Wednesday, June 03, 2020

Tear gas story and a better night across the country plus more stories

Tear gas story and a better night across the country plus more stories 06/03 by Silvio Canto Jr | Politics:

Media and the 'tear gas' on peaceful protests.....No more Chinese flights.......Twitter is playing with fire by selectively flagging tweets........Better night in New York.....and other stories......
click to listen:

Wednesday’s video: The “tear gas” and other lies

Trump WALKS to vandalized St. John's Church as riot police face ... 




No money to send home

The Expat Learning Curve: Managing your budget in Mexican pesos ...
For years, Mexicans have sent billions of U.S. dollars to their families back home.  It is a social safety net in small towns.  In fact, I recall a joke that two Mexican ladies were walking down the street and noticed that their neighbor had new windows.  And then one said to the other that her son lived in “el norte”.
According to a Fox report, remittances to Mexico were U.S. $36 billion in 2019.  In simple terms, that’s about 3% of their U.S. $1 trillion GDP.   For the sake of comparison, Mexico receives about U.S. $25 billion from tourism and U.S. $22 billion in annual petroleum exports.
It must have been a bit frustrating for Mexico to read that unemployed migrants in the U.S. have no money to send.   According to Erick Shneider, regional head for Latin America and the Caribbean with WorldRemit, they’ve noticed a drop.  (Via The San Diego Union-Tribune)
How long does this last?  It depends on how long the U.S. economy is down.
How will this hurt Mexico and other countries that depend on this monthly transfer?  It will hurt a lot.  At the same time, maybe the governments will finally come to terms with developing their own economies rather than depend on people abroad to “wire” cash.
P.S.  You can listen to my show (Canto Talk) and follow me on Twitter.

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