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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Trump bitch slaps Mexico into submission
Posted by:
How much that wall again mang?
()
Date: January 11, 2017 08:44PM
Investors Bolt Mexico as Peso Enters Free Fall
By IRA IOSEBASHVILI and ROBBIE WHELAN
Updated Jan. 11, 2017 6:34 p.m. ET
Global investors are fleeing Mexico’s financial markets, sending the peso to record lows on mounting concerns that Donald Trump’s trade policy could end the country’s privileged status among developing countries.
The peso on Wednesday tumbled to another all-time low against the dollar as Mr. Trump pledged to change U.S. trade policy with Mexico. “Mexico has taken advantage of the United States,” he said during his press conference. “It’s not going to happen anymore.”
The Mexican currency weakened 0.3%—at 21.8609 from 21.8009 late Tuesday—again frustrating Mexican central-bank efforts to slow the currency’s decline. Bank officials said Tuesday that they spent $2 billion last week to prop up the peso, which has weakened 16% against the dollar since the U.S. election.
The selloff underscores fears that the economic gains Mexico has made over the past two decades could reverse, as the incoming Trump administration takes a confrontational stance that could bring tariffs and border-control measures that once appeared unthinkable.
The North American Free Trade Agreement, which in 1994 created a free-trade zone among Mexico, the U.S. and Canada, cracked open the American consumer market to Mexican businesses in a way no other emerging market has ever enjoyed. Nafta has also brought relative stability to the peso after a series of currency crises, a crucial factor in reassuring foreign buyers of Mexican bonds and other assets.
Now, that advantage could be in jeopardy if Mr. Trump follows through on pledges to renegotiate the agreement. Mexico’s benchmark stock index has dropped 5.2% since the U.S. election through Wednesday. Yields on 10-year Mexican government debt, which move in the opposite direction of price, jumped to 7.689% from about 6% before Mr. Trump’s victory. Mexican asset prices could come under further pressure in coming weeks, analysts and investors said, as the administration’s nominees to government positions spell out their positions in testimony before Congress.
“A renegotiation of Nafta would basically kill Mexico’s growth model,” said Juan Carlos Rodado, director of Latin American research at investment bank Natixis. “This would be very bad for investor confidence.”
By IRA IOSEBASHVILI and ROBBIE WHELAN
Updated Jan. 11, 2017 6:34 p.m. ET
Global investors are fleeing Mexico’s financial markets, sending the peso to record lows on mounting concerns that Donald Trump’s trade policy could end the country’s privileged status among developing countries.
The peso on Wednesday tumbled to another all-time low against the dollar as Mr. Trump pledged to change U.S. trade policy with Mexico. “Mexico has taken advantage of the United States,” he said during his press conference. “It’s not going to happen anymore.”
The Mexican currency weakened 0.3%—at 21.8609 from 21.8009 late Tuesday—again frustrating Mexican central-bank efforts to slow the currency’s decline. Bank officials said Tuesday that they spent $2 billion last week to prop up the peso, which has weakened 16% against the dollar since the U.S. election.
The selloff underscores fears that the economic gains Mexico has made over the past two decades could reverse, as the incoming Trump administration takes a confrontational stance that could bring tariffs and border-control measures that once appeared unthinkable.
The North American Free Trade Agreement, which in 1994 created a free-trade zone among Mexico, the U.S. and Canada, cracked open the American consumer market to Mexican businesses in a way no other emerging market has ever enjoyed. Nafta has also brought relative stability to the peso after a series of currency crises, a crucial factor in reassuring foreign buyers of Mexican bonds and other assets.
Now, that advantage could be in jeopardy if Mr. Trump follows through on pledges to renegotiate the agreement. Mexico’s benchmark stock index has dropped 5.2% since the U.S. election through Wednesday. Yields on 10-year Mexican government debt, which move in the opposite direction of price, jumped to 7.689% from about 6% before Mr. Trump’s victory. Mexican asset prices could come under further pressure in coming weeks, analysts and investors said, as the administration’s nominees to government positions spell out their positions in testimony before Congress.
“A renegotiation of Nafta would basically kill Mexico’s growth model,” said Juan Carlos Rodado, director of Latin American research at investment bank Natixis. “This would be very bad for investor confidence.”
Re: Trump bitch slaps Mexico into submission
Posted by:
True the Vote!
()
Date: January 11, 2017 08:57PM
Fun fact..Mexico has oil but can't refine it. Guess who can refine and use that revenue to fund a Great Wall? Hey Gerry, shout it out if you know the answer. The bitch slapping starts now, assume the position that you know so well.
Re: Trump bitch slaps Mexico into submission
Posted by:
Hee hee
()
Date: January 12, 2017 08:42PM
^^^ LOL
Re: Trump bitch slaps Mexico into submission
Posted by:
Gerrymanderer2
()
Date: January 12, 2017 08:48PM
That's great, lets celebrate bankrupting a neighboring country that has the 15th largest economy in the world and is one of our biggest trading partners. That's progress to Republicans.
Re: Trump bitch slaps Mexico into submission
Posted by:
G2 is a blabbering idiotmut
()
Date: January 12, 2017 08:53PM
Gerrymanderer2 Wrote:
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
Open boarders on your stupidity.
Attachments:
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
Open boarders on your stupidity.
Attachments:
Re: Trump bitch slaps Mexico into submission
Posted by:
ddeow
()
Date: January 12, 2017 09:04PM
Gerrymanderer2 Wrote:
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
For what narcotics and american corporations, and tourism, donkey show?
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
For what narcotics and american corporations, and tourism, donkey show?
Re: Trump bitch slaps Mexico into submission
Posted by:
HMNC
()
Date: January 12, 2017 09:07PM
Gerrymanderer2 Wrote:
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
Agreed. It is much more noble to let them bankrupt us. Immigration policies are racist! (except Mexico's)
America, the Great Satan!
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
Agreed. It is much more noble to let them bankrupt us. Immigration policies are racist! (except Mexico's)
America, the Great Satan!
Re: Trump bitch slaps Mexico into submission
Posted by:
Mexipwned
()
Date: January 12, 2017 09:12PM
Gerrymanderer2 Wrote:
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
80% of exports from that 15th largest economy are to the US.
About 1/3 of that 15th largest economy depends directly on the US.
About $25 billion/year of that 15th largest economy comes from remittances from the US, more than it makes from oil revenues.
-------------------------------------------------------
> That's great, lets celebrate bankrupting a
> neighboring country that has the 15th largest
> economy in the world and is one of our biggest
> trading partners. That's progress to Republicans.
80% of exports from that 15th largest economy are to the US.
About 1/3 of that 15th largest economy depends directly on the US.
About $25 billion/year of that 15th largest economy comes from remittances from the US, more than it makes from oil revenues.
Re: Trump bitch slaps Mexico into submission
Posted by:
UL'ed
()
Date: January 12, 2017 10:44PM
The haters say mexico's not going to pay for the wall. Trump isn't even sworn in yet and they are already paying.