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This will be good news to some foreign expats residing here...."the local peso is predicted to continue its decline"

Certain currencies (USD/SGD/other) exchange rates have been steadily on the rise over the last few weeks & it is predicted that the peso will get even weaker in the coming months/years.

I'm sure that will help offset some the local inflation which is happening right now.

- @manwonder

As the Peso gets weaker,

I thought of sending some more money to not miss an additional bargain - but perhaps I better wait.

the cost of the importation of raw materials or finished products gets more expensive. It could end up being equal or tilted slightly.

No problem for my business by we produce (big part) the raw material step too ourself    and if we want to we can chose to export our end products.

The real losers are the wage of workers, per example if the price of gas goes up, does the wage of the attendant go up? Or shopping at the mall does the wage of the salesperson increase?

- @Enzyte Bob

@Enzyte Bob are there Costco in the Philippines?

This will be good news to some foreign expats residing here...."the local peso is predicted to continue its decline"

Certain currencies (USD/SGD/other) exchange rates have been steadily on the rise over the last few weeks & it is predicted that the peso will get even weaker in the coming months/years.

I'm sure that will help offset some the local inflation which is happening right now.

- @manwonder

@Enzyte Bob are there Costco in the Philippines?- @sekmet

@Enzyte Bob Thanks Enzyte Bob!  This info is very helpful!  BTW: 3 pounds of coffee at Duncan Donuts in Asheville North Carolina is about $23 USD, so about the same price as Kirkland coffee.

it will cause hardship for Philippino's .

- @mahi948

@Enzyte Bob Thanks Enzyte Bob!  This info is very helpful!  BTW: 3 pounds of coffee at Duncan Donuts in Asheville North Carolina is about $23 USD, so about the same price as Kirkland coffee.

- @msmichaelstinson161

@sekmet I think SnR is Costco. Have seen Costco on products there.

@coach53 I have added about 8 jobs over the last year but only because I am expanding our two houses in Valencia NO and Siquijor. We could run a business with our SRRVs but we do not wish to make money off the backs of poor people. Of course "tourist" 9A visas cannot legally be in business here so your advice could not apply to the majority of people in this group as I am sure you will agree

@coach53 I have added about 8 jobs over the last year but only because I am expanding our two houses in Valencia NO and Siquijor. We could run a business with our SRRVs but we do not wish to make money off the backs of poor people. Of course "tourist" 9A visas cannot legally be in business here so your advice could not apply to the majority of people in this group as I am sure you will agree

- @danfinn

Yes I agree but 9A can still FINANCE businesses to add jobs      if have someone who can handle it.

You dont need to earn using the poor. You can do as I   

Main is to spend incomes at EXBANDING until reaching the max employees we manage to handle. How many depend of how many good enough to want to give the chance, and depend of how good they will be at manage themselves after got instructions.  If not to complicated most of them are good allready AFTER reaching max employees and everything are paid, we can start thinking of paying them better regularly.

FORMALY a rather big part of profits will belong to me BUT I plan to reinvest all anyway* and a reason to be formaly mine is to avoid the risk they can screw up to much until I know they will not   

BUT it isnt ugly to earn some yourself too      as long as the poor gain more by it than they would get without.. 

USD has just breached 56pesos & still seen climbing daily.

SGD just breached its all time high and now sits at 40pesos.

The euro however briefly dipping its closest to parity with the USD since 2002.

Time for me to shop around specifically for local fire sales.

- @manwonder

There have been some years with extreem "fire sales"  at real estates

USD has just breached 56pesos & still seen climbing daily.

SGD just breached its all time high and now sits at 40pesos.

The euro however briefly dipping its closest to parity with the USD since 2002.

Time for me to shop around specifically for local fire sales.

- @manwonder

There have been some years with extreem "fire sales"  at real estates

specialy at tourist related, but at some other too, because of covid. But I GUESS the time for the most extreem bargains at tourist places have passed by borders have opened and them in financial stress I suppouse were sold before that anyway.   (I havent checked recently by I am not interested in tourist places for myself, but earlier I happened to see some extreem bargains , when I looked for other type,e g  some resorts for sale for as low as close to single common villa prices!  And one with pool rather posh hotel rather easy rebuildable to a 10+ room villa.

- @coach53

@Enzyte Bob Govt Survey today shows that Filipinos want help to reduce Inflation, while also wanting higher wages. Can't have both. Higher wages will feed Inflation. And, Govt Mandated Wage Increases mean nothing, cuz there are enough unemployed who will work on the Market Prevailing Wage, or not be hired. Feel sorry for locals, but this all helps us USA expats with Fantastic Exchange Rates now, and over next year or two. My Social Security COLA will more than offset any local increases, as long as I watch and reduce my discretionary Imported item purchases.

@Enzyte Bob Govt Survey today shows that Filipinos want help to reduce Inflation, while also wanting higher wages. Can't have both. Higher wages will feed Inflation. And, Govt Mandated Wage Increases mean nothing, cuz there are enough unemployed who will work on the Market Prevailing Wage, or not be hired. Feel sorry for locals,

- @talamban

and many employers dont even pay as "much" as the law minimum salaries!!!  (=Around 7000p per month in provinces before the raise.)

*It wouldnt suprice me if the governing dominated by rich and their friends, screw up on purpouse with screwed up business financing programs "for poor" and having law which work AGAINST foreign investors and businessmen to start in Phils.   ((But I started anyway because I like challenges   

If they dont screw up purpouse, then they are stupid      Its common politicians are stupid/greedy in our home countries too.

@coach53 As long as Education is not a priority - or a possibility - for young Pinoys, the situation will not change. It is also the case where I was born, In Louisiana and neighboring State Mississippi USA. Both lag in education levels, and consequently both have lowest income levels. I always encourage any local to get as much Education as they can. Unfortunately, many or most leave home in The Province  as young as 14 years old to take jobs as housekeepers or caregivers in the Cities so they can send money back to family for food and medical expenses.

@talamban Shhhhhhhh!  shush >>>they are listening... keep it a secret.. hehe

@coach53 As long as Education is not a priority - or a possibility - for young Pinoys, the situation will not change. It is also the case where I was born, In Louisiana and neighboring State Mississippi USA. Both lag in education levels, and consequently both have lowest income levels. I always encourage any local to get as much Education as they can. Unfortunately, many or most leave home in The Province  as young as 14 years old to take jobs as housekeepers or caregivers in the Cities so they can send money back to family for food and medical expenses.

- @talamban

Education add chance, BUT many even College/University examed Filipinos DONT get any good job in Phils anyway, so they have to become OFW when they dont want to too, which is very sad specialy when they have small kids 

. .

An other solution could be if politicians dont screw up again, programs for poor to get access to business start capital.  Some poor are street smart and have capacity to succeed if they get a chance.

@coach53 When I travelled here for business in early 80's, all office women in Manila/Makati had matching uniforms, except maybe one day a week they had a Free Fashion Day. I was told that it was so that the poor ladies were not distinguished or discriminated against if they were poor and could not afford nice clothes. I always enjoyed seeing them in their uniforms, usually different colors, but always coordinating the same color for each day of the week. As I remember, the monthly wage was about the same then as now - About $200. Don't remember the exchange rate. In Louisiana I attended Catholic schools for Elementary and High School. Khaki pants and shirts with a black tie for Elementary. High School - All Boys - we were required to wear a white shirt, tie, and a "Distinctive Green Blazer". I never minded and continued to wear a suit or jacket in my early business days; and a colorful "Tabasco" tie, while others wore open collar golf shirts.

@coach53 When I travelled here for business in early 80's, all office women in Manila/Makati had matching uniforms, except maybe one day a week they had a Free Fashion Day. I was told that it was so that the poor ladies were not distinguished or discriminated against if they were poor and could not afford nice clothes. I always enjoyed seeing them in their uniforms, usually different colors, but always coordinating the same color for each day of the week. As I remember, the monthly wage was about the same then as now - About $200. Don't remember the exchange rate. In Louisiana I attended Catholic schools for Elementary and High School. Khaki pants and shirts with a black tie for Elementary. High School - All Boys - we were required to wear a white shirt, tie, and a "Distinctive Green Blazer". I never minded and continued to wear a suit or jacket in my early business days; and a colorful "Tabasco" tie, while others wore open collar golf shirts.

- @talamban

Economic forecasting was invented to give astrology credibility- Murray N. Rothbard.

- @Michaelm54

Well. IF he didnt ment it sarcastic, then he had a bad day when he thought that...   

Much can be correct predicted by some logic thinking based on such as basic history repeet itself - many enough to screw up the market by never learn    - and some psychology  =Stock markets overreact much now and then in both directions (but often more wrong when making bubbles).

((E g I have predicted many economical things correct, many of them I told in public in economical articles, most about individual stocks some concerning overreactions, but also two big stock market falls I told a half year before they happened. (=1987 and 2000) But I missed 2008, I didnt expect "specialists" with some power can be that stupid     or being allowed to get away with such, them who made it at purpouse      (But I DIDNT lost, I gained 45% at the last too myself, but irritated in behalf of them who lost much by this crap handling leting this SCAMMERS get away with it and some even rewarded!!! (Got high paid jobs/consultation pay from the American government!!! If I remember correct one of the worst scammers got a minister position.))

Another article to digest.

- @manwonder

(From that link:  Some of this might be great for Americans shopping or traveling abroad, but these moves are wreaking havoc on global markets and leaving many investors scratching their heads.

After all, the Fed "printed" $9 trillion by buying Treasury bonds, which might sound like a massive devaluation of the greenback. And now the dollar is soaring as traditional inflation hedges like gold are getting crushed.

Bitcoin (BTC-USD) has crashed 70% against the dollar since its November record high — not unheard of, but painful.

Not suprising - for me  - but suprising even for some HUGE invest handlers!!! who are suppoused to understand it was a  BUBBLE when they bought... - and is STILL a big bubble inspite of the big fall...

Which many find me being an idiot to claim, but thats the TRUTH... 

(Similar reaction as e g back when I told it was a bubble before the big stock market fall 2000. And back when Ericson - a very popular share in Sweden - did cost around 80 SEK, I wrote and got published an article - including explaination - saying its worth under 20, then I were close to "lynched" in comments at that website.  A few months later it ended up under 4...

I'm used to people claim I'm an idiot - until they see the results... 

I explained my thought are that I  don't understand how crypto works.   To me you are basically buying a fictitious currency that is not backed by anything substantial.   

I ache to think of the Filipino population who already struggle to make ends meet.  We have chosen to make this country our home.  So I feel a sense of responsibility to our local communities.  I don't know a solution but I do think that spending our money locally will have a positive impact on our community.  If I am misunderstanding the situation please feel free to educate me.  God Bless all!

- @Deant69

You understand correct 

much BETTER than them who buy Bitcoin, because if they would understand, then they wouldnt buy Bitcoin