New General’s location Ixtapa
What is the new place like….is there still a big outdoor area to eat and drink. Have the prices changed?
New General’s location Ixtapa
by wisconsinjuan 
, Sunday, November 26, 2023, 17:47 (1079 days ago) @ BigMac1
What is the new place like….is there still a big outdoor area to eat and drink. Have the prices changed?
No outdoor dining at all, but rumor has it they are trying to get some space. More room inside. Get used to higher prices everywhere. Plus you have probably lost 15% on the exchange rate. The Shorty's moved into their old place.
New General’s location Ixtapa
by midalake , Sunday, November 26, 2023, 19:11 (1079 days ago) @ BigMac1
What is the new place like….is there still a big outdoor area to eat and drink. Have the prices changed?
A large hot sweat box.
New General’s location Ixtapa
by Ixtapachris , Monday, November 27, 2023, 08:56 (1078 days ago) @ BigMac1
Most restaurants, and Soriana for that matter, are more expensive. Food inflation in Mexico was up 14% in 2022 and is running about 9% in 2023. The $1.2 trillion 'inflation reduction act' in the US gave other countries more latitude to print money and inflate away their outstanding debts. Mexico has even higher interest rates than the US, which in part affects the peso to dollar exchange rate.
New General’s location Ixtapa
by Talley Ho , Playa la Ropa, Monday, November 27, 2023, 12:19 (1078 days ago) @ Ixtapachris
We were discussing that this morning during our monthly dog food run at Sam's. We moved here permanently 6 years ago. Just in dog food, peanut butter and roast chickens, (all we buy at Sam's) the prices have gone up 20 to 25%.
Other prices everywhere have done about the same. It's just a fact of life. Probably more if we were still in Southern California.
Mexican Economy
by ZihuaRob 
, Zihuatanejo, México, Monday, November 27, 2023, 14:07 (1078 days ago) @ Ixtapachris
Most restaurants, and Soriana for that matter, are more expensive. Food inflation in Mexico was up 14% in 2022 and is running about 9% in 2023. The $1.2 trillion 'inflation reduction act' in the US gave other countries more latitude to print money and inflate away their outstanding debts. Mexico has even higher interest rates than the US, which in part affects the peso to dollar exchange rate.
Mexico has always maintained higher interest rates than the USA for much longer than the 34 years I've lived here, which is why we never take out bank loans. I believe you are mistaken about the impact of the USA's "Inflation Reduction Act" on Mexico. Mexico never had the level of inflation as the USA, never went through the recent economic meltdown of the USA, and the peso has been gaining ground on the dollar for at least the past 5 years. Mexico currently occupies one of the top 5 places among the G-20 nations for economic growth. A far cry from what the naysayers claimed would happen under AMLO.
Mexican Economy
by Ixtapachris , Monday, November 27, 2023, 16:48 (1078 days ago) @ ZihuaRob
I believe you are right Rob. Mexico, compared to other countries, including the US has been more disciplined with regard to debt.
This is from the Federal Reserve Bank of Dallas on Sept 23, 2023:
The unusual strength of the peso, which makes up 13.8 percent of the Fed’s trade-weighted dollar index, can be attributed to short-run factors such as high interest rate differentials relative to the U.S. and investor positioning, as well as longer-run macroeconomic fundamentals.
The real (inflation-adjusted) policy rate differential between Mexico and the U.S. widened notably in 2021, when Banco de México raised its policy rate, initiating monetary policy tightening almost a full year before the Fed started its tightening cycle. Mexico’s central bank cumulatively increased its policy rate 7.25 percentage points, exceeding the Fed’s 5.25-percentage-point rise.
This is from PBS, not exactly a far right media outlet, on Aug 16, 2023:
Even President Joe Biden has some regrets about the name of the Inflation Reduction Act: As the giant law turns 1 on Wednesday, it’s increasingly clear that immediately curbing prices wasn’t the point. While price increases have cooled over the past year — the inflation rate has dropped from 9 percent to 3.2 percent — most economists say little to none of the drop came from the law.
NEW YORK/WASHINGTON, Nov 10 (Reuters) - Moody's on Friday lowered its outlook on the U.S. credit rating to "negative" from "stable" citing large fiscal deficits and a decline in debt affordability, a move that drew immediate criticism from President Joe Biden's administration.
Back to the Federal Reserve of Dallas:
In 2022, Mexicans living in the U.S. sent home a record $55.9 billion, representing 4.5 percent of Mexican GDP. Mexico’s current account deficit would have exceeded 4 percent of GDP over the past three years, meaning the country’s demand for foreign currencies would have increased, exerting downward pressure on the peso. The remittances helped push Mexico’s current account deficit to 1.2 percent of GDP in 2022.
In the US, the current account deficit grew from an average of 2.3% from 2012 - 2119 to 2.9% in 2020, 3.6% in 2021 and 3.7% in 2022.
The US doesn't have foreign remittances, so it borrows to plug the gap.
Mexican Economy
Can someone explain to me why all countries are in crazy ass debt?
Shouldn't it be...like... a zero sum game? Maybe I was too invested in Milton Bradley board games in my youth.
Mexican Economy
by Little Guy , Tuesday, November 28, 2023, 06:14 (1077 days ago) @ Yandosan
Can someone explain to me why all countries are in crazy ass debt?
Shouldn't it be...like... a zero sum game? Maybe I was too invested in Milton Bradley board games in my youth.
There is plenty of wealth. The problem is the distribution of that wealth.
A study by the World Institute for Development Economics Research at United Nations University reports that the richest 1% of adults alone owned 40% of global assets in the year 2000, and that the richest 10% of adults accounted for 85% of the world total. The bottom half of the world adult population owned 1% of global wealth.
A 2006 study found that the richest 2% own more than half of global household assets.
The Pareto distribution gives 52.8% owned by the upper 1%.
The masses demand more equitable distribution of the wealth that they produce. Governments provide that through government programs.
But the masses don’t have enough wealth to pay for the programs and the wealthy refuse to share their wealth through taxation.
So government debts increase.
