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Guest Post: You Can Live Well Here For Just $10/Day

Tyler Durden's picture




 

From Tim Staermose of The Sovereign Man

 

You can live well here for just $10/day

I first started coming regularly to Daet, in the Bicol region of the Philippines, more than 13-years ago.

It’s a sleepy, quiet, relaxed place without the bustle of Quezon or Manila… perfect for people looking to live an easy, simple life. Despite the bucolic setting, though, the telecom infrastructure is pretty stellar.

At my wife’s hotel last week, I was able to utilize a mobile broadband connection, which cost me the equivalent of $0.25 an hour, to sit and do what I do every day no matter where I am in the world– monitor and trade the Australian stock and options markets.

I even sent out a trading alert to my 4th Pillar subscribers from here when another great opportunity to make some safe money in the Aussie market became available.

I should also mention that Daet is incredibly cheap.

Wages for unskilled workers are about $4.65 per DAY.  If you buy food from the local markets or vendors and prepare it yourself, you can have quite a decent meal of fresh local fish, rice, and vegetables for less than $1 per person.

If you have a place to stay, even adding in a few luxuries (beer is about 50c a bottle, for example), you could live well here on $10 a day.

Down the road from my wife’s small hotel is a vacant beach lot for sale.  It’s priced at about $35,000, and the owners have spent a considerable amount of money improving it with access ramps and other structures leading down to the water.

The land is already planted with some crops, and there are ponds suitable for fish farming. Of course, construction costs here are quite cheap by western standards, and you could build a nice three-bedroom home for around $60,000.

In total, that’s less than $100,000 for a spacious beachfront home in a quiet, clean, pristinely beautiful place where living costs will only run $10/day.

IMG 0154 1024x768 You can live well here on just $10/day

One thing to keep in mind is that this is largely a cash market; there has been no rampant bubble created by teaser loans and negative real interest rates. Hence, prices haven’t moved much.

I believe it was Milton Friedman who said, “Inflation is always and everywhere a monetary phenomenon.”  From what I’ve observed around the world in property markets, I couldn’t agree more.

Property markets that are based on high leverage and cheap money are the quickest to rise and fall. Where property markets are based on cash transactions, though, prices tend to remain reasonable.

If you’re looking for great value, I’d put that among the key criteria in your search.  Assuming you have cash, seek out places where the real estate market is largely cash-based.  Daet is just one example of a cash market where there are some real bargains available– both in terms of property and living costs.

In the Philippines, the catch is that only Filipino citizens can buy land outright. A non-citizen may own only a 40% interest in real property.  So if you were interested, you’d need a Filipino proxy, or a carefully structured corporate vehicle through which to purchase land here.

I’ll have much more to tell you about the Philippines, my adopted home country, in future letters… including how I don’t have to pay taxes!

 

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Tue, 07/26/2011 - 12:49 | 1494917 Cognitive Dissonance
Cognitive Dissonance's picture

Hummmm

Global warming or not, world wide sea levels do seem to be rising. Let's just hope the land rises as well.

Tue, 07/26/2011 - 12:58 | 1494927 Popo
Popo's picture

Tim is full of it when he says he "doesn't have to pay taxes".

Unless of course, he's not an American citizen.  But as an American, you're on the hook no matter where you go.  

(I live in Asia,  and I still have to pay US taxes.  ...I wish it weren't the case... But even if you give up your US citizenship -- YOU'RE STILL ON THE HOOK FOR 10 YEARS!   Go figure that one out...  )

 

Update:  Why is this getting junked?  It's completely true.  

Tue, 07/26/2011 - 12:59 | 1494954 clymer
clymer's picture

because you are not suppose to complain about these taxes. It's [un]American

Tue, 07/26/2011 - 13:10 | 1495002 66Sexy
66Sexy's picture

Aside from the occasional beheading or kiddnapping of american tourists, im sure its lovely.

Tue, 07/26/2011 - 13:15 | 1495018 CrazyCooter
CrazyCooter's picture

Anytime you read a post like this that doesn't clearly address the reality of the legal and political systems which govern said real estate, one should run, not walk, to the nearest exit.

Richard Maybury's "Whatever Happened to Justice?" is a easy to read guide for picking a nation with "good" legal/political frameworks. I would never consider any foreign entity that didn't score highly based on the criteria RM put forth.

Regards,

Cooter

Tue, 07/26/2011 - 13:19 | 1495039 Ahmeexnal
Ahmeexnal's picture

"good" legal/political frameworks...as in...Norway?

Tue, 07/26/2011 - 13:33 | 1495096 Terminus C
Terminus C's picture

That was obviously a foreign attack conducted by a local agent.  You will find no place without crime.

Tue, 07/26/2011 - 14:05 | 1495213 Arthor Bearing
Arthor Bearing's picture

Why obviously? Other than because it confirms your beliefs

Tue, 07/26/2011 - 14:56 | 1495404 TheMerryPrankster
TheMerryPrankster's picture

obvious because - humans committ crimes, hence anywhere humans live there will be crimes.

no crimes = no humans

obviously

Tue, 07/26/2011 - 15:56 | 1495688 AnAnonymous
AnAnonymous's picture

That was obviously a foreign attack conducted by a local agent.

It would exatons of US propaganda to start paying back the US debt. How cheap. The obviously comes here and not elsewhere as you wish to make believe.

Tue, 07/26/2011 - 18:02 | 1496065 damage
damage's picture

In the Phillipines... all porno is illegal... and they can put you in jail for trying to import dildos.

Tue, 07/26/2011 - 18:51 | 1496201 I am a Man I am...
I am a Man I am Forty's picture

not going

Tue, 07/26/2011 - 15:56 | 1495689 AnAnonymous
AnAnonymous's picture

That was obviously a foreign attack conducted by a local agent.

It would exatons of US propaganda to start paying back the US debt. How cheap. The obviously comes here and not elsewhere as you wish to make believe.

Tue, 07/26/2011 - 15:56 | 1495690 AnAnonymous
AnAnonymous's picture

That was obviously a foreign attack conducted by a local agent.

It would exatons of US propaganda to start paying back the US debt. How cheap. The obviously comes here and not elsewhere as you wish to make believe.

