In short, I think Cuenca will overall just get better. Before that, however, start investigating getting your retirement money shifted into bank accounts that are outside the United States. No joke. The U.S. is headed for an economic collapse, and if it happens before 2017, you my lose up to 3/4 or even more of your retirement savings. If you want more details PM me. Ive been researching this for several years, and so many people just don't want to believe it, but its a done deal, the Fed has pushed our debt beyond the point of return, and economic collapse is inevitable.

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123go,

I was going to give a flip answer but I must be tired. I have been living in Cuenca for about 2.5 years....I am on vacation in the north right now but will return to the city of four rivers in the fall. I keep an apartment there.

Its a nice place to live, really. It will be a nice place to live in four years. As for the economy of the USA, the new owners of the country, the Chinese, will keep it going and solvent. They are not going to let all those nice $$ they hold loose value. But...having said that I have to agree, there may be added outflow controls. This amounts to bolting the doors long after the horse has fled...but thats the way USA governments operate. Still, I think it will still be feasible to retire in Ecuador. As to how you prepare for possible restrictions on currency outflow...I don't know. I am not doing anything radical. I am old enough that I don't expect to see the end of the world which is, as always, just around the corner.

Come on down. See you in four years!

sin problemas

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satyarising, what is the charge for your PM answers? Have you considered publishing your invaluable research data? LOL

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Actually ~

Satyarising is one of the folks who don't charge for his PM answers, nor do most of our posters -- Tom doesn't/Hwy1O1 who alos gives a very valid and mature and unbiased straightforward view... and cheshirecat -- and many others

Regrettably these very dedicated posters and responders are not able to respond on the open site because folks like you make thoughtless messages to gain attention ...

Very good justathought ...now you have our attention...very being rude to one of most polite and respected members...begs the question...what you have planned for an encore to this brilliant remark of yours.

And now for the poster:

It is hard to comprehend with the number of people who are moving to Cuenca in particular what the next 3 years will bring. I can only speak for the coast and the last 7 years with the last 5 years with more emphasis since I just passed my 5 year mark and i can say the changes here are inspiring in many ways, disturbing in many others.

What will occur after the Correa administration and his legacy is still to be written.

But on thing our thought'less responder mention bears merit: do a search on Amazon and download some of the better rated of the coming to Ecuador tomes being written -- most are reasonably priced -- try to steer away from those written by the editors of International Living and live and Invest overseas and stay with the mom & pop publications -- they have a better grasp on telling the whole tale.

Then step into your time machine and let us know how much conjecture is correct... I'm curious too!

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Oceanhideway, so, in your opinion, this - "The U.S. is headed for an economic collapse, and if it happens before 2017, you my lose up to 3/4 or even more of your retirement savings" is a thought provoking and totally unbiased statement, questioning which is rude and thoughtless? Alas, so much for moderation :(

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Choosing an expat health insurance provider is an important decision. Get a quote from our trusted expat health insurance partner, CIGNA. With Cigna Global Health Options, you can create an international health insurance plan that's perfectly tailored for the needs of you and your family.

123go,

Since you wrote "If I was close to retirement today, Cuenca would be the first place I'd want to visit based on what I've read.",
why not visit Cuenca now? Then in, say, 2 years down the road. Your predictions will be as good as those who have lived in Cuenca for some time and those who have visited and intend to move there soon. Judged from what the "experts" say in their blogs, Cuenca has grown much more expensive in the last 2-3 years. Many Cuencanos seem to blame it on Gringos and their thoughtless buying/renting/paying without doing any market research. Whatever predictions you may read here at the forum, and elsewhere, and whether they are about Ecuador or the USA should be seriously questioned. A while ago, I read plenty of enthusiasms about the great returns on investments in Cupera bonds. All sounded so good as to doubt whether it could be true. Well, Coopera just went under. And I would like to hope that not too many Gringos deposited there considerable amounts of money they were saving from the collapse of the USA and our banks, both of which, they say, are just around the corner

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{Oceanhideway, so, in your opinion, this - "The U.S. is headed for an economic collapse, and if it happens before 2017, you my lose up to 3/4 or even more of your retirement savings" is a thought provoking and totally unbiased statement, questioning which is rude and thoughtless?}
=========================

I wonder where satyarising could possibly come up with such a harebrained notion. Perhaps he reads the news?

'There will be riots on streets of America': George Soros predicts class war in U.S. as euro triggers collapse of global economy
http://www.dailymail.co.uk/news/article-2091190/George-Soros-predicts-U-S-riots-insists-Euro-saved-global-economy-collapse.html

Perot: U.S. risks being "taken over" if we don't fix economy
http://www.cbsnews.com/8301-250_162-57523781/perot-u.s-risks-being-taken-over-if-we-dont-fix-economy/

How America will collapse (by 2025)
http://www.salon.com/2010/12/06/america_collapse_2025/

Next Great Depression? MIT study predicting ‘global economic collapse’ by 2030 still on track
http://news.yahoo.com/blogs/sideshow/next-great-depression-mit-researchers-predict-global-economic-190352944.html

U.S. economy on schedule to crash March 2014
America’s fall will take global economies with it
http://www.washingtontimes.com/news/2012/oct/25/us-economy-on-schedule-to-crash-march-2014/

America Heading Towards a Collapse Worse Than 2008 AND Europe
http://finance.yahoo.com/blogs/breakout/america-heading-towards-collapse-worse-2008-europe-says-155504860.html

America in Danger of Collapse?
http://www.forbes.com/sites/prospernow/2012/01/26/america-in-danger-of-collapse/

The coming economic collapse
http://www.foxnews.com/opinion/2012/07/23/coming-economic-collapse/

You can agree or disagree with the above articles. But don't act as if satyarising merely pulled the idea out of his butt.

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BrandonBP,

Save your breath. We're already outnumbered by the Pod People.

It's time to start looking for deals on industrial-sized barrels of vinaigrette.

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Oh, at long last I understand that Fox News and such are counted as reliable sources of economic prognoses. And that pulling out some MIT study, which, like every academic study is bound to have plenty of contradictory hypotheses and evidence, suffices here to predict the end of the world. Well, there have always been and, most probably, always will be those who listen to Fox News and Rush Limbo, and those who read The Economist, The New York Times, and such. And the former group will always allege some conspiracy theory. Nothing to do about it.
Suffice is here to say that the brain size has little to say about the species or individuals intellectual abilities. So, let the biggest brain here win LOL

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123go,

For alternate perspective, anyone trying to precisely predict what will happen 3, 4, 5 years down the road, about anything, best have an awesome crystal ball, or better hope their data extrapolation skills border on excellence. Overall, I am bearish on Cuenca. It is a relatively overpriced city, on a relative basis to other sierra cities with more to offer, such as Quito and to coastal cities, which have historically traded at premiums over sierra cities, on a global basis. I think the heavy promotion of Cuenca as a "nirvana for retirement", mostly pushed by one particular newsletter purveyor, heavily influenced migration into the city. I am not convinced that inward migration trend will continue as congestion, pollution and price spiking continues. I am more prone to see a pull back of the "Cuenca surge" between now and 2017, then to see its continued surge. I will only temper that by saying that local capitalism and a strong, proactive local government administration have partially underpinned Cuenca's current success. Perhaps, united, a public-private initiative will prove my perspective incorrect. I would start by watching the pace and extent of the light rail system currently proposed. It would alleviate horrible traffic congestion and pollution, which would be a step in the right direction towards maintaining Cuenca as a liveable city.


Hector G. Quintana
RDRHGQ@gmail.com
“Without deviation from the norm, progress is not possible.” -- Frank Zappa (Yes...THAT Frank Zappa)

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" I think the heavy promotion of Cuenca as a "nirvana for retirement", mostly pushed by one particular newsletter purveyor, heavily influenced migration into the city."

Right. All those gringos living in Cuenca were so impressionable that they were influenced by a single source to live there. And when they got there and saw that things were just awful, they weren't permitted to leave and some were actually held at gunpoint to prevent their escape to other better places, such as where you sell real estate.

Or maybe it was the boundless cultural activities such as theater, symphony, museums and a vibrant live music scene there, along with superb restaurants (and many of them) that keep them there instead of migrating to one horse towns such as Salinas, which has NONE of the above amenities that might attract gringos.

Nice try, Hector, but that axe you are grinding is apparent for all to see.

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"Oh, at long last I understand that Fox News and such are counted as reliable sources of economic prognoses. And that pulling out some MIT study, which, like every academic study is bound to have plenty of contradictory hypotheses and evidence, suffices here to predict the end of the world. Well, there have always been and, most probably, always will be those who listen to Fox News and Rush Limbo, and those who read The Economist, The New York Times, and such. And the former group will always allege some conspiracy theory. Nothing to do about it."
========================
I sort of sense a bit of sarcasm here, so if I'm misreading you as being forthright, then forgive me.

But if you don't believe the billionaires that made their money from the economy and investments, then who will you believe? Check out what your billionaire investors are doing. In the middle of this huge bull market, Warren Buffett is selling off his portfolio as fast as he can get the buyers.

How can the USA be trillions of dollars in debt and inject hundreds of billions of counterfeited Treasury dollars into the economy every year, yet not suffer a massive crash at some point? What makes the difference between a $1 bill in your pocket and a $100 bill when there is no gold standard? They are both merely green pieces of paper with differing styles of ink printed upon them.

I would absolutely rather not be able to say, "I told you so" in five years when a bag of bread is $200 because the dollar is worthless. I want to be wrong. But I'm not. There is no way in hell we can ever dig our way out of the trllions of dollars of debt our country has. Every American man, woman, and child owes over $46,000 towards the national debt right now. Where will it come from? What happens when the Chinese say, "We can see we'll never get our money back; you guys are cut off." What happens when interest rates go back up and hyperinflation begins?

Stick your heads in the sand and ignore it. Surely it can't happen to the mighty USA. Just because it happened to Argentina, Greece, Brazil, Iceland, Ireland, Japan , Mexico, the Soviet Union, Uruguay, Sweden, and Thailand surely doesn't mean it could ever happen to the dollar, right?

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Omega,

No axe. Time will tell. And please don't underestimate the pull of that little ol´newsletter. They haven't done too badly for themselves. Folks were pulled in by the most "American feeling" locale likely in all Ecuador, but some of that "charm" has already worn off for some, who have left. Also, Cuenca is never going to revert to what it once was, a more tranquil locale to live, if you want to totally abandon reason and financial investment. So, why settle in polluted Cuenca, when for less money you have several quaint neighboring towns, which offer the charm Cuenca used to possess, for less cost, with a healthier lifestyle, all within a 45 minute drive. No, I am afraid I just don't see it. Not from a financial investment perspective and not even from a lifestyle perspective. We´ll see.

Hector G. Quintana
RDRHGQ@gmail.com
“Without deviation from the norm, progress is not possible.” -- Frank Zappa (Yes...THAT Frank Zappa)

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"I want to be wrong. But I'm not"
BrandonBP, it is not possible, logically, to want to be wrong, but to be certain in one's rightness :) I am sorry, but I find this forum very ill suited for discussing economics and politics. If and when I want to learn some subject matter, in depth, I go to trustworthy sources and acknowledged authorities on the subject, and to the forums where such people write. As I mentioned before, our information, and what you and I count as information, come from the sources very different. It is simple - we must agree to disagree :)

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Well then, I would love to know what your "real" sources are since you don't like CBS news, the Washington Post or Forbes for real news. Or even billionaires that made their money from investing in the economy like Soros, Buffett, or Perot.

I know you're extremely more intelligent than any news source or billionaire investor, so please share with me how I can make as much wealth as you. I will give you half of what I earn from your advice, even though you don't need it. Thanks.

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Rudeness is not demonstrated by questioning the post of another, rather in the manner and spirit in which it is done. Some use forums such as this not as a means of sharing information, rather as an outlet for ... Well, fill in the blanks...

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satyarising:

It's no good trying to reason with the 'People of Walmart.' They are too busy trying figure out which credit card to use to get the bigscreen.

http://www.complex.com/tech/2013/02/the-30-funniest-people-of-walmart-photos/18


On the other hand, what do you think these folks know that Bubba just can't figure out?

http://usa.chinadaily.com.cn/china/2013-06/12/content_16611576.htm

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oopsie: trying to figure out

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