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Just how good an inflation hedge is gold?
Consider this:
When the dollar was removed from the gold standard the price of gold was $34.00 per ounce. The last spot price for an ounce of gold today (11/27/2012) was $1742.18.Total inflation from January 1973 to today has been 175.65%.
If the price of gold had floated with inflation during the same period an ounce of gold would sell for $6,147.75 today.Losing $4,405.57 to inflation doesn’t seem like a very good hedge to me.
Thinking that gold is going to preserve the value of your wealth is a fantasy. 😀 🙄 😥
[quote=”davidd[b]Stossel thinks that, for the moment, gridlock will delay or slow down the mad race to total government:
My hope for now: gridlock. People say they like bipartisanship, but bipartisanship usually means politicians conspire to take more of our money and freedom. Bipartisanship gave us the Department of Homeland Security, TSA, PATRIOT Act, Import-Export Bank, war on drug users, ethanol subsides, TARP, No Child Left Behind, foreign wars and an ever-rising debt. When Democrats and Republicans come together, they put us deeper in debt.
Let’s have some gridlock!
[/b][/quote]
I’ve never encountered any static for living out of the States except when commenting on the U.S. economy. Apparently some in the States think we are unaffected by the economy there and I am asked what difference it makes to me.
In one respect I disdagree with Stossel. Fear gave us the Department of Homeland Security, TSA, PATRIOT Act, etc.
When you elect representation that has no inkling of what makes the world turn you are asking for problems and God knows the U.S. has problems.
[quote=”2bncr”]Dear Finca, I see nothing of the sort mentioned in the original post..[/quote]
Finco is correct. Five adopted children of asian and african ectraction.
[quote=”davidd”]Scott
can someone please explain why this is a good thing???
http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity
please i am at a loss for words
is it a strategy??? it’s almost like the debt is make believe and does not exist
or
it’s like someone who is going to die and is spending everything they can because they are never going to pay this back anyway.
am I missing something
anyone????
[/quote]
You are missing nothing and I won’t even bother with the link since this is another insane idea coming from the political/financial idiots who are running the country.
There is one, and only one, solution to the financial problems that congress has been intent on creating for the past 50+ years.
Simply take the debt ceiling, debt payment and annual budget out of the hands of congress by Constitutional amendment.
Sounds simple doesn’t it? The problem is that congress has to call for a Constitutional convention to amend the Constitution. Congress will never willingly do so to limit their responsibilities.
The convention would have to be forced by a grass roots petition movement in every state to its state legislature to call for a convention. It requires 35 states to force congress to call for the convention and 38 states to ratify an amendment.With the financial situation that the U.S. faces now this is what such a Constitutional amendment would be like:
1 ~ Limit federal financing to 20½% of the GDP of the previous year.
2 ~ Require 2½% of the above 20½% to be paid toward debt reduction.
3 ~ Require a set aside of ½% of the above 20½% for national emergencies.
4 ~ Require congress to finance the federal government within the remaining 17½% of the above 20½% limit.
It would require 42 years to pay the gross public debt to zero and the above 20½% would be reduced to 18% of the GDP of the previous year.On another note:
Social Security and Medicare would be “off budget” and both would have to be changed to reflect changes in both the amount paid in and by raising the age of qualification.
When SS was enacted in 1935 the age required to receive benefits was 65 years. The average lifespan of an individual born in 1935 was 61.7 years. Today our average lifespan is over 78 years.
You can read the entire SS Act of 1935 here: http://www.ssa.gov/history/35act.html and the portion specific to investment limitations and retirement qualifications here: http://www.ssa.gov/history/35act.html#TITLE II
Life Expectancy at Birth 1930–2010 can be found here: http://www.infoplease.com/ipa/A0005148.html[quote=”jmi82060″]It seems that experiences are different depending on where one lives and how much money one has. I suppose I cannot get a clear answer on home schooling either. I didn’t think it would be that big of a deal. It gets more complicated all the time. A first hand visit to some areas of my choice without the kiddos might be the best move now. Does anyone live in the San Carlos area? I read that there is a public school there which made it in the top 20 of all Costa Rican schools. By the way…I am retired and have a pension which would cover by far the required $1,000 a month for a pensionado. Does anyone have a guess on how much it would take to support a family of six living modestly?[/quote]
All things are possible with imagination.
