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Strategies & Market Trends : Commodities - The Coming Bull Market

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To: craig crawford who wrote (409)7/2/2001 9:59:48 AM
From: craig crawford  Read Replies (1) of 1643
 
Downturn in Economy Deepens Across Mexico
Layoffs hit virtually all sectors and imperil social reforms promised by Fox.
latimes.com

By CHRIS KRAUL, Times Staff Writer

Every day, another big company or industry is hit by layoffs, the most recent being the pivotal steel industry, where hundreds last week received pink slips.
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The worsening times have farmers such as Rodolfo Hernandez in a bind. Corn, carrot and lima bean prices are sinking while the costs of diesel fuel and fertilizer are rising. All he expects to harvest from his 25-acre farm here 40 miles southwest of Mexico City are headaches and big losses." In the past, at least there was movement, equilibrium. Now, there are no buyers at all," said Hernandez, 40.
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Economists say it's only a matter of time before the problems in Mexico's industrial and agricultural sectors filter down to consumers. Wage increases, easing credit and the strong peso will eventually be negated by the effects of job losses and declining consumer confidence
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