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wiltonh
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Brexit causes Peso drop to 19.5187 to the dollar
I see that Scotland is flying the Mexican flag due to some of Trump's comments and that the Brexit has caused the peso to drop again.
http://mexiconewsdaily.com/news/peso-hits-record-low-on-uks-...
Politics does have an effect on us whether we like it or not.
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Bajaboy
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Yes David, a wall street plummet is always good for tourism Are you for
real?!
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David K
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The subject of this thread is the drop in the peso value against the dollar. It is like anything that goes on sale, it is good for business!!
When the dollar can buy more pesos then it is a sale on Mexico travel for Americans.
Where is the stock market mentioned in the opening post? [stay on topic, as you would ask of me]
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danaeb
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Yeah David. My 401K just went on sale today too.
Experience enables you to recognize a mistake every time you repeat it.
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Bajaboy
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Quote: Originally posted by David K  |
So you should buy more! Buy low, sell high, right?
[let's stay on topic... cheap pesos, not cheap stocks] |
I guess you can't argue with simpleton logic
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rts551
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Cheap peso for the tourist. Higher cost for Mexicans buying imports from the USA. Hurts the USA exporters and the Mexican consumer.
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DENNIS
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Speculation isn't only reserved for the experts, is it.
"YOU CAN'T LITTER ALUMINUM"
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fdt
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You've always had that idea, historicaly your posts on the devaluation of the peso are always a good thing for the people.
The day you start understanding the culture and the people the way you do the mission sites, you will have a different mind set.
You can't even imagine how terrible this all is for the mexican economy and even worse for Baja California since we don't depend on Mexico as much for
the basics as we do from imports.
I believe that you are really honestly thinking that the people of Baja California can't wait to see you back and expecting to pay them .50¢ for a
beer you paid $1.00 a couple of years ago.
Do you think they are happy to know that instead of 10 pesos now they need 20 pesos to go buy the same pair of reading glasses at the dollar store?
That is what I mean when I say understanding them. I now it's hard for some people.
saludos
A well informed Baja California traveler is a smart Baja California traveler!
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woody with a view
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so goes the world.... we need to shake things up! all of the Bernie backers gotta see the logic!
BTW, sold a bunch of AUMN this morning at .62 = 22% profit and by the end of the day bought it all back for .55 it's all about opportunities, seeing
them for what they are and grabbing them by the neck!
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chuckie
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LOL! Good term "Simpleton Logic" Gee, my 401 k and my investment portfolio and my pension fund all went down today...Guess I'll buy pesos and go on a
Mexican Vacation..
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David K
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I saw this as good news for Baja people if it brings south more tourists. I did not think of myself, as most of you have. So, that explains the
negative I guess. Sure, stocks reacted to the British decision to become independent again. The change doesn't happen for 2 years, so I think they
will come back soon, as investors will buy now.
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mojo_norte
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Huh ??
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DENNIS
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Ferna........the retail price of imported goods will adjust to the dollar amount paid by importers. A walk through Costco, for instance, sees price
changes daily. How does this immediately and directly affect the retail price of domestic products?
We've seem, just recently, the Peso/Dollar exchange soar from 13 to 19 to one, but gas and domestic beer [for instance] have stayed the same. I
can't imagine PEMEX or Modelo taking a loss voluntarily.
.
[Edited on 6-25-2016 by DENNIS]
"YOU CAN'T LITTER ALUMINUM"
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woody with a view
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UK has two years to formally give the EU the boot. stocks will recover (or not!) and this will be a distant memory by then.
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rts551
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Obviously, very hard for some to understand.
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SFandH
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| Quote: Originally posted by rts551 | | Higher cost for Mexicans buying imports from the USA. Hurts the USA exporters and the Mexican consumer. |
Bingo! The top 2 US export destinations are Canada followed by Mexico.
A possible scenario: Aeromexico may no longer be able to afford the 5 new Boeing jets it needs. The result, fewer jets than Aeromexico needs to
provide good service and Boeing loses sales. It's a lose/lose situation.
What the US exports to Mexico, all of which cost Mexicans quite a bit more than it did a few years ago.
1. Machinery: $42.1 billion
2. Electronic equipment: $41.1 billion
3. Vehicles: $22.4 billion
4. Oil: $18.6 billion
5. Plastics: $16.5 billion
6. Medical, technical equipment: $6.7 billion
7. Iron or steel products: $5.2 billion
8. Organic chemicals: $4.8 billion
9. Aircraft, spacecraft: $4.3 billion
10. Iron and steel: $4.1 billion
http://www.worldsrichestcountries.com/top_us_exports.html
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fdt
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| Quote: Originally posted by DENNIS |
Ferna........the retail price of imported goods will adjust to the dollar amount paid by importers. A walk through Costco, for instance, sees price
changes daily. How does this immediately and directly affect the retail price of domestic products?
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It does not affect the domestic products, thing is that here in Baja California everything is more expensive than down in México since we don't get
that much domestic product that has to be shipped all the way to us and we depend a lot on import and that is affected daily and not just Costco.
| Quote: Originally posted by DENNIS |
We've seem, just recently, the Peso/Dollar exchange soar from 13 to 19 to one, but gas and domestic beer [for instance] have stayed the same. I
can't imagine PEMEX or Modelo taking a loss voluntarily.
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And you probably won't anytime soon and this is because you have to take into account the subsidies that gas has and in the case of beer, they depend
on domestic grown cereal grains (that fermented makes your malted barley) and domestic hops, local water and domestic bottles, so 100 pesos remains
100 pesos.
The curious part here and I' glad you brought beer into the subject is that all this artisan / micro brewery boom that is happening in Baja California
and not in México is because of the availability to purchase those cereals and hops via San Diego. Down south it's not that easy. So Ensenada, Tecate,
Mexicali, Tijuana and as far south as Cabo San Lucas are seeing this new thing called "Cerveza Artesanal".
So Dennis, if 3 months ago, a sampling of 4 beers at any artisan brewery was 35 pesos, 1 month ago it was 45 pesos and with this new it might go up
to 65 or 75 pesos, don't know but it must go up in order for these breweries to make some profit because even the bottles they us are imported.
So to sum it up, this is not about the people of Baja will be happy to see the nortemericanos back, that is bull caca and it always has been, they
want their economy back. They are hard workers that are only asking to be able to have their money be of value.
A well informed Baja California traveler is a smart Baja California traveler!
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micah202
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...peso didn't drop at all,, USD gained strength on many economies, with the brits selling pound and buying USD
..precious metals surging too 
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[Edited on 6-25-2016 by micah202]
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fishbuck
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I thought DavidK's suggestion was a good one. Heck anytime is a good to vaca in Baja!
Anytime I think I can get a good deal on anything north or south the border... I sieze the day or capture the moment etc.
Anytime I benefit it's a good thing.
If I want to go to Baja and enjoy myself and spend a bunch of my hard earned money and if me having fun benefits someone in Baja... I'm ok with that.
But that's not why I went there.
[Edited on 6-25-2016 by fishbuck]
"A ship in harbor is safe, but that is not what ships are built for." J. A. Shedd.
A clever person solves a problem. A wise person avoids it. – Albert Einstein
"Life's a Beach... and then you Fly!" Fishbuck
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DENNIS
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Thanks, Ferna. I would never suggest any form of "carpetbagging".......taking advantage of an unusual conversion disparity, but if travel is more
affordable, it might be a fair reconsideration. The US public has financial problems and restraints as well as does Mexico.
Perhaps your observations about the need for imports illustrates a more serious need for domestic manufacturing.
Micro breweries will be [if not already] depending much more on Amazon than So. Cal suppliers.
A last point....... I pay my domestic help, gardener and housecleaner, 600 pesos for fours hours of work, and so does everyone else around me.
That's more than I made for half of my working life, so I'm fast losing my sympathetic motivation for the Mexican worker in this area.
"YOU CAN'T LITTER ALUMINUM"
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