Wed, 07/27/2011 - 00:36 | 1496872 Spitzer
Spitzer's picture

Just find a sexy tight Asian wife. Make sure she is no more then 15 years younger then you or you will be in for a screwing.

Tue, 07/26/2011 - 13:18 | 1495034 malikai
malikai's picture

Have you ever lived overseas and encountered your average american tourist? It's surprising more aren't kidnapped and beheaded. When you 'move' to a foreign land, you learn to blend in. It's a bit different.

Tue, 07/26/2011 - 14:15 | 1495258 toady
toady's picture

Anybody over 5'6" that doesn't have black hair will never 'blend in' in an asian country.

At 6'6" with light brown hair it was like a circus wherever I went for the whole two years I was over there.

You can stay home, or just try to ignore it when you go out, but its always there.

I was single at the time, so it worked for me.

Tue, 07/26/2011 - 15:13 | 1495491 malikai
malikai's picture

I get people staring at me all the time when I'm in China. Just get used to it. I've had people come up to me wanting to take pictures with me. Some of them even giving me their young kids to take a photo with. Blows my mind when it happens. I figure I could retire there and just be a paid prop for people wanting to get a photo with roundeye.

Tue, 07/26/2011 - 22:39 | 1496675 contagiousNY
contagiousNY's picture

Same here. On a NYC cruise from SSSeaport (almost completely asian) the chinese all wanted to take pics with my school kids on a field trip. I didnt feel rude saying no.

Tue, 07/26/2011 - 13:43 | 1495127 CrashisOptimistic
CrashisOptimistic's picture

Here is the reality of these live cheap in Philippines or Thailand or Panama or Ecuador articles that are all over the web for "RETIREMENT".

1) You have to jump through hoops to get a visa for anything past 90 days.  This usually involved tying up money that you may or may not ever get returned.  Or you marry a local.  Or if you don't marry a local and are under 50 years old, You Can't Do It.  Visa issues vary from country to country, but almost ALL articles like this have a guy talking from some special circumstance that he has that got him past the visa issue.

2) For some UNKNOWN reason, guys who present their cost of living budgets for these places leave out health care insurance.  It certainly costs less there, but it's not zero and they leave it out.  That $300 / month quote doesn't have health insurance in it.  If he has a local wife, he may have access to the barebones, basic citizen's health plan, but it won't cover 15 zillion things he will need someday.

3) Crime?  Beheadings?  Philippines has them only down south.  It's not everywhere.  Don't dismiss this stuff because of crime.

4) You can't work.  The visa you get will not let you work.  If you ignore it and presume they'll never know, it's not a fine.  It's jail.  Rather a lot of talk is starting about even "working online" being prohibited, or if not prohibited, taxed locally.  The US expat tax exemption of 90K or whatever it is, shields you from the US for EARNED income, but not from any local attempts to get money.

5) This all being said, the expat approach can work for many.  It's cheaper, if you can qualify.  But it's not free.

Tue, 07/26/2011 - 14:21 | 1495274 Zymurguy
Zymurguy's picture

Wait a minute Crash'

Are you telling me that I can't simply slip across the border there, secretly get a job and automatically get free healthcare, food subsidies, free education, scholarships for advanced education, social security?  You mean they would jail me and kick me out if they caught me?  Oh, the nerve!  They must be racists!!! (sarc' off)

Tue, 07/26/2011 - 14:38 | 1495329 A Nanny Moose
A Nanny Moose's picture

I see what you did thar!

Bravo!

Tue, 07/26/2011 - 14:33 | 1495310 Fred C Dobbs
Fred C Dobbs's picture

The visa game in the Philippines is not difficult.

Tue, 07/26/2011 - 15:05 | 1495449 Cathartes Aura
Cathartes Aura's picture

Or you marry a local

endlessly amusing when guys suggest marrying a "local" (often "Asian") woman to gain access to "cheap living" - when those same guys will piss 'n' moan about gold-digger women who "only marry them for their riches."

Tue, 07/26/2011 - 15:18 | 1495523 malikai
malikai's picture

I'm married to a local from China who is the exact opposite as you describe. Not everyone has that experience.

Tue, 07/26/2011 - 15:27 | 1495572 Cathartes Aura
Cathartes Aura's picture

oh, I agree malikai - I have friends who are married to Asian women, quite happily so - my post was merely pointing to an oft-made statement on these threads about women marrying solely to extract the poster's wealth, it was not directed to anyone who actually marries for reasons other than a means to an end.

Tue, 07/26/2011 - 15:34 | 1495606 fishface
fishface's picture

 

Crashisoptimistic

 

he doesn't have a car either, the car alone would cost 300$ a month

workwise he trades, most likely in OZ so by doing this no prob for the visa

in some countries it doesn't need a big investment if you start a business

buy a cafe and you're in

Tue, 07/26/2011 - 21:18 | 1496502 Magnum
Magnum's picture

Good post Crash.  It seems you are talking about Thailand regarding visa issues, as I know it's very difficult even if you are married to a local--you can not get residency permit.  But are you familiar with Philippines?

Wed, 07/27/2011 - 02:06 | 1496967 ExtinctSpecies
ExtinctSpecies's picture

Visa requirements and/or rates seem to change almost yearly in the Philippines.  Special retirement reidency visas require proof of retirement income and a dollar investment ($10,000 or more depending on age and income stream).  My understanding is that the application will cost $1,000+ counting the red tape; background check, physical, bribes...  

A tourist visa can be renewed every two months with total costs that will run abour $500 a year.  Current limit on routine tourist visa renewals is 12 months and then a couple more times with some added red tape.  Then you have to leave the country before you can restart the process.  Costs for tourist visas has doubled in the last 2 years.  (Warning:  I am no expert on this and do not try to keep up with the changes or specifics.  I let a travel agency manage my visa renewals and let them inform me of any rule or rate changes.  I verify those with other expats.)

Agree on the Crash compliment.  Good post.  Even in backwoods Bicol $10 a day not counting lodging would mean your life was pretty much food, drink, flip flops and internet. Housing there I'm sure is incredibly cheap ($100 a month for a decent western world style place?) but electricity if running air con even just at night to sleep will probably run close to another $100.  And periods without electricity will be a common occurance (without a generator). Broadband is expensive too.  I pay $45 a month for speeds that are embarrassing to descibe as broadband. 

