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Editorial Note: The mood of foreigners in the country seems to be all over the map currently, due in part to the rain, and even more for the new policies of Immigration.

The office has received increased reports on how Migracion is handling Perpetual Tourists at the borders, but whether this is due to a new position of Migracion, or whether it is a temporary issue, has yet to be seen. Of course there are strong opinions on both sides as to whether the country should be clamping down on these tourists or not, but regardless of the arguments, Migracion will do what they feel is correct.

In any event, whether you are happy about the changes or no, I hope some of the articles herien will lighten your mood, if only for a short while.

- Ryan Piercy

April 20th the CCSS notified us of an increase, effective April 1.

This magazine has been published every two months for 14 years as the official communications media of the ARCR. Our organization provides service to thousands of foreigners who have chosen Costa Rica to reside for short periods or for permanent residence.

Since 1984 the ARCR has been offering reliable SERVICES, INFORMATION and ADVOCACY to Costa Rica’s foreign residents.

We have the experience and ability to help you with your residency application, immigration, business and financial management, real estate purchases and rentals, property management, insurance, pet importation and much more.

If you wish to place an ad in El Residente, please contact the ARCR main office. Goods & services offered are paid advertisments.

Neither ARCR Administracion nor El Residente research the companies and take no responsibility for the quality of such goods or services.

El Residente

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Presidents Re epor t

by The Board

I recently took a short trip to Monteverde and can highly recommend the restaurant “Johnny’s Pizza.” However, not being a great fan of bumpy gravel roads, my next visit will be on a tour bus, or when Nature Air flies there???

Hello ARCR Members,

Transition time is here as we begin the rainy season. I’m sorry to see all the First off, let me make a few corrections / changes beautiful flowering trees fade away, red, to my March/April letter. Regarding the $250 Social orange, violet, etc. What a show there Security recipients were going to receive from Uncle was on Paseo Colon, the road west of Plaza Mayor, and the Sam; we obviously haven’t received it because the current south hills of the Central Valley.

Administration has put that on hold. So much for that benefit!

As far as an emergency kit required to be carried in your car Terry Renfer here, there is still some uncertainty as to the details which, ---------------------------------------hopefully, will be clarified “soon.”

Association of Residents of Costa Rica

On the issue of “why there is a weak dollar/strong colone exchange rate when all other currencies seem weak” I finally received some information from a couple members. I have read many articles by economists and bankers in the local papers, all of whom said the same thing; there are too many dollars. There was, however, no explanation given as to why there are too many. A resident gave me his opinion. “Monex, a government agency established to exchange currencies, was opened to a limited number of members in 2008 and then expanded to anyone and everyone in Oct. 2009. As a result, the amount of dollars currently offered daily far exceeds demand, thus the dollar weakens versus the colone.” Again, the why is not explained nor does it answer the question, where do these dollars come from??? Is it from legal, or illegal, sources???

Another member, who really is not interested in the why but rather how to protect his life style, as his income is in dollars from the U.S., has done this: He has converted his 6 month CD in dollars at 2.5% per year to a 6 months CD in colones at 8.5% per year. If you do the math, even if the colone goes back to 600 colones in 6 months, he is still far ahead.

FIRST FRIDAY LUNCH The first Friday of each month finds a group of ARCR members and staff sharing lunch and good conversation at Hotel Parque del Lago. Beginning around 1:00 PM members gather in the restaurant. You will find it about 1 block North of the ARCR office. All are welcome!

COFFEE HOUR- VARIOUS GROUPS Tuesdays: Curridbat: Mannie & Nuntz at 10:30 AM in the soda. A lot of stock market talk Every Week Day San Jose Downtown: McDonalds and Wendys in the AM Escazu: Bagelmans and Cafe Artista in the AM

MONTHLY NEWCOMERS SEMINAR

Join us on the LAST THURSDAY and FRIDAY of ANY MONTH (except December) to find out more about what it is like to live in Costa Rica, and how to go about getting things done here.

We invite professionals from each field to share their knowledge and expertise with you. Hear what they have to say and ask them the questions you have not found the answer to. Email With the new immigration law in effect March 1st, 2010, we seminar@casacanada.org for more details.

have seen an increase in foreigners joining ARCR. While detailed regulations have been left to the next Administration, it is clear that, in many cases, perpetual tourists reentering Costa Rica are having their Visas limited to less than 90 days. If that applies to you, to become “legal” here, see us at ARCR to explore the various residency programs available.

Additionally, we can help you fulfill your obligation to join the, now compulsory, CAJA, which just went up by the way (p. 8)

HAPPY HOUR The Happy Hour will now be held each month following the Seminar, set to be at Fogo Brasil located in Sabana Este. This is specifically 4 blocks North of the ARCR offices. All are welcome!

Bocas provided for by the ARCR will be available for everyone... (cash bar).

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Cover Shot Hanging high in a tree, Costa Ricans are not afraid of a little height nor hard work when they have to do so, well, when they really really have to do so... (photo by M. E. Walker)

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four productions a year offering a choice of modern, classic, serious, and farcical plays. The group’s monthly social meetings are held in the theatre on the first Monday of the month from 7p.m. to 9 p.m. and everyone is welcome. Membership: Student C2,500, Adult: C5000, Family: C8000. Also, earn your Wings, become an LTG Angel. For more information Call the LTG Box Office 8858-1446 or www.littletheatregroup.org

Alcoholics Anonymous Groups meet daily throughout the country; times and places change frequently. Call for up-to-date information.

San José 2222-1880 (Anchor club, also serves Narcotics Anonymous) Av 6 Calle 1, 2nd floor Maryland Building.

Heredia (Laura) 2267-7466, Puerto Viejo Limon 2750-0080, Zancudo 2776-0012, Tamarindo 2653-0897, Flamingo (Don) 26544902, Manuel Antonio (Jennifer) 2777-1548, Jacó (Nancy) 2637-8824, Zoo Group Escazu 2293-4322.

Al-Anon Meetings Al-Anon Family Group is for all family and friends of Alcoholics. For information in English, please call Martha 2483-1275 or Sandy 2266-1061; For Spanish please call Christine 8840-4658 American Legion Post 10- Escazu Post 10, The oldest and largest American Legion Post in Costa Rica, meets at 12 noon on the first Wednesday of each month at the Bello Horizonte Country Club. For information and map, please call Mel Goldberg at 2288-0454 or 8870-6756, or John Moran at 2232-1680.

American Legion Post 12- Golfito Meetings are held 4 pm 1st Tuesday every month at Banana Bay Marina. The Golfito GOVETS have been helping Southern Costa Rica for over 20 years. Contact Pat at walkergold@yahoo.com or 2775-2809.

