related to the US, he hasn't used the power of his office(bully pulpit) with the Chinese in pressuring them to truly float their Currency thereby leveling the playing field. Some will say the Chinese are floating their Currency but not really, its hardly budged since they made that claim. Other countries could do the same, let the Chinese know if they don't act on it, Imports to their respective countries from Mainland China will decrease. Prez Reagan did this with the Japanese on large Displacement Motorcycles in the late 80s and it worked then. The Japanese were flooding the US with Goldwing size like Bikes at below production costs. Reagan said if you don't stop like now, we(usa) will slap huge import tariffs on your Bikes. Result--the Japanese relocated their Motorcycle factories(Honda, Kawa, Yamaha ect) to the USA to avert this Tariff.The tariff was going tobe placed on all Jap Bikes over 750CC's if I recall correctly. Next, as we all know, Japanese Car factories soon followed.a few years later. 1000s of good paying US Jobs were created in the process so it can work. Reagan was not worried about being Politically correct, he was worried about doing the right thing for the US Economy and its workforce.

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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rocinante says on Jun 6, 2008, 11:36:

"The Euro is at 2,676.00 COP. Was'nt it 3,000.00 not too long ago?" morphus

Yeah, George Bush is the mastermind behind Colombia's overtaking of the Euro as well.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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morphus says on Jun 6, 2008, 11:39:

I say bring back Jimmy Carter then :)

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morphus says on Jun 6, 2008, 11:49:

By Andrea Jaramillo

June 6 (Bloomberg) -- Colombia's peso rose beyond 1,700 per dollar for the first time in nine years as investors increased bets the central bank will lift borrowing costs after the release today of minutes of last month's meeting.

Policy makers discussed ``the need to bolster the monetary authority's credibility as a way to anchor inflation expectations, given the possible side effects of international food and fuel prices,'' according to the minutes.

The peso gained 0.6 percent to 1,698 per U.S. dollar at 1:16 p.m. in New York, from 1,707.5 yesterday, according to the Colombian foreign-exchange electronic transactions system, known as SET-FX. The currency earlier reached 1,696.2, the strongest since June 21, 1999.

To contact the reporter on this story: Andrea Jaramillo in Bogota at ajaramillo1 at bloomberg.net

Last Updated: June 6, 2008 13:22 EDT

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nine inch nails says on Jun 6, 2008, 11:50:

"Also, they cite the increased foreign investment in the Colombian oil sector as another potential cause."

That's interesting and makes sense! Thanks GL.

Regarding ADM Fallon I believe he voluntarily resigned versus being "relieved for cause". Now the 2 Air Force top dogs (er now bottom dogs) did resign but was forced by Sec. Gates so might as well of been "relieved for cause". Those nimrods had a B-52 fly with nuclear tipped missiles fly intracountry and nobody knew about it as it was happening. THey deserved to be relieved! And they say many more AF to be relieved also.

Regarding Iran I don't think the US is stupid enough or has enough ground forces to go into Iran so we will just wait until they nuke Israel then wipe em off the map. Seriously Admaminijad scares the fok out of me. I bet they're building nukes as weapons.

Ok sorry but back on the COP v. dollar yes it will hurt CO as the U.S. is/was the most closest trading partner with any significant amount of $$. On a small scale checked hotel rates yesterday and no thank you I won't pay $110-$140 there any more for a 4 star . Can get the same for less money in Miami over 4th wknd. and last I checked on Craig's list plenty of eligble ladies!!!!!

I sorry Colombia.

"They know nothing, they know nothing." J. Cramer

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Bill Turley says on Jun 6, 2008, 11:51:

He seems to have come back from Habitat for Humanity oblivium.
I will be totally in the black in 6 months I hope the dollar holds on that long

Mr. Bill Somondoco

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panthdave says on Jun 6, 2008, 11:52:

Miami Mike there not crying they will just buy from Ecuador...thats all...but a strong Peso will not hurt Colombia as many think..Strange.. I remember in 1992 or 1993 was 3.5 Peruvian Soles to the Dollar now for many years under 3 and there fine...maybe even better..and Cusco is full of tourists...so I really think Colombia will be fine with a strong peso and maybe even better...

panthdave Miami

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miamimike says on Jun 6, 2008, 11:57:

PD--my Col neighbor here in my Condo complex sure is crying! His business deals in importing cut flowers from HIS extended Col Family, NOT from someone in Ecuador. He informed me many of the Miami Rose importers located in the west off airport Businees districts area have the same arrangement his family does.Its like a huge pipeline between Bogota to Miami.

