WHERE'S THE MONEY?

IS THE U.S. BECOMING MORE LIKE MEXICO?

A buddhist monk meets with his followers to announce that he has decided it is time to build a new, bigger temple.


"But master, our bank account is empty.  Where will the money come from?" someone asks.


Looking around calmly, the monk answers slowly, "From wherever it is now."

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According to a recent editorial by Bob Herbert in the New York Times, money these days is heading into the pockets and bank accounts of the rich, as unemployment rates for the lowest economic levels of society skyrocket.

I've hear many conversations where Mexico is described as a poor country, but I think of it as a rich country whose wealth is poorly distributed, badly managed, or simply carted off by those with power to do so.  Sound familiar?

Mexico is famous for its corrupt politicians, who often leave office far wealthier than when they began.  When I read about the enormous bonuses paid to corporate executives in the U.S. I wonder how different things are? Although it shines with a veneer of 'legality', the end result is not unlike what happens here in Mexico:  the money moves up the economic scale. The same thought can be applied to the mortgage crisis and bank bailouts--all legal, but once again, the money gets funnelled into the same fast-flowing stream. 

Around 40 per cent of Mexico's population lives under the line of poverty, sharing just 11 per cent of the nation's wealth (some studies are even more pessimistic).  The minimum wage is around 54 pesos a day (equivalent to $4.30 U.S.).  For many, much of the misery fits into the category of 'out of sight, out of mind', but that may be not be possible much longer.