Crash - Also right on the medical and fishface on the car.  However, most Filipinos don't have cars so there are cheap transportation options.  Unless one does extensive local travel or regular long distance local travel a car really isn't necessary.  I've lived in the Philippines for 5 years without transporatation and only on rare occasion do I have a situation where I wished I had a car.  Low end medical care is very cheap.  I buy a million dollar medical insurance policy that runs me about $1,000 a year.  Australians and most Europeans have a big advantage over US citizens as they can head home for none emergency health care.  Still, good emergency medical care can run into some serious money in the Philippines.  And lots of places will just leave you on the table to bleed out or whatever if you can't pay.

I doubt I could live out in the provinces somewhere without going bonkers but for someone who can do that the Philippines can be very inexpensive.  I like to eat out, go out with friends and have a good time, go to the movies, replace my worn out clothing...  I spend about $1,000 a month (actually more but I left out the blood sucking of my girlfriend's family).

Tue, 07/26/2011 - 13:45 | 1495138 Blotsky
Blotsky's picture

Yeah... Because Amerika doesnt know anything of kidnapping or murder...

Tue, 07/26/2011 - 14:52 | 1495287 Taint Boil
Taint Boil's picture


I live in Michigan but I do have a house in Mexico. I hear you … I can get buy pretty cheap, about a $100 week if I really wanted to. No property taxes (very little) No air conditioning needed, no heat needed, no insulation in the construction, no insulated glass, no insulated doors. Everything is available local. Don’t need a car – I can go to the “big city” for 90 cents. Everyone is poor but you know what – they’re HAPPY. Wish I had the guts to just go for it. I could still work there for a US company ………. But that is another story, one day maybe.

 

Labor is cheap, I had a crew of 4-5 guys working (not hard mind you) for about $450 -$500 a week. Paid for the house as you go down there, I have no mortgage. Acapulco is 6 hours away and Veracruz is about 5 hours the other way.

Yeah, yeah all the stories you hear about the violence are exaggerated and only at the border towns – well I haven’t seen anything (knock on wood).

 

To Blotsky:


Is that your name? Well it is my name too and people know I come here to ZH. Gives me the creeps that you are using my name and I don't like it. Is it possible that you could change it? It would be greatly appreciated, thanks in advance. TaintBoil at G mail dot com.

 

 

Tue, 07/26/2011 - 15:53 | 1495671 sun tzu
sun tzu's picture

Check out the murder rates of El Paso and Ciudad Juarez, right across the border from each other. 

Tue, 07/26/2011 - 15:51 | 1495665 European American
European American's picture

I would think that if enough people simply stopped paying taxes, we might witness change we can believe in. I wonder how many here at ZH opted out of that annual, fear motivated tradition and I wonder how many monkeys it would take for the wheels to stop turning. I bailed out years ago with no ill effects. Couldn't imagine giving my hard earned dollars to a corrupt system. Seemed logical and rational at the time. 

Tue, 07/26/2011 - 23:05 | 1496747 BigJim
BigJim's picture

So, how are you finding federal prison time?

Tue, 07/26/2011 - 13:06 | 1494967 hedgeless_horseman
hedgeless_horseman's picture

Remember what the dormouse said.  Keep your head!

'My wife was among those killed, as well as two sisters, three lawyers and several local journalists. They were all beheaded,' he said yesterday. 
 

http://www.dailymail.co.uk/news/article-1230225/Philippines-massacre-State-emergency-declared-24-supporters-political-opponent-murdered.html

Tue, 07/26/2011 - 13:09 | 1494991 Fred C Dobbs
Fred C Dobbs's picture

That was in western Mindanao in 2009. 

Tue, 07/26/2011 - 13:11 | 1495006 hedgeless_horseman
hedgeless_horseman's picture

And they are still dead? 

So much for transitory Islamic militants.

Tue, 07/26/2011 - 13:54 | 1495168 Fred C Dobbs
Fred C Dobbs's picture

I've been to Mindanao twice and I am still alive.  I know several other people that weren't murdered too.  And if I am correct the people killed in that post were all Filipinos and it was over local politics. 

Tue, 07/26/2011 - 13:55 | 1495172 Fred C Dobbs
Fred C Dobbs's picture

Be afraid and stay home. 

Tue, 07/26/2011 - 15:04 | 1495447 TheMerryPrankster
TheMerryPrankster's picture

I hope to  retire to  a cave with a nice pure underground aquifier and a little shack on the surface. Low low taxes and year round air condtioning. sometimes it is best to shelter in place, the devil you know and all that.

Why go looking for trouble half a world a way when i can certainly let it find me without having to lift a finger?

 

Wed, 07/27/2011 - 02:31 | 1496981 Baptiste Say
Baptiste Say's picture

You want to see sheer tyranny from law enforecement look no further:

 

(FALSE WARRANT) Columbia Mo SWAT Raid 2/11/2010. Cops Shoot Pets With Children Present

http://www.youtube.com/watch?v=RbwSwvUaRqc

 

Tucson SWAT Shot U.S. Marine Over 60 Times in Front of Family (20 SECONDS AFTER THEY KNOCK ON THE DOOR)

http://www.youtube.com/watch?v=UkOXjOCkQfM

 

SWAT team shoots dead a man who confronted them with a golf club

http://www.youtube.com/watch?v=WV6Bq8xeQrU

 

 

I could post dozens of videos like this but it makes me feel sick to the stomach to see people murdered in their own homes, I will post a map that shows the prevalence of these botched SWAT raids though, thousands per years:

http://www.cato.org/raidmap/

 

Let us also remember there is 2,245,000 prisoners in the USA, even as far back as 1999 1,000,000 of these were non violent 'offenders'.

http://www.reuters.com/article/2007/06/27/us-usa-crime-prisoners-idUSN26...

http://www.hawaii.edu/hivandaids/America_s_One_Million_Nonviolent_Prison...

 

If you're worried about being locked up in poor conditions have no fear in the Philippines, hell you can probably bribe your way out of even serious crime there. Living in the USA is where you've gotta have fear.

