Tuesday, June 11, 2024

It Has Been Written Before And It Follows The Recipe


The first order of business was to watch foreign investment pull out of the country based on fears of previous experiences with socialist dictatorships.  The super-peso is gone and we have seen the spiral effect of announcing the win of a socialist candidate.  

The chart for today looks great if you have dollars.  Those who benefit are tourists, ex-pats, and Mexicans who receive remittances from the U.S.  Exchange rate fluctuations affect a country's economy because they impact international trade. When the peso's value appreciates, that discourages exports — because Mexican goods cost more than they used to — and increases the demand for imports, which are now less costly.  Mexicans will be those who suffer from appreciation of the peso.

What puzzles most of us in the opposition is why people would vote for a president and a party that has aligned itself with Cuba, Venezuela, Colombia, Nicaragua, El Salvador, and others.  Can't people see the damage that those leaders have done to their countries, people, and economies?

The recipe for dictatorship is being followed to a tee.  We will see what happens next while the constitution takes a beating and receives up to 18 new reforms.  They might as well rewrite it, well, that's what they are doing.

We've been in San Miguel de Allende since last Friday.  The weather has been hot but not like it is in Monterrey.  The nights are windy and the temperature drops cooling the house down quite well.  We have two box fans we use to bring in air but at night it isn't needed.  I had to cover up last night.  

We're leaving tomorrow for a few days in Guanajuato.  Believe it or not, we only know the city from work-related trips.  I booked two nights in a beautiful house in a gated neighborhood at an excellent price.  We are anxious to get on the road.

Our friend and yours, Les Pearson, had a knee replacement.  We live just five blocks from his house so we offered to give him a hand when needed, running a few simple errands and taking him to his doctor.  He is recovering nicely.  Today he had his stitches out and is walking quite well.  


  1. I think the graph shows it takes more pesos to equal a dollar, so the peso is actually depreciating relative to the dollar.

    1. That exactly right. We're headed down the rabbit hole of inflation and devaluation.