El Conquistqdor Francisco de Orellana

El Conquistqdor Francisco de Orellana
The Conquistador who put the Amazaon baisn "on the map"....Francisco Orellana

Monday, July 14, 2014

American Retirees Flock to Ecuador and Fight 'Gringo' Stereotype


Amber Payne

CUENCA, Ecuador — Thousands of American retirees are living out their golden years in a South American country the size of Colorado.
After International Living Magazine's “Global Retirement Index” anointed Cuenca, Ecuador's third largest city, as the top spot to retire in 2009, a great migration, or what some have nicknamed the "gringo invasion" began.
"Rather than sitting around waiting to die, we decided to do something different,” said 65-year-old Ernie Kinnard. “With the great medical care, cost of living, the weather, the people are wonderful – it's a great place to be."
But while this influx of people is considered by many to be a boost to the local economy, there is also growing concern that Americans are pricing out the locals and breeding culture clash.

Pensioner perks

For many retirees, the perks of life in Cuenca are too much to resist. For the 65-and-older set benefits include half-price water and electric bills, half-price tickets to cultural and sporting events, and sales tax refunds. Plus seniors can cut to the front of the line at the grocery store and the bank.
Ernie and his wife Jorie Kinnard, 60, call themselves "economic refugees." Ernie lost his job and half his 401k in December 2008 during the financial crisis. With the value of their home in free-fall, the Kinnards decided to leave Cumming, Ga. for Cuenca.
"Since we've moved here, I don't think there's a week that's gone by where I haven't said, ‘God I love it here, I just love it here,’” said Ernie.
AMBER PAYNE / NBC NEWS
Life is sweet in Cuenca, Ecuador. A basket of fresh bread is for sale in the local market.
"Senior citizens here have a red carpet," said Ana Lucia Serrano, the former head of Cuenca's immigration office. "And we believe that everybody is welcome in Ecuador."
Ecuador is an increasingly popular destination for Americans: some 285,000 U.S. citizens traveled there by air in 2012, according to the Department of Commerce.
And approximately 7,000 Americans have settled in Cuenca as of May 2013. With the number of full-time expatriates constantly in flux, officials estimate there are about 10-15,000 Americans who have resettled in Ecuador as a whole.
"It is sad to say, but they do not come here to live, they come here to die"

Good and bad

While the numbers may seem small, they have had a big impact on Cuenca, a city of approximately 350,000.
“What we’re trying to do is just create a friendly space to receive these migrants that we’re getting,” said Edward Miranda, Cuenca’s Director of Foreign Affairs. “In every migration influx, there are good things and bad things.
“A lot of services and new restaurants have been implemented throughout the city, which we see as positives. We’re [also] learning from the U.S. culture, which is seen as positive.”
But according to Miranda, the downside of the influx of the almighty American dollar is that it’s driving up prices on local goods and services and creating a housing bubble, as Ecuadorians increasingly cannot afford to buy real estate in their own country.

More Americans Opting to Retire Abroad

NIGHTLY NEWS
         
One university student complained that the taxi cabs frequently discriminate against locals, driving past them to pick up gringos who don’t notice or simply don’t care if the fare doubles from the usual $2 to $5 dollars.
When it’s a few dollars more, many Americans don’t mind paying “gringo prices” and a cycle continues, disrupting the economic flow. This over-paying and over-tipping can change the expectations of locals.
There is also growing frustration that some Americans take no part in economic growth but reap the social benefits.
"When you go to another country you are a guest, you have to respect the laws and respect the culture," said Serrano. "There were some people who [moved to Ecuador] that had never been out of the United States.”
Rosi Toledo, a freelance journalist, has been analyzing the impact of the American presence on Cuencan life and culture.
“They think they can change many things without knowing the history or the values of many traditions and other cultural issues," said Toledo.
Some Ecuadorians believe that because of their wealth some Americans expected priority treatment in the markets and around town.
"It is sad to say, but they do not come here to live, they come here to die,” said Toledo.
In response to complaints, Miranda has set up a task force to print more information around the municipality in English. They are creating an English website that explains local ordinances, trash/recycling laws, and information on Ecuadorian customs and culture.
AMBER PAYNE / NBC NEWS
Frances Hogg, a 60-year-old lawyer from Michigan, now calls Cuenca, Ecuador home.