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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Tinto (Moderator) says on Jun 6, 2008, 12:06:

Well, if you build a business with...

- one customer (US importers)
- and that business exists solely because of favorable unilateral tariff treatment (the Andean Trade Preferences Act and its many extensions)
- and the exchange rate with that customer changes significantly
- and your products are commodities (interchangeable) and can be sourced elsewhere

...then I hope they made lots of hay while the sun was shining. Your neighbors ought to be lobbying to deny Ecuador an extension of the trade deal.

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panthdave says on Jun 6, 2008, 12:06:

Well changing times..They need to buy from Ecuador and survive...Because I am in the Corporate Event business here in South Florida..All our floral boxes say Ecuador right now....Colombia needs a strong peso to become a major player and get there currency strong a risk and will have downfalls but overall that strong currency will do good...

panthdave Miami

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rocinante says on Jun 6, 2008, 13:20:

The strength of the Colombian Peso is a direct result of Colombian political stability and Colombian economic growth. Couple that against a weak US dollar (Thanks Ben!) and the COP just gains all that much faster. When the US comes out of this funk in a few years the COP is not going to just nose dive.

Many here think that the COP is gaining because the US is in a slump and that when the US starts creating jobs and raising rates and creeping back that the USD is going to be pulling in over COP 2000 and everything will be like it was 3 years ago.

I've got news for ya.... There are two sides to every FX rate.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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rocinante says on Jun 6, 2008, 13:22:

Or Peter can grow some balls and delete every ID created in May and institute a real policy to eliminate duplicate IDs. He has my email.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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rocinante says on Jun 6, 2008, 13:23:

By the way this is the 2nd post by PanthDave re: the peso.

Some of us here are happy that Colombia is doing better and being considered a player in the world economic market. This is a Colombian forum. A country's currency is a decent measure.

"World economic indicators point to a democrat winning 2008. It will surely be Obama. Peso 1400 by November" Feb 5, 2008

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panthdave says on Jun 6, 2008, 13:32:

Bien Jefe Zeus. Personally I have no investments that will credit me..but you know I have not talked about the Peso for a long time...except for the last week which I think is interesting times..

Personally you don't have to click the thread subject and skip this subject..if your not interested Zeus when you see the subject line Peso don't read go to the subjects your interested in. I wonder why you clicked anyways to read.. So just skip over to another thread.

panthdave Miami

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nine inch nails says on Jun 6, 2008, 13:50:

I agree with PanthDave.

"They know nothing, they know nothing." J. Cramer

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viajero123 says on Jun 6, 2008, 14:01:

I agree with PanthDave.

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Bill Turley says on Jun 6, 2008, 14:02:

Why do you guys alway get off the subjects and make it personal? Amiable discussions is what I come here for, the friendly exchange of ideas AND opinions

Mr. Bill Somondoco

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ColombianoGringo says on Jun 6, 2008, 14:02:

It's not like panth is gloating about it. He's just expressing his opinion.

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kat1 (Moderator) says on Jun 6, 2008, 14:03:

Dólar rompió, este viernes, la barrera sicológica de 1.700 pesos: cerró a 1.694,10

El promedio de la divisa fue de $1.702,02. El precio mínimo quedó en $1.691,25 y el máximo $1.707,02. Así se cumplieron los temores de varios sectores económicos, principalmente los exportadores.

Un sector de analistas cree que esta baja continuará, mientras otro supone que el precio se debe a la especulación. Empresarios están preocupados por recorte en empleos y piden reacción del Gobierno.

Eso acercó a la moneda a niveles frente al peso que no se veían desde junio de 1999.


http://www.portafolio.com.co/economia/finanzas/2008-06-06/ARTICULO-WEB...

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gringoloid says on Jun 6, 2008, 14:30:

I have to agree with Bill about taking things personally and then attacking over something like a comment. Poor moderation is the real cause though.

Lot of us on a fixed income.....or like me, no income, find these currency exchange threads helpful. Even if it is to just vent.