Crime is not the greatest issue outside of the large cities and away from primarily expat populations.
Education, our biggest issue, can be overcome.
Our advantage is that we own our property outright so only have to pay the property and corporate taxes each year.
We are a family of 12 and live on our two combined Social Security incomes by living a primarily Tico lifestyle.
[quote=”hakesp”]Hint: that will not be accomplished by refusal to pay the taxes needed to start climbing out of the fiscal hole. Note that all the things Waggoner has done in CR — farming, orchards, chickens — can be done in the US.
[/quote]Yes, a voice of reason all around but this last is certainly true.
Instead of finding solutions to imagined issues some of us sit around complaining that the sky is falling.
Let it fall. I am in Costa Rica becauise I am old and tired of fighting winters.[quote=”camby”] um, actually, there are vast areas of the world that could re responsibly setteld and made habitable for man, w/o destruction to environments around them.[/quote]
Do you really think that humankind will not do to those “[b]vast areas[/b]” what they have done to what they possess already?
I use the word “possess” intentionally because that is the way we seem to think. 🙂
[quote=”sprite”]We are NOT in a recovery.
The US government has already gone into default. [/quote]
The U.S. Government is [b]NOT[/b] in default. It was close due to the recalcitrance of the House of Representatives of which the majority is beholden to Grover Norquist in their gross stupidity.
The U.S. has gone into default five times previously and somehow it is still alive despite its ailing condition. [url=http://mises.org/daily/5463][b]A Short History of US Credit Defaults[/b][/url][quote=”sprite”]There is no way that an economic collapse will NOT happen. [/quote]
The economic collapse has already happened. Where have you been since 2007?
The U.S. has neglected its infrastructure for a decade and it is failing.
The housing bubble burst,
financial institutions and the auto industry required bailing out,
Bush’s policies cost more than 6.6 million jobs, the unemployment rate went from 4.4% in May 2007 to 9.5% in June 2009 before Obama’s policies started taking effect. So on top of the 5,764,000 already unemployed it totaled to over 12 million unemployed. [url=http://data.bls.gov/cgi-bin/surveymost?bls][b]Labor Force Statistics from the Current Population Survey[/b][/url] On the [b]Database & Tools [/b]tab, check [b]unemployment rate (seasonally adjusted)[/b], go to the bottom and click on [b]Retrieve data [/b]link. This page is interactive and you can select data from 2012 back to 1948.[quote=”sprite”]Social Security has a limited life span once that collapse happens. [/quote]
Since 1952 congress has known two facts:
1 ~ that the baby boom had occurred and
2 ~ that our life spans were being extended through advances in medicine.
Yet every congress has continually kicked the can down the road with a band-aid, a hope and a prayer instead of resolving the issue which leads us to you next comment:[quote=”sprite”]It is a total waste of time voting for the criminal class of US politicians because there is no way to vote against the interests of Goldman Sachs. [/quote]
I would not call our congress a criminal class but a class of economic illiterates whose only goal is the pursuit of fame and power. As a by-product of that pursuit you have the lobbyists who line the coffers of these incumbents in return for favors to their employers.[quote=”sprite”]The game is essentially over but a lot of you do not know it yet. Many do and we are already crowding for the exit before TSHTF.[/quote]
The resolution to the issues that you cry about is grass roots involvement in the political process at the county level. That is where political careers begin. If you don’t attend the county political meetings to support intelligent, honest people to run for political office you have no right to complain about the condition of the nation.Every issue that the nation faces is correctable today with a concerted effort of the citizens. Do you think such cooperation is possible?