American Legion Post 16- Heredia All veterans are welcome. Meetings are the second Tuesday of the month at Hotel America in Heredia at 12 noon.

Contact Post Commander Jim Young or Post Adjutant Ken Johnson at 2591-1695.

Bird Watching Club The Birding Club of Costa Rica sponsors monthly trips to observe local and migrant birds in various areas of the country. For more information contact us at 2282-5365 or at costaricabirding@hotmail.com Canadian Club (ACCR) Come one Come All! Everyone is welcome to our Annual Canada Day Event, coming June 27th to Zamora Estates in Santa Ana. Tickets now on sale at the ARCR (2233-8068) or Out of Bounds (2288-6762) for information visit our website: www.canadianclubcr.com Democrats Abroad Democrats Abroad meets on the last Saturday of every month at the Aurola Holiday Inn, San Jose. Contact Nelleke Bruyn, 2279-3553, e-mail cr.democratsabroad@yahoo.com. Join Democrats Abroad at www.democratsabroad.org. Register to vote absentee at VoteFromAbroad.org!

Little Theatre Group LTG is the oldest continuously running English-language theatre in Central or South America. The group currently puts on a minimum of

May- June, 2010

Newcomer’s Club Newcomers Club of Costa Rica (for women) meets the first Tuesday of every month, September through May. September meeting will be an interest fair. Contact: 2416-1111 costaricaporo @yahoo.com or http://www.newcomersclubofcostarica.com PC Club of Costa Rica This computer Club meets on the third Saturday of each month at Pan American school, in Belen, 830 to 11:30 am 2 months Free Trial for newcomers. For information call Chuck Jennings.

Phone 2266-0123 www.pcclub.net Republican’s Abroad The Republicans Abroad of Costa Rica meets the second Tuesday of each month. Contact Francis 2203-6131, or or fax 2282-2150.

Radio control Sailing Club Meets at Sabana Park Lake. For information contact Walter Bibb.

Wwbbsurf40@yahoo.com Wine Club of Costa Rica Please mark your calendars The wine club usually meets at 1 P.M. on the last Sunday of each month. Join us to tantalize your taste buds and expand your education.

For more information on upcoming events please contact us Phone 2279-8927, 2257-2223 Women’s Club of Costa Rica In 2010 The Women’s Club celebrates 70 years of philanthropy in Costa Rica. Current programs focus on education, primarily through scholarships and development of school libraries for children. It is one of the oldest, continuously operating service organizations in Costa Rica. WCCR membership numbers 250 English-speaking women, representing 25 countries of the world, drawn together by the motto: Friendship through Service. Monthly meetings with guest speakers are held the second Wednesday of each month, as well as regular luncheons, teas, and many interest groups. Guests are welcome and further information can be found at www.wccr.org Women’s International League for Peace and Freedom (open to men too) Bilingual group meets in Heredia on the first Wednesday of the month at 10 a.m. in the clinic of Mireya Gonzalez. We work on peace and human rights issues. Call Mitzi 2433-7078 or write peacewomen@gmail.com Young Expats of Costa Rica Some Expatriates under the age of 40, and currently living in Costa Rica, have formed a new social club to be coordinated through their website This club will help younger expatriates living in, or moving to, Costa Rica meet other expats in their age group for; friendship, romance, travel and activity partners, and professional networking. www.YoungExpatsOfCostaRica.org Veterans of Foreign Wars: Post 11207 Meetings are held at 12 noon, the first Tuesday of every month, at Club Colonial Casino on the second floor. All members are welcome and veterans who served overseas may join. For info please call 2750-0453 or 2228-2313.

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Connection n by the Women’s Club of CR

Change is Good…!

More Changes in Scholarships For 33 years WCCR has provided scholarships to help students complete their schooling. IMAS, the Instituto Mixto de Ayuda Social, has now introduced a broad program to offer scholarships that respond to the needs of high school students in lower income brackets.

WCCR’s scholarship program is, therefore, changing A Revolution in Textbooks direction. A new focus is evolving to support students in our Text books - why is it that you constantly hear of students current high school program, those who are graduating and having to take copious notes and teachers resorting to continuing on into university studies. And, proudly we say making photocopies of text books? that over 90% of those in the program do, in fact, go on to further education.

The simple answer is cost! Publishers market text books in the four basic subjects of Spanish, Mathematics, Social Twenty-eight graduating students were chosen for the Studies and Science at approximately ¢8,000 each, for new University Scholarship program. The students all had a total cost of ¢32,000 per year. For most public school exemplary marks in high school and are from families with students this is an impossible expense. very low incomes, as little as ¢75,000 per month for a family of five.

February marked a revolutionary change for textbooks in Costa Rica for 4th, 5th and 6th grade students. In cooperation The annual scholarship provided to each student ranges with the Ministry of Public Education, La Nación newspaper from $750 to $900, divided over a monthly basis. This began to publish multi-subject text books at a cost of ¢1,200 amount comes from fund-raising activities of the Women’s per book, each one covering approximately three months of Club and donations from outside sources. lessons and doing the same job for a total cost of ¢3,600 per year!

Each of the ten WCCR members on the University Scholarship Committee acts as godmother, or ‘madrina’, Already WCCR had its “Reading is Fun!” program in place for two to six students. They become knowledgeable about to provide furniture for libraries and books for leisure reading the students’ lives and also give advice about application in public elementary schools. Why not try a mini-fundraiser for other scholarships that might cover the matriculation to cover the cost of La Nación’s new textbooks for the 29 and course fees, some even cover housing and food. But, children in the 4th-grade class of a local Heredia school? this still leaves a lot of expenses that WCCR scholarships can help to fund: transportation, books, photocopies, lab The response to an email sent to members and a few friends materials, and more. in the Heredia area was unbelievable! One and a half hours later, the 4th grade class was completely supplied and we Profile of a WCCR University Scholarship Student were starting on the 5th grade books. In less than 24 hours, Michael lives in Guápiles and started classes in Criminology we were already collecting for the 6th grade! in February. His fees are about ¢150,000 per ‘cuatrimestre’.

Michael lives with his mother and two younger Everyone responded so positively, many sisters. From an ex-husband’s pension and her donating enough for several sets of textbooks. A ironing business, his mother’s income is around couple of young teens even put an article in their ¢80,000 per month.

Blog to spark interest back home in the U.S. The school targeted for this little test program was Escuela San Vicente in Santo Domingo de Heredia. The amount raised through donations to early April was approximately ¢576,000. In the end, we were able to donate textbooks for three additional schools and only stopped when the textbooks were sold out and no longer available.

Although he applied for a scholarship at the university, they do not award them for technical careers. That’s where WCCR comes in.

Michael is going to graduate next year, intending then to work to save money to pay for his second career - medicine! WCCR is proud to assist Michael in reaching his dreams.

