Thread: Mexican remittances tumble 36 percent

Mexican remittances tumble 36 percent

Associated Press
December 1, 2009

Largest monthly drop in October since records began in 1996

MEXICO - The money Mexican migrants sent home fell nearly 36 percent in October compared to the same month last year, Mexico's central bank said Tuesday. It's the largest drop since records began to be kept in 1996.

The Bank of Mexico says Mexicans abroad sent home $1.69 billion in October 2009, nearly $1 billion less than October 2008.

Statistics published on the bank's Web site Tuesday indicate migrants sent $18.1 billion in the first 10 months of 2009, a 16 percent drop from the same period last year.

Remittances sent by migrants have been Mexico's second largest source of foreign income, falling only behind oil exports.

Bank officials have said remittances are declining because of the U.S. economic downturn, particularly in the construction market.

http://www.msnbc.msn.com/id/34223186/ns ... _business/

If the remittances that have gone to Mexico in the past had remained here, helping our local, state, and national economy, we would be billions more to the good in the United States.

Mexico talks rude about us, all the while receiving billions in compensation for the illegal alien citizens that they so whole heartedly support in their illegal entry. Their citizens shout and rail against the United States while here, and then take money from illegally obtained jobs, stolen identities, and fraud to send back to their corrupt nation.

Mexican citizens need to work to fix Mexico, not to drag us down, and to change us into Mexico.

Psalm 139:14

Good, now tax the other 64%