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panthdave says on Jun 6, 2008, 14:32:

Zeus
1.I am not here to push this in peoples face who earn dollars in which my income is in dollars and I am getting hurt by this financially. I am trying to point I think its time for Colombia to come out of the Third World and become a major player and have a strong currency.
2. Countless Messages in the last week under the Peso Subject I don't count many and if I did oh well in the last week the Peso has hit numerous posts everywhere on the Web.. Now on PBH Subject Posts if you want to check my history go ahead I have three posts on the Peso out of the last 25 for the last year so I don't know where your getting this from.
3. I am in Miami but spend half my time in Medellin which is very important to me now. My household in Medellin has income in dollars and in Pesos. I work for company in Miami and my fiance has a job in Medellin.
4. Zeus the way you sound all you care about is your dollar to peso so you gain and you are pissed off because your dollar does not go far anymore. I rather see Colombia grow to a major player financially like a Brazil or Mexico. There is downfalls but you know what I will change my budget and adjust to the stronger Peso because I am happy and enjoy my life in Medellin.

panthdave Miami

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ColombianoGringo says on Jun 6, 2008, 14:34:

The problem is that many people simply can't accept opposing opinions. There are many people whom I respect despite ardently disagreeing with their viewpoints.

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gringoloid says on Jun 6, 2008, 14:47:

yea, cg, thats right, and it tells you a lot about the person that attacks. i rarely open a thread by pow wow because of the meaninglessness of it all. I wish people that can't take my opinions would do the same with me.

i've said it before: .......we can do OUR OWN moderating here.

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Desideria (Moderator) says on Jun 6, 2008, 14:55:

Zeus account has been deleted. He's a returning troll with a past history of multiple deletions. You guys should have flagged his posts as soon as you discovered that he was a newbie trolling.

"When shall we three meet again? In thunder, lightning, or in rain?"(First Witch in Macbeth)

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Bill Turley says on Jun 6, 2008, 15:19:

Good Information Desideria

Mr. Bill Somondoco

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panthdave says on Jun 6, 2008, 15:27:

Well now I feel like an ass/donkey/bobo responding to troll.....

Thanks Desi....for alerting me...

panthdave Miami

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gringoloid says on Jun 6, 2008, 15:45:

thanks for the info................i didn't know he was trollin either.

i looked through the new accounts page the other day and what i saw was frightening.

dozens of new accounts everyday. there can't be that many legitimate signups. medoblado may be stocking up.

there is an account there called 'raaygay', ...that would have to be medoblado.

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Desideria (Moderator) says on Jun 6, 2008, 15:56:

No, gringoloid, he wasn't.
And yes, we do get about a dozen (or more) legit signups a day. I browse the newbie list too, time after time. ;) But yes, there are a half dozen trolls I keep my eye on.....

"When shall we three meet again? In thunder, lightning, or in rain?"(First Witch in Macbeth)

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ColombianoGringo says on Jun 6, 2008, 16:03:

What a pain.

Roci, Out of curiosity, what method did you recommend for avoiding multiple signups?

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miamimike says on Jun 6, 2008, 16:21:

Regarding Iran I don't think the US is stupid enough or has enough ground forces to go into Iran so we will just wait until they nuke Israel then wipe em off the map. Seriously Admaminijad scares the fok out of me. I bet they're building nukes as weapons.

Ok sorry but back on the COP v. dollar yes it will hurt CO as the U.S. is/was the most closest trading partner with any significant amount of $$. On a small scale checked hotel rates yesterday and no thank you I won't pay $110-$140 there any more for a 4 star . Can get the same for less money in Miami over 4th wknd. and last I checked on Craig's list plenty of eligble ladies!!!!!

I sorry Colombia.
===================================================================

9" nails--when it comes our WH Boy Wonder, GWB, never underestimate his capacity on the stupidity scale.Just when you and most logical people think he couldn't do something to Top Iraq, he'll fool you! And just maybe, he'll attempt to invade Iran.LOL

I also agree with you on the $100-$140 nighly Col Hotel rates. Those figures are absurd to put it lightly as rates outside Disney in Orlando can be had for $40 nighlty or lower rates at many nice hotels/motels in St Petes, tampa, Jacksonville ect can be had for less then that $100-$140.I would never pay that Price! Yes there are Tabernas full of Colombian Ladies right here in Miami if thats the objective,,,

"Wait a minute. What did you just say? You're predicting $4-a-gallon gas? That's interesting. I hadn't heard that." -- Feb. 28, 2008 --George W. Bush, Washington, D.C.

