| View previous topic :: View next topic |
| Author |
Message |
riverboy
Joined: 03 Jun 2003
Location: Incheon
|
 Posted: Mon Jan 26, 2009 10:04 pm Post subject: |
 |
|
I see a similar scenario B Guy. Some people feel the won will do well. Which makes sense from the beating it took this past year.
As for gold. Does anyone know if it would be profitable to buy gold with Korean won? My wife doesn't seem to think so. |
|
| Back to top |
|
 |
mzeno
Joined: 12 Oct 2008
|
| Posted: Tue Jan 27, 2009 8:16 am Post subject: Re: Is moving to America this year a good idea? |
|
|
| xCustomx wrote: |
| I'll keep this short. Would you advise moving to America this year? Or would it be better to try and ride out the economic problems in Korea for another year? |
#1 Don't listen to the idiots on Dave's.
#2 Don't get married.
#3 Do what you want to do. |
|
| Back to top |
|
|
jboney
Joined: 14 May 2008
Location: Northern Seoul
|
| Posted: Tue Jan 27, 2009 8:32 am Post subject: |
|
|
Simply put, I'd say "no". I've never had so many friends who were unemployed. It's really crazy.
I worked with a guy who left in the fall for pilot school down in Florida. He e-mailed some of us telling us how he was doing, and he said that he felt pretty confident that he'd be able to find a job when he was finished with school. I don't know. |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Tue Jan 27, 2009 11:38 am Post subject: |
|
|
| Bucheonguy wrote: |
The US dollar is going to crash completely. It's going to be valueless and it's just a matter of when not if at this point. Consider the fact that they have increased the money supply by 70% this year. That money has yet to really impact the dollar value. Also, as other countries dump their US dollars that money will hit the market again too. This will probably happen sometime within the next year. If it doesn't it will be a miracle!
So is Korea the right place? That depends. I'm not sure if the won is pegged by the dollar. If it is, than Korea will be just as bad. However, though Korea will suffer greatly as well and it has all ready begun, Korea has a solid manufacturing base still which will help them weather the storm. The US has nothing left. Korea will go down too but not as hard I'd imagine.
So the best thing to do is go somewhere with a currency that is pegged by several different currencies such as Malaysia or a country that deals with other countries in things like natural resources. South America will be good spot since the continent produces lots of stable products such as metals which China is swallowing up.
That's my suggestion. I'd also pull my money out of the US and put it into gold or silver or something or another currency that won't be devalued. If I had money or really thought I could escape the impending global depression that's what I'd do.
The US is going to suck and only get worse next year I believe. |
I see you're a fan of Peter Schiff.
While he was right about the looming disaster, he has been dead wrong about everything else.
http://globaleconomicanalysis.blogspot.com/2009/01/peter-schiff-was-wrong.html
Also, when people in the industry refer to a "crash" in a currency, they mean a 30% decline over a short period of time. Not a collapse to zero. Furthermore, to stop a collapse/crash, governments merely have to raise interest rates, as did Paul Volker as fed chairman. Volker is now perhaps the most important economic adviser to Obama.
The United States is in a different position, one not fully understood by dollar-doom types. The Bretton Woods 2 arrangement allows her a level of sustainable liquidity production over and well above other states. The primary economic goal of the Obama administration once this crises is over will be to cement the BW2 regime. My opinion is that they will be unable to maintain this globally, but regionally (among allies) it will be not so difficult. This means that the US will face higher borrowing costs but not that the US $ will approach 0.
I know that watching youtube videos of Schiff and Jim Rogers is fun. I do it too. But to really understand what is happening in the world economy, and especially global macroeconomics, it is insufficient.
By the by, Schiff's EuroPac clients lost around 50-70% this year. Even a diversified S&P portfolio in the US outperformed it dramatically.
Lastly, your suggestion that Latin America is a good bet due to her relationship as a supplier to China is sooooooo 2006. Commodity prices have "crashed" and China is likely to have less than 0% GDP "growth" this year. The South American economies are in serious trouble.
