BajaNomad - Peso is being sucked into the vortex

Peso is being sucked into the vortex

DENNIS - 2-27-2009 at 07:36 AM

WOW. When will it stop? It just went down to 15.10 to one. The worst thing they could do is freeze it again. Nobody will invest in a country which won't deal with the true value of its money.

Diver - 2-27-2009 at 07:47 AM

Good points, Dennis.
I'm afraid that the sh-t has not yet hit the fan in Baja/Mexico.

oldlady - 2-27-2009 at 07:53 AM

Quote:

Originally posted by DENNIS
Nobody will invest in a country which won't deal with the true value of its money.

Unless it's the United States

DENNIS - 2-27-2009 at 08:38 AM

Quote:

Originally posted by oldlady
Unless it's the United States

Oh...yeah. I forgot about that. Hope for Mexico is on the horizon...just over that fence. :lol:

Woooosh - 2-27-2009 at 09:09 AM

Quote:

Originally posted by DENNIS

Quote:

Originally posted by oldlady
Unless it's the United States

Oh...yeah. I forgot about that. Hope for Mexico is on the horizon...just over that fence. :lol:

The pesos isn't dropping becuase of internal problems (yet)- the dollar just got stronger across the board.

Mexico has no shame. They will be at the border with their hands out- begging for more billions to keep the peso propped up. But the problem isn't a weak peso or euro- it's a stronger dollar. The USA is too busy to answer the phone. They should be begging the Chinese.

The dollar is king once again- everyone is turning to the dollar (or gold). A few months ago countires were talking about switching to the Euro as their standard, even OPEC discussed it- no mas. When it all hits the fan- people turn to the USA. No one else can be trusted and the world knows it.

vandenberg - 2-27-2009 at 09:15 AM

Quote:

Originally posted by DENNIS
Nobody will invest in a country which won't deal with the true value of its money.

Dennis,
That statement brought a smile to my face, especially coming from you.
And Oldlady's response was right on the money.

But, the new Messiah will correct all that.
Just hope that I won't make that tax bracket where my taxes go up.

Was worried about having to learn Mandarin, but looks like that threat is over. Lots of toddlers out of work over there. :biggrin:

gnukid - 2-27-2009 at 09:32 AM

With the changing peso people should also be aware of rapidly increasing issues with prices changing in an unfair manner, the best precaution is to know the price for things, do the math yourself and only pay the correct price as opposed to handing over extra and expect change. For example, in CCC Colima I shopped as normal and when I got to the register I noticed I was overcharged on about 5 items resulting in a bill about 10-20% higher than the listed prices. When I brought it to the attention of the cashier she said in spanish, "oh well I can't do anything about, I am only an employee and its the practices of the manager running the computer." Of course, when I said well you'll need to charge to the correct prices on all items she said "oh I can not". Of course, I eventually got the correct prices charged after a wait.

In a certain Marina in La Paz where they do boat repair one brother is known lately for quoting a price and charging significantly more and refusing to drop the boat in the water until the increased price is paid... He has very few customers but the ones who do happen to waltz in are duly overcharged by 3-4 times the quote.

A Marine shop on 5th of February has 2 prices listed, dollars and pesos and then chooses prices even higher, plus importation fee and iva when you buy. That's a shop worth skipping.

The point is there are many people in this time using whatever method possible to heavily overcharge on even fewer customers. It's up to you to bring pesos, pay attention and pay the correct amount and be prepared to wait out the stand-off or leave when the time to pay comes. Don't get mad, just leave. It'll save you quite a bit of money. And you should be sure to not return to stores which overcharge and warn your friends. Its getting pretty crazy out there.

k-rico - 2-27-2009 at 10:20 AM

14.91 at a Santander ATM in TJ this morning.

DENNIS - 2-27-2009 at 11:20 AM

For those who don't have it at their fingertips, here you go:

http://finance.yahoo.com/currency-converter?amt=1&from=U...

OOOOPS...Just change the currencys and bookmark it and it will stay where it belongs, dollars to pesos.

[Edited on 2-27-2009 by DENNIS]

[Edited on 2-28-2009 by BajaNomad]

Bajahowodd - 2-27-2009 at 11:38 AM

Our IOUs are staggering. The recently announced budget will result in even more debt. So what does it say for the state of the world, when the seek refuge in our currency? Sure the Euro has tanked. $1.27 today. But are there any economist/ genuises out there who can 'splain to me how the Pound ($1.434) remains so strong?

