Markit

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What will this mean for Bali?

Usually takes quite a while to work through the system but I've noticed prices for commodities rising fairly quickly over the last year so maybe the rate rise is already calculated into the economy?

The Indo Finance Ministry has been buying dollars like crazy over that same year to keep the Rupiah below 14k so they can't have too many left under the bed, I'm thinking...

Chinese curse anyone "living in interesting times"?
 

tel522

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Oct 30, 2015
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I agree with you re currency reserves here, as a large % is held by traders it could move out quickly , I think 15k is a reasonable short term reality, further to this the fed has already suggested a series of steps to increase further in 2016.
I am of the opinion asia led by china is on the brink of a major recession so at some point next year who knows we could see 20k to the usd .
 

Markit

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I am of the opinion asia led by china is on the brink of a major recession so at some point next year who knows we could see 20k to the usd .

How could any country go into recession, even China with a 5% year on year growth rate? Even poor little Indonesia has that. The only fly in the ointment is that its "down" from 6-7% a figure the rest of the world would give free blow jobs to have.
 

tel522

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I wonder if we can believe china ? how much of the truth do we hear from that country , I seem to remember when the soviet union crashed it came as a surprise !
 

Markit

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I wonder if we can believe china ? how much of the truth do we hear from that country , I seem to remember when the soviet union crashed it came as a surprise !

I'm really not being needlessly contentious but "surprise" in the same sentence with "soviet union crashed" is not something I've ever heard.

Do you remember Gorbachev, one of the few intelligent men there, being thrown out for the clown Yeltsin , who danced a drunken jig on international TV? Where the mafia was basically running the show and couldn't keep up with the shipments of cash leaving the country. Then to top it all off drunkard Yeltsin is thrown out by some indistinct little FSB wonk called Putin. The country in ruins, bankrupt and with alcoholism in a country of drunks at all time highs.

"Surprise", I think not.
 

tel522

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I was speaking about the gorbachev period , ya a bright and strong guy , who had the guts to realize the ussr could not financially compete anymore on the weapons front , hence the breakup, with my limited working experience in china I find truth a rare thing in business , I see fear of the party , and the fact that the government ie dictatorship , like to control all information . so thats why I wonder about the financial reality
 

Nydave

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To me the fly in the ointment is if you believe anything the Chinese Government says then I'm afraid you will need more than ointment to heal you,
 

odez999

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I agree with you re currency reserves here, as a large % is held by traders it could move out quickly , I think 15k is a reasonable short term reality, further to this the fed has already suggested a series of steps to increase further in 2016.
I am of the opinion asia led by china is on the brink of a major recession so at some point next year who knows we could see 20k to the usd .

Soo .. is it smart to take loan for house from bank at the moment !? Or how that is calculated in this part of the world !? (if we take in consideration that we are forced to rent since we do not owe !!??)

BTW I just returned from Europe .. passing through Berlin .. was in big shoppig mall named Kaufland (same as Carrefour) .. paid Lays Potato Chips at least 40% cheaper than in Indonesia.
I was moving from one airport to another trough city (1 hour ride ) paid like 3 euro.
Everything for everyday life is at least half price and double the quality (at least)
Why the fu*k they consider Indonesia cheap .. !?
When I use that Mandri bus to come to outskirts from Jakarta I pay much more for total crap service ...

And all is getting more and more expensive rapidly.
When I tell people that in Europe you can get this and this for half price and whatnot, they do not believe me.. :( from consumer electronic to milk... insane !
 

tel522

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I think , with the quality of construction here .ie Rubbish ! and the fact that the housing market is falling with many properties unsold , I would wait and see, the maintenance cost must be scary !
 

Markit

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Soo .. is it smart to take loan for house from bank at the moment !? Or how that is calculated in this part of the world !? (if we take in consideration that we are forced to rent since we do not owe !!??) With interest rates likely to rise significantly if you can tie in the loan long term at a good rate it's "money for nuttin"

BTW I just returned from Europe .. passing through Berlin .. was in big shoppig mall named Kaufland (same as Carrefour) .. paid Lays Potato Chips at least 40% cheaper than in Indonesia.
I was moving from one airport to another trough city (1 hour ride ) paid like 3 euro.
Everything for everyday life is at least half price and double the quality (at least)
Why the fu*k they consider Indonesia cheap .. !?
When I use that Mandri bus to come to outskirts from Jakarta I pay much more for total crap service ...

And all is getting more and more expensive rapidly.
When I tell people that in Europe you can get this and this for half price and whatnot, they do not believe me.. :( from consumer electronic to milk... insane !

Wife was just in Germany and says the same thing - Germany is a special case though. Food, particularly at Aldis or Lidl has always made eating there a cheap deal. Booze (well, beer) in southern Germany is actually still taxed as a necessity, as opposed to a luxury item.

Particularly compared to the UK where it's stupid expensive to do basically anything. I used to smile when years ago the UK natives would all rush into Duty Free at Heathrow as they were headed off on their hols. Most of the stuff they bought was cheaper on the economy of where they were going than it was in UK Duty Free.
 

odez999

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I just came back from Europe and they asked me to bring this :

5257f81295d90f9d5983c192e9020f4a.jpg


300g Rice Chocolate (cost around 25 000 IDR)
I need to bring from europe to Indonesia this product, coz in Indonesia seems like non existent. What an Irony.

Just came from local Carrefour, and I must say those prices are extortion upon all chocolate products (and more) .. even for westerners.
And does locals are aware that Barilla pasta or Virgin Olive oil is not same as in EU or Indonesia in many cases even do not have to be same composition as on declaration !!??

And recently I just heard from one local about "organic" hype ! Like they have "organic" store in Bali bla bla ... Are you freaking kidding me !!!??
In Indonesia they can not make sure that you aint eating Borax along other "nutrients" and they want me to beleive that in thair chain of distribution something is pure "organic" .. . whatever that means ...!?

Only ORGANIC hype bull**** was missing in Indonesia to blur the dark water of sanity even more ... EKO and ORGANIC :D

Or how it was written in Kerobokan shop sign: "we produce original antique furniture" ... their "logic" of "things"
 

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Markit

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Sep 3, 2007
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Bali is not (if it ever was) a "cheap" Asian destination. I'm continually shocked by what Oz tourists post and tell about their new "cheap" resto in DPS that charges more for, say Italian food, than the same type would in London or Munich (Munich being waaaay cheaper than London). I live on the economy and cook my own grub (not because I have to but because I love having the time and place to do it the way I like - momentarily into Mexican food - Chimichangas anyone). Seafood is excellent still here - good fresh market fish around 30k/kilo. Beef (tough as shoe leather but tasty if cooked for 3 days) costs around 100k/kilo, chicken breast or leg 35k/kilo and good pork around 65k.