Mexico’s economy is better than ours
Michael Bloomberg (Mayor of New York, founder and majority owner of Bloomberg Financial Reports, really rich guy, etc.)
The only stock market NOT to take a nose-dive Wednesday were in Latin America. The Bolsa de Valores Mexicana lost 0.5%.
You figure it out.
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The background of Mexican anti-clericalism and the "atheist" general who led the Catholic counter-revolution of the 1920s 128 pp., Editorial Mazatlán, 2012.
An oral history of the World War II experiences of Gilberto Bosques (1894 – 1997), Mexico 's Consul General in Marseilles, France, who saved tens of thousands from the Nazis. 36 pp. Editorial Mazatlán, 2007 $35 MXP (click the image)
not often a comment of yours fails, RG. Yesterday we also had:
Canada up 0.74%
Brazil up 0.48%
Chile up 2.47% (very impressive that one, by the way)
Panama up 0.57%
Venezuela up 1.14%
Colombia up 0.26%
bermuda and jamaica up too, though they’re teeny tiny and don’t really count
Better? Ok, Canada too… but at least some people consider Quebec part of Latin America.
.
Vive le Québec libre!
Bloomberg misses very little, and is right more often than most financial people. The question should be, : “why is Mexico’s economy in such a strong position ?”
The simple answer is Mexico has not borrowed way beyond its’ means. The real reason is that at the time of the “peso crash” cica 1993, Mexico had a lousy credit rating.
The one good, or bad, your point of view, “thing” is that Fox and Calderon have vastly improved Mexxico’s credit rating.
Note: Too bad about mr. Slim losing 8.6 Billion on the market adjustment, will he notice?
Bloomberg has been on fear-mongering campaign concerning Mexico for the past few weeks. He was recently on Morning Joe warning that a vast majority of college graduates were heading to Mexico to find jobs since their unemployment percentage was lower than the United States. A blatant lie.
I’m not exactly sure what his agenda is concerning immigration/Mexican superiority but I’d take everything he said about Mexico with a grain of salt.
I’m not suprised. The whole nature of the American economy and society as a whole is about living in fear of everything, America seems like it is teetering on the brink of total collapse much like the Soviet Union. It’s just strange watching it go through these phases. But I believe if you look at the Mexican economy it’s largely successful because it’s a cash society that is about living around their means whereas in America (US of A) it’s about living above your means as individuals and as a society!