Richest Man In Mexico Hating On Gates, Buffett and Santa Claus

Posted by Lord Marchmain, Mar 14, 2007 12:02PM

The robber baron Carlos Slim controls a monoploy in Mexico, so he's hardly a "capitalist."

Plus, robber barons like Slim pay very little in taxes in Mexico. As the economist Gary Hufbauer of the Institute for International Economics has noted, Mexico's tax collections are only 14% of GDP, compared with 25 to 28% in the US.

Perhaps if someone like Slim would invest in his own country, maybe Mexican workers wouldn't keep leaving Mexico and the US wouldn't face an unrelenting Mexican immigration/invasion crisis.

But then again, maybe the Mexican/US power elites are happy with this arrangement? By siphoning off millions of poor unskilled workers, it relieves the political/social pressures in Mexico and allows Mexico's elites to export unemployment and other societal problems to the US.

Plus, Mexico gets back BILLIONS in remittances from Mexicans working in the US!!!

This arrangement also strengthens the multicultural system, big bureaucracy, and the welfare state in the US.

Carlos Slim is nothing more than a self-serving "fat cat" who has succeeded because of the lack of competition in statist Mexico.

Forget about Iraq. The US needs to enforce "creative destruction" in Mexico.

Posted by art vandalay, Mar 14, 2007 12:31PM

it looks to me hes invested
"Diners at Slim's ubiquitous Sanborns restaurants can use Slim's wireless service to connect to Slim's Internet provider and check their holdings through Slim's brokerage, part of Slim's Grupo Financiero Inbursa group. Banking online, they can pay bills to Slim's car insurance company or credit cards for Slim's retail stores, among them Sears Mexico and the Mixup record store chain."

Posted by Texas Energy, Mar 14, 2007 12:32PM

By "US power elite" you I think mean power in Washington primarily (think Pelosi) and not on Wall St.

"Big Business" is not in favor of the increasing welfare state in which we live. All of those remittances are just an extension of our welfare system in Mexico. The cash sent down South is spend on food and consumables, and isn't invested or used to create new business. AKA welfare.

If the Mexican economy were opened up to competition, especially their energy industry and the Mexican elites would invest at home, then the US would have a much improved trading partner that would not have to limp along on our welfare.

Posted by Lord Marchmain, Mar 14, 2007 12:51PM

You are right. But some Republicans (not just people like Pelosi) are in on this game too, because their support for out-of-control Mexican immigration helps perpetuate the arrangement by permitting US corporations to avoid paying fair market wages and by undercutting American workers. It's a totally corrupt system they have going on here. It's one of the few instances where both Dems AND Repubs work together in bipartisan harmony to maintain the corrupt status quo.

Posted by Lord Marchmain, Mar 14, 2007 1:01PM

And another thing. Slim claims that "poverty isn't solved with donations." No, in Mexico's case it's solved by sending it to another country! In other words, out of sight, out of mind. Isn't that right, Mr. Slim?

Posted by Adam Twardowski, Mar 14, 2007 5:37PM

Look at history. Men like Slim built the financial and industrial empire that is the United States. Neither charity nor altruism led to the extraordinary technological and economic changes this nation saw in the 19th century. So-called "robber barrons" - men of ability and talent - are the true heroes. For every penny Slim has earned through honest and productive effort, I say "let him earn two more."

Posted by Texas Energy, Mar 14, 2007 5:47PM

Adam, are you that naive to believe that Slim, a Mexican elite, has earned anything by honest and productive effort? Their entire economy (well, the part that isn't welfare from the US) is built on corruption and blackmail. Have you ever visited Mexico outside of Cancun? Slim is not a "robber baron" by any means. They were great capitalists. Slim is a corrupt opportunist.

Posted by Lord Marchmain, Mar 14, 2007 6:39PM

It's funny (and a little sad) to see advocates of so-called capitalism and the free market defend a Latin American robber baron like Carlos Slim, who has benefited directly from controlling monopolistic industries in corporatist Mexico, thanks primarily to political connection$, unfair business practices, and corruption. Horatio Alger, he ain't.

Posted by Jesse, Mar 14, 2007 8:42PM

The big question here is, would Slim be worth 49 billion if he had real competition in Mexico and he was really a smart, innovator that deserved what he has based on hard work and determination? awnser: NO

Most of his billions wher earned by basically "stealing" with shady goverment deals, bribes, etc, he is scum.