The answer, of course, is a resounding [b][size=200]NO[/size][/b] 😆 😥[quote=”aguirrewar”] nothing here to explain since it is happening all over
http://www.nacion.com/2012-09-28/AldeaGlobal/the-tico-times-cierra-su-edicion-impresa.aspx?Page=3#comentarios%5B/quote%5D
I have been reading the on-line edition of the Tico Times since before I arrived in Costa Rica. (guilty)[quote=”aguirrewar”]the US Post Office is shrinking day by day[/quote]
I have found that UPS or DHL is much faster in delivering items I have purchased (guilty)[quote=”aguirrewar”]you can buy anithing you want online[/quote]
I have been purchasing much of what I want or need or selling what I don’t need on eBay for 14 years. (guilty)[quote=”aguirrewar”]your cell phone is more important than your land line[/quote]
unil I had been in Costa Rica for 1 1/2 years I did not own a cell phone (I hate them). I will not respond to a text message or a call on my cell phone while driving.
The only reason I now own a cell phone is when either my wife or I is away from our home singly it is used to communicate with the other at home.[quote=”aguirrewar”]book stores are closing and THANKS to the kinddle[/quote]
My wife is an incessant reader and reads books. We do not own a kindle although she is pressing me to buy one now.[quote=”aguirrewar”]camaras are obsolet, history are gone (KODAK) anyone??[/quote]
I own a digital camera and a digital video camera. I can upload to my computer or onto CD or DVD.[quote=”aguirrewar”]welcome to the digital world[/quote]
The prices we pay for advancing technology. I imagine that in the not too distant future I will be able to order everything we need including our groceries by internet and have it delivered by robot.
The last 15 years of my work life was in the computer industry but I like the idea of personal contact with other human beings.What will the world be like when we do not have to interact wuth another human being?
[quote=”costaricafinca”]If you are hiring him as an individual, it as follows.
Depending on whether or not you want your guard to be armed, you need to see his license to carry. In this case, you should also confirm that he is a licensed guard.
You do not want to offer too much luxury, i.e. a bed, in his ‘room’ as he is not expected to relax while on duty.
You are expected to pay CAJA and INS as INS covers a work related injury and CAJA does not.
If he doesn’t work out, it is easy to remove him from your employ. Then, you will pay for 1 day per month ‘holiday’ pay’. Even if you fire him, for stealing, or sleeping on the job you are required to pay this.
Also, take into consideration, that you will need to have someone work on the nights he has off.
Get recommendations that this person is trustworthy and reliable. Make sure that ‘someone’ nearby can check to see if he is actually working… as in being physically present … when he is supposed to be ‘on duty’.
Guards have been know to assist in a robbery, so I repeat, check out his background and get recommendations.If your property is empty and no-one around during the day, does it make sense to hire a guard at night?
Consider adding an alarm system, with some[b] very loud alarms[/b], which will work day and night, instead.[/quote]
Do you know what the difference is between hiring on contract and hiring as an employee?
[quote=”dbserv”]We have been told we should have a person as a “night guard” at our CR home while we are back in Canada. We have a room with private entrance to accommodate but need to know what we should expect to pay. What other compensation is expected other than guard pay? I understand CR has a 13 month pay period? Is Holiday Pay involved? We have been told that ALL employers pay Socialized Medicine – the full package, not the basic but are not sure what the difference is. If a person does not work out, what are the correct steps to take to replace the person? Thanks for any info[/quote]
According to “salarios minimos” a guard is paid a minimum of ¢ 253.448,08 per month with a “Christmas bonus” equal to a months pay.
This information can be found at [url=http://www.mtss.go.cr/salarios-minimos.html/]Ministerio de Trabajo y Seguridad Social[/url]
The latest update on the web site is for the first semester of 2012 (January 1 to June 30).
There is a difference in paying a salary or by contract. As I understand it there is no Caja payment for a person under contract but there is for someone being paid a salary. Scott or others who have hired help may be able to provide that information.I have no information on your other questions.