For more information about the library or scholarship programs We thank La Nación for their foresight and await their next and the Women’s Club of Costa Rica: www.wccr.org publication date…!

May- June, 2010

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Immigration n Update

by Ryan Piercy PT- More on the Perpetual Tourist

caused a lot of problems, not only with extra cost involved having to appear there in person, but also due to lost or misdirected applications (somewhere between the Consul, the Courier, and Migracion). Fortunately these issues are able to be corrected by submitting copies of the application and proof of submission.

The new law however has apparently removed this possibility, and now mentions that submission at a consulate or embassy may not convey any rights to the applicant… hence, if they lose your file, tough luck and go start all over again.

Submitting the application here may levy a hefty fee, at $200 per person for ‘change of status’ from a tourist to a residency applicant… however on one hand you will save the cost of the courier to send documents from the consulate, and more importantly it just might save you thousands of dollars in lost documentation.

As we discussed in the last issue, extensions of the Tourist visa are possible, but as the law came into effect, it was made clear that these extensions are only available to those with Less than 90 day visas, in other words those who receive 30 day visas. This is in fact how it was specified in the law, so it is unclear why various news reports had indicated that the extensions would be available to those with 90 day visas.

Unfortunately they are not.

So in the end, it is possibly true that up to 2 extensions can be applied for, giving a maximum total stay of 90 days to those originating from countries with visa restrictions. The cost will be $100 for the application, and proof of financial capacity will also be required.

On a further point, the new law calls for a $100 fine for every month that a tourist overstays their visa. Some sources have stated that this fine is not yet in effect, and it may take up to 6 months more for the mechanisms to be in place, but as nobody seems certain when it may start, it is advisable to expect it to begin at any time.

Residency Applications Under the new law applicants are fortunate that once again the submission of their file can be made directly at Migracion in Costa Rica (for a fee), or of course still through the embassy. The ARCR however must recommend submitting the application here.

It has been clear over the past few years that having to submit at the Embassy or Consul in your home country has

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May- June, 2010

9

Legal Updatte

by Allan Garro N.

CAUTION! New Traffic Law In Force.

On March 1st 2010 a new Traffic Law took effect, this time with severe fines for even small infractions. Before that date, the existing law had a maximum fine equivalent to 20.000 colons (approx US $38) but now fines have penalties as high as 293.000 colons (approx US $563). For a poor country like Costa Rica, such fines could be considered excessive, but they are being applied right now.

the blood alcohol level exceeds 0.75 g/l the driver will be arrested. d. Driving at a speed higher than 120 kph - 75 mph - is considered reckless driving, punishable with the highest fine, and if speed exceeds 150 kph - 93 mph - driver will be arrested. e. Drivers with foreign driver’s licenses can legally drive in the country as long as they can prove they have been in Costa Rica for less than 3 months, otherwise a ticket will be issued, f. Talking on a cell phone while driving is forbidden at all times, except with a hands free device.

You must pay at a bank, and there is an additional donation of 30% due for PANI (Children’s Protection Institute), so if you receive a 293,000 colon ticket you will pay 381,000 colons (approx US $732). If payment is not made within 8 days, 3% monthly interest will be applied.

About two years ago the media started pressuring the Costa The list of fines is huge, but here are some of the more Rican Congress because of the increasing number of car common ones: accidents linked with speeding and drunk driving. Soon a new amendment to the Criminal Code was proposed with jail Fines of 293,000 colons (approx US $563) sentences for drivers caught exceeding 150 kph - 93 mph • Drunk driving - or with a blood alcohol level higher than 0.75 g/l. Some • Speeding at more than 120 kph - 75 mph physicians estimate that to be around 3-4 beers, depending • Driving without a driver’s license on the person’s height and weight. Other Congressmen then • Carrying infants without a baby seat decided to propose changes to the rest of articles in the law • Carrying children under 12 years old without a and soon an entire new set of rules was created. “booster” seat In addition to the criminal penalties mentioned, vehicles must Fines of 220,000 colons (approx us $423) now have: • Driving while talking on a cell phone without a hands free device • A fire extinguisher • Driving without a seat belt • 2 warning triangles • Driving without current car documents • 1 safety vest green, orange or red in color • Ignoring a red light • Jumper cables • A basic kit tool Fines of 147,000 colons (approx US • A baby seat for infants and a $282). “booster” seat for children under • Driving without having warning the age of 12. triangles in the car • Clear front and rear windows • Driving without license plates only side windows can be tinted • Driving without a current Technical and visibility must be 70% of clear Inspection (RTV) glass • Littering Other important regulations are: a. In urban areas the maximum allowable speed is 40 kph - 25 mph - or 60 kph - 38 mph - if traffic is light, b. On highways the maximum speed will be displayed on signs. The posted speed can be exceeded by 10 kph if traffic is light. c. Drunk driving with a blood alcohol level exceeding 0.5 g/l – approx 2 beers- will be considered reckless driving, punishable with the highest fine. If

El Residente

Fines of 117,000 colons (approx US $225) • Driving with tinted front or rear windows • Driving with side windows tinted beyond 30% • Parking in a restricted area Continued on page 11...

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Fines of 88,000 colons (approx US $170) • Driving with an expired driver’s license • Driving with a foreign driver’s license after staying more than 3 months in the country Fine of 29,000 colons • Entering San Jose on a day prohibited by the last number of the license plate To make things even more severe, Congress included the Points System created by Spain into the new Costa Rican Traffic Law. All drivers in Costa Rica start with 50 points on their licenses, and when a ticket is issued, points are subtracted in addition to the fine. If all points are used the driver’s license is suspended for a period of 2 years, and the driver must take a driver’s education course approved

by Government.

Driving without a seat belt Driving without warning triangles Driving without license plates Exceeding the permitted number of passengers Driving with an expired license

20 points 15 points 15 points 10 points 5 points

What can be done if a driver wants to dispute a traffic ticket?

Formerly the dispute was presented to the local Traffic Court, and drivers had the right to appeal decisions to the Criminal Court. However, the new law created an administrative department called UNIDAD DE IMPUGNACIÓN DE BOLETAS – Ticket Dispute Unit - that is actually part of the same organization as the Traffic Police. Their decision is final. This could violate the Constitutional right to an appeal, but for the moment the system is in place.

Here are some examples of the points subtracted in addition After the law went into effect, Congressmen realized it was to fines: too severe and expensive. As you read this, a package of amendments is under discussion to eliminate the point Drunk driving 50 points system and lower the fines. For the moment, the best Speeding at more than 120 kph - 75 mph 50 points advice is to buy the new set of gadgets required and to be as cautious as possible on the road.

