Santo Domingo. - A drive along the capital’s main avenues and the country’s provinces reveals that the commercial activity is on the rise, despite the international crisis and the violent actions by small groups which spread chaos in some communities.
Today the large supermarket and retail chains expand, sending a clear signal that the sales haven’t subsided.
In Santo Domingo’s Luperón avenue, the Jumbo supermarket chain is building a huge shopping center on the site of the old Herrera Airport, which company sources say could be the country’s largest, whereas another chain, La Sirena, also plans to open another store on that avenue.
In front of Jumbo another large construction is underway of the group CNN (Cuesta), which for years had warehouses and offices there. Now there will also be a modern supermarket to compete with those already operating in that zone.
And while social and political groups call for strikes and confrontations with Police, La Sirena’s executives build a modern shopping center in Puerto Plata, at a cost of more than RD$300 million.
The Lama group also ignores the voices of pessimism which augur misfortune, and announces the creation of 700 jobs, by expanding its services in different parts of the capital and will soon open a large shopping center in the intersection of the avenues Maximo Gomez and Nicolas de Obando, and will build a supermarket on the avenue Charles de Gaulle.
Moreover, Europe’s largest furniture maker, Ikea, is building one of the largest shopping centers, on John F. Kennedy avenue, whereas the Garcia brothers build a new facility right next to its current business, Ferreteria Americana, and elsewhere on the same the lands the Bisono group builds high rise condos, similar to those the promote in different parts of Santo Domingo province and the National District.
Tourism investments
In Miches, El Seibo province (east), Venezuela’s powerful Cisneros group spurs that community development with important investments, expected to turn it into one of the country’s most attractive zones, such as what’s occurring in Cap Cana, where two new constructions are underway and this weekend the PGA Champions Tour will be staged, the world’s most important golf event.
Recently Tourism minister Francisco Javier Garcia announced the construction of two new hotels in Cabarete and Puerto Plata, as a result of his participation in Berlin’s Tourism Fair, at a cost of more than US$250 million.
There’s also the construction of impressive buildings right in the center of the capital; the Santo Domingo Port project already advanced; the Barrick Gold project in the Rosario mine at Cotui, and the wind energy projects underway in Baní (south) and Monte Cristi (northwest), among other major local and foreign investments.
Written by: abc200, 27 Mar 2009 8:56 AM
From: United Kingdom
DR makes huge progress under L. DR is an invetment 'hot-spot'. From all the adverts DR could be become the call centre capital of the Americas.
S.
From: Cuba, it is a secret the censors are looking for me
in your little mind your teensy weensy alcohol damaged mind yes this is a possibility....hit the bong again
Written by: abc200, 27 Mar 2009 9:10 AM
From: United Kingdom
A racing certainty my tipsy hallucinating friend!
S.
From: Dominican Republic, la Romana
oh my goodness..how can anyone think that the building of more supermarkets, selling mainly foreign produce, can be great investments for the DR ..far better if they built factories and processing plants that produced goods for export and domestic consumption .As for the the Cisneros projects , these projects have been active for some years now and are actually good for the economy if they attract overseas people to spend their money there. Gustavo Cisneros is a very honorable man who spends a considerable percentage of his time in this country and it would be wonderful if he set up some film studios here or something inthe communication field .
Written by: abc200, 27 Mar 2009 9:40 AM
From: United Kingdom
From: United States
Ricardolito, the voice of reason. i fail to understand how people consider these things to be positive investments . they are simply market outlets for consumer goods which are mainly imported. they simply seve as a conduit to add to the ever increasing imbalance of payments. but they look impressive, so the triumphalists believe that all is well with the world.
Written by: jonjrs, 27 Mar 2009 9:59 AM
From: United States, Miami, FL
That's Torre Caney in the picture, not Mirador. My ex-girl's brother did the structural designs for that building when he worked for Rodriguez Sandoval.....a really nice looking building!
From: Cuba, it is a secret the censors are looking for me
dread that is why these people are very rich ....they do not listen to you and rici ricardo the busboy at the copa
From: United States
yes, GC. that is why they are rich, and just about everybody else is poor. your take on it depends on your priorities. some of us want to see the poor get a little better off; others want to see the rich changing the maserati every year.
Written by: Eriliza, 27 Mar 2009 10:42 AM
From: United States, Boston, MA
With the IFCA being built, the DR will be a hot spot for investments indeed.
