Wednesday, December 4, 2024

Remittance

Hegseth may be withdrawn, possibly in favor of DeSantis.

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"He has erected a multitude of New Offices, and sent hither swarms of Officers to harass our people, and eat out their substance."
One of the grievances in the Declaration of Independence, forseeing the modern state.

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Joseph E Stiglitz is a Nobel laureate in economics, a university professor at Columbia University, and a former chief economist of the World Bank believes the Left must mobilize to deal with unprecedented inequality, stagnation in the middle of the income spectrum (and worse for those below), and declining average life expectancy (highlighted by mounting “deaths of despair”)
Big aims. One wonders how such notions would fit in with the American Constitution. 
They simply don't take constitutional restraints seriously.

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Remittance

A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Money sent home by migrants competes with international aid as one of the largest financial inflows to developing countries. Workers' remittances are a significant part of international capital flow.(Wiki)


The money that Mexican migrants send home to their relatives grew by 7.6% in 2023, to reach a record $63.3 billion for the year, Mexico’s central bank said.

In 2022, remittances grew by 13.4%, totaling about $58.9 billion for the year as a whole. In 2021, remittances grew by an astounding 27.1%, totaling about $51.6 billion for that year.

Remittances now surpass almost all other sources of the country’s foreign income, including tourism, oil exports, and most manufacturing exports.

Mexico receives more money from remittances than any other country except India. Indian migrants send home about $125 billion each year. China’s share of remittances was affected by the coronavirus pandemic.

Remittances as a percentage of Mexico’s GDP almost doubled over the past decade, growing from 2% of GDP in 2010 to 3.8% in 2020; since then that may have grown to around 4.5%! Between 2010 and 2020, the percentage of households in Mexico receiving remittances rose from 3.6% to 5.1%.

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