Posted on 05/21/2005 12:15:04 PM PDT by FreedomSurge
Large Providers of Funds
Immigrants and the Shipments of Money
International flows of money no longer are simply the province of large international investors but also of modest immigrants, who cent by cent send resources to their families. Waiters, tradesmen and cleaning personnel who have emigrated to developed countries star in this new movement that has possibly sent 45 billion dollars to Latin America and the Caribbean in 2004.
Remittances, a good business
The remittances extensively are recognized as indispensable for the survival of millions of families and the welfare of many national economies in Latin America and The Caribbean", indicated the Multilateral Fund of Investments (FOMIN).
In the last year Latin-American immigrants remitted more than 45 billion dollars to the region, that was transformed into the greatest beneficiary of remittances in the world.
The figure surpasses official development aid and, in some years, has surpassed even direct foreign investment, that in 2004 elevated to 56.4 billion in Latin America, according to the Economic Commission for Latin America and the Caribbean one (CEPAL).
The United States is the main transmitter, with two thirds of the total, although Latin American workers also send money to the subcontinent from European countries and from Japan.
After the attacks of September 11, many immigrants have determined to travel to other European countries, say sources inside FOMIN.
The so-named remittances move millions throughout the world each year. Asia has known them for decades now and in Latin America they are in full "boom".
Included are some Central American countries which incorporate the inflows into their public budgets
In recent years they helped to balance the current account of the balance of payments of various governments and mitigated the effects of poverty because many of the poor are at present immigrant that send money to their families.
The only good argument for illegal immigration (and I rarely see it proposed) is that without the remittances all of the countries south of the border would go into collapse and then into revolutionary mode. 45 Billion is mucho dinero.
Ping
without the remittances all of the countries south of the border would go into collapse and then into revolutionary mode.
Can you imagine how hot the US economy would be if even half that money stayed here?
In case it has escaped your attention, we are on the verge of a bloody revolution right here in the good ol' US of A. People who tried to foment riots in the 60s and 70s are now in a position to enforce their politics...look at the new mayor of Los Angeles.
Protect our borders and coastlines from all foreign invaders!
Be Ever Vigilant!
Minutemen Patriots ~ Bump!
BTTT...sad, but true. It's not JUST CA's problem, folks. Be VERY aware of what's going on.
Or the corrupt governments would collapse and the citizens might look for something better. Remittances prop up corrupt governments and are a stealth way for the US government to say they approve of the corrupt governments of the countries that receive them. If the US wanted to, we could stop remittances in a heartbeat, but how else would we bribe these corrupt governments into signing the "free trade" agreements we are putting out?
I thought it was going to say we send them that gratis. I'm not really in agreement with all that tax-free (you know it is) cash leaving the country, but I certainly prefer that they did something to get it rather than the government just pipelined it south.
One word: Bring them on.
I know I need to get a few cases of ammo, just in case I have to defend the casa, but I never seem to get around to it. I better get a few more clips too. I can't be speed loading with brigands at the gate.
I disagree slightly with this characterization. The remittances don't prop up the corrupt governments, instead they prevent the conditions ripe for revolution from developing.
I don't know how the US would be affected if a wall across the southern border were erected and remittances were stopped. The result would be red and pink revolution to the south. I have a suspicion that on a net basis it would be in the best interests of the US. But I don't know. I haven't given it enough thought.
I'd get it before summer. Seriously...go forth and shop. Support your local range/sporting goods store.
Oh, really? And this is based on what reasoning?
These transfers hurt the US economy more than you know, and it is a relatively recent development. These countries survived before, and now that most of them are democracies they are in a better position to survive and flourish if the cash infusion that stifles any incentive to actually Work were removed.
Its a fool's bargain. We get the (mostly illegal) immigrants AND we get to support their extended family back home. If the illegals spent their money here, at least we would derive the benefit of the increased economic activity. But with the money leaving the country all we get is a balance of payments problem. Further, it just drives up prices in the economy of the south American countries where the money is sent, making it harder for the rest of the population to cope, and so we get more illegals.
If you are not legally IN the country, why should you be able to transfer funds OUT of the country? Got a valid green card? Fine - knock your self out. Got a valid financial holdings, whether from legal in-country work or by foreign investment? Go for it!. But sneak across our borders, and the money should stay here.
You're referring of course to Antonio MECHAgairosa...?
Chur, mon. Dats a lotta tacos.
I can't imagine them calling the National Guard on themselves, can you?
That is one of the reasons why I believe there would be a large net benefit to the US for eliminating illegal immigration. All I am asking on this thread is does it matter significantly to the US what happens to Latin America. I think they are heading pink anyway so I don't think there would be any great loss. But I don't know. I just started thinking about the problem.
Maybe they need to go through the revolution mode, provided they overthrow the corrupt governments and establish democatic, capatilistic systems.
You certainly DON'T know.
There is no reason to think that the South Americans want to emulate Cuba just because someone stops sending them cash. These people aren't idiots.
They are far more likely to throw out the buffoons like Fox and get a government that actually knows how to empower private enterprise and remove the barriers to free trade and entrepreneurship. They pay high taxes there too, and they therefore know more handouts are not the solution.
Your assumption that removal of transfers leads to some form of communist take over is thinking that would be more at home on DU. It just doesn't work that way. People there want a life, not an allowance.
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