Good neighbor, not ugly gringo

Many of the Americans are aware of the complaints and are trying to make sure their compatriots show their new community some respect.
"It's reflecting badly on all of us,” said 60-year-old Frances Hogg, a lawyer from Michigan. “We're a family and we need to take care of matters in the family.”
According to Hogg, many in the expat community are involved in giving back in ways big and small. From spaghetti dinner fundraisers, to volunteering at hospitals and schools, to providing life-saving surgeries to impoverished children.
There are dozens of expat blogs, expat e-books, and message boards likeGringoTree.com where subscribers sell items, search real estate and write articles touching on a range of issues – including fitting into their new community.
"Now that we're in their country, we need to learn their language ... Otherwise we're hypocrites."
Lee Dubs and his wife, Carol, moved to Cuenca in 2003, when there were only a handful of Americans living there. Their shop, “Carolina Bookstore” is an expat gathering place, a popular spot to buy English books and take Spanish lessons.
AMBER PAYNE / NBC NEWS
Lee and Carol Dubs left North Carolina in 2003 and made Cuenca, Ecuador their new home.
A retired language professor from North Carolina, Dubs has been very vocal about his concerns that some newcomers are uncomfortable integrating themselves into Ecuadorian society. He even wrote and article posted in an expat online journal titled, “Assimilation or Isolation? Good Neighbor or Ugly Gringo.
In contrast to the isolationist attitude, some Americans consider it is a point of personal pride that they have more native amigos than American friends. In the supermarket and on the streets, gringos walk past each other, unfazed by the others’ presences. As one retiree put it, “I have plenty of American friends back in Denver.”
"You need to move with a sense of humor..."
Judy, 67, and Bill Collins, 66, moved to Cuenca two years ago from Houston with “a lifetime boiled down to two suitcases,” committed to integrating themselves in the community and living as Ecuadorians.
"Now that we're in their country, we need to learn their language,” said Bill Collins. “Otherwise we're hypocrites."
The Collinses take weekly Spanish lessons and the have made friends attending an Argentine tango class where they are the only gringos. They advise other retirees interested in moving to Ecuador to have patience and keep an open mind.
"You need to move with a sense of humor. You're going to have to learn the give and take. If you can't give and take, you shouldn't come," said Judy Collins.
The U.S. Department of State maintains a complete description of living & travel conditions for American citizens in Ecuador at Travel.state.gov and recommends all U.S. citizens travelling to / living in Ecuador enroll in the Smart Traveler Enrollment Program (STEP).

Tuesday, May 13, 2014

Waking Up Without Coffee

By Chris Orr, Editor of Weather Trader

My coffee maker clicks on at 5 AM every morning so I can slip in my K-cup and sip some dark roast coffee while checking overnight markets, the latest weather and news. My second cup of coffee is just about gone by the time I’m caught up.

That morning cup of Joe gets the world moving. An estimated 83% of Americans drink coffee and the population of coffee drinkers is increasing. The United States spends approximately $4 billion each year importing coffee, with nearly a third of it coming from Brazil.

The supply of coffee has been plentiful … until recently.

Like most commodities, coffee’s worst enemy is the weather. Many coffee producers are going to struggle this year under the combined impact of a strong El Niño and “la roya.” But a bad year for coffee could be a good year for investors …
The quality and quantity of the coffee harvest closely tracks the cycle of El Niño and La Niña weather patterns. La Niña years, and for a period of time after, mark a time of abundance and lower prices. During El Niño years, and for a short period of time after, the crop is poor and prices jump.

