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Old 02-27-2019, 02:43 PM
 
142 posts, read 27,415 times
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Quote:
Originally Posted by pman View Post
in many cases, such as argentina, the main culprit was an inability to control spending. ending the link hasn't resulted in a magically prosperous country either.
Exactly, dollar or no dollar is not what its important.
for example Norway has a devaluated currency but it is one of the richest countries in the world.
and has refused adopting the EURO, so has Denmark, why?

Joining the Euro would make their exports too expensive to compete in the market.

Ecuador adopted the US dollar as its currency and currently is having issues selling its products abroad due to the high cost, for Ecuador the US has brought currency stability but has killed its exports and getting fresh dollars is becoming harder and harder. Lost of jobs has been lost. The current president is talking about re-establishing the Ecuadorean currency back.

In recent years, the U.S. dollar has continuously appreciated against other currencies in Latin America, making the price of goods in Ecuador higher than that in neighboring Colombia and Peru. The appreciation of the U.S. dollar against other currencies has decreased the net exports of commodities from Ecuador, which, coupled with the fall in oil prices, has constrained the country’s potential for economic growth.

Other US states in the mainland cant devaluate the dollar locally, but some do enjoy cheaper prices, low taxes, easy access for shipping ect. Attracting investors and companies. PR has none of that.

As I say I dont know much about DR (went there once and it was ok, nothing too crazy). Someone recommended this videos , is very recent and seems to be even handed about the economic situation there.


https://www.youtube.com/watch?v=tdzqYWmH08o


The overspending is the difficult issue to dealt with in Latam and even the US, the deficit just keep growing.
but debt is calculated as a percent of GDP, if the Dominican GDP keeps growing, so can its debt. (not a big issue as long as the economy moves up)

Last edited by Snapshoot; 02-27-2019 at 03:12 PM..
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Old 02-27-2019, 03:22 PM
 
Location: Philly
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Quote:
Norway is basically an exporter of raw materials and semi-processed goods. The country is richly endowed with natural resources - petroleum, hydropower, fish, forests and minerals - and is highly dependent on its oil production and international oil prices. Only Saudi Arabia exports more oil than Norway. Norway imports more than half its food needs.*
8. NORWAY
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Old 02-27-2019, 03:27 PM
 
Location: Philly
9,911 posts, read 13,902,512 times
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Ecuador also has a debt problem
https://www.latimes.com/world/la-fg-...210-story.html
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Old 02-28-2019, 12:23 PM
 
10,895 posts, read 3,609,769 times
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let's return to the topic "The Jones Act"


The facts are as follows:


1. The Jones Act does not prohibit foreign vessels from transporting supplies to Puerto Rico. In fact, nearly two-thirds of the vessels calling in Puerto Rico are foreign flag and nearly all of the fuel transported to Puerto Rico is delivered aboard foreign-flag vessels.


2. Maritime labor does not oppose Jones Act waivers in emergencies when there have not been enough U.S.-flag ships available to transport cargo between U.S. ports. There are currently 15 U.S.-flag ships and U.S.-flag oceangoing tug/barge combinations regularly serving Puerto Rico. These vessels alone are now bringing in more supplies than can be distributed ashore. Other U.S. flag commercial vessels are available and over 60 government-owned reserve cargo vessels that can be called into action and fully operational with 72 hours.


3. If a shortage of available U.S.-flag shipping hinders relief efforts in the future, maritime labor will support a temporary Jones Act waiver.


4. Spreading falsehoods about the Jones Act is harmful to the economic and military security of the United States. The Jones Act facilitates regular, reliable shipping services between the Island and other U.S. ports and at the same time promotes good paying Union jobs for Puerto Ricans and other Americans, while safeguarding the United States shipbuilding industry and merchant marine in times of peace and war.


https://www.americanmaritimepartners...-rico-economy/


https://gcaptain.com/new-report-debu...n-puerto-rico/
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Old 02-28-2019, 12:50 PM
 
Location: Philly
9,911 posts, read 13,902,512 times
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Quote:
Originally Posted by Hellion1999 View Post

1. The Jones Act does not prohibit foreign vessels from transporting supplies to Puerto Rico. In fact, nearly two-thirds of the vessels calling in Puerto Rico are foreign flag and nearly all of the fuel transported to Puerto Rico is delivered aboard foreign-flag vessels.
indeed, as demonstrated, it is driving up the cost of trade with the states and forcing importation of goods from foreign countries at higher prices. waivers for relief is irrelevant, the island needs permanent relief which is good for both the the mainland and the islands/alaska. whether that relief comes in the form of subsidized jones act vessels or a permanent waiver for the non-contiguous territories or states is largely is the only legitimate debate.
the only one peddling falsehoods about the jones act is you. there is no evidence that it is good for the US economy or security as currently structure yet the evidence is solid that it drives up shipping expense either directly or indirectly.
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Old 02-28-2019, 01:33 PM
 
