I just came from the bank. Record high exchange rate and it got me thinking. This is the perfect storm for Mexico. They went all in for Swine Flu and the economy never fully recovered. Pemex (as corrupt as can be) was already struggling before the bottom fell out of the oil market. It is known by everyone who buys gas that Pemex pumps don't pump a full liter. Enter Gulf Oil, with the ad campaign of filling a graduated beaker and checking it against the pump. They got my business, and now I'm seeing road signs pointing to Gulf stations.
Tourism is their bread and butter, so closing the border is unthinkable. They were forced into a new trade deal that is not in their best interest. The upside is that only 7% of the population is over 65. But 60%? live in poverty, closely packed in to small, dirty spaces. They have absorbed migrants heading to the US on both their northern and southern borders. Obesity and diabeties are rampant.. I read that 3 out of 5 Mexican children are obese. And on and on. Italy might have to take a step back when it's all over and done.
Oh and our president is even more flip about it than Orangie.
Sad!
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Originally Posted by
Bah Humbug
Auto-pause is a honey-tongued devil whispering sweet lies in your ear.