Woooosh - 2-27-2009 at 11:45 AM

Quote:

Originally posted by Bajahowodd
Our IOUs are staggering. The recently announced budget will result in even more debt. So what does it say for the state of the world, when the seek refuge in our currency? Sure the Euro has tanked. $1.27 today. But are there any economist/ genuises out there who can 'splain to me how the Pound ($1.434) remains so strong?

Because the USA and GB are best buddies, and always will be, is the only reason.

Bajahowodd - 2-27-2009 at 12:11 PM

I guess that's good enough to take to the bank. :tumble:

What Pound?

Dave - 2-27-2009 at 12:22 PM

Quote:

Originally posted by Bajahowodd
But are there any economist/ genuises out there who can 'splain to me how the Pound ($1.434) remains so strong?

I thought everyone was on the Euro.

nope

sylens - 2-27-2009 at 12:49 PM

the brits are hanging on to their pounds. :tumble:

vandenberg - 2-27-2009 at 01:02 PM

Quote:

Originally posted by sylens
the brits are hanging on to their pounds. :tumble:

Lots of them, litterally. :biggrin:

And some to their teeth also. :biggrin:

flyfishinPam - 2-27-2009 at 01:40 PM

bancomer.com was down for a couple of hours and I checked several times cuz I wanted to pay off the telephone bills. its back up and I just exchanged dollars at 15.03 to 1 !

can somebody please enlighten me on why the dollar is so strong against pretty much every world currency?

oldlady - 2-27-2009 at 01:42 PM

The US is, for now, the best house in the slum.

David K - 2-27-2009 at 01:53 PM

Quote:

Originally posted by oldlady
The US is, for now, the best house in the slum.

Well put!

Woooosh - 2-27-2009 at 01:59 PM

Quote:

Originally posted by oldlady
The US is, for now, the best house in the slum.

pretty much. The world stage loves to hate the USA just for that reason. Love us or hate us, we can get the job done. So can the Brits. One weak country in the Eurozone and the Euro is done for. Dollars or gold- two of the best bets.

Our achilles heel is now the Chinese- who own our debt. Of course we could always play the game by their rules and just tear the notes up and move on.

Bajahowodd - 2-27-2009 at 02:02 PM

I agree. But we're runnin' on empty. I'm guessing that other countries are working off of history and memories. Since WWII, we have been top dog financially. I suspect that if the Euro had a much longer history, it might be giving us a run for our money (pun intended).

DENNIS - 2-27-2009 at 07:17 PM

The Peso heads into the weekend at 15.2555 to one. Now's the time to stock up on Cerveza.

bajabound2005 - 2-27-2009 at 08:50 PM

Yup, we loaded up on pesos this AM in Loreto and went shopping for stuff selling in pesos. Had a great time and great shop! Where they have dollars and pesos on the price tag, the prices were 11:1...we so scored paying in pesos.

slimshady - 2-27-2009 at 09:49 PM

Maybe those builders in Los Cabos will stop charging American Prices for Mexican wages.

DENNIS - 2-28-2009 at 07:16 AM

Quote:

Originally posted by slimshady
Maybe those builders in Los Cabos will stop charging American Prices for Mexican wages.

Ya think?????

ncampion - 2-28-2009 at 07:41 AM

Quote:

Originally posted by slimshady
Maybe those builders in Los Cabos will stop charging American Prices for Mexican wages.

Along this line, does anyone have any current knowledge of building prices now that the builders are all idle? I'm partictularly interested in the Loreto area as the costs had gone through the roof the past several years. Would like to see them come back to something reasonable since I'm hoping to build soon.