Written by: Username, 27 Mar 2009 10:46 AM
From: Dominican Republic
I don't see how this could be bad for DR. You say they will be selling imported good? Well, nowadays everything Wal*Mart sells is imported from China. How can those supermarkets sell domestic made goods when nothing is made in DR? That huge supermarket will employ some people which should be good, shouldn't it? Now that there is no reasonable minimum wage law in place the GOV should be blamed for that, not the private sector providing the jobs. The primary purpose of any corporation is to make profit, as much as possible, for the owners and/or the share holders, it is the GOV's responsibility is to protect the worker, tax the corporation and invest that money back into the community.
From: United States
yes, username; why do you think that the USA is in the state it is in? overconsumption of imported goods. like the stuff WaMart sells. we might not be able to produce for conumption, and have to import stuff. that is a reality we cannot avert. but, at the end of the day, it is not a positive development.
From: United States
Eriliza states
With the IFCA being built, the DR will be a hot spot for investments indeed.
what is IFCA, and how does it make for advantageous investment climate?
Written by: Username, 27 Mar 2009 11:06 AM
From: Dominican Republic
That new supermarket will NOT create one new costumer, they will attract costumers ALREADY BUYING imported goods from some other place. Yes, a few little guys will be put out of business, that's competition, and the fact that will happen should prove to you that not one new costumer will be created. At the end the average citizen wins because the stuff he/she is already buying now will be accessible at a lower price, so more savings for him/her.
From: United States
i agree with your analysis, username. but do not count on the "lower price" thing too much. i bought a 3 lb pack of Kosher SALT from La Sirena the first day they opened in Puerto Plata. it was 75 pesos. two days later, it was 97. so much for the illusion of lower prices.
From: United States, New York City
This article is very opinionated and as such it belonged in the "Opinion" section. It's an op-ed and should've been treated as such.
From: United States
cibaeno, that is one most astute observation. you are more than correct. there is nothing substantial , but mostly speculative commentary.
From: United States, New York City
"cibaeno, that is one most astute observation. you are more than correct. there is nothing substantial , but mostly speculative commentary."
It has a judgemental tone to boot. As an op-ed peice it's descent. Otherwise it's poor journalism.
From: United States, Brooklyn
Username
How can they save money if they're not earning...
From: United States
brilliant, Carlos. especially those who lost their incomes when their colmado went belly up!
Written by: Username, 27 Mar 2009 12:04 PM
From: Dominican Republic
How can they save money if they're not earning? Well if nobody is earning then the new supermarket will be out of business in a few weeks, won't it? Stores are not built for people with no income. I don't think the new supermarket will have its own currency, so if someone is not earing now then that means he is not spending/saving anywhere, be it a huge supermarket or a colmado., if he is earning then he will have a choice where to spend his money.
Written by: Username, 27 Mar 2009 12:07 PM
From: Dominican Republic
dreadlocks, if that is the case you can always go back to the store you were buying salt from before the La Sirena opened, if it is cheaper there. Again, the fact that the supermarket is there means more choices for you, not less.
Written by: Eriliza, 27 Mar 2009 12:21 PM
From: United States, Boston, MA
dreadlocks,
visit ifcamericas.com and learn more!
From: United States
username, i cannot go back to my old colmado, because it is now closed, and the owner moved away to Munoz!
From: United States
with the risk of sounding skeptical, how does all of this help the young entrepreneur who needs venture capital to start a meat packing plant? do you think that because there is all this august structure in place that the oligarchs are going to allow Jose from Las Matas to compete with them? how does any of this address the ingrained sense of entitlement that a certain segment of the population lives with? no amount of concrete and broadband will change the social imperatives which stifle development. if you think that i am making this up, why don't you try planting canteloupe on a lot of land of your choosing, and tell me how long it took for you to get a visit from Senor Jeepeta?
Written by: jacirez 
, 27 Mar 2009 1:47 PM
From: Iran, Zähedän
dreadlocks,
It's the trickle down economics...I guess my peeps haven't gotten hip to the fact that "it don't work" anymore...
Written by: Username, 27 Mar 2009 1:48 PM
From: Dominican Republic
And why is the old colmado closed? Probably because the new supermarket had lower prices and killed his business. Dreadlocks, i think you are envisioning a world that does not exit, a world where the rich want to help the poor get closer to them, when you very well know that is not so and will never be so. You know that the business world is a cut-throat world and every business is at war with the competitors, and the less competition the more profit. DR is the last place in the world were this will change. Nobody opens up a business just to be able to say "now I'm a business owner", it's there to make money. Too bad for the little guy, or too bad for the big guy who expands too quickly and is forced to close some locations afterward.
