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Money sent home by Mexicans in US drops 12 percent
AP on Yahoo ^
| Traci Carl - ap
Posted on 10/01/2008 9:01:50 AM PDT by NormsRevenge
MEXICO CITY - Mexicans living in the U.S. sent home 12 percent less money in August, the largest drop on record since the Bank of Mexico began tracking remittances 12 years ago, the central bank reported on Wednesday.
Remittances began dropping early this year, economically stranding many small towns and neighborhoods that live off the stipends. The Bank of Mexico said remittances will likely continue to fall in the coming months because of the "difficult problems the U.S. economy faces."
The bank said remittances in August dropped 12 percent to US$1.9 billion. That compares to US$2.2 billion in August 2007.
(Excerpt) Read more at news.yahoo.com ...
TOPICS: Business/Economy; Foreign Affairs; Government; Mexico
KEYWORDS: aliens; bankofmexico; drops; immigrantlist; mexicans; money
that’s 1.9 Billion too many..
To: 1_Inch_Group; 2sheep; 2Trievers; 3AngelaD; 3pools; 3rdcanyon; 4Freedom; 4ourprogeny; 7.62 x 51mm; ..
"Number of Mexicans in the U.S. drops 12%"
Now that'd be a headline.
When the stock market crashed,
Franklin Roosevelt got on the television
and didnt just talk about
the princes of greed, he said,
Look, heres what happened.
posted on 10/01/2008 9:03:50 AM PDT
by South Hawthorne
(In Memory of my Dear Friend Henry Lee II)
I read once that the second only to oil was the “industry”, so-so-speak of Mexicans sending money back into Mexico from abroad, namely the U.S.
posted on 10/01/2008 9:03:53 AM PDT
Well there’s a drop of fair news today in a sea of devastation.
posted on 10/01/2008 9:04:15 AM PDT
You’ll forgive me if I don’t shed any tears...
posted on 10/01/2008 9:04:43 AM PDT
(Time to dig out the pitchforks and torches...............)
Remittances began dropping early this year, economically stranding many small towns and neighborhoods that live off the stipends.
Kinda like living on welfare. If it dries up you're screwed.
posted on 10/01/2008 9:05:25 AM PDT
(Paying taxes for bank bailouts is apparently the patriotic thing to do. [/sarc])
I guess there really is a credit crisis!
posted on 10/01/2008 9:05:41 AM PDT
(USA is a sovereign state.)
Boo hoo hoo.
Mexico’s biggest GDP component is from Transfer payments made by mexicans living in the US and sending it back home to MExico.
Sad state of affairs, that.....
posted on 10/01/2008 9:06:07 AM PDT
(BS does not get bridges built - the funk you see is the funk you do)
And this is during harvest season for many crops. Wait until late November, when the only crop being harvested is Christmas trees. Surely, the higher prices of produce caused by the increase in fuel prices has hurt sales, and that has hurt agriculture.
High fuel prices impact tourism as well, less job for motel housekeepers, etc.
posted on 10/01/2008 9:33:06 AM PDT
(Gov. Palin is ten times the woman Hillary could've hoped to be, if she had stayed a "Goldwater Girl")
Excellent. Any stats on how many illegals have either been sent home, or decided to leave on their own?
Let’s keep pushing this number down. WHooo-HOOO.
posted on 10/01/2008 9:34:15 AM PDT
by Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
In a fair world, Mexico would cut back on the amount of felons and 3rd world disease they send to us.
posted on 10/01/2008 9:35:52 AM PDT
(My wife and I took an AIDS vaccination that the Church offers.)
It’s a marvel that so much is still being sent. Separated from their home by thousands of miles, and living in a culture that exhaults self-indulgence, a sense of duty and obligation to their family remains strong.
posted on 10/01/2008 9:39:25 AM PDT
posted on 10/01/2008 9:57:56 AM PDT
(The stupidity of the American Sheeple never ceases to amaze me)
Good. Only 88% more to go.
posted on 10/01/2008 9:58:51 AM PDT
(The democRATS are near the tipping point.)
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