Precisely.
Posted on 12/17/2004 12:47:05 PM PST by JustAnotherSavage
DOBBS: Tonight, an estimated 15 million illegal aliens live in this country, at least half of them from Mexico. Many are here because they chose to flee crushing poverty in Mexico.
But, in point of fact, Mexico is one of the richest countries in Latin America, amongst -- the millionaires, billionaires and its wealth concentrated in the hands of very few.
CASEY WIAN: They sneak across the border seeking jobs they can't find in Mexico. The question isn't why they come, it's why can't Mexico's economy support its own people.
Nearly half of Mexico's population lives in poverty. Ten percent are indigent, existing on a dollar a day. Yet the nation has vast wealth. Mexico has more "Forbes" billionaires, 11, than all but eight other nations. It has more billionaires than Saudi Arabia, Switzerland or Taiwan. It also has more than 85,000 millionaires.
GEORGE W. GRAYSON, OF WILLIAM & MARY: There is a small economic elite who live like maharajas, and there's a political elite that protects them. Our border provides an escape valve which really lets the Mexican political and economic elite off the hook in terms of providing opportunities for their own people.
WIAN : About 10 percent of Mexico's 105 million people live here in the United States. They're called national heroes by President Vicente Fox because this year they'll send home about $16 billion,***** more than any Mexican industry except oil.******
Mexico's outdated tax system is plagued by widespread tax evasion. It collects taxes at less than half the rate of the United States. As a result, Mexico's public-school and health-care systems suffer.
WIAN: Meanwhile, the gap between rich and poor is growing. So Mexico continues to export one of its most valuable assets, people.
snip-------
(Excerpt) Read more at transcripts.cnn.com ...
A meaningless statistic and title. China has more billionaires than Sweeden. So what. Mexico has ten times as many people as Saudi also.
Yes, but those are in Peso's. ;)
Just more populist idiocy.
The rest of this transcript is worth the read. Must go now and meet a client. Have a good day.
DOBBS: The invasion of illegal aliens into this country is one of several threats to our wealth, our standard of living, our quality of life. Another is our exploding trade deficit and the rising export of American wealth overseas. The trend is beginning to discourage if none at home, some at least in foreign countries who are investing in this country.
Lisa Sylvester reports from Washington.
(BEGIN VIDEOTAPE)
LISA SYLVESTER, CNN CORRESPONDENT (voice-over): The current account balance reflects what Americans earn and what they spend, including trade and international investment. The picture is not very pretty.
The United States last made ends meet in 1991 with a $10-1/2 billion surplus. Since then, the current account balance has been freefalling. The current account deficit for the last three months alone reached a record $164.7 billion.
To put that number into context, that's larger than Portugal's entire economy. Economists say we may be headed toward a day of reckoning.
CATHERINE MAIN, INSTITUTE FOR INTERNATIONAL ECONOMICS: Right now, basically, the entire deficit can be accounted for by the trade deficit in consumer goods and automobiles.
SYLVESTER: Americans are on a spending spree, but they're not buying American goods. So the money to finance the buying binge has come from foreigners.
China and Japan are the largest foreign holders of U.S. Treasury securities, but foreigners are increasingly growing skittish because of the large U.S. trade and budget deficits.
So seal the borders and let the billionaires over in Mexico solve the problems there. The ones we have here in the states keep thinking they can solve ours...
10% of Mexico is living in the USA, are you suggesting we take that number from all countries illegally?
Precisely.
Here's a little example. In two years the US is changing the broadcast standard for TVs. Most of the country will be buying HDTV's between this Christmas season and January 2007. How many of those sets will be manufactured in the US of A. None!
Mexico has a population of 105 million. Saudi Arabia has a population of 26 million.
Mexico's GDP is about $1T. SA's is about $300B.
So Mexico's population is only 4 times the size of SA's and their economy is only 3 times the size of SA's.
I only point out that the title is silly and a useless fact.
You need to use per capita billionaires for a comparison.
I said nothing about immigration at all.
Perhaps meaningless. But maybe not. For example:
Midland, Texas has more billionaires than Houston and Dallas combined.
Glad your numbers are accurate, I was just guessing.
One more thing:
People
Nationality: Noun--Saudi(s). Adjective--Saudi Arabian or Saudi. Population (2003 est.): 24.3 million (18.7 million Saudis, 5.6 million foreign nationals).
If you discount foreign nationals, I suspect the ratio is more like 5.2 to 1 and not 4 to one.
Another silly and useless fact, there are more white people on welfare than black in the USA (not per capita rates, just total numbers).
Don't forget that half the men in prison are black.
No, wait. . . .
For reference: 1M Mexican Pesos = $88,548USD (as of 12/14/2004)
It's s double edged sword. Historically, Mexico has been more feudal and less bourgeois than the US. The downside is that middle class is not well developed. There is less of a supportive environment for start ups and indigenous major companies; those with wealth have little interest in being big business people or in supporting start ups. There is only a very small venture capital system. The upside is, people are more religious and more family oriented. No doubt, the power of the Roman Catholic Church plays its role. Overall, Mexico has a less debauched culture than the US. If Mexico is to truly shine economicially, somehow those with assets need to be convinced to invest them in native major businesses. An entrepreneurial group needs to be developed more.
Since when did Mexico start a "strong Peso" policy? 8^)
Good article. Reforming Mexican government ought to be near the top of our foreign policy agenda.
Feudalism is a worldwide problem including the US, although feudalism is less in the US than anywhere else.
Microsoft is one of the best examples of the rich trying to destroy all competitors. That is what happens in Mexico. If you start becoming successful, the established order will try to smack you down. It happens in the US and everywhere really, but Less here than anywhere, which is why we always have the best economy in the world.
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