Written by: Trujillo, 27 Mar 2009 2:54 PM
From: Dominican Republic
Our supermarkets sell mainly foreign products? Do you have proof of that? There're great things going on and coming that aren't even mentioned in that article. Let me mention some: Complejo Agroindustrial Fénix and the Independent Financial Centre of the Americas;
From: United States
actually, username, you and i are on the very same page. if you read my post a few posts earlier, that is exactly what i am expressing to Eriliza. the big fish are going to make a meal of the small fry. at least, in the USA, small fry can compete, or guys like Dell would be selling shoes. in the DR, guys like Dell are shining shoes.
Written by: Juango, 27 Mar 2009 3:15 PM
From: United States, far S. Florida (formerly Santo Domingo)
Smoke and mirrors first, then Dazzel them with BS...Nothing will really begin to happen till the cost structures of the DR fall into place and stabilize. So far we have heard of ZF having 100+ new businesses start-up, 3 major Resort/Tourism Developments with 10-20K new employment each, smaller developement project in Cabarete & PP and the frosting of the cake, a new Solar Energy Plant with 2500 jobs. Great news for everyone, but wait till you hear the cheers when Petrocaribe will announce to all their specially financed customers (Chavez is broke), that the terms have now changed and will be Cash in Advance,. It is coming folks. Chavez may even ask the DR to speed up payment on it's debt with PetroCaribe. All I see is magicians (POLITICOS), never completing their ACTS ! Metro ridership is @ 135%, ask any PLD official. Smoke & Mirrors, I told you.
Written by: Username, 27 Mar 2009 3:39 PM
From: Dominican Republic
Dell might not be the best example since he started out with help of his family money but your point is clear. US is probably the most venture friendly place in the world, but also know that for every Dell 1000 other Dells have been told "No" by the lending institution. The banks don't have unlimited amount of money to give to everyone who shows up with a business plan. They have tried that with lending money to everyone to buy a house and look where that got them. Now they, the banks, are being criticized for lending the money because they "knew" the borrowers couldn't pay it back. As for Jose and his meat packing plant, well let me play the devil's advocate and ask what will happen if the venture fails? Will he repay the loan anyway or bankrupt and say "sorry bank, didn't work out", and since he was poor to begin with the bank had nothing to put the lean on, so in the end they lost big time for trying to help poor Jose.
From: United States
agreed, Username. and the reason why they reject so many requests is that they have professionals who can establish the feasibility of projects, and can generally tell which ventures will not pan out. only 5% of all restaurant startups in the USA go beyond the first year. what is needed in the DR is a venture capital institution with project analysts who can assist people with good, sound proposals, instead of a situation wherein only people with stellar surnames get a break to start a business. there is no law that says that only the son of Dona Mercedes Bermudez Lopez Vega y Vega y Mas Vega has the acumen to run a commercial venture.
Written by: Username, 27 Mar 2009 4:04 PM
From: Dominican Republic
You are right, maybe this particular Jose would succeed, but 25 Joses before him failed and the bank said "to hell with these poor Joses, they don't know how to make a business work, we'll just wait for Mr. Ochoa and lend him whatever he needs, he has proved he knows how to make money", and the cycle continues.
Well the banks have professionals who can establish the feasibility of projects, they are the ones who asses the business plan Jose presents, i think the main problem is, Jose's lack of assets the bank can put a lean on. Right, Jose is poor.
As far as the GOV interfering, that would help, but again not everyone. My cousin in Canada a few years back presented a business plan and applied for a Small Business Loan, a GOV sponsored program, but was turned down. Also you very well know who would be getting those loans, the sons of the GOV officials who would be in charge of the program. I hope such program is never established since it would be too easy to steal from.
Written by: Username, 27 Mar 2009 4:13 PM
From: Dominican Republic
BTW, we went off topic. i still think building the project, and other projects are good for DR. If nothing it hires people while the construction is being done. If later on the business fails, it's the investor's (the big guy's) loss, if the apartments don't sell the investor will have to lower the prices, making it that much closer to the average citizen. What the GOV needs to do is promote DR and fight for every foreign dollar to bring it here, and once it's here make sure the worker is properly paid, zoning rules are followed and so on, and that's when the failures begin.
