Nov. 18, 2009
France
PLUS:
- Border Run With Kids!...
- London Theater, The U.S. Dollar, And China's Renminbi...
- "Kathleen, You Really Missed Out!"...Big Expat Doings At Mojito's In Panama's Casco Viejo...
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Only 8 VIP Spots Remain!
It's time to come see for yourself what all the fuss is about down here in sunny Panama. We want to do everything we can to motivate you to make the trip.
So here's what's on the table for the first 30 readers who register for our
Live and Invest in Panama Conference scheduled for Feb. 24-26, 2010:
- VIP Transfer from the airport to your hotel (on us)...
- VIP Custom Tour of Panama City and the surrounding beach areas, either before or after the conference (not during...we don't want you to miss out on any of the important information shared over the two-and-a-half days of the event itself!)...
- VIP Luncheon on the final day of the seminar featuring a special Panama Expat Panel Discussion (again, with our compliments)...
Still not convinced you need to book your plane reservations right now to be here in Panama City with us Feb. 24-26, 2010?
How about if we put our in-country staff at your disposal to make sure you get the maximum value out of every minute you're in Panama to participate in the conference?
If you're one of the first 30 to register for our Live and Invest in Panama Feb. 24-26, 2010, event, all our firsthand Panama expat knowledge, experience, and judgment will be at your disposal. For obvious reasons, we can't extend this offer to everyone. We wouldn't be able to deliver.
But for the first 30 who sign on, we promise to provide an unparallel level of support, both as you make plans for your visit and during your stay. You tell us what you need, and we'll help you find it. You tell us what you want to do, and we'll do everything we can to help make it happen.
What are you waiting for? Here in Panama, the sun is shining, and the future is bright. You owe it to yourself to come see for yourself.
Contact our Events Director Sofia Hogan now to get your name on the First 30 Registered Attendees List:
SHogan@LiveandInvestOverseas.com. You can also reach Sofia by phone, toll-free from the States: 1-888-627-8834. As of this writing, 8 VIP spots remain available.
Or register now online here. When you do, Sofia will respond immediately to confirm whether or not you're among the first 30 sign-ups.
On behalf of our entire Panama Team, we can't wait to hear from you and to welcome you to Panama next February!
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Dear Live and Invest Overseas Reader,
"
France has one of the lowest retirement ages, has the longest life expectancy in Europe, and spends the most on health care," writes Correspondent from that country Lucy Culpepper. "Its workers benefit from 34 days holiday a year, and France comes behind only Spain and Italy for hours of sunshine. This is all according to a study recently published by consumer website uSwitch.com.
"The study compared 17 factors for France, Spain, Denmark, the Netherlands, Germany, Poland, Ireland, Sweden, Italy, and Britain. Variables such as net income, taxes, and the cost of essential goods (fuel, food, and energy bills) were examined, along with lifestyle factors (hours of sunshine, holiday entitlement, working hours, and life expectancy) to provide a complete picture of the quality of life experienced in each country.
"The findings show that people in the UK and Ireland have the poorest quality of life, while the French and Spanish enjoy the highest. As I settle into the French way of life, this report does not come as a surprise. The quality of life for my immediate family, my parents, and one of my sisters is certainly higher than it was for them in the UK, and it is the same if not higher than it was for us in Spain.
"'This year's index does not reveal the full impact of the recession,' notes the report. 'This can be expected to show next year. However, France officially went into recession in May 2009 and has already emerged (August 2009). This quick turnaround could see it maintaining a high quality of life despite the economic difficulties facing most European nations.'"
Kathleen Peddicord
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"Britain's National Theatre is a People's Cementbox built on the South Bank of the Thames in the heyday of Brutalist Architecture during the first post-War Labour government of the 1950s," writes Correspondent Vivian Lewis (
www.global-investing.com) from
London.
"So the playhouse comes with political baggage.
"It is thus not too surprising that the political playwright David Hare was given a platform here to 'seek to understand the financial crisis.' Most of his play is tendentiously full of left-wing cliches. But there are exceptions I like. The actor playing Lawyer Harry Lovelock explains:
"'It wasn't by chance that banking became so complicated. Because the more complicated it becomes, the fewer people understand it. And that suits bankers fine. Authority is bestowed on those who can maintain the mystique. Gambling is fine. I've nothing against gambling with your own money. But when you begin to gamble with your customers' money, that's a different thing, isn't it? That's when ethical problems arise.'
"And here is what investment banker David Freud told Hare:
"'Everyone was fooled by the fact that the boom lasted so long--not six years, which is normal, or 10, which is normal. This one lasted 17. Why? The real reason? Because people in China were working for 46 cents an hour, that's why. And so inflation was kept low, because all these cheap goods flooded onto the market. They were working for us, for nothing. All you had to do to make money was to be in the right place at the right time. You punted, and every time you punted, you won. After a lifetime in the City, I've met an awful lot of leading businessmen, and, in the end, I've concluded that there's no such thing as a genius entrepreneur.'