Tropical weather patterns began to shift late last year ahead of El Niño. Four of the top five coffee producing nations are in a drought and the fifth will face it late this summer.

In fact, coffee prices have climbed sharply since early January as it became clear that drought had ravaged Brazilian coffee. The coffee crop from Brazil is expected to fall 20% — that’s equivalent to about 40 billion cups.

The situation doesn’t look much better for the other major coffee-growing countries. Indonesia has been suffering through a drought, while drought conditions have just started to settle in for Colombia and Vietnam.

Ethiopia, the world’s fifth largest grower, has been profiting from Brazil’s woes because their weather has been great for growing coffee. But their fortune will change in August, as El Niño reduces their rainfall to about half of normal.

And then there’s “la roya.”

Central America accounts for about 9% of the world’s supply of coffee. The weather has been hot, allowing “la roya,” or coffee rust, to spread. Coffee rust is a fungus that infests the leaves of the coffee plant. The fungus spreads quickly in the hot weather, withering trees and sharply slashing production.

The weapons of choice to battle coffee rust: spraying coffee plants with fungicide and cooler temperatures. Spraying costs money — money that small growers don’t have or are forced to borrow. The alternative — cooler temperatures — will arrive in August as part of the El Niño cycle. Even so, it will take months to years for coffee plants to recover.

Any way you slice it, coffee bean production levels will be low as El Niño brings drought throughout growing regions while at the same time aiding the spread of la roya.

The price of coffee has been fluctuating as traders respond to weather forecasts that are prematurely calling for rain to return to Brazil. (This is the same group of forecasters that predicted each blast from this winter’s polar vortex would be the last one. They made that prediction at least eight times until they finally got it right in March.)

Rain will return to Brazil in July just as Colombia and Central America dive deep into drought. Brazil’s rain usually comes back with a vengeance, increasing the risk for flooding and landslides, which will cause even more damage to the coffee plants.

Coffee will be in short supply for another two years before the weather becomes favorable again.

Playing the Commodities With Some Extra Kick

Making a profitable investment in coffee requires careful research and discipline. There are a variety of ways that you can invest in coffee, but there are few pure plays that will allow you to pocket a nice gain.

The largest roasters are part of much larger, diversified companies such as Nestlé and Procter & Gamble (NYSE: PG), making it impossible to justify trading either one on the price of coffee alone.

Chasing coffee shops can be a trip down the rabbit hole because there are so many other variables in that space and coffee is a high-margin item. The markup on a $2 coffee is about 500%!

The largest players, Starbucks (NASDAQ: SBUX) and Dunkin Brands Group (NASDAQ: DNKN), for example, leverage long-term contracts for coffee. Starbucks has its 2014 supply and 40% of its fiscal 2015 supply under contract, locking in a price so that it isn’t vulnerable to market fluctuations. Dunkin has coffee contracted through the end of the year. You won’t see the price of coffee increase at Dunkin until the fourth quarter, according to its analyst’s call.

An exchange-traded note (ETN) is an excellent way to play the rising price of coffee without having to worry about all the extra noise you might encounter with the roasters and the suppliers. I recommended the iPath DJ-UBS Coffee Subindex Total Return ETN (NYSEARCA: JO) in February and it’s jumped 11% in less than three months. And it’s not done rising. The dry conditions created by El Niño will keep coffee production levels down, forcing the price of coffee higher during the near term. JO is a simple yet effective way to capture any coffee price gains.
There’s a silver lining in every cloud,

Chris Orr
Editor, Weather Trader

Quito's 10 Best Cultural Restaurants: Ecuadorian Eats and Fine Dining

Note from Blog: Guess which restaurant in Quito is on this list!!!!!!!!!!!!!!!!!!!!!!!

Go to this link: http://theculturetrip.com/south-america/ecuador/articles/quito-s-10-best-cultural-restaurants-ecuadorian-eats-and-fine-dining/?utm_source=emails&utm_medium=external&utm_campaign=ecuadorfood