From: United States, San Diego, California
Those are great news. Many in the DR make huelgas without knowing that they are hurting themselves. But they also have rights because that is the only way the government listen. One huge problems that the lazy bastards and drunkard del los colmados, take advantages of huelgas or strikes in order to obtain benefits for themselves or destroy someone else properties. We should promote education on macro and micro economic in every school of the DR, so we learn to protect all investments in our communities.
From: United States
the problem with building all these real estate projects is that if the bottom falls out of the real estate market, and the unsold properties have to be sold at bargain prices, that lowers the value of all similar housing stock. can you say "bubble"?
Written by: abc200, 27 Mar 2009 8:50 PM
From: United Kingdom
Stop all US investments - cannot be good.
s.
Written by: Username, 27 Mar 2009 9:32 PM
From: Dominican Republic
If there is a bubble and eventually it bursts, that means those properties will be accessible to lower-income citizens, making it a good thing for them.
Written by: abc200, 28 Mar 2009 6:52 AM
From: United Kingdom
Everywhere I look I see Dominicans constructing houses. How many - I don't know.
S.
From: Cuba, it is a secret the censors are looking for me
thats what an english education is they dont even know how to count
From: United States
actually, Username, that is not how things work. when the economy goes belly up, it takes everybody down with it. using your analysis, the poorest people in the USA would be forming serpentine lines to buy the houses that are available on the market. they just cannot, since they have lost their sources of income, just like the erstwhile richer classes!
Written by: abc200, 28 Mar 2009 9:14 AM
From: United Kingdom
From: United States
is that what you are doing, as we speak?
Written by: Username, 28 Mar 2009 9:36 AM
From: Dominican Republic
dreadlocks if the housing market bubble burst here i think it would have very very little, if any effect on the rest of the economy. Nobody here, and really nobody takes equity out of their house and then buys another thing with it. Here if say houses lost 50% of the value it would in no way affect rest of the economy. Look at Cabarete for example, very overbuilt with a lot of unsold units, yet the prices hold because the developers have money in the bank and don't depend on pre-construction or sell-as-you-go financing to complete the projects. Also those who buy buy with cash. If that APT that sold for 400K now can be gotten for 200K it will have no effect on the rest of the economy.
From: United States
NEW construction startups is the driving engine of the housing economy. if the housing bubble went bust, then what we would have is unsold inventory, liquidity paralised, waiting for skeptical bargain hunters. but the speculators would stop building, and that is where we get employment and sales of construcion materials and accoutrements. besides, if people are picking up 400k condos for half price, somebody is losing 200k in equity, which is a major loss, considering the opportunity cost of capital.
Written by: Escott, 28 Mar 2009 1:17 PM
From: Dominican Republic, Cabrera and Sosua a few days a month
Less than 10% of all homes here have a mortgage. Therefore no housing crisis nor bubble.
From: United States
so, then Escott, i take it to mean that if housing starts come to a dead stop, that is not considered a crisis in the housing trades? furthermore, if a guy put up 400,000 dollars to buy a house CASH, no mortgage, and the value falls to 200,000, it has lost 200k in equity. so, even if he does not owe the bank, 200k worth of collateral has evaporated. so, IF he does need a loan to start any kind of project, he no longer can collateralise it to the degree he could before. besides, if the value of one house falls, it tends to take down others with it. so, in totality, millions, if not billions of dollars in equity get wiped out, even though not mortgaged.
From: United States, Brooklyn
USERNAME
Well if nobody is earning then the new supermarket will be out of business in a few weeks, won't it?
In a theoretic world, created by the financial leaders who have gotten the world in a financial mess, that theory is possible USERNAME
From: Dominican Republic, Boycott Dominican Tourism
mmmmmmmmmmm
Written by: abc200, 29 Mar 2009 10:53 AM
From: United Kingdom
dread you do not understand basic economics. start with 4 functions of money:
1. Money as a Medium of Exchange:
The function of money as a medium of exchange solves all the difficulties of barter system. There is no necessity for a double coincidence of wants in the money economy. The man with cow who wants to purchase cloth need not seek a cloth seller who wants a cow. He can sell his cow in the market for money and then purchase cloth with the money obtained.
