If the news from the first round of Mexican election polling was any better we’d have to be twins to enjoy it. Andres Obrado, a well-known Marxist who intends a government take-over of the Mexican energy sector, is holding a commanding 18-point lead.
Mr Obrador is the modern Mexican version of Hugo Chávez (or Nicolàs Maduro/Bernie Sanders) with a similar ideological outlook. His resulting territorial economic policies are certain to deliver the Venezuela outcome to the Mexican people.
For American companies doing business in Mexico, an Obrador win would be the worst possible outcome. They will lose hundreds of billions from their current Mexican investments, as President Obrador swoops in to skim (tax) corporate profits for his state-run enterprises and care for ‘his people’. However, the good news is – those U.S. multinationals will likely all return to the U.S. asap. Lucky day, lucky day.
Funnily enough, U.S. Commerce Secretary Wilbur Ross must have held some insider information about this likelihood when he sheepishly hinted toward this possibility a few weeks ago. Oh, the poor multinational critters in Wall Street are gonna have a heart attack when they see this. Wait, wha… they did already?
MONTERREY (Reuters) – Mexican left-wing presidential candidate Andres Manuel Lopez Obrador has an 18-point lead ahead of the July 1 election, according to a poll published on Monday that showed him with a growing advantage at the start of formal campaigning.
Lopez Obrador, who launched his campaign on Sunday, holds 38 percent of the vote, according to the poll by Parametria, published by Reuters on Monday ahead of wider distribution. That compared to 35 percent in its previous poll.
A Lopez Obrador victory could usher in a Mexican government less accommodating toward the United States, where President Donald Trump has stoked trade tensions with Mexico and aggressively moved to curb immigration.
Lopez Obrador has backed the North American Free Trade Agreement, but his plan to review newly issued oil contracts sparked worries he will deter foreign investment. (read more)
Too funny… The “smart set” (pundits) are reading it wrong:
Oh, noes …