Time to ditch the Mexican stereotypes

Mexico will soon have a new President. The winner of the July 1 election, Enrique Peña-Nieto, will take office at a time of significant opportunities, but also enormous challenges for Mexico’s development.  

Morgan Warstler points me to this article: Mexican congressmen voted on Tuesday to change a law that makes it difficult for foreigners to own beach homes in Mexico.

CLICK TO ENLARGE GUATEMALA CITY — Guatemalan authorities launched a search Friday in a remote, rural area where residents reported a gunbattle between drug gangs and said one of the dead resembled Mexico’

Even a quick look at the numbers suggests that Pemex, Mexico’s state oil monopoly, could benefit from some structural changes. Fourth quarter losses at the company jumped 72 percent compared to the same period in 2011, with high administrative costs and losses associated with sales of refined products erasing a modest increase in revenue.  

MEXICO CITY — One of Mexico’s biggest political kingfish sits in a women’s prison in the capital, accused of embezzling millions in funds from her teachers’ union to pay for property, private planes, plastic surgery and her Neiman Marcus bill.

ACAPULCO, Mexico — Authorities have information they hope will lead them to the gang of armed, masked men who raped six Spanish tourists in the Mexican resort of Acapulco, the attorney general in the southern state of Guerrero said. The vicious, hours-long attack at a beach home on the outskirts of Acapulco before dawn Monday was the latest chapter of violence that has tarnished the once-glamorous Pacific coast resort celebrated in Frank Sinatra songs and Elvis Presley movies.

At least one Fed governor understands the Bernanke Fed's hyper-accommodative monetary policy has no exit. Today on CNBC "Squawk Box", Dallas Fed governor Richard Fisher complained Fed Risks 'Hotel California' Monetary Policy.

Enrique Peña Nieto, billed by his PRI supporters as Mexico’s JFK, says his government will be all about modernisation and reform, writes David Gardner