Posted by zamu65, Mar 14, 2007 8:45PM

Texas Energy is showing complete ignorance and prejudice..you should read up on Carlos Slim and his very humble beginnings as the son of Lebanese immigrants who arrived in Mexico with absolutely nothing. How stupid can you be to think that Mexico is only about corruption and blackmail...if that were the case Mexico would have imploded politcally and socially a long time ago. Corruption exists at all levels in Mexico just as it does here but not nearly to the degree that Americans perceive. I lived and worked in Mexico for 10 years and never paid a bribe to anyone..not even a traffic cop. Read a little before simply repeating the same old misconceptions.

Posted by Mexican Power, Mar 14, 2007 11:40PM

Well, first of all Slim is not responsible for the immigration issues between US and Mexico, the ignorance of some of the people posting in these comments is amazing, before extending an opinion I will recommend to study a little bit more the history of Mexico, and will understand that migration is more than a political or economical phenomenon, it is also a social issue and an historic debt.

And second, Carlos Slim fortune, was made in the same monopolist market and with the same corruption, blackmailing and political favours as of Bill Gates, but also required good managing and investment intelligence. It is not good enough to be a thief to be in the 3rd place of the list of richest men. The only reason Gates and Buffet are great "givers" or donators is because is the best way to do free advertising, good public image and of course, less taxes to pay, everything else is strategy.

Posted by George Bailey, Mar 15, 2007 2:15AM

I am a 34 year old "capitalist" involved in the food-commodity business and have just returned to the US from residing legally in Mexico for the last 7 years. My personal experience in Mexico is very positive and I have learned to love the country and people (regardless of my personal experience with kidnappings, bribery, extortion and corruption). There is absolutely no doubt that the politicos and fat cats (Slim) simply don't care about the poor population (earning less than USD 5.00/day). Anyone who fights for the rights of the poor today is labeled a "Chavez-wanna-be". Most of us Americans are quite ignorant to economic & cultural realities in other US cities let alone other countries. How many Americans even have passports? To in any way condone the outlandish fortune of Slim (only made possible with under the table deals with politicos began by Salinas de Gortari) and his monopolies and not encourage further competition, and yet still complain about the Mexican immigration issue, is naive and ignorant -yet typical for us as a society. Hunger, desperation, misery and a lack of hope are driving Mexico's newest generation to leave their children and husbands/wives to seek $ in a seemingly xenophobic yet stinking` rich land that seems to have recently developed a cultural intolerance - if not hatred - problem. Think about it.

Back in Salinas` presidential days, several vessels of Chernobyl contaminated milk powder were imported from Russia and distributed in the Mexican social programs not to mention the flat out disappearance (theft) of entire food vessels that wound up in the black market under the Salinas family regime (his brother (Raul de Gortari) was the President of the Mexican Food Social program and later did time for murder). How many Politicos and bureaucrats do we know creative enough to devise such deals without the help of the elite? This is one example of sleaze worth several hundreds of millions. Now start to appreciate the scale of 49 billion and I can go on and on about further sleazy tactics that many of you may be quite interested in... Nowhere else is this sleaze in politics+business more obvious than in Mexico (except Baghdad of course)....anyone who denies this is simply naive or ignorant (or just shooting par for the USA course).

We all know that socialism + Marxism + communism failed (thank god) and that a capitalist society is not perfect, but it's the best choice we have, but as long as this blatant and cynical abuse of power is tolerated, we will always have detractors resorting to desperate measures. Carlos Slim - chomping on his cigar will never EVER understand these middle and lower class problems since he doesn't give a dam, and feels no pressure to fake it as do others. It is incredible to see how the USA has changed over the last 7 years..since when did we all turn into greedy pigs? (or have we always been that way, but was I also shooting par for the course??) and I don't see it getting any better as long as we, not as business people or capitalists, but as human beings voice our opinion to share the wealth rather than be your typical Mr. Potter.
If not, it will be our downfall as a society.

Posted by Richard Grabman, Mar 15, 2007 3:27AM

The article you quoted was WAAAAAYYYY off base. What Slim Helú said was that "charity doesn't end poverty." He's right... jobs end poverty.

And, as it happens, Slim is matching peso for peso charitable donations, including those from foreign NGOs in the Mexican Republic.

There are a lot of things you can criticize the guy for, but not for being insensitive to the wealth gap in his own county.

Posted by American Power, Mar 15, 2007 11:50AM

Mexican Power--"Historic debt"? What the fuck does that mean, puta? Are you saying that the US somehow OWES it to Mexico to import MILLIONS of Mexican poor, unskilled, hostile, and illiterate settlers?