Carrying infants without a baby seat 50 points Ignore stop signs 25 points Allan Garro N., Attorney at Law Talking on a Cell phone without hands 20 points law@licgarro.com free device

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Learning The Languag ge

by Christopher Howard

Real Estate Terms continued...

When dealing with Real estate, purchasing, and financing, the list of vocabulary and terms is extensive. Here we continue to add to your list of Real Estate words to help you continue to build your own vocabulary in relation to property purchases and ownership.

Amortization: Amortización Annotation: Anotación Appraisal: Avalúo, tasación Appraiser: Valuador Appreciation: Plusvalía or apreciación Architecture: Arquitectura Assignment: transferencia Auction: Remate or subasta Bank: Banco Borrower: Prestatario Boundaries: Límites Broker: Corredor Building Pemit: Permiso de Construcción Cadastral Map: Mapa Catastral Depreciation: Depreciación Certificate of Title: Certificado de Título Document Summaries: Diarios Client: Cliente Due date: Fecha Límite

Closing: Closing Costs: Closing in Escrow: Collateral: Commission: Contract: Convey: Corporation: Counteroffer: Credit Rating: Declared value: Deed of Transfer: Deposit:

Cierre Costos de Cierre Cierre Depósitario Garantía Honorarios Contrato Traspasar Corporación Contraoferta Historial crediticio El valor declarado Escritura Depósito, Prima

Here is your Costa Rican expression (tiquismo) for this week: “El que no quiere bultos, no salga a la calle.” – if you don’t want baggage (trouble) don’t leave your house.

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May- June, 2010

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A Day In Th he Life

of them quite rang 100% true. What I finally decided was that what I was feeling internally wasn’t as much a pull to be somewhere else as it was a push to leave where I was.

Regardless of the reason why, the pressure to do something was like a persistent itch I needed to scratch. So, I sold my house and disposed of everything I had accumulated over my lifetime. I rid myself of things that went back to my earliest How I Got Here childhood memories -- some went on ebay, others to garage sales, gifts, charities, or trash. In the end I was left with little In the January/February 2010 issue of _El Residente_, the more than two large suitcases mostly filled with clothes, my Editor asked for contributions from members who would like laptop, and an itch. And I moved to Costa Rica. to tell their stories of “How I Got Here” (to Costa Rica.) “I can do that” I thought -- a simple little tale of paths more (or less) Immediately upon arriving here I realized the feeling of being traveled as I came to settle here, and I sat down to write. Like pushed was gone. It wasn’t like I had come ‘home’ after a usual, however, one thought led to another and somehow long time, nor was it that I had been drawn to live here. No, along the way the story morphed into something else -- less it was totally different -- it was more like I had left a place HOW I got here and more WHY I got here. where I was no longer comfortable. And, although my life

by Allen Dickinson

Never one to let my ruminations go to waste; I am, in the words of Rod Serling of Twilight Zone fame, submitting this for your approval. Maybe some will find it interesting, possibly even applicable to themselves. Others... well, what can I say, except . . . it’s my story and I’m sticking to it.

A while back, at age 63, I chose to leave my native country and resettle in Costa Rica. I decided to make the move for many reasons, chief among them was that I felt an internal need, a push, to change my life circumstances -- and the only satisfactory way I could find to do that was to go live somewhere different.

Though I didn’t know exactly why I sensed this need to be somewhere else, I felt it very strongly. I tried to target it to my discontent with the current state of US politics, or to my dissatisfaction with the general evolution of the American consumption-obsessed society, or other things -- like the way the country as become nation of small groups, each with an agenda that includes the suppression (and preferably the elimination) of all members of any opposing group. Even though those things were points of concern for me, none

was totally rearranged and extremely different, I found I was much happier than I had been before I moved. The itch had been scratched and I felt a sense of satisfaction with what I had done.

Oh, from time-to-time there were other feelings that would come to forefront. Like the one that I was a stranger in a strange land. Or the times that I was scared by what I had done. And at other times there was a sense of curiosity about my adventure and a feeling of excitement over what lies ahead. And sometimes I simply felt I was just downright bizarre. It was during those last times that I wondered to myself; was I weird, even though I was feeling happy and content?

But overlying it all was one larger question: I didn’t understand why I had experienced that compelling urge to move in the first place. To try and find some answers, I began to examine the origins of my compulsion in hopes I would discover what it was within me that drove me to make such a drastic lifestyle change.

Here’s the answers and conclusions I have found for myself.

I’m sure these may differ from those of other persons who have done the same thing, but they satisfy me.

I began my search by talking to others who had moved to Costa Rica. I thought that if I could learn why they had foregone all that was familiar and comfortable in their lives, and chose to relocate lock, stock, and computer to such a different place, then maybe I could understand my own motivations.

And, after discussing the different reasons many other persons gave me, I realized that there seems to have been a lot more driving us than I had ever guessed. Perhaps more importantly, I discovered that there were a lot more questions raised than there were answered.

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It didn’t take much talking to people before I learned that (at least among those I spoke with) there was no single reason why they had relocated their lives. There was a group of broad, general reasons they made the decision to move away from their historic homelands (or, it may be more accurate to say, to leave them behind). The responses ranged as widely as the people I spoke with. Typical motivations included that some were looking for a slower, more relaxed life style, others said they had the desire to live in or near the isolation of nature. Still others said they came for the mild weather, some cited that they liked the greater value placed on family in this culture. And, of course, a significant number said that they moved here so they could make their money go farther.

Some answers were a mix of all the above and more, but there was no one overriding response.

I was, however, surprised to discover that among the many of those I talked with there seemed to be one trait that appeared to run fairly consistently through us all: that was, most of we “permanent residents / perpetual tourists / etc.” (or, as we like to call ourselves in general, expats) seemed to fall into a type -- we are a group largely comprised of what might be termed back home as mavericks. Adventurers. The best way I can explain it is that we almost all seem to have some long standing, deep-seated inner drive that caused us to often be unsatisfied with the status quo. Many of us have spent much of our lives seeking something better, even in the most mundane of matters. And, among we expats, there seems to run a strong sense of individualism that, from time-

to-time, craves some form of adventure as a way of searching for whatever it is we are seeking within ourselves.

By adventure I don’t mean hunting Bigfoot on weekends.

Sure, there are many persons who seek excitement and adrenalin highs through participating in such activities as rock climbing, white water kayaking, sky diving, or other adrenalin charged activities. But the difference between us and them is, at the end of the day, those people go home.

Going home after the adventure isn’t, it seems, what I and my expat compatriots are about -- our urges last much longer and go much deeper than a three-day weekend. We expats are, apparently, wired a little differently.

I was puzzled by that and wondered, where did this need for adventure and the desire for something better come from?