Tue, 07/26/2011 - 13:05 | 1494978 Azannoth
Azannoth's picture

I think they did away with the 10 year wait, try to reasearch this again, ofc you'll wait a good few years for all the paperwork anyway

Tue, 07/26/2011 - 13:12 | 1495009 fishface
fishface's picture

Update:  Why is this getting junked?  It's completely true.

 

 

bbbut it sounds so unbelievable

 

 

Tue, 07/26/2011 - 13:19 | 1495037 Things that go bump
Things that go bump's picture

If you work for an American company, I suppose they take deductions from your paycheck.  Otherwise, why do you pay?  How is this enforced?  Are they threatening to take away your birthday or something?  Do they hold your firstborn hostage?  Are they going to throw your aged parents in the gulag?  

Tue, 07/26/2011 - 13:37 | 1495114 FeralSerf
FeralSerf's picture

They send you a bill. If you don't pay, it's reflected in your credit rating.   If you have any assets left in the US they take them.  They might hassle you if you change planes in the US.  I doubt they collect 100 cents on the dollar on these debts.

Tue, 07/26/2011 - 14:03 | 1495209 Popo
Popo's picture

It actually depends on where and how you work.

If you do business internationally, or with US companies -- as most expats still do, btw despite living abroad -- the companies you invoice will declare their payments to you to the IRS.  Then, you're on the hook. 

Likewise, many countries share tax information now.  The days of anonymity while living abroad are drawing to an end.

And -- All US citizens have to file every year.  If you don't, you're inviting an audit.  

And of course -- that carries with it the threats of fines and imprisonment.

So... no they don't take your first born son.  But they do take a pound of flesh.

Tue, 07/26/2011 - 14:00 | 1495192 Popo
Popo's picture

Well.. there's the threat of imprisonment.

Tue, 07/26/2011 - 14:18 | 1495265 Abitdodgie
Abitdodgie's picture

I don't agree with you on the fact that you have to pay taxes , because taxes are volentery , I live in Amerika and i pay no taxes ,property, federal, state etc all you have to do is challenge them and be a Sovereign , not a 14 amendment or federal citizen

Tue, 07/26/2011 - 15:21 | 1495540 laomei
laomei's picture

Here's a fun way to do it.. for example... China.  

Marry a local, have clients wire directly to her account if you want... even better yet setup a local company in, say, Hong Kong (also not in your name).  Money comes in (probably not taxable where you live) and not in your name as far as the IRS knows, HK doesnt tax it, and China doesn't tax it either. IRS doesnt know shit unless you are dumb enough to tell them about your proxy account.  Pass just enough through the us to avoid any questions.  Another fun fact is that non-resident aliens do not have to pay taxes on us markets as long as they provide a wben-8.  At least over here in China, there are no capital gains taxes for individuals, period.

 

The IRS knows about around 40k a year of my stuff and personal income taxes here are really not all that bad.  I'm married, house, wife, nice car... nothing all that crazy.  Some local investments which cover all monthly living expenses which means 100% of everything I earn goes into the bank.  No property taxes or other bullshit either.  As far as China cares, what I am doing is 100% legal, and as that is where I live that's all that matters.  Enjoy your depression i guess... the smart ones jumped ship years ago.

Tue, 07/26/2011 - 16:13 | 1495753 malikai
malikai's picture

Hear Hear.

Wed, 07/27/2011 - 06:17 | 1497059 Tsukato
Tsukato's picture

Hey Laomei?Hows it going. I agree 100%! Why people worry so much about the big, bad feds, is beyond me. AND, I 2nd the "enjoy your depression" bit too, but throw in FUCKTARDS to boot. Have a nice day.

PS. ur not in CQ are you? Sorry I couldnt get u a QQ. I'll dig one up soon.

Tue, 07/26/2011 - 18:40 | 1496151 Doña K
Doña K's picture

For Popo.

If you are 330 days outside the US and your income is derived from working overseas, the first $85K are deductible. Unless you have investments in the US, you would have to pay little or nothing. Also the IRS and the Homeland security do not criss cross the in and out of country dates. hint!

Trading co's do not report gains on US citizens with foreign address. You could be living in Kalamazoo and be controling companies and accounts in other countries and have several foreign addresses with forwarding mail to a box in OshKosh

There are 1000 way to not have to pay taxes. If you pay enough taxes you will figure how.

I am just saying. But for the good of Obama and the country, you should pay your fare share.

Wed, 07/27/2011 - 02:09 | 1496969 Baptiste Say
Baptiste Say's picture

I live in Asia,  and I still have to pay US taxes

 

Why do you pay them? No country other than USA demands non resident citizens and <10 years non citizens pay taxes on foreign derived income, hence no country will extradite you for not paying the IRS.

 

In that case how are they going to make you pay?

 

  • With the threat of abduction, extradition and imprisonment? Well if that's your concern then you can just shoot them with your weapon which is easily available and legal in a place like the Philippines.
  • With threat of imprisonment when you voluntarily return to the USA? If that's your concern then don't return, it's not like USA markets and opportunities are going anywhere other than to hell and you'd be better off bring your family OUT of that shithole.

 

It's funny, you yanks cite your 2nd amendment and think you're so safe from oppresion but even when you're an ocean away from the long arm of the law you're still too afraid to stand up against unjust laws or against looters.

 

After reading your pathetic ode to and acceptance of serfdom I feel this is a fitting quote to post, courtesy of our very own (member) wanklord:

Americans are a bunch of stupid animals easy to manipulate and subdue. These mules clearly fit in one of Leo Strauss'(*) categories of society: the Vulgar Many

"The vulgar many, are lovers of wealth and pleasure. They are selfish, slothful, and indolent. They can be inspired to rise above their brutish existence only by fear of impending death or catastrophe."

The sooner the US economy collapses, the better, so these brutes will finally learn NOT to live beyond their means.

* German Philosopher (1899-1973)

Tue, 07/26/2011 - 12:53 | 1494932 fuu
fuu's picture

Too close to Fukushima for my tastes.

Tue, 07/26/2011 - 13:02 | 1494963 redpill
redpill's picture

2500 miles?

