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el-salvador commented on Why Gen X is the real loser generation   economist.com/finance-and... · Posted by u/paulpauper
elmerfud · 4 months ago
Despite being told very early on about the 401k and saving for retirement when you're young to ensure that you will have enough I know there are many in Gen x that have not done that. They ignored it until they were in their 40s or '50s and are now worried about what they'll do. Because social security won't be enough to live even a simple life in many places in the USA for them. What they do have for retirements won't be able to supplement to live a simple life either.

Of course, I don't believe that this fact has gone unnoticed for many forward thinking countries around the world. Expats in retirement have always been a thing but has always tended to attract those who were predisposed toward international travel and living a significantly different lifestyle than the USA. What I see happening now in this many countries is about 5 years ago they've started planning to see when Gen x is going to retire and how they can attract those people. Just taking El Salvador for an example, crime has been reduced immensely, there has been a boom of middle class stores and shops. They continue to build out infrastructure that is more appealing to a casual USA citizen. Prices have risen dramatically in the country but those prices are still less than what you would see in the USA. You can come here with $3,000 in month and social security and live a very nice lifestyle. The downside is, it has begin to price out an exclude many of the citizens here from participating in that lifestyle. Some of the local citizens absolutely enjoy it as they have also increased their income to take advantage of these. In this country and several others I have seen this same trend. Certainly they're attempting to bolster their own citizens middle class but I'm not sure that's their primary focus. Because so many of their citizens are left behind and continue to remain impoverished and under-educated and they lack sufficient jobs to employ them at a level that is needed to take advantage of these things. Absolutely attracting retirees seems to be their main focus. They can continue to supply cheap labor for retirees and attract those dollars that they bring with them.

el-salvador · 4 months ago
> You can come here with $3,000 in month and social security and live a very nice lifestyle. The downside is, it has begin to price out an exclude many of the citizens

It seems that every new apartment in San Salvador is being built to cater that income bracket. In the coastal region is even more. It's pricing out 97% of the Salvadorans who earn less than $3000 a month.

Judging from the instagram accounts of my friends in El Salvador, they are no longer taking local vacations. A week vacation to Mexico or Colombia, even including airfare, can be cheaper than a local one.

el-salvador commented on Android Earthquake Alerts: A global system for early warning   research.google/blog/andr... · Posted by u/michaefe
homebrewer · 5 months ago
I live in a seismically active (and poor) area. Dunk on Google all you want, they're the only organization who provide earthquake alerts in my area. The government has better things to spend money on (like pervasive corruption), but Google usually sends a notification 30-60 seconds before a perceptible earthquake happens.
el-salvador · 5 months ago
We’ve had this Google service in El Salvador for a while, and it’s really cool. The first time we received an earthquake alarm we felt like we were living in Japan. I never thought we would have Japanese-style earthquake alerts here.

iPhone users were a bit annoyed though, because it only worked on Android phones.

el-salvador commented on What the Press Got Wrong About Hitler   theatlantic.com/ideas/arc... · Posted by u/cyberlurker
Volundr · 9 months ago
Honestly I'm getting pretty worried. We just had the current administration sell a bunch of young men into slavery in a El Salvador (they will be doing forced hard labor) then openly state in a court filings that they had no evidence of these men committing crimes, and still MAGA seems fine with this.

I don't know that there's anything Trump can do at this point that will lose him support.

el-salvador · 9 months ago
> We just had the current administration sell a bunch of young men into slavery in a El Salvador.

El Salvador has different prison systems for gang members and for other convicts. The prison they were sent to has a higher security level and is more strict, so they don't participate in the work program.

el-salvador commented on El Salvador abandons Bitcoin as legal tender   ticotimes.net/2025/02/02/... · Posted by u/smallerfish
josu · a year ago
They didn't, the IMF just offers better terms than the free market. And they are still doing their Bitcoin thing, this was just a small concession they were willing to make.
el-salvador · a year ago
El Salvador has had limited or very expensive access to the bond market for the past years. I thinkneed it, otherwise they wouldn't have made a law to loan money from El Salvador's pension funds with 0% interest.
el-salvador commented on El Salvador abandons Bitcoin as legal tender   ticotimes.net/2025/02/02/... · Posted by u/smallerfish
p_j_w · a year ago
>Now the businesses are free to accept it or not instead of being required to accept it. That's all.

