Wednesday, January 15, 2025
The peso is falling
Back in the summer of 1982, I was working and living in Mexico. It was a wonderful experience, and I learned something about Mexicans. Don’t tell them that the peso is falling because they will give you that look, if you know what I mean.
To be fair, 2025 is not 1982. That was the year that a bunch of currencies experienced devaluations, especially Mexico. Things got so bad that even Paul McCartney decided to write a song about it:
The pound is sinking, the peso’s falling
The lira’s reeling and feeling quite appalling
I don’t remember anything about lira reeling or the pound sinking. I do remember UK ships heading to the Falklands.
Anyway, down in Mexico the peso is falling. This is the story:
The Mexican peso depreciated against the US dollar for a fourth consecutive trading day on Monday, according to end-of-day exchange rate data from the Bank of Mexico (Banxico).
The peso closed at 20.72 to the greenback after ending Friday at 20.70 to the dollar, Banxico data shows.
Why does this matter? A weak peso means that dollars are more expensive. It also highlights the importance of remittances, currently $ 60-plus billion.
We talk about tariffs, but it’s remittances that allow President Trump to negotiate with Mexico. What if we put a tax on those and use that money to pay for the border or to compensate victims of fentanyl?
The other thing to remember is that a weaker peso is an indication of concerns south of the border over the economy. Presidenta Claudia Sheinbam has made a big deal about the local economy, but Mexicans are not convinced, or at least the ones that I hear from.
According to The World Bank, Mexico’s GDP will grow 1.5% in 2025. That may be growth, but not the number Mexico needs. According to the report, Mexico is not taking advantage of the nearshoring trend or taking advantage of its proximity to the U.S.
So the peso is falling and that’s never good, unless you are a tourist and going to Cancun.
P.S. Check out my blog for posts, podcasts and videos.
The peso is falling - American Thinker https://t.co/GF8SrvVsLz
— Silvio Canto. Jr. (@silvio_canto) January 15, 2025
January 2014: Mandy Nagy shares her Obama Care story
We talk Obama Care with Leslie Eastman & Mandy Nagy......
— Silvio Canto, Jr.
The Battle of Gettysburg 1863 with Barry Jacobsen
CLICK THE LINK TO LISTEN:
Guest: ........Barry Jacobsen, military historian and blogger, will remember The Battle of Gettysburg 1863, one of the defining moments of the US Civil War...We will look at General Robert E Lee and some of the other military commanders......President Lincoln and the North...........Jefferson Davis and the South....he wrote a recent post about Civil War.......we will also look at the movement to delete Confederate symbols........
January 1972: The Bee Gees and "My world"
They had just hit # 1 in the US with "How can you mend a broken heart" and sold millions with 'round the world best sellers like "Lonely Days", "I started a joke" and beautifully arranged tunes like "Holiday".
Like many of their fans, I kept up with the group's news on the radio. We did not have Internet or e-mails back then to warn us of new releases.
"My world" was so catchy that it stuck with me as soon as I heard it on the radio. I think that I learned the melody & lyrics in minutes.
I went to my favorite store and said to the manager: "How about that song by The Bee Gees that goes "my world is your world and your world is my world....."
He gave me the 45 and said "Here it is"! (By the way, those were the days when you had small record stores and proprietors who actually knew their inventory)
Then it was off to home and the turntable.
It became a huge international hit. It was great! I love the way that they harmonize the chorus!
The B-side was "On Time" with the late Maurice doing the lead vocals. I was glad that both of these songs were included in the "Tales from The Brothers Gibb" box set released in 1990.
Of course, no one knew that day in 1972 that Barry, Robin & Maurice were just getting started. By the end of the 1970's the brothers were one of the best selling bands in the world. At one point, they had six # 1 songs in a row. They also wrote and produced albums for Dionne Warwick, Barbra Streisand and Diana Ross. Add Andy Gibb and you had a ton of record sales for the very talented brothers!
You can buy "My world" here. This is "Best of Bee Gees, volume 2", an album released in the US in 1973.
1966: “We can work it out" was # 1 this week
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The A-side was "We can work it out"/ The B-side was "Day Tripper".
Both songs were included in the "Yesterday and Today" LP but in the US. You can also find them in "Past masters" or "1962-66".
January 15, 1967: Green Bay beat KC in Super Bowl I
Frankly, I don't remember when they started calling it the Super Bowl. Nevertheless, I remember this game on TV.
Green Bay was a superior team and it showed on the field. KC was also a great team but the day belonged to the Packers. (I should add that KC came back to beat Minnesota in Super Bowl IV).