Saturday, April 09, 2022

They call it 'inflacion' south of the border


(My new American Thinker post)

I was speaking with a Mexican friend on the phone and complained about our gasoline and food prices.  He laughed and told me to look south of the border for more inflation.   I did look and my friend is right, as I see in this post at Pulse News Mexico:   

According to the National Institute of Statistics and Geography (Inegi), inflation in Mexico hit 7.45 percent in March, its highest level in 21 years.

The annual inflation rate for the third month of the year was higher than the 7.28 percent reported in February, and exceeded the 7.38 percent forecast by the Bank of Mexico (Banxico).

The Inegi said that the inflation was blamed mainly on higher fuel costs, as well as increases in the price of air transportation, eggs and corn tortillas.

It sounds familiar does it not?  Fuel costs? Transportation?  Eggs?

What makes inflation in Mexico scary is that it usually affects the "peso."  I remember massive devaluations in 1982 when inflation in the U.S. went south and tore apart the economy. We started that year around 26 pesos to 1 dollar, then it jumped to 85 by summer and then 176 by Christmas.   It was 3,000 to 1 dollar in 1994 and then they changed the currency by eliminating the three zeros.   So 3,000 to 1 became 3 to 1.

The exchange rate today is 20.1851 per 1 U.S. Dollar and floating in the wrong direction.   

Peso devaluations are a big deal in Mexico.  The locals take it out on the current president as they did in 1976, 1982 and 1994.  Will they take it out on President Lopez-Obrador?  They probably will!  Also, devaluations drive a lot of people north looking for economic stability.

Inflation in Mexico has a lot of unintended consequences.  Did you some say Title 42?

P.S.  You can listen to my show.  If you like our posts, please look for ”Donate” on the right column of the blog page.

Happy # 76 Nate Colbert




Image result for nate colbert images
We say happy birthday to Nate Colbert who was born in St Louis, MO, on this day in 1946.    

Colbert came up with the Astros but got a chance to play with the 1969 expansion San Diego Padres.   

He became one of the NL's top power hitters:   163 HR over 6 seasons with San Diego.    

In 1975, he was traded to Detroit but his career was over at age 30.    He retired with 173 HR & 520 RBI.
 
P.S.  You can listen to my show.  If you like our posts, please look for ”Donate” on the right column of the blog page.
 





World War II: The winter of 1942-43, Manstein's Miracle in Russia, and Patton







Guest: Barry Jacobsen, military historian and blogger.............we will continue our series of World War II episodes... Today we will look back at the winter of 1942-43, Manstein's Miracle in Russia, and the Rise of Patton .......................

Click to listen:

P.S.  You can listen to my show.  If you like our posts, please look for ”Donate” on the right column of the blog page.



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