Remittances to Mexico in calendar year 2008 fell by 3.6 percent, which apparently was twice as much as experts projected. This is a big hit to Mexico's economy; remittances are Mexico's second biggest source of hard currency, after oil exports. This is just more evidence that, as I wrote in a recent column and blogpost, that we may be seeing a sharp decline in immigration--and perhaps a significant reversal of immigrant flow.
-- Read more by Michael Barone.
-- Read more from the Thomas Jefferson Street blog.
-- Read more about immigration.
By Michael Barone