Posted by Lord Marchmain, Mar 15, 2007 11:54AM

A Latin American robber baron like Carlos Slim can afford to say nice things about the Mexican poor because he pays very little in taxes and supports the export of Mexico's poor to the US. He is clearly not in a position to lecture anyone about poverty, least of all Americans like Gates and Buffet.

Posted by Texas Energy, Mar 15, 2007 12:12PM

I second that, Marchmain.

Posted by Auto, Mar 15, 2007 3:50PM

Bravo, Marchmain.

I hate these rich Latin Americans lecturing us for presuming to care for our poor, for wishing there was something we could to allieviet their plight.

And then the bastard has the nerve to talk as though Mexico has figured out what needs to be done.

Then again, Mexico did figure it out -- export its unemployed to the US and fund itself off their remittances.

Posted by christian vazquez, Apr 12, 2007 7:12PM

I was just doing some research on this guy because I heard he is now at second place....and came across this, and I found the same comments again, It's really funny that most americans have the same idea in their heads, the type of americans that blame everything on immigration are called "scapegoats"

If all the mexicans here in the US were unskilled, hostile, or whatever, American business owners would not hire them. Mexico has a corruption problem, the US has an ego problem.......but we are human beings.......some more intelligent than others, appereantly.

Posted by Lord Marchmain, Apr 12, 2007 7:29PM

American business owners hire Mexicans because Mexicans are slave labor. It's a way to avoid US labor laws (especially minimum wage) and undercut American workers. I'm not blaming Mexicans only. American business owners and US politicians are to be blamed. They are the ones who should hang. And, I'm not saying the US is perfect, but Mexico has a major corruption problem, a poverty problem, a low IQ problem, an Indian problem, an arrogance problem, a kidnapping problem...I could go on.

Posted by Christian Vazquez, Apr 12, 2007 7:54PM

there goes the ego again.......IQ problem? Indian problem? arrogance? I dont know, it sounds like scapegoating to me again, Indians: at least they are not put in reservations.....mexicans are humble to be working at minimum wage, go to any of their beaches, they'll welcome you. some people just don't like see other people come up.....it looks like somebody else has a lower IQ than mexicans. do some research man.

Posted by Eddie, Apr 13, 2007 1:11PM

All those day laborers won't work for less than $10 an hour! Slave labor my ass! I know some making $20 an hour! I'm an engineer and they started me off at $24/hr!

Posted by Lord Marchmain, Apr 13, 2007 1:42PM

$10/hour isn't a slave wage? Says who? It's all relative. Problem is, Americans are addicted to slave labor, which is why they are importing foreign workers, who constitute a new slave class. Significant problems will arise as these slaves...er, I mean workers...begin to make political and economic demands, as they already are starting to do. Latin America has a long history of social violence and revolution, much more so than the US, and by importing Latin Americans we are importing future instability, insurgency, and revolution.

Posted by Christian Vazquez, Apr 13, 2007 2:53PM

how funny, I thought we were talking about Carlos Slim.

I just don't know where you get that from, Mexicans are not how steriotypes portray them to be, they contribute to the US, the US needs cheap labor, some people just don't like to see them succeed. I have seen a lots of mexicans stablish new businesses, earn more than $24 an hour (I dont think an unskilled worker would earn that much) they protest because they have rights as human beings.

all those riots in the past history of Latin America were againts thier governments, but they are not bringing their political believes over here, they come over here with a new hope and to work. of course there's always the other face of the "so called problem" some mexicans come here mainly for drug trafficking or beacuse the are eluding mexican law, etc.

in regards of Carlos slim, good for the guy, he is doing whatever all businessmen do, get richer and richer. American, Mexican, Arabic, Chinese billioners do it the same way, by taking the food off somebody else's plate. it's business. please leave the steriotypes out of your replies. Mexicans are not bad people, only when they are far more successful then you are, huh, lord marchain?

Posted by Miss_Anthrope, Nov 26, 2007 4:45PM

Funny, I thought he made all his money off of the telecomm monopoly (I'm back on Slim for ya).

See, when they privatized, he was given the monopoly...even NAFTA gave him 10 years protection (all MX cos. got the protection - thanx Clinton!).

Then, he raised prices 200% a year while wages rose maybe 15-20% a year. Plus, he's got a bank to fund him & other cos. for supplies. Oh... yeah, I'm sure the drug connections don't hurt.

What, isn't that the capitalist dream?