.

gnukid - 2-28-2009 at 07:54 AM

The builders are idle but developers say wait a little longer for prices to drop. At the moment the prices in many cases are higher to make up for the lack of work!@#$% Though I am sure anyone interested can get a project going at a fair rate now.

ligui - 2-28-2009 at 08:07 AM

good local builder and friend in loreto

Martin Sanchez 011-52-1-613-1093256

Give him a call for a quote , speaks english

BajaGringo - 2-28-2009 at 08:31 AM

This is a great time to build if you are your own general contractor. I have saved a ton on my current project with the exchange of late.

gnukid

BajaRob - 2-28-2009 at 09:02 AM

Are you on a boat in Marina de la Paz? I had my Tayana 52 "Windstalker" there for 3 years in the late 80s and early 90s. Mac and Mary were close to retirement then. I later read in Latitude 38 that their son Neil had taken over the day to day management. I stopped by the Marina last February and was quite surprised to see Mac coming down the stairs. Mary was was in the office. They looked the same as they did almost 20 years ago. Mac proudly showed me around the rebuilt marina. Great people.
When we left La Pa we were getting about 3500 pesos to the dollar. We kept 2-3 million pesos on hand.

[Edited on 2-28-2009 by BajaRob]

Woooosh - 2-28-2009 at 09:26 AM

Quote:

Originally posted by gnukid
The builders are idle but developers say wait a little longer for prices to drop. At the moment the prices in many cases are higher to make up for the lack of work!@#$% Though I am sure anyone interested can get a project going at a fair rate now.

The builders now get to pick and choose which workers stay and which ones go- now that the amount of projects and the pace has slowed in baja norte. The sloppy and untalented builders/workers are still available at the same stuck on stupid high prices.

gnukid - 2-28-2009 at 09:59 AM

BajaRob,

I'm close to MLP. We go on trips from there as a base by boat and by car. This year I am doing remote camping and adventures to kitesurf, surf, fish and cookout. I like to cook-excellent solar cooked chili and jurel last night!!! Soon I'll be on the Pacific.

At the moment I am on a kitesurfing trip near Punta Gorda. Good wind today as it looks like a north wind has arrived, cooler temps. No wetsuits needed as the water is quite nice.

Mac Shroyer of MLP is an amazing story, a real hero of mine, as is Mary and Neil. They are growing in this economic time, getting more land and homes in the region as I understand and have more and more space and buildings in the area... they took over the Marine Chandlery across from the marina too.

Besides the panga, Mac pioneered a pier pile driving system with high pressure water pump which has allowed him to rebuild the marina stronger and make protected slips for larger boats on the outside. There is space for over 100' grand yachts and a nice community. Smart.
So if you are looking for a marina MLP is a nice community option over the other commercial spots.

Speaking of progress, I know of a few new restaurants and art stores in progress opening soon in La Paz. Many believe this is an excellent time to grow and they are. I'll post more about that as these cool new spots open up including an amazing indigenous art store. We are using stone, recycled construction materials, found wood and carizal to build plus many more artisans are developing traditional skills in these tough times. Its been a lot of fun.

Here's a walkway to a new organic pizzaeria of recycled cement opening sometime in the next year or two.

Acid wash floor using various leftover remains of different colors for sea-like look.

[Edited on 2-28-2009 by gnukid]

[Edited on 2-28-2009 by gnukid]

DENNIS - 2-28-2009 at 10:55 AM

Quote:

Originally posted by Woooosh
The builders now get to pick and choose which workers stay and which ones go- now that the amount of projects and the pace has slowed in baja norte. The sloppy and untalented builders/workers are still available at the same stuck on stupid high prices.

There should be a lot of high talent coming out of the states since construction has skidded to a stop. Trouble could be that they want 40 dollars an hour. Starvation will bring a lot of these guys to their senses.

bajabound2005 - 3-2-2009 at 06:59 AM

Today's rate: 1 USD=15.317 MXN

ckiefer - 3-2-2009 at 07:12 AM

Slightly higher than the rate you get at the bank. Any idea who is offering this rate?

Quote:

Originally posted by DENNIS
For those who don't have it at their fingertips, here you go:

http://finance.yahoo.com/currency-converter?amt=1&from=U...

OOOOPS...Just change the currencys and bookmark it and it will stay where it belongs, dollars to pesos.

[Edited on 2-27-2009 by DENNIS]

[Edited on 2-28-2009 by BajaNomad]

dianaji - 3-2-2009 at 07:30 AM

Quote:

Originally posted by gnukid
BajaRob,

I'm close to MLP. We go on trips from there as a base by boat and by car. This year I am doing remote camping and adventures to kitesurf, surf, fish and cookout. I like to cook-excellent solar cooked chili and jurel last night!!! Soon I'll be on the Pacific.