2. Money as Measure of Value:
In money economy values of all commodities are expressed in terms of money. Money is like the yard stick of cloth merchant, as yard-stick measures all varieties of cloth, money measures the value of all varieties goods. This function of money makes transactions easy and also fair
Written by: abc200, 29 Mar 2009 10:54 AM
From: United Kingdom
3. Standard of Deferred Payment:
In a money economy the contracts are made for future payments terms of money instead of goods and promise to repay the loan in money. In this way money is the standard of deferred payments. This function stimulates all kinds of economic activities wjtich depend on borrowed money.
4. Money as a Store of Value:
Goods cannot be stored because they are perishable. People receive their incomes in money form and keep their savings in money form in banks.In this way, money is used to store value of commodities.
Written by: abc200, 29 Mar 2009 11:02 AM
From: United Kingdom
People use property to store value. They believe that when in 20 years or so they realize the asset it will be worth more - due to scarcity ( e.g. good location ), labour and materials used in constuction will be worth more, ifrastructure will improve making the potential for people renting to earn more money. When the value of property is decreased due to scarcity of credit for example, they can still use property as medium of exchange - e.g. buy two smaller houses for a proportionally reduced value. It is only when they choose to switch asset class or switch to money is there any supposed reduction in total asset values of the economy. But not really because whatever loss they make is a potential gain for the propery buyer.
S.
From: United States
ABC, remember the old adage" a little l.earning is a dangerous thing"? that is what is happening in this case. careful with those middle school economics textbooks. they lead you to believe that you actually know a lot. money as a storehouse of value? ok, lets see. i buy a house for 100,000 dollars. it is to "store value", for 20 years. the prevailing interest rate is 4%. so, this year , i lose 4 thousand dollars in interest. next year, i lose 4% of 104,000. and so on, for 20 years, until i sell it. in the meanwhile, i rent it out, and the tenants either stiff me on the rent, occasioning me legal fees to evict them, then they trash the place before they go. it costs me 20,000 dollars to replace the hardwood floor. i sell it in 20 years for 150,000 dollars, because the market is going through a cyclical bust. but, in the meanwhile, the currency has been devalued, and the dollar is now worth 46 cents, compared to the base year. what a good deal i made. ABC, stick to buying a Tata Nano
From: United States
ABC, remember the old adage" a little l.earning is a dangerous thing"? that is what is happening in this case. careful with those middle school economics textbooks. they lead you to believe that you actually know a lot. money as a storehouse of value? ok, lets see. i buy a house for 100,000 dollars. it is to "store value", for 20 years. the prevailing interest rate is 4%. so, this year , i lose 4 thousand dollars in interest. next year, i lose 4% of 104,000. and so on, for 20 years, until i sell it. in the meanwhile, i rent it out, and the tenants either stiff me on the rent, occasioning me legal fees to evict them, then they trash the place before they go. it costs me 20,000 dollars to replace the hardwood floor. i sell it in 20 years for 150,000 dollars, because the market is going through a cyclical bust. but, in the meanwhile, the currency has been devalued, and the dollar is now worth 46 cents, compared to the base year. what a good deal i made. ABC, stick to buying a Tata Nano
From: United States
interesting theory , ABC. nobody really loses, because it evens out. one guy loses, the other gains, so we are back to zero. well, if you and i ever engage in a transaction, i elect to be the one gaining. you can be the guy who loses. then again, by your theory, nobody really loses. can i have your M5 for 1000 dollars, please?
Written by: abc200, 29 Mar 2009 3:34 PM
From: United Kingdom
The total RE value increases over time in real terms in comparison to consumable products. If I buy a carrot field then I can sell carrots - and each year I may get more efficient at producing carrots. In total people have to eat - if they do not eat carrots and buy potatoes I loose and someone else gains who owns a potato field. And in reverse. So if people move from luxury houses to basic housing - luxury housing owners loose, basic housing owners gain, restauratnt owners gain due to people having more spare money since mortgages cost less - rents cost less. People, see Keynes need a propensity to spend. They perfer that someone cuts hair; another grows carrots and they use a medium of exchange - not sea shells. The value of the money includes a basket that includes carrots, haircuts and meals in restaurants.
S.
From: United States
GC, what can i say to that?
