Exchange Rates, Is the Philippines doing that good . . .

[Dogwood_Poet 16]

I remember my first trip to the Philippines the Peso was around 50-55 to the US Dollar. (in 2006) Now the rate is around 40 on the exchange market, which means you only get 39+ for transfers.

Do you think the economy in the Philippines is gaining ground on the world market, or do you think economic woes in the US are to blame?

I know my in-laws out in the provinces haven't seen much gain, but maybe overall things are getting better in the Philippines.

But I also can see the economy is still struggling where I live with plants closing and taking high-dollar jobs with them where I live here in the mid-west.

What's your thoughts on the subject?

[X Factor 1,112]

The US dollar is faltering IMHO

[Benediction 15]

The philippines GDP grew 11% this past year(2011). This was not anticpated, so while the US dollar is growing weaker, the Peso is also growing stronger, so it is a cumulation of both points. I am very excited to see what the expected GDP will be in gains for the 2012 year. A lot of South Eastern Asia are expected to have gains greater than 5% which is a healthy market right now. The US just needs new leadership and governmental figures as status quo is just not working anymore.

[erynaught 43]

It is a combination of both the economy of third-world countries improving and the economy of the US faltering - it has been in decline for years, kinda surprised you hadn't noticed it. The number of foreign countries who peg the value of their currency to the USD is declining as well. With high debt, a congress unwilling to make tough choices, a population generally irresponsible with their finances, high cost of labor, dwindling respect in the world view - it shouldn't be a surprise. I don't think the US is going to the dumps, so to speak, but I think there is a leveling of standards and opportunities - and in doing so, some gain and some lose.

[A and T 82]

I think its both, the usa is in a slump and the philippines economy is growing

[I AM NOT THAT GUY 5,715]

You can't borrow $16.5T, then print lots of new money, without devaluing the dollar.

http://www.usdebtclock.org/

[JoBri 548]

Yup...

You can't borrow $16.5T, then print lots of new money, without devaluing the dollar.

http://www.usdebtclock.org/