US Economy Hick-up Taking Down Mexico's Emerging Middle Class

Most of the 35-million illegal immigrants, as well as the legally working migrant workers and many now US Citizens send money back to Mexico. At one point there was some 15 Billion Dollars a quarter going back. Each week workers would wire money back to their families.

These families might use this money to start a local shop or business in town and improve their lives. No matter what you think of all this, it credit cards purchases assisted in increasing the Mexican Middle Class in Mexico, but as the US economy slows, so too are those money flows into Mexico. Perhaps you may not realize how much money was moving across the border, or even how much still is even with the slow down.

Did you know that the Catholic Church encouraged folks to come to the US illegally or legally to work and send money back to help the communities and families who would then give 10% tithing, thus the Catholic Church was one of the biggest winners in all of this along with Mideastern Union, Wells Fargo and B of A which had specially services to send the money back. Also understand that Fox and other major politicians asked able bodies to go to the US and send money back?

Why, well there are some 5-million homeless outside of Mexico City, that costs money, send them to the US, a perfect solution for Mexico, not so good for us. Now that the US economy is turning, all of a sudden all those needed workers for the construction industry etc. are not needed.

The Mexican workers know this too and many are voluntarily going back to Mexico, as the sentiment is becoming adversarial since they are taking away US citizen jobs. This was completely predictable; we talked about it 4 yrs ago at the Online Think Tank.

"Lance Winslow" - Online www.bloggingcontent.net/Blog Content Service

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