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Bill Turley says on Jun 6, 2008, 16:49:

About Iran If the US is smart they will wait for Israel to attack then go to their aid with air and sea power

Mr. Bill Somondoco

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expatriate says on Jun 6, 2008, 16:54:

Dick Cheney has his money invested in Euros. As long as Dick Cheney makes money, that is all that matters. Malignant narcissists don't care about anyone else, as long as they have enough money to feel comfortable.

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tejasmarcos says on Jun 6, 2008, 18:47:

cheney will drop dead of a heart attack soon. i hope they burn him in euros at the funeral....

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 19:36:

With the current exchange rate, and future possibilities, I am seriously reconsidering not investing in Colombia, not that Uribe will lose much sleep about my few pennies.

It seems that, in addition to the unfavorable exchange, with stupid business people, an almost un-negotiable banking system and nearly impossible immigration that I read about here, it seems that maybe it “just ain’t worth it" .

I have a rather low tolerance for "chicken shit", and have been seriously tested here in Panamá .

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tejasmarcos says on Jun 6, 2008, 19:42:

there will be anothercycle sloop. besides that, colombia is a big country - deals to be had in alot of pueblitos...

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 19:45:

Thanx Tejas, but I don't want to be in pueblitos. Only on the sea. And I HAVE to get outa this country, soon!

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tejasmarcos says on Jun 6, 2008, 19:49:

lots of places on the sea as well, yet undiscovered.

porque no te gusta panama no mas?

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 19:52:

But they are not so easy to discover, from long distance. I was planning to go to Santa Marta next month, but I am even losing interest in that, with this recent exchange rate.

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tejasmarcos says on Jun 6, 2008, 19:55:

leaving panama - why? tired of torrijos?

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 19:56:

Why don't I like Panamá any more? I did not like it s few weeks after I stupidly moved here. It is a horrible, boring place.

The people are nice, and the weather agreable, where I live, but that's it.

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tejasmarcos says on Jun 6, 2008, 19:58:

jajajaja. yep, i was there 6 months in 2006 and almost bought a place from procasa. hot, dirty, loud, touristy & terrible service everywhere you go - except jimmy's steakhouse.

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 19:59:

I have little opinion about Torrijos, and the other crooked politicians, they have not so much effect on me, as far as I know.

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tejasmarcos says on Jun 6, 2008, 20:01:

fun for a few days, then you gotta get out of there. no real culture in my opinion...

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 20:01:

I live next door to Jimmy's, Coco del Mar/San Francisco.

Almost across the street from ATLAPA

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tejasmarcos says on Jun 6, 2008, 20:03:

i like their steak with garlic clove cooked right in it. que rico!

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 20:04:

No culture? You could say that, and not much of anything else.

Nix, nada, nothin'.

It makes me foken crazy, after Viejo San Juan.

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sloopskipper says on Jun 6, 2008, 20:06:

Estillo Angelo

Yes, is great, and I get 25% discount as jubilado, only $9.75.

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tejasmarcos says on Jun 6, 2008, 20:07:

come to colombia - see santa marta, covenas and la guajira. then see santa fe, jardin, jericho, sopetran and pretty much all of antioquia........ i'm working on the rest.

trying to walk a straight line on sour mash and cheap wine...

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sloopskipper says on Jun 6, 2008, 20:07:

For a more than year and a half I ate there almost every night

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sloopskipper says on Jun 6, 2008, 20:09:

But, I think that I will toddle off to bed.

Buenos noches!

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tejasmarcos says on Jun 6, 2008, 20:09:

their service is exceptional. there is another little mexican restaurant a few blocks from the old veneto - excellent as well..... enchiladas divorciadas - rico! can't remember the name...

trying to walk a straight line on sour mash and cheap wine...

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BillBigD says on Jun 7, 2008, 12:15:

hot, dirty, loud, touristy & terrible service everywhere you go-panama city is probably my least favorite of all Latin cities

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Atrevido says on Jun 7, 2008, 16:04:

According to El Pais there´s been a recent big dollar investment in mining on the north coast that has helped the dollar to drop.

