"I would never say President Obama doesn't have the capacity to continue to serve because of his (statement) that there are 56 states," Walpin said, adding that the same holds for Vice President Biden and his "many express confusions that have been highlighted by the media." Obama mistakenly said once on the campaign trail that he had traveled to 57 states.
Worse still, there's the remittance economy, which the government itself has encouraged to excuse itself from the kind of reform Ortiz urges. For the government, taking in some $2 billion in hard currency each month and getting rid of potential malcontents is a benefit. But for the economy itself, and the workers who need jobs, it's a bane. Legal workers in both countries are shed at lower rates than those who live outside the law, hence the drop in remittances. Dumping illegals on a dime always happens in a downturn. It not only leaves Mexicans more vulnerable in a downturn, it also deprives Mexico of its most enterprising base of talent. People who work illegally abroad cannot fully utilize their potential because only the invisible architecture of legalization can extract capital, as Hernando de Soto has noted. It's as true of illegals as it is of their money. The higher negative data on both oil and remittances suggest that whatever else may be going on, Mexico should reduce dependency on them. Mexico's central bank governor sees what is happening. It's about time Mexico's politicians took note too.