Written by: Username, 29 Mar 2009 8:59 PM
From: Dominican Republic
dreadlocks, you say if the guy paid 400K for the condo and now that condo is worth 200K that means he lost 200K in equity. Well i wouldn't agree with that, i see it more along the lines that the guy over-paid 200K for the condo. If housing starts come to a dead stop it is a crisis for the developers, the workers and the people who sell the materials but for the people not connected to the trade, not really. My guess is if ALL properties lost 50% of the "value" you would see more people lining up to buy than you would foreclosures.
From: United States
really, Username? tell that to my friend in Miami who just walked away from 5 houses , because he could not give them away! he wanted to rent them, and could not get a half of what he was looking for. and, not because a person bought something for 200k, and the value fell to 100k, means he "overpaid" . the market operates in real time. 200k is the market value at the time of purchase. when the economic dynamics change, the market value changes. so, if he pays 200k, when the prices are generally 100k, then he has overpaid
From: United States
let me see if i can clarify my position with an example. petroleum is 20 dollars per barrel. pump gas is one dollar per gallon. everybody wants an SUV, and they are selling for an average of 20 thousand per. then , OPEC loses its mind, and oil spikes to 140 per barrel. dealers cannot give SUVs away for 12 thousand. did i overpay? in hindsight, yes. but buyers do not have the luxury of hindsight; they transact business in real time.
Written by: Username, 29 Mar 2009 9:40 PM
From: Dominican Republic
If i'm not mistaken we are talking about Dominican Republic here. Your friend probably bought all 5 houses on mortgage, speculated big time and lost. How many properties in DR are bought with 30 year mortgages, and depend on the rent income to not go into foreclosure? Not many.
Written by: Username, 29 Mar 2009 10:08 PM
From: Dominican Republic
There are certain formulas to calculate how much things are worth. For example i know condos with asking price of 450K yet that same condo can not be rented out for more than 1500 a month, absolute maximum, and about 8-9 months out of a year. So max you can get is 3% ROI. Is that condo then worth 450K? Obviously it is not, knowing the risk you are taking on, unless you are buying it as a primary residence or a vacation spot and you will not be trying to make a profit on it or be trying to sell it. Then even if you paid 450K and tomorrow the value goes to 1K, who cares? You will not be selling it anyway, and the beach and the climate are still the same, so you are happy, yeah you made a bad choice by buying it today and not waiting till tomorrow, but the only ones the transaction had an impact on is you and the seller. The rest of the economy is not affected at all.
Written by: abc200, 30 Mar 2009 10:25 AM
From: United Kingdom
If money is not circulating government nneds to pump more money into the economy to make it circulate to compensate for frozen assets. The person could have spent his 450K on meals in Chinese restaurants. This would have kept waiters in employment. Like it is the government has to start restaurants and provide the waiters for free - otherwise all the waiters would claim social benefits.
S.
Written by: abc200, 30 Mar 2009 10:36 AM
From: United Kingdom
From: Cuba, it is a secret the censors are looking for me
The sun has truly set on the old empire of the U.K. .................and now total darkness
From: United States, New York City
"The sun has truly set on the old empire of the U.K. ...."
Don't fret...the Brits still have an influential position in world affairs..as America's sidekick...or as it's euphamistically referred to in British political circles...junior partner.
Written by: abc200, 30 Mar 2009 10:52 AM
From: United Kingdom
Shares in Ruby mines were oversubscribed:
The Streeter syndicate joins with the Rothschilds to form the Burma Ruby Mines Ltd, which is floated on Feb. 26. Pandemonium reigns as the offer is oversubscribed fourteen times and ordinary shares rise to a 400% premium. The £1 founders' shares trade at £350
1889 I think.
Long Live Queen Victoria.
There's money in stones ........
S.
Written by: abc200, 30 Mar 2009 10:58 AM
From: United Kingdom
Written by: Username, 30 Mar 2009 11:07 AM
From: Dominican Republic
abc200 with all due respect you have no idea what you are talking about when it comes to economy, and "your" opinions are nothing but cable news recitals. You say: "The person could have spent his 450K on meals in Chinese restaurants. This would have kept waiters in employment". And how do you know the guy who sold the condo won't be spending that same 450K in Chinese restaurants? Maybe he's a bigger spender and eats more Chinese food than the guy who bought the condo, making it a good thing for the restaurant that he made a killing on the deal.