Right, so it's no longer legal tender.

el-salvador · a year ago
Day to day there won't be much change, as bitcoin acceptance wasn't really enforced.
el-salvador commented on El Salvador abandons Bitcoin as legal tender   ticotimes.net/2025/02/02/... · Posted by u/smallerfish
cle · a year ago
Ironically part of the long-term problem was El Salvador's dollarization, also preventing them from printing in a crisis (that crisis being the COVID pandemic).
el-salvador · a year ago
Dollarization was unpopular at first in El Salvador but after 24 years of dollarization, and both right and left wing governments, there are are no official plans of rolling it back. It's way too convenient to use the world's most used currency as our everyday currency.
el-salvador commented on El Salvador abandons Bitcoin as legal tender   ticotimes.net/2025/02/02/... · Posted by u/smallerfish
pajko · a year ago
The loan was not to mitigate the risk of the Bitcoin. They needed the loan for reasons. The IMF deemed the high involvement in Bitcoin risky for the loan. The IMF text has a "meanwhile": https://www.imf.org/en/News/Articles/2024/12/18/pr-24485-el-...
el-salvador · a year ago
> They needed the loan for reasons.

One of them being that El Salvador lost affordable access to the international bond market for a good part of the past years due to higher country investment risk, there were multiple reasons for that that are too long for one comment.

Some for the consequences have been:

The government switched to funding their bonds locally, including a good chunk of the local banks deposits which then the banks had to refinance to a longer longer term.

The government has been taking a good chunk of the pension funds with no interest paid back. Few details about this deal are available because the pension fund administrators and government supervisors have stopped publishing most of the financial reports for months.

el-salvador commented on El Salvador to Offer 5k Free Passports to Highly Skilled Immigrants   imidaily.com/latin-americ... · Posted by u/andrewfromx
jqpabc123 · 2 years ago
I applaud the effort but the biggest impediment is likely to be the historically high crime rate.

This is really a chicken or egg problem. Which comes first --- skilled people moving to El Salvador or a society in El Salvador that skilled people want to live in?

el-salvador · 2 years ago
I think El Salvador should offer two alternatives: Passport OR permanent residency. As there are many other countries that don't recognize double nationality and would require the applicant to cancel their original nationality. And that's a harder decision than just moving countries.

I think there may be a niche that could take advantage of this model. Specially those coming form countries that have problems less present than El Salvador. Like those affected by war, bad climate, unstable currency o weaker passports.

While crime was historically high, El Salvador is a very different country now with today's low crime rate. It's been truly life changing for everyone in the country who is younger than 50 years old and never lived in a country without war or gangs.

el-salvador commented on Instagram overtakes TikTok as most downloaded app   theguardian.com/technolog... · Posted by u/tosh
cangeroo · 2 years ago
I think anyone talking about TikTok's content is doing themselves a disservice, because it fails to understand that the content is heavily curated by the algorithm.

I tried installing TikTok on a blank developer phone, and the content was vastly different from what I was used to. Absolutely appalling content, the worst that humanity has to offer.

But my own feed is nothing but serious and mature content.

The question is rather how those algorithms can have a negative influence on people's perception of reality.

Who decides what is bad content? Sociologists? Should we suppress it, to save democracy? Or does that kind of censorship lead to fascism?

el-salvador · 2 years ago
> I tried installing TikTok on a blank developer phone, and the content was vastly different from what I was used to. Absolutely appalling content, the worst that humanity has to offer

I've had similar experiences with new TikTok installs. One thing I've noticed is that I get lower quality content with new installs using mobile network shared IP addresses, while better content with residential IP addresses.

el-salvador commented on Ask HN: Why is the crypto booming again?    · Posted by u/haebom
haebom · 2 years ago
el-salvador · 2 years ago
The source cited by the article (https://bitcointreasuries.net/entities/48) is not a government website.

While I believe it's ok for my government to invest public funds in assets with different risk profiles. I would like to see an official website and an audited financial report.

This is not a far-fetched requirement for El Salvador, where a corporation with just $2000 in equity has to submit a yearly audited balance sheet for public record. Or even small town credit unions with assets a fraction of the bitcoin funds have to publish full reports online.

u/el-salvador

KarmaCake day560April 27, 2020
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