I realized that in my talking to other expats I had learned that (curiously) they predominantly came from three areas of the United States -- the West Coast (often California), Texas, and Florida. (I’m not discounting those who come from other states, or countries like Canada, which accounts for a significant number of the expat residents here. I am just confining this to what I know about; those who I have met from those parts of the USA. If you are so inclined, you can make the projections about those types I list here to those from other states or nations -- if you think they fit.)

As I was pondering that point, someone suggested that those are the three areas of the country that were the recipients of a large number of the early settlers -- those who had wanderlust, a curiosity, dissatisfaction with where they were, and that those characteristics had driven them West and/or South to seek new opportunities and different horizons.

Looking at it, it became somewhat logical to assume that since many of the modern expats here had come from those regions, they had possibly descended from the early settlers of those areas.

And it seems to follow then that their forefathers had likely descended from the original colonists -- a group of people who were brave enough, and driven enough by their internal makeup and external circumstance, to abandon their lives, board leaky, wooden boats that sail for months on a long, arduous trips, solely to satisfy a burning desire for adventure by starting a new life in a land they had never seen. Even many of those persons who came to the New World a century or two later had done so after leaving behind all that was familiar to start a new life; they just did it at a different time in history. Did I see a pattern here?

At each of those times, even if the migrants conscious motivations for moving may have been freedom from religious persecution, political oppression, due to economic need, or simply the desire to improve their lives, there was Continued on page 16...

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one common factor -- it took guts. And maybe, I decided, because they moved in the first place. But, did it somehow it took something else -- something beyond the surface lose some of its driving force upon arriving in a new land? explanations that drove them to make such a big change in their lives and circumstances.

It is obvious, however, that not all people had their gene satisfied because some kept moving West. And what about Were we modern expats similar? The ones I spoke with those folks? I decided that, by all indications, the power of the apparently had something deeper going on too. Like the Adventure Gene had encouraged some people to come to original colonists, they had an internal drive to leave where the New World but, once there, for some its power diminished they had grown up and had lived many years of their lives, and faded, while for others it still exerted it’s push. and go be somewhere else. Which led me to wonder, was there maybe an inner something in our pioneer forefathers So, then could it be that some of those early explorers -- the which might exist in some of us today? Is there something ones who carried a strong Adventure Gene -- rather than inside us that drives some of us to explore new worlds? stopping somewhere along the way, are the ones that ended up in the far west? Might that be why the second highest Which led to the question: Might there have been some density of people in the country occurs along the Pacific genetic proclivity in humans that causes some of them to Coast? Did some people, driven by their Adventure Gene, create settled societies while others continued to explore and keep moving and exploring until they ran into the physical discover new hunting fields? And, could it be that those who barrier of the ocean? And, because there was no farther for continued to explore had something different in their makeup them to go, they settled there? than those who choose not to move? Was there something internally driving them? Could that something be genetic? But, what about those who ended up in Texas? Contemplating Was it something that could be called an ‘Adventure Gene’? that question I wondered, did the same physical barrier the Pacific Ocean have on western travelers exist, but in a But didn’t all mankind have that gene in us? I asked myself. different way with regard to those who went Southwest?

The answer I got back was: How else could civilization Might it be that the early Texans, an adventuristic lot if there have reached the point it is today without it? The nomadic ever was one, found that the further south they went the tribes of pre-history certainly needed it to survive as they hotter, dryer, and less hospitable the land became -- until followed the herds in their seasonal migrations. Then I they finally reached a point where there was more negatives realized that we couldn’t all have that drive; if we did we’d than positives to moving on? all still be wandering the Savannahs in packs looking for our next meal. No, instead, what may have happened was that And what about the high number of expats moving here when agricultural cultivation and herding became social and from Florida? My thoughts are that, even though the bulk of survival factors, some members of the group lost the desire Florida’s ‘colonization’ may have come in a later age in US to wander and simply stayed where they were. Hmmmm. history, it was in many ways much the same as the original Maybe the human race needs some of its members to lose westward settlement of the country. That is, Florida was the desire to explore and decide to stay put, thereby making largely populated by persons who came from the northeast the society more stable for the group by tending the crops because they were looking for something better -- possibly and keeping the home fires burning? warmer weather and a more relaxed lifestyle. Or maybe they moved because they still had some of the Adventure Gene Which just led to another question. Did those who founded stirring in them and it drove them to seek new opportunities, the US Colonies maybe do so because they had some of that and so went South. gene inside them; some inner drive to wander that had been carried over from their ancient ancestors?

After discovering that large numbers of the expats in Costa Rica came from those three geographical areas of the US, I But, if that were the case, if the early North American settlers was brought back to me and my original question: How did had the Adventure Gene, why did so many clump themselves I get here? Do have some of that gene in me? Is it possible on the eastern coast of the continent? Could the Adventure that like many of those old travelers, I moved out of the US Gene be satisfied? Were the colonists who immigrated to because of some leftover gene in my biology was driving America be like some of those in the original nomadic tribes; me? Was I connected to my fore bearers by some sort of once they discovered a desirable place they lost their urges genetic compulsion to seek new horizons? for further wandering? Could it be that that ‘satisfaction’ explains why the majority of those Europeans who originally Could it be that my feeling of being pushed arose out of the sailed to the Eastern North American seaboard, stayed fact that I came from one of those areas (I was born and grew there? Is that why the densest population in the country is in up in the Pacific Northwest)? Maybe. I knew my ancestors the northeast part of the country -- because the bulk of those were not among those who found what they wanted on the who originally immigrated to the New World lost their need to Eastern Seaboard, or even the Midwest (I can trace my Continued on page 17... move on once they had arrived? Surely they had the Gene

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linage back through Ethan Allen on one side and William “Buffalo Bill” Cody on the other.) My father’s family moved from the East coast to Nebraska to Colorado to Washington State. On my mother’s side, our ancestors were some of the original Pilgrims and I know that they were later residents of the Midwest and then, in more modern times, lived in Washington, Oregon, and Alaska. Obviously, both families were among those that had kept moving until they ended up against the Pacific Ocean. The conclusion I drew from that is that both sides of my family must have contained a strong dose of the Adventure Gene. And, therefore, it seems logical to conclude that, if the Adventure Gene existed in them, they had passed it down to me.

all the obstacles and challenges in stride and expect to pay them as part of the price we incur for satisfying our inner need to seek adventure and look for something new and better. We may not be as tough as our ancestors, after all, we don’t have to kill our dinner at the risk of being killed back, nor do we wear buckskin shirts or own flintlock rifles. But we have the same drive as our predecessors -- to explore the possibilities of what’s over the horizon.

After finishing my Naval career and traveling all over the world, there were many years of ‘stability’ as I lived in the same town in Florida for twenty--four years. But then I found I was again feeling the strong need to ‘go see, go be’ somewhere else. And now, here I am, an expatriate living in Costa Rica.