I'll help you out a bit. The big question now is
Can America stimulate aggregate production sufficient to return to stable growth (3-5%) and can China stimulate aggregate demand to do the same.
China was one half of a giant vendor-financing scheme (the other being the US/Spain/Oz/UK etc). Now that her easy markets are looking towards decreased consumption, she (to keep the millions employed) must find domestic (or other) markets to ship her goods. The US (the other side of the VF scheme) has a large imbalance in trade. The US must find was to stimulate aggregate production to compensate for the death of the FIRE economy (finance, insurance, real estate). That is the big question going forward. |
|
| Back to top |
|
|
kotakji
Joined: 23 Oct 2006
|
| Posted: Tue Jan 27, 2009 6:51 pm Post subject: |
|
|
| Bucheonguy wrote: |
If I had money or really thought I could escape the impending global depression that's what I'd do.
|
This seems to be a pretty much universal constant for internet doomsayers.  |
|
| Back to top |
|
|
5600
Joined: 07 Apr 2008
Location: At an undisclosed FEMA camp.
|
| Posted: Tue Jan 27, 2009 8:55 pm Post subject: |
|
|
| Go ahead and move to America, they got a nice FEMA camp waiting on you. There's a cop in a black ski mask waiting to taser gun you death when you get off the plane. |
|
| Back to top |
|
|
Jati
Joined: 13 Dec 2008
|
| Posted: Wed Jan 28, 2009 6:29 am Post subject: Re: Is moving to America this year a good idea? |
|
|
| mzeno wrote: |
| xCustomx wrote: |
| I'll keep this short. Would you advise moving to America this year? Or would it be better to try and ride out the economic problems in Korea for another year? |
#1 Don't listen to the idiots on Dave's. |
Hey, thanks for advice #1! I needed an example of a reflexive statement, and you came through, dude. Way to go! |
|
| Back to top |
|
|
mises
Joined: 05 Nov 2007
Location: retired
|
| Posted: Wed Jan 28, 2009 7:01 am Post subject: |
|
|
| 5600 wrote: |
| Go ahead and move to America, they got a nice FEMA camp waiting on you. There's a cop in a black ski mask waiting to taser gun you death when you get off the plane. |
I love the smell of hyperbole in the morning. |
|
| Back to top |
|
|
Illysook
Joined: 30 Jun 2008
|
| Posted: Wed Jan 28, 2009 7:43 pm Post subject: |
|
|
| Mom volunteers at a soup kitchen in Columbus, Ohio every Wednesday and say's that the lines are getting longer and longer. This week, there was a big snowstorm and out of concern for the elderly people who volunteer to serve the lunch, they had to cancel it. She says that I made the right decision coming to Korea and that I should plan on staying awhile. |
|
| Back to top |
|
|
mole
Joined: 06 Feb 2003
Location: Act III
|
| Posted: Wed Jan 28, 2009 9:49 pm Post subject: |
|
|
| mises wrote: |
I know that watching youtube videos of Schiff and Jim Rogers is fun. I do it too. But to really understand what is happening in the world economy, and especially global macroeconomics, it is insufficient.
By the by, Schiff's EuroPac clients lost around 50-70% this year. Even a diversified S&P portfolio in the US outperformed it dramatically.
I'll help you out a bit. The big question now is
Can America stimulate aggregate production sufficient to return to stable growth (3-5%) and can China stimulate aggregate demand to do the same.
China was one half of a giant vendor-financing scheme (the other being the US/Spain/Oz/UK etc). Now that her easy markets are looking towards decreased consumption, she (to keep the millions employed) must find domestic (or other) markets to ship her goods. The US (the other side of the VF scheme) has a large imbalance in trade. The US must find was to stimulate aggregate production to compensate for the death of the FIRE economy (finance, insurance, real estate). That is the big question going forward. |
Mises knows his economics. Go figure.
I fully concur. What does US produce, besides a lot of hot air? I like mises' term FIRE better.
I don't think China has a problem with demand. Chinese would love to participate in the consumption glut they've been feeding all this time. |
|
| Back to top |
|
|
Jandar
Joined: 11 Jun 2008
|
| Posted: Wed Jan 28, 2009 10:45 pm Post subject: |
|
|
If you want a cheap path to get your wings try the civil air patrol.
http://www.cap.gov/
Most of their pilots are qualified to train you.
There are plenty of real search and rescue missions as well as training.
Usually free ground school plenty of flight time.
You have to put in time as a senior member you get certain responsibilities and you have to pass an FBI check cause you deal with kids.
At least go to a meeting or two it could be very beneficial, if you don't like the military aspects of it just avoid summer camp, although summer camp was a blast when I was in it.
Last edited by Jandar on Wed Jan 28, 2009 11:13 pm; edited 2 times in total |
|
| Back to top |
|
|
mole
Joined: 06 Feb 2003
Location: Act III
|
| Posted: Wed Jan 28, 2009 10:57 pm Post subject: |
|
|
| Jandar wrote: |
If you want a cheap path to get your wings try the civil air patrol.
http://www.cap.gov/
Most of their pilots are qualified to train you.
There are plenty of real search and rescue missions as well as training.
Usually free ground school plenty of flight time.
You have to put in time as a senior member you get certain responsibilities and you have to pass an FBI check cause you deal with kids.
At least go to a meeting or two it could be very beneficial, if you don't like the military aspects of it just avoid summer camp, although summer camp was a blast when I was in it. |
Where the hell is Spliff when you need him?
Tell this n00blican that this topic is about economics, not pilot training. |
|
| Back to top |
|
|
Jandar
Joined: 11 Jun 2008
|
| Posted: Wed Jan 28, 2009 11:10 pm Post subject: |
|
|
The OP said he wanted to get his pilots license.
I thought it would be Economical to use the CAP
instead of blowing forty grand during these economic times
on ground school that can be had for free and stick time that
has a purpose.
So excuse me for addressing the economics of alternative education paths.
Excuse me for not discussing some theoretic puffery and giving practical advice directed ad the OPs concerns.
Excuse me! |
|
| Back to top |
|
|
Jandar
Joined: 11 Jun 2008
|
| Posted: Wed Jan 28, 2009 11:25 pm Post subject: |
|
|
| xCustomx wrote: |
I'm an American, planning to marry my girlfriend in the summer, have zero debt, and a significant amount of cash saved up.
The reason why I'm worried is because I will go to a pilot school and pay nearly $40,000 for all my pilot ratings. This will wipe out a lot of my savings, and jobs for pilots are very hard to find right now. It doesn't make a lot of sense to me to spend that much money on training, only to be unemployed once I finish in five or six months.
My girlfriend has waited patiently for us to move and get married, and I have delayed the move for about two years, mostly because I wanted to save up enough money to pay for the pilot school in cash, and not have a huge amount of debt hanging over my head for 15-20 years. I make a decent amount of money here, and love my job. I wouldn't mind waiting another year to try and wait until things improve, but one of my fears is that I'll get too comfortable in Korea and never pursue my lifelong dream of becoming a pilot. |
So if the mole can get his nose out of spliffs ass for a minute he can look at the OPs concerns as stated in this post.
The program I mentioned could save him all the money, put him in contact with seasoned pilots who have connections throughout the industry while allowing him to save all the money.
 |
|
| Back to top |
|
|
Jandar
Joined: 11 Jun 2008
|
| Posted: Wed Jan 28, 2009 11:29 pm Post subject: |
|
|
| mole wrote: |
| Jandar wrote: |
If you want a cheap path to get your wings try the civil air patrol.
http://www.cap.gov/
Most of their pilots are qualified to train you.
There are plenty of real search and rescue missions as well as training.
Usually free ground school plenty of flight time.
You have to put in time as a senior member you get certain responsibilities and you have to pass an FBI check cause you deal with kids.
At least go to a meeting or two it could be very beneficial, if you don't like the military aspects of it just avoid summer camp, although summer camp was a blast when I was in it. |
Where the hell is Spliff when you need him?
Tell this n00blican that this topic is about economics, not pilot training. |
Want some more of this moleblican?
Let me know when your ready Flamebait.
  |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
