Will Mexico Bring Down the U.S.?
Thursday, January 29, 2009
By Glenn Beck
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Everybody else is talking about how bad the economy is. But here's the one thing: No one can see the bigger picture. I'll show you what I mean.
At the World Economic Forum in Davos, Switzerland, Russian Prime Minister Vladimir Putin called for the world economy to stop using the dollar, because he claims it's not safe or reliable anymore.
Next, Venezuela is funding FARC rebels in Colombia. How long before Hugo Chavez decides to go after a country closer to ours?
Also, the U.S. economy is in trouble, because we're printing money Ś like with this $819 billion spending package Ś and we can't afford to keep doing it.
And, something no one else is talking about
: Mexico is spinning out of control. It is the linchpin in this whole mess, which Iĺll explain in a minute.
What does this all add up to? It looks like this for the United States, when the Soviet Union collapsed.
Why could Mexico be the key? The biggest economic factor there is oil and Mexico needs it at $70 a barrel to balance its budget. Last I checked, oil is at around $40 a barrel. They're locked into a $70 dollar a barrel-rate until the end of the year. But if oil had to be sold at today's prices, almost 20 percent of the government's budget would disappear.
Second biggest factor: remittances. People sending back money from other countries are down 3 percent.
And third factor is tourism, which is down dramatically. They've seen 580,000 fewer tourists than a year ago just in the seven-largest cities, which could add up to hundreds of millions of dollars in losses.
Can't you just hear people say "Mexico is too big to fail"? And who else but the United States would have to bail them out?
You need to step outside yourself and think about recent history. Right after 9/11, Usama bin Laden said Ś and Iĺm paraphrasing Ś it'll be easier crushing the Americans than it was taking down the Soviets.
I was just like you thinking, "You've got to be kidding me! Taking credit for the collapse of the Soviet Union?" That was President Reagan and the United States along with Margaret Thatcher.
* Will Mexico Bring Down the U.S.?
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But when you really think about it, it was the U.S. putting economic pressure on them and holding their feet to the fire. Meanwhile the pope was sowing seeds of discontent inside their country so they would rip themselves apart.
Then there's Usama bin Laden. Funded by us, keeping them in a war in Afghanistan. And then we just kept building up arms.
Do any of these scenarios seem familiar?
What happened there is happening to us. And we're so arrogant that we think we never could collapse.
We are bleeding to death and there is no tourniquet.