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Unemployed Americans Stream Into Mexico Looking for Jobs

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While the US unemployment rate is at 9.6% and rising, Mexico's National Statistics Institute, or Inegi, reports that unemployment south of the border was 5.4% last month, down from 5.7% in July and 6.3% in August 2009.

And, while the rhetoric reaches dizzying levels in the US about Mexicans taking jobs from Americans, Americans are actually now taking jobs from Mexicans.

In fact, last year, the following post appeared on a Seeking Alpha blog:

"My father is a blue collar factory worker. He's been one his whole life. He runs million dollar presses printing anything from business forms to Snoop Dogg concert posters. And he's quite good at it.

"But lately his company has stumbled. Printing is an antiquated type of media. The internet has changed everything and printing isn't in such demand anymore. So his company shut down a dozen plants and his happened to be one. 37 years in the same plant and he's now out of a job. And he's only 56.

"The million dollar Heidelberg press he used to run was sold to a printer in Mexico. Apparently, they still print things down there. Then one day he gets a call that the Mexican company needs help assembling and training the crews on my father's press. My father is now in Mexico, working at twice his previous salary. And he says there are a lot of Americans working in that Mexican town.

"The work is still there. Printing isn't going away. The American worker isn't going away. They're just going abroad. Where companies still know how to make something. To produce something on a factory line. Not some service based economy.

"America's economic power is going away. And how ironic that my father is taking a job away from a Mexican citizen."

Just something to think about today.
POSITION:  No positions in stocks mentioned.