Wednesday, March 17, 2010

Mexican Peso - Something Good Must Be Happening

I went into town today to visit the cardiologist. He has me strapped up to a monitor for 24 hours so he can determine what and how much medication I should be taking for elevated blood pressure.

I passed many banks along the way and the dollar is quoted at 12.75 buy and 12.25 sell. La Bolsa Mexicana (Mexican Stock Exchange) is at record highs looking like it may reach 33,000 points by Friday.

Talk to people on the street and we are living in a financial crisis. However, they don't realize what the U.S., Greece and other countries are going through. I really believe it hasn't or didn't hit Mexico as hard as people believe. We always look for the worst. Problem is, most people aren't educated enough to see the signs of a good or bad economy and appreciate the level and quality of life.

I was having a discussion with one of the construction workers who is working next door building a wall. He bought a car and the plates are still from 2005. He asked me why they haven't paved my street yet. I told him because he didn't pay his tag renewel and neither did the previous owner. I had to explain to him how the system works. But, this guy has never paid a peso of tax in his life becuase he always works under the table, unless it was sales tax on a product he bought. He can't grasp the concept of taxation in relation to public works, infrastructure, etc.

So you may be wondering how he drives around without getting caught. He doesn't. He never goes outside of our local rural area and he knows the 8 or so transit police we have so they never stop him. Anything to avoid paying for his plates and use of his vehicle. Don't even ask if he has insurance.

If truth be told, many people think the government just makes money when it needs it.

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