As the U.S. Immigration Debate Rages On, Mexico's Economy Heats Up

Economics was never my strong suit but I gained a valuable lesson while traveling abroad. When I was handed 47 pounds in exchange for my hard earned hundred dollar bill, I have to admit it hurt more than just my buying power. I returned home with a renewed sense of it's not how much money you make, but how much you keep. I discovered my CD's could only make 8% interest at best. Investors overseas are seeing their investments return up to 33%.

One focus of our President and the presidential candidates has been immigration. [Possibly, to distract from Iraq] A new proposal promises $4 billion for border security and workplace enforcement. Only 1/3 of illegal immigrants enter the country from Mexico. Most illegals are here legally on expired visas.

Every American can benefit from a bit of American History without leaving home. Mexico won independence from Spain in 1821. Spain granted Mexico all the land it held in North America. William Henry Harrison served as President for only a month before dying of pneumonia he caught during his two-hour inaugural address he gave in the rain. His vice president ,John Tyler, who became President on his death, admitted Texas as a state on his last day of office, setting off the Mexican War. [1846-1848]

The Mexican War ended in the Treaty of Guadalupe Hidalgo. which fixed the Texas border at the Rio Grande and gave the United States all of California, Nevada, Utah, parts of Arizona, New Mexico, Colorado, and Wyoming for the bargain basement price of $15 million. Hispanics living in the formerly Mexican territory were given the choice of becoming US citizens or moving back to Old Mexico.

By 2050, the US Census Bureau projects only 53% of Americans will be non-Hispanic white. Which is obvious to any American who purchases a consumer product and looks for the English translation handbook. [ For the ones who read directions] Another reason our dollar has lost its value on the foreign market. We, Americans, saturate the economy with our spending, usually on credit, of money we haven't earned yet.

According to the state demographer, by the time one more generation has passed, Texas will be a majority Hispanic state. "Remember the Alamo" could take on a whole new meaning. In less time than that, I've noticed the hordes of Mexicans hanging out at the local stores, to be picked up for work every morning- now driving their own crew around in new trucks with Rodrique's Construction on the side and Our Lady of Guadalupe displayed in the rear window.

My brother, a Professor at a Georgia College, due to the influx of Mexicans into his town, has been invited to lecture on the subject in Cambridge, England this summer. England has their own identity crisis. With a high percentage of Indian immigrants working in all the low level jobs, the abundance of Indian food opening- except for the weather it's easy to forget you aren't in India. All of our ancestors, even the native Americans, came here from other countries. Our descendent's already paid the price, in bloodshed, sweat and tears to afford Life, Liberty, and the Pursuit of Happiness. All our soldiers deserve that and our seniors to know their retirement will not bankrupt them.

Carlos Slim Helu, overtook Warren Buffett to become the second richest man in the world, only below Bill Gates. "Slim" is worth 53 billion, 67 years old, born in Mexico City, Mexico. He amassed his fortune in telecom communications thanks to a strong Mexican equities market and the performance of his wireless telephone company, American Movil. [ How's that for an ironic name?'] The son of a Lebanese immigrant, Slim made his first millions in 1990 when he bought Telefonos de Mexico [Telmex] in privatation. His company owns 90% of the telephone lines. Last year he spent 3.7 billion to buy Latin American operations of Verizon expanding his territory into Puerto Rico and the Dominican Republic. His mobile company, Telcel, controls 80% of all cell phones in his area.

Carlos Slim was once MCI's largest shareholder. Slim is also a common shareholder of US Commercial, which wholly owns CompUSA, Inc. He has received the "Golden Plate Award" granted by the American Academy of Achievement.

Maybe as the face of America changes, I should look up the value of the peso.

Update: By the time of publication; Carlos Slim has passed Bill Gates and is now considered the richest man in the World with worth close to $67.8 billion.