[quote=”johnnyh”] Well, as you all know I have been thinking about retiring in Costa Rica in the near future.
What they tell me is that I should visit Costa Rica first because it has really changed. Sure, if you can live in the gated communities separated from the prevalent crime inundating the country, fine. But that just walking in Avenida Central leaves you open to petty theft to jeopardizing your life.
They made a point of the latter, pointing out to the influx of over a million Nicaraguans that Costa Ricans are beginning to detest, and the problems of Colombians, socialist Chileans and particularly the narco agents that have infested the country from Colombia. In other words, paradise lost.
Needless to say, this is quite distressing to me, and very disturbing. [/quote]1 ~ You absolutely should visit before making a decision to move to a “foreign” country.
2 ~ If you believe Gringos who would denigrate anything that doesn’t fit them exactly you are making a poor decision.
3 ~ We lived without fences, bars on windows and an unlocked door for four years here in Ciudad Colon. Our alert system has been a couple of dogs that we salvaged from the streets. Recently we were required by Fuerza Publica to fence our property to keep the dogs from harassing peatones in our dead end street.
4 ~ The Nicas here are no different than the illegal Hispanics in the U.S. If you would tell me that you would not seek a better life with more opportunity I would call you a liar. We lived in areas where Hispanics (legal and illegal) were in the majority and we got to know them and understand where they were coming from. Their hopes for the future were no different than ours.
5 ~ Although we have little occasion to visit San Jose at night, my wife makes almost weekly trips to Hospital San Juan de Dios with shopping afterward. She had her money stolen one time because she carelessly left her purse on a table while ordering a meal. We feel as safe in San Jose as we felt in the LA area.
[quote=”johnnyh”]Here in California, and now living in Orange County, one can see the changes that have happened over the last 20 to 30 years with unchecked illegal immigration.
I have witnessed all this, to the point that just going to Costco is like going to the third world. I’m perplexed and confused as to what to do next.[/quote]From 1989 until I retired in 2007 we lived in Orange and LA counties. Come for a month to three month visit to find out what it is really like here. Everything is changing everywhere but I think at the end of it all “Johnny will come home”.
😀The policies of the Reagan administration added over 34% to the debt to GDP from 1982 to 1995, Bush2 policies added 29.11% to the debt to GDP from 2002 to 2009.
Bush2’s wars, tax cuts and recession continue due to congressional inaction and the debt to GDP is expected to be 105+% by 2016.What little we have heard of Romney’s plans they will be a continuation of the policies of Reagan and Bush2.
[url=http://www.usgovernmentdebt.us/downchart_gs.php?year=1940_2016&view=1&expand=&units=p&log=linear&fy=fy12&chart=H0-fed&bar=0&stack=1&size=m&title=&state=US&color=c&local=s]Gross Public Debt Fiscal Years 1940 to 2016[/url]
Contrary to what the conservative fringe tells us Obama has sent proposals to create jobs and a budget every year to the Hill but congress has failed to pass any of them.
Better be praying that Obama gets re-elected or the debt to GDP will equal what it was in 1946. 😥
[quote=”beansandbooks”] The phrase I will print on my cheat card until I get better at it will be “My Spanish is not very good, please be patient.” And I will seek to retire that card as fast as I can.[/quote]
What I have found is that many Ticos understand English but are uncomfortable speaking it because they seem to feel foolish with the pronunciation. My tack, when I get into a situation that is new or unfamiliar is to ask, with my best smile 🙂 , “Mi español es muy pobre, comprender Inglés?
I have found that the request opens them up to trying to communicate, usually with success.
The [url=http://www.translation.langenberg.com/]Langenberg translation web site[/url] is helpful because it has a vocal translation that helps with pronunciation.
Mexican Spanish is different in some ways though. The word “peso”, for instance, is a form of money in Mexico but in Costa Rica in means weight.
It has been a challenge but I have learned enough to make myself understood.
