“I appeal not to create walls but to build bridges.” — Pope Francis (2017)
My wife and I returned from a successful trip to Mexico City last week; we spoke a dozen times at the new Universidad de la Libertad, hosted by free-market business leader Roberto Salinas.
Jo Ann and Mark Skousen with Roberto and Marta Salinas in Mexico.
His cousin, billionaire Ricardo Salinas, is the primary financier of this beautiful campus in the Santa Fe district, devoted to teaching free markets and free minds. Jo Ann spoke on art and literature, and I spoke on Adam Smith, gross output (GO) and why some countries are rich and others poor.
We were well received, and dozens of students and faculty are keen on coming to FreedomFest next year. In fact, six students came this year and had a great time.
The students spoke good English and were enthusiastic about free-market economics and anxious to see a more prosperous and just country down south, and hopeful that Americans would support their efforts to make Mexico free and wealthy for all its citizens.
Poverty is on the decline. We have so much evidence of improvement in the economy and the environment. Mexico City used to be one of the most polluted cities in the world. We were there 30 years ago, and it was hard to breath in the city. Now, with a population of over 25 million, there is very little pollution, and there are advances in their standard of living.
One thing that has not changed is the Mexican stock market, which has been in a bear market for over 10 years. See this chart:
As this chart demonstrates, Mexico’s bolsa outperformed the U.S. market in the early 2000s, but it didn’t last. Mexico has gone nowhere since it topped out in 2012. Despite progress in many areas, Mexico has serious problems and poor political leadership. It is ranked 80 among countries in the Economic Freedom Index. It has elected two socialists in a row, and most students and faculty were not optimistic. They didn’t think President Donald Trump understood their situation, and imposing stiff tariffs aren’t helping their employment situation, especially on the border.
The Story of Carlos M., an Illegal Immigrant
On our last day in Mexico City, we took a tour of the city. Our bilingual tour guide was Carlos M. He learned English spending four years as an illegal immigrant in the United States. We toured the Castle where presidents lived in the 19th century and the Museum of Anthropology (both fascinating).
During the tour, I asked him about his experience as an illegal immigrant. He said he was willing to take the dangerous and expensive trip to the United States because at the time, 2005, the Mexican economy was in dire shape and he wanted some decent employment. The U.S. offered wages 10 times better than Mexico, and his goal was to save at least 15,000 pesos, enough to buy a car and start a business in Mexico when he returned.
Carlos paid a coyote $2,500 to sneak across the border in Arizona with nine other illegals. He made it through the border and spent three nights in the desert. Then, he took a flight to Jacksonville, where his cousin worked. He spoke not a word of English. The flight stopped in Nashville, but the connecting flight was postponed until the next morning, and he was given a voucher for food and a hotel for the night. He said the hotel had a nice bed, television and hot water. He said he took three hot showers that night! He said, “That night, I lived the American dream!”
When he arrived in Jacksonville, his cousin found work for him in a warehouse. He paid $400 for a fake Social Security number, and worked there for four years. Bank of America provided him with a Visa card. He paid FICA taxes like anyone else, and never took welfare. He eventually became a skilled fork-lift driver, learned decent English and decided to return to Mexico after saving 15,000 pesos.
When he returned, he bought a car and became a successful bi-lingual tour guide.
I asked him “Would you like to return to the United States?” He said, “Yes, as a legal tourist!” He thanks America for giving him the chance to succeed.
He also said that coyotes now charge $10,000 to cross the border.
Roberto Salinas is going to make the case for open borders (not illegal immigration) in a debate at next year’s FreedomFest. I’m sure I can find many people to debate him.
Our theme next year is “Think Independent.” Hope to see you there. Sign up now at http://www.freedomfest.com; the first 400 to sign up pay only $400 each. After that it goes up to $450.
Argentina is the Future of Latin America
Meanwhile, Argentina is making great progress in returning to a sound economy under the influence of President Javier Milei by cutting taxes, wasteful government spending and freeing the economy. I’ll be traveling to Buenos Aires in mid-August and give you a full report. The Buenos Aires bolsa is moving back up, and has doubled since Milei was elected in late 2023.
Update on my book tour
My new book is in its second edition, and is now available as a hardback, audiobook and ebook: The Greatest American: Benjamin Franklin, The World’s Most Versatile Genius: Skousen, Mark: 9781645721000: Amazon.com: Books.
Financial guru Jim Woods just did a review: “His latest book, which now is also available as an audiobook, is not your traditional biography of Ben Franklin. Rather, it’s an exploration of Franklin’s thoughts on a vast variety of topics, and being the polymath that Franklin was, his brilliant insights on so many topics are there for all of us to learn from. One of the things I like best about this book is that it’s as relevant today as any work of current non-fiction. I say that, because Franklin’s wisdom on so many topics is in dire need of understanding, right now.”
If you order the hardback through my website, Skousen Books at Discount, you pay only $24 ($19 for additional copies). I autograph every copy and will include a rare Franklin stamp with each book, making your book a collectible. All books are mailed free of charge inside the United States.
Special Announcement: I’m in Washington, D.C., this week for my book tour and podcast interviews with former House Speaker Newt Gingrich, Kennedy of Fox News, the Cato Institute “Portraits of Liberty,” the Ben Franklin Fellowships podcast, the Wednesday Meeting with Grover Norquist, the Fund for American Studies podcast with Roger Ream… and a luncheon talk at the Heritage Foundation (214 Massachusetts Avenue NE, Washington, D.C., Luce Room).
Tonight (Thursday evening, July 31) at 7:00 p.m., I’ll be speaking at a fireside on “Ben Franklin, the Founding Fathers and the Promised Land,” followed by an autograph session, at the home of Ed and Sally Curle, long-time friends, who live in Oakton, Virginia, a suburb of Washington, D.C. Refreshments are provided. RSVP is required: Email ecurle@ecurle.com and he will provide his home address for the fireside.
Good investing, AEIOU,
Mark Skousen
You Nailed it!
We Took a Bridge To Mexico!
“I appeal not to create walls but to build bridges.” — Pope Francis
Jo Ann and I flew to Mexico City via Tijuana instead of Los Angeles. For years, the media and the Republicans had urged the building of walls along the U.S.-Mexico border to stop illegal immigration by the Biden administration.
The Cross Border Xpress Bridge
But then I heard that the United States and Mexico had cooperated to build a bridge a few years ago between San Diego and Tijuana International Airport. So we decided to try it out. The CBX Bridge was quite convenient and cheaper than flying from LAX to Mexico City. We drove down to San Diego, parked our car at the CBX, walked through immigration and security for $34 each way, and entered the Tijuana International Airport, and then flew non-stop to Mexico City on Aeromexico Airlines. There were virtually no lines and no waiting around in both directions.
Viva Mexico!