And, in the end, I have come to believe that many of we expats are expats largely because we are genetically preprogrammed to be so -- because our Adventure Gene says we must.

So, that’s how I believe that I came to live here in Costa Rica: I think that I, like others of my family before me, am infected with the Adventure Gene -- it is in my blood and out of my control. And because of my genetic heritage I am in Costa Rica equally as much because I wanted to be here as So, is that why I felt the need to move? Looking back, my because my biology made me want to leave there. predilections seem obvious. Even in my early years, from the time I was in my teens, I had an urge to “go see the world.” For now, having obeyed my Adventure Gene, I have To satisfy that inner drive, at the age of 17, I joined the U.S. found that living in a foreign land has not only been a very Navy. And that worked for a many years -- being in the Navy enlightening, but an inner satisfying experience. Building a allowed me to satisfy my drive to see and experience new new life in an unfamiliar culture with different customs and places and other cultures with the advantage of being in a language isn’t easy and has many difficulties. But like my safe environment. forefathers, I am adapting to the differences.

And that’s ‘How I Got Here.” Now, what did I do with my Pizote-skin hat?

In the end I have concluded that, yep, if there is such a thing as the Adventure Gene, I have it. I have an enduring wanderlust that periodically needs to be obeyed. In retrospect, I now believe that at various times in my life, I have been biologically driven to follow my forefathers’ example and abandon all that was familiar and comfortable to go see what’s ‘on the other side of the mountain.’

So, after I arrived at these unscientific, unproven, (and some will say wild) conclusions, I decided I wasn’t so weird -- my moving to Costa Rica was just my genetic heritage asserting itself. Just like it’s done to others in my family history. I decided, if it exists, I have an Adventure Gene. And it seems to me that many of we ‘expat’ types have all inherited it to some degree too.

Allen Dickinson is a member of ARCR. After serving 23 years in the US Navy he settled in Pensacola, Florida, where he resided for 24 years. In 2006 he retired from operating his own licensed mortgage brokerage business and relocated to Costa Rica. He holds a Bachelors Degree from the University of New York and a Masters Degree from the University of West Florida. He comes from a long line of pioneers which extends back to some of the original Pilgrims and his family were some of the original settlers of the far Northwest, USA. Sure, we expats have to deal with hardships and cultural He now lives in Santa Ana, Costa Rica, and can be reached quirks. But we who have chosen the expat style of life take via email at: humphree@bellsouth.net I say the following without meaning any negative connotations: Most modern Americans, like many of their European ancestors, are not capable of giving up all that is familiar and comfortable to try something unknown -- particularly if it impacts nearly ever facet of their lives. It becomes clear why; if we accept the possibility of the existence of an Adventure Gene, that it’s just that some of us have a lesser biological desire to explore than others do.

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Wild Side

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by Ryan Piercy

Flies on Fire

combined with other substances cause the firefly to ‘light up’ in a process called bioluminescence.

One thing I love about living here is the opportunity it gives for the kids (and us) to experience so much nature firsthand.

One of the most magical encounters is actually available right in our back yard. At certain times of the year, Lightning bugs, or Fireflies, light up the night all around our home and nearby, and the kids always beg to go out onto the patio to watch and examine them up close.

Firefly expert Marc Branham, of Ohio State’s Museum of Biological Diversity and the American Museum of Natural History in New York, explains that unlike a light bulb, which gives off only 10 percent of its energy as light while the remaining 90 percent is wasted as heat, almost all of a firefly’s energy is given off as light.

Fireflies are very interesting, although they are neither flies, nor even on fire. They are in fact part of the beetle family, known as Lampyridae (“shining ones” in Greek). Real flies have a pair of wings, while beetles have two pair, or four wings in total. Early sailors from Europe returning from the South Pacific told stories of entire fields of fairies flashing in unison, in reality fireflies, which have fascinated us for centuries.

One reason these beetles are thought to light up is to warn predators that they have poisonous chemicals in their body, and they sometimes blink when in danger. The main reason though is to attract females, and the females flash back to let them know they have seen them.

Firefly larvae are usually found in rotting logs and litter, near ponds or rivers, and the adult Fireflies are usually found in the same general vicinity of their larvae. In the world it is estimated there are over 2000 species. North America is home to about 170 of these, while tiny Costa Rica has a known 80. It is also estimated that less than half the species are known, with many to be discovered still, especially in Central & South America.

The Fireflies are known in Costa Rica as Luciérnagas or Candelitas. They are also sometimes affectionately nicknamed Culi-prendis (lighted butts). It is this simple feature that is what makes these little bugs of such great interest. Two rare chemicals present in their abdomens’ After mating, the females lay their eggs in damp soil, where create this light, luciferin and luciferase. The first is the it takes about 3 weeks until the young larvae appear. These source of the light, while the second is the trigger. These live underground for 1-2 years where they are predators upon earthworms, snails, slugs and so forth. In spring they wrap themselves in a mud cocoon, about the size of a marble, and in early summer emerges the adult Firefly.

The adults feed mainly on nectar, though some of the females may supplement their diet with meat. Some are able to imitate fireflies of other species of the area, luring unsuspecting males into their clutches for dinner…

Fireflies can be found in wooded and swampy areas throughout the country, mainly in cool damp locations. It is worth taking an evening to go for an outing just to be mesmerized by these tiny dancing balls of light.

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Health Care e

by Juan Jose Saldarria aga

Air Ambulance Services Costa Rica once again has made enormous advances in its ability to provide better health care to its residents, this time in the form of Air Ambulances, and SARPA CR began operations in Costa Rica after a long road and much bureaucracy. Looking to achieve the highest standards, and accreditation from the Government, the company has finally started offering service all across the country.

All the personnel in SARPA CR are professionals in Health, with years of experience in critical care and emergencies, and now also specially trained in aero medical transportation, furthermore the aeronautical staff all have enough flight hours to guarantee the best response in any situation.

In its first month of operations, SARPA CR transported more than 10 patients all across the country, from adult to infants, SARPA-CR was born with the unquestionable need for in stable or in critical condition. Patients have included both patient transportation in Costa Rican territory; seeing foreigners and nationals, working with public hospitals or how ambulance service is delivered everyday under poor private clinics. conditions and with improper equipment; they felt the need to provide the population with a better alternative in this delicate The company operates two different aircrafts, a Bell 212 helicopter, and a Jetstream 32 airplane. This provides area. them with the adaptability to respond to any situation in any location, and in the fastest way possible, with all the necessary equipment and adequate personnel. Each aircraft is equipped with the latest technology in stretchers, oxygen providers, Dragger incubators (The most modern equipment in the country), multi channel infusion pumps, and all the necessary advance life support apparatus.

