HGs World Commentary
Commentary by H.G. Listiak
Immigrants Send Money Back To Mexico


Thursday 08/07/2003

Welcome to my world, where I'm bothered by recent figures from the Bank of Mexico. In the first six months of this year, immigrants, at least a quarter of them without legal status, have pumped over 6.13 billion dollars into the Mexican economy, a rise of 29% from this same period last year. It's money sent home by Mexican workers, earning the Yankee dollar, and sent to be spent in Mexico by friends and families south of the border. Mexican bank officials felt that the surge will gain even more gusto by the end of the year, as dollars drain into Mexico as fast as their immigrants, some legal, some not, drain into the United States. The current surge, according to Javier Favito the head of a state run bank in Mexico City, comes from higher immigration and technology, with 85% of the total transfers made electronically. He says every month is a record high and he expects the figures to zoom even higher every month as we here in the U.S. are led to believe that these immigrants are starving and need welfare and medical care. So with all this going on, made even worse by constant encouragement from officials like Governor Janet Napolitano, to continue this glut of immigration coupled with the jobs that have been lost to Mexico by greedy corporations, just what do you think this is doing to our own American economy??? I'm not sure, but I do guarantee you one thing Amigo, it ain't helping, as I see it, I'm H.G. Listiak.



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