From: Cuba, it is a secret the censors are looking for me
New Chinese /Jewish restaurant opens in China Town SD ..it is called SO SOO MI...........and if you win try and collect
Written by: abc200, 30 Mar 2009 12:14 PM
From: United Kingdom
No the crook developer will buy slabs of gold mined by workers in camps with no Chinese Restaurants. This is know as recession and is what happened in the 20's in Germany and other times. Keynes reckoned on building pyramids ...... these use lots of labour and the workers could be paid enough to enjoy meals in Chinese restaurants.
S.
Written by: abc200, 30 Mar 2009 12:17 PM
From: United Kingdom
Ancient Egypt was doubly fortunate and doubtless owed to this its fabled wealth, in that it possessed two activities, namely pyramid building as well as the search for precious metals, the fruits of which, since they could not serve the needs of man by being consumed, did not stale with abundance. The Middle Ages built cathedrals and sang dirges. Two pyramids, two masses for the dead, are twice as good as one; but not so two railways from London to York.
http://www.lewrockwell.com/orig3/cantor1.htmlCondo = pyramid?
S.
Written by: Username, 30 Mar 2009 12:41 PM
From: Dominican Republic
WOW. What an idiot.
S.
S.
http://www.indiaresource.org/index.html
S.
With the IFCA being built, the DR will be a hot spot for investments indeed.
what is IFCA, and how does it make for advantageous investment climate?
It has a judgemental tone to boot. As an op-ed peice it's descent. Otherwise it's poor journalism.
How can they save money if they're not earning...
visit ifcamericas.com and learn more!
It's the trickle down economics...I guess my peeps haven't gotten hip to the fact that "it don't work" anymore...
Well the banks have professionals who can establish the feasibility of projects, they are the ones who asses the business plan Jose presents, i think the main problem is, Jose's lack of assets the bank can put a lean on. Right, Jose is poor.
As far as the GOV interfering, that would help, but again not everyone. My cousin in Canada a few years back presented a business plan and applied for a Small Business Loan, a GOV sponsored program, but was turned down. Also you very well know who would be getting those loans, the sons of the GOV officials who would be in charge of the program. I hope such program is never established since it would be too easy to steal from.
BTW, we went off topic. i still think building the project, and other projects are good for DR. If nothing it hires people while the construction is being done. If later on the business fails, it's the investor's (the big guy's) loss, if the apartments don't sell the investor will have to lower the prices, making it that much closer to the average citizen. What the GOV needs to do is promote DR and fight for every foreign dollar to bring it here, and once it's here make sure the worker is properly paid, zoning rules are followed and so on, and that's when the failures begin.
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http://housingstruggles.wordpress....amilies-squat-in-southern-brazil/
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Well if nobody is earning then the new supermarket will be out of business in a few weeks, won't it?
In a theoretic world, created by the financial leaders who have gotten the world in a financial mess, that theory is possible USERNAME
1. Money as a Medium of Exchange:
The function of money as a medium of exchange solves all the difficulties of barter system. There is no necessity for a double coincidence of wants in the money economy. The man with cow who wants to purchase cloth need not seek a cloth seller who wants a cow. He can sell his cow in the market for money and then purchase cloth with the money obtained.
2. Money as Measure of Value:
In money economy values of all commodities are expressed in terms of money. Money is like the yard stick of cloth merchant, as yard-stick measures all varieties of cloth, money measures the value of all varieties goods. This function of money makes transactions easy and also fair
In a money economy the contracts are made for future payments terms of money instead of goods and promise to repay the loan in money. In this way money is the standard of deferred payments. This function stimulates all kinds of economic activities wjtich depend on borrowed money.
4. Money as a Store of Value:
Goods cannot be stored because they are perishable. People receive their incomes in money form and keep their savings in money form in banks.In this way, money is used to store value of commodities.
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http://www.esmerald.com/investors.html
Symbols of peace and a joy to own!
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Don't fret...the Brits still have an influential position in world affairs..as America's sidekick...or as it's euphamistically referred to in British political circles...junior partner.
The Streeter syndicate joins with the Rothschilds to form the Burma Ruby Mines Ltd, which is floated on Feb. 26. Pandemonium reigns as the offer is oversubscribed fourteen times and ordinary shares rise to a 400% premium. The £1 founders' shares trade at £350
1889 I think.
Long Live Queen Victoria.
There's money in stones ........
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http://www.commondreams.org/views05/1028-25.htm
Fabulous wealth from US expoitation.....
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http://www.lewrockwell.com/orig3/cantor1.html
Condo = pyramid?
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