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Money sent home by Mexicans in US drops 12 percent
AP on Yahoo ^ | 10/1/08 | 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

1 posted on 10/01/2008 9:01:50 AM PDT by NormsRevenge
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To: NormsRevenge

that’s 1.9 Billion too many..


2 posted on 10/01/2008 9:03:01 AM PDT by Ancient Drive
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To: 1_Inch_Group; 2sheep; 2Trievers; 3AngelaD; 3pools; 3rdcanyon; 4Freedom; 4ourprogeny; 7.62 x 51mm; ..

ping


3 posted on 10/01/2008 9:03:43 AM PDT by gubamyster
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To: NormsRevenge
"Number of Mexicans in the U.S. drops 12%"

Now that'd be a headline.

Owl_Eagle

“When the stock market crashed,
Franklin Roosevelt got on the television
and didn’t just talk about
the princes of greed, he said,
‘Look, here’s what happened.’

4 posted on 10/01/2008 9:03:50 AM PDT by South Hawthorne (In Memory of my Dear Friend Henry Lee II)
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To: NormsRevenge

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.


5 posted on 10/01/2008 9:03:53 AM PDT by DonaldC
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To: NormsRevenge

Well there’s a drop of fair news today in a sea of devastation.


6 posted on 10/01/2008 9:04:15 AM PDT by DRey
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To: NormsRevenge

You’ll forgive me if I don’t shed any tears...


7 posted on 10/01/2008 9:04:43 AM PDT by Licensed-To-Carry (Time to dig out the pitchforks and torches...............)
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To: NormsRevenge
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.
8 posted on 10/01/2008 9:05:25 AM PDT by cripplecreek (Paying taxes for bank bailouts is apparently the patriotic thing to do. [/sarc])
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To: NormsRevenge

I guess there really is a credit crisis!


9 posted on 10/01/2008 9:05:41 AM PDT by mlocher (USA is a sovereign state.)
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To: NormsRevenge

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.....


10 posted on 10/01/2008 9:06:07 AM PDT by roaddog727 (BS does not get bridges built - the funk you see is the funk you do)
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To: NormsRevenge
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.

11 posted on 10/01/2008 9:33:06 AM PDT by hunter112 (Gov. Palin is ten times the woman Hillary could've hoped to be, if she had stayed a "Goldwater Girl")
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To: NormsRevenge

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.


12 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.)
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To: NormsRevenge

In a fair world, Mexico would cut back on the amount of felons and 3rd world disease they send to us.


13 posted on 10/01/2008 9:35:52 AM PDT by MarineBrat (My wife and I took an AIDS vaccination that the Church offers.)
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To: NormsRevenge

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.


14 posted on 10/01/2008 9:39:25 AM PDT by PUGACHEV
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To: NormsRevenge

Seize it, or Tax it.


15 posted on 10/01/2008 9:57:56 AM PDT by gitmogrunt (The stupidity of the American Sheeple never ceases to amaze me)
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To: NormsRevenge

Good. Only 88% more to go.


16 posted on 10/01/2008 9:58:51 AM PDT by Oldeconomybuyer (The democRATS are near the tipping point.)
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