Boots & Sabers

The blogging will continue until morale improves...


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1135, 08 Jun 24

Mexico Continues to Slide

The Socialists continue to push Mexico into financial oblivion. This is why they support allowing their criminals and poor to cross into the United States. They need the inflow of money from expats and the outsourcing of social welfare to the American taxpayers.

But most worrisome to markets is that López Obrador’s Morena party won a two-thirds majority in Congress, which would allow them to pass changes to the Constitution, like the judicial reform, as well as mandates for a series of yet-unfunded government benefit programs.


López Obrador pledged Friday to continue to press for 20 constitutional changes, including one that would undo the country’s current system of individual retirement accounts and the elimination of most independent government oversight and regulatory agencies.


Sheinbaum has spoken by phone or in person this week with officials from the World Bank, the International Monetary Fund and the head of the BlackRock investment company, after the peso plunged and the stock market briefly dipped on Monday.


1135, 08 June 2024


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