Tue, 07/26/2011 - 13:35 | 1495106 fuu
fuu's picture

Yes. Too close.

Tue, 07/26/2011 - 13:06 | 1494984 Cole Younger
Cole Younger's picture

PI is close to the southern hemisphere. Unlikely the radiation gets down there. Besides, the jet stream is bringing it all to the U.S. and Canada.

Tue, 07/26/2011 - 13:30 | 1495074 oldman
oldman's picture

duped

 

Tue, 07/26/2011 - 13:29 | 1495077 oldman
oldman's picture

cole,

it's a global event

those lines you see on the climate maps of wind and current are tendencies

its a global party we are having

Tue, 07/26/2011 - 13:36 | 1495108 fuu
fuu's picture

Actually the cloud made a complete loop of the Pacific ocean within the first month.

Tue, 07/26/2011 - 14:09 | 1495235 Smiddywesson
Smiddywesson's picture

Being a superpower, we get first dips on all radiation and debt.

Tue, 07/26/2011 - 13:09 | 1494993 sun tzu
sun tzu's picture

Winds blow in the opposite direction. The US has more to worry

Tue, 07/26/2011 - 15:08 | 1495469 Fukushima Sam
Fukushima Sam's picture

At least don't eat the seafood.  Fuku is still dumping radioactivity into the ocean, and will for some time.

 

http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/07/24/bloomberg137...

 

Tue, 07/26/2011 - 12:53 | 1494934 Ahmeexnal
Ahmeexnal's picture

wages are under $5 a day
but you can live with $10 a day

party like it's 1999, twice above your means

Tue, 07/26/2011 - 12:57 | 1494943 Cognitive Dissonance
Cognitive Dissonance's picture

wages are under $5 a day

That's for unskilled labor. Presumably you are skilled enough to exploit all that local unskilled labor and thus make at least $10 a day doing so.

Tue, 07/26/2011 - 13:05 | 1494974 Ahmeexnal
Ahmeexnal's picture

doesn't take much skill to exploit the locals:

step one: start lending business
step two: start selling *insert any western trendy flashy skanky brand*
step three: take land (which was signed on as collateral for the loans in step one)

hmm....someone beat me to that plan in greece

Tue, 07/26/2011 - 13:41 | 1495121 FeralSerf
FeralSerf's picture

Or step one: open a bank.

Tue, 07/26/2011 - 13:04 | 1494976 SheepDog-One
SheepDog-One's picture

Of course 'skilled labor' there is a good coconut tree climber with a machette gripped in your teeth.

Tue, 07/26/2011 - 13:12 | 1495003 Cognitive Dissonance
Cognitive Dissonance's picture

A little too physcial for my taste.

However, I can lend him his own coconuts at interest. Fractional Reserve coconuts. Yeah, now that's the ticket.

Tue, 07/26/2011 - 15:16 | 1495513 Cathartes Aura
Cathartes Aura's picture

given the many healthy benefits the coconut offers in its simple package, and the agility exhibited by the climbers, it's easy to see why such skills as reading financial charts & clicking computer screens are not as valued in their world.

Tue, 07/26/2011 - 13:46 | 1495129 Rodent Freikorps
Rodent Freikorps's picture

That has to be wrong.

Even back in the 80s, a really cute hooker cost $8/night.

True story: When I got back I claimed the $20 it cost me to bribe an immigration official and the Navy paid it without comment.

Tue, 07/26/2011 - 14:12 | 1495241 Smiddywesson
Smiddywesson's picture

Wages are $5 a day?

So Phillipinos can dig one ounce of silver out of the ground per day?

Count me in.

Tue, 07/26/2011 - 13:25 | 1495065 string
string's picture

Yeah... it is true. Not that it matters now. We've passed the tipping point.

Tue, 07/26/2011 - 13:34 | 1495101 Cognitive Dissonance
Cognitive Dissonance's picture

As in the island will tip over like Guam? Or as in there's no place to put the water because it's all water?

http://washingtonscene.thehill.com/in-the-know/36-news/3169-rep-hank-johnson-guam-could-tip-over-and-capsize

Follow me to dry land.

http://en.wikipedia.org/wiki/Waterworld

Tue, 07/26/2011 - 13:49 | 1495150 Rodent Freikorps
Rodent Freikorps's picture

It really is beautiful, and it has some of the best water to dive in in the entire world.

There are a million worse places to live than the P.I.

Tue, 07/26/2011 - 14:10 | 1495240 Cognitive Dissonance
Cognitive Dissonance's picture

Actually one of my email regulars lives in PI and has been regaling me with stories of the beauty and the cheap.

Tue, 07/26/2011 - 15:19 | 1495530 Taint Boil
Taint Boil's picture

Hank Johnson ??????????? what a moron! Watched the video at 1:20 I am lost for words .................................

Tue, 07/26/2011 - 13:45 | 1495136 midtowng
midtowng's picture

The trick is to learn another language. Every place that is cheap to retire doesn't speak English.

Tue, 07/26/2011 - 13:58 | 1495187 Fred C Dobbs
Fred C Dobbs's picture

You can get along just speaking english in the Philippines.

Tue, 07/26/2011 - 14:47 | 1495357 woolly mammoth
woolly mammoth's picture

Most speak some English and some speak it very well in PI. Their road signs are in English. Lots of noisy chickens and limited privacy though.

 

Tue, 07/26/2011 - 15:23 | 1495532 Cathartes Aura
Cathartes Aura's picture

Every place that is cheap to retire doesn't speak English.

 

that's a rather profound observation, should you chose to ponder it.

Tue, 07/26/2011 - 14:44 | 1495345 Missiondweller
Missiondweller's picture

Yes, they have for over 50,000 years.

Tue, 07/26/2011 - 16:30 | 1495821 turbomango
turbomango's picture

If sea levels are rising but short on water for crops and personal use, I have a few ideas to put to use along with desalination systems. What is wrong with this society? have we all gone bonkers? Can't we SEE THE OBVIOUS ANYMORE?

Tue, 07/26/2011 - 17:45 | 1496035 tip e. canoe
tip e. canoe's picture

"If sea levels are rising but short on water for crops and personal use.   I have a few ideas to put to use along with desalination systems"

and i have some ideas on how to help plants & trees gradually adapt to an increased salt content in the water.

1 + 1 = 3   together we could grow some turbomangoes on the beach.   see how easy that is?

Tue, 07/26/2011 - 17:00 | 1495923 Overflow-admin
Overflow-admin's picture

I don't disagree, but there is nothing supporting any pessimistic thesis about sea level rising.

 

Acceleration in sea level rise?

"Abstract :
Without sea-level acceleration, the 20th-century sea-level trend of 1.7 mm/y would produce a rise of only approximately 0.15 m from 2010 to 2100; therefore, sea-level acceleration is a critical component of projected sea-level rise. To determine this acceleration, we analyze monthly-averaged records for 57 U.S. tide gauges in the Permanent Service for Mean Sea Level (PSMSL) data base that have lengths of 60–156 years. Least-squares quadratic analysis of each of the 57 records are performed to quantify accelerations, and 25 gauge records having data spanning from 1930 to 2010 are analyzed. In both cases we obtain small average sea-level decelerations. To compare these results with worldwide data, we extend the analysis of Douglas (1992) by an additional 25 years and analyze revised data of Church and White (2006) from 1930 to 2007 and also obtain small sea-level decelerations similar to those we obtain from U.S. gauge records.

Conclusion:
Our analyses do not indicate acceleration in sea level in U.S. tide gauge records during the 20th century. Instead, for each time period we consider, the records show small decelerations that are consistent with a number of earlier studies of worldwide-gauge records. The decelerations that we obtain are opposite in sign and one to two orders of magnitude less than the +0.07 to +0.28 mm/y2 accelerations that are required to reach sea levels predicted for 2100 by Vermeer and Rahmstorf (2009), Jevrejeva, Moore, and Grinsted (2010), and Grinsted, Moore, and Jevrejeva (2010). Bindoff et al. (2007) note an increase in worldwide temperature from 1906 to 2005 of 0.74C.
It is essential that investigations continue to address why this worldwide-temperature increase has not produced acceleration of global sea level over the past 100 years, and indeed why global sea level has possibly decelerated for at least the last 80 years.
"

 

Atolls submerged because of rise of sea-level?

"ABSTRACT : Low-lying atoll islands are widely perceived to erode in response to measured and future sea-level rise. Using historical aerial photography and satellite images this study presents the first quantitative analysis of physical changes in 27 atoll islands in the central Pacific over a 19 to 61 yr period. This period of analysis corresponds with instrumental records that show a rate of sea-level rise of 2.0 mm yr?1 in the Pacific. Results show that 86% of islands remained stable (43%) or increased in area (43%) over the timeframe of analysis. Largest decadal rates of increase in island area range between 0.1 to 5.6 ha. Only 14% of study islands exhibited a net reduction in island area. Despite small net changes in area, islands exhibited larger gross changes. This was expressed as changes in the planform configuration and position of islands on reef platforms. Modes of island change included: ocean shoreline displacement toward the lagoon; lagoon shoreline progradation; and, extension of the ends of elongate islands. Collectively these adjustments represent net lagoonward migration of islands in 65% of cases. Results contradict existing paradigms of island response and have significant implications for the consideration of island stability under ongoing sea-level rise in the central Pacific. First, islands are geomorphologically persistent features on atoll reef platforms and can increase in island area despite sea-level change. Second, islands are dynamic landforms that undergo a range of physical adjustments in responses to changing boundary conditions, of which sea level is just one factor. Third, erosion of island shorelines must be reconsidered in the context of physical adjustments of the entire island shoreline as erosion may be balanced by progradation on other sectors of shorelines. Results indicate that the style and magnitude of geomorphic change will vary between islands. Therefore, island nations must place a high priority on resolving the precise styles and rates of change that will occur over the next century and reconsider the implications for adaption."

Here's some food for tought: it's in french, but usually quotes english abstracts and you can usually find the sources. http://www.pensee-unique.fr/oceans.html

I.E. The dynamic response of reef islands to sea-level rise: Evidence from multi-decadal analysis of island change in the Central Pacific, Arthur P. Webb and Paul S. Kench, 2010 http://www.sciencedirect.com/science/article/pii/S0921818110001013

Tue, 07/26/2011 - 23:55 | 1496823 Toma Haja
Toma Haja's picture

What is truly amazing about this article is the number of reads, almost 15,000!  Are ZH readers interested in this subject or what?  I have been a fly on the wall at ZH for years and this article got me to login.  I have been married to a Filipina for 42 years and have made many trips to the RP.  It is a great place - not without its negatives - but we have discussed heading that way; its just ... the kids and grandkids.  Then there's the real estate to dispose of, etc,etc.  Excuses and practicality/reality aside, I highly recommend the Philippines to anyone.  The people are truly wonderful.  The country is beautiful.  It is a shame that the only news of the Philippines we get here is negative (OK the same is true of US news).  Do your research.  Make a visit. 



Tue, 07/26/2011 - 12:50 | 1494918 EscapeKey
EscapeKey's picture

3-2-1 until hot money inflows surge. Buy property now (or be priced out forever)!

Same goes for Turkey, I believe. One of the few places left on earth, where debt levels are nowhere near capacity.

Tue, 07/26/2011 - 12:57 | 1494941 NidStyles
NidStyles's picture

it'll never happen there. The last time a foreign power threatened the Filipino Government in submission the messenger ended up with a 1' square piece of steel cutting his bullet proof limo in half.

 

The message was come and enjoy your visit, but repect our wishes. It's not uncommon for people to turn up dead floating in the Bay over there after they were last seen harassing some people.

Tue, 07/26/2011 - 13:38 | 1495116 Dimeboy
Dimeboy's picture

Isn't Turkey in line to join the EU ?  That should fix those pesky low debt levels.

Tue, 07/26/2011 - 13:57 | 1495183 Rodent Freikorps
Rodent Freikorps's picture

Even though the EU made them open the door to radical Islam, as a move toward greater "democracy", the French will never allow them entry because it would throw the door wide open to muslim immigration to the heart of Europe.

In other words, no, the EU will never allow Turkey entry into the EU.

Tue, 07/26/2011 - 17:48 | 1496041 DosZap
DosZap's picture

Rodent,

Guess you missed the news(over a quite a spell), of nightly riots, and torching of vehicles, overturned vehicles,broken storefont glass, in France,in the Muslim district.

Because there are no  jobs for them, so they run riot.

It's kept off the news damned well.

Austrailia is the smartest Country on the planet...............they make them TOE THEIR LINE, not the other way around.

Tue, 07/26/2011 - 19:15 | 1496259 Rodent Freikorps
Rodent Freikorps's picture

Yeah. They have just enough of them to scare the locals into line.

They are, in fact, keeping them bottled up in the Banlieues.

Tue, 07/26/2011 - 14:01 | 1495197 DosZap
DosZap's picture

EK,

Uhmmmmmmm............Turkey?

Once the SHTF I do not think any religion would be tolerated there except Islam.

Not my Cup O Tea.

Tue, 07/26/2011 - 17:33 | 1496007 vocational tainee
vocational tainee's picture

sorry ,as a foreigner you are not aloud to own property in turkey..

Tue, 07/26/2011 - 13:34 | 1494919 TruthInSunshine
TruthInSunshine's picture

Yes, but that place doesn't have 911 emergency service (which responds in Domino's Pizza delivery times at best, necessitated by high violent and property crime levels), high property taxes, potholes, steel guard rails on the roads (to steal and sell for scrap value), a kleptocracy, Netflix delivery, the Federal Reserve or Wall Street syndicate, so what good is it?

Tue, 07/26/2011 - 12:51 | 1494921 Clueless Economist
Clueless Economist's picture

Steve Liesman vacations there...the local Filipino boys are also quite inexpensive.

Tue, 07/26/2011 - 12:51 | 1494924 nah
nah's picture

phillipeans property top bitchez

Tue, 07/26/2011 - 12:53 | 1494929 HelluvaEngineer
HelluvaEngineer's picture

No way.  I drink way more than 20 beers / day.

Tue, 07/26/2011 - 12:53 | 1494931 Magnix
Magnix's picture

How can I live well in Philippines, with bunch of mobs and thugs!!?

Tue, 07/26/2011 - 12:57 | 1494946 Ahmeexnal
Ahmeexnal's picture

ask a flip and he'll tell you the only thugs in his country are foreigners

Tue, 07/26/2011 - 13:01 | 1494956 InconvenientCou...
InconvenientCounterParty's picture

Gated communities with armed security. That's how. A libertarians dream. No social fabric, so everybody can relish their freedom.

You are looking at the future of the US after cretins have nothing to lose anymore. I can only hope that all the wing-nut ideologues are extinct or have gone to rapture by then. There is nothing on this planet more pitiful than a whiny libertarian.

Tue, 07/26/2011 - 13:05 | 1494977 Clueless Economist
Clueless Economist's picture

SHUT UP PUNK

Tue, 07/26/2011 - 13:17 | 1495016 sun tzu
sun tzu's picture

You should move to Detroit and enjoy the social fabric by taking evening strolls. The delusions of wing-nut socialist retards. Please go extinct yourself and any of your shitlings. You left-wing asswipes have nothing better to do than concern yourselves with how other people live?

Tue, 07/26/2011 - 13:25 | 1495064 Bay of Pigs
Bay of Pigs's picture

Why are you such a douchebag?

Tue, 07/26/2011 - 13:26 | 1495066 Bay of Pigs
Bay of Pigs's picture

dupe

Tue, 07/26/2011 - 13:33 | 1495095 V in PA
V in PA's picture

Who are the cretins in your scenario? Welfare or 99ers.

Tue, 07/26/2011 - 14:00 | 1495194 Fred C Dobbs
Fred C Dobbs's picture

I don't know any foreigners living here in the Philippines in gated communities. 

Why are americans so afraid of things?

Tue, 07/26/2011 - 14:06 | 1495218 Rodent Freikorps
Rodent Freikorps's picture

You do realize you are talking about a population addicted to hand sanitizer, right?

Tue, 07/26/2011 - 15:14 | 1495495 TheMerryPrankster
TheMerryPrankster's picture

I boil my hand sanitizer before I use it just to make sure it is sterile. Howard Hughes was just a man ahead of his time.....

Tue, 07/26/2011 - 14:46 | 1495353 A Nanny Moose
A Nanny Moose's picture

Live in DC for a couple of years to acclimate.

Tue, 07/26/2011 - 15:35 | 1495609 Cathartes Aura
Cathartes Aura's picture

maybe you should consider leaving the "mobs and thugs" at home. . .

Tue, 07/26/2011 - 12:53 | 1494937 NidStyles
NidStyles's picture

My wife is from Bataan. Beautiful country. I enjoy going there at least three times a year. Nothing beats sitting on the beach doing nothing for a week straight.

Tue, 07/26/2011 - 12:59 | 1494953 Clueless Economist
Clueless Economist's picture

Learned in school there was a Death March there.  That was a long time ago, luckily they don't teach such nasty subjects in school these days.  The kids are frightened enough learning about Al Gore's Climate predictions.

Tue, 07/26/2011 - 13:32 | 1495091 MisterMousePotato
MisterMousePotato's picture

If you were paying attention in school, you also would have learned that the Philippinos were not primarily, if at all, responsible.

Tue, 07/26/2011 - 14:10 | 1495239 Rodent Freikorps
Rodent Freikorps's picture

History has been sanitized to protect the Japanese.

I've still never bought a Toyota.

Tue, 07/26/2011 - 14:30 | 1495300 NidStyles
NidStyles's picture

Responsible for what? There were something like 75K Americans, Filipinos, and Chinese involved in that battle and surrender. 

 

You make is sound like the American's did all of the fighting there.

Tue, 08/02/2011 - 05:17 | 1516024 MisterMousePotato
MisterMousePotato's picture

You misunderstood me, I'm afraid.

Tue, 07/26/2011 - 13:00 | 1494955 sabra1
sabra1's picture

congress does nothing for 52 weeks a year!

Tue, 07/26/2011 - 14:25 | 1495283 ElvisDog
ElvisDog's picture

Filipino women have the dumpy gene, similar to Greek and Italian women. They look great when they're young, slim and stylish. But then they hit a certain age (40 or so) and transform into short, dumpy unattractive women. It's mysterious.