The idea is to be available, anytime and anyplace, wherever the greatest need may be for immediate and capable ambulance care.

For these reasons, in 2008, this Columbian group decided to begin the process of establishing services in Costa Rica. This process has brought them to become the first fully certified entity of this type in the country; working with security, thinking about the patients needs, and always maintaining a sense of ethics and morals, they hope to lead this area of patient transportation into a more safe, professional and humane act. With over 20 years of experience, they are more than capable of achieving their goals.

They maintain that their service is characterized in this statement: “We fly no matter the situation, from sunrise to dawn, where the only thing to prevent us are extreme climate conditions, because for us, the patients are the most important thing, because every life counts, and our greatest satisfaction is to take with us, that person with a severe All the hard work and effort was to become not only the first clinical condition, or that child who’s life is in risk, and deliver Medicalized Air Ambulance in the country but also to become them in a good and stable condition,” the best, obtaining different certificates in Aeronautical and also in Health policies and laws, under the authorities of “We fly for life when every second counts…” the Direccion Nacional de Aviacion Civil and the Minsiterio de Salud. All this was done in order to provide the highest More information on the services available can be found standard in medical attention to patients, and the highest on their website at www.sarpacr.com. The ARCR is in the level of safety in all the flights. process of discussing affiliation options with them.

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May- June, 2010

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Dollars & $en nse

Furthermore, China is still one of the World’s pricier stock markets, selling at 3.3 times Book Value, compared to the Emerging Market Index at 2.12 times and the U.S. Market at 2.24 times Book Value.

by Alan Weeks

FAIRY TALE ECONOMICS There are still those who want to believe that Chairman Wen, Chairman Ben, and the other central bank leaders can simply Broken China? pump $15 trillion or so into the global economy to re-inflate it with their exponential debt-creating ‘magic’, and the Great RED FLAGS Recession will evaporate. However, many are becoming As the savvy pro, GMO’s Edward Chancellor said in his suspicious that we are being fed misleading economic data recent piece called “CHINA’s RED FLAGS”: “China today by the Chinese government (and the US government for that exhibits many of the characteristics of great speculative matter). manias”. “Markets in China”, and elsewhere, “are flashing warning signals and look ripe for a correction”.

All the statistics reported by the Chinese show the country continues to have a very robust economy. And viewed from Mr. Chancellor also said: “While surging credit has revived New York, investors are acting on the assumption that China the animal spirits of Chinese investors and whetted is already a superpower. their appetites for all manner of stocks and IPO’s, the real action has been in China’s overheating property Many even think that China’s gargantuan foreign-exchange market”. And, “just because the timing of any future (FX) reserves render its economy invincible. Of course these crisis is imponderable, and losses can be concealed, reserves can be used to buy foreign assets; pay for imports; doesn’t mean the risk posed by the real-estate bubble or defend the currency. However, they are not especially should be ignored” effective in ‘wrestling’ with the serious problems that would follow the collapse of an asset-bubble or a broken banking Several other articles have reported that a number of ‘Ghost system after being deluged by bad debts. towns’ have been built in China since the boom started in 2003. And, other articles have purported that China is in Investors should also be aware that China’s domestic the midst of the ‘Greatest Bubble in History’. Thus, as economy is very small compared to that of Europe, the USA, Chancellor mused: “China has become a field of dreams, or Japan. In fact, it is only about 5% the combined size of a build-and-they-will-come economy”. these economies. In addition, a respected research group estimated that China’s domestic economy would only triple LOFTY STOCK MARKET in size by 2025; still small on a global scale. Thus, China’s Investors should be concerned about the prospect of rising domestic economy cannot sustain its economic growth in this interest rates, and a market that is still trading at a premium era. to other emerging markets, not to mention developed ones.

Furthermore, in order to illustrate just how serious the Shanghai stock market ‘bubble’ is, one pundit recently provided charts of the 3 major stock market ‘bubble/busts’, of the last century, superimposed on a chart of the Shanghai market index to date. The other market Indices were the Dow Jones through the 20s & 30s; the Nikkei through the 80s & 90s; and the NASDAQ through the 90s & 2000s. This constructed chart makes it very apparent that all 4 of the ‘bubbles’ are eerily similar in both magnitude and duration (to date).

In my February Dollars & Sense article called EXPOSING THE MYTHS OF THE BRIC’S, it was maintained that the Shanghai stock market is still in a bubble phase. The reasoning is that although the Shanghai and all other stock markets plunged in value in late 2007, this Index has climbed halfway back in value. And, by calculating the adjusted ‘Graham/Dodds’ price-to-earnings ratio; a timetested indicator of value; the current value is still 50 times earnings.

However, everybody knows that China is a manufacturing and export powerhouse. But, it is doubtful that many investors have had an opportunity to examine recent Chinese data in order to realize new export orders have been declining since last October and total manufacturing new orders started declining even more sharply in January of this year.

In fact, China expects to disclose an astonishing reversal after the March tally, with Imports topping Exports for the first time in six years.

Thus, a continuation of the steady slump in China’s orders could ‘burst’ the speculative demand for all industrial commodities; like copper, oil, and iron ore.

Furthermore, when trying to judge how effective huge FX reserves can be to protect a country from serious economic damage, one is reminded that the only 2 countries, which had previously accumulated such large FX reserves relative to global GDP, were the U.S. in 1929 and Japan in 1989.

Continued on page 23...

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Other parallels with Japan 20 years ago are also discouraging. Then Japan, like China now, had an economic model that seemed unstoppable. In addition, it should be noted that in Japan at that time, it was the business sector’s property-related debt, which created Japan’s Balance Sheet malaise. In China, the same is true today.

property prices and inflation”. This was stoked by $1.4 trillion in new lending last year. However, the real question is whether he can successfully rein in the excesses.

One recommended remedy is to overhaul the tax system. A property tax and sales tax would create a steady stream of revenue for China’s local governments. And, this could wean Therefore, when the Chinese story tale is finally written, it them from dependence on land sales and production taxes could well end up sounding more like the story of Humpty- for income, both of which have helped fuel the construction Dumpty falling from the Great Wall. and real estate speculation. However, the fact is that many Chinese officials oppose a property tax, fearing it would THE GOVERNMENT WILL FIX IT reduce the value of their own real-estate holdings.

There was a time when there was a blind faith in the competence of the authorities. But, in recent times no Moreover, both Property developers and the Leaders government policy has appeared to have done much to fix of State-owned enterprises that invested heavily in real anything. In fact, more unintended consequences than ever estate last year with the new loans are among the political expected, have become apparent. delegates.

