MP Mexico News Staff
Mexico, the country of great mystery, continues to stump the money pundits. Projected to catch a cold from the pneumonia epidemic to the north, the current economic numbers portray a relatively healthy population. However, one quote from this LATimes story baffles the MP News Staff, who are admittedly not money-savvy observers.
Here is the quote:
“Economists see Mexico weathering a possible recession this year in the U.S., as expanding credit allows consumers to spend more.” Huh? Isn’t that exactly what got the U.S. in this recession in the first place; subprime loans where anyone who could fog a mirror was approved for whatever amount they wanted? Didn’t we learn in the 1980’s that an economy fueled by borrowed money was a house of cards waiting for a stiff wind?
Whatever, it’s good that Mexico stands on its own and not totally dependent on America’s fortunes. Here is the piece from the LA Times: