Economic Turmoil and Investing in Panama
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(panama-guide.com) All hell broke loose today in the US economy as the House of Representatives refused to pass a massive bailout bill. By coincidence last night I had a chance to talk to a guy who has been investing here in Panama for a couple of years. He told me that when he instructed his stock broker to sell all of his investments a couple of years ago, and to turn it all into cash because he was going to invest it in real estate in Panama, his broker told him that he was nuts. Today he looks like a genius because his investments have done well (basically doubled in value.) And as the stock markets were going through the floor I received several emails from different investors asking me for advice on methods and manners of moving money overseas in order to invest in real estate in Panama. Ironically, the meltdown of the economy in the US might actually generate some additional investment in Panama as people look for relatively safe alternatives to the US stock market. Gold went above $900 an ounce, for example, a traditional parking space for cash when the stock markets go to crap. Go figure - the law of unintended consequences is always in effect. Are you planning to bail out of the US market to invest your cash overseas? Or, if you saw this mess coming and you made a smart move please write me at don@panama-guide.com and tell me your story. Thanks.
