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Mexico Increasing Residency Income Requirements


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There is an old saying that goes something like this: "when the USA sneezes, Mexico catches a cold."  Think about the recent push by the US to bring as much money back into the country as possible.  Swiss banks being sued, FACTA, tax forgiveness for corporations, etc. There is literally billions of dollars leaving the US every year for the million, or so, retired expats living in Mexico.  It wouldn't surprise me to learn that pressure is being applied from NOB to send some folks back to the states.  One day it could become impossible to get SSI payments outside the country.   It could also be part of a response from the Mexican government to get back at the US for sending so many Mexicans back to this country who were there illegally. 

The whole issue is so complicated because huge amounts of money, national pride, cartel criminal activity, banking regulations, money laundering, illegal immigration, and corruption are all in play.  I'm guessing anything new that is being tried is some kind of compromise by both countries who are both unprepared to really solve the problem.  Like a big wall which would have no effect on drugs coming to the US or money and guns coming to Mexico or people overstaying visas in either country.  Nobody knows the answer or has a real solution.

Alan

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As usual, Alan, very good post.  In fact remittances from the U.S. by Mexicans working there is breaking all records and exceeds the value of manufacturing export earnings.  Remittances are now totaling north of 36 billion per year.  By contrast manufacturing brings in less than 30 billion, about the same money the cartels "earn" by selling dope to the degenerate Americans and Canadians NOB.

This whole financial situation for the U.S. is a house of cards IMO.  We are concerned we may outlive the time when it all comes tumbling down. 

This is not about politics, they are all in it up there.

 

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1 hour ago, barrbower said:

There is an old saying that goes something like this: "when the USA sneezes, Mexico catches a cold."  Think about the recent push by the US to bring as much money back into the country as possible.  Swiss banks being sued, FACTA, tax forgiveness for corporations, etc. There is literally billions of dollars leaving the US every year for the million, or so, retired expats living in Mexico.  It wouldn't surprise me to learn that pressure is being applied from NOB to send some folks back to the states.  One day it could become impossible to get SSI payments outside the country.   It could also be part of a response from the Mexican government to get back at the US for sending so many Mexicans back to this country who were there illegally. 

The whole issue is so complicated because huge amounts of money, national pride, cartel criminal activity, banking regulations, money laundering, illegal immigration, and corruption are all in play.  I'm guessing anything new that is being tried is some kind of compromise by both countries who are both unprepared to really solve the problem.  Like a big wall which would have no effect on drugs coming to the US or money and guns coming to Mexico or people overstaying visas in either country.  Nobody knows the answer or has a real solution.

Alan

I’ve become very cynical listening to all these pundits trying to explain why things occur in the financial markets. They are just like political pundits, each one trying to sway its readers into believing their agenda.  Only those high in elite circles know why things occur and which way the wind blows.

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31 minutes ago, Mainecoons said:

As usual, Alan, very good post.  In fact remittances from the U.S. by Mexicans working there is breaking all records and exceeds the value of manufacturing export earnings.  Remittances are now totaling north of 36 billion per year.  By contrast manufacturing brings in less than 30 billion, about the same money the cartels "earn" by selling dope to the degenerate Americans and Canadians NOB.

This whole financial situation for the U.S. is a house of cards IMO.  We are concerned we may outlive the time when it all comes tumbling down. 

This is not about politics, they are all in it up there.

 

There is speculation that the Cartels are laundry monies in remittances

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6 minutes ago, lakeside7 said:

There is speculation that the Cartels are laundry monies in remittances

There is also speculation that all this shopping that Mexicans do when coming across our border towns is a way of narcos taking their earnings back home.

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It would be interesting to balance that 36 billion in remittances against the taxes that Mexicans in the U.S. pay to the U.S. government. That is, if you can separate the remittances by the cartels out of it. On the other hand, why would the cartels even use that method.

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5 hours ago, Ferret said:

It would be interesting to balance that 36 billion in remittances against the taxes that Mexicans in the U.S. pay to the U.S. government. That is, if you can separate the remittances by the cartels out of it. On the other hand, why would the cartels even use that method.

Why do they use the "other" devious to trafect drugs?

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