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That’s interesting and very helpful, SAJ. I am waiting to purchase some real estate in a South American country and believe that the dollar is currently significantly undervalued in relation to that country’s currency, the Guarani. Your two interesting posts bolster my plan to hold off for several more months before buying my ranch.

Mismanagement? Heck, I know somebody who can get you a driver’s license in a certain South American country for $50 USD and a bottle of whiskey.

Now that is mismanagement. But it beats the Department of Motor Vehicles in the USA. Trust me.

M'friend, first, I agree with you (although I didn't know licenses were that cheap in S. A.). Secondly, since 1980, I've written licensing software for the Missouri Department of Revenue's ''Fee Agents'', as they're called here. Cost to the taxpayers? Zero. Well, a few dollars for phone calls here and there.

TEN years ago, MoDOR (which is the same as other states' DMV departments) decided to write their own licensing software. $30 million dollars and 10 years later -- with their 'system' NEVER completed, and guaranteed to crash on the last 2-3 days of every month (because the stupid buggers don't understand the concept of transaction density and bandwidth) -- they've decided to buy a licensing system from Iowa and retrofit it to their (VERY curious, trust me) standards.

Apparently, among other things, no one ever told them that, if you can't write your own system(s), you can't successfully retrofit anyone else's. Oh well, it's only taxpayers' money, after all, right?

Re: South American currency. I don't follow it as closely as I perhaps should. However, that said, a Euro trainwreck (which we are NOT far away from) will hurt S. Am. currencies considerably...not to mention the intentional damage being wreaked on them by 'La primera Dama de Cuba', aka Hugito Chavez.

You are wise to wait. Events pending, you might be able to pick up your property for a song, a steal, in a year or so.

Best luck to you on that, and FReegards!