Maybe not completely, but expect the illegal immigration issue to take up less time on the Lou Dobbs show. I showed how the Housing Bubble created the illegal immigration hysteria and now the housing crisis has reversed the flow of Mexicans and diminished the flow of money from Mexicans working in America back to their homes in Mexico. Thanks DiLo.
Money sent home by Mexicans in US drops 12 percent
MEXICO CITY (AP) – Mexicans living in the U.S. sent home 12 percent less money in August, the largest drop on record since the Bank of Mexico began tracking remittances 12 years ago, the central bank reported on Wednesday. After years of record gains, remittances have dropped across Latin America.
The Housing Bubble Caused Illegal Immigration
Mark Thornton on the feds as villains.
Of course all of this will have to be undone because all bubbles eventually burst to one extent or another and all booms are eventually followed by “corrections” that drive whole economies, regions, and industries into economic slumps. A slump in construction will lead to unemployment and bankruptcies. In terms of immigrants we will likely see many return home.
3:42 pm on October 2, 2008