Tue, 07/26/2011 - 18:48 | 1496188 Doña K
Doña K's picture

Good excuse for trading in

Tue, 07/26/2011 - 12:58 | 1494947 williambanzai7
williambanzai7's picture

Filipina wives can also be purchased at bargain rates.

Tue, 07/26/2011 - 13:03 | 1494970 A Man without Q...
A Man without Qualities's picture

And the rest of her extended family are thrown in as a free bonus...

Tue, 07/26/2011 - 13:18 | 1495033 sun tzu
sun tzu's picture

No thanks, unless they're hot females

Tue, 07/26/2011 - 13:45 | 1495134 Agent P
Agent P's picture

Your comment contradicts your avatar.

Tue, 07/26/2011 - 14:19 | 1495267 wandstrasse
wandstrasse's picture

priceless. It is a pity that one can hit the up arrow only once.

Tue, 07/26/2011 - 14:12 | 1495245 Rodent Freikorps
Rodent Freikorps's picture

They are worth every penny, dude.

And her family knows how to work. It ain't a bad deal.

Tue, 07/26/2011 - 13:21 | 1495049 Cash_is_Trash
Cash_is_Trash's picture

Which is the toxic debt component of the whole deal!

Tue, 07/26/2011 - 14:01 | 1495199 Fred C Dobbs
Fred C Dobbs's picture

No the relatives will cost you. 

Tue, 07/26/2011 - 13:34 | 1495084 Hansel
Hansel's picture

From what I was told by an expat living in the Philipines, the local women will agressively court any white man from the minute they get off the plane because the stereotype is that they are successful.

Tue, 07/26/2011 - 15:04 | 1495375 toady
toady's picture

I am a white man, I have been there, and I concur.

Tue, 07/26/2011 - 15:37 | 1495616 Stares straight...
Stares straight ahead's picture

You're successful?

Tue, 07/26/2011 - 16:44 | 1495869 toady
toady's picture

I like to think so...

But what is in question her is does SHE think so?

When I was there if you could feed her and provide indoor plumbing, she would consider you successful.

I could, and still can, so I was successful.

I doubt things have changed much over there.

Wed, 07/27/2011 - 00:28 | 1496861 delacroix
delacroix's picture

be prepared, they've developed weaponized pussy.

Tue, 07/26/2011 - 15:41 | 1495634 Cathartes Aura
Cathartes Aura's picture

so it should be rather simple to marry a "local woman" for access to her country, yes?

Tue, 07/26/2011 - 12:58 | 1494949 goldm3mb3r
goldm3mb3r's picture

it sounds idylic until the gang with machetes turns up.

Tue, 07/26/2011 - 13:07 | 1494988 Ahmeexnal
Ahmeexnal's picture

nothing like waking up to the smell of napalm

Tue, 07/26/2011 - 14:49 | 1495367 A Nanny Moose
A Nanny Moose's picture

Charlie don't surf!

Tue, 07/26/2011 - 13:24 | 1495057 Debt-Penitent
Debt-Penitent's picture

Gun laws?  Any?

He thought of turning and running for his life as the gang with machetes approached.

Suddenly, he remembered his Springfield .45 in his waistband.  Oops, the gang's heinous plans were thwarted temporarily.

 

Tue, 07/26/2011 - 13:35 | 1495105 Buckaroo Banzai
Buckaroo Banzai's picture

The Phillipines is not a gun-rights-friendly jurisdiction. Unless you've got political connections, of course.

Tue, 07/26/2011 - 14:15 | 1495256 Rodent Freikorps
Rodent Freikorps's picture

Like Central America, gun laws are for those who don't contribute to the local police chief's retirement fund.

Kind of like the US, actually.

Tue, 07/26/2011 - 14:03 | 1495208 Fred C Dobbs
Fred C Dobbs's picture

In my 11 trips here I have never seen or heard of any gangs with machetes. 

Tue, 07/26/2011 - 14:28 | 1495292 Ahmeexnal
Ahmeexnal's picture

They don't usually hang out at the Manila Ritz Carlton.

Tue, 07/26/2011 - 12:58 | 1494950 krugergate
krugergate's picture

you can live cheap in lots of places in asia - better to live above sea level -

 

Tue, 07/26/2011 - 14:32 | 1495309 V in PA
V in PA's picture

Tell that to the people of New Orleans.

Tue, 07/26/2011 - 13:01 | 1494951 TumblingDice
TumblingDice's picture

WTF man, are you a real estate agent?

The only viable land investment for the long haul is arable land.

If you're buying property to live in your focus should be nearly family and friends, not a bargain in a far away place.

I appreceite all these suggestions on where to spend the next $100k that I don't have but first I'll have to stop buying those Johnnie Walker bottles that I use to drown out the absurdity of these posts into a blur of dancinng words and letters forever mocking me for the lucarative investments I can't make. While not being able to save the money this way at least I can promptly click on the zerohedge logo to bring myself back to the homepage.

Tue, 07/26/2011 - 13:19 | 1495040 sun tzu
sun tzu's picture

People have been living on those islands for thousands of years. I'm sure there's some food around there.

Tue, 07/26/2011 - 13:39 | 1495068 TumblingDice
TumblingDice's picture

I'm sure it's lovely and I can plant a few coconut trees on my dreamy beachfront property while I hang around and get to know the locals at the friendly neighborhood cheers bar, but I'm just not sure how anything in this article is useful information, that's all.

If I had extra coin burning a hole in your pocket and was deciding where to buy up cheap exquisite property, I wouldn't be going to ZH for suggestions. I would be doing my own damn research.

Tue, 07/26/2011 - 14:10 | 1495236 DosZap
DosZap's picture

TD,

From what I have gathered there are only two paces left to where you can get a Passport,and citizenship like NOW.

But, alas,they are quite costly.

Be prepared to drop $300-$400k.Just to apply, and a very strict background check is applicable.

But, their passports allow you acccess to almost all of the EU.

Tue, 07/26/2011 - 14:20 | 1495271 Rodent Freikorps
Rodent Freikorps's picture

Some little nation could make a billion fast by diplomatic passports.

I'd get one.

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