10,895 posts, read 3,609,769 times
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Quote:
Originally Posted by pman View Post
indeed, as demonstrated, it is driving up the cost of trade with the states and forcing importation of goods from foreign countries at higher prices. waivers for relief is irrelevant, the island needs permanent relief which is good for both the the mainland and the islands/alaska. whether that relief comes in the form of subsidized jones act vessels or a permanent waiver for the non-contiguous territories or states is largely is the only legitimate debate.
the only one peddling falsehoods about the jones act is you. there is no evidence that it is good for the US economy or security as currently structure yet the evidence is solid that it drives up shipping expense either directly or indirectly.

There are many factors of the prices on foreign goods which you ignore and just keep repeating the same boogie man myth that if we just get rid of the Jones Act, prices of goods will come down and people's wages will go up.....that's just false and nobody seriously believes that.



Productivity, trade policy, exchange rates, foreign currency reserves, Inflation, Oil prices, and regulations and supply and demand affect prices of goods. That's beyond the control of Puerto Rico apart from the taxes and business regulations they add up once the goods enter Puerto Rico, that also is another factor of prices of goods in the island.



Many people that work in the industry and the military back the Jones Act , for you to say that I'm the only one who is making this up, well it's laughable.
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Old 04-12-2019, 05:04 AM
 
Location: Philly
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https://www.civilbeat.org/2018/11/jo...wth-in-hawaii/
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Old 04-12-2019, 10:17 AM
 
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https://www.winston.com/en/maritime-...m-fiction.html


Quote:
The U.S. restricts all of its domestic trade—whether by air, rail, truck or otherwise—to U.S. citizens (or permanent residents or qualified visa holders), who must comply with U.S. safety, environmental, labor, tax, and other laws. Waiving the Jones Act is like waiving all those laws, and is the equivalent of letting Mexican trucks owned and operated by Mexican citizens be used to take aid to Houston from Dallas without having to comply with U.S. speed limits, U.S. weight limits, U.S. work hour restrictions, not paying U.S. taxes, etc.
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Old 04-12-2019, 03:53 PM
 
Location: Boston (city limits)
29 posts, read 4,036 times
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Default What's the Case in Other Territories?

I have always criticized the media in Puerto Rico for spreading the false belief that cabotage laws affect Puerto Rico only. We all know that those laws apply to all the non-contiguous jurisdictions. The local media helps perpetuate an isolationist mentality like if all the problems of Puerto Rico occur in the island only... like if there are no other territories on the same page. But... who explains that to people in the island? I came to know all of that after I learned English and was living in the states. English is a barrier for islanders, not only for class and economic mobility, but for doing research beyond what the media reports in Spanish.

What's the case in other jurisdictions?
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Old 04-12-2019, 05:13 PM
 
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I'm always going to side with the interests of the American workers and domestic companies over foreign.


Controlling our domestic routes exclusively for Americans (that includes Puerto Ricans) it creates jobs and jobs pay taxes for revenues to the government. Our Trade agreements right now with other countries like China are unbalanced. They don't allow our products in their country, and the few products they do we have to pay high taxes and they don't allow us to use their domestic routes.

Our Domestic trade is filled with a lot of blue collar jobs from Truck Drivers, Boats, Docks, air, train and if they get rid of the Jones Act and outsource our domestic routes to foreigners, our working class will be hurting and the government will lose revenues.

Is the equivalent of letting Mexican trucks owned and operated by Mexican citizens be used to take aid to Houston from Dallas without having to comply with U.S. speed limits, U.S. weight limits, U.S. work hour restrictions, not paying U.S. taxes.


We have some people in our government (too many in my opinion) that are globalists and look out for the best interests of foreign countries and foreign companies (like China) over the interests of the American Working Class because it's legal for foreign influence to lobby our representatives. Look how many jobs the middle class lost when NAFTA was passed in 1993. It hurt Puerto Rico also because it took away the 936 clauses and a lot of Middle Class/Blue Collar Jobs went to Mexico and other 3rd world countries....it was great for Mexico but not for our working class.


If the people that want to get rid of the Jones Act and just open up our domestic routes to the world can guarantee that our working class won't get hurt or bring the wages down then we can have a conversation but they can't because they know the answer.

Last edited by Hellion1999; 04-12-2019 at 05:38 PM..
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