Internet Articles (2015)
discovers an early "benefit"
While Canada has always prospered from its proximity to the United States, Mexicowhich has traditionally been viewed as America's "subprime neighbor"has not. Mexico was invited to play an important role in the globalization of the western hemisphere only because it has an easily-corrupted government and an abundance of cheap labor. It was a second-world power sitting at the gateway of the greatest economic power in the world. It was also a second-world power that provided the merchant princes of the United States with an unnoticed gateway, through the tariff-free provisions of NAFTA, that would allow US industrialists to export their factories to the People's Republic of China and then import products made in joint ventures between US corporations and the Chinese government through the tariff-free Mexican Port of Lazaro Cardenas. Chinese goods, masquerading as NAFTA goods from Mexico, traveled up the Trans-Texas Corridor to anxious, bargain-hunting, stupid American consumers who still fail to realize that the more Chinese or other third world products they buy the faster their job will be exported to the human capital-rich third world countries which are raising up a new generation of consumers. The discretionary income of these new consumers will come at the expense of US jobs.
Mexico, which doesn't realize it yet, has suffered rather than prospered from its proximity to the United States. NAFTA originally appeared to be a godsend to the Mexicans who needed the jobs that relocated US factories promised. With those jobs would come all of the other economic benefits enjoyed by Americans. (Until the transnational industrialists and their friends in the liberal media began to refer to everyone in the western hemisphere as "Americans" simply because they lived in North America, Central America or South America, only US citizens were referred to as "Americans"even by those who lived in the other 20 countries in the western hemisphere. Canadians refer to themselves as Canadians, Mexicans as Mexicans, Brazilians as Brazilians, and so on.) Those economic benefits included the ability to buy a home and all of the amenities that go with it.
Those amenities for the new Mexican consumers who are making your new Ford, GM or Chrysler cars and extended cab pickup trucks include department store revolving charge accounts and, of course, your typical bank cardVisa or MasterCard. Only, bank cards issued to Mexican factory workers are not exactly "typical." Mexicans workers who qualify for credit are paying an average 41.78% interest on their bank cards in order to share an illusion of the great American dream of prosperity. Store credit cards in Mexico carry interest rates as high as 69.6%.
Credit has always been fairly expensive in Mexico. Few members of the Mexico's growing moderate working class use credit simply because it's too expensive and too hard to get. Fewer banks in Mexico mean less competition. On top of that, since bank credit is relatively new, most Mexican consumerseven those who have used store credit in the pastare viewed as new, high risk subprime borrowers.
Bernardo Garza, marketing manager for GE Money Mexico (a division of General Electric, the company that owns NBC) said that credit is high in Mexico because "...banks are covering a little bit for a higher risk than in the US. But, on the other hand, I also believe...that banks and also financial institutions who offer cards see an opportunity there and are trying to get the most out of it."
In reality, lending institutions in the United States are quietly grooming tomorrow's credit markets for the time, very soon, when a jobless United States loses it Visa, MasterCard or Discover credit card privileges, and American Express once again becomes the credit card of the elite.
The disemboweling of the Economic Titanthe United States of Americahas been a deliberate plan, well-conceived by the transnationalist money barons, the kings of industry and the merchant princes since the end of World War II. The overlords of the world's wealth believed that when economic parity existed throughout the world, nations would not rush to war with one another. But those who are not ideologically-driven fail to understand the passions of those who are. Money doesn't drive them. Theology does.
What made the United States the unique, dominant nation in the world for over a century was not the strength of our military, it was our industrial strength. The United States was economically self-sustaining. Not only did we have the factories to produce all of consumer goods we needed, we had the factories to build the tools of war whenever this nation faced a military threat. In fact, in both World War I and World War II, not only did we produce all of the war machines, weapons and munitions we needed to fight a two-front war, we also supplied our allies with the war machines, weapons and munitions they needed to fight two-front wars as well. It was this fact about the United States that frightened then Soviet dictator Josef Stalinand it was this fact about the United States that frightened the globalists behind the plan to create world government.
The United States has 22% of the world's work force and 80% of its wealth. In the minds of the money barons for whom greed is life, all men are motivated by money first, and that they are driven by personal ideology only when they are not economically equal. Islam has proven this adage to be false, but those who are determined to erase all national borders in order to create a tariff-free global state controlled by politicians who are indebted to them, are blind to the realities of human nature. When they eventually wake up and discover their wealth is irrelevant, it will be too late. The nation which guaranteed the freedom of all men will have become a debtor nation that can no longer pay its own way in the world. America will become a pauper state, waiting in line with the debtor nations of Europe for its chance to get slave labor factory jobs from China, Mexico and India.
Today, the emerging nations that possess 85% of all the world's human capital are witnessing the birth of the free enterprise systemalbeit an expensive counterfeit version of it. Walmart of Mexico now offers its customers a credit card (which is administered by the Spanish-owned bank, BBVA Bancomer). Walmart of Mexico spokesman Antonio Ocaranza refused to reveal how much the interest rate is, but the Mexican Walmart credit card is a variable-interest credit card with rates that can be 65% higher than Mexico's prime rate, or 70%. Credit cards to Mexican customers issued by Walmart's own internal bank offers a line of credit to is customers at 59% interest. Mexican Woolworth stores credit cards carry an interest rate of 61%. Costco's interest rate in Mexico is 53.31%.
Those marketing credit to Mexico's growing working class claim that the interest rates are hefty only because Mexico has a much smaller derivatives market (the investment instruments used to finance credit). However, Mexico, like most of the western hemisphere second world powers, has defaulted on World Bank and the International Monetary Fund loans. For that reason, Mexico is viewed as a subprime nation. It's viewed as a credit risk. So are its people. The fadbuying on creditis not just a novelty in Mexico. It's a novelty in all of the emerging industrial nations whose factories came from your city and my town. China. Mexico. India. Pakistan. Indonesia. And, of course, the former Soviet Union (and I say "former" with tongue-in-cheek.) In a country where its people have not discovered the "personal check," and where people purchase apartments or cars with suitcases of cash, Russian consumers whose jobs create products sold all over Europe and Asia, are discovering credit. Up until now, Russian workers paid for everything with cash. If they lacked the cash to buy their car outright, they didn't have a car. That's why home ownership in Soviet Russia was virtually nonexistent.
The Russian economy, like the economies of China, India, Indonesia, Pakistan and even war torn Afghanistan are now flush with an infusion of transnational cash as the industrialists of the west meet the 21st century's consumers from the east. Interest rates in those nations range from about 15% for a 10-year mortgage to double that for buyers of cars, household appliances, computers or other electronic devises. With the whole world as their oyster, the US-born industrialists no longer need the replacement market in the United States and western Europe where consumers have two-of-everything and virtually need nothing until one breaks. Instead, the wealth of the world has found the third world where consumers have virtually nothing and need everythingespecially our jobs.
Thankfully the money barons, the kings of industry and the merchant princes were thoughtful enough to create the North American Union so when the US consumerswho are financing the economic globalization of the free enterprise system with their jobsgo bankrupt, the job-flush Mexicans and Canadians will be available to pick up the tab and keep our economy afloat for the globalists who fear another financial meltdown and a domino-affect global bank crash will destroy the artificial affluence of a cyber-world economy financed with virtual money.