where do you think the economy will be in a year and a half?

[nageov3t]

random question that popped into my head this morning

I've been thinking about relocating to Hong Kong in August '09 to get a change of scenery, but it probably won't be an option if the dollar keeps tanking like this. as it is, I'd go from paying 1/3 of my salary towards rent to paying 50-60% of my salary towards rent (though to balance it out, it would also eliminate all auto expenses and I may or may not qualify for foreign income tax exemption... gotta talk to one of my CPA friends about that)

 

[dphantom]

Up. Long term I have a lot of confidence the US and world economy will continue to expand. Short term looks fuzzy, especially the next 6 months. ut nothing to panic over unless the commodities markets crash. That is one area I am a bit concerned about where oil, wheat and gold all appear to be price driven by speculators, not actual market forces.

 

[Hayabusa Rider]

The problem is petroleum. I would not be surprised to see $200 a bbl oil, and the US will still not have seriously invested in new forms of energy. I'm not terribly optimistic, because there is no means to put out that fire and apparently no will.

 

[blackangst1]

Originally posted by: loki8481
random question that popped into my head this morning

I've been thinking about relocating to Hong Kong in August '09 to get a change of scenery, but it probably won't be an option if the dollar keeps tanking like this. as it is, I'd go from paying 1/3 of my salary towards rent to paying 50-60% of my salary towards rent (though to balance it out, it would also eliminate all auto expenses and I may or may not qualify for foreign income tax exemption... gotta talk to one of my CPA friends about that)

Would you be paid in US dollars? That would unusual. Even if paid in US dollars, typically you would be paid commensurate with your position, AND with the economy in that country. Ive looked at taking a two year contract in SE Asia at a salary of $1000/mo. But, in the country Im looking at, I could live as though I was making $100k here in the US. It's all reletive

Also, you can live pretty inexpensively in Hong Kong if you look. And no, I dont mean in the slums.

 

[Genx87]

Hopefully bottoming out from a recession.

 

[nageov3t]

Originally posted by: blackangst1

Originally posted by: loki8481
random question that popped into my head this morning

I've been thinking about relocating to Hong Kong in August '09 to get a change of scenery, but it probably won't be an option if the dollar keeps tanking like this. as it is, I'd go from paying 1/3 of my salary towards rent to paying 50-60% of my salary towards rent (though to balance it out, it would also eliminate all auto expenses and I may or may not qualify for foreign income tax exemption... gotta talk to one of my CPA friends about that)

Would you be paid in US dollars? That would unusual. Even if paid in US dollars, typically you would be paid commensurate with your position, AND with the economy in that country. Ive looked at taking a two year contract in SE Asia at a salary of $1000/mo. But, in the country Im looking at, I could live as though I was making $100k here in the US. It's all reletive

Also, you can live pretty inexpensively in Hong Kong if you look. And no, I dont mean in the slums.

I'd imagine they'd just convert my US salary into the equivalent of HKD, which I figured to be about 25,000/month HDK after taxes (though that's after US taxes, not HK taxes... 10-12K seems about average for non-slums without having to live out in NT or one one of the auxiliary islands. not that transportation is bad, but it's all based around getting from X/Y/Z to central, while my office is like 6-7 blocks from the eastern most MTR stop).

if I were to go (and it's a big "if," I haven't even raised the issue with the powers that be), it'd be me asking them to send me, so I wouldn't be in a position to ask for a cost of living raise or anything and there's no really good way to find out what the people who do my job in HK are making.

 

[glugglug]

By the end of 2009, the people there will be complaining about all their jobs being outsourced to the U.S.

 

[techs]

In a year and a half we won't be calling them Hooverviles. We will be calling them Bushvilles.

 

[bsobel]

Originally posted by: loki8481
random question that popped into my head this morning

I've been thinking about relocating to Hong Kong in August '09 to get a change of scenery, but it probably won't be an option if the dollar keeps tanking like this. as it is, I'd go from paying 1/3 of my salary towards rent to paying 50-60% of my salary towards rent (though to balance it out, it would also eliminate all auto expenses and I may or may not qualify for foreign income tax exemption... gotta talk to one of my CPA friends about that)

HKD is tied 8.75 (or so) to the dollar, so you can still match apples to apples. HK isnt a cheap place to live, btw...

 

[Eeezee]

I think we'll see a lot fewer on ATOT after the repo men take their computers and shut off the electricity

 

[blackangst1]

Originally posted by: loki8481

Originally posted by: blackangst1

Originally posted by: loki8481
random question that popped into my head this morning

I've been thinking about relocating to Hong Kong in August '09 to get a change of scenery, but it probably won't be an option if the dollar keeps tanking like this. as it is, I'd go from paying 1/3 of my salary towards rent to paying 50-60% of my salary towards rent (though to balance it out, it would also eliminate all auto expenses and I may or may not qualify for foreign income tax exemption... gotta talk to one of my CPA friends about that)

Would you be paid in US dollars? That would unusual. Even if paid in US dollars, typically you would be paid commensurate with your position, AND with the economy in that country. Ive looked at taking a two year contract in SE Asia at a salary of $1000/mo. But, in the country Im looking at, I could live as though I was making $100k here in the US. It's all reletive

Also, you can live pretty inexpensively in Hong Kong if you look. And no, I dont mean in the slums.

I'd imagine they'd just convert my US salary into the equivalent of HKD, which I figured to be about 25,000/month HDK after taxes (though that's after US taxes, not HK taxes... 10-12K seems about average for non-slums without having to live out in NT or one one of the auxiliary islands. not that transportation is bad, but it's all based around getting from X/Y/Z to central, while my office is like 6-7 blocks from the eastern most MTR stop).

if I were to go (and it's a big "if," I haven't even raised the issue with the powers that be), it'd be me asking them to send me, so I wouldn't be in a position to ask for a cost of living raise or anything and there's no really good way to find out what the people who do my job in HK are making.

It's not that simple. For example, my job in San Franciso pays $170k/yr, while in Oklahoma it pays $60k/yr. Im in the middle, but its also comensurate with similar positions in the area.

If youre looking for overseas opportunities (which I half heartedly am) you should look at Dubai. It's one of the fastest growing tech areas in the world, and all the businesses as well as employee housing is in whats called The Green Zone...which is tax free. No income tax, no sales tax, nothing. And it pays WELL.

 

[JTsyo]

Originally posted by: Hayabusa Rider
The problem is petroleum. I would not be surprised to see $200 a bbl oil, and the US will still not have seriously invested in new forms of energy. I'm not terribly optimistic, because there is no means to put out that fire and apparently no will.

I've seen reports that oil should be under $80 but since the stock market is doing bad a lot of money is moving towards oil and other commodities. They say don't be surprised if the bubble crashes.

 

[techs]

Originally posted by: Eeezee
I think we'll see a lot fewer on ATOT after the repo men take their computers and shut off the electricity

Who says recessions are all bad?