Vallarta Living | Archives
Peter Wells Scott
"It's always better to proceed on the basis of recognition of what is, rather than what ought to be." Stewart Alsop
When the white man discovered the Americas, Indians were running it. No taxes, no debt. Women did most of the work. Indian men hunted and fished all of the time. White men were dumb enough to think that they could improve upon a system like that.
But the white man was not that dumb. They bought the island of Manhattan from the Indians for the sum of $24.00. The Indians could have held out for double, even triple that amount. Manhattan is now the financial center of the United States - nay, the world. Most of the huge banks used to be in Japan. That was before the Japanese banks authorized loans that have not been collected. Today, CitiGroup is in the news announcing its agreement to purchase Banamex/Accival Bank for the tidy sum of $12.5 billion dollars.
Mexico's financial landscape changed dramatically in one day. The Mexican BOLSA rose 6% the same day and 3% on the following day.
Mexico's credit card holders have abused their privileges worse than their counterparts in the United States. Thirty-three percent of all Mexican credit cards are delinquent.
CitGroup's purchase of Banamex's headquarters and 1300 branches is the first step in a merging process that will unite the three NAFTA countries; USA, Canada, and Mexico, with regard to business, financial, and social order.
Speaking of the social order, fathers are becoming single parents in droves, and women are becoming single parents without ever having a husband. An average low-end wedding in the US costs $25,000.00. Add this to the average college education cost of $100,000.00, and young folks start off in debt.
There is little wonder that 52% of marriages end in divorce, and the paramount reason given for failure is "money." Add to that the cost of raising a child. According to the department of agriculture, a family earning $61,000.00 a year, and having a child born in the year 2000, will spend $315,000.00 on the bare essentials to have the child reach the age of 18, and that is sans Nintendo, summer camp, a dirt bike, or a car.
So why do some of us choose Mexico in general and Puerto Vallarta in particular?
Property taxes on a $65,000.00 condo overlooking the ocean this year increased 50% - from $12.00 to $18.00 per year.
The same TV channels that you watch in New York City or Los Angeles are available here. Instead of being in the traffic up there in the US, you can watch it here on KTLA.
Raising a family here is a family proposition rather than a peer group proposition.
The Mexican people and/or foreigners actually speak to you; whether you are in a bank, a grocery store or a movie theater.
Learning a new culture and a new language can be exhilarating.
In Mexico, without millions, you can actually be an entrepreneur.
One can, through the Internet, connect to the world.
And perhaps most important...one can leave stress at the doorstep of their northern neighbor.
Yes, CitiGroup has made a big step towards improving our fortunes. We may never be as smart as the Indians settling in the Americas - but then again, we don't need to be.