According to the Ministry of Finance: “they have become very powerful, very cash rich, and very How different is the government of China at being able to resistant to reform”. fix their financial and economic problems? While it is true that they are not encumbered by trivia like freedom or public The end result may be that, with Wen and Hu’s leadership opinion: Will the leaders be better able to fix them? tenures starting to wind down, they won’t be able to muster the political support needed to overhaul the tax system or It has been encouraging that Premier Wen showed to close down needless factories. And, it is beginning to he is aware of the problems when he called China’s seem likely that these top leaders will have to just ‘kick all economic growth path “unbalanced, uncoordinated, the tough structural problems down the road and let the next and unsustainable”. Wen further noted in late February guys handle it’. However, the longer the delay the more that “2010 would be the most complicated year for the Continued on page 24... country’s economy as the government sought to control

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serious the impact will be on the country, its people, and its trading partners.

MORE RED FLAGS In GMO’s Edward Chancellor’s recent piece he provided another eloquent chapter and verse to China’s dilemma when he contended that “China today exhibits many of the characteristics of great speculative manias over the past 3 centuries”. To support this claim he found that; such debacles usually started with a compelling growth story.

Another feature was a blind faith in the competence of the authorities. The ignominious list also included: excessive capital investment; a surge in corruption; easy money; fixed-currency regimes; rampant credit growth; moral hazard; precarious financial structures; and rapidly rising property prices powered by dodgy loans.

It is no surprise that most of these ignominious happenings had also been present in many other countries around the globe. And, we know what is happening to them.

MYTHS ABOUT CHINA While the Chinese communist government’s embrace of capitalism has lifted 300 million people out of abject poverty over the past 3 decades, the disparity of income is still huge.

Myth #1 - It is a myth that the Chinese people are no longer improvised.

In fact, over 150 million of China’s poor still have less than $1 per day income.

Another fact is that the big ticket item purchases that often make the headlines are made by the upper class consumers in China; which comprises less than 1% of the population.

Myth #2 – It is a myth that Chinese are big spenders.

The fact is that Chinese consumers have one of the world’s highest savings rate. As mentioned in previous articles, the lack of a health and social safety net continues to be the dominant reason for high savings.

Myth #3 – Companies that can penetrate the Chinese market will prosper.

The fact is that if the local government wants you dead tonight (figuratively speaking), you won’t live to see the sunrise the next morning.

One international business investment manager described it this way: “Based on our 160 investments in 55 emerging countries around the world, 8 are in China and seven of those are giving us headaches”. He explained this as follows: “In most other countries, you can sit down with a potential partner (Russian, Ghanaian, Nigerian; etc.); you engage with them and come to an agreement; then you are partners”. In China, you can achieve an agreement and say “We’re partners”, and they say “absolutely”. You write a cheque and the partnership is over. They go off and do

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whatever they want. We have covenants, contracts and all the legal things but in China, if you think about taking a contract to a local court, your chances of coming out with anything are very slim.

Thus he warned: Making investments in China is something you had better be very careful about.

As further evidence of deteriorating corporate confidence in doing business in China, the author of an April 8th Financial Times article reported that, since the establishment of the EU/China Chamber of Commerce 10 years ago, he had never seen market sentiment so bleak and pessimistic.

SUMMARY OF KEY ISSUES 1. CHINESE BUBBLENOMICS Are valuations low enough now in the Shanghai market to offer good investment opportunities? Definitely not?

China is still in a bubble phase, with its Stock Market Index P/E ratio still very high, and a Book Value almost two-thirds higher than the total Emerging Markets Index.

2. ‘STIMULATED’ GROWTH The fact is that most of China’s reported GDP is driven by such absurd spending. This is a measure of waste not economic well-being. As one American Pundit put it bluntly: “If stimulus spending is a measure of stupidity, the Chinese are 3 times as dumb as the Americans” 3. TRADE WARS The world has changed; but China has not. China responded to the world financial crisis with what seemed to be great success. But this is an illusion. China’s solution – a surge in spending on fixed investments – is creating even greater excess capacity. In addition, China’s excessively easy loan policy funded a huge surge in the stockpiling of key commodities.

It Furthermore, China continues to resist pressure to allow its currency to strengthen in order to improve the huge global trade imbalances. Thus, Chinese policies may be increasingly destabilizing for the world.

Trade tensions are escalating but Michael Pettis thinks Beijing is still complacent, and said: “I am not sure policymakers fully understand how vulnerable China is to a trade war” Investors have been duly warned!

Please note that the opinions expressed in this article are solely those of the writer. For more information and reference details please contact Alan Weeks At (507) 290-3136 or by E-mail: imccr2002@yahoo.com

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Autopista Prรณspero Fernรกndez, kilometer #4, Stewart Title Building, Third Floor 506 2505 3000 customerservice@stewartcr.com www.stewartlat.com

May- June, 2010 !& X .UEVO%DIFICIO INDD

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0-

Exchange rate of the Costa Rican ¢ to the US Dollar October 585.94 November

559.27

December

571.81

January

565.11

February

558.45

March

528.78

Basic Interest Rate October 9.00 % November

9.25 %

December

8.25 %

January

8.00 %

February

8.00 %

March

8.00 %

Exchange rate of other currencies to the US Dollar Japanese Yen 93.000 Swiss Franc

1.0572

Canadian $

1.0160

Giro (DEG)

1.5182

ÂŁ Sterling

1.5149

Euro

1.3506

Mexican Peso

12.360

Korean Won

1,131.3

Danish Krone Norwegian Krone Argentine Peso

5.5129 5.9408 3.8763

Colombian Peso 1,923.1 Brasilian Real

1.7850

Libor Rate 1 month 0.2486 % 3 month

0.2915 %

6 month

0.4444 %

12 month

0.9200 %

Prime Rate

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3.25 %

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Holidays of Costa Rica May 1st- ARCR closed ‘Labour Day’ June 29th‘Saints Peter & Paul Day’ ******************** A Touch of Wisdom “One man may be more cunning than another, but not more cunning than everybody else.”

Ben Franklin (1706-1790) “The best way to keep good acts in memory is to repeat them.”

Cato (234-149BC) “‘There is always someone worse off than you.”

Aesop (620-560 BC) ******************** A quick smile...

Early one morning, one of the gods was galloping around Mount Olympus. Invigorated by the brisk breeze, he shouted euphorically, “I’m Thor!”

His stallion looked back at him and reminded him, “That’th becauthe you forgot the thaddle, thilly!”

Did you hear about the blind carpenter who picked up his hammer and saw?

Did you hear about the deaf shepherd who gathered his flock and heard?

Why do we park our car in the driveway and drive our car on the parkway?

If tin whistles are made of tin, what are fog horns made of?

If vegetarians eat vegetables, what do humanitarians eat?

May- June, 2010

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