Posted on 01/28/2010 12:29:01 PM PST by SwinneySwitch
MEXICO CITY — Money sent home by Mexicans abroad plunged a record 15.7 percent in 2009 as migrants worldwide struggled to find work during the global economic slowdown, the central bank reported Wednesday.
Remittances — Mexico's No. 2 source of foreign income after oil exports — totaled $21.2 billion in 2009, compared with $25.1 billion in 2008, the bank said.
Since the bank began tracking remittances in 1996, it has recorded just one other annual decline — a 3.6 percent decrease in 2008, as the world financial crisis exploded.
Central bank president Agustin Carstens attributed the latest drop to the weak economy in the United States and the increased difficulty Mexicans are having securing employment there. More than 11.8 million Mexicans live in the U.S.
Carstens said a 1.3 percent uptick in remittances in December, compared to the previous month, gave some hope for a recovery.
"It is just one figure, but it could indicate the beginning of a relative stabilization in the drop in remittances, and it would be congruent with the fact that economic activity in the United States is about to go from negative to positive," Carstens said.
An analyst was less optimistic, saying that employment levels in the United States "remain very bad" and remittances to Mexico will probably continue to decline through the first half of 2010 when compared to the same period of 2009.
"It is important to remember that many Mexicans are employed in very volatile sectors that remain depressed, like construction, manufacturing, restaurants," said Hector Rodriguez, a researcher at the Graduate School of Public Policy and Administration in the northern Mexico city of Monterrey.
(Excerpt) Read more at mysanantonio.com ...
Send them home. They are bankrupting America along with other illegals.
They say 1 million have already left CA...not sure where they went!
Send them home. They are bankrupting America along with other illegals.”
AMEN.
However, this threatens to further destabilize the government of Mexico, so they mobilize their army at the border to prevent their return, in effect forcing the U.S. to continue caring for them.
ping
21 Billion? That’s still being sent out of this country during a deep recession? There is over 10% unemployment here, anyone that suggests we allow illegal to become legal is certifiable.
A lot of them have come to Utah. Better employment chances, less enforcement, and they can get a DL.
A couple forgotten quotes by SEn. John McCain:
Give everyone in the world an opportunity to come to America
“Those who live closest are the ones who can get here. Everyone in the world should have the opportunity through an orderly process to come to this country.”
Source: AZ Senate Debate, in Tucson Citizen Oct 16, 2004
Change rule barring immigrants from running for president?
Q: Should we change our Constitution to allow men like Mel Martinez, born in Cuba, and Arnold Schwarzenegger, born in Austria, to stand here some night as candidates for president?
McCAIN: He and I have many similar attributes, so I have to seriously consider it.
Source: 2007 GOP primary debate, at Reagan library, hosted by MSNBC May 3, 2007
http://www.ontheissues.org/Celeb/John_McCain_Immigration.htm
Was it Domestic Enemies: The Reconquista by our own Travis McGee? I haven’t read it yet, but it is on my “to do” list.
The real estate boom is over. Pack up your tools and go back home
McCAIN: He and I have many similar attributes, so I have to seriously consider it.
Both these guys were complete zeros in public office
Martinez is a money grubbing lawyer and left the US Senate to make the big big bucks with his new expanded Rolodex of high powered contacts he met while US Senator
Ping!
A great post AuntB !!! Thank you. I’m going to re-post it on FB.
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Open borders advocate Juan Hernandez has joined the McCain campaign [history lesson]
McCain: Amnesty Opponents A 'Party of A$$holes'
Obama says 'yes we can' to immigration reform (Barf bag required)
Dems reach out to Lou Dobbs to build backing for immigration reform
Welcome to America.
Now go home.
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