Forum Discussion
moisheh
Oct 27, 2018Explorer
All 3 of the NAFTA nations are having problems. Some political some not. I will try to stay away from the political problems but it is hard! AMLO is having trouble with Pemex. He has pledged to get rid of dead weight in the government and lower their wages. Pemex has almost the same number of active employees as retirees. Something like 125,000 to 105,000. Those retirees cost around $1800 USD a month each!!! Mexico has stated they will not sign the new trade agreement unless tariffs are removed. Canada agrees. Trump needs to keep the tariffs for political reasons. When the signing date comes on Nov.30 nothing may happen. In the meantime the auto mfrs. are holding off on any big changes. Ford in HMO has not rehired the laid off personnel. Some of the proveadors ( feeder plants) have closed and moved away! I wont get into the US problems as it is mostly political. But the economies of all 3 nations have serious difficulties to overcome. Instead of printing larger notes maybe Mexico will just do as before and devalue the currency!! (Just kidding, that won't happen). How ever I sure would not invest in Mexico right now. That would include business investments or a new house.
Moisheh
Moisheh
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