"David Hare would be the right person to write about Rusal. Its chief oligarch, Oleg Deripasa, is trying to float off a chunk of its shares to avoid bankruptcy. He owes US$74 billion to the banks. As he was banned from the United States, even Goldman Sachs found the risks of a Rusal ADR offering too risky. Then Deripasa tried to interest resource-hungry Chinese via an IPO in Hong Kong, again frustrated apparently by rumors of criminal links. Now he is aiming to sell 10% of Rusal in Paris. Among the cast of characters who are partners of Deripasa are Glencore of Switzerland, the pardoned Mark Rich, and Roman Abramovich, a more solvent oligarch. Do not buy this aluminum stock unless you are protected by the Mafia.
"Today, while President Obama gingerly steps around the issue of the exchange rate of the renminbi (which translates as 'the people's currency' in South Bankspeak), and while China's own economic leaders contradict each other about the link between the RMB and the $, think of Mr. Freud.
"Here is my proposed solution with the advantage of requiring no currency-setting measures by the split Beijing leadership. As China stimulates its economy, and provides better social services (like education, health care, and pensions), Chinese people will begin consuming more. And, naturally, they will want imported goods. The huge stock of surplus dollars that China has piled up will shrink to pay for those foreign goods. There will be fewer dollars in the cache to worry about.
"Chinese buying imports will demand that they be priced accessibly in the local currency. And the Beijing bosses, terrified of popular discontent (and they are), will allow access to affordable foreign exchange.
"And the renminbi will move up to a more natural level as China becomes a normal world trading partner of other countries."
"Kathleen, you really missed out!" exclaimed Web Marketing Manager Irina as she came into the office this morning.
"You should have come by last night."
Irina and others from our office had spent the evening at the new Mojito's bar in Panama City's old town,
Casco Viejo.
"You should have explained where you were going, Irina," I replied. "I've heard about that place. It's just around the corner from our house. I would have come by if I'd known..."
"Well, it may not be your kind of place, Kathleen," Marketing Manager Harry offered. "It's really little more than a vacant lot. The building mostly collapsed at some point. The stone and brick walls that remain are lit by spotlights and really cool, but there's no roof. The bar is made of corrugated tin. You sit on stools. There's no kitchen. They serve hamburgers and hot dogs cooked on an open grill. No specialty drinks. You drink local beer."
"Now what are you implying, Harry? That I'm too old for something like that?"
"The place was packed last night," Irina went on. "They did a special promotion for a Quiz Night. All kinds of expats showed up, all ages. We worked in teams to try to answer questions for prizes. It really was a lot of fun."
"Next time, let me know in advance," I asked. "You know, back in the day, I was a regular at places like that. And I can still venture out now and then...as long as I'm home in time to put Jack to bed..."
"A reader wrote yesterday to ask that we remember those considering
making a move abroad with children. I thought I'd write to share the story of an experience we had while traveling last year, with our two children, in search of the ideal spot for our family to settle.
"My husband, two children, and I made the trip from El Valle de Anton, Panama, to San Jose, Costa Rica last July by bus. We bought the tickets from the Panaline bus company at the Panama City bus station and then rode back to El Valle not really believing that the bus would appear let alone stop at a tiny road junction, to collect us on the Panamanian Highway, at 11:30 at night.
"I was pretty worried about making such a long journey with a 6- and a 9-year-old. I had visions of the bus flying past us, of the kids throwing up the whole way, of uncomfortable seats...everything bad. The trip turned out to be the complete opposite experience.
"First, the bus stopped for us! Then the driver leapt out, loaded our bags for us, showed us to our seats, and we were off. The driver even stopped a violent Kung Fu movie when we asked him if he would, and the children went to sleep and didn't wake until the border early in the morning.
"We were traveling with eight huge suitcases, something else that made me anxious. But we got lots of help unloading and reloading the bags from the driver at the customs checkpoints. We needed it, as the customs guys found our weird mix of luggage (teddy bears, scooters, laptops, games...) quite challenging! The drivers transported all the bags across No Man's Land, leaving us to saunter along, feeling mighty relieved and somewhat pleased with ourselves, buying tasty breakfast goodies along the way.
"The children enjoyed the bus journey more than flying, as they got to move about, see the 'jungle,' scream at the vertical roadside drops as we climbed up into Costa Rica's Central Valley, and eat breakfast in Panama, then lunch in Costa Rica.
"Mummy and Daddy enjoyed it, too; a flight from Panama to Costa Rica would have cost us about US$1,000, while the bus journey cost US$100!
"A couple of warnings for readers thinking of doing this, too. First, don't consider the idea if you or your children get car sick; the road on the Costa Rica side is bumpy, tortuous, and somewhat hair-raising. Also, be aware of yourself and your belongings when you arrive in San Jose groggy from a night on a bus. The bus driver insisted we sit in the bus company's office, with all our bags, while we waited for a ride to our next rental home, rather than waiting out on the street."
-- France Correspondent Lucy Culpepper.
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