All Dressed Up And Nowhere To Go

Blue Dress

All dressed up and nowhere to go. This describes pretty much how I see Mexico's economy these days after all the energy the Mexican government put into reforms that nonetheless represented little in eventual benefit to the people of Mexico. Worse still, Mexico has been feverishly fighting a stronger US Dollar that has been battering the Mexican Peso left and right as global investors hedge against loss in gold and stronger currencies like the aforementioned greenback. Government revenue is also down as the price of oil --representing over 35% of government income-- stays low, part of the reason why President Enrique Peña Nieto stated early this month Mexico would have to tighten its belt into 2016.