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Jim Bentein

Nov 30, 1919, 12:00 AM

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Rather Mexico than U.S.-Canada during a Depression

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Just after I probably surprised everyone who has follwed my posts by posting all the good things about the Lakeside (and there are many) I'm going to do it again. My personal view (which I've expressed before on this forum) is that we have only started to see the unwinding of the great North American stock market and real estate bubble. I believe the Dow could sink to a level of 6,000 or less and I believe the next shoe to drop will be N.A. real estate, where frightened stock market dollars have poured into (leading to a NASDAQ-type top there as well in many areas). But I also believe that for expats Mexico is a great escape from the problems I see coming for N.A. (Sadly, the Mexicans will be victims once again). The peso has just started to tank and for anyone with U.S., Canadian or European currency prices here will get cheaper. That means anyone contemplating a move now (who managed to salvage something fom the market meltdown) is generally making the right move. Better than "buying at the top" in Naples, Florida, for instance (where my nephew sells super inflated real estate). Again, particularly in the Lakeside, San Miguel and Vallarta, where real estate "values" are also inflated, I'd suggest finding a good rental and waiting out the downturn. But, my point is (and I do have a point) one could do worse than to live in Mexico, where any bubbles are minor compared to much of North America. Just IMHO but I wonder how others feel about these ramblings. Incidentally, if you're actually interested I can mention numerous non wacko sources for my view that we're headed for more of a crash. Hope I don't spoil anyone's July 4 weekend but I'ver always believed one is better discussing these things than finding a bunch of sand to bury your head in.<p>Luego



David

Nov 30, 1919, 12:00 AM

Post #2 of 11 (3004 views)

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Rather Mexico than U.S.-Canada during a Depression

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I totally disagree Jim, and Investing is what I do.
Personally, Canada is the safest place to be during any economic cycle, defecit Free, Surplus being paid down, legislated Provincial Debt Free budgets, clean water, lots of energy,a nd if you don'tlike snow, you can DRIVE to the sun within a day.
30 Celsius, sun is shining, Georgian Bay ain't drying up and I can eat the Salmon from it.
Do not forget, Mortgage Free and RRSP's, the Canadian Way.


Jim Bentein

Nov 30, 1919, 12:00 AM

Post #3 of 11 (3005 views)

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Rather Mexico than U.S.-Canada during a Depression

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I happen to be a Canadian and I know my wife and I can't live as well as we do as cheaply as we do in Mexico were we to move back to Canada. In addition, we went non-resident for tax purposes, so don't pay taxes. But I do agree with you (we're biawsed) that Canada is a great country.


Jim Bentein

Nov 30, 1919, 12:00 AM

Post #4 of 11 (3011 views)

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Rather Mexico than U.S.-Canada during a Depression

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Hola:
You wouldn't be finding the most liberal Canadians in Ajijic, would you? Most have gone non-resident for tax purposes (still Canadian citizens but don't pay taxes any longer in Canada, something Americans can't do). They leave and forget how they were able to amass enough money to begin with to retire (usually early) to Mexico. That's what we did (my wife and I did) and I will never forget how lucky we were to be born Canadians.Yes, it is socialistic, in some ways. No, that's not necessarily all bad. For instance, do they (and do you) prefer seeing beggers on the streets here, handicapped
people without any government programs to turn to and other general misery because there is no social safety net? I never begrudged paying taxes if they went to help those legitimately in need. However, this kinder society approach has been perhaps a little overdone in Canada, with our social welfare system often too generous and our hand outs to native people far beyond what they should be. Taxes are generally too high for this reason (although in Alberta, the oil-rich province I'm from, they're lower than taxes in many U.S. states). Our socialized health care system also is much criticised by Canada expats. Yes, it's much too bureaucratic. But it is clearly better than the alternative of no health care, which many poor people here in Mexico and the U.S. have to cope with. In fact, imagine your retirement years without having to worry about paying for private health care (were you still living in the U.S.)? Inefficiencies aside, that's the happy prospect all Canadians can look forward to. It's interesting that Canada's economy is now outperforming that of the U.S. and will (in my opinion) right through the upcoming second dip in the recession (and possibly a new Depressin, in my opinion). If unbridled U.S.-style, free enterprise is so wonderful, why is the U.S. economic model in such disarray now? I'd argue some government presence (and regulation) is preferable to letting the crooks on Wall Street run everything. Finally, do Canadians have a chip on their shoulders re. Americans?The answer, clearly is no. We have a strong love-hate relationship with them. How could we approach Americans any other way, given the influence you have had on us? But,like the Mexicans, we seek respect for our country and its institutions. We are your most important trading partner and, in many ways, your best friend. Too often we don't
find that among Americans - many of whom believe the sun rises and sets in Washington, D.C. and Wall Street. It has been setting more lately than rising and for that you must look to yourselves for the answers.