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BillBigD says on Jun 7, 2008, 17:52:

Very Intersting Atrevido Thanks

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Ctg Bound says on Jun 7, 2008, 18:13:

The Peso was way over sold in 2002-4, so there was going to be a pull back, when the economy started to improve that added to peso strength.

With commodties prices rising and more money coming into Colombia, mostly investing in commodity areas, there is only one way for the Peso to go overall for the last few years and now.

Looking at other Countries, with large commodity exports you will see the same think happening, as long as the Country is not run by idots, like Ven for example.

I posted out Marchs trade suprplus recently:

http://poorbuthappy.com/colombia/post/colombia-march-trade-surplus-ris...

The above is purely down to the rise in commodity exports, wether the peso will keep rising as rapidly as it has been I can't see it, although I don't see any seriouse Peso weakness presently.

We shall have to wait and see.

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goin_south says on Jun 7, 2008, 23:06:

I saw '1647' today.

Where do we go from here?

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panthdave says on Jun 8, 2008, 04:24:

Peso can only get stronger right now. They need to do is let the Peso get stronger at a slower pace...I really see Colombia standing on there two feet in the future without outside help which is about time...Problem I am having is Uribe really wants the Peso to weaken in which he has good points to deal with current issues but he needs to let it ride so Colombia overall in the future will do better.

panthdave Miami

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Ctg Bound says on Jun 8, 2008, 08:15:

panthdave,

Its gone up to quick thats all, but thats normal, it really goes as politicians or exporters would like.

When the peso started its present slide in 2002 when it was around 2000 pesos to the dollar many of the exporters should not have solely relied on selling overseas purely based on a weakening peso, but such is life.

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tigredelnorte2 says on Jun 8, 2008, 09:16:

A weak peso is good for the Colombian economy. It brings foreign investment, and foreign purchase of Colombian goods and services.

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Ctg Bound says on Jun 8, 2008, 09:30:

tigredelnorte2,

The opposite is true, otherwise the Countries with ever weakening currencies would be the best, the fact is the reverse is true, better to have a strong currency with good productivity, otherwise companies are not forced to get their act together if the currency is forever weakening and generally solely rely on the weakening currency to export their goods.

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gringoloid says on Jun 8, 2008, 11:18:

The balance of trade is the most misunderstood of economic indicators. It is always used with caution because used alone it doesn't mean much. It is relative to other indicators.

For example, many people believe that a trade deficit is a bad thing. Whether a trade deficit is bad thing is relative to the business cycle and economy. A trade deficit is not a good thing during a recession but may help during an expansion.

So for March there was a positive trade surplus but the Colombian Industrial Production Index for March told a different story, down sharply over 8%.

Mar Prior
Industrial production index Mar/08 127.9 139.2 -8.1%

For now though, Colombian commercial and consumer price indexes are only up slightly and unemployment is unchanged in Colombia. Might be awhile for a change.

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gringoloid says on Jun 8, 2008, 11:37:

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Ctg Bound says on Jun 8, 2008, 15:15:

gringoloid,

I REALLY pay attention to monthly figures, there were aprox 10% less working days in March this year due to Easter, as Easter fell in April in 2007. Which would account for the fall, better off with 3 monthly or even better 6 monthly figures.

As to the trade balance, I was pointing out the growth in value of commodities in the figures.

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gringoloid says on Jun 8, 2008, 16:44:

point taken, as that was a couple of months ago and not part of the recession in the states............we still have some time to go.

this appears to be an orderly downturn. i have no further comment until after election day or maybe an attack on Iran this summer.

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gringoloid says on Jun 9, 2008, 05:07:

i pay attention to figures also and have constructed indices.......they would have to be 'seasonally adjusted'.

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Ctg Bound says on Jun 18, 2008, 05:35:

Colombia's industrial output up 9.82 pct in April

BOGOTA, June 17 (Reuters) - Colombian industrial production rose 9.82 percent in April compared with April 2007, driven by chemical products, clothing, food goods and plastics, the government said on Tuesday.

Output for the first four months of the year grew 3.49 percent compared with January-to-April a year earlier.

Colombia's economy grew 7.52 percent last year as better security attracted foreign investment and bolstered domestic consumption. The government expects the economy to grew 5 percent this year.


LINK: http://www.reuters.com/article/economicNews/idUSN1743560620080617

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