Thursday, January 27

OVER $15 BILLION SENT HOME TO MEXICO

Read this and you get a better idea of why Presidente Vicente Fox is doing this -- publishing a "How To" guide on circumventing U.S. immigration laws. There have even been reprints published it's become so popular among those in Mexico contemplating illegal entry into the United States.

Fact is, money sent to Mexico from its migrants working in the United States is that country's second largest source of revenue, second only to that generated by oil exports. And it goes without saying that a lot of that $14+ billion sent home in 2004 was money earned by illegals working in this country. Moreover, Mexico leads all countries of the world in the volume of remittances received from its migrants. Remittances from the U.S. are integral to its economy. Indeed, remittances have a more favorable impact on Mexico than NAFTA. And they far outstrip foreign aid received from the United States, but then that continues unabated as well, so the more dollars the better from Fox's point of view, as he continues to outfox George Bush.

Now el Presidente has taken it up another notch. He's developed "Invest In Mexico" and "Adopt A Micro-Region" programs to encourage Mexican immigrants in the United States to invest their money in small businesses across the border in Mexico, not only to draw investment capital into his country, but to develop an additional business base which can be taxed. The small businesses will also shore up flagging economies in certain states in which incentives are provided. The Mexican government even provides assistance in researching and writing business plans, and in guiding its migrant workers in the United States through the process of starting a business in Mexico.

We're being outwitted here in the States. The government of Mexico is laughing all the way to the bank.