Bill M.

Nov 30, 1919, 12:00 AM

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Rather Mexico than U.S.-Canada during a Depression

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Iīm an American and have never been to Canada, so pardon my ignorance. I have been told by our Canadian neighbors in Ajijic that Canada is socialistic (medical system in particular, and government in general) and that it receives more from the US (e.g. national security) than it gives back. My daugther went to Canada to work and felt a sense of discrimination and resentment toward her just because she is American. That troubled me. <p>She thought it was because the Canadians thought Americans were taking jobs away from them. I like the Canadians Iīve met. Fine folks. Any comments or am I misinformed? Please, my Canadian friends, tell me the truth. What do you think about reported Canadian socialism, American capitalism and supposed resentment of us Yanks? I have my own gripes about America, and I have always regarded Canada as family. I just want your reaction. Bill Meadows


Bill Meadows

Nov 30, 1919, 12:00 AM

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Rather Mexico than U.S.-Canada during a Depression

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Thank you, JIm. That is the most lucid and logical explanation I have heard re US and Candadian relationships. America is a land of greed and back stabbing. But only at the top where the thieves control Wall Street and the Government. I wish the good people of our great nations could overcome the problems, but, forsooth, itīs too late. Respectfully, Bill Meadows, and I read every post of yours. Maybe itīs because weīre both journalists and have a professional understanding. Just donīt get two journalists in the same room or there will be fistfight. But not between us. Que le vaya bien.


Bill

Nov 30, 1919, 12:00 AM

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Rather Mexico than U.S.-Canada during a Depression

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Youīre right.


Bill Meadows

Nov 30, 1919, 12:00 AM

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Rather Mexico than U.S.-Canada during a Depression

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Thank you Mr. Bentein for your comments. I have always loved Canadians and I donīt know why. It disressed me to think you Canucks had a chip on your shoulders agains us Yanks. There is plenty wrong with the U.S. and itīs culture of greed. I just seek honest people. Like I said, I like the Canadians Iīve met here. I have Mexican blood in me and grew up in Southern California, so I have a built in affection for Mexicans, and Canadians are strangers to me. From what you say, I now regard Canadians as I do persons from other states in the U.S. My fatherīs side of the family is from Oklahoma so I respect differences. My blood is Mexican, German and Anglo so Iīm a mutt who appreciates different cultures, and I still love Canadians as much as I do Okies. Mexicans? How can one not love Mexicans.


David

Nov 30, 1919, 12:00 AM

Post #9 of 11 (3004 views)

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Rather Mexico than U.S.-Canada during a Depression

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Bill, we are all mutts, and your genealogy could describe an Immigrant who decided to move to Canada, or to the USA, or to Canada.<p>Canada, Mexico, the USA, are Politically Inspired Nations, an artificial line in the land drew by Men years ago to meet a Political Agenda.<p>The People are the same, the Social and Political and Economic Agendas are differant.<p>People who lve in Ontario are very similar to New Yorkers and to people from Michigan, Albertans are more like Coloradians, and No One is like Texans.


Bill

Nov 30, 1919, 12:00 AM

Post #10 of 11 (3002 views)

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Rather Mexico than U.S.-Canada during a Depression

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I like you`re observation that no one is like Texans. They are indeed a breed apart. Take George W. I`ve never liked Texans but I love them and G.W.? Well, he may be a wild and crazy guy, but he`s our guy, so what can I say? I`m a Californian and a lot of people do not like us. Why? I don`t understand but I`m one, so I don`t know what to say. Maybe I`m part of the problem.


ripvanw

Nov 30, 1919, 12:00 AM

Post #11 of 11 (3003 views)

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Rather Mexico than U.S.-Canada during a Depression

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Well the QQQ broke 22 today in after hours trading..a critical level..indicating 18s..due to the JPM warning..not good. Tomrrow should be very interesting as they attempt to defend their own.<p>rip
 
 
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