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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Haim R. Branisteanu who wrote (54090)	8/25/2009 7:58:04 AM
From: TobagoJack	2 Recommendations Read Replies (2) \| Respond to of 218014

just in in-tray player 1: Bad news for Mexico? gregor.us Canterell Production: January 2008 - 1,243,000 barrels per day July 2009 - 588,000 barrels per day. Net drop of 655,000 barrels per day in 18 months... At $70 per barrel, that is roughly $46 million a day in revenue drop, or $1.2 Billion per month.. I think that Pemex is about 40% of the Mexican national budget? And add in the drop in remittances from the US, and the Mexican peso looks as if it should be in trouble.... "An analysis by the Spanish-owned bank BBVA Bancomer estimated that migrant dollars arriving to Mexico could go down by as much as four billion dollars this year, reducing the country's annual remittance income from about $25.1 billion in 2008 to slightly more than $21 billion in 2009. Other estimates put the expected remittance total in the $22-23 billion range for 2009." player 2: and thats not even to mention the swine flu tourism issue, the other big contributor to USD inflows. The bolsa has held up well due to manipulation, the governement has basically dictated that the pension funds invest in the mexican market to hold prices up. About 9 months ago, the govt said that local pension funds would not be allowed to invest in equities outside of mexico, ala australias super annuation funds. Its a slow moving train wreck. To further boost the market, the government yesterday said that the Afores(working mans pension fund) would not be required to own some of the illiquid smaller bluechips, as a result they are now being forced to concentrate in the bigger blue chips. Check out what happened to ELEKTRA* MM Equity... so moving money out of the expensive market small weights and putting them into the big blue chips? Sounds like desperation.. Perfect storm. When does it hit????