⌛ Peso continues to fall

Don't confuse the rhetoric of the supporters of state capitalism with true free market economics. These people toss around Libertarian terms because they strike a chord within us, but they don't really mean it.
The only thing I know to do is to get people to distrust what they hear in the mainstream media and from the politicians and try to get to the truth for themselves.

btw, the US Federal Reserve system is quasi-public (not that it makes the situation any better).

 

quasi-public????

Privately operated corporation with some sort of government backing, and specifically mandated responsibilities that are stated in the corporation's legal charter. Examples include Fannie Mae

 

FRB: FAQs: Federal Reserve System

 

I've been working on reducing my overall debt as quickly as possible rather than investing in stocks for some time now. This has had the double benefit of saving interest payments and increasing personal net worth. My portfolio is bonds so my losses there have been minimized.
I'm very fortunate to live in an area that has not been hit as hard as other parts of the country. My home value is currently 10% below it's (supposed) peak but has seen 5% appreciation since I purchased it which is on track with my projections. (I didn't believe the peak numbers anyway)
Once our "number" is reached we will liquidate and put the money into the safest places we can. We shouldn't need a large ROI to live on. I do want to purchase some amount of hard currency so I'm watching those prices. My thinking is the current bust will turn around and the next peak will be the time to bail out.
Apparently all that talk about living below your means and making long term conservative investments was right.

Oh yeah, the Peso is staying in the mid-47 range against the US$. Gold is still going up.

 

This way or that way

Hi.

Every which way the power bucks sway, the Philippine peso's behavior is affected. IMHO, pensioners are lucky because even with a fixed income, they have something sure coming. Foreign currency pensioners are in better sits because they can "play" with their exchange schedules. Menwhile, the PHP pensioners have difficult times. Most difficult sits are those who have retired without any definite source of income and who depend on savings. Good for those who have saved and who have planned well.

The best key I've got so far, from my own situation, is avoiding that tiring feeling of depression. Forget tuna belly paksiw [from the DC market, go early in the Am to get the best slices] and thick marlin steaks [you gotta go to Casablanca!] for a while.

Hopefully these downturns are temporary. We survived the 1997 worst, this one is not going to be a plague yet!

But I do wonder whether when the safe time is to make those investment withdrawals!

 

Thank you for you posting Mam A. I hope by sharing my plans I haven't come across as a braggart. I just thought other foreigners may gleen something from my personal experience.
On the subject of oil prices I found this article interesting.
FT.com / World - Opec members seek emergency meeting
Funny but, I didn't think $85 per barrel was low. I recall reports that $70 per barrel would break the economy. My, how things have changed.

 

The best financial advice I have heard in relation to the present financial situation is:

"accumulate cash and adopt the fetal position".

I am now reviewing my present positions while sitting on a beach, drinking San Mig's. and looking into the middle distance like those guys in the spaghetti westerns.

If anyone out there cares the Aussie dollar is down to 78 cents US and about 33 peso's, a significant drop in about 2 months. I am dinking slowly.

 

I'm rapidly coming to a similar conclusion.

 

I was watching CNN today

I was watching CNN today. And what did I hear Wall Street is accepting a selloff, by all less than the most serious investor. They also said many investors are moving to the safe havens. (Need I say it again GOLD).

As the weakening economy undermines consumers and businesses alike, governments are facing a rare confluence of declines in personal and corporate income taxes, property taxes and sales taxes. This is forcing officials to raise taxes and fees, lay off workers and slash spending - cutting aid to hospitals, schools, Medicaid and more.

At the same time, as unemployment and inflation rise, demand for public services and the cost of delivering them is on the increase. On top of all that, the credit crunch has made it virtually impossible for some state governments to borrow to cover short-term financing needs, forcing states such as California to appeal to Washington for help. Who at one time had the third largest economy in the world and it was just a state.

Worst of all, most experts are predicting the fiscal squeeze will only deepen. I may be Mr. Doom and Gloom, But my fellow forum members “The hand writing is on the wall” if you just look. It’s time to act and protect yourselves.

 

Time to get it all out what I left in the bank and hide it under my pellow.