At the moment I am on a kitesurfing trip near Punta Gorda. Good wind today as it looks like a north wind has arrived, cooler temps. No wetsuits needed as the water is quite nice.

Mac Shroyer of MLP is an amazing story, a real hero of mine, as is Mary and Neil. They are growing in this economic time, getting more land and homes in the region as I understand and have more and more space and buildings in the area... they took over the Marine Chandlery across from the marina too.

Besides the panga, Mac pioneered a pier pile driving system with high pressure water pump which has allowed him to rebuild the marina stronger and make protected slips for larger boats on the outside. There is space for over 100' grand yachts and a nice community. Smart.
So if you are looking for a marina MLP is a nice community option over the other commercial spots.

Speaking of progress, I know of a few new restaurants and art stores in progress opening soon in La Paz. Many believe this is an excellent time to grow and they are. I'll post more about that as these cool new spots open up including an amazing indigenous art store. We are using stone, recycled construction materials, found wood and carizal to build plus many more artisans are developing traditional skills in these tough times. Its been a lot of fun.

Here's a walkway to a new organic pizzaeria of recycled cement opening sometime in the next year or two.

Acid wash floor using various leftover remains of different colors for sea-like look.

[Edited on 2-28-2009 by gnukid]

[Edited on 2-28-2009 by gnukid]

I adore that acid wash...can u tell me the formula?

also, am just starting solar cooking. what kind of cooker do u have? i made one from a car window shade, and another from cardboard... want to get a fresnel lens

currency

bacquito - 3-2-2009 at 07:44 AM

Quote:

Originally posted by DENNIS
For those who don't have it at their fingertips, here you go:

http://finance.yahoo.com/currency-converter?amt=1&from=U...

OOOOPS...Just change the currencys and bookmark it and it will stay where it belongs, dollars to pesos.

Thanks for the information.

[Edited on 2-27-2009 by DENNIS]

[Edited on 2-28-2009 by BajaNomad]

DENNIS - 3-2-2009 at 09:48 AM

Quote:

Originally posted by ckiefer
Slightly higher than the rate you get at the bank. Any idea who is offering this rate?

Probably nobody on the street level. It just gives the high end so you can tell how severly you're being screwed.

Woooosh - 3-2-2009 at 09:53 AM

Quote:

Originally posted by DENNIS

Quote:

No senses. They will live for years on beans, rice and tortillas before working for one peso less than they think they deserve. This actually the reason Mexico will fare better than most countries as the world economy slides- Mexicans can live poor for a long time and not get stressed over it.

DENNIS - 3-2-2009 at 09:56 AM

Quote:

Originally posted by Woooosh
Mexicans can live poor for a long time and not get stressed over it.

Too bad not all of them choose to do that. A better wage has loaded the cartel ranks with ambitious "workers."

dianaji - 3-2-2009 at 10:09 AM

i have noticed some of americans that do work in mexico still charge american fees. i'm wondering why. one reason i am moving to mexico is to survive, and to live affordably, not to continue u.s. standards. of course there are other reasons why i love baja...like fish!

ckiefer - 3-2-2009 at 04:02 PM

Bancomer is holding this afternoon at 15.25:1

24baja - 3-2-2009 at 05:46 PM

Just called Bank of America in Oregon the current exchange is peso= .0698 should equal out to 15.478 US. Am thinking of exchanging here before we leave. Any advice?

bajalou - 3-2-2009 at 06:21 PM

Probably be higher when you get down here unless you're leaving today.

bajabound2005 - 3-2-2009 at 06:41 PM

The Cambios in Ensenada were all at 15:1 today. With our B of A ATM card at Santander, we got 15.07 today. Calimax was doing 14.9:1; Pemex looks to be doing 15:1.

24Baja: you need to ask the bank what rate THEY will give you. They gave you the "world" exchange rate when you called, not what they would give you if walked in to exchange dollars for pesos. Take note of what we got today...that's the B of A rate, not Santander's.

bajamigo - 3-2-2009 at 07:04 PM

Quote:

Originally posted by DENNIS
Nobody will invest in a country which won't deal with the true value of its money.

That's why we're here.

24baja - 3-2-2009 at 08:55 PM

Thanks for your info Bajalou & Bajabound2005, We don't leave until the 19th and I have to give them 5 days to order the Pesos into the bank so I